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The US dollar is on track for its worst year in modern history

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124 points harambae | 2 comments | 04 Jul 25 06:47 UTC | HN request time: 0.472s | source
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rokkamokka ◴[04 Jul 25 07:19 UTC] No.44461980[source]▶
Strike dollar from the title and it'll still be true...
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0xy ◴[04 Jul 25 08:07 UTC] No.44462305[source]▶
The inflation of 2021-24 was a biblical disaster for the working class, and it's nowhere near as bad now. I'd say that makes 2025 a marked improvement from the economic disaster of the last 4 years, and which was backed up in every political poll (economy was issue 1).
replies(1): >>44465378 #
mindslight ◴[04 Jul 25 15:29 UTC] No.44465378[source]▶
The monetary inflation dump in Trump's previous term was early 2020, which then took time to work through asset prices and into consumer prices. So yes the next few years are going to be worse, as the effects of the terrible policies really set in. And unlike last time, we won't have leadership at the helm who might even try pulling up until 2027. And that's assuming enough Americans get their heads on straight to vote out the congress currently rubber stamping this wanton destruction.
replies(1): >>44473652 #
jaybrendansmith ◴[05 Jul 25 16:04 UTC] No.44473652[source]▶
Yup. And again we conveniently ignore that the prior inflation was a textbook supply shock caused by COVID, and that the US response to it was quite better than the rest of the world. The difference here is the current and pending inflation will be caused by tariffs, and be a compete self-own by the current clown show.
replies(1): >>44473924 #
mindslight ◴[05 Jul 25 16:48 UTC] No.44473924[source]▶
Supply shock exacerbated by trillions of dollars in helicopter money across all levels of society. A good chunk of that was a self-own too, except for voters with the attention span of a gnat and no ability to grok economics ended up blaming the next administration.
replies(1): >>44481182 #
1. jaybrendansmith ◴[06 Jul 25 14:40 UTC] No.44481182[source]▶
Not accurate. US handled the supply shock inflation quite a bit better than everybody else. The trillions was enough to keep the economy afloat, and did not contribute to the inflation. There are charts you can look up. As far as the 'self own' ... I don't think most realize how powerful the propaganda arm is at this point. It is truly a firehose of bullshit and lies.
replies(1): >>44483039 #
2. mindslight ◴[06 Jul 25 18:44 UTC] No.44483039[source]▶
I mean, one instance of helicopter money was people getting PPP "loans" that would then have counted as taxable income, had they not gone and bought a fancy new truck/trailer with sec 179 accelerated depreciation, and supply shock making that a sellers market. Another instance was propping up the stock market because The Line must never go down, which then made a whole lot of people feel rich to spend on home improvement/expansions rather than hunkering down with what they had.

These are anecdotes, but I don't see how all of that new money would not have contribute to price inflation, but with a delay because the immediate velocity of money was low. If you want to point me to some of the graphs you're thinking I'll certainly give them a look with an open mind, but denying that fundamental dynamic feels close to the opposing propaganda that's always maintaining that monetary inflation has no bearing on price inflation.