Quote:
Originally Posted by cgjackson222
Target inflation is 2%.
Monthly inflation has been between 3 and 4% for a few months. .
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The economist I read says the new normal will likely not be 2% again. Economists will be happy with 3-4%. So we might now be back to normal.
Quote:
Originally Posted by chalupacollects
This economy was caused by the self-inflicted pain caused by this inept president and his administration the people voted for. Sure, there were supply issues due to covid but that was now 2 years ago. And even some of that was self-inflicted by keeping ships out of harbor in NY, LA and Baltimore...that's why prices increased because people aren't quite sure when the shoe will drop us straight into a recession/depression...or a war...
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Not being political, but Pres Trumps tax cuts and import/export war with China caused inflation before COVID. The trade war with China caused prices on clothing to soar even before the factories shut down. My mom, a quilter, was complaining about prices of cloth in 2018. Both economic policies had unintended consequences when paired with COVID and stimulus legislation.
Trumps replica across the pond, Liz Truss, tried to pass tax deductions in 2022 (while already mired in deep inflation) and lost her job after just 6 weeks.
The US is going to see a lot of belts tighten significantly after Christmas due to college loan payments restarting. Mine are $450/month, and I have fewer loans than the average college graduate. I also have an advanced degree. It's probably a good thing. Not sure if it will cause a recession.
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Last edited by todeen; 11-16-2023 at 08:01 AM.
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