What do you believe is the primary cause of the current inflation in the United States? 📈

[TFSF]

 

[Jake Broe Stan]

Demand driven. You have millennials earnings and spending now plus all the boomer cash sloshing around in their retirements.

The reshoring push is driving it too as well as supply chain relocation.

 

[TFSF]

 

[Jake Broe Stan]

Slava America!

 

[weaponoffreedom]

I dont believe shit, if you make money out of thin air, eventually it catches up with you. Demand driven implies price gouging by everyone at the same time, which is impossible.

Shit does not cost more, it takes more to buy it, there is a difference.

 

[Taggart]

 

[Ip-tide Watercat]

rapid expansion of the currency base

 

[Jake Broe Stan]

Fed Chair Jerome Powell says money printing doesn't lead to inflation

www.kitco.com

In his testimony with Congress on Wednesday, Federal Reserve Chairman Jerome Powell said that historically, changes in the money supply level have not affected levels in inflation.

In response to a questions posed by Congressman Warren Davidson about whether “M2 [money supply] going up by 25% in one year” is going to “diminish the value of the U.S. dollar,” Powell responded, “there was a time when monetary policy aggregates were important determinants of inflation and that has not been the case for a long time.”

Powell added that “the correlation between different aggregates [like] M2 and inflation is just very, very low”.

 

[Pete_Cawthon]

Printing press go brrrrrrr

 

[hmt5000]

 

[Jake Broe Stan]

Jeremy discusses how notable inflation is a thing of the past and how the bear case is completely dead.

 

[skramer100]

Money supply is an easy answer and correct, but the stopping of us being energy independent is huge. Not having to worry about fuel drives all price lower. And with America exporting fuel that drives global prices lower. SO in the end, the New Green Deal is the driving force in inflation.

 

[Jake Broe Stan]

Money supply is an easy answer and correct, but the stopping of us being energy independent is huge. Not having to worry about fuel drives all price lower. And with America exporting fuel that drives global prices lower. SO in the end, the New Green Deal is the driving force in inflation.

This is false. America is more energy independent now that at any point during Trump’s admin.

https://www.forbes.com/sites/rrapier/2023/05/02/us-energy-independence-soars-to-highest-levels-in-over-70-years/

I don’t find this definition very useful, because we began importing crude oil before 1950, and we have imported it every year since. Under this definition, the U.S. hasn’t been energy independent in at least 75 years.

Thus, when someone says, “President Trump made us energy independent”, they are definitely not talking about this definition. During President Trump’s term, the U.S. imported an average of 9.3 million barrels per day (bpd) of crude oil and finished products per day.

However, if we consider the first definition, in 2019 the U.S. produced more energy than we consumed for the first time since at least the 1940s. It had been a steady march since 2005, when net U.S. energy imports hit a record high. But the shale boom unleashed huge amounts of domestic oil and gas, and by 2012 U.S. net imports had fallen to half the 2005 level.

By the time President Trump took office in 2017, U.S. net energy imports had fallen 75% from the 2005 level. In 2019, net energy imports turned negative, meaning the U.S. had become energy independent. So, while it is technically correct to say that the U.S. became energy independent while President Trump was in office, the reason was the shale boom that had begun in earnest in 2005.


Net U.S. exports grew from 0.61 quadrillion British thermal unit (Btus) — or “quads” — in 2019 to 3.48 quads in 2020. In 2021, President Biden’s first year in office, net exports increased slightly more to 3.62 quads.


Last month the EIA released data showing energy production and consumption numbers for all of 2022. You can see all the data here. In 2022, U.S. net energy exports grew to 5.94 quads, which is the highest number on record. Total U.S. energy production was also the highest on record. Overall, the U.S. produced 2.5% more energy in 2022 than we consumed. By comparison, in 2005 the U.S. consumed 44% more energy than we produced.

In conclusion, 2022 marked the highest level of US energy independence since before 1950. This milestone was achieved through a combination of factors, including the shale boom which led to a steady decline in net energy imports, rather than being solely attributed to any specific presidential administration.

 

[weaponoffreedom]

your moms douche budget