Democrats' Latest Phony Inflation Scapegoat: Credit Cards

Townhall.com ^ | May 24, 2022 | Stephen Moore

[Zathras]

The biggest cause of inflation is jump in oil and natural gas prices.
It effects anything involved in transportation, fertilizer production, energy production and the basic costs of running a company.
These costs are then passed onto consumers...thus you get inflation.
These are things you can’t discontinue consumption without causing a global collapse.

[CurlyDave]

...Use of credit works the same way - people buy on credit, expecting to pay it off with cheaper money...

They are going to have to pry my 2.5% mortgage from my cold dead hands...

[ridesthemiles]

SALES TAXES on my purchases FAR EXCEED the CC fees.

[MrRelevant]

To be fair, spending...even debt spending does have an impact on supply and demand. This in turn has an impact on price point. If people still buy , despite not having the means , its still registers as demand. Combined with supply chain issue its a legit problem. However the cards themselves are not the villains...the people who spend beyond their mean are.

[cgbg]

The irony is that credit cards actually stabilize the economy since people spend money they don’t have during bad times.

They can also add to inflation during such periods if folks are unable to pay their debt and keep increasing it.

[adorno]

The biggest cause of inflation is jump in oil and natural gas prices.

You're saying he same thing I said, here:

https://freerepublic.com/focus/news/4062768/posts?page=9#9

Oil is the life-blood of the economy.

Without it, the economy dies, and the country dies a slow death.

Take oil away, and we don’t have an economy. Slow down oil, and the country gets sick. Put blocks into the blood-stream of the economy, and you get a very sick economy, and parts of the economy die and never come back.

Nothing that we know of can replace oil, not at the moment and not for a long time. Even clean-energy/green-energy, needs oil and other fossil fuels. EVs don’t run on renewable energy; EVs run on electricity generated by fossil-fuels.

Climate-change/global-warming policy, will kill the economy. We might as well be living in the middle-ages without fossil fuels.

[Libloather]

[VanShuyten]

“ Few retailers don’t take plastic every day to avoid paying the fees.”

Quite a few of the retail stores and eateries owned by “immigrants” here in northern Virginia only take cash, and I don’t think it’s to avoid the card fees.

[newbie 10-21-00]

Okay, you confused anyone under 40 or 45. What’s your point? And why on earth do you have a pic of a credit card imprinter?

[Libloather]

Gonna need one of those once the power gets cut off - no?