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Terms of Use have been amended effective October 6, 2019. Make sure you are aware of the new rules! Please visit this thread for details: https://www.mibuzzboard.com/phpBB3/view ... 16&t=48619
So, how did those stimulus checks work out for you?
So, how did those stimulus checks work out for you?
Let's do some math here:
First stimulus check:
March 27, 2020
$1200 per person ($2400 for a married couple)
Second stimulus check:
Dec 27, 2020
$600/$1200
Third stimulus check:
March 31, 2021
$1400/$2800
============================
So let's take a married couple that makes $60,000 per year.
Current inflation (as of Dec 2021) stands at 7.0%.
That $60,000 from a year ago now has the equivalent buying power, after inflation, of $56,604, or a net loss of about $3400. That is just over half of the $6400 total stimulus that you got, and if inflation holds at this rate, the other $3000 will be gone by the end of the year. So stimulus money gone, and higher prices here to stay.
So, how did you spend YOUR stimulus loan?
First stimulus check:
March 27, 2020
$1200 per person ($2400 for a married couple)
Second stimulus check:
Dec 27, 2020
$600/$1200
Third stimulus check:
March 31, 2021
$1400/$2800
============================
So let's take a married couple that makes $60,000 per year.
Current inflation (as of Dec 2021) stands at 7.0%.
That $60,000 from a year ago now has the equivalent buying power, after inflation, of $56,604, or a net loss of about $3400. That is just over half of the $6400 total stimulus that you got, and if inflation holds at this rate, the other $3000 will be gone by the end of the year. So stimulus money gone, and higher prices here to stay.
So, how did you spend YOUR stimulus loan?
Re: So, how did those stimulus checks work out for you?
All mine went into savings where it sits today.
Re: So, how did those stimulus checks work out for you?
This thread is dumb because OP makes dumb assumptions.
- teetoppz28
- Posts: 819
- Joined: Thu Jun 13, 2019 5:01 pm
Re: So, how did those stimulus checks work out for you?
Did you expect anything else from bmw?? lol!
Dropping knowledge on forum MAGAts.
Unapologetically intellectually superior.
Unapologetically intellectually superior.
Re: So, how did those stimulus checks work out for you?
Post 3 and you're attacking a long time poster?
Voting for Trump is dumber than playing Russian Roulette with fully loaded chambers.
Re: So, how did those stimulus checks work out for you?
Long time listener first time caller no doubt…
Re: So, how did those stimulus checks work out for you?
So other than zzand, I'll make one more assumption - that nobody here is all that thrilled with their stimulus. Has it been fun paying it all back through the higher prices that it helped create?
Re: So, how did those stimulus checks work out for you?
I haven’t noticed tremendously higher prices really… plus I’m making 33% more than I was pre-stimulus and the stimulus helped pay down debt that was harmful. It was a win.
Re: So, how did those stimulus checks work out for you?
You would be making 45% more under a Republican administration though.
Voting for Trump is dumber than playing Russian Roulette with fully loaded chambers.
Re: So, how did those stimulus checks work out for you?
You are using stats that aren't appropriate to support your position. You should probably grab some panel data and run a regression. Try to find research linking the stimulus to inflation. Frankly, you don't seem to know what you're talking about. I could be wrong, though!
- MotorCityRadioFreak
- Posts: 6555
- Joined: Wed Jul 29, 2020 6:26 am
- Location: Warren, MI
Re: So, how did those stimulus checks work out for you?
Inflation was increasing ever since Trump made that bad trade deal with China. The market tanked in 2020 due to Dump's horrible ideas to drink bleach and other idiotic ideas.
They/them, non-binary and proud.
Remember that “2000 Mules” was concocted by a circus of elephants.
The right needs to stop worry about what’s between people’s legs. Instead, they should focus on what’s between their ears.
Audacity sucks.
Remember that “2000 Mules” was concocted by a circus of elephants.
The right needs to stop worry about what’s between people’s legs. Instead, they should focus on what’s between their ears.
Audacity sucks.
- MWmetalhead
- Site Admin
- Posts: 12324
- Joined: Sun Oct 31, 2004 11:23 am
Re: So, how did those stimulus checks work out for you?
The high inflation we are experiencing is largely (but not entirely) due to the U.S. economy's high reliance on imports, an increased demand for durable goods (part of which is explained by stimulus monies), and difficulty in bringing those goods to market.
https://www.bloomberg.com/news/articles ... ed-outlier
https://www.nytimes.com/2021/10/22/busi ... chain.html
COVID restrictions, a shift in consumer and commercial purchasing patterns, and plant shutdowns due to worker illness are where the trouble began. The NY Times article does a very good job explaining the pattern of issues.
I agree that in the U.S., stimulus monies were excessively sized and misallocated, but that is only one piece of the broader puzzle. We certainly cannot blame stimulus for skyrocketing energy prices, for example. I've previously explained what was responsible for that (and now tensions in Russia are only exacerbating that situation).
Do I think over-stimulus was part of the problem? Certainly I do. People bought big ticket items (home renovations, for instance) that they might've otherwise been unable to afford. Some of those purchases were bankrolled by stimulus dollars; others were bankrolled by savings from not taking expensive vacations. Unskilled workers in some instances decided to stay home or look for better paying jobs elsewhere since they now had a monetary buffer. This has hampered productivity and caused wage growth, which in turn is causing prices to increase.
https://www.bloomberg.com/news/articles ... ed-outlier
https://www.nytimes.com/2021/10/22/busi ... chain.html
COVID restrictions, a shift in consumer and commercial purchasing patterns, and plant shutdowns due to worker illness are where the trouble began. The NY Times article does a very good job explaining the pattern of issues.
I agree that in the U.S., stimulus monies were excessively sized and misallocated, but that is only one piece of the broader puzzle. We certainly cannot blame stimulus for skyrocketing energy prices, for example. I've previously explained what was responsible for that (and now tensions in Russia are only exacerbating that situation).
Do I think over-stimulus was part of the problem? Certainly I do. People bought big ticket items (home renovations, for instance) that they might've otherwise been unable to afford. Some of those purchases were bankrolled by stimulus dollars; others were bankrolled by savings from not taking expensive vacations. Unskilled workers in some instances decided to stay home or look for better paying jobs elsewhere since they now had a monetary buffer. This has hampered productivity and caused wage growth, which in turn is causing prices to increase.
Morgan Wallen is a piece of garbage.
Re: So, how did those stimulus checks work out for you?
Under a Republican administration pay increases were 3% to reflect the cost of living. Now they reflect employee retention. I’ll take the 33%.Matt wrote: ↑Fri Jan 28, 2022 9:33 pmYou would be making 45% more under a Republican administration though.
Re: So, how did those stimulus checks work out for you?
So the million dollar question is, how do we get off our addiction to imports?MWmetalhead wrote: ↑Sat Jan 29, 2022 8:34 amThe high inflation we are experiencing is largely (but not entirely) due to the U.S. economy's high reliance on imports...
- MWmetalhead
- Site Admin
- Posts: 12324
- Joined: Sun Oct 31, 2004 11:23 am
Re: So, how did those stimulus checks work out for you?
It would be uneconomical to produce everything we import domestically. The key is to ensure sufficient production capacity exists domestically to support goods critical for our economic survival and our national security.
Chip makers have begun construction of new plants both here in the U.S. and in eastern Asia, but those facilities probably won't be ready for production until 2024.
Your question is a great one and I have no good answer.
Components of a possible solution:
- Restrict access to domestic markets unless a certain percentage of product is manufactured here in the U.S.
- Create a national emergency stockpile of essential goods
- Dump the current federal corporate income tax in favor of a border adjustment tax
- Remove as much red tape as practicable to allow for re-use of dormant or abandoned manufacturing sites.
Chip makers have begun construction of new plants both here in the U.S. and in eastern Asia, but those facilities probably won't be ready for production until 2024.
Your question is a great one and I have no good answer.
Components of a possible solution:
- Restrict access to domestic markets unless a certain percentage of product is manufactured here in the U.S.
- Create a national emergency stockpile of essential goods
- Dump the current federal corporate income tax in favor of a border adjustment tax
- Remove as much red tape as practicable to allow for re-use of dormant or abandoned manufacturing sites.
Morgan Wallen is a piece of garbage.