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bucolic_frolic

(56,490 posts)

15. I'd be very skeptical of runaway inflation, 1970s style

Reply to applegrove (Original post)

Sat Jul 24, 2021, 05:00 PM

Jul 2021

It was a different economy. Regulated, supplied domestically, with OPEC fueling energy costs.

We don't have that now. We have borrowed from the future through 1% interest rates for 12 years. We created too many businesses, too many houses, too much entertainment.

We can be criticized for not having enough manufacturing capacity. But we own the patents for the most part, even if they are licensed to Chinese companies. And we import cheap goods.

So find me the inflation in that equation. The Fed is not printing money. They are buying assets and lending money. They will sell the assets when the economy is roaring. That will slow things down.

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Opinion:The GOP's favorite spin about Biden's plans just took a big hit [View all] applegrove Jul 2021 OP

oh its accessible. unusual for a wapo post nt msongs Jul 2021 #1

Doesn't matter if it's true, republicans will run with the "inflation" bogyman. Merlot Jul 2021 #2

And holding back the economy is part of it Cosmocat Jul 2021 #5

To stop Keynesian spending which works. They did that to Obama. applegrove Jul 2021 #10

Unless people are feeling that their wallets are thinner, Elessar Zappa Jul 2021 #16

An infrastructure bill... SergeStorms Jul 2021 #3

This! Times a gazillion! love_katz Jul 2021 #6

When has a dire predication being, unlikely even wrong stopped them from using it as a weapon? [nt] Nexus2 Jul 2021 #4

This message was self-deleted by its author Chin music Jul 2021 #7

Stanley Drunkenmiller is Stepheney Ruhul warming about the dangers of further spending... Nexus2 Jul 2021 #8

Here is a video Drunkenmiller's commentary Nexus2 Jul 2021 #11

This line is why the pukes won't help. North Shore Chicago Jul 2021 #9

Let Mr. Zandi try to live on a fixed income for the next few years and get back to me The Mouth Jul 2021 #12

:) Chill? After all, this economist is honest and on the side of the good guys. Hortensis Jul 2021 #13

All the government has to do is up the interest rates and it stops the applegrove Jul 2021 #14

I'd be very skeptical of runaway inflation, 1970s style bucolic_frolic Jul 2021 #15

If what we're seeing is really transitional, oldsoftie Jul 2021 #17

GOP: Who was Prez. the last time inflation got out control? rickyhall Jul 2021 #18

Most Americans are completely ignorant about finances and economics Dopers_Greed Jul 2021 #19