Tag: Inflation

Rob Long in for Jim today.  Rob and Greg get a kick out of Democrats in multiple states gearing up for 2022 by not mentioning they are Democrats or by criticizing their own party. They also shudder as economists expect this inflation to last for years and media acts like Biden policies have nothing to do with it. And they discuss how horribly wrong President Biden was in claiming the illegal immigration surge at our border would taper off when the summer heat arrived.

Member Post

 

Earlier today, the Bureau of Labor Statistics released its monthly inflation report, as measured by the Consumer Price Index (CPI).  Here are the two key graphics. (1) One-month percent change in CPI, seasonally adjusted:  This graph shows the inflation for each specific months from June 2020 through July 2020. Preview Open

Join Ricochet!

This is a members-only post on Ricochet's Member Feed. Want to read it? Join Ricochet’s community of conservatives and be part of the conversation. Get your first month free.

Member Post

 

Since we are entering a period of inflation that will make us look upon the 1970s with wistful nostalgia (much in the same way that Gov. Gavin Newsom makes us wax nostalgic for the conservative days of Gov. Moonbeam, Jerry Brown), those of you who are David Baldacci fans may recall his 1997 book Total […]

Join Ricochet!

This is a members-only post on Ricochet's Member Feed. Want to read it? Join Ricochet’s community of conservatives and be part of the conversation. Get your first month free.

Jim and Greg discuss a rebuke by 12 House Democrats of Rep. Ilhan Omar’s tweet comparing the U.S. and Israel to the Taliban and Hamas, the new record-breaking numbers of border crossings in May, and the continued expansion of inflation.

Inflation for Dummies

 

Excerpts from my book, Money and Wealth: A Lifetime of Learning, Book 2

Imagine two groups of people: Those on Gold Island, who have a moral conscience, and those on Silver Island, who are a mix of those with a moral conscience and those who do not, or who are mixed within themselves. They begin trading with each other. Both have created the same system of money, using gold and silver coins of similar value.

The main difference is that Gold Island money is stamped with the words “Gold Island” and Silver Island money is stamped with the words “Silver Island.”

Member Post

 

Those of us who were done with college, starting careers, trying to buy homes (and gas) during the late 1970s and early 1980s know what inflation is. If you’re under 50, especially under 40 years of age, you have no clue. With all due respect. Let me put it in perspective. A $100,000, 30-year mortgage […]

Join Ricochet!

This is a members-only post on Ricochet's Member Feed. Want to read it? Join Ricochet’s community of conservatives and be part of the conversation. Get your first month free.

Join Jim and Greg as they dissect the Democrats’ push for a commission to investigate the Capitol riot on January 6 and point out that the 9/11 commission was not the success that Democrats are now pretending it was. They also groan at another report showing the biggest jump in inflation since 1992. And they get a kick out of a new book on the 2020 campaign pointing out the very particular conditions that Bernie Sanders insisted upon while on the road.

Jim and Greg cheer Wisconsin Sen. Ron Johnson for calling out the massive amount of deficit spending since the pandemic, how we don’t need the trillions more being pushed in Biden’s agenda, and how runaway inflation is a real danger.  He’s right, but will people listen after Republicans spent big when they had control?  They also react to a new report showing more than 33,000 people came to our southern border last month who were not from Central American countries.  And they shake their heads as NIH officials admit to Congress that the Biden administration never consulted with them before shutting down a State Department probe into the origins of the COVID pandemic.

In this episode of The Dave Carter Show, Ricochet Editor in Chief Jon Gabriel stops by to discuss the disconcerting similarities between the Biden Administration and that of former President Jimmy Carter. With unemployment and inflation on the rise, an emboldened Iran stirring up mischief in a once-again troubled Mideast, gas lines and an emerging energy dependent America that shows signs of weakness abroad and an increasingly centralized government at home, one wonders if bell bottoms and disco can be far behind.

Then, longtime Ricochet Member Franco calls in to talk about his latest article, “Moralism by Proxy,” and the political implications of policy morality versus personal morality. It’s a fascinating discussion you won’t want to miss. In fact, you won’t want to miss a single minute of this intriguing episode.

Poverty Is ‘Scarce’ In Venezuela (The Guardian 7 Years Ago)

 

The Guardian published an article about Venezuela’s “success” in 2013. It is still up and now titled, “Sorry, Venezuela haters: This economy is not the Greece of Latin America: Predicting a Venezuelan apocalypse won’t make it happen.” (Of course, they’d gladly trade places with Greece today.)

For more than a decade people opposed to the government of Venezuela have argued that its economy would implode. Like communists in the 1930s rooting for the final crisis of capitalism, they saw economic collapse just around the corner. How frustrating it has been for them to witness only two recessions: one directly caused by the opposition’s oil strike (December 2002-May 2003) and one brought on by the world recession (2009 and the first half of 2010). However, the government got control of the national oil company in 2003, and the whole decade’s economic performance turned out quite well, with average annual growth of real income per person of 2.7% and poverty reduced by over half, and large gains for the majority in employment, access to health care, pensions and education.

Now Venezuela is facing economic problems that are warming the cockles of the haters’ hearts…

Member Post

 

I can’t figure out this economy.  My company manufactures medical fridges, but we can’t produce several of our products at the normal rates because we can’t get parts.  Also frustrating is that several of the parts we use have doubled and tripled in price.  No exaggeration.  What is going on? The shortages and inflation are […]

Join Ricochet!

This is a members-only post on Ricochet's Member Feed. Want to read it? Join Ricochet’s community of conservatives and be part of the conversation. Get your first month free.

Join Jim and Greg as they dissect three lousy reports that highlight deeply flawed Biden administration policies, from huge numbers of people coming to the border, to a record number of available jobs that aren’t being filled, to very disturbing inflation numbers. And each of these of these problems was easily foreseeable.

Join Jim and Greg as they see some glimmers of good news for Putin critic Alexei Navalny but wonder how firm the Biden administration really plans to be when it comes to Russia. They also shudder as prices for fuel, food, and other goods, are clearly on the rise. And they call out Rep. Maxine Waters for suggesting anything less than a guilty verdict for murder in the Derek Chauvin case should result in more confrontation in the streets.

Join Jim and Greg as they welcome news of a “blackout: at the Natanz nuclear facility in Iran, and whether Israel is behind it or not, they’re glad to see it. They also unload on President Biden who is unconcerned about inflation following his massive spending binge because someone else will likely be in office when it gets really bad. They also call out Vice President Harris for apparently doing nothing about the border crisis since she was put in charge of it and the media who refuse to demand answers. Finally, they offer their well wishes to Texas Rep. Dan Crenshaw in the wake of concerning medical news.

Join Jim and Greg as they hammer the COVID relief provides very little COVID relief but hundreds of billions to irresponsible states and cities and political allies of the Democrats. They also throw up their hands as the CDC and Dr. Fauci are reluctant to let fully vaccinated people resume their lives. And Jim explains why the media ‘s hysterical coverage of Texas opening back up is way overblown.

Member Post

 

The latest COVID relief/stimulus bill, now about to emerge from the US House, is a boondoggle on steroids. But there are many more things at stake. How this plays out. Well, there you have it. Some 70% of Americans support President Biden’s and the Democrats’ $1.9 trillion COVID 6.0 relief/stimulus package. That’s right, the 6th […]

Join Ricochet!

This is a members-only post on Ricochet's Member Feed. Want to read it? Join Ricochet’s community of conservatives and be part of the conversation. Get your first month free.

Join Jim and Greg as they discuss former Clinton Treasury Secretary Larry Summers warning that the Biden COVID relief bill is way too big and could trigger the worst inflation in decades. They also shake their heads as White House Press Secretary Jen Psaki suggests the CDC director’s recommendation to open schools is just her personal opinion and they have to wait for the science. And they react to news that Hunter Biden is writing a tell-all book and are pretty sure he plans to skip a lot of stuff.

Member Post

 

In 2015, I reviewed Hans Fallada’s great novel of the late Weimar era, Little Man, What Now?   Today’s review is of another Fallada novel, this one set earlier in Weimar, during the time of the great–insane–inflation. Wolf Among Wolves tells the story of a collapsing society through the intertwined lives of many characters, who include: […]

Join Ricochet!

This is a members-only post on Ricochet's Member Feed. Want to read it? Join Ricochet’s community of conservatives and be part of the conversation. Get your first month free.

Paul Volcker, R.I.P.

 

Paul Volcker died today at age 92. A colossus of a man both physically (at 6’7″) and professionally, it sometimes seemed to me his achievements at the Federal Reserve were eclipsed by “maestro” Alan Greenspan who succeeded him in 1987. A full recounting of his career is impossible, of course, and he did much after leaving the Fed, a job he never asked for but served when asked.

In his biography of Greenspan, The Man Who Knew, Sebastian Mallaby notes that Volcker was deeply influenced by a speech in Belgrade in September 1979, weeks after his appointment. Arthur Burns gave the speech, a former Fed chair himself, who claimed that the independence of the Fed was over because monetary experts had too many questions to speak with one voice against political pressures. Mallaby argues that the desire to wring inflation out of the US system, characterized by the Saturday Night Special announcement that Fed policy was being fundamentally changed, was Volcker’s attempt to prove Burns wrong. (As I was writing this, Mallaby has released a version of this point in his retrospective of Volcker today.) Thus began the long disinflation that was the achievement of Volcker’s career.