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Offline Kamaji

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Top economist says most US inflation ‘could have been avoided’
« on: June 13, 2022, 01:22:40 pm »
Top economist says most US inflation ‘could have been avoided’

By Stephen Sorace, Fox Business
June 12, 2022

Most of the current record high inflation could have been avoided had the Federal Reserve acted earlier and shown humility after it wrongly described inflation as “transitory,” economist Mohamed El-Erian said Sunday.

El-Erian, chief economic advisor at Allianz, appeared on CBS’s “Face the Nation” to discuss what caused the current inflation and where it was likely to be heading.

“We got here because we got a combination of things happening,” El-Erian said, citing the war in Ukraine, the energy transition, and how the Fed incorrectly judged inflation and fell behind.

“All these things came together and are feeding now this everything inflation. The price of nearly everything is going up and making us feel really insecure,” he said.

El-Erian said that most of the inflation “could have been avoided if early action had been taken” by the Fed, which must now regain credibility to ease long-term inflation expectations.

*  *  *

Source:  https://nypost.com/2022/06/12/top-economist-mohamed-el-erian-says-most-inflation-could-have-been-avoided-if-federal-reserve-acted-earlier/
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Offline LMAO

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Re: Top economist says most US inflation ‘could have been avoided’
« Reply #1 on: June 13, 2022, 02:11:41 pm »
And throw in the hostility to energy and energy development and exploration

If Joe Biden has any chance of saving his presidency by 2024, he needs to start by firing Jennifer Granholm.
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Offline DefiantMassRINO

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Re: Top economist says most US inflation ‘could have been avoided’
« Reply #2 on: June 13, 2022, 02:18:39 pm »
The current Federal regime is anti-capitalist.  They will not allow the dreaded private sector to use capitalist means to solve problems.

Got supply-side economics?
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Offline cato potatoe

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Re: Top economist says most US inflation ‘could have been avoided’
« Reply #3 on: June 13, 2022, 03:29:04 pm »
He's right about the fed, but much of this goes back to March of 2020.  Rather than telling people to behave as normally as possible, governments papered over lost productivity with debt.  If they ever want to return to low inflation, it's going to require interest rates the Fed is unwilling to set, and a recession the politicians are unwilling to justify.
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Offline Kamaji

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Re: Top economist says most US inflation ‘could have been avoided’
« Reply #4 on: June 13, 2022, 03:30:26 pm »
Quote from: cato potatoe on June 13, 2022, 03:29:04 pm
He's right about the fed, but much of this goes back to March of 2020.  Rather than telling people to behave as normally as possible, governments papered over lost productivity with debt.  If they ever want to return to low inflation, it's going to require interest rates the Fed is unwilling to set, and a recession the politicians are unwilling to justify.

Basically.
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Offline LMAO

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Re: Top economist says most US inflation ‘could have been avoided’
« Reply #5 on: June 13, 2022, 04:05:09 pm »
Quote from: cato potatoe on June 13, 2022, 03:29:04 pm
He's right about the fed, but much of this goes back to March of 2020.  Rather than telling people to behave as normally as possible, governments papered over lost productivity with debt.  If they ever want to return to low inflation, it's going to require interest rates the Fed is unwilling to set, and a recession the politicians are unwilling to justify.

Yep

Both Trump and Biden deserve the blame for the inflation we are experiencing. The difference between Trump and Biden is Biden is hostile to American energy development
« Last Edit: June 13, 2022, 04:52:42 pm by LMAO »
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Offline Bigun

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Re: Top economist says most US inflation ‘could have been avoided’
« Reply #6 on: June 13, 2022, 04:14:01 pm »
If you're going to dance, there is no avoiding paying the piper!  Just a law of nature.
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Offline roamer_1

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Re: Top economist says most US inflation ‘could have been avoided’
« Reply #7 on: June 13, 2022, 04:24:25 pm »
Quote from: Bigun on June 13, 2022, 04:14:01 pm
If you're going to dance, there is no avoiding paying the piper!  Just a law of nature.

YEP! The thing about bar tabs... Sooner or later you have to pay the bill.
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Offline LMAO

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Re: Top economist says most US inflation ‘could have been avoided’
« Reply #8 on: June 13, 2022, 05:03:24 pm »
I predict that inflation and the economy will be a huge issue even going into the 2024 election. And despite his shortcomings as president, Jimmy Carter did appoint Paul Volcker. Our next nominee needs to be somebody who takes a strong anti-inflationary stance.

I was a Ron Paul guy for many years.  What would America look like today if we followed the Ron Paul formula versus the Bernie Sanders formula?
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I have little interest in streamlining government or in making it more efficient, for I mean to reduce its size. I do not undertake to promote welfare, for I propose to extend freedom. My aim is not to pass laws, but to repeal them.

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Offline roamer_1

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Re: Top economist says most US inflation ‘could have been avoided’
« Reply #9 on: June 13, 2022, 05:29:33 pm »
Quote from: LMAO on June 13, 2022, 05:03:24 pm
I predict that inflation and the economy will be a huge issue even going into the 2024 election. And despite his shortcomings as president, Jimmy Carter did appoint Paul Volcker. Our next nominee needs to be somebody who takes a strong anti-inflationary stance.

I was a Ron Paul guy for many years.  What would America look like today if we followed the Ron Paul formula versus the Bernie Sanders formula?

The thing with austerity - It always seems to come too late.  :shrug:

Normalcy bias.
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Online catfish1957

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Re: Top economist says most US inflation ‘could have been avoided’
« Reply #10 on: June 13, 2022, 05:36:01 pm »
Quote from: roamer_1 on June 13, 2022, 05:29:33 pm
The thing with austerity - It always seems to come too late.  :shrug:

Normalcy bias.

Economic sanity (normalcy) died with Calvin Coolidge. We've been on a 100 year bender that everyone knows is not going to end well.
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Offline LMAO

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Re: Top economist says most US inflation ‘could have been avoided’
« Reply #11 on: June 13, 2022, 05:40:06 pm »
Quote from: catfish1957 on June 13, 2022, 05:36:01 pm
Economic sanity (normalcy) died with Calvin Coolidge. We've been on a 100 year bender that everyone knows is not going to end well.

Right

We’ve been given an alcoholic whiskey in the hope that we can stave off DTs
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I have little interest in streamlining government or in making it more efficient, for I mean to reduce its size. I do not undertake to promote welfare, for I propose to extend freedom. My aim is not to pass laws, but to repeal them.

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My Avatar is my adult autistic son Tommy

Online Smokin Joe

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Re: Top economist says most US inflation ‘could have been avoided’
« Reply #12 on: June 13, 2022, 05:42:55 pm »
Quote from: LMAO on June 13, 2022, 05:40:06 pm
Right

We’ve been given an alcoholic whiskey in the hope that we can stave off DTs
It would have been one thing if we were weaning the alcoholic, but instead, it's been an open bar.
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Offline Bigun

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Re: Top economist says most US inflation ‘could have been avoided’
« Reply #13 on: June 13, 2022, 05:50:24 pm »
Quote from: Smokin Joe on June 13, 2022, 05:42:55 pm
It would have been one thing if we were weaning the alcoholic, but instead, it's been an open bar.

 :yowsa: And the bar is STILL open even now!
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"I wish it need not have happened in my time," said Frodo.

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- J. R. R. Tolkien
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