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

[ALF]

Here's what's getting more expensive  (and why )

 

The supply chain was crushed due to covid and a strange chicken story beside plant workers getting sick.

 

The meat processor, which sells poultry along with beef and pork, said that its chicken volumes have been low in part because the roosters it uses for breeding are not meeting expectations.

 

https://www.cnn.com/2021/05/15/business/supply-chain-price-increases/index.html

 

[SCBills]

2 hours ago, ALF said:

Here's what's getting more expensive  (and why )

 

The supply chain was crushed due to covid and a strange chicken story beside plant workers getting sick.

 

The meat processor, which sells poultry along with beef and pork, said that its chicken volumes have been low in part because the roosters it uses for breeding are not meeting expectations.

 

https://www.cnn.com/2021/05/15/business/supply-chain-price-increases/index.html

 

If anyone is being honest, they know this isn’t all Biden’s fault.   That said, his policies have not been helpful, and he was elected as the guy to get us out of this.  
 

He’ll have to deal with getting blamed for stuff that isn’t inherently his fault, just like Trump was sunk by the media shaping COVID narrative as blue states led the way in death rate and unemployment and teachers unions screwed over our nations kids. 
 

Biden may be annoyingly over-cautious now, but perhaps we would be better served to have the two presidencies flipped, as we could’ve done with more of his rhetoric and cautiousness last year, and Trump’s arrogant confidence now. 
 

Edited May 16, 2021 by SCBills

[SoCal Deek]

21 hours ago, Chef Jim said:

 

Good Lord.  I'm a non-believer and have not been to church in forever and even I know it was in April.  

 

That's ***** embarrassing.  

Always one of my favorite trivia questions:

Do you know what day Easter Sunday is? It changes every year. 

[Doc]

25 minutes ago, SCBills said:

If anyone is being honest, they know this isn’t all Biden’s fault.   That said, his policies have not been helpful, and he was elected as the guy to get us out of this.  
 

He’ll have to deal with getting blamed for stuff that isn’t inherently his fault, just like Trump was sunk by the media shaping COVID narrative as blue states led the way in death rate and unemployment and teachers unions screwed over our nations kids. 
 

Biden may be annoyingly over-cautious now, but perhaps we would be better served to have the two presidencies flipped, as we could’ve done with more of his rhetoric and cautiousness last year, and Trump’s arrogant confidence now. 
 

“The buck...”

[B-Man]

[Unforgiven]

9 hours ago, SCBills said:

If anyone is being honest, they know this isn’t all Biden’s fault.   That said, his policies have not been helpful, and he was elected as the guy to get us out of this.  
 

He’ll have to deal with getting blamed for stuff that isn’t inherently his fault, just like Trump was sunk by the media shaping COVID narrative as blue states led the way in death rate and unemployment and teachers unions screwed over our nations kids. 
 

Biden may be annoyingly over-cautious now, but perhaps we would be better served to have the two presidencies flipped, as we could’ve done with more of his rhetoric and cautiousness last year, and Trump’s arrogant confidence now. 
 

The whole administration is weak. That said too damned bad...

MSM hacks went on and on and blamed trump for everything

every day for four years.

[B-Man]

https://www.foxnews.com/us/hunter-biden-nashville

 

YOU NEVER WANT TO GET AS HIGH AS HUNTER: 

 

Nashville gas station trolls Hunter Biden: ‘Hope gas prices don’t get too high.’

 

[B-Man]

[SCBills]

Drove from Greenville, SC to Atlanta today.   
 

Still sporadic gas stations completely out.  Every gas station has some pumps out.  Every gas station has only regular.  
 

Better than this past week where the 3 gas stations by my office were all completely out since Tuesday.  

[Governor]

42 minutes ago, SCBills said:

Drove from Greenville, SC to Atlanta today.   
 

Still sporadic gas stations completely out.  Every gas station has some pumps out.  Every gas station has only regular.  
 

Better than this past week where the 3 gas stations by my office were all completely out since Tuesday.  

You should get yourself a little Honda Ruckus. I had one when I lived there. At times, I got around quicker on that thing than a car.

[daz28]

Blaming both parties, Trump and Biden for the worker shortage.  Blame the Republicans the least, and maybe Trump the most, because he was the one insisting Mitch not be Mitch, and just send out checks and bonuses, extensions without making sure it goes to creditors before people wasted it on big screens, leaving their landlord dry.  Pissed Biden said he didn't think it is effecting hiring.  That's a huge disconnect, but I understand why he's not stopping all unemployment, because it would leave some families out in the cold.  That's what sucks about the new society is that to feed families, you also have to feed the leaches.  Needs more reform.

[Doc]

12 hours ago, SCBills said:

Drove from Greenville, SC to Atlanta today.   
 

Still sporadic gas stations completely out.  Every gas station has some pumps out.  Every gas station has only regular.  
 

Better than this past week where the 3 gas stations by my office were all completely out since Tuesday.  

 

Drove from Hartford, CT to Williamsburg, VA over the weekend.  Filled-up at the Biden Welcome Center in DE just to be sure and got to Williamsburg were the gas station I went to (7-11) had only regular left.  Filled-up when we got there and then again at Biden Center on the way back.

[B-Man]

Monday.

 

Biden White House called a lid today at 1:48 p.m.

 

 

 

https://twitchy.com/dougp-3137/2021/05/17/katie-pavlich-notes-that-the-biden-white-house-called-a-lid-today-at-148-p-m/

[B-Man]

 

 

The Biden Honeymoon is Definitely Over

by John Green

 

Joe Biden has had his 100-day honeymoon. People were bound to start complaining eventually. But then something at the gas station caught my attention. As I was filling my car, I noticed that someone had put a sticky note on the gas pump. It read, “Prices Compliments of Joe Biden.” When I told a friend about it, he commented that those notes have been appearing around town.

(snip)

On my 15-minute drive home I saw two pickup trucks proudly flying “F*** Biden” flags. Yup, something’s definitely different this time.

 

https://www.americanthinker.com/articles/2021/05/the_biden_honeymoon_is_definitely_over.html

 

 

 

Edited May 20, 2021 by B-Man

[B-Man]

 

 

Biden-friendly economist undercuts Democrats claims about what is holding back recovery

 

https://hotair.com/john-s-2/2021/05/22/biden-friendly-economist-undercuts-democrats-claims-about-what-is-holding-back-recovery-n391910

[Gene Frenkle]

 

The stock market is extremely overleveraged, historically so. Crypto has lost more than $1 trillion in May alone. Banks and market makers are in seriously bad positions because of systemic, repeated naked short selling of stocks and even US bonds. Real collateral no longer compensates for what they've borrowed. The market is going to crash, but not because of who's in the White House. That's a simpleton's view.

 

 

 

 

 

[Doc]

43 minutes ago, Gene Frenkle said:

 

The stock market is extremely overleveraged, historically so. Crypto has lost more than $1 trillion in May alone. Banks and market makers are in seriously bad positions because of systemic, repeated naked short selling of stocks and even US bonds. Real collateral no longer compensates for what they've borrowed. The market is going to crash, but not because of who's in the White House. That's a simpleton's view.

 

It won't matter come 2022 and 2024...

[Gene Frenkle]

1 hour ago, Doc said:

 

It won't matter come 2022 and 2024...

 

Does 2008 still matter today?

[Doc]

1 minute ago, Gene Frenkle said:

Does 2008 still matter today?

 

No.   Why would it?

[Gene Frenkle]

Just now, Doc said:

 

No.   Why would it?

 

Because the same thing keeps happening over and over.

 

And a lot of innocent people lost their homes and savings in 2008 and are still recovering. Obviously not you I see.

[Doc]

1 minute ago, Gene Frenkle said:

Because the same thing keeps happening over and over.

 

What thing?  Mid-term losses by the party that has the Presidency?  Yes, I agree. 

[TH3]

2 minutes ago, Gene Frenkle said:

 

Because the same thing keeps happening over and over.

 

And a lot of innocent people lost their homes and savings in 2008 and are still recovering. Obviously not you I see.

2000 is not 2008 is not 2021...

You only lose what wasn’t really there in the first place

[All_Pro_Bills]

2 hours ago, Gene Frenkle said:

 

The stock market is extremely overleveraged, historically so. Crypto has lost more than $1 trillion in May alone. Banks and market makers are in seriously bad positions because of systemic, repeated naked short selling of stocks and even US bonds. Real collateral no longer compensates for what they've borrowed. The market is going to crash, but not because of who's in the White House. That's a simpleton's view.

 

 

 

 

 

Absolutely.  This is the 3rd speculative frenzy I've witnessed the first two being the dot.com and housing bubbles.  I got killed in the first one, partially escaped the second in pretty good share, and have myself in a position to avoid most of the pain of what's coming.  

This time it's a speculative frenzy of everything and almost every asset class and type courtesy of the Federal Reserves monetary policies.  Throw in uncontrolled government debt.  3rd times a charm I guess.  While the markets are overleveraged and overvalued it won't be a realization or reaction to those two factors that brings it down.  Everybody already knows both those things but everyone thinks they can jump off just at the right time to avoid any big losses.  That thinking never changes but rarely works out well.  You can chalk it all up to the suspension of risk or the inability of markets to assess and price risk correctly.  What triggers the crisis will be something that comes as a surprise.  A Black Swan event is one term used to describe that type of event.  Could be something like a COVID resurgence in the Fall, the outbreak of war somewhere, the termination of dollar denominating settlement for oil trades, or something else.

Biden didn't create this mess and it was going to come to a climax sometime 2021-2022 no matter who won the election but like all Presidents before him he'll get the blame.  And if it happens close enough to the 2022 election and negatively impacts the "real" economy in a big way and you can be sure the far-left "experiment" in government and all the social justice causes and virtue signaling attached to it are going to come to a crashing end.

I've always concluded the Democrats should have let Trump win and let him take the fall.  But their obsession to remove him through any means possible regardless of any consequences or costs couldn't be controlled.  They are what people in the markets call "Bagholders".  The people that end of holding and taking big losses.  In this case left holding the bag of running the government when everything goes to Hell.  

[TH3]

24 minutes ago, All_Pro_Bills said:

Absolutely.  This is the 3rd speculative frenzy I've witnessed the first two being the dot.com and housing bubbles.  I got killed in the first one, partially escaped the second in pretty good share, and have myself in a position to avoid most of the pain of what's coming.  

This time it's a speculative frenzy of everything and almost every asset class and type courtesy of the Federal Reserves monetary policies.  Throw in uncontrolled government debt.  3rd times a charm I guess.  While the markets are overleveraged and overvalued it won't be a realization or reaction to those two factors that brings it down.  Everybody already knows both those things but everyone thinks they can jump off just at the right time to avoid any big losses.  That thinking never changes but rarely works out well.  You can chalk it all up to the suspension of risk or the inability of markets to assess and price risk correctly.  What triggers the crisis will be something that comes as a surprise.  A Black Swan event is one term used to describe that type of event.  Could be something like a COVID resurgence in the Fall, the outbreak of war somewhere, the termination of dollar denominating settlement for oil trades, or something else.

Biden didn't create this mess and it was going to come to a climax sometime 2021-2022 no matter who won the election but like all Presidents before him he'll get the blame.  And if it happens close enough to the 2022 election and negatively impacts the "real" economy in a big way and you can be sure the far-left "experiment" in government and all the social justice causes and virtue signaling attached to it are going to come to a crashing end.

I've always concluded the Democrats should have let Trump win and let him take the fall.  But their obsession to remove him through any means possible regardless of any consequences or costs couldn't be controlled.  They are what people in the markets call "Bagholders".  The people that end of holding and taking big losses.  In this case left holding the bag of running the government when everything goes to Hell.  

What’s a crash ? Dow 20k?

[All_Pro_Bills]

6 minutes ago, TH3 said:

What’s a crash ? Dow 20k?

That's about 40% downside.  I think most investors would consider something near a 40% drop in their equity portfolio value to be a crash.  But don't just focus on equity markets.  We need to watch debt markets and currencies too.  I mean what would even a 2% rise in interest rates do to the housing and debt markets?  What are the consequences of interest payments taking up 1/3 of US Federal budgets?  If the dollar suddenly losses purchasing power what implications does that have for a country that imports much of what it consumes?    

[Gene Frenkle]

1 hour ago, All_Pro_Bills said:

Absolutely.  This is the 3rd speculative frenzy I've witnessed the first two being the dot.com and housing bubbles.  I got killed in the first one, partially escaped the second in pretty good share, and have myself in a position to avoid most of the pain of what's coming.  

This time it's a speculative frenzy of everything and almost every asset class and type courtesy of the Federal Reserves monetary policies.  Throw in uncontrolled government debt.  3rd times a charm I guess.  While the markets are overleveraged and overvalued it won't be a realization or reaction to those two factors that brings it down.  Everybody already knows both those things but everyone thinks they can jump off just at the right time to avoid any big losses.  That thinking never changes but rarely works out well.  You can chalk it all up to the suspension of risk or the inability of markets to assess and price risk correctly.  What triggers the crisis will be something that comes as a surprise.  A Black Swan event is one term used to describe that type of event.  Could be something like a COVID resurgence in the Fall, the outbreak of war somewhere, the termination of dollar denominating settlement for oil trades, or something else.

Biden didn't create this mess and it was going to come to a climax sometime 2021-2022 no matter who won the election but like all Presidents before him he'll get the blame.  And if it happens close enough to the 2022 election and negatively impacts the "real" economy in a big way and you can be sure the far-left "experiment" in government and all the social justice causes and virtue signaling attached to it are going to come to a crashing end.

I've always concluded the Democrats should have let Trump win and let him take the fall.  But their obsession to remove him through any means possible regardless of any consequences or costs couldn't be controlled.  They are what people in the markets call "Bagholders".  The people that end of holding and taking big losses.  In this case left holding the bag of running the government when everything goes to Hell.  

 

This guy gets it. Polarized politics will be the least of our concerns soon enough.

[Gene Frenkle]

 

@All_Pro_Bills what is your strategy for before and after the coming events, if you don't mind sharing?

2 hours ago, Doc said:

 

What thing?  Mid-term losses by the party that has the Presidency?  Yes, I agree. 

 

The fact that you think there's still a difference between these greedy bastards says a lot.

[Doc]

12 minutes ago, Gene Frenkle said:

The fact that you think there's still a difference between these greedy bastards says a lot.

 

I've never not said that they're not all greedy bastards.  But there are differences beyond that.

[Gene Frenkle]

1 hour ago, Doc said:

 

I've never not said that they're not all greedy bastards.  But there are differences beyond that.

 

Well, there's certainly a difference in the two narratives we're being fed.  If they generally don't do what they say anyway, what are those differences again?

[B-Man]

https://hotair.com/ed-morrissey/2021/05/27/biden-hey-lets-jack-up-annual-spending-by-20-or-so-n392913

 

 

Biden: Hey, let's jack up annual spending by 20% or so

 

 

FTA:  

 

As I argued, this budget has no chance at all of passing in Congress. However, it shifts the Overton window on deficit spending yet again in the money-printing direction. Our fiscal policies have become completely unmoored from reality, and this budget proposal is only the more extreme example of our irresponsibility.

 

 

[B-Man]

The former chairman of the Council of Economic Advisers under the Obama administration reports that almost all of the economists he has surveyed believe the ‘American Rescue Plan’ rammed through by Democrats was “too large.”

 

 

 

[BillStime]

18 minutes ago, B-Man said:

The former chairman of the Council of Economic Advisers under the Obama administration reports that almost all of the economists he has surveyed believe the ‘American Rescue Plan’ rammed through by Democrats was “too large.”

 

 

 

Just like Trumps tax cut to the rich?

 

[B-Man]

The great restaurant price hike: Eateries across the country are raising prices after soaring inflation sees ingredients costs DOUBLE in just one year

by Bevan Hurley

https://www.dailymail.co.uk/news/article-9634229/Eateries-country-raising-prices-soaring-inflation-sees-ingredients-costs-triple.html

 

 

A New Hampshire restaurateur has apologized to customers for putting prices up after the cost of basic items like oil, meat and gloves rose by as much as 300%. Alan Natkiel, the owner of Georgia's Northside in Concord, says the price of brisket has gone up 185%, chicken breast is up 70%, and fryer oil costs have doubled in the past three months, while plastic gloves were three times as expensive as pre-pandemic prices. [SNIP] Natkiel says the surge in prices has even forced him to stop serving chicken wings as a national shortage has made them so pricey they were no longer commercially viable.

Edited May 31, 2021 by B-Man

[Doc]

3 minutes ago, B-Man said:

The great restaurant price hike: Eateries across the country are raising prices after soaring inflation sees ingredients costs DOUBLE in just one year

by Bevan Hurley

https://www.dailymail.co.uk/news/article-9634229/Eateries-country-raising-prices-soaring-inflation-sees-ingredients-costs-triple.html

 

 

A New Hampshire restaurateur has apologized to customers for putting prices up after the cost of basic items like oil, meat and gloves rose by as much as 300%. Alan Natkiel, the owner of Georgia's Northside in Concord, says the price of brisket has gone up 185%, chicken breast is up 70%, and fryer oil costs have doubled in the past three months, while plastic gloves were three times as expensive as pre-pandemic prices. [SNIP] Natkiel says the surge in prices has even forced him to stop serving chicken wings as a national shortage has made them so pricey they were no longer commercially viable.

 

Makes you wonder why they're trying to exhume the corpse of 1/6 again...

[Unforgiven]

13 hours ago, Doc said:

 

Makes you wonder why they're trying to exhume the corpse of 1/6 again...

fear porn, they have lost their grip with covid, lefties just can't stop preying on the weak

[aristocrat]

 

[B-Man]

 

[B-Man]

 

OUR GARBAGE MEDIA STRIKES AGAIN

 

CBS News is out today with a story about those cruel, heartless Republican governors who are cutting off the supplemental unemployment benefits of $300 a week that pay more to many workers than actual jobs.

 

https://www.powerlineblog.com/archives/2021/06/our-garbage-media-strikes-again.php

 

 

[Doc]

4 hours ago, B-Man said:

OUR GARBAGE MEDIA STRIKES AGAIN

 

CBS News is out today with a story about those cruel, heartless Republican governors who are cutting off the supplemental unemployment benefits of $300 a week that pay more to many workers than actual jobs.

 

https://www.powerlineblog.com/archives/2021/06/our-garbage-media-strikes-again.php

 

They should pay these morons not to work.  We'd all be better off.

[B-Man]

 

 

THAT ’70S SHOW: 

 

Friday’s Jobs Report May Blow Up Biden’s Presidency.

 

 

https://pjmedia.com/uncategorized/rick-moran/2021/06/02/fridays-jobs-report-may-blow-up-bidens-presidency-n1451467