Bidenflation and Shortage thread

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Re: Bidenflation and Shortage thread

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Re: Bidenflation and Shortage thread

Post by CAA Flagship »

∞∞∞ wrote: Wed Sep 14, 2022 5:00 am Has anyone told conservatives yet that the US isn't the only country on Earth?

hint: global inflation and shortages are not because of one American...
Time for you to go sit in the corner with JSO.
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Re: Bidenflation and Shortage thread

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Re: Bidenflation and Shortage thread

Post by BDKJMU »

Food inflation highest in 43 years..
https://www.cnsnews.com/s3/files/styles ... k=uaeNRiU7
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Re: Bidenflation and Shortage thread

Post by ∞∞∞ »

CAA Flagship wrote: Wed Sep 14, 2022 6:30 am
∞∞∞ wrote: Wed Sep 14, 2022 5:00 am Has anyone told conservatives yet that the US isn't the only country on Earth?

hint: global inflation and shortages are not because of one American...
Time for you to go sit in the corner with JSO.
I was in Europe the entire summer. Pretty sure inflation was a thing there too.

We're part of a globalized economy. Immigration around the world was halted during the pandemic, people were laid off, and a deal with OPEC was made to reduce oil production. Then you've got things like climate change dealing blow after blow to crop yields, infrastructure, etc.

People also moved on from their jobs and it's been the largest global reshuffle of labor since WWII. Factories are still trying to find labor and it's had a domino effect for production everywhere. This is especially true in places where immigration is still being limited due to local politics, pandemic policies, or war.

Also, people (deservingly) want more money. They realized they can get paid more and so that's a part of it.

To simply say "Thanks Brandon" is dishonest. (btw, the whole Brandon thing is childish...just say Fuck Biden).
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Re: Bidenflation and Shortage thread

Post by kalm »

∞∞∞ wrote: Wed Sep 14, 2022 7:22 am
CAA Flagship wrote: Wed Sep 14, 2022 6:30 am

Time for you to go sit in the corner with JSO.
I was in Europe the entire summer. Pretty sure inflation was a thing there too.

We're part of a globalized economy. Immigration around the world was halted during the pandemic, people were laid off, and a deal with OPEC was made to reduce oil production. Then you've got things like climate change dealing blow after blow to crop yields, infrastructure, etc.

People also moved on from their jobs and it's been the largest global reshuffle of labor since WWII. Factories are still trying to find labor and it's had a domino effect for production everywhere. This is especially true in places where immigration is still being limited due to local politics, pandemic policies, or war.

Also, people (deservingly) want more money. They realized they can get paid more and so that's a part of it.

To simply say "Thanks Brandon" is dishonest. (btw, the whole Brandon thing is childish...just say Fuck Biden).
:nod:

China’s Covid and port city shutdowns are also a factor.
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Re: Bidenflation and Shortage thread

Post by BDKJMU »

∞∞∞ wrote: Wed Sep 14, 2022 7:22 am
CAA Flagship wrote: Wed Sep 14, 2022 6:30 am

Time for you to go sit in the corner with JSO.
I was in Europe the entire summer. Pretty sure inflation was a thing there too.

We're part of a globalized economy. Immigration around the world was halted during the pandemic, people were laid off, and a deal with OPEC was made to reduce oil production. Then you've got things like climate change dealing blow after blow to crop yields, infrastructure, etc.

People also moved on from their jobs and it's been the largest global reshuffle of labor since WWII. Factories are still trying to find labor and it's had a domino effect for production everywhere. This is especially true in places where immigration is still being limited due to local politics, pandemic policies, or war.

Also, people (deservingly) want more money. They realized they can get paid more and so that's a part of it.

To simply say "Thanks Brandon" is dishonest. (btw, the whole Brandon thing is childish...just say Fuck Biden).
And you conveniently left off the biggest factors:
-Printing trillions in fiat $$$$
-Fed keeping rates at near zero for a year plus..
-Artficially created labor shortage (by paying people not to work).
-Bidens war on fossil fuel

Inflation is 100% govt created. If there hadn’t been 7+ trillion in extra spending the last 2 1/2 years, people hadn’t been paid not to work along with 3 rounds of stimulus checks sent out, interest rates hadn’t been keep near zero for a yr+, and a war on fosail fuel, we probably wouldn’t have much inflation now.
Last edited by BDKJMU on Wed Sep 14, 2022 8:43 am, edited 1 time in total.
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Re: Bidenflation and Shortage thread

Post by GannonFan »

kalm wrote: Wed Sep 14, 2022 7:42 am
∞∞∞ wrote: Wed Sep 14, 2022 7:22 am

I was in Europe the entire summer. Pretty sure inflation was a thing there too.

We're part of a globalized economy. Immigration around the world was halted during the pandemic, people were laid off, and a deal with OPEC was made to reduce oil production. Then you've got things like climate change dealing blow after blow to crop yields, infrastructure, etc.

People also moved on from their jobs and it's been the largest global reshuffle of labor since WWII. Factories are still trying to find labor and it's had a domino effect for production everywhere. This is especially true in places where immigration is still being limited due to local politics, pandemic policies, or war.

Also, people (deservingly) want more money. They realized they can get paid more and so that's a part of it.

To simply say "Thanks Brandon" is dishonest. (btw, the whole Brandon thing is childish...just say Fuck Biden).
:nod:

China’s Covid and port city shutdowns are also a factor.
But the US economy is still the single largest economy in the world. What happens here has an oversized impact on the rest of the world. That's part of being a globalized economy as well. And that's the insidious nature of inflation and why, in past administrations and past Fed's, everything possible was done to avoid inflation rising out of control.

There's no getting around the fact that the economic policies of the current administration not only turned a blind eye towards inflation, but they also scoffed at it as if it was no longer a consideration. Under the new economic school of thought that government spending could be infinite without negative consequence since all we had to do was print more money (and hey, inflation even technically, in the short term, helps reduce the debt government owes since inflation increases the value of the dollar), we spent way more money than was necessary, even after it became clear to most that inflation was starting to pick up. This didn't happen in a vacuum, this wasn't done behind closed doors, we got to see the train-wreck happen right in front of our eyes. Increasing the money supply will always result in inflationary pressures, even if you dismiss them by calling them transient. This administration didn't care about or didn't appreciate the consequences of rampant inflation. And heck, it's not like this was just early in the current term, they literally just continued the pile-on on the money supply problem by magically eliminating at least $300B in student loans (and when you factor in the other changes to future loans this dollar figure is at least double, if not more). I get it that they didn't do it on their own, the Fed played a part here as well, but the Fed was certainly goaded on by the administration which even to this day doesn't even properly fathom how much a role they played in stoking inflation to where we are today. They just don't get it. :coffee:
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Re: Bidenflation and Shortage thread

Post by kalm »

GannonFan wrote: Wed Sep 14, 2022 8:39 am
kalm wrote: Wed Sep 14, 2022 7:42 am

:nod:

China’s Covid and port city shutdowns are also a factor.
But the US economy is still the single largest economy in the world. What happens here has an oversized impact on the rest of the world. That's part of being a globalized economy as well. And that's the insidious nature of inflation and why, in past administrations and past Fed's, everything possible was done to avoid inflation rising out of control.

There's no getting around the fact that the economic policies of the current administration not only turned a blind eye towards inflation, but they also scoffed at it as if it was no longer a consideration. Under the new economic school of thought that government spending could be infinite without negative consequence since all we had to do was print more money (and hey, inflation even technically, in the short term, helps reduce the debt government owes since inflation increases the value of the dollar), we spent way more money than was necessary, even after it became clear to most that inflation was starting to pick up. This didn't happen in a vacuum, this wasn't done behind closed doors, we got to see the train-wreck happen right in front of our eyes. Increasing the money supply will always result in inflationary pressures, even if you dismiss them by calling them transient. This administration didn't care about or didn't appreciate the consequences of rampant inflation. And heck, it's not like this was just early in the current term, they literally just continued the pile-on on the money supply problem by magically eliminating at least $300B in student loans (and when you factor in the other changes to future loans this dollar figure is at least double, if not more). I get it that they didn't do it on their own, the Fed played a part here as well, but the Fed was certainly goaded on by the administration which even to this day doesn't even properly fathom how much a role they played in stoking inflation to where we are today. They just don't get it. :coffee:
It’s not just this administration either. Heck there were similarities in the 1920 recession. Tax cuts also play a roll and much of that printed money was for top down bailouts. Here…we’ll give you tax cuts. Here… we’ll bail you out.

Welcome to neo-liberalism.
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Re: Bidenflation and Shortage thread

Post by GannonFan »

kalm wrote: Wed Sep 14, 2022 8:54 am
GannonFan wrote: Wed Sep 14, 2022 8:39 am

But the US economy is still the single largest economy in the world. What happens here has an oversized impact on the rest of the world. That's part of being a globalized economy as well. And that's the insidious nature of inflation and why, in past administrations and past Fed's, everything possible was done to avoid inflation rising out of control.

There's no getting around the fact that the economic policies of the current administration not only turned a blind eye towards inflation, but they also scoffed at it as if it was no longer a consideration. Under the new economic school of thought that government spending could be infinite without negative consequence since all we had to do was print more money (and hey, inflation even technically, in the short term, helps reduce the debt government owes since inflation increases the value of the dollar), we spent way more money than was necessary, even after it became clear to most that inflation was starting to pick up. This didn't happen in a vacuum, this wasn't done behind closed doors, we got to see the train-wreck happen right in front of our eyes. Increasing the money supply will always result in inflationary pressures, even if you dismiss them by calling them transient. This administration didn't care about or didn't appreciate the consequences of rampant inflation. And heck, it's not like this was just early in the current term, they literally just continued the pile-on on the money supply problem by magically eliminating at least $300B in student loans (and when you factor in the other changes to future loans this dollar figure is at least double, if not more). I get it that they didn't do it on their own, the Fed played a part here as well, but the Fed was certainly goaded on by the administration which even to this day doesn't even properly fathom how much a role they played in stoking inflation to where we are today. They just don't get it. :coffee:
It’s not just this administration either. Heck there were similarities in the 1920 recession. Tax cuts also play a roll and much of that printed money was for top down bailouts. Here…we’ll give you tax cuts. Here… we’ll bail you out.

Welcome to neo-liberalism.
Sure, but inflation didn't happen when we did those things. This is like when you said the tax cuts under "W" Bush were playing into the inflation now. Granted, the pandemic caused a lot of issues, but it was in the dealing with those issues coming out of it that we dropped the ball. And certainly the prior administration under Trump carries some of the blame as he was determined to spend an unneeded COVID relief during his lameduck session. But that still pales in comparison to the blowout in spending that Biden carried forward throughout the first year of his term, and like I said with even the student loan bailout debacle, continues doing even to this day. If you want to include Trump in this blame game then I won't argue it. His COVID response allowed something that should've been in control a couple of months into it (say by summer of 2020 when we knew how to go about life without all the shutdowns but still choose to stay mostly shutdown), or at least by the time the first vaccines were readily available. We kept this emergency standing in place (which I think Biden is still using btw) for far too long. I'm sure it's all kicking down the road so that we can get past the midterms, but this inflation isn't going away anytime soon and is likely with us for the next few years. This is what happens when the adults in charge blow it. And they did.
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Re: Bidenflation and Shortage thread

Post by kalm »

GannonFan wrote: Wed Sep 14, 2022 9:00 am
kalm wrote: Wed Sep 14, 2022 8:54 am

It’s not just this administration either. Heck there were similarities in the 1920 recession. Tax cuts also play a roll and much of that printed money was for top down bailouts. Here…we’ll give you tax cuts. Here… we’ll bail you out.

Welcome to neo-liberalism.
Sure, but inflation didn't happen when we did those things. This is like when you said the tax cuts under "W" Bush were playing into the inflation now. Granted, the pandemic caused a lot of issues, but it was in the dealing with those issues coming out of it that we dropped the ball. And certainly the prior administration under Trump carries some of the blame as he was determined to spend an unneeded COVID relief during his lameduck session. But that still pales in comparison to the blowout in spending that Biden carried forward throughout the first year of his term, and like I said with even the student loan bailout debacle, continues doing even to this day. If you want to include Trump in this blame game then I won't argue it. His COVID response allowed something that should've been in control a couple of months into it (say by summer of 2020 when we knew how to go about life without all the shutdowns but still choose to stay mostly shutdown), or at least by the time the first vaccines were readily available. We kept this emergency standing in place (which I think Biden is still using btw) for far too long. I'm sure it's all kicking down the road so that we can get past the midterms, but this inflation isn't going away anytime soon and is likely with us for the next few years. This is what happens when the adults in charge blow it. And they did.
Biden has also been a neo-liberal for almost all of his career. Your criticisms are fair but not unprecedented. We didn’t arrive here all because of what’s happened since 2021. Decades of low taxes, deferred infrastructure spending, and overall spending by both parties contribute. Inflation didn’t happen overnight. It takes awhile for that free money to filter down.
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Re: Bidenflation and Shortage thread

Post by GannonFan »

kalm wrote: Wed Sep 14, 2022 9:46 am
GannonFan wrote: Wed Sep 14, 2022 9:00 am

Sure, but inflation didn't happen when we did those things. This is like when you said the tax cuts under "W" Bush were playing into the inflation now. Granted, the pandemic caused a lot of issues, but it was in the dealing with those issues coming out of it that we dropped the ball. And certainly the prior administration under Trump carries some of the blame as he was determined to spend an unneeded COVID relief during his lameduck session. But that still pales in comparison to the blowout in spending that Biden carried forward throughout the first year of his term, and like I said with even the student loan bailout debacle, continues doing even to this day. If you want to include Trump in this blame game then I won't argue it. His COVID response allowed something that should've been in control a couple of months into it (say by summer of 2020 when we knew how to go about life without all the shutdowns but still choose to stay mostly shutdown), or at least by the time the first vaccines were readily available. We kept this emergency standing in place (which I think Biden is still using btw) for far too long. I'm sure it's all kicking down the road so that we can get past the midterms, but this inflation isn't going away anytime soon and is likely with us for the next few years. This is what happens when the adults in charge blow it. And they did.
Biden has also been a neo-liberal for almost all of his career. Your criticisms are fair but not unprecedented. We didn’t arrive here all because of what’s happened since 2021. Decades of low taxes, deferred infrastructure spending, and overall spending by both parties contribute. Inflation didn’t happen overnight. It takes awhile for that free money to filter down.
See, that's what you don't get, inflation can and does happen overnight. The money supply issue that has been the #1 source of this inflationary period is directly traced to the government spending, coupled with poor Fed oversight, from the past year and half. That's it. We didn't have this inflation prior to that, and without the very specific spending actions from the end of the Trump administration and even more so the current Biden administration (and not just spending, but also actions and policies that limited supply such as extended COVID jobless benefits as well as a sudden lurch to cut off fossil fuels and speed the transition to cleaner energy, even if cleaner energy isn't immediately available) then we wouldn't have this inflation. Inflation isn't magical, it's not some nebulous concept that comes out of nowhere. It's specifically too much money chasing too few goods/services, and is almost always a money supply issue. This isn't decades in the making, that's nonsense and unsupported by the facts. This is clearly in the making since about December of 2020 and still doesn't seem like the folks in charge even understand it (the Fed looks like they do, now, not so much Biden and his cohorts).

Oh, and I wouldn't classify Biden as a neo-liberal. He's basically just been a politician for his whole life (who happens to run as a Democrat). His is not really a career filled with a lot of specific milestones and policies, he's a guy who's sought office and stayed in office for a real long time - and maybe because he's not really much of a policy guy. He runs in elections and he wins elections. What he's done while he's been in Washington, for all these decades, is fairly unremarkable, other than being there at the beginning when we started to screw up how we nominate and approve SCOTUS judges. He took center stage on that one.
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Re: Bidenflation and Shortage thread

Post by AZGrizFan »

GannonFan wrote: Wed Sep 14, 2022 10:06 am
kalm wrote: Wed Sep 14, 2022 9:46 am

Biden has also been a neo-liberal for almost all of his career. Your criticisms are fair but not unprecedented. We didn’t arrive here all because of what’s happened since 2021. Decades of low taxes, deferred infrastructure spending, and overall spending by both parties contribute. Inflation didn’t happen overnight. It takes awhile for that free money to filter down.
See, that's what you don't get, inflation can and does happen overnight. The money supply issue that has been the #1 source of this inflationary period is directly traced to the government spending, coupled with poor Fed oversight, from the past year and half. That's it. We didn't have this inflation prior to that, and without the very specific spending actions from the end of the Trump administration and even more so the current Biden administration (and not just spending, but also actions and policies that limited supply such as extended COVID jobless benefits as well as a sudden lurch to cut off fossil fuels and speed the transition to cleaner energy, even if cleaner energy isn't immediately available) then we wouldn't have this inflation. Inflation isn't magical, it's not some nebulous concept that comes out of nowhere. It's specifically too much money chasing too few goods/services, and is almost always a money supply issue. This isn't decades in the making, that's nonsense and unsupported by the facts. This is clearly in the making since about December of 2020 and still doesn't seem like the folks in charge even understand it (the Fed looks like they do, now, not so much Biden and his cohorts).

Oh, and I wouldn't classify Biden as a neo-liberal. He's basically just been a politician for his whole life (who happens to run as a Democrat). His is not really a career filled with a lot of specific milestones and policies, he's a guy who's sought office and stayed in office for a real long time - and maybe because he's not really much of a policy guy. He runs in elections and he wins elections. What he's done while he's been in Washington, for all these decades, is fairly unremarkable, other than being there at the beginning when we started to screw up how we nominate and approve SCOTUS judges. He took center stage on that one.
GF, the Fed, the Biden Administration and every Donk in the senate and congress ignored every single red flashing light and warning sign, INSISTING that there was no inflation, and what little there was was just “transitory” and would magically cure itself. Then they poured gasoline on the fire by sending round after round of stimulus and government spending, the Fed waited about 8 months too long to start raising rates, and now is behind the 8 ball. They now look panicked and confused, trying to get back ahead of the curve but inflation got SO hot, SO fast, they can’t get their arms around it almost no matter what they do at this point.

Look for ANOTHER 75 bps here in about a week, then another 50, and probably another 25 after that. We will be FIRMLY entrenched in a recession that’s already happening, but they (the Fed) have publicly stated they do NOT care. They fucked up and are trying to now right the ship that has fully overturned.
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Re: Bidenflation and Shortage thread

Post by AZGrizFan »

∞∞∞ wrote: Wed Sep 14, 2022 7:22 am
CAA Flagship wrote: Wed Sep 14, 2022 6:30 am

Time for you to go sit in the corner with JSO.
I was in Europe the entire summer. Pretty sure inflation was a thing there too.

We're part of a globalized economy. Immigration around the world was halted during the pandemic, people were laid off, and a deal with OPEC was made to reduce oil production. Then you've got things like climate change dealing blow after blow to crop yields, infrastructure, etc.

People also moved on from their jobs and it's been the largest global reshuffle of labor since WWII. Factories are still trying to find labor and it's had a domino effect for production everywhere. This is especially true in places where immigration is still being limited due to local politics, pandemic policies, or war.

Also, people (deservingly) want more money. They realized they can get paid more and so that's a part of it.

To simply say "Thanks Brandon" is dishonest. (btw, the whole Brandon thing is childish...just say Fuck Biden).
Fuck Biden. :clap: :thumb:
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Re: Bidenflation and Shortage thread

Post by BDKJMU »

AZGrizFan wrote: Wed Sep 14, 2022 8:09 pm
∞∞∞ wrote: Wed Sep 14, 2022 7:22 am

I was in Europe the entire summer. Pretty sure inflation was a thing there too.

We're part of a globalized economy. Immigration around the world was halted during the pandemic, people were laid off, and a deal with OPEC was made to reduce oil production. Then you've got things like climate change dealing blow after blow to crop yields, infrastructure, etc.

People also moved on from their jobs and it's been the largest global reshuffle of labor since WWII. Factories are still trying to find labor and it's had a domino effect for production everywhere. This is especially true in places where immigration is still being limited due to local politics, pandemic policies, or war.

Also, people (deservingly) want more money. They realized they can get paid more and so that's a part of it.

To simply say "Thanks Brandon" is dishonest. (btw, the whole Brandon thing is childish...just say Fuck Biden).
Fuck Biden. :clap: :thumb:
Its Fuck Joe Biden, or FJB.. :nod:
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Re: Bidenflation and Shortage thread

Post by Winterborn »

AZGrizFan wrote: Wed Sep 14, 2022 8:08 pm
GannonFan wrote: Wed Sep 14, 2022 10:06 am

See, that's what you don't get, inflation can and does happen overnight. The money supply issue that has been the #1 source of this inflationary period is directly traced to the government spending, coupled with poor Fed oversight, from the past year and half. That's it. We didn't have this inflation prior to that, and without the very specific spending actions from the end of the Trump administration and even more so the current Biden administration (and not just spending, but also actions and policies that limited supply such as extended COVID jobless benefits as well as a sudden lurch to cut off fossil fuels and speed the transition to cleaner energy, even if cleaner energy isn't immediately available) then we wouldn't have this inflation. Inflation isn't magical, it's not some nebulous concept that comes out of nowhere. It's specifically too much money chasing too few goods/services, and is almost always a money supply issue. This isn't decades in the making, that's nonsense and unsupported by the facts. This is clearly in the making since about December of 2020 and still doesn't seem like the folks in charge even understand it (the Fed looks like they do, now, not so much Biden and his cohorts).

Oh, and I wouldn't classify Biden as a neo-liberal. He's basically just been a politician for his whole life (who happens to run as a Democrat). His is not really a career filled with a lot of specific milestones and policies, he's a guy who's sought office and stayed in office for a real long time - and maybe because he's not really much of a policy guy. He runs in elections and he wins elections. What he's done while he's been in Washington, for all these decades, is fairly unremarkable, other than being there at the beginning when we started to screw up how we nominate and approve SCOTUS judges. He took center stage on that one.
GF, the Fed, the Biden Administration and every Donk in the senate and congress ignored every single red flashing light and warning sign, INSISTING that there was no inflation, and what little there was was just “transitory” and would magically cure itself. Then they poured gasoline on the fire by sending round after round of stimulus and government spending, the Fed waited about 8 months too long to start raising rates, and now is behind the 8 ball. They now look panicked and confused, trying to get back ahead of the curve but inflation got SO hot, SO fast, they can’t get their arms around it almost no matter what they do at this point.

Look for ANOTHER 75 bps here in about a week, then another 50, and probably another 25 after that. We will be FIRMLY entrenched in a recession that’s already happening, but they (the Fed) have publicly stated they do NOT care. They fucked up and are trying to now right the ship that has fully overturned.
Well considering they are still trying (and in some cases succeeding in pouring more gasoline on the fire, i.e. their "new" rules on drilling and continued stances against any reasonable sort of energy policy), I am thinking that there will be at least two more 75pt rate increase with a couple of 50pt'ers afterwards. It is a lot easier to start the fire then put it out.

Everytime I try to measure the abject stupidity of the D's energy policy, I keep on having to revise my scale on the axes.
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Re: Bidenflation and Shortage thread

Post by Winterborn »

BDKJMU wrote: Wed Sep 14, 2022 6:27 am
It is all good as James Taylor opened up the "skit" by singing his song "Fire and Rain". I found several of the lines ironic. :lol:
Just yesterday mornin', they let me know you were gone
Suzanne, the plans they made put an end to you
I walked out this morning and I wrote down this song
I just can't remember who to send it to
I've seen fire and I've seen rain
I've seen sunny days that I thought would never end
I've seen lonely times when I could not find a friend
But I always thought that I'd see you again
Won't you look down upon me, Jesus?
You've got to help me make a stand
You've just got to see me through another day
My body's aching and my time is at hand
And I won't make it any other way
Oh, I've seen fire and I've seen rain
I've seen sunny days that I thought would never end
I've seen lonely times when I could not find a friend
But I always thought that I'd see you again
Been walking my mind to an easy time
My back turned towards the sun
Lord knows, when the cold wind blows
It'll turn your head around
Well, there's hours of time on the telephone line
To talk about things to come
Sweet dreams and flying machines in pieces on the ground
Oh, I've seen fire and I've seen rain
I've seen sunny days that I thought would never end
I've seen lonely times when I could not find a friend
But I always thought that I'd see you, baby
One more time again, now
Thought I'd see you one more time again
There's just a few things coming my way this time around, now
Thought I'd see you, thought I'd see you, fire and rain, now
“The best of all things is to learn. Money can be lost or stolen, health and strength may fail, but what you have committed to your mind is yours forever.” – Louis L’Amour

“Hard times create strong men. Strong men create good times. Good times create weak men. And, weak men create hard times.” - G. Michael Hopf

"I am neither especially clever nor especially gifted. I am only very, very curious.” – Albert Einstein
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Re: Bidenflation and Shortage thread

Post by CAA Flagship »

∞∞∞ wrote: Wed Sep 14, 2022 7:22 am
CAA Flagship wrote: Wed Sep 14, 2022 6:30 am

Time for you to go sit in the corner with JSO.
I was in Europe the entire summer. Pretty sure inflation was a thing there too.

We're part of a globalized economy. Immigration around the world was halted during the pandemic, people were laid off, and a deal with OPEC was made to reduce oil production. Then you've got things like climate change dealing blow after blow to crop yields, infrastructure, etc.

People also moved on from their jobs and it's been the largest global reshuffle of labor since WWII. Factories are still trying to find labor and it's had a domino effect for production everywhere. This is especially true in places where immigration is still being limited due to local politics, pandemic policies, or war.

Also, people (deservingly) want more money. They realized they can get paid more and so that's a part of it.

To simply say "Thanks Brandon" is dishonest. (btw, the whole Brandon thing is childish...just say Fuck Biden).
Again. You are looking at extremes. It's not a black and white thing. It has degrees. The complaint about this administration is that the degree of inflation is a lot higher than it should be because of the policies. And what happens here (the US as a global economic leader) has an effect on the rest of the world. There is one thing that affects just about everything in the economy, and that is energy. This administration is pushing the transition too fast. The US energy production is part of the GLOBAL system. And with our inability to backfill any voids from the Russian production (sanctions) is just making things like food shortages worse. Saying that the rest of the globe has high inflation is hiding the fact that the inflation has been made worse than it should be by the policies of this administration. And the sad thing is that some of these policies have yet to hit the US or Global economies, meaning that it will take longer to unwind.
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Re: Bidenflation and Shortage thread

Post by HI54UNI »

Winterborn wrote: Thu Sep 15, 2022 5:24 am
AZGrizFan wrote: Wed Sep 14, 2022 8:08 pm

GF, the Fed, the Biden Administration and every Donk in the senate and congress ignored every single red flashing light and warning sign, INSISTING that there was no inflation, and what little there was was just “transitory” and would magically cure itself. Then they poured gasoline on the fire by sending round after round of stimulus and government spending, the Fed waited about 8 months too long to start raising rates, and now is behind the 8 ball. They now look panicked and confused, trying to get back ahead of the curve but inflation got SO hot, SO fast, they can’t get their arms around it almost no matter what they do at this point.

Look for ANOTHER 75 bps here in about a week, then another 50, and probably another 25 after that. We will be FIRMLY entrenched in a recession that’s already happening, but they (the Fed) have publicly stated they do NOT care. They fucked up and are trying to now right the ship that has fully overturned.
Well considering they are still trying (and in some cases succeeding in pouring more gasoline on the fire, i.e. their "new" rules on drilling and continued stances against any reasonable sort of energy policy), I am thinking that there will be at least two more 75pt rate increase with a couple of 50pt'ers afterwards. It is a lot easier to start the fire then put it out.

Everytime I try to measure the abject stupidity of the D's energy policy, I keep on having to revise my scale on the axes.
I recently read some economist that said the Fed rate has to be >= to inflation to stop it. If he is correct we have a long way to go on interest rates. And energy policy is a mess. Just wait until people start receiving their natural gas bills this winter. And coal deliveries to power plants are already f'd up. Add in a rail strike, even if it is short term, and it is going to be even more messed up. Sorting everything out after a few days of no rail traffic or intentional slow downs if they are forced to go back is going to be CF.
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Re: Bidenflation and Shortage thread

Post by Winterborn »

HI54UNI wrote: Thu Sep 15, 2022 5:35 am
Winterborn wrote: Thu Sep 15, 2022 5:24 am

Well considering they are still trying (and in some cases succeeding in pouring more gasoline on the fire, i.e. their "new" rules on drilling and continued stances against any reasonable sort of energy policy), I am thinking that there will be at least two more 75pt rate increase with a couple of 50pt'ers afterwards. It is a lot easier to start the fire then put it out.

Everytime I try to measure the abject stupidity of the D's energy policy, I keep on having to revise my scale on the axes.
I recently read some economist that said the Fed rate has to be >= to inflation to stop it. If he is correct we have a long way to go on interest rates. And energy policy is a mess. Just wait until people start receiving their natural gas bills this winter. And coal deliveries to power plants are already f'd up. Add in a rail strike, even if it is short term, and it is going to be even more messed up. Sorting everything out after a few days of no rail traffic or intentional slow downs if they are forced to go back is going to be CF.
I have read something similar in several econ articles as well. I really think that the Fed is trying to do a soft landing, and while I hoe they succeed, I don't think they will. The market seemed to be betting that it will be all fixed this year and that is why the CPI numbers were such a shock to them. There are alot of delayed factors that are just coming up now. Example is some of the steel and energy contracts that manufactures lock in a yearish in advance.
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Re: Bidenflation and Shortage thread

Post by CAA Flagship »

GannonFan wrote: Wed Sep 14, 2022 10:06 am
kalm wrote: Wed Sep 14, 2022 9:46 am

Biden has also been a neo-liberal for almost all of his career. Your criticisms are fair but not unprecedented. We didn’t arrive here all because of what’s happened since 2021. Decades of low taxes, deferred infrastructure spending, and overall spending by both parties contribute. Inflation didn’t happen overnight. It takes awhile for that free money to filter down.
See, that's what you don't get, inflation can and does happen overnight. The money supply issue that has been the #1 source of this inflationary period is directly traced to the government spending, coupled with poor Fed oversight, from the past year and half. That's it. We didn't have this inflation prior to that, and without the very specific spending actions from the end of the Trump administration and even more so the current Biden administration (and not just spending, but also actions and policies that limited supply such as extended COVID jobless benefits as well as a sudden lurch to cut off fossil fuels and speed the transition to cleaner energy, even if cleaner energy isn't immediately available) then we wouldn't have this inflation. Inflation isn't magical, it's not some nebulous concept that comes out of nowhere. It's specifically too much money chasing too few goods/services, and is almost always a money supply issue. This isn't decades in the making, that's nonsense and unsupported by the facts. This is clearly in the making since about December of 2020 and still doesn't seem like the folks in charge even understand it (the Fed looks like they do, now, not so much Biden and his cohorts).

Oh, and I wouldn't classify Biden as a neo-liberal. He's basically just been a politician for his whole life (who happens to run as a Democrat). His is not really a career filled with a lot of specific milestones and policies, he's a guy who's sought office and stayed in office for a real long time - and maybe because he's not really much of a policy guy. He runs in elections and he wins elections. What he's done while he's been in Washington, for all these decades, is fairly unremarkable, other than being there at the beginning when we started to screw up how we nominate and approve SCOTUS judges. He took center stage on that one.
The pattern developing is that D administrations like low interest rates as if that is their way to create/maintain a strong economy. Yellen and the Obama administration held interest rates down way too long to offset their slow-play of the economic recovery. Interest rates during the Trump administration jumped. Now, in the Biden administration, the interest rates were held down too long.
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Re: Bidenflation and Shortage thread

Post by Winterborn »

CAA Flagship wrote: Thu Sep 15, 2022 5:52 am
GannonFan wrote: Wed Sep 14, 2022 10:06 am

See, that's what you don't get, inflation can and does happen overnight. The money supply issue that has been the #1 source of this inflationary period is directly traced to the government spending, coupled with poor Fed oversight, from the past year and half. That's it. We didn't have this inflation prior to that, and without the very specific spending actions from the end of the Trump administration and even more so the current Biden administration (and not just spending, but also actions and policies that limited supply such as extended COVID jobless benefits as well as a sudden lurch to cut off fossil fuels and speed the transition to cleaner energy, even if cleaner energy isn't immediately available) then we wouldn't have this inflation. Inflation isn't magical, it's not some nebulous concept that comes out of nowhere. It's specifically too much money chasing too few goods/services, and is almost always a money supply issue. This isn't decades in the making, that's nonsense and unsupported by the facts. This is clearly in the making since about December of 2020 and still doesn't seem like the folks in charge even understand it (the Fed looks like they do, now, not so much Biden and his cohorts).

Oh, and I wouldn't classify Biden as a neo-liberal. He's basically just been a politician for his whole life (who happens to run as a Democrat). His is not really a career filled with a lot of specific milestones and policies, he's a guy who's sought office and stayed in office for a real long time - and maybe because he's not really much of a policy guy. He runs in elections and he wins elections. What he's done while he's been in Washington, for all these decades, is fairly unremarkable, other than being there at the beginning when we started to screw up how we nominate and approve SCOTUS judges. He took center stage on that one.
The pattern developing is that D administrations like low interest rates as if that is their way to create/maintain a strong economy. Yellen and the Obama administration held interest rates down way too long to offset their slow-play of the economic recovery. Interest rates during the Trump administration jumped. Now, in the Biden administration, the interest rates were held down too long.
It is definitely a good way to cook the books and get people like JSO to fall for it.
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Re: Bidenflation and Shortage thread

Post by HI54UNI »

On a positive note, seeing that the rail strike has been averted unless the rank and file reject the tentative agreement.
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Re: Bidenflation and Shortage thread

Post by Winterborn »

Hopefully it sticks. $2billion a day in cost is nothing to sneeze at.
“The best of all things is to learn. Money can be lost or stolen, health and strength may fail, but what you have committed to your mind is yours forever.” – Louis L’Amour

“Hard times create strong men. Strong men create good times. Good times create weak men. And, weak men create hard times.” - G. Michael Hopf

"I am neither especially clever nor especially gifted. I am only very, very curious.” – Albert Einstein
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Re: Bidenflation and Shortage thread

Post by HI54UNI »

Bundesbank: Germany faces recession, double-digit inflation

Central bank sees pronounced declines in activity coming soon.

FRANKFURT — Germany is heading into recession as inflation is set to top the 10-percent mark, the Bundesbank said in its monthly report on Monday.

“There are mounting signs of a recession in the German economy in the sense of a clear, broad-based and prolonged decline in economic output,” the report said.

https://www.politico.eu/article/bundesb ... inflation/
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