S&P at 3,666

[dryheat]

Kind of a scary number. The fed is raising rates to tamp down inflation but does that scare most folks. It might drag down business but will it have an effect on inflation? When a third of the country are 'millionaires' (heck a decent house is 500K) do $5 potato chips bother them? A dinner out (and they eat out a lot) costs $30 - 40. High prices at the grocery store is meh to them. It's their normal. But not mine. Getting inflation down to the 2% level doesn't make me happy. If housing crashes and the average home costs $300K- great the rich can load up on more houses. A lot of folks still won't be able to buy one.

[Merc]

Blame the current administration for our inflationary problems. Restricting oil production was probably the worst. Yet, half the country will still vote for liberals.

[togor]

If someone has a magic bullet for how to exempt the US from worldwide inflation problems, well for heaven's sake file a patent then tell the world. Don't keep it a secret!

Compared to Russia, China, Europe, Iran, the US is in such an enviable position right now that it isn't funny. No effing wonder we're getting hammered at the border. Would love to see Congress sack up and make the tough calls.

[Johnny P]

This all started about 21 months ago. Oh my, what could the problem be?

[lyman]

please try to keep the topics remotely political in the correct section,

not going to move or delete,, yet, but want to make sure we , as in the members, keep the topics here in this section as apolitical as possible

[dryheat]

Quantitative Easing started during the Bush Administration. Obviously you're old enough to know that?

Right on that one. Our economy sometimes is like fishing; you gently tug on the line until you get a bite and then yank the heck out of it and drag the fish in. Repeat.

RKT's post stands for all eternity.

[Vern Humphrey]

This all started about 21 months ago. Oh my, what could the problem be?

And has affected the rest of the world. Truly is it said, "America sneezes and Europe catches cold."

[Mark in Ottawa]

Blame the current administration for our inflationary problems. Restricting oil production was probably the worst. Yet, half the country will still vote for liberals.

The inflation problem is world-wide. I don't think that you can blame any one government or country for all of the problems. Certainly, the Russians are due a lot of the blame for their invasion of Ukraine and the resultant impact on certain products (wheat, sunflower oil, potash, natural gas, etc.) but a lot of the problems are due to the effects of the pandemic on the supply chain. Basic economics tells us that when supply is diminished, prices will rise. Conversely, when supply is increased, prices will drop and that should happen in a year or so,

Having said that, it is always fun to blame a current administration for economic problems, even if they are not that administration's fault. I always think that such criticism is appropriate since politicians are quick to claim the glory from good economic times, even when they are not the source of those good times. Fair is fair, eh!

[Allen]

The war in the Ukraine has undoubtedly caused inflation and supply problems throughout the world but the U.S. had a head start with needless, reckless, irresponsible gasoline production and supply changes mentioned above.

When fuel prices climb every thing else climbs as well. America was well into inflation before the Russians invaded the Ukraine.