The economy. Hot, or not?

[John Edgar Slow Horses]

The 9 no's are simply, "Wah, I don't like Biden."

 

[westwall]

I'm sure you have people struggling because of high interest rates, but probably have just as man who went out and bought a new iphone for $1,600 on their credit card.

Ummmm, people who are struggling don't own $1600 telephones. That's more than the car they drive.

 

[The Duke]

most of us lived through the past two years as well. The thing about inflation is that once the prices go up they do not come back down. Eventually wages will catch up, but in the mean time you should not dismiss those people that are hurting due to inflation

What happened to the "I got mine, so fuck everybody else" attitude?

 

[hadit]

That's their incentive when all that matters is raising funds and being re-elected.

Getting money out of politics and instituting term limits would address that.

You will never, and I repeat, never "get money out of politics", and here's why. Money chases power, and government ALWAYS increases its power. This is why a bartender deep in debt can come into office and a few years later emerge as a millionaire on a salary that would enable only basic living in DC. The ONLY way to reduce the influence of money over politics is to reduce the amount of power the government can and does wield.

 

[CowboyTed]

The economy is very strong. Over 5% GDP last reading. There are some signs that we'll see a slowdown, but that's cyclical. Maybe. As pissed as I am at the Fed for taking so fucking long to address inflation, the chances of a "soft landing" are increasing.

Americans look at inflation hitting them square in the face and don't really care about things like GDP, and that's understandable. It looks like they're going to blame Biden for it, and that's the way it goes.

But right now, at this moment, yeah, it's very strong.

In fairness to the Fed they have kept inflation lower than other first world countries generally...
On Inflation the US has done better than nearly everyone.

https://www.reuters.com/breakingviews/europe-faces-dirtier-inflation-fight-than-us-2023-09-06/

By the way the cause of inflation was mainly due to two reasons:
Oil Supply : Trump threatened the OPEC countries to cut supply of Oil in April 2020. That is wahat caused the world shortage, US is producing more Oil than it needs but Oil is a global commodity which is sold on the open market. For less than a cent per Gallon it can be shipped to any other economy.
Supply Chain Management: During COVID this was not protected. There are times the Government have to pay to keep vital infrasturture working even though it might not be economically viable in the short term (or even the long term). This happens for Mail Delivery, Train infrastructure.... Without these then the economy suffers... During COVID this was ignored, it maybe not sexy and boring but it was vital and the ball was dropped.

 

[Mac1958]

In fairness to the Fed they have kept inflation lower than other first world countries generally...
On Inflation the US has done better than nearly everyone.

https://www.reuters.com/breakingviews/europe-faces-dirtier-inflation-fight-than-us-2023-09-06/

By the way the cause of inflation was mainly due to two reasons:
Oil Supply : Trump threatened the OPEC countries to cut supply of Oil in April 2020. That is wahat caused the world shortage, US is producing more Oil than it needs but Oil is a global commodity which is sold on the open market. For less than a cent per Gallon it can be shipped to any other economy.
Supply Chain Management: During COVID this was not protected. There are times the Government have to pay to keep vital infrasturture working even though it might not be economically viable in the short term (or even the long term). This happens for Mail Delivery, Train infrastructure.... Without these then the economy suffers... During COVID this was ignored, it maybe not sexy and boring but it was vital and the ball was dropped.

$11 trillion in stimulus over the years combined with the collapsted global supply chains.

Everyone was saying all along that all that stimulus would cause huge inflation. Once the chains collapsed, that's exactly what happened.

 

[The Duke]

$11 trillion in stimulus over the years combined with the collapsted global supply chains.

Everyone was saying all along that all that stimulus would cause huge inflation. Once the chains collapsed, that's exactly what happened.

Nothing to do with fuel, huh, retard?

 

[Harpy Eagle]

What happened to the "I got mine, so fuck everybody else" attitude?

Oh, I still have that, just pointing out to the poster that not everyone has

 

[Mac1958]

Nothing to do with fuel, huh, retard?

Very little, Einstein. Only on the margins. We've had plenty of oil price spikes these last few years, and it never caused inflation.

If you don't like that, tough shit.

 

[The Duke]

Oh, I still have that, just pointing out to the poster that not everyone has

I'm wondering when you came to the point of realizing that and sympathetic to it.

That seems to be a break from your norm.

 

[The Duke]

Very little, Einstein. Only on the margins. We've had plenty of oil price spikes these last few years, and it never caused inflation.

If you don't like that, tough shit.

Because you say, with no proof? Yeah, fuck off with that.

Actually it contributed to inflation in the 70s, and the 2020s, but why try to rattle your delusions?

Just go read some more shit by University economists that don't live in the real world.

 

[Harpy Eagle]

I'm wondering when you came to the point of realizing that and sympathetic to it.

That seems to be a break from your norm.

It is Christmas time, even the Grinch was won over by the season!

 

[Marener]

That's not a governmental authority.

I know. That’s my point.

 

[Lesh]

most of us lived through the past two years as well. The thing about inflation is that once the prices go up they do not come back down. Eventually wages will catch up, but in the mean time you should not dismiss those people that are hurting due to inflation

Past inflation is past. It sucks but it’s in the past.

We all know there was a reason to dump all that money into the economy but we are living in the here and now

 

[Mac1958]

Because you say, with no proof? Yeah, fuck off with that.

Actually it contributed to inflation in the 70s, and the 2020s, but why try to rattle your delusions?

Here you go, rube.

You won't understand it.

Crude Oil Prices - 70 Year Historical Chart

Interactive charts of West Texas Intermediate (WTI or NYMEX) crude oil prices per barrel back to 1946. The price of oil shown is adjusted for inflation using the headline CPI and is shown by default on a logarithmic scale. The current month is updated on an hourly basis with today's latest value.

www.macrotrends.net

 

[Marener]

Maybe you should try to get you some, then.

You should demonstrate some intellectual honesty.

 

[Lesh]

Most people’s opinions are. Certainly when it comes to the “economy”. The guy barely making it with 2 kids a mortgage and a pregnant wife doesn’t give a shit about the GDP growth, or inflation numbers except as it relates to his bottom line.

And that’s always been the case. This is not new

 

[Mac1958]

You should demonstrate some intellectual honesty.

First he'd have to demonstrate some intellect.

 

[Harpy Eagle]

Past inflation is past. It sucks but it’s in the past.

yet it stays with us, those prices are still higher.

 

[Lesh]

yet it stays with us, those prices are still higher.

Bitching about the past is just a waste of time.

Why do it?