Comment by kenjackson
6 hours ago
It's disappointing, but not surprising, that people thought the president would make any really impact on inflation. That said, with global conditions improving it looks like we could've actually seen a drastically larger reduction in inflation if not for the tariffs. The goals of the tariffs seem so misaligned with what the country needs - again not surprising that we're doing something the opposite of what we need - and again also not surprising that his supporters don't seem to care.
I think the real issue is that for the powers that be, inflation is seen as either neutral or a good thing. The only people it hurts is the working class and the blame is nebulous. So it is used as a tool to increase taxes without changing laws, lower the cost of debt, and cut labor wages since they don't get pay raises commensurate with inflation. So I think it is a trick played upon the working class to screw them over in the long term while the wealthy are protected because all their assets simply go up in value with inflation. I think the target inflation rate should be 0%, not 2%. I simply don't believe the justification for the 2% target.
We're well above 2% anyway, I doubt they will ever hit that again - they are already having to cut rates because job market is frozen, and that will increase inflation pressure.
I track my spend each year and my personal actual inflation rate has averaged about 4.5% over past 5 years. And I'm pretty low income, my spending is all core stuff.
A weak economy bodes well for cash infused investors as fire sale prices arise.
I think we’ve crossed a line where we can no longer assume basic alignment with “our” leadership.
>It's disappointing, but not surprising, that people thought the president would make any really impact on inflation
Except that a president, in normal times, COULD make an impact on inflation, both directly and indirectly.
What is surprising, is that after a completely failed presidency that saw a marked decrease in middle class prosperity, people thought that Donald Trump, of all people, could bring inflation down.
man, i already can't wait for November to be over.
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How did you get that from my post? Not wanting consumer tariffs when inflation has been high is pro-communism?
Don't even bother, it's not a good faith argument.
Ask more widely. People want reasonable services from their government, and tighter regulation of markets, with elimination of profit-taking middlemen.
They want democratic socialism.
Meanwhile, the right wing has been telling them that public libraries and public schools and everything good except profit -- is communism.
> People want reasonable services from their government
Yes, though the definition of "reasonable" is a real sticking point
> and tighter regulation of markets
This is less clear to me, but I would agree people want less fraud and deception in markets
> with elimination of profit-taking middlemen
I don't think many people think about this at all, and it's another very nebulous term
> They want democratic socialism.
No, democratic socialists want democratic socialism. Most Americans do not.
> Meanwhile, the right wing has been telling them that public libraries and public schools and everything good except profit -- is communism.
I disagree with basically everything the current incarnation of the Republican party is doing or stands for, and silly statements like this aren't helpful.
So... socialism?
People don't "essentially want communism" by advocating for socialist policy. Serious economists will tell you that it is impossible to transition America's free market into a planned economy. We're capitalist through thick and thin.
> We're capitalist through thick and thin.
Yet there is a sizeable number of us who consider seriously promises to "lower prices of X" like it's a thing that can be done by decree. It's disappointing is all.
I love when people with 0 capital think they are capitalists. The greatest con pulled on the working class.
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>We're capitalist through thick and thin.
Exactly, people didn't used to even imagine there was any way to change nor think free-enterprise should be compromised for any special interests, the outcome had always been negative when lobbyists got their way too often with either party.
Remember why Ronald Reagan and the bulk of the American people from both parties absolutely hated Communism so much?
It wan't mainly the economic differences from a free-market system; that barely made it onto the radar and was largely academic.
It was the dictatorship aspect that was so disgusting and anti-American as can be.
Dismal economic considerations under Communist governments were well-recognized as a logical result of dictatorship, that had been obvious for centuries.
Otherwise there wouldn't have been as much ambition for subjects to withdraw from dictator/monarchy regimes and settle in America to begin with.
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