Tractor lots are full

[airbiscuit]

Whatever it is, it's global.

 

[TimberFarm]

When businesses want more money for their products, that's inflation. When the labor force wants more money for their wages, that's inflation.
And it is always going to happen no matter what the gov't does or doesn't do. Does a new house still cost $15,000 like it did in 1960? Is the average salary $8,000 year? Is a McDonalds hamburger still 25 cents? Is gas still 18 cents a gallon? Can the gov't have an interstate highway system built across the country for $1billion?

 

[scootr]

When businesses want more money for their products, that's inflation. When the labor force wants more money for their wages, that's inflation.
And it is always going to happen no matter what the gov't does or doesn't do. Does a new house still cost $15,000 like it did in 1960? Is the average salary $8,000 year? Is a McDonalds hamburger still 25 cents? Is gas still 18 cents a gallon? Can the gov't have an interstate highway system built across the country for $1billion?

I'm not buying that. Gasoline was about 18 cents in 1931. 90 years ago! How is that relevant to today? Well, given the earning power of the people and the value of the dollar gas stayed nearly the same for the next 40 years. Our Govt caused the 1973 oil embargo with their support in foreign wars. And since then we have seen the price of gasoline used to leverage one situation or another.
In the last 2 years we have seen the price of gasoline double or triple depending upon where you buy it.

 

[TimberFarm]

The gov't didn't raise the price of gas. The oil companies did.

 

[2manyrocks]

Milestones: 1969–1976 - Office of the Historian

history.state.gov 3.0 shell

history.state.gov

 

[Hay Dude]

When businesses want more money for their products, that's inflation. When the labor force wants more money for their wages, that's inflation.

When G________ts print more money, that causes inflation, too.

And it is always going to happen no matter what the gov't does or doesn't do. Does a new house still cost $15,000 like it did in 1960? Is the average salary $8,000 year? Is a McDonalds hamburger still 25 cents? Is gas still 18 cents a gallon? Can the gov't have an interstate highway system built across the country for $1billion?

What you just illustrated is the average salaries aren’t keeping up with the inflation on the houses, gas and hamburgers (or food). That is causing the middle class to shrink. That is a big problem that must be addressed because with the costs of energy and food going up so much in the last 2 years, it forces more people to be dependent on handouts. That makes society less stable. It raises taxes on an ever shrinking group of taxpayers. Over 50% of this countrys population pays no income tax. Thats a big problem and it’s going to get worse.

 

[tradosaurus]

I had to find the definition of what is and what causes inflation:

Inflation is the rate of increase in prices over a given period of time. Inflation is typically a broad measure, such as the overall increase in prices or the increase in the cost of living in a country.

What causes inflation?

More jobs and higher wages increase household incomes and lead to a rise in consumer spending, further increasing aggregate demand and the scope for firms to increase the prices of their goods and services. When this happens across a large number of businesses and sectors, this leads to an increase in inflation.

 

[scootr]

The gov't didn't raise the price of gas. The oil companies did.

I'm not saying govt. raised the price. But take a look at the big picture...
The govt has done things that have caused the price of gasoline to rise. Limiting production of domestic oil has caused us to import more foreign oil at a higher cost. Limiting refineries and drilling has caused the price of oil to rise. Fueling inflation with $5T in spending has caused the price of everything to rise. That's just economics 101.
The only thing Govt has done to lower the price of Gas was to release national reserves - resulting in a temporary lowering of the price just before the midterm elections... which had no lasting effect except to deplete the national reserve.
I'm not saying the oil companies are blameless either. They have record profits in the midst of our collective suffering at the pumps.

 

[scootr]

I think we can all agree we are in a significantly inflationary period beginning just 2-3 years ago. The figures we see reported are incorrectly low because they do not include items like gasoline and food because they are deemed to be too volatile. These items effect everybody the most. Gas has doubled and food is nearly double.
Inflation is like a run away train. Unfortunately it goes until we all stop fueling the engine. When consumers stop buying prices turn back down.

 

[jyoutz]

I'm not saying govt. raised the price. But take a look at the big picture...
The govt has done things that have caused the price of gasoline to rise. Limiting production of domestic oil has caused us to import more foreign oil at a higher cost. Limiting refineries and drilling has caused the price of oil to rise. Fueling inflation with $5T in spending has caused the price of everything to rise. That's just economics 101.
The only thing Govt has done to lower the price of Gas was to release national reserves - resulting in a temporary lowering of the price just before the midterm elections... which had no lasting effect except to deplete the national reserve.
I'm not saying the oil companies are blameless either. They have record profits in the midst of our collective suffering at the pumps.

If government was limiting domestic drilling, why has production remained near record levels? Crude oil and natural gas production hasn’t fallen off. US production has remained on a high plateau. The US also exports a good portion of production to take advantage of high worldwide prices. These products sell for higher prices on the world market than they do domestically. That has some effect on prices. Congress authorized the export of fuel around 2015, causing worldwide supply to have a greater effect on U.S. prices.