Real inflation up over 30% since Biden took office

WELLS FARGO says countering inflation with a rate hike, like the one implemented by the Feds yesterday, will trigger a 2023 recession.

Source: gettr.com...

How does that happen? And is a recession worse than the inflation we're now enduring?

Well at least we don't have to deal with those mean tweets now. a reply to: Grambler

posted on Jun, 13 2022 @ 07:14 AM
Two year treasury yield just rose above ten year borrowing costs. That is a yield curve inversion. Look for higher than expected interest rate hikes in the coming months. Most professionals consider this to be a warning that full blown recession is possible within the next year or two.

Sorry for quoting myself, but I nailed this one.

We just had the higher than expected interest rate hikes, 75 basis points, on top of 25 and 50 since March. We are on course for full blown recession.

originally posted by: carewemust
WELLS FARGO says countering inflation with a rate hike, like the one implemented by the Feds yesterday, will trigger a 2023 recession.

Source: gettr.com...

How does that happen? And is a recession worse than the inflation we're now enduring?

Its debatable which is actually worse. It depends on what vantage point you are looking at it from.

What is pretty much universally accepted though is that strong inflation followed immediately by strong recession is about the worst possible combination for the average working man.

In strong inflation the economy runs amok and prices surge, seriously affecting those on fixed incomes and the lower end of the earning scale. What is considered a living wage, the minimum required income to live above the poverty line, increases much faster than actual wages. People deplete their savings trying to stay afloat.

Then recession hits and the economy screeches to a halt which invariably leads to higher unemployment, often in those groups that were just forced to deplete their savings. More and more people find themselves on social programs trying to make ends meet. But the dragging economy hurts federal income too, which subsequently struggles to provide necessary aid to the hungry and homeless. Hell, this administration cant do that when the economy is booming let alone during a full blown recession. People lose their health insurance. Interest rates skyrocket making revolving debt almost impossible for the average working class person to pay off. Eventually the number of homeless increases as loans are defaulted and new buyers are priced out of the market by high interest rates. The other half of the housing market is smacked down with evaporating equity and many find themselves in upside down mortgages - where the amount owed is greater than the value of the property.

In the great depression in the 30's one in four people in this country, thats about 35 million people, lived in a family where NO ONE had a job. In todays world that would be roughly 85 million people. There is no way this administration is capable of providing basic necessities for that many needy people. Even if we stopped the influx of illegals and stopped shipping our tax dollars overseas entirely we still would not be able to provide for that many people.

You know what happens from there...