POLITICS Inflation /General Finance Insanity

Even though it won't go through that doesn't mean we shouldn't talk about it. We should blast any bat shit crazy legislation proposed by either party, even if it stands no chance of passing, and especially when it's a blatant f**k you to the vast majority of Americans.

 

Not this session, but the ball is being advanced and the idea of abolishing the IRS is being normalized.

 

Nope.

 

It was only talked about though to deflect on a current problem. But I do agree we need to call out shitty legislation when its proposed.

 

It won't get anywhere if we are going to tax home purchases at 30%. That is DOA.

 

That is crazy. I plan to talk to a certain senator about this as I believe he is in favor of it. Love to see what he has to say.

 

Same problem with vehicles, which will have trickle down effects on air quality/health long term.

 

Definitely a problem with vehicles with how inflated those prices have become. Exemptions would have to be made for major purchases and possibly a lower tax on non prepared food items. No matter what it doesn't look like it could work if we are going with a number like 30%.

 

I'd be willing to bet in time we'll learn that there was rampant price gouging going on and the price spikes cannot be fully (or perhaps even close to fully) attributed to the bird flu.

 

Certainly on the back end. What is going to bring prices down quickly? Nothing. No such mechanism. Same as gas spikes.

 

I don’t know about quickly, but an investigation by the FTC wouldn’t hurt.

 

A full blow recession like 2008 would probably bring some prices down.

 

Good point, and that is where this all may be headed. People are getting ringed like towels. At some point, they're going to be dry.

 

I know there's nothing as fundamentally big like the sub prime mortgage problem to cause one, but with each passing day it's harder for me to see how the economy doesn't break. The average American family is drowning right now.

 

Another one is imagine the cost of building materials jumping up 30%. I just don't see how you can flip a switch like this and not see that there would be shock waves that many people and businesses could not survive.

 

The fed's rate hikes will do it. Not that I am saying their actions are out of line, because this is the best tool they have to fight inflation.

 

High interest rates and homes that are over priced, everything should be fine...

 

I really don't understand how people are paying what they are for homes at current rates. I have to believe many buyers, if not the majority in the past year would be kind of screwed if rates don't come down and they can refinance.

Feel sorry for the ones that said we'll just tighten down on the grocery budget until we can refinance.

 

Rates aren't coming down any time soon, imo. We just went through a period of historically low rates. That wasn't the normal, this is. This is still low. Anyone hoping for lower rates is probably in danger.

 

history of rates: https://www.google.com/url?sa=i&url...ved=0CA8QjRxqFwoTCMDD3siJ4fwCFQAAAAAdAAAAABAE