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this is what the fed has been trying to do, more or less.
we’re left with a bunch of bad options after having such little interest rates for so long. reversion to the mean is tough.
Agreed. Something has to break to get back to “normal”.
Fed says “to get the economy back to normal (i.e. before Biden [BB]) we’ll raise interest rates hoping to get borrowing costs high enough to cool demand without forcing the country into recession…”. WHAT????? “Hoping” they say!!!!!! They really mean they THINK IT MIGHT WORK or it might not. What a bunch of imbecile jokers. Of course all those Fed yahoos have incomes that are astronomical relative to middle and lower class populace. They don’t worry about buying gasoline (oh, by the way, the price has really never gone down yet since BB and it’s rising in price again, but the Feds don’t give one iota) or buying food to put on their tables. Raising freaking interest rates hasn’t caused any reduction of grocery prices……. Feds are oblivious and idiots, of course this all is a repeat of the economy back in 1979 thru 1985.
And the Feds also say raising interest rates will “Cool demand”. Raising interest rates stifles the economy otherwise the boneheads wouldn’t be batting around the word “recession”. Same thing occurred in 1979-1985.
And Biden and company caused this entire fiasco by putting a halt to domestic oil drilling, which, unless everyone has already forgotten, gasoline prices immediately shot up to high $3/gallon. That in turn caused the price of everything to rise. Does this ring a Bell???
Good economic decision making there Joe. I’m positively certain ole Joe and family aren’t worried or concerned because he has a steady, never ending income, likely from deals made by Hunter with the soon-to-be nemesis, China. Dems always say share the wealth. I suggest open up your collective wallets and stay out of mine!!!!!!!!
I’m sure you’ve been told scores of times, Patrick, but Biden (and company) didn’t put “a halt to domestic oil drilling.” Just in case you are not of the post-shame, post-facts ilk:
• Since President Joe Biden took office, oil production has risen both on federal lands and on U.S. lands overall. Overall domestic oil production in 2021 came close to a record high.
• Biden never tried to bar all domestic drilling. He did try to pause future leasing on federal lands, but this was blocked by a court.
• No president has the authority to stop drilling on private lands. And presidents have little control over gasoline prices, which are determined by the global market.
Your rant is long and not really worth addressing, but Biden made available 22 years of tax returns in 2020. This disclosure would compare very favorably to the orange object of devotion of the MAGA’s who fought like a cornered badger to keep his hidden. But maybe the SIL will share some of his $2B in Saudi largesse.