Re: How much will the Fed raise rates?
Posted: Tue Sep 20, 2022 2:10 pm
Agreed. They are chasing it but need to get ahead of it
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Agreed. They are chasing it but need to get ahead of it
Well the Fed may be trying to tame inflation, but the administration is doing everything in its power to pour gasoline on the fire. It’s no wonder 225 basis points of increase in six months has barely put a dent in it.bobbythekidd wrote: ↑Tue Sep 20, 2022 2:10 pmAgreed. They are chasing it but need to get ahead of it
Well, there is the chance that the feeling with Dems is that we're in a massive economic hole anyway, how much worse can we make it by piling on stuff that normally we couldn't pass and actually stands in the way of getting our financial house in order? I mean, if it's going to be bad, how much does it matter if it's a little worse? That whole idea of always taking advantage of a crisis. Of course, there's also still the more disturbing idea of the left's recent economic train of thought that government spending can be infinite because you can always just print more money to pay for it. It doesn't make any economic sense, but apparently it has a wide audience. This will certainly be a bumpy next 12 months. It may not look like 2008 but not every recession looks like 2008.AZGrizFan wrote: ↑Tue Sep 20, 2022 7:25 pmWell the Fed may be trying to tame inflation, but the administration is doing everything in its power to pour gasoline on the fire. It’s no wonder 225 basis points of increase in six months has barely put a dent in it.bobbythekidd wrote: ↑Tue Sep 20, 2022 2:10 pm
Agreed. They are chasing it but need to get ahead of it
The Inflation Reduction Act has yet to hit the books, right? Shit gonna get wild out there.AZGrizFan wrote: ↑Tue Sep 20, 2022 8:41 amThis recession that we're not in, and this inflation that is transitory and nonexistent are gonna suck for the next 12-18 months.GannonFan wrote: ↑Tue Sep 20, 2022 7:46 am
Yup. Inflation is still crazy high, and that's even with energy slightly pulling back (and even that is high versus last year). Again, problem with letting inflation get out of the barn, it's really difficult to rein back in. It's going to get worse before it gets better, and we're still a year or two away from getting this back in the barn, hopefully.
You’re giving them entirely too much credit here. I firmly believe they truly do NOT understand what causes inflation, and JSO’s ignorance on this topic is exhibit A. From the president on down they have proven they don’t know what a recession is, what inflation is, and how either are caused.GannonFan wrote: ↑Tue Sep 20, 2022 7:51 pmWell, there is the chance that the feeling with Dems is that we're in a massive economic hole anyway, how much worse can we make it by piling on stuff that normally we couldn't pass and actually stands in the way of getting our financial house in order? I mean, if it's going to be bad, how much does it matter if it's a little worse? That whole idea of always taking advantage of a crisis. Of course, there's also still the more disturbing idea of the left's recent economic train of thought that government spending can be infinite because you can always just print more money to pay for it. It doesn't make any economic sense, but apparently it has a wide audience. This will certainly be a bumpy next 12 months. It may not look like 2008 but not every recession looks like 2008.
Well, you may be correct there. There is an amazingly insufficient amount of simple economic understanding out there, and if JSO is any example of this from Dems on the left then it's certainly true. Just ignoring the tremendous impact of money supply on inflation is a shocking revelation of economic incompetence. Like I said though, I think many Dems in power right now have deluded themselves by the new school of economic thought that incorrectly divorces government spending from the money supply.AZGrizFan wrote: ↑Tue Sep 20, 2022 9:06 pmYou’re giving them entirely too much credit here. I firmly believe they truly do NOT understand what causes inflation, and JSO’s ignorance on this topic is exhibit A. From the president on down they have proven they don’t know what a recession is, what inflation is, and how either are caused.GannonFan wrote: ↑Tue Sep 20, 2022 7:51 pm
Well, there is the chance that the feeling with Dems is that we're in a massive economic hole anyway, how much worse can we make it by piling on stuff that normally we couldn't pass and actually stands in the way of getting our financial house in order? I mean, if it's going to be bad, how much does it matter if it's a little worse? That whole idea of always taking advantage of a crisis. Of course, there's also still the more disturbing idea of the left's recent economic train of thought that government spending can be infinite because you can always just print more money to pay for it. It doesn't make any economic sense, but apparently it has a wide audience. This will certainly be a bumpy next 12 months. It may not look like 2008 but not every recession looks like 2008.
I think there is also some arrogance/overconfidence in the power of government. They seem to believe that the economy should respond as the government directs.GannonFan wrote: ↑Tue Sep 20, 2022 9:38 pmWell, you may be correct there. There is an amazingly insufficient amount of simple economic understanding out there, and if JSO is any example of this from Dems on the left then it's certainly true. Just ignoring the tremendous impact of money supply on inflation is a shocking revelation of economic incompetence. Like I said though, I think many Dems in power right now have deluded themselves by the new school of economic thought that incorrectly divorces government spending from the money supply.AZGrizFan wrote: ↑Tue Sep 20, 2022 9:06 pm
You’re giving them entirely too much credit here. I firmly believe they truly do NOT understand what causes inflation, and JSO’s ignorance on this topic is exhibit A. From the president on down they have proven they don’t know what a recession is, what inflation is, and how either are caused.
Exactly. They seem to think they can just "wish" something to be so.UNI88 wrote: ↑Tue Sep 20, 2022 9:43 pmI think there is also some arrogance/overconfidence in the power of government. They seem to believe that the economy should respond as the government directs.GannonFan wrote: ↑Tue Sep 20, 2022 9:38 pm
Well, you may be correct there. There is an amazingly insufficient amount of simple economic understanding out there, and if JSO is any example of this from Dems on the left then it's certainly true. Just ignoring the tremendous impact of money supply on inflation is a shocking revelation of economic incompetence. Like I said though, I think many Dems in power right now have deluded themselves by the new school of economic thought that incorrectly divorces government spending from the money supply.
Probably at least the current administration at a minimum. I'm sure you can through a few folks from Congress in there as well. Economy's doing great, maybe the best of all time, according to those sources. I don't necessarily agree.
Well, they have to correct it now. Once inflation gets away you still have to do something about it. Obviously would've been better not to be in this predicament but can't change history now.