Liberal Forum

What caused inflation in the 1970s?
The dramatic acceleration of inflation between 1972 and 1974 can be traced mainly to three "shocks": rising food prices, rising energy prices, and the end of the Nixon wage-price controls program. Each of these can be conceptualized as requiring rapid adjustments of some relative prices.
https://www.nber.org › chapters
The Anatomy of Double-Digit Inflation in the 1970s

I'd like to pin this.

 
 

NEW BIDEN MuriQUUEER

Bidencrimefamily » 18 Aug 2024, 10:25 am » wrote: ↑

18 Aug 2024, 10:25 am

What caused inflation in the 1970s?
The dramatic acceleration of inflation between 1972 and 1974 can be traced mainly to three "shocks": rising food prices, rising energy prices, and the end of the Nixon wage-price controls program. Each of these can be conceptualized as requiring rapid adjustments of some relative prices.
[img]data:image/png;base64,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[/img]
https://www.nber.org › chapters The Anatomy of Double-Digit Inflation in the 1970s

The biggest factor was Nixon tearing up the Breton-Woods agreement, which destroyed the gold standard and sent currencies skyrocketing across the globe! That and the Oil shock.      
 

What caused inflation in the 1970s?
The dramatic acceleration of inflation between 1972 and 1974 can be traced mainly to three "shocks": rising food prices, rising energy prices, and the end of the Nixon wage-price controls program. Each of these can be conceptualized as requiring rapid adjustments of some relative prices.
https://www.nber.org › chapters
The Anatomy of Double-Digit Inflation in the 1970s

I'd like to pin this.

 
 

The results


of


BIDEN-FLATION

Bidencrimefamily » 18 Aug 2024, 10:23 am » wrote: ↑

18 Aug 2024, 10:23 am

What caused inflation in the 1970s?
The dramatic acceleration of inflation between 1972 and 1974 can be traced mainly to three "shocks": rising food prices, rising energy prices, and the end of the Nixon wage-price controls program. Each of these can be conceptualized as requiring rapid adjustments of some relative prices.
https://www.nber.org › chapters
The Anatomy of Double-Digit Inflation in the 1970s

Yep

 
 

Can't pin this.
 
 

Bidencrimefamily » 18 Aug 2024, 10:25 am » wrote: ↑

18 Aug 2024, 10:25 am

What caused inflation in the 1970s?
The dramatic acceleration of inflation between 1972 and 1974 can be traced mainly to three "shocks": rising food prices, rising energy prices, and the end of the Nixon wage-price controls program. Each of these can be conceptualized as requiring rapid adjustments of some relative prices.
[img]data:image/png;base64,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[/img]
https://www.nber.org › chapters The Anatomy of Double-Digit Inflation in the 1970s

Why can't you get it through your thick liberal head that IT DIDN'T WORK BEFORE, AND IT WON'T WORK NOW?
It's the same argument when pointing out that you learned NOTHING when Cuban socialism failed, NOTHING when Russian communism failed, Nothing when Venezuelan Marxism failed, and nothing from the hundreds of millions who were put to death in those and other countries who attempted to force their socialism on their countries?

You seriously need to study economic history if it is your desire is to make an intelligent argument on the subject.

 

Bidencrimefamily » 18 Aug 2024, 10:22 am » wrote: ↑

18 Aug 2024, 10:22 am

You are one of the biggest Trump fans ever.

As a Toady Sheilagh has no peer.

Zeets2 » 18 Aug 2024, 11:21 am » wrote: ↑

18 Aug 2024, 11:21 am

Why can't you get it through your thick liberal head that IT DIDN'T WORK BEFORE, AND IT WON'T WORK NOW?
It's the same argument when pointing out that you learned NOTHING when Cuban socialism failed, NOTHING when Russian communism failed, Nothing when Venezuelan Marxism failed, and nothing from the hundreds of millions who were put to death in those and other countries who attempted to force their socialism on their countries?

You seriously need to study economic history if it is your desire is to make an intelligent argument on the subject.

Zeet,

Can you recall an intelligent argument you've made?
 

Bidencrimefamily » 18 Aug 2024, 10:33 am » wrote: ↑

18 Aug 2024, 10:33 am

Yeah inflation hit before Biden pass any bills.

****!

The seeds of inflation were set on day one of Biden's administration when he fulfilled his campaign promises to kill the fossil fuel industry, throw open the border to all comers, and was made far worse with his idiotic Inflation Reduction Act, which did nothing but print and spend even more billions that made inflation worse!

So don't try passing off your lies that inflation was rising before Biden did anything!
LOOK AT THE CHART, NITWIT!!!  Inflation began rising IMMEDIATELY!!!

Blackvegetable » 18 Aug 2024, 11:24 am » wrote: ↑

18 Aug 2024, 11:24 am

Zeet,

Can you recall an intelligent argument you've made?

Post one where I haven't, dimwit!

When a village idiot like you disagrees with anything I post, that's proof enough of the intelligence of my argument!
 

Zeets2 » 18 Aug 2024, 11:32 am » wrote: ↑

18 Aug 2024, 11:32 am

Post one where I haven't, dimwit!

When a village idiot like you disagrees with anything I post, that's proof enough of the intelligence of my argument!

Remember when you claimed to have started the Great Recession to punish America for electing the best POTUS of your lifetime?
 

Zeets2 » 18 Aug 2024, 11:30 am » wrote: ↑

18 Aug 2024, 11:30 am

****!

The seeds of inflation were set on day one of Biden's administration when he fulfilled his campaign promises to kill the fossil fuel industry, throw open the border to all comers, and was made far worse with his idiotic Inflation Reduction Act, which did nothing but print and spend even more billions that made inflation worse!

So don't try passing off your lies that inflation was rising before Biden did anything!
LOOK AT THE CHART, NITWIT!!!  Inflation began rising IMMEDIATELY!!!

The seeds of inflation were set on day one of Biden's administration when he fulfilled his campaign promises to kill the fossil fuel industry, throw open the border to all comers, and was made far worse with his idiotic Inflation Reduction Act, which did nothing but print and spend even more billions that made inflation worse

****.

Bidencrimefamily » 18 Aug 2024, 10:26 am » wrote: ↑

18 Aug 2024, 10:26 am

She had one yesterday. 

You didNt see it on fox news?

Harris had a press conference..

What channel?
When?
 

Bidencrimefamily » 18 Aug 2024, 10:14 am » wrote: ↑

18 Aug 2024, 10:14 am

Nixon issued Executive Order 11615 (pursuant to the Economic Stabilization Act of 1970), imposing a 90-day freeze on wages and prices in order to counter inflation. This was the first time the U.S. government had enacted wage and price controls since World War II.
https://en.wikipedia.org › wiki › N...
Nixon shock - Wikipedia

Volcker was instrumental in collapsing Bretton Woods, wage and price freezes, and subsequent high interest rates.

The wage and price freeze was verification that Breton Woods had collapsed,  and it was a warning shot, putting the public on notice that,  if they hadn’t heard, their paper money could not be converted. 

Volcker stayed on through Carter and Reagan, orchestrating high interest policy, while the citizens adjusted to the new normal of bi-partisan thievery from the public treasury.

Only one president since Nixon has floated the idea of returning to gold. 
 
 

Blackvegetable » 18 Aug 2024, 12:32 pm » wrote: ↑

18 Aug 2024, 12:32 pm

Remember when you claimed to have started the Great Recession to punish America for electing the best POTUS of your lifetime?

I never stated I caused the great recession myself, did I you liar?
I laid out exactly what I did in MY business, and what I knew how other business owners were doing the same thing, and it was proven true when the worst job losses in the country occurred IMMEDIATELY AFTER OBAMA WAS ELECTED!
  
And it wasn't my intention to "punish" anyone, but my actions were done to prevent me from realizing the same fate as the millions of other business owners that went bankrupt thanks to Obama's Great Recession!  However I DID INDEED tell my employees that is was SOLELY THE FAULT OF OBAMA that forced me to drop their health insurance coverage, which they had been quite happy with, and there was no question whatsoever that there was nobody to blame but him and the people who voted for him, no doubt some of my own employees who did in fact get punished for voting for him.  OBAMA ALONE was the cause of my employee healthcare coverage not qualifying as a business deduction any longer, simply because it didn't provide cover for abortions, something not a single employee of my company (mostly male) could ever need anyway!  How many similar stories did you read about as soon as Obamacare was passed, and how many millions were similarly thrown off the insurance coverage they were happy with, stupidly believing Obama's lies that "if you like your coverage, you can keep it"?

And to prove my claim, I challenged you to find EVEN ONE SINGLE EXAMPLE of a politician or a news pundit or journalist who had EVER referred to the recession as "great" BEFORE Obama was elected!

Do you care to try searching for that again, or are you now ready to admit that the idiot scumbag YOU elected CAUSED the recession TO BECOME "GREAT", based solely on the liberal socialist policies he promised in his campaign and how he enacted them once seated in office.

AND IGNORANT LIBS LIKE YOU CAN'T STAND THOSEFACTS!!!
 

Blackvegetable » 18 Aug 2024, 12:33 pm » wrote: ↑

18 Aug 2024, 12:33 pm

****.

Exactly WHAT is "****", you asshole?
Are you going to try to deny that Trump's 1.4% inflation rate DIDN'T IMMEDIATELY SKYROCKET after Biden took office?
I'd LOVE to see an ignoramus like you try to deny that fact!
 

Zeets2 » 18 Aug 2024, 1:19 pm » wrote: ↑

18 Aug 2024, 1:19 pm

Exactly WHAT is "****", you asshole?
Are you going to try to deny that Trump's 1.4% inflation rate DIDN'T IMMEDIATELY SKYROCKET after Biden took office?
I'd LOVE to see an ignoramus like you try to deny that fact!

Grifty's COVID induced inflation rate?


 

Zeets2 » 18 Aug 2024, 1:17 pm » wrote: ↑

18 Aug 2024, 1:17 pm

I never stated I caused the great recession myself, did I you liar?
I laid out exactly what I did in MY business, and what I knew how other business owners were doing the same thing, and it was proven true when the worst job losses in the country occurred IMMEDIATELY AFTER OBAMA WAS ELECTED!
  
And it wasn't my intention to "punish" anyone, but my actions were done to prevent me from realizing the same fate as the millions of other business owners that went bankrupt thanks to Obama's Great Recession!  However I DID INDEED tell my employees that is was SOLELY THE FAULT OF OBAMA that forced me to drop their health insurance coverage, which they had been quite happy with, and there was no question whatsoever that there was nobody to blame but him and the people who voted for him, no doubt some of my own employees who did in fact get punished for voting for him.  OBAMA ALONE was the cause of my employee healthcare coverage not qualifying as a business deduction any longer, simply because it didn't provide cover for abortions, something not a single employee of my company (mostly male) could ever need anyway!  How many similar stories did you read about as soon as Obamacare was passed, and how many millions were similarly thrown off the insurance coverage they were happy with, stupidly believing Obama's lies that "if you like your coverage, you can keep it"?

And to prove my claim, I challenged you to find EVEN ONE SINGLE EXAMPLE of a politician or a news pundit or journalist who had EVER referred to the recession as "great" BEFORE Obama was elected!

Do you care to try searching for that again, or are you now ready to admit that the idiot scumbag YOU elected CAUSED the recession TO BECOME "GREAT", based solely on the liberal socialist policies he promised in his campaign and how he enacted them once seated in office.

AND IGNORANT LIBS LIKE YOU CAN'T STAND THOSEFACTS!!!

You're an idiot.