Surging prices: Key inflation metric just hit a 29-year high

Discussion in 'MKJ Off-Topic' started by 901 Club, May 29, 2021.

  1.    
  2. old scotty

    old scotty Junior Member


    Joined:
    Aug 24, 2017
    Messages:
    16,811
    Likes Received:
    20,700
    May 29, 2021
    #2
    But but but....NPD said there would be no inflation...

    Of course he also said Trump's Covid policies would bring 2.2 million deaths....by last October
     
  3. SoCalN8tiv

    SoCalN8tiv Junior Member


    Joined:
    Aug 24, 2017
    Messages:
    16,676
    Likes Received:
    21,322
    May 29, 2021
    #4
    GaryB lied to us...What else is new?

    Biden fucked up the country's economic recovery as we all said he would do, amongst a lot of other things he fucked up. What else is new?
     
    SCBIGTIME and SouthbayTrojan91 like this.
  4. fssca51

    fssca51 Junior Member

    WeAreSc Member
    Joined:
    Aug 24, 2017
    Messages:
    6,562
    Likes Received:
    3,856
    May 29, 2021
    #5
    If he can do alll this in just four montths just imagine what he can do with the 3 years 8 months he has left.
     
    Last edited: May 30, 2021
    Troianus Acies likes this.
  5. GaryB

    GaryB Junior Member


    Joined:
    Aug 24, 2017
    Messages:
    6,248
    Likes Received:
    1,071
    May 30, 2021
    #7
    You should be thanking Biden. Last April, the economy was shutdown. Do you really want the government to tighten right now?

    In April 2020, 80,282,000 citizens were not in the labor force. That number has only declined by 2.5 million, as the labor participation rate stagnates at 61%. As occurred under Trump, the number of people leaving the workforce is the only reason that the unemployment rate is so low. Do you really want the government to reduce the money supply and curtail spending at this point of the recovery?

    Around the world supply chains have been disrupted as factories were forced to shutdown to deal with the pandemic. As a result, we have a supply shortage at the same time that we have a surge in demand. Do you want to decelerate demand before supply has a chance to catch up? Aren’t red states already doing that by ending federal unemployment benefits early?

    Right now, The fed is still buying Repos on a daily basis to assure liquidity. The first step for the government to normalize markets would be ending the repurchase program. The second step would be for the Treasury to stop monetizing US debt. Currently, the government is filling the demand void in every auction.

    If the US were to step back from these two strategies to assure market liquidity, the housing market would suffer the most. Currently, the Fed is authorized to purchase $1.45trillion of mortgage back securities annually. Removing their purchases would push mortgage rates up an estimated 300 basis points. Inflation would immediately contract as the housing market implodes.

    The most compelling question about inflation that needs to be addressed is how much of the current change is transitory and how do we increase productivity to offset the price increases instead of using monetary and fiscal policies? If Biden’s infrastructure plan passes, the fed will have an opportunity to end its monetization programs. But, until that bill passes, I would be careful what I ask for...
     
  6. old scotty

    old scotty Junior Member


    Joined:
    Aug 24, 2017
    Messages:
    16,811
    Likes Received:
    20,700
    May 30, 2021
    #8
    commie liar....
    he is the one who said there would be no inflation....he never owns up
     
    SCBIGTIME likes this.
  7. denali15

    denali15 Points Member


    Joined:
    Aug 28, 2017
    Messages:
    6,569
    Likes Received:
    7,315
    May 30, 2021
    #9
    Or...maybe, just maybe, labor force numbers are affected by the fact that someone can get paid, as one of our liberal posters used to say, $20/hour sitting on the couch watching Netflix.

    At dinner last night, I commented on the service. The waiter, who was also the Asst Manager, apologized but added that they are desperately trying to hire more servers but that can't even get applicants.

    But only an economist thinks it makes sense to double down on "stimulus" during a roaring economy.

    This is also the guy that thinks COVID had nothing to do with the downturn. It was all caused by tariffs and tax cuts, so I'm not sure why he bothers commenting on this stuff.
     
    Last edited: May 30, 2021
    SCBIGTIME and SouthbayTrojan91 like this.
  8. LaissezFaire28thStUSC

    LaissezFaire28thStUSC Junior Member


    Joined:
    Aug 24, 2017
    Messages:
    3,748
    Likes Received:
    6,319
    May 30, 2021
    #10
    The economy is just "reverting to the mean" with high inflation under another incompetent liberal President, advised by incompetent liberal economists (a redundant phrase).
     
    SCBIGTIME likes this.
  9. SCBIGTIME

    SCBIGTIME Junior Member


    Joined:
    Aug 24, 2017
    Messages:
    11,817
    Likes Received:
    33,343
    May 30, 2021
    #11
    Fuck Biden and all of the idiot's who not only share GaryB's fucked up communist ideas, but also used their votes to commit jihad at the ballot box.
     
    SouthbayTrojan91 likes this.
  10. SoCalN8tiv

    SoCalN8tiv Junior Member


    Joined:
    Aug 24, 2017
    Messages:
    16,676
    Likes Received:
    21,322
    May 30, 2021
    #12
    Inflation made simple so even GaryB and his band of trolls can understand. It's not that complimicated
     
    SCBIGTIME likes this.
  11. SouthbayTrojan91

    SouthbayTrojan91 Junior Member


    Joined:
    Aug 24, 2017
    Messages:
    6,141
    Likes Received:
    6,950
    May 30, 2021
    #13
    The Onion called.
     
    SCBIGTIME likes this.
  12. Troianus Acies

    Troianus Acies Junior Member


    Joined:
    Aug 24, 2017
    Messages:
    7,089
    Likes Received:
    9,868
    May 30, 2021
    #14
    With the New World Order, Globalists, Socialists, and the C.C.P. in charge. . . This stuff will soon be as useful as toilet paper!
     
    Last edited: May 31, 2021
    fssca51 and SCBIGTIME like this.

Share This Page