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What are Biden, Booker and the other 2020 presidential candidates proposing to do about INFLATION?

 
 
Reply Sun 21 Jul, 2019 01:23 pm
Hi. I don't know too much about the 2020 presidential race, but I know Joe Biden and Cory Booker are running. What are Biden and Booker and the other candidates proposing to do about inflation, if any of them get elected?

Something NEEDS to be done about inflation. It needs to be reduced or eradicated entirely.

I've complained about how expensive grocery shopping is now, in this day and age. I usually spend around or at least $100, even with coupons and a store discount card. The cost of living has gone up. I've learned that It costs a lot of money to buy and service washing machines and dryers now.

Things did not cost as much as they did back in the '80s and '90s- in fact things cost a lot LESS.

Please help- thank you.
 
Sturgis
 
  1  
Reply Sun 21 Jul, 2019 02:44 pm
@JGoldman10,
Of you want to know more, so a bit of internet research.

Contact candidates directly, either through e-mail or phone call or mail or a visit to a campaign office if there's one nearby.

To get you started on learning about all the current candidates, visit www.ontheissues.org

As to higher costs, wages have also increased. Not near as much; but, such is how it goes.
0 Replies
 
Jewels Vern
 
  -4  
Reply Sun 21 Jul, 2019 09:41 pm
Inflation is the result of having a central bank. Politicians have no control over it. Creation of money was turned over to our central bank in 1913 and the "roaring twenties" was the immediate result. Hoover acted to restore honest money and normal prices and he is blamed for the great depression. You can be sure no other politician will ever make that mistake again.

You can go to fee.org and/or mises.org to learn a few things about money and economics.
0 Replies
 
izzythepush
 
  1  
Reply Mon 22 Jul, 2019 01:06 am
@JGoldman10,
If you eradicate inflation you bring about stagnation, and deflation, where people put off purchases in the expectation things will be cheaper next week.

A healthy economy needs a pinch of inflation.
nacredambition
 
  0  
Reply Mon 22 Jul, 2019 02:27 am
@JGoldman10,
Wow, $100.

Take me through a typical weekly shop.
JGoldman10
 
  0  
Reply Mon 22 Jul, 2019 05:07 am
@nacredambition,
Around or at least $100. Almost every time I grocery shop. On rare occasions I've spent almost $200. One time I spent over $200.

That is a LOT- that adds up.

Groceries did not cost this much back in the '80s and '90s.
izzythepush
 
  1  
Reply Mon 22 Jul, 2019 05:16 am
@JGoldman10,
People didn't get paid as much back in the 80s and 90s.
JGoldman10
 
  0  
Reply Mon 22 Jul, 2019 05:29 am
@izzythepush,
Look up the costs of things back in the '80s and '90s vs. the costs of things now.
hightor
 
  1  
Reply Mon 22 Jul, 2019 05:30 am
@JGoldman10,
Quote:
Almost every time I grocery shop.

Food prices are inherently unstable due to unrelated costs like oil used for fertilizers and shipping and uncontrollable factors like weather.

Check out this USDA report:

Food Price Outlook, 2019
0 Replies
 
JGoldman10
 
  0  
Reply Mon 22 Jul, 2019 05:31 am
@JGoldman10,
JGoldman10 wrote:

Around or at least $100. Almost every time I grocery shop.


And I grocery shop MORE THAN ONCE A WEEK, usually.
0 Replies
 
izzythepush
 
  2  
Reply Mon 22 Jul, 2019 05:39 am
@JGoldman10,
Look up the cost of things in the 60s/70s compared to the cost of things in the 80s/90s.

Food prices in America are incredibly cheap compared to the rest of the developed world.

Inflation isn't a new thing, it's been going on for centuries.
livinglava
 
  0  
Reply Mon 22 Jul, 2019 08:35 am
@izzythepush,
izzythepush wrote:

If you eradicate inflation you bring about stagnation, and deflation, where people put off purchases in the expectation things will be cheaper next week.

Retailers can stimulate sales by offering discounts ahead of the deflation curve. If consumers have the choice between waiting a year to pay $90 for a $100 TV or getting next week on sale for $90, many will take the deal even though they know they could wait a year and maybe buy it on sale for $80 from a regular price of $90.

Deflation would be a good thing because it would actually cause consumers to have more confidence that their savings will be worth more in the future. With inflation, wise consumers avoid buying anything they can avoid buying out of fear that they might not even be able to afford necessities later on.

Democrats support raising minimum wage and wages in general, which is the same thing as supporting inflation. Everyone wants to make more money, so the democrats basically buy votes by promising higher wages and other monetary benefits (e.g. student loan forgiveness).

In reality, the only way to increase real wages (i.e. wages adjusted for inflation) is to change the parameters of what is actually produced and consumed within the economy.

Really, any product or service can be deflated by producing enough of it to eliminate scarcity and inducing price-competition. This usually doesn't happen, however, because business influences government to maintain supply-side control through permitting, licensing, etc.

The government then rationalizing their subservience to business by saying that price deflation deters business investment. In reality, people/business would still produce products and services in a deflationary market because making some money is better than making no money.
0 Replies
 
tsarstepan
 
  1  
Reply Mon 22 Jul, 2019 09:25 am
@izzythepush,
izzythepush wrote:

Look up the cost of things in the 60s/70s compared to the cost of things in the 80s/90s.

Food prices in America are incredibly cheap compared to the rest of the developed world.

Inflation isn't a new thing, it's been going on for centuries.

And prices back in the 1880s and 90s were INSANE! Nobody (sane) wants to regress to the turn of that century. Other than maybe uneducated/undereducated Trump voters.
JGoldman10
 
  -2  
Reply Mon 22 Jul, 2019 10:05 am
@tsarstepan,
Why are you bringing the 1880's and 1890's up?

We were talking about the late 20th century.
tsarstepan
 
  2  
Reply Mon 22 Jul, 2019 10:27 am
@JGoldman10,
JGoldman10 wrote:

Why are you bringing the 1880's and 1890's up?

We were talking about the late 20th century.

Just to prove a point that one ABSOLUTELY SHOULDN'T fetishize all things previous decades what you've been doing here. That obsessiveness is dangerously naïve and keeps you from understanding politics and what's happening in the real world at this given moment (as well as what life and culture could possibly move onto in the future).

Things will not and SHOULDN'T ever regress culturally, politically, etc... several decades. That's dangerous thinking, especially for a minorities like you. It's not cute that you want to pick and choose aspects from 4 decades ago and hoping the negative traits of those times will not also come along for the ride.
JGoldman10
 
  -1  
Reply Mon 22 Jul, 2019 11:08 am
@tsarstepan,
It's called being NOSTALGIC. And why are you playing and pulling RACE CARDS?

"DANGEROUS THINKING FOR MINORITIES?" I AM AN INTELLIGENT PERSON. YOU WOULD NOT BE SAYING THAT CRAP IF I WERE A CAUCASIAN MALE.
izzythepush
 
  2  
Reply Mon 22 Jul, 2019 11:21 am
@JGoldman10,
If you were a Caucasian male you'd have less to fear from cultural regression.
0 Replies
 
chai2
 
  4  
Reply Mon 22 Jul, 2019 03:48 pm
@JGoldman10,
JGoldman10 wrote:

It's called being NOSTALGIC.


Notaligia is being sentimental about the past. Cherry picking certain things and not working in the other aspects of the same time.

Well if you're being nostolgic for the lower prices of yesteryear, why aren't you giving the same consideration to the lower wages of those same years?

I found an online inflation calculator and entered the salary I had at my first post college job in 1982.
Converting it to the last year I worked it equaled a little bit less than the wage I made at my last job.

When I compared it to 2019, the number was what I would have totally expected to make if I were still working full time.

Also, I don't get what you are spending $100 to $150 on groceries in a week. Although, actually, in your first post you never gave a time frame, only saying you spend $100 a grocery trip.

My husband and I are in the fortunate position of being able to buy pretty much anything we want food wise
I buy rib eye or new york strip steak, fresh shrimp, pork loin, pasture raised eggs, kerry gold butter, the best cheese, olives, salami, uncured bacon. Also plenty of avocados, freshly squeezed lemon juice at $5 a pint, soup from the hot soup bar at $8 a quart and already prepared foods from the chef area. Plus plenty of fresh vegetables.
I go shopping 2 or 3 times a week, as the market I use is right down the road and I'm always needing something. I doubt we spend more than around $110 to $120 for the two of us.

What in the world are you eating anyway?


livinglava
 
  -3  
Reply Mon 22 Jul, 2019 05:40 pm
@tsarstepan,
tsarstepan wrote:

And prices back in the 1880s and 90s were INSANE! Nobody (sane) wants to regress to the turn of that century. Other than maybe uneducated/undereducated Trump voters.

There's nothing insane about wanting your savings to grow in value through time without having to lend it out.

The more prices deflate, the slower you run out of money by spending on the things you need.

The reason people fear deflation is because they have debts. If your debts stay the same while prices and wages are going down, it's going to take longer to make the money you need to repay those debts.

That problem could be solved by simply creating a mandatory negative inflation rate on debts:

The government would just have to make a law that any debt incurred in a given year must be adjusted for deflation. So if your mortgage amortizes to, say, $500.000 over 30 years and the deflation rate for those 30 years ends up being 30%, then you would only owe 70% of $500,000 or about $350,000.

0 Replies
 
JGoldman10
 
  0  
Reply Tue 23 Jul, 2019 02:23 am
@chai2,
If you must know I grocery shop for 3 people, myself included.
 

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