I don't think it's something we need to worry about. We've been at like ~2-3% annually for the past decade? We'll survive this with ease and there are more important things to worry about such as the fact that China is creating mock Ford Class aircraft carriers to test weapons. Having said that, the administration absolutely dropped the ball by not pretending to do something.



it is indeed real but the perception doesn't match the reality. Ultimately, it's not particularly important and there's not much governments can or SHOULD do. If we are at 9%+ inflation a year from now, that's when we should start worrying because that means that there's something systemic that goes beyond the pandemic and global supply chain issues.

This post was edited by thundercock on Nov 10 2021 05:05pm

It might not be particularly important for a privileged dude with a six-figure income like you, but it is obviously a huge issue for those who already struggled to make ends meet before the pandemic - of which there are tens of millions in your country.

we were told doing anything against China is “hysterical xenophobia” by the big guy in current administration

we are getting close to trending near double digits for the year across the board. and the even higher inflated prices are those that the working and middle-class have to bear more than the well off

I don't think we were told that but I understand your sentiment. Attacking Hong Kong refugees, people from Taiwan, and Han Chinese who left their horrible country IS hysterical xenophobia. Wanting to commit the 2nd Rape of Nanking, on the other hand, is a beautiful display of patriotism.

If you're this concerned about inflation, how have you adjusted your portfolio? To me, that's the real test in regards to perception vs. reality: what are the wealthy doing with their money?



If you're THAT sensitive to prices, then you need to consume less. End of story.

Having said that, politicians should NEVER EVER say that aloud.

with equities? i went heavy tech, faang, tesla, and emerging markets again starting in may, like i did most of last year when lockdowns started

how i or some fund manager reallocates their portfolio is inconsequential here, our job is to make money not fix inflation. for this, one should follow the politicians alllcation of funds

people should consume less gas on their route to work while the harris/biden admin is begging opec+ russia to produce more oil and price it cheaper? or consume less input prices for goods and services?

That's the thing: just being invested in the stock market is enough to insulate against a lot of the inflation. But that requires having enough capital to invest into a sizeable portfolio in the first place, which most poor people do not.



Telling people groaning under the burden of soaring grocery, material and gas prices that they consume too much is quite tone deaf. Yes, it effectively does mean that they need to consume less - but that's the point: below a certain level, all the consumption you still have is existential and cutting it down any further is a huge, disproportionate sacrifice.


Yes, in rich countries, inflation will not develop into a question of life and death - but it's still a huge social justice issue because it hurts a lot of the poor much harder than those with tons of disposable income and a girthy stock portfolio.

What do you think about the fact that the CIA sent Chiang-Kai Shek (the last emperor of China) defective weapons and caused the Communists to overtake China as a result?

I think you're missing my point. If you and the rich aren't changing their investment strategy (and neither am I), then we effectively don't think it's a financial issue.

The poor can consume less however they'd like. I really don't care because it's not my problem. If you're barely scraping by and are affected by a 6% increase in the price of milk, you're probably fucked regardless.

Shut the fuck up. For the past month, you've been whining about the Democrats trying to fund parental leave, universal pre-K, etc. Now you're being disingenuous and pretending to give a shit about the poor. Your rhetoric is disgusting and I think you need to quit listening to AOC/Sanders. The entire world is affected by supply chain issues and people just need to deal with it. My grandma had to wipe her ass with newspaper during the Depression so I have very little sympathy for people who cry about a 30 cent increase in the price of milk from their smart phones. Like I said, the administration needs to engage in theatrics in order to make people think that the Dems know what they are doing. Failure to do that will result in many Democrat voters staying at home and Republican voters galvanized. Any administration is going to take blame for the state of the economy and that's just the nature of politics.



If we could see into the future back then, we should have done everything possible to break the alliance between the Nazis and Japs so that we could allow the Japanese to destroy China.

i said I changed it. i changed it to more profitable shit. i can “beat” inflation in some ways doing this. a lot of people cannot.

still costs $50 to fill up a tank, raw materials are still up probably double from last year for a lot of important materials used in production. somewhat related are supply chains and costs of goods and services overall. this hampers small businesses all over the place

this isn’t about 6% more expensive milk, although thanksgiving is gonna be much more expensive.

https://www.dailymail.co.uk/news/article-10130361/This-years-Thanksgiving-feast-bite-wallets-holiday-staples-pricier.html

but fuck all those people, says the 81 million harris/biden supporters

Paid leave is a policy proposal that often primarily helps the middle class, though see the implementation of it in Canada and the corresponding criticisms.

People listen to AOC and Sanders because they have a lot of influence within the party. The perception is that Biden has caved to the progressives, and Sanders is now an elderly statesman.

Biden was elected to run a moderate presidency, that's not the perception. Talking about giving hundreds of thousands to illegal immigrants isn't just criminally unpopular with the masses, it actively shapes the public perception of the administration. Take a look at the share of voters who strongly back his performance. It's abysmal, worse than both Trump and Obama.