Percentage of people struggling to pay their bills

thanks again inept joe.

 

Rent is crushing people

 

Glad I bought my house in 2016. I paid 43k for it.

 

Buying a fixer upper at the bottom is always a good idea.

 

Condos wete selling after the crash for $30k in bk sell now getting $1200 a month in rent. Kills me that I didn't buy a handful when I had a chance

 

I'm assuming you have some basis for that statement. So, I'd be interested to know your fact based opinion about what President Biden has or has not done to cause inflation not only here, but also in, say, Western Europe.

 

Kill oil independence/availability, and low cost of gas, and watch everything get far more expensive... It's that freaking simple.

All part of the plan....

 

There's no need for me to point out how wrong your "facts" are, or that nothing is "freaking simple". I'll assume you have to keep them simple, and, for sake of argument, that you're correct: inflation is the result solely of Biden's misguided energy policy. But, that doesn't explain inflation in Europe. Have you considered that it might be a complex, not a "freaking simple", global issue?

And what "plan" is this "all part of"?

 

I feel like public education failed you. As a taxpayer I’m sorry for the job we did.

 

“nfaltion is a global phenomenon right now — and the U.S. has actually fared better than other countries in recent months. In June, consumer prices in the U.S. increased 9.1 percent over the previous year; they increased 9.6 percent across the E.U. in the same time period.”

I realize, unfortunately, that this won’t really matter to voters in November. It’s human nature to want to make a change, even a futile one, when the economy is going badly. The House is almost half nuts anyway. It might as well be mostly so. I just hope the Dems can keep control of the Senate.

 

There is no shortage of oil. Refinery capacity and war drove fuel and food prices up. Biden had nothing to do with either

 

Even cursory research will reveal that inconvenient truth. I wonder what facts the right has which suggest otherwise. I’m open to modifying my opinion, but come on man responses to the various posts tend to indicate my and others’ opinion is correct.

 

Inflation is a killer and yes inflation is running rampant on a global scale. That however has nothing to do with inflation in the US.

Anyone who asks the question of how President Biden is responsible for high inflation rates around the globe thinking this somehow absolves the US from our woes of inflation is asking the wrong question.

Individual nations are responsible for their own fiscal decisions which factor into inflation. The decisions we have made of late certainly have a lot to do with the pickle we find ourselves in. Blame it on COVID, blame it on supply chains, blame it on foreign policy, blame it on the war in Ukraine and blame it on the money supply all of these factor into where we find ourselves today. How much each of those blames contributed to the current inflation rate is unknown. What is known is COVID and our polices concerning COVID are at the root of all of it.

Hong Kong tops the list of nations with the smallest inflation rate at 1.2%

10 Countries With Lowest Inflation Rates in the World

The case for some of the countries with the lowest inflation rates, also known as deflation, can be traced to their limited economic activities, low money supply and/or a decrease in the supply of credit. While other economies have been supported by their exports of today's most valuable products, namely oil.​

 

I am puzzled as to why people believe the equity in home ownership is a hedge against inflation. I can understand borrowing against equity to get by but that only adds to personal debt. Selling the home might be an option and for some it becomes the only option. In any case people have to live somewhere which means rent or own. If you can't cover your bills, selling or borrowing against your home is nothing more than relief for a short period of time. When rent is at an all time high and inflation is running rampant seems to me you dig the hole a little deeper instead of filling it in.

 

So Biden is responsible for OPEC raising the price of oil to more than $100 per barrel? Yeah, right!! I don't understand how people have this fantasy that if we completely open up our oil supply and allow unlimited pipelines, etc that the oil companies will reduce their prices for a barrel of oil to way below what OPEC charges. Guess what, they won't do it!! They're going to make as much profit as they can while they can to satisfy their stockholders. Stop promoting this BS fantasy about pipelines, etc.

 

There are several reasons I can think of and you're right President Biden isn't one of them.

Concerning US oil and gas the US went full steam ahead into a realm of globalization as did Europe. We let somebody else provide the services without looking at a map and making a determined effort to provide for ourselves. Europe trading the Middle East for Russia all in the name of green energy and the US backing the Middle East to maintain global supply.

1. Globalization
2. Refining capacity
3. Oil production
   
4. Going all in on renewables before we are ready

​

 

A house down the street and reasonably comparable just sold for 295k. I have put about 30k cash and probably another 30k in sweat equity into it. So I think I m good. lol

 

Is this a good list to be on? There isn’t even much nuance as to why China and Hong Kong had low inflation, China has maintained zero covid policy and lockdowns for much longer, essentially they are stifling their own internal domestic demand (which nobody denies “lockdowns” will do). China have seen little inflation because they’ve shuttered much more of their economy for a much longer period of time than pretty much any western nation. The U.S could do that too if it intended to. As China is a major exporter of certain goods categories, their shutdowns (and the resulting supply chain impacts) have also contributed to global inflation outside their borders. In short: a chunk of global inflation is actually caused by China’s continuing COVID lockdowns (which we have absolutely zero control over). Our only response is to produce domestic goods at higher prices… not exactly an overnight shift, most global corporations who use China are probably playing wait and see or looking at other (low labor cost) developing Asian nations to diversify into.

It’s not really useful to compare the U.S. to developing or non-western economies…