Why is the inflation rate so painful?

This effort to deny the obvious is mind boggling.

Same vein as Con-a-lot economics was against fracking and now is for fracking. If you believe that I have a bridge for sale.

If gas was plentiful, why am I paying over $5.00 per gallon? Restrictions on supply and increasing taxes on every gallon sold.

Here is the plain, unabigous truth, Bribe-O-nomics brought economic misery to working class Americans and no about of "don't believe you lying eyes" disinformation will alter reality.

If you still believe this government's sources, the roof was too slanted for Secret Service to safely deploy there. If you believe that I have another bridge for sale.

 

"In the months leading up to the Covid-19 pandemic, U.S. oil production hit an all-time high of just below 13 million barrels per day (BPD). As the pandemic unfolded, demand collapsed, and production followed. By May 2020, oil production had dropped by more than 3 million BPD to 9.7 million BPD.

Since then, demand has recovered to pre-pandemic levels. Oil production, however, has only partially recovered. The most recent data available from the Energy Information Administration (EIA) shows current U.S. oil production at ~11.6 million BPD — still 1.4 million BPD short of pre-pandemic production. This shortfall is a major factor that led to the run-up of oil and gasoline prices over the past year." [from the internet]

It appears both sides of the issue have their "own" facts and talk in circles.

 

I did not say the average price was $5.00, I said I pay that in California due to blue state maleficence.

 

One ploy is to question the source, then claim it is no good. Why not address the issue.

 

Does gas cost $5.00 in California due to blue state malfeasance?

Under the Biden/Harris administration, the inflation rate spiraled up from about 2% to about 9%, but has come back down to a little over 3%, or just a little higher than the about 2% under Mr Trump's administration.
So why are we feeling so much pain?

First inflation is cumulative. Four years at an average of say 2.5% adds to 10% total, but four years at an average of say 5% adds to about 20%.

But that is only part of the answer. In order to rein in inflation the Fed raised interest rates resulting in the average mortgage rate going from less that 3% to over 7%. That does not sound too bad, but average monthly mortgage cost rose from just under $1000 per month to over $2000 per month. Ouch!

So the economic pain index costs up about 100% with the anti energy, open border, feckless foreign policy with more citizens dying from overdose during the administration than from our citizens during the Viet Nam War.

 

Folks anytime a poster starts addressing their opponent, i.e. you are a terrible debated, and starts addressing how something is presented, rather than addressing what was presented, that poster knows he or she has run into the wall of reality.

"In the months leading up to the Covid-19 pandemic, U.S. oil production hit an all-time high of just below 13 million barrels per day (BPD). As the pandemic unfolded, demand collapsed, and production followed. By May 2020, oil production had dropped by more than 3 million BPD to 9.7 million BPD.

Since then, demand has recovered to pre-pandemic levels. Oil production, however, has only partially recovered. The most recent data available from the Energy Information Administration (EIA) shows current U.S. oil production at ~11.6 million BPD — still 1.4 million BPD short of pre-pandemic production. This shortfall is a major factor that led to the run-up of oil and gasoline prices over the past year." [from the internet]​

 

Yet another against the person logical fallacy argument. I repeat presentations on the thread topic to return discussion to the topic, rather than allow the thread to be derailed into you are as bad as me tit for tats.

 

Again, an effort to shift the blame from the Administration to nameless bureaucrats. During WWII, the government spent big time, but the effort was to put people to work on what was needed to win the war. Now the spending is to compensate people for not being productive, to spend time in endless years of "higher education" where they learn the technology of the past, and the world view of the past.

Communism brought 70 years of misery to the Soviet Union, yet College students today seem to buy the Marxist screed. Yet the BLM trained Marxist leaders took the money and bought big houses! The colossal con job by those who do not produce spawns waste, destruction and anarchy.

 

Again, an effort to shift the blame from the Administration to nameless bureaucrats. During WWII, the government spent big time, but the effort was to put people to work on what was needed to win the war. Now the spending is to compensate people for not being productive, to spend time in endless years of "higher education" where they learn the technology of the past, and the world view of the past.

Communism brought 70 years of misery to the Soviet Union, yet College students today seem to buy the Marxist screed. Yet the BLM trained Marxist leaders took the money and bought big houses! The colossal con job by those who do not produce spawns waste, destruction and anarchy.

 

One more log on the inflation pain fire is the rising delinquency rates for borrowers. Currently they are higher than the pre-pandemic level. For example an added stress of for working people is the rapid increase in vehicle prices, up about $8,000 since 2000. Used cars up from about 20,000 to about 28,000 and new cars up from about 40,000 to about 48,000.

So another double whammy, it costs more to buy, and then more to borrow to buy.