B-Man Posted August 12, 2022 Share Posted August 12, 2022 Link to comment Share on other sites More sharing options...
Big Blitz Posted August 12, 2022 Share Posted August 12, 2022 1 minute ago, B-Man said: In our efforts to save this disaster of an economy, it's good to know that the most important thing, Climate Change, has just been solved. 1 1 Link to comment Share on other sites More sharing options...
Big Blitz Posted August 12, 2022 Share Posted August 12, 2022 Oh and passed on a Friday at 6pm! That's peak news dump hour. Wow 1 Link to comment Share on other sites More sharing options...
BillsFanNC Posted August 14, 2022 Share Posted August 14, 2022 1 Link to comment Share on other sites More sharing options...
Doc Posted August 14, 2022 Share Posted August 14, 2022 It's a cult. 1 Link to comment Share on other sites More sharing options...
B-Man Posted August 16, 2022 Share Posted August 16, 2022 . 1 Link to comment Share on other sites More sharing options...
The Frankish Reich Posted August 16, 2022 Share Posted August 16, 2022 On 8/12/2022 at 9:44 AM, Doc said: But, but, but...inflation was 0% last month! It was. https://www.bloomberg.com/news/articles/2022-08-11/one-chart-that-shows-inflation-really-was-0-in-july What do you mean when you say “stop inflation!” Do you mean deflating prices to where they were in July 2021? Across the board price and wage cuts? Or do you mean “stop the rise in prices so that I know that my savings or salary today won’t be worth a whole lot less next month or next year.” Prices did not increase overall from June to July, and they don’t appear to be increasing from July to now. In fact, fuel has gotten considerably cheaper. I do not make economic decisions based on what prices were a year ago. I make them based on what I expect prices to be a year from now. The year over year inflation numbers can be useful for some limited purposes. But here they are being used for shock purposes or political purposes. Link to comment Share on other sites More sharing options...
sherpa Posted August 16, 2022 Share Posted August 16, 2022 This is where mixing politics and economics make for bad analysis. The core inflation rate in July was about 6%. Way over the Fed's goal of 2%. Core inflation is way more accurate in this case because getting to zero is almost entirely due to energy prices, which along with food, are highly volatile on a month to month basis, and can grossly distort numbers. Pols use these to serve their own purposes, but most aren't tricked. https://tradingeconomics.com/united-states/core-inflation-rate Link to comment Share on other sites More sharing options...
The Frankish Reich Posted August 16, 2022 Share Posted August 16, 2022 2 hours ago, sherpa said: This is where mixing politics and economics make for bad analysis. The core inflation rate in July was about 6%. Way over the Fed's goal of 2%. Core inflation is way more accurate in this case because getting to zero is almost entirely due to energy prices, which along with food, are highly volatile on a month to month basis, and can grossly distort numbers. Pols use these to serve their own purposes, but most aren't tricked. https://tradingeconomics.com/united-states/core-inflation-rate Now there’s a fair and honest take. None of these numbers are made up or lies. It depends on what you’re trying to measure and for what purpose. Link to comment Share on other sites More sharing options...
sherpa Posted August 16, 2022 Share Posted August 16, 2022 1 hour ago, The Frankish Reich said: Now there’s a fair and honest take. None of these numbers are made up or lies. It depends on what you’re trying to measure and for what purpose. I specialize in fair and honest takes. 1 1 Link to comment Share on other sites More sharing options...
PetermansRedemption Posted August 16, 2022 Share Posted August 16, 2022 No need to worry about inflation anymore, Biden signed the inflation reduction act today. Help is on the way! 1 Link to comment Share on other sites More sharing options...
B-Man Posted August 18, 2022 Share Posted August 18, 2022 Inflation is Straining the Charitable Sector. “According to Feeding America, 53 million people turned to food banks, food pantries and meal programs in 2021, one-third more than prior to the COVID-19 pandemic, when millions of Americans relied on food banks – some for the first time – as workers lost jobs or were temporarily unemployed. Today, many people are back to work, but real wages, or inflation-adjusted pay, keeps falling, as grocery prices rise. Again, food banks are seeing long lines for help and reporting spiking demand.” https://www.realclearpolicy.com/articles/2022/08/17/inflation_is_straining_the_charitable_sector_848394.html . Link to comment Share on other sites More sharing options...
B-Man Posted August 18, 2022 Share Posted August 18, 2022 Federal Reserve: Get ready for "uncomfortably high" inflation for a while And uncomfortably high interest rates, too. CNBC’s team called the Federal Reserve’s July minutes “confusing” after their release late yesterday, but the overall message looks clear enough. The Fed still sees inflation as the greatest threat to the economy, and it doesn’t see any signs of significant denting in inflation yet — not from policy, and not from its previous rate hikes. The Financial Times also didn’t have too much trouble sussing out a message from the Fed’s minutes, either. The Fed expects inflation to continue at significantly high levels for some time, and also noted that their previous rate hikes have not had much of an impact yet on its trajectory. It’s become enough of a problem, FT notes, that the Fed now thinks that it will have to keep rates higher and longer to seriously dent inflation: https://hotair.com/ed-morrissey/2022/08/18/fed-get-ready-for-uncomfortably-high-inflation-for-a-while-n490602 https://www.ft.com/content/8881b6d4-76e6-46cd-9ebe-efaeffeddb98?segmentId=b385c2ad-87ed-d8ff-aaec-0f8435cd42d9 Link to comment Share on other sites More sharing options...
Over 29 years of fanhood Posted August 19, 2022 Share Posted August 19, 2022 9 hours ago, B-Man said: Federal Reserve: Get ready for "uncomfortably high" inflation for a while And uncomfortably high interest rates, too. CNBC’s team called the Federal Reserve’s July minutes “confusing” after their release late yesterday, but the overall message looks clear enough. The Fed still sees inflation as the greatest threat to the economy, and it doesn’t see any signs of significant denting in inflation yet — not from policy, and not from its previous rate hikes. The Financial Times also didn’t have too much trouble sussing out a message from the Fed’s minutes, either. The Fed expects inflation to continue at significantly high levels for some time, and also noted that their previous rate hikes have not had much of an impact yet on its trajectory. It’s become enough of a problem, FT notes, that the Fed now thinks that it will have to keep rates higher and longer to seriously dent inflation: https://hotair.com/ed-morrissey/2022/08/18/fed-get-ready-for-uncomfortably-high-inflation-for-a-while-n490602 https://www.ft.com/content/8881b6d4-76e6-46cd-9ebe-efaeffeddb98?segmentId=b385c2ad-87ed-d8ff-aaec-0f8435cd42d9 Yeah this didn’t align with the inflation reduction act messaging…. Ooops. They’ll address that with updated talking points. No worries Link to comment Share on other sites More sharing options...
Irv Posted August 19, 2022 Share Posted August 19, 2022 (edited) What a mess. November can’t come fast enough. All you dopes who voted for this bull#### should enjoy the ***** show you created. Joke. Edited August 19, 2022 by Irv Link to comment Share on other sites More sharing options...
Doc Posted August 19, 2022 Share Posted August 19, 2022 1 hour ago, Irv said: What a mess. November can’t come fast enough. All you dopes who voted for this bull#### should enjoy the ***** show you created. Joke. They're loving it. An Admin to indulge their feelz and nonstop "get Trump." They're in heaven. 2 Link to comment Share on other sites More sharing options...
Tiberius Posted August 19, 2022 Share Posted August 19, 2022 Link to comment Share on other sites More sharing options...
Doc Posted August 19, 2022 Share Posted August 19, 2022 Man cannot live on chicken wings alone. Believe, I've tried. 1 1 Link to comment Share on other sites More sharing options...
B-Man Posted September 13, 2022 Share Posted September 13, 2022 UNEXPECTEDLY! Inflation soars despite drop in gas prices. “Economists had been expecting headline inflation to fall 0.1% and core to increase 0.3%, according to Dow Jones estimates.” https://www.cnbc.com/2022/09/13/inflation-rose-0point1percent-in-august-even-with-sharp-drop-in-gas-prices.html . 1 Link to comment Share on other sites More sharing options...
Tommy Callahan Posted September 13, 2022 Share Posted September 13, 2022 Just now, B-Man said: UNEXPECTEDLY! Inflation soars despite drop in gas prices. “Economists had been expecting headline inflation to fall 0.1% and core to increase 0.3%, according to Dow Jones estimates.” https://www.cnbc.com/2022/09/13/inflation-rose-0point1percent-in-august-even-with-sharp-drop-in-gas-prices.html . the futures/commodities market is pointing to this not slowing down any time soon 1 Link to comment Share on other sites More sharing options...
Doc Posted September 13, 2022 Share Posted September 13, 2022 Shocker. And when gas prices skyrocket in a couple weeks... Link to comment Share on other sites More sharing options...
Westside Posted September 13, 2022 Share Posted September 13, 2022 1 minute ago, Doc said: Shocker. And when gas prices skyrocket in a couple weeks... That’s winter fuel. I heard winter gas is more expensive than summer gas. What a mess Link to comment Share on other sites More sharing options...
B-Man Posted September 13, 2022 Share Posted September 13, 2022 Link to comment Share on other sites More sharing options...
RiotAct Posted September 13, 2022 Share Posted September 13, 2022 What. A. Mess. Anyone who voted for this gang of losers should be embarrassed. 2 1 Link to comment Share on other sites More sharing options...
Westside Posted September 13, 2022 Share Posted September 13, 2022 Worst administration ever!!! These days will be looked back on as the time the far left extremists tried to tear down this country’s foundation. Link to comment Share on other sites More sharing options...
B-Man Posted September 13, 2022 Share Posted September 13, 2022 CNBC’s Jeff Cox notes the big miss against expectations: Economists had been expecting headline inflation to fall 0.1% and core to increase 0.3%, according to Dow Jones estimates. The respective year-over-year estimates were for 8% and 6% gains. Energy prices fell 5% for the month, led by a 10.6% slide in the gasoline index. However, those declines were offset by increases elsewhere. … Markets slumped following the news, with futures tied to the Dow Jones Industrial Average down nearly 350 points after being higher earlier. And this is with a roughly 10% decrease at the pump. Imagine what will happen when gas prices begin to rise, as Janet Yellen predicted this weekend. We will see even more escalation in inflation, which will further expose the “Inflation Reduction Act” as nothing more than a bait-and-switch, with Biden using inflation to pull the wool over the eyes of voters. https://hotair.com/ed-morrissey/2022/09/13/breaking-bidenflation-still-roaring-as-cpi-hits-8-3-core-cpi-near-high-at-6-3-n496107 Just to put wage erosion into perspective: . Link to comment Share on other sites More sharing options...
Doc Posted September 13, 2022 Share Posted September 13, 2022 1 minute ago, B-Man said: CNBC’s Jeff Cox notes the big miss against expectations: Economists had been expecting headline inflation to fall 0.1% and core to increase 0.3%, according to Dow Jones estimates. The respective year-over-year estimates were for 8% and 6% gains. Energy prices fell 5% for the month, led by a 10.6% slide in the gasoline index. However, those declines were offset by increases elsewhere. … Markets slumped following the news, with futures tied to the Dow Jones Industrial Average down nearly 350 points after being higher earlier. And this is with a roughly 10% decrease at the pump. Imagine what will happen when gas prices begin to rise, as Janet Yellen predicted this weekend. We will see even more escalation in inflation, which will further expose the “Inflation Reduction Act” as nothing more than a bait-and-switch, with Biden using inflation to pull the wool over the eyes of voters. https://hotair.com/ed-morrissey/2022/09/13/breaking-bidenflation-still-roaring-as-cpi-hits-8-3-core-cpi-near-high-at-6-3-n496107 Just to put wage erosion into perspective: Hopefully everybody (also) got a 1$0,000 raise this year... Link to comment Share on other sites More sharing options...
Chef Jim Posted September 13, 2022 Share Posted September 13, 2022 14 minutes ago, Doc said: Hopefully everybody (also) got a 1$0,000 raise this year... My comp is tied to my clients assets I'm managing. I've taken a "slight" cut in pay this year. 1 Link to comment Share on other sites More sharing options...
Big Blitz Posted September 13, 2022 Share Posted September 13, 2022 I told y'all with my anecdotal evidence just a few days ago that it is even WORSE then the media is letting on. If Trump were in office it would be beaten into your heads daily that the entire country is in Great Depression II and that it's his fault. They have convinced millions that Biden and the Ds have absolutely no responsibility for their Covid lunacy and predictable subsequent economic meltdown The fact they talk about with such matter of factness about it is disgusting. They cheered (I have the receipts) when that first jobs report of 33 million lost jobs after the sham shutdown. They cheered and Hillary was tweeting about us "being number 1 in Covid deaths." Super serious virus everyone. Sorry you're watching your 401Ks burn and retirement plans go up in smoke. What really matters is that you can get an abortion at 36 weeks. 2 Link to comment Share on other sites More sharing options...
Doc Posted September 13, 2022 Share Posted September 13, 2022 1 minute ago, Big Blitz said: I told y'all with my anecdotal evidence just a few days ago that it is even WORSE then the media is letting on. If Trump were in office it would be beaten into your heads daily that the entire country is in Great Depression II and that it's his fault. They have convinced millions that Biden and the Ds have absolutely no responsibility for their Covid lunacy and predictable subsequent economic meltdown The fact they talk about with such matter of factness about it is disgusting. They cheered (I have the receipts) when that first jobs report of 33 million lost jobs after the sham shutdown. They cheered and Hillary was tweeting about us "being number 1 in Covid deaths." Super serious virus everyone. Sorry you're watching your 401Ks burn and retirement plans go up in smoke. What really matters is that you can get an abortion at 36 weeks. The bigger problem is the stupid audience that believes it. 2 Link to comment Share on other sites More sharing options...
Tiberius Posted September 13, 2022 Share Posted September 13, 2022 Absolute insanity that the GOP can't capitalize on this. How bad must they be if this issue isn't making Americans want to vote for fascist goverment Link to comment Share on other sites More sharing options...
B-Man Posted September 13, 2022 Share Posted September 13, 2022 . Link to comment Share on other sites More sharing options...
Chef Jim Posted September 13, 2022 Share Posted September 13, 2022 25 minutes ago, Tiberius said: Absolute insanity that the GOP can't capitalize on this. How bad must they be if this issue isn't making Americans want to vote for fascist goverment Was there an election recently? Did I miss it?? 1 Link to comment Share on other sites More sharing options...
Your Brown Eye Posted September 13, 2022 Share Posted September 13, 2022 3 hours ago, RiotAct said: What. A. Mess. Anyone who voted for this gang of losers should be embarrassed. My fiance did...and she is. Link to comment Share on other sites More sharing options...
Doc Posted September 13, 2022 Share Posted September 13, 2022 So did, and is, my boss. Link to comment Share on other sites More sharing options...
The Frankish Reich Posted September 13, 2022 Share Posted September 13, 2022 1 hour ago, Big Blitz said: Sorry you're watching your 401Ks burn and retirement plans go up in smoke. Not me. I’ll be honest, I missed out on a lot of the big run up in stock prices the last 2 years, having reallocated to a T bill heavy portfolio when COVID hit. Now those T bills are pressing up against the historically normal range (4% for relatively short term bills) which provides a nice secure stream of income for a lot of retirees. I’m getting close. Remember: inflation awful if you have debt. Manageable, and sometimes not bad at all, if you don’t. Link to comment Share on other sites More sharing options...
Big Blitz Posted September 13, 2022 Share Posted September 13, 2022 1 hour ago, The Frankish Reich said: Not me. I’ll be honest, I missed out on a lot of the big run up in stock prices the last 2 years, having reallocated to a T bill heavy portfolio when COVID hit. Now those T bills are pressing up against the historically normal range (4% for relatively short term bills) which provides a nice secure stream of income for a lot of retirees. I’m getting close. Remember: inflation awful if you have debt. Manageable, and sometimes not bad at all, if you don’t. Sky high Inflation awful if you have a planned fixed retirement Link to comment Share on other sites More sharing options...
The Frankish Reich Posted September 13, 2022 Share Posted September 13, 2022 3 minutes ago, Big Blitz said: Sky high Inflation awful if you have a planned fixed retirement True. It’s not good for defined benefit pensions unless they have a healthy COLA built in. It’s actually pretty good though if you want a steady stream of income from bond investments. Link to comment Share on other sites More sharing options...
Chef Jim Posted September 13, 2022 Share Posted September 13, 2022 1 hour ago, The Frankish Reich said: Not me. I’ll be honest, I missed out on a lot of the big run up in stock prices the last 2 years, having reallocated to a T bill heavy portfolio when COVID hit. Now those T bills are pressing up against the historically normal range (4% for relatively short term bills) which provides a nice secure stream of income for a lot of retirees. I’m getting close. Remember: inflation awful if you have debt. Manageable, and sometimes not bad at all, if you don’t. How is a 4% income stream good when inflation is over 8%? Inflation is manageable when it's at historic norms. We are not even close to that now. Link to comment Share on other sites More sharing options...
Doc Posted September 14, 2022 Share Posted September 14, 2022 Anything is manageable if you live within your means. It still doesn't mean you're not getting soaked. Link to comment Share on other sites More sharing options...
Recommended Posts