Biden Confronts The Economic Crisis

[Over 29 years of fanhood]

9 minutes ago, Tiberius said:

You want to work in a meat processing plant? 

It might not be a passion, but if I need a job and they are hiring I’m not above earning a paycheck. Like all careers you start way the bottom and work your way up. 
 

Can’t be harder than Cleaning, gutters, mowing lawns tossing mulch and wheelbarrowing crushed stone uphill for 70 hours a week. 

[Tiberius]

3 minutes ago, Over 29 years of fanhood said:

It might not be a passion, but if I need a job and they are hiring I’m not above earning a paycheck. Like all careers you start way the bottom and work your way up. 
 

Can’t be harder than Cleaning, gutters, mowing lawns tossing mulch and wheelbarrowing crushed stone uphill for 70 hours a week. 

Still, you have to find the people willing to do the work. A guy with a degree won't apply there, in all likelihood. 

 

And those people cleaning gutters, etc. already have that job, right? Not everyone will do those jobs, either 

[Chef Jim]

7 minutes ago, Over 29 years of fanhood said:

It might not be a passion, but if I need a job and they are hiring I’m not above earning a paycheck. 

 

It's a dirty job that, according to Tibs, should only be done by brown people. 

1 minute ago, Tiberius said:

Still, you have to find the people willing to do the work. A guy with a degree won't apply there, in all likelihood. 

 

 

 

If that guy with the degree needs to feed his family and pay the rent he damn well better apply there if there are openings.  

[Over 29 years of fanhood]

28 minutes ago, Tiberius said:

Still, you have to find the people willing to do the work. A guy with a degree won't apply there, in all likelihood. 

 

And those people cleaning gutters, etc. already have that job, right? Not everyone will do those jobs, either 

I did that job. 
 

2/3rds of population doesn’t have a college degree. 
 

Almost 10 million people are unemployed.
 

Seems to me an undesirable job vs no job shouldn’t be an option. 

[Tiberius]

2 minutes ago, Over 29 years of fanhood said:

I did that job. 
 

2/3rds of population doesn’t have a college degree. 
 

Almost 10 million people are unemployed.
 

Seems to me an undesirable job vs no job shouldn’t be an option. 

What are you going to do? Go out and yell at people to do jobs they do not want to do? 

[Over 29 years of fanhood]

2 minutes ago, Tiberius said:

What are you going to do? Go out and yell at people to do jobs they do not want to do? 

If we stop paying people not to work, it should sort itself out. 

[Chef Jim]

3 minutes ago, Tiberius said:

What are you going to do? Go out and yell at people to do jobs they do not want to do? 

 

Of course not.  We give those terrible jobs that no one wants to do to those brown people.   You're good with that right?  

[B-Man]

 

But warning bells are starting to be heard about another impending shortage of consumer goods and food staples as wholesale prices of certain raw materials used in a wide variety of food preparations have risen sharply over the past several weeks. This steady upward price pressure is coming at a time when many fragile economies around the world are not in a position to handle a sharp rise in the cost of food for their populations.

 

Soaring raw material prices have broad repercussions for households and businesses, and threaten a world economy trying to recover from the damage of the coronavirus pandemic. They help fuel food inflation, bringing more pain for families that are already grappling with financial pressure from the loss of jobs or incomes. For central banks, a spike in prices at a time of weak growth creates an unwelcome policy choice and could limit their ability to loosen policy.

 

“There seems to be sort of a bullish force behind the prices internationally,” Abdolreza Abbassian, senior economist at the United Nations’ Food and Agriculture Organization, said in an interview. “The indications are that there is very little reason to believe prices would remain at these levels. It’s more likely they will rise further. Hardship is still ahead.”

 

But early in the pandemic, the increased costs of some food products were offset by a steep drop in energy prices which resulted from enormous reductions in energy consumption as people stayed home rather than traveled.

 

But with current energy prices soaring, any increase in food costs in the months ahead will be just like pouring gasoline on a fire — excuse the pun.

Gas prices jumped over 9% in the past month and they’re not expected to slow down anytime soon.

 

Gas prices are up 22.5% from the previous year and were the biggest contributor to an overall increase in goods and services in the nation, according to the US Bureau of Labor Statistics’ Consumer Price Index. Fuel prices pushed a 1-month increase in the overall price of goods for March that was the highest in nearly 9 years.

 

A recent government report shows gas prices are expected to climb to a three-year high this summer. Prices at the pump will average $2.78 per gallon — up 34% from 2020 — in the next six months, according to the Energy Information Administration (EIA).

 

But the rising prices for food are being driven not just by increased production costs or cutbacks in farm activity.  A big part of the upward pressure on price is the increased presence of one particular country in the world market with plenty of money to spend — China.

 

The most recent crop spikes follow months of price gains fueled by booming import demand from China. Corn prices have doubled in the past year, while soybeans are up about 80% and wheat 30%. With China’s purchases continuing and a spate of adverse weather conditions threatening crops in Brazil and the U.S., there are few signs of respite. Analysts including those at Rabobank, Mintec and HSBC Global Research all see a risk of even higher prices as a result, though it will vary across markets.

 

“Generally people see this inflation continuing,” said Tosin Jack, an analyst at Mintec, which monitors commodity prices. “The trend will continue for some time and it will translate into consumer goods.”

 

Americans have been able to survive financially for the better part of a year due, to some degree, to a government-provided bubble. Various COVID-19 relief and stimulus programs, combined with such market-altering policies as eviction and foreclosure moratoriums, have sheltered Americans from some of the harsher financial realities of the economic shutdown.

 

But those costs are going to come due soon for many.  It is beginning to look like a triple whammy is about to be visited on American consumers — higher food costs, higher energy prices, and a day of reckoning in having to deal with financial pain that has been only delayed, not eliminated, resulting from the economic shutdown.

 

https://www.bloomberg.com/news/articles/2021-04-24/the-grocery-food-price-bill-is-going-to-get-more-expensive

 

https://www.businessinsider.com/gas-prices-skyrocketing-in-us-expected-increase-further-summer-2021-4?op=1

 

https://redstate.com/shipwreckedcrew/2021/04/26/food-prices-are-about-to-soar-right-alongside-gas-and-electricity-costs-n369051

 

 

 

[RochesterRob]

48 minutes ago, Chef Jim said:

 

It's a dirty job that, according to Tibs, should only be done by brown people. 

 

If that guy with the degree needs to feed his family and pay the rent he damn well better apply there if there are openings.  

  I think that Tiberius would do well shoveling chit on a WNY dairy farm (for the ones that are still left).

[Tiberius]

18 minutes ago, Over 29 years of fanhood said:

If we stop paying people not to work, it should sort itself out. 

Ah, the old Welfare ruined society argument 

 

Wouldn't change a thing. People still wouldn't want to do many jobs 

16 minutes ago, B-Man said:

 

But warning bells are starting to be heard about another impending shortage of consumer goods and food staples as wholesale prices of certain raw materials used in a wide variety of food preparations have risen sharply over the past several weeks. This steady upward price pressure is coming at a time when many fragile economies around the world are not in a position to handle a sharp rise in the cost of food for their populations.

 

Soaring raw material prices have broad repercussions for households and businesses, and threaten a world economy trying to recover from the damage of the coronavirus pandemic. They help fuel food inflation, bringing more pain for families that are already grappling with financial pressure from the loss of jobs or incomes. For central banks, a spike in prices at a time of weak growth creates an unwelcome policy choice and could limit their ability to loosen policy.

 

“There seems to be sort of a bullish force behind the prices internationally,” Abdolreza Abbassian, senior economist at the United Nations’ Food and Agriculture Organization, said in an interview. “The indications are that there is very little reason to believe prices would remain at these levels. It’s more likely they will rise further. Hardship is still ahead.”

 

But early in the pandemic, the increased costs of some food products were offset by a steep drop in energy prices which resulted from enormous reductions in energy consumption as people stayed home rather than traveled.

 

But with current energy prices soaring, any increase in food costs in the months ahead will be just like pouring gasoline on a fire — excuse the pun.

Gas prices jumped over 9% in the past month and they’re not expected to slow down anytime soon.

 

Gas prices are up 22.5% from the previous year and were the biggest contributor to an overall increase in goods and services in the nation, according to the US Bureau of Labor Statistics’ Consumer Price Index. Fuel prices pushed a 1-month increase in the overall price of goods for March that was the highest in nearly 9 years.

 

A recent government report shows gas prices are expected to climb to a three-year high this summer. Prices at the pump will average $2.78 per gallon — up 34% from 2020 — in the next six months, according to the Energy Information Administration (EIA).

 

But the rising prices for food are being driven not just by increased production costs or cutbacks in farm activity.  A big part of the upward pressure on price is the increased presence of one particular country in the world market with plenty of money to spend — China.

 

The most recent crop spikes follow months of price gains fueled by booming import demand from China. Corn prices have doubled in the past year, while soybeans are up about 80% and wheat 30%. With China’s purchases continuing and a spate of adverse weather conditions threatening crops in Brazil and the U.S., there are few signs of respite. Analysts including those at Rabobank, Mintec and HSBC Global Research all see a risk of even higher prices as a result, though it will vary across markets.

 

“Generally people see this inflation continuing,” said Tosin Jack, an analyst at Mintec, which monitors commodity prices. “The trend will continue for some time and it will translate into consumer goods.”

 

Americans have been able to survive financially for the better part of a year due, to some degree, to a government-provided bubble. Various COVID-19 relief and stimulus programs, combined with such market-altering policies as eviction and foreclosure moratoriums, have sheltered Americans from some of the harsher financial realities of the economic shutdown.

 

But those costs are going to come due soon for many.  It is beginning to look like a triple whammy is about to be visited on American consumers — higher food costs, higher energy prices, and a day of reckoning in having to deal with financial pain that has been only delayed, not eliminated, resulting from the economic shutdown.

 

https://www.bloomberg.com/news/articles/2021-04-24/the-grocery-food-price-bill-is-going-to-get-more-expensive

 

https://www.businessinsider.com/gas-prices-skyrocketing-in-us-expected-increase-further-summer-2021-4?op=1

 

https://redstate.com/shipwreckedcrew/2021/04/26/food-prices-are-about-to-soar-right-alongside-gas-and-electricity-costs-n369051

 

 

 

Good news for farmers...until it isn't and the prices falls again 

[Tiberius]

13 minutes ago, RochesterRob said:

  I think that Tiberius would do well shoveling chit on a WNY dairy farm (for the ones that are still left).

i don't need to. My mom owns a beef farm in Tennessee. I don't need a job like that, I have a better one. 

 

You could shovel the chit. 

[Chef Jim]

1 minute ago, RochesterRob said:

  I think that Tiberius would do well shoveling chit on a WNY dairy farm (for the ones that are still left).

 

I grew up in Genesee county.  I had plenty of classmates who showed up to school smelling like horse sh*t.   LOL 

[RochesterRob]

13 minutes ago, Tiberius said:

i don't need to. My mom owns a beef farm in Tennessee. I don't need a job like that, I have a better one. 

 

You could shovel the chit. 

  All work is honorable and I would use a skid steer loader.  You?  

[Chef Jim]

14 minutes ago, Tiberius said:

i don't need to. My mom owns a beef farm in Tennessee. I don't need a job like that, I have a better one. 

 

You could shovel the chit. 

 

Ahh the old lefty elitist "I'm better than that" mantra.  

 

So what's going to happen to mom's farm when beef is taxed to death by the green movement?

 

And seriously dude I'd like to hear more about her farm.   It's noble work and I'm always looking for sources of good meat!  

[Tiberius]

57 minutes ago, RochesterRob said:

  All work is honorable and I would use a skid steer loader.  You?  

All work may be honorable, but that doesn’t mean it’s fulfilling or enviable. 
 

I wouldn’t use anything. I won’t shovel chit 

[Chef Jim]

2 minutes ago, Tiberius said:

All work may be honorable, but that doesn’t mean it’s fulfilling or enviable. 
 

I wouldn’t use anything. I won’t shovel chit 

 

Ahh the liberal elitist strikes again.  "I'm above menial labor."   

 

[B-Man]

5 minutes ago, Tiberius said:

 I won’t shovel chit 

 

 

[All_Pro_Bills]

1 minute ago, Chef Jim said:

 

Ahh the liberal elitist strikes again.  "I'm above menial labor."   

 

That's the Achilles Heel of the intellectual, academic, and coastal elitist left.  Their existence depends on the very people they despise.  People that have provide sector jobs and businesses that produce real goods and services.  At some point the "deporables" will figure it out, stop supporting them, and let them fend for themselves and watch them starve to death in their Utopian communities.  And at that point problem solved..

[RochesterRob]

16 minutes ago, Tiberius said:

All work may be honorable, but that doesn’t mean it’s fulfilling or enviable. 
 

I wouldn’t use anything. I won’t shovel chit 

  You shovel chit a vast majority of the time while on this board.  The cow manure smell would be less offensive.  If the economy jumps the tracks at some point in the near future due to all the screwing around from COVID things might reduce down to basic functions like growing vegetables and cutting wood.  Surely, you learned that manure is good for growing most vegetables (tomatoes like very minimal nitrates).  

[BillStime]

👆 More whining Rob...

 

Meanwhile:

 

 

[RochesterRob]

9 minutes ago, All_Pro_Bills said:

That's the Achilles Heel of the intellectual, academic, and coastal elitist left.  Their existence depends on the very people they despise.  People that have provide sector jobs and businesses that produce real goods and services.  At some point the "deporables" will figure it out, stop supporting them, and let them fend for themselves and watch them starve to death in their Utopian communities.  And at that point problem solved..

   As the economy implodes the liberals will have the choice to adapt to the standards of their ancestors or perish.  

[Tiberius]

18 minutes ago, B-Man said:

 

 

Was the election stolen? 

 

Funny, you would be attracted to a post about chit. Like a fly 

7 minutes ago, RochesterRob said:

  You shovel chit a vast majority of the time while on this board.  The cow manure smell would be less offensive.  If the economy jumps the tracks at some point in the near future due to all the screwing around from COVID things might reduce down to basic functions like growing vegetables and cutting wood.  Surely, you learned that manure is good for growing most vegetables (tomatoes like very minimal nitrates).  

I have a good job, no need 

[RochesterRob]

6 minutes ago, BillStime said:

👆 More whining Rob...

 

Meanwhile:

 

 

  It won't matter as certain sectors of the economy are very wobbly.  I'm waiting for a tree service because he can't get parts for a key piece of equipment.  The supply chain in agriculture is fractured.  Another poor crop year will only hike commodity prices.  Things are far far from being alright if somebody is willing to come down to the ground level from their ivory tower.

6 minutes ago, Tiberius said:

Was the election stolen? 

 

Funny, you would be attracted to a post about chit. Like a fly 

I have a good job, no need 

  It never hurts to have a backup plan.  Where do I leave your canned goods that you will need this winter?

[Tiberius]

3 minutes ago, RochesterRob said:

  It won't matter as certain sectors of the economy are very wobbly.  I'm waiting for a tree service because he can't get parts for a key piece of equipment.  The supply chain in agriculture is fractured.  Another poor crop year will only hike commodity prices.  Things are far far from being alright if somebody is willing to come down to the ground level from their ivory tower.

  It never hurts to have a backup plan.  Where do I leave your canned goods that you will need this winter?

Why will I need canned goods? 

 

I think you are VERY typical of the Trump voter. You guys make up things and then think they are true. That's why I am glad you were defeated. You guys are not fit 

[RochesterRob]

3 minutes ago, Tiberius said:

Why will I need canned goods? 

 

I think you are VERY typical of the Trump voter. You guys make up things and then think they are true. That's why I am glad you were defeated. You guys are not fit 

  Because of no matter how cheap your salary is your employer will no longer be able to afford you.  It will not be just you but many many people across the globe.  It's going to be a domino effect.  Parts to service vehicles such as pickup trucks are very very scarce.  Many people depend on a pickup truck for their business and cannot afford to be without one.  They will not be able to pay planned income taxes because their revenue will be greatly reduced.  Reduced revenue intake will create layoffs fro government workers.  You can't out run this.  Come down from your elitist tower and look at what is going on.  

[Tiberius]

1 hour ago, RochesterRob said:

  Because of no matter how cheap your salary is your employer will no longer be able to afford you.  It will not be just you but many many people across the globe.  It's going to be a domino effect.  Parts to service vehicles such as pickup trucks are very very scarce.  Many people depend on a pickup truck for their business and cannot afford to be without one.  They will not be able to pay planned income taxes because their revenue will be greatly reduced.  Reduced revenue intake will create layoffs fro government workers.  You can't out run this.  Come down from your elitist tower and look at what is going on.  

No, I’ll be fine. It’s great being smart. Sure helps in earning wealth  

[Tenhigh]

1 hour ago, Tiberius said:

Why will I need canned goods? 

 

I think you are VERY typical of the Trump voter. You guys make up things and then think they are true. That's why I am glad you were defeated. You guys are not fit 

Not fit for what?

[RochesterRob]

6 minutes ago, Tiberius said:

No, I’ll be fine. It’s great being smart. Sure helps in earning wealth  

  Wealth can be fleeting and we are overdue for our periodic reminder as a country.  Even in WNY fortunes have come and gone over generations.  I can remember people old enough to remember families that made money supplying the Union Forces during the American Civil War here in WNY.  The only legacy left for nearly all when I was a kid was a brick two story home in need of extensive repair and had boarders as few could afford to own such a structure by ordinary means.  I'm afraid that many Americans will not like the near coming future.  Time is the great equalizer among men.  

[Chef Jim]

1 hour ago, Tiberius said:

Why will I need canned goods? 

 

I think you are VERY typical of the Trump voter. You guys make up things and then think they are true. That's why I am glad you were defeated. You guys are not fit 

 

Not fit for?  

@Tenhigh Sorry missed your same question.   FYI don't expect any reply from him. 

Edited April 26, 2021 by Chef Jim

[Chef Jim]

 

23 minutes ago, Tiberius said:

No, I’ll be fine. It’s great being smart. Sure helps in earning wealth  

 

The word you meant was intelligent.  But if you were intelligent you'd know that. 

[Tiberius]

27 minutes ago, Tenhigh said:

Not fit for what?

To govern 

27 minutes ago, RochesterRob said:

  Wealth can be fleeting and we are overdue for our periodic reminder as a country.  Even in WNY fortunes have come and gone over generations.  I can remember people old enough to remember families that made money supplying the Union Forces during the American Civil War here in WNY.  The only legacy left for nearly all when I was a kid was a brick two story home in need of extensive repair and had boarders as few could afford to own such a structure by ordinary means.  I'm afraid that many Americans will not like the near coming future.  Time is the great equalizer among men.  

I’ll be fine. 

[Chef Jim]

15 minutes ago, Tiberius said:

To govern 

 

 

Then why did you use the words "you guys"?  

[Unforgiven]

Biden confronts his face diaper.

 

[daz28]

11 minutes ago, Unforgiven said:

Biden confronts his face diaper.

 

That's fine with me as long as I don't have to hear or see what Trump is confronting anymore.  They'll just wheel him around for election cycles to bully your representatives into doing his bidding rather than that of their constituents.  

[Doc]

3 hours ago, BillStime said:

👆 More whining Rob...

 

Meanwhile:

 

 

 

Just wait until the capital gains tax increase gets passed. 

[daz28]

2 minutes ago, Doc said:

 

Just wait until the capital gains tax increase gets passed. 

Do you think that Wall Street waits until something happens to figure it in??  If the tax increase is a near certainty it's already figured in somewhat.  I do love the "just wait till..."  mentality though.  it's strong here.  Where's the anyday now report that was gonna put Hillary, Obama and the deep state in prison????  Did Biden's DOJ supress it or was it the Trump DOJ that did that??????

[Doc]

49 minutes ago, daz28 said:

Do you think that Wall Street waits until something happens to figure it in??  If the tax increase is a near certainty it's already figured in somewhat.  I do love the "just wait till..."  mentality though.  it's strong here.  Where's the anyday now report that was gonna put Hillary, Obama and the deep state in prison????  Did Biden's DOJ supress it or was it the Trump DOJ that did that??????

 

It's with the "Trump will be in prison."  Remember that? 

 

And we'll see about Wall Street "figuring-in" the capital gains increase.  I hope you're right.

Edited April 26, 2021 by Doc

[Chef Jim]

51 minutes ago, daz28 said:

Do you think that Wall Street waits until something happens to figure it in??  If the tax increase is a near certainty it's already figured in somewhat.  I do love the "just wait till..."  mentality though.  it's strong here.  Where's the anyday now report that was gonna put Hillary, Obama and the deep state in prison????  Did Biden's DOJ supress it or was it the Trump DOJ that did that??????

 

What are you babbling about?  What will WS be "figuring in" regarding an increase in Capital Gains tax?  

[SoCal Deek]

4 hours ago, Tiberius said:

 

I have a good job, no need 

Tibs...since you mentioned it, I have to ask. What’s this good job you have? I’ve always been curious. 

[daz28]

9 minutes ago, Doc said:

 

It's with the "Trump will be in prison."  Remember that? 

 

And we'll see about Wall Street "figuring-in" the capital gains increase.  I hope you're right.

Well, it is more likely someone who IS being investigated is going to prison than him just claiming they would be.  

 

Also, I hope I'm right, too.  I've been holding on to some stuff forever, and this might be a good time to cash it out.  It would be just my luck that I(of modest means) get caught in the wide net cast for the big fish. 

7 minutes ago, Chef Jim said:

 

What are you babbling about?  What will WS be "figuring in" regarding an increase in Capital Gains tax?  

Biden mentioned raising capital gains taxes(ie stocks).  I wasn't babbling.