How does this add up?
Average annual expenditures per household $63,000
Average stimulus payments per household $3,500
Average increase in household expenses (7% * 63,000) = $4,410
Cost of stimulus payments per household $4,410 - $3,500 = $910.
The average household paid $4,410 dollars to receive a stimulus of $3,500 costing them an additional $910.
And you thought you received free money.
MM Replied:
Your 7% number seems wildly overstated Mark. The numbers I have seen are 0.3% for 2021 and 0.2% for 2022. That is a huge difference.
CW Replied:
You know how the CPI is computed just like I do, so you know how cooked that 7% is if one doesn’t rent.
MD Replied:
absolutely they have manipulated the number to keep social security down so you know it’s much higher than what the government states.
I Asked:
Is the first statement true? "stimulus payments cause inflation to spike to 7%" - No One Knows the CAUSE of Inflation... Some say it's Corporate Greed... Taking advantage of shipping troubles to gouge consumers... Certainly NOT Caused by Stimulus Payments...
MD Replied:
no one knows the cause of inflation? Well, that is what the Fed would like you to believe but we do know what causes inflation. When there is too much money circulating through the economy that causes inflation . The Fed prints money and gives it to the banks. When the banks loan that money, it creates more demand that increases prices on everything. In 2008 when we had the first Quantitative Easing the money went to the banks but the banks were not loaning the money so we had little inflation
This time much of the stimulus was sent directly throughout the economy that coupled with supply shortages caused the inflation we now see.
Nothing to do with corporate greed. Well I wouldn’t say nothing. Corporations will certainly take advantage.
I Replied:
Sounds Plausable... Supply Shortages are Just an Excuse to raise prices... a Large amount of Money is hidden in bank accounts of the Super Rich... making the amount of FREELY CIRCULATING Money much less than the Fed's M1 Statement... "When there is too much money circulating through the economy that causes inflation ." - It ain't Circulating Much... a lot is hidden in offshore accounts in the Cayman Islands...
Here are two 5 year charts... Price of Gasoline and "M1" - It's Interesting to compare the two... "M1" really jumped recently... gasoline also went up in the same time period...
MD Said: absolutely that chart shows it.
I Replied: There was a big jump in 2020 on "M1" and Gasoline Followed Along.
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