INFLATION

Discussion in 'West Mall' started by Chop, Nov 30, 2021.

  1. mb227

    mb227 de Plorable

    There are certainly elements that were worse then...gas lines had returned and we saw double-digit interest rates. However, for those that had the funds to save, those same high interest rates DID make for some good short-term CD rates and returns. For those that had funds to invest, there were some buying opportunities as well...after all, I still remember that it was not until the early 80's that the Dow actually cracked four-digits for the first time ever...and now we are seeing drops of MORE than that amount.

    Before Joe gets replaced, he will have cratered things in a manner that make him the all-time worst. And if the left follows through on their threats to be 'ungovernable' after the Opinion comes out, the economy will get far worse before the Republicans can turn things around after November elections are done and in the books.

    At least he doesn't have a hostage crisis...yet. Give him time. He seems to like tossing Americans to the wind, as we already saw in Afghanistan.
     
  2. SabreHorn

    SabreHorn 10,000+ Posts

    Chop,

    Carter got the real inflation rate up around 42%.

    My real inflation rate considers things that impact every American every day:

    Cost of housing
    Cost of autos
    Cost of utilities
    Cost of groceries
    Cost of gasoline

    Jimmy Carter was a good man, who was better suited to manage a McDonalds than run the US. Couple that with the "character" of his close friends and you have one helluva mess. I had a very powerful friend who was involved in the civil rights movement and Democrat Party. When I stopped by to pick him up, Carter called to see why he had not RSVP his invitation to Carter's inauguration. When my friend hung up, he told me, "Stupid son-of-a-***** is too damn dumb to realize that not even I voted for him. It's gonna be a bumpy ride".
     
    • Hot Hot x 1
  3. mb227

    mb227 de Plorable

    Showing, yet again, that Sabre really DOES know damned near everyone in the Western world and, if Sabre does not know them, likely has someone in their contacts who DOES know the other person.
     
    • Agree Agree x 3
  4. iatrogenic

    iatrogenic 2,500+ Posts

    Now I feel more insignificant than ever before. Sabre, can I be your friend?
     
    • Funny Funny x 1
  5. SabreHorn

    SabreHorn 10,000+ Posts

    I guess. I've never had one for more than 10-15 minutes

    :beertoast:
     
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  6. Chop

    Chop 10,000+ Posts

    I remember as a youth, sitting in the station wagon in a long line at the gas station, just hoping they wouldn’t run out of gas before we got to the pump.
     
    • Agree Agree x 1
  7. Chop

    Chop 10,000+ Posts

    Yeah, the Kennedy’s never did care much for Jimmy Carter…

    :beertoast:
     
  8. mchammer

    mchammer 10,000+ Posts

    What a shitshow

     
    • WTF? WTF? x 1
  9. Horn6721

    Horn6721 10,000+ Posts

    But she is a POC
     
  10. Chop

    Chop 10,000+ Posts

    If she’s trying to shut down all O&G drilling, then she’s a domestic enemy of the United States.

    This is a time to cut through red tape and expedite drilling permits—NOT to shut them down.
     
    • Winner Winner x 1
  11. mchammer

    mchammer 10,000+ Posts

    Piece of chit?
     
    • Funny Funny x 2
    • Winner Winner x 2
    • Hot Hot x 1
  12. nashhorn

    nashhorn 5,000+ Posts

    Not on their agenda Chop, which is to literally shut down any and all energy products not consistent with the ‘green’ agenda. They will not be satisfied until we are forced to adopt their agenda even if we die doing it. I absolutely believe that. My only question in the whole mess is if SloJo even knows what is going on - I doubt it.
     
  13. Chop

    Chop 10,000+ Posts

    He’s gotten senile in his old age. He’s surrounded by some dumb and reckless people. His background is in representing Delaware. That means, in large part, representing the interests of: (i) corporate headquarters and related support, and (ii) the chemical, including petrochemical, business.
     
  14. nashhorn

    nashhorn 5,000+ Posts

    Yep, like I said, I doubt he even knows what’s going on.
     
  15. Vol Horn 4 Life

    Vol Horn 4 Life Good Bye To All The Rest!

    It amazes me how many oil and coal industry workers will vote to kill their jobs and not be smart enough to realize they did it to themselves. It also amazes me liberal candidates say during every election cycle how they want to kill the oil, gas and coal industries then when they do it the left wants to blame any and everything else but their beloved leaders when gas hits $5 - $6 a gallon and prices of everything increase.

    Just dumb.
     
    • Agree Agree x 1
  16. UTChE96

    UTChE96 2,500+ Posts

    Clearly that's a Russian disinformation campaign.
     
  17. mchammer

    mchammer 10,000+ Posts

  18. Chop

    Chop 10,000+ Posts

  19. Chop

    Chop 10,000+ Posts

    https://www.thedenverchannel.com/ne...udget-office-says-inflation-to-last-into-2023

    "The Congressional Budget Office says that high inflation will persist into next year.

    This will likely cause the federal government to pay higher interest rates on its debt.

    The nonpartisan agency expects that the consumer price index will rise 6.1% this year and 3.1% in 2023.

    This forecast suggests that inflation will slow from current annual levels of 8.3%, yet it would still be dramatically above a long-term baseline of 2.3%."
     
  20. Chop

    Chop 10,000+ Posts

    Stocks slip, bond yields rise on inflation worries

    "Global stocks fell and bond yields rose on Wednesday, while the dollar strengthened, as investors fretted over soaring inflation and the impact on global growth from looming interest rate rises.
    ...
    German retail sales fell by more than expected in April as consumers felt the pinch of higher prices."


    Basically, the dollar is a global currency of refuge. While we have high inflation, the dollar continues to be strong. Many other currencies are seen as less safe.
     
  21. Chop

    Chop 10,000+ Posts

  22. Chop

    Chop 10,000+ Posts

    Inflation Is at Historic Highs — Here’s What Could Have Been Done To Prevent It

    Smart guy, John Csiszar, explains what could have been done to prevent this high inflation.

    While there is never a single cause of inflation, various policy decisions from the U.S. government and the Federal Reserve Board over the past two years have been cited as major contributors to the current inflationary predicament.

    1. Stimulus Checks Could Have Been Limited

    "... this flood of stimulus money almost inevitably contributed to the sharp rise in inflation occurring in 2022. Researchers at the Federal Reserve Bank of San Francisco quantified this amount, finding that about 3% of the jump in inflation by the end of 2021 could be attributed to the stimulus." [quoting Alianz's (huge German financial firm) El-Arian]

    2. The Fed Could Have Acted Sooner

    The characterization of inflation as transitory is probably the worst inflation call in the history of the Federal Reserve, and it results in a high probability of a policy mistake.

    ... the Fed’s reluctance to act contributed to rising inflation rates. The Chief Economic Advisor for Allianz suggested three policy changes in December 2021 that in his view would stop the inflation crisis, saying, “I would 1) be very open and honest as to why I got the inflation call wrong and try to regain the inflation narrative. 2) I would go even further than doubling the rate of taper, and 3) I would open it up to the possibility that rate hikes may come faster than what the market has.”

    The Fed has recently stepped up its rhetoric regarding raising the fed funds rate more aggressively and increasing the rate of its taper. The question remains whether it’s too little, too late.


    [​IMG]

    John Csiszar-certified "smart guy"
    so smart, they put his articles
    on the Internet.
     
  23. Monahorns

    Monahorns 5,000+ Posts

    I don't think any article from yahoo has any clue about economics. Giving less in stimulus and raising rates sooner would have some affect. But they weren't going to prevent anything.
     
  24. Chop

    Chop 10,000+ Posts

    They were quoting El-Arian of Allianz, who was citing the Fed S.F. study that 3% of the high inflation was the result of the stimulus checks. That would have dropped inflation into the 5% range. El-Arian has, for a long time, seemed to me to have his stuff together when it comes to economics and broad economic trends.
     
  25. Monahorns

    Monahorns 5,000+ Posts

    Yeah let's cite the Fed. The people who are responsible for doing all this to us. They are either liars or villains or both.
     
  26. iatrogenic

    iatrogenic 2,500+ Posts

    Inflation is how the non- productive pay their “fair share”, their penalty, for receiving wealth transfer from others. They are least able to afford it, but are a major reason for the cause of it. Of course, we all pay.
     
  27. Monahorns

    Monahorns 5,000+ Posts

    Inflation is giving the non-productive money in hand to go buy things. This isn't just people on the low end of class either. The upper class gets great benefit way more than any welfare recipient does. The welfare recipient doesn't get 100s of thousands and millions through the central bank. The welfare class gets pittances which become less valuable as more money is created out of thin air. I guarantee their payments don't keep up with inflation. I guarantee that the wealthy recipients of the new money aren't as punished by inflation.
     
    • Agree Agree x 1
  28. iatrogenic

    iatrogenic 2,500+ Posts

    Tell me what you are referring to regarding “getting millions from the central bank”
     
  29. Chop

    Chop 10,000+ Posts

    Sri Lanka is falling apart. They’re up to 133% inflation. That usually means an overthrow of the regime. They grow and export a lot of tea. “Ceylon”

    Their govt banned the use of synthetic / non-organic / non-“green” fertilizers a while back, greatly harming the tea industry. They recently repealed the ban.

    Sri Lanka is now living on credits from India. That may end very soon. China may step in “to benevolently lend a helping hand…”. China put a lot of $$$ into Sri Lanka’ port facilities.
     
    Last edited: Jun 2, 2022
  30. Monahorns

    Monahorns 5,000+ Posts

    When the Fed created $1 Trillion and then $2 Trillion in 2020 and 2021, that money goes to big banks. That money then gets distributed to the politically connected banks, corporations, NGOs, etc. They benefit from the money creation and spend it before the price inflation occurs.
     
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