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this post was submitted on 28 Nov 2023
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Cool. So what’s he gonna do about it? Or was this it?
What can he do about it? We live in a free market society. All he can do is keep talking about it and hope the people get the message. Rebellion will start at the consumer level and go up, not the other way around. Main problem is the millions of people that rely on Fox for their news.
Use the anti monopoly laws we have in place to prevent price gouging from lack of competition
He issued an executive order in 2021 to do just that, among many other things to promote competition. There has definitely been an uptick in antitrust cases since then, and inflation has also decreased significantly.
https://www.justice.gov/atr/antitrust-case-filings
Sorry to be pedantic on the internet (lol) but it might be more accurate to say inflation has slowed.
Up like a rocket down like a parachute.
Except the unfortunate part is that it is always increasing, it's just a derivative, rate of change. But the massive boost from months of heavy inflation is now here permanently, so we're adding 2-3% on TOP of the already-inflated costs. But that's not telling the full story, it is the value of the US dollar going down primarily. Buying power is lower by definition, but because of that, everyone on the bottom end is getting squeezed beyond anything they are ready for and it's going to eventually cause civil unrest on a larger scale.
That's exactly the point of my analogy. Wtf.
Parachutes come down, Inflation just goes up slower.
He picked two points in time and described a number that was fixed at each instance, so decreased works fine.
But it didn't decrease, the rate of increase is what decreased. Inflation is a measure of acceleration, 7% and 3% are both increasing inflation.
If you're accelerating slower, you've decreased your acceleration.
But you are still moving. The dollar is worth less.
Then the original comment should have been pedantic about the fact that they're clearly talking about the rate of inflation even though they referred to it simply as "inflation". The rest of us got that.
Which would mean it didn't decrease if inflation was a measure of value. But it's not. It's a measure of speed of change in value.
Yeah, this
Oh look at that, you accidentally stumbled onto your own answer for why measuring a deceleration counts as a decrease, good for you!
"In the fall of 1972 President Nixon announced that the rate of increase of inflation was decreasing. This was the first time a sitting president used the third derivative to advance his case for reelection." (p. 1108)
Burn the pedant!
I still think decreased is accurate though, the rate of inflation is significantly smaller today vs then, so the rate has decreased
Yeah if it was deflation that would’ve been a huge deal because our economy is built on an inflationary assumption and deflation would crash it
The bipartisan PPP (passed under Trump) was insane.
lets add taxing the shit out of people who do this to the list.
How would you like the President of the United States to do that? Do you think the President is a dictator that can just unilaterally pass sweeping legislation? How do you think the public would react if the President had the power to directly determine the prices of goods? How do you think that would go in general?
The fact this is even in the negatives a tiny bit really demonstrates the typical political intelligence of your average voter.
You’re of course completely correct, and Biden has indeed done everything he LEGALLY can do, which is probably why we’re suffering far less than a lot of the rest of the developed world economically speaking.
People just like to shout at the wind, it seems.