Biden creates an economic crisis--Unemployment, Inflation, risk of STAGLFATION increasing

[Over 29 years of fanhood]

People who are worried about the graph of the earth’s temperature and how it leads to the collapse of civilization should take a look at and understand this inflation graph.  This isn’t just a mess it’s a full blown catastrophe.  Everyone aside from the elites and those living well below their means are in for years of drastic lifestyle decline.  Fixed income Retirees are completely *****. 
 

https://www.wsj.com/articles/us-inflation-august-2022-consumer-price-index-11663017630

[Tiberius]

3 minutes ago, Over 29 years of fanhood said:

People who are worried about the graph of the earth’s temperature and how it leads to the collapse of civilization should take a look at and understand this inflation graph.  This isn’t just a mess it’s a full blown catastrophe.  Everyone aside from the elites and those living well below their means are in for years of drastic lifestyle decline.  Fixed income Retirees are completely *****. 
 

https://www.wsj.com/articles/us-inflation-august-2022-consumer-price-index-11663017630

What should be done to combat inflation? 

[SoCal Deek]

12 minutes ago, Tiberius said:

What should be done to combat inflation? 

Obvious and simple answer: stop flooding the market with newly printed fantasy money. 

[Tiberius]

7 minutes ago, SoCal Deek said:

Obvious and simple answer: stop flooding the market with newly printed fantasy money. 

Fantasy money? What's that? 

[Tiberius]

Is it imaginary money? 

 

How would cutting money supply increase supply of food, gas and other raw materials ?

[B-Man]

 

 

Mortgage demand from homebuyers falls 29% since last year, as interest rates surge past 6%.

 

 

https://www.cnbc.com/2022/09/14/mortgage-demand-declines-29percent-from-last-year-as-rates-eclipse-6percent.html

 

 

 

.

[SoCal Deek]

1 minute ago, Tiberius said:

Is it imaginary money? 

 

How would cutting money supply increase supply of food, gas and other raw materials ?

Yes, it is imaginary money. In reality, all money is imaginary. Inflation does not mean that the things you buy are suddenly more valuable. Inflation means that the money you have in your wallet  is less valuable. 

[Tiberius]

5 minutes ago, SoCal Deek said:

Yes, it is imaginary money. In reality, all money is imaginary. Inflation does not mean that the things you buy are suddenly more valuable. Inflation means that the money you have in your wallet  is less valuable. 

Money is not imaginary, it is abstract, which means it's real, but it represents something else, like goods and services. 

 

But this inflation is supply side driven, meaning the bottle necks in transportation and manufacturing are creating shortages driving up prices 

[SoCal Deek]

1 minute ago, Tiberius said:

Money is not imaginary, it is abstract, which means it's real, but it represents something else, like goods and services. 

 

But this inflation is supply side driven, meaning the bottle necks in transportation and manufacturing are creating shortages driving up prices 

That’s part of it for sure. So when that happens how does it make sense for the government to print trillions of additional dollars? Answer: it doesn’t. It makes the problem worse. 

[dpberr]

15 hours ago, B-Man said:

 

 

 

In a few days grocery stores will begin pricing in the inflation for the last quarter.  That wave of sticker shock will hit just in time for holiday baking.  Anything made of flour is going to be noticeably more expensive.  Flour is up 23% YoY.  Cereal, 17%.  Bread, 16%.  I've seen the shelves bare in my area of things like bread and I had no idea why people are hoarding it - and now I know why.  

   

[Tiberius]

1 minute ago, SoCal Deek said:

That’s part of it for sure. So when that happens how does it make sense for the government to print trillions of additional dollars? Answer: it doesn’t. It makes the problem worse. 

You know they are raising rates, right? That is slowing the money supply. 

 

Trying for a soft landing on this. No need to pull the plug too quickly and cause economic pain the GOP can seize upon to promote fascism, so we go slow 

[Chef Jim]

6 minutes ago, Tiberius said:

Money is not imaginary, it is abstract, which means it's real, but it represents something else, like goods and services. 

 

But this inflation is supply side driven, meaning the bottle necks in transportation and manufacturing are creating shortages driving up prices 

So if this a supply side driven issue and not a deficit issue how is IRA going to WIN? 

[SoCal Deek]

4 minutes ago, Chef Jim said:

So if this a supply side driven issue and not a deficit issue how is IRA going to WIN? 

Go right on ahead ignoring the Biden Administration’s fiscal policies. It’s clearly working. 😂😂😂

[Over 29 years of fanhood]

2 hours ago, Chef Jim said:

So if this a supply side driven issue and not a deficit issue how is IRA going to WIN? 

 
Bu replacing cheap available and economically viable fossil fuels with expensive unreliable green energy??

 

🤷‍♂️ 😂 

[Over 29 years of fanhood]

3 hours ago, Tiberius said:

What should be done to combat inflation? 

(1) Stop dumping trillions of additional dollars into and already inflationary environment

 

(2) remove constraints on energy production and stop pretending climate change is done immediate existential threat 

 

(3) stop spending all the government’s focus and resources on BS divisive social agendas and get to work on geopolitical disruptions and trade barriers

 

(4) flooding the market with cheap energy would kill Russia, instead horrendous policy has fill their war machines coffers with money. 
 

 

[Tiberius]

39 minutes ago, Over 29 years of fanhood said:

(1) Stop dumping trillions of additional dollars into and already inflationary environment

 

(2) remove constraints on energy production and stop pretending climate change is done immediate existential threat 

 

(3) stop spending all the government’s focus and resources on BS divisive social agendas and get to work on geopolitical disruptions and trade barriers

 

(4) flooding the market with cheap energy would kill Russia, instead horrendous policy has fill their war machines coffers with money. 
 

 

1) What part of government should be cut? 

 

2) Should local communities not be able to block a massive, dirty fracking operation in their back yards? 

 

3) Like abortion? Social Conservatives have taken over GOP 

 

4) Sure, until the prices collapse and they lose all that money they invested in drilling 

[SoCal Deek]

4 hours ago, Tiberius said:

You know they are raising rates, right? That is slowing the money supply. 

 

Trying for a soft landing on this. No need to pull the plug too quickly and cause economic pain the GOP can seize upon to promote fascism, so we go slow 

Unfortunately the ‘they’ in your sentence is the independent Federal Reserve, not the Biden Administration. So in effect we’re stuck in a tug of war between the two. Biden has both feet on the gas pedal and the Fed is pulling the emergency brake. That’s a recipe for blowing up the engine. 

[Over 29 years of fanhood]

2 hours ago, Tiberius said:

1) What part of government should be cut? 

 

2) Should local communities not be able to block a massive, dirty fracking operation in their back yards? 

 

3) Like abortion? Social Conservatives have taken over GOP 

 

4) Sure, until the prices collapse and they lose all that money they invested in drilling 

ok you don’t like my ideas what are yours? 

[Tiberius]

1 minute ago, Over 29 years of fanhood said:

ok you don’t like my ideas what are yours? 

Inflation? well, ya, raise interest rates as much as you have to. Wait for supply chains to get untangled. 

 

Increase immigration so businesses have people to hire. Businesses can supply more goods and services with more workers, thus reducing prices 

[Chef Jim]

3 hours ago, Over 29 years of fanhood said:

 
Bu replacing cheap available and economically viable fossil fuels with expensive unreliable green energy??

 

🤷‍♂️ 😂 

Well the only part of this bill I see that will do anything regarding inflation reduction is pulling in more tax dollars.  That only works if they don’t sp….spen…..(so hard to type while laughing) spend it but put it towards the deficit. And even if they do put it all towards the deficit we won’t see the benefits for years. 
 

The R in IRA is synonymous with the A in ACA.  Laughable. 

26 minutes ago, Tiberius said:

Inflation? well, ya, raise interest rates as much as you have to. Wait for supply chains to get untangled. 

 

Increase immigration so businesses have people to hire. Businesses can supply more goods and services with more workers, thus reducing prices 

Why do we need immigrants for businesses to hire?  Are you advocating for slave labor to keep labor costs down to reduce inflation?  

[Over 29 years of fanhood]

51 minutes ago, Tiberius said:

Inflation? well, ya, raise interest rates as much as you have to. Wait for supply chains to get untangled. 

 

Increase immigration so businesses have people to hire. Businesses can supply more goods and services with more workers, thus reducing prices 

food and energy are the main inflationary drivers,

so rates… while hurting business and growth, killing the housing market and tanking the stock market will ultimately beat the economy into further recession eventually squeezing demand (not so great for the laid off and middle class, retired or fixed income hh… typical elitist answer ) can work if you don’t care about the little guy.  This is what the 70s and carter were all about. 

 

Immigration… Add more demand for energy and food by opening immigration into a stagnating job market (layoffs are coming Q1 and Q4, across all sectors already) and an economy in recession. So more people electrify and feed ….
 

So I see a bad choice and another inflationary contributor 

 

 

the other thing I see very starkly is if we don’t get serious about using our economic might to shut down Russia and more importantly give China some pause, we are going to be on a glide path toward some real bad things.

 

As an exceptional analysis recently put it, we are either in the 1970s headed for the 1980s or we are in the early 1900s headed for 1914

Edited September 14, 2022 by Over 29 years of fanhood

[B-Man]

 

 

Finally, some good news.

 

It was all theater to drive up the payoff anyway.

 

 

 

Biden announces tentative labor agreement to avert national rail strike

The tentative agreement averts a national rail strike that would have shut down a key part of the U.S. transportation network.

 

The new contracts provide 24% pay increases over 5 years from 2020 through 2024 and include immediate payouts averaging $11,000 upon ratification, according to the Association of American Railroads.

 

(Excerpt) Read more at cnbc.com ...

https://www.cnbc.com/2022/09/15/president-joe-biden-says-tentative-railway-labor-agreement-reached.html

 

 

 

[RiotAct]

FedEx down 19%… looks like another doozy of a day coming on the stock market.

[SoCal Deek]

6 minutes ago, RiotAct said:

FedEx down 19%… looks like another doozy of a day coming on the stock market.

That’s impossible. My next door neighbor has at least ten packages delivered every day. 😉

[B-Man]

 

 

The Bidenomics Sham Is Collapsing

Issues & Insights, by The Editorial Board

 

With red lights flashing nearly everywhere, the economy’s prospects look grim. Soaring inflation, crashing home sales, plunging GDP, falling real incomes. No question, the economy is a mess. So why is the Biden administration saying things are going better? It’s not just this week’s “unexpected” 8.3% inflation jump. Or the scary plunge in stock prices, destroying trillions of dollars in household wealth in just days. It’s that the ruling party, the Democratic Party, seems utterly oblivious to the damage it’s done. 

 

https://issuesinsights.com/2022/09/16/the-bidenomics-sham-is-collapsing/

 

 

.

[B-Man]

 

 

 

 

 

 

 

     

 

 

 

 

 

NOTHING TO SEE HERE, MOVE ALONG: 

 

Imports To Los Angeles, America’s Largest Port, Plunged 17% In August.

 

 

 

 

 

https://www.zerohedge.com/economics/imports-los-angeles-americas-largest-port-plunged-17-august

[Big Blitz]

Hope hiding from the flu to get rid of Trump was worth it

 

 

 

[Over 29 years of fanhood]

6 hours ago, Big Blitz said:

Hope hiding from the flu to get rid of Trump was worth it

 

 

 

including the massive inflation simultaneously happening it’s probably close to 50% in real dollars. But hey at least you get a subsidy for adding solar panels to that diminishing asset  

[Chef Jim]

12 hours ago, Big Blitz said:

Hope hiding from the flu to get rid of Trump was worth it

 

 

 

Would you consider inflation a huge problem in this country?

[B-Man]

 

 

God help us.

 

 

 

 

[B-Man]

 

[SoCal Deek]

Joe Biden....The King of Empathy! Unbelievably out of touch with America.  We just witnessed the funeral of a lady who was QUEEN for almost three quarters of a century, and yet she was closer to the plight of her people than this Government-born and bred disaster could ever hope to be.

[reddogblitz]

On 9/16/2022 at 7:19 AM, B-Man said:

So why is the Biden administration saying things are going better?

 

Easy. There's an election in 6 weeks.

[Chef Jim]

15 minutes ago, reddogblitz said:

 

Easy. There's an election in 6 weeks.

 

And if the GOP had any marketing skills they'd play that tone deaf interview in loop over and over and over..............

 

But they won't.  They'll just keep shipping buses north because they are tone deaf too. 

[TH3]

53 minutes ago, Chef Jim said:

 

And if the GOP had any marketing skills they'd play that tone deaf interview in loop over and over and over..............

 

But they won't.  They'll just keep shipping buses north because they are tone deaf too. 

I voted straight GOP till 2008, then they went off the rails. Dobbs, Gerrymandering, guns, CRT, Trump, WTAF. 

Fiscally conservative…socially progressive….That’s what most everyone wants….not that hard a recipe to follow….

[Chef Jim]

19 minutes ago, TH3 said:

I voted straight GOP till 2008, then they went off the rails. Dobbs, Gerrymandering, guns, CRT, Trump, WTAF. 

Fiscally conservative…socially progressive….That’s what most everyone wants….not that hard a recipe to follow….

Define socially progressive. 

[Big Blitz]

Hope it was all worth it.

 

Special place in hell for the people that let China (still not held responsible and still locking people down) destroy the planet because Trump bad.

 

 

 

Economic catastrophe is coming.  

[B-Man]

 

 

Electric Bills Soar Across the Country as Winter Looms
By Katherine Blunt and Jennifer Hiller

 

Rising natural-gas prices are expected to make it more expensive to light and heat homes in the coming months

...

U.S. electric bills have soared, and are likely to move higher .

...

U.S. utility customers, faced with some of their largest bills in years, are set to pay even more this winter as natural-gas prices continue to climb.

Natural-gas prices have more than doubled this year ..

 

https://www.wsj.com/articles/electric-bills-soar-across-the-country-as-winter-looms-11663493404

 

 

 

[B-Man]

 

 

 

 

[B-Man]

 

 

THE SPIN: US consumer spending rose in August as gas prices fell.

 

 

THE REALITY: Americans Drowning In Long-Term Credit Card Debt. 

 

“According to an Aug. 30 report from the Federal Reserve Bank of New York, credit card balances increased by $46 billion from last year, becoming the second-biggest source of overall debt last quarter.”

 

We’re spending more, getting less, and racking up unsustainable credit card balances in the process.

 

 

https://www.cnn.com/2022/09/15/economy/august-retail-sales-consumer-spending/index.html

 

https://www.zerohedge.com/personal-finance/americans-drowning-long-term-credit-card-debt-survey