You seem to be ignoring the actual increase in income inequality that resulted from the Bush tax cuts and economic collapse by trying to use an argument involving inflation, which is at historic lows. Color me unsurprised at your biased partisanship. You are, however, correct that Obama can't work with Congress. It is literally impossible for a President to work with a Congress that absolutely refuses to work with him on anything, and which opposes every single position the President takes, even if that position was held by the member of Congress in question right up to the moment the President expressed support.
Inflation is at historic lows and the inflation calculation includes food and energy prices. For someone who talks about knowing how the economy works, you are woefully uninformed.
So you're saying that the lower class does NOT suffer disproportionately from recent years' increase in gasoline and food costs, since "inflation is at historic lows" (please confirm with facts)?
absolutely not joking Obama's inability to govern effectively outsources the job to the Fed, which is a much easier path than Obama navigating it politically.
If the minimum wage were abolished . .. . . could McDonalds immediately drop everyone's wages to 4$/hr or what ever? How is it better to be able to pay people next to nothing? How does this help people? Rocket River
So will you give Obama credit for causing housing prices to rally nationwide too? And you do recognize that food prices overall have not outpaced overall inflation since Obama took over, right? Yes energy prices have gone up significantly relative to inflation, but you know as well as I do that there are macro economic factors at work there. Also, they were artificially low due to economic crash that was going on when Obama took over. Further, they have come down a good bit in recent months.
They could but they would get very poor quality work and workers. Just for reference the average hourly wage of a fast food worker was about $9/hr in 2012.
I truly wish you would EVER provide facts to support the assertions you keep pulling out of your ass. http://www.tradingeconomics.com/united-states/inflation-cpi
And yes, the lower class is disproportionately affected, BECAUSE OF THE INCOME INEQUALITY CAUSED PRIMARILY BY REAGAN AND BUSH TAX CUTS!
Housing rally, or new bubble created due to low rates? The Fed's actions are a contributor to high energy prices. The other dimension here is that low US rates have stoked relative growth in emerging markets (due to currency valuation) which has further increased energy prices due to energy demand. It's multidimensional, but a core driver is Obama's inability to govern, and instead effectively outsourcing the dirty work to the Fed.
I posit that the sheep in this discussion is the one using unfounded assertions rather than facts, data, and available evidence (that makes YOU the sheep). Blame should be meted out where it is deserved, too bad you're so biased that you REFUSE to assign blame where it belongs. BAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAA
Despite your comical attempt to use capital letters, you have not refuted my points. Your failed attempt involved referencing Ronald Reagan and not providing any kind of evidence.
I did, however, provide evidence disproving your assertion that inflation has been a problem since Obama took office. Sadly, I don't have time to educate you now, but feel free to look at the income inequality numbers and how those numbers dramatically expanded after both the Bush and Reagan tax cuts. You have it in your power to educate yourself on these matters or you could provide counter evidence to disprove my assertions, but you will refuse to do so because all you have are the words your pundits spew. Have fun, sheep, I love pwning your ass like this!
I love how somehow the Fed has become the villain, and not the private asset investors that created, shattered, and are maintaining the effects of a legendary private market failure.
So you've just offered a long winded post to explain why you can't refute me? You're embarrassing yourself at this point.
