Bidenflation
- Thread starter JamieDimonsBalls
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Because massive money printing began in January, 2021. Right.$9.99 for a small organic Strawberry container.
the economy was set to collapse years ago. I sold off my stocks and have preaching that it was time. It didn’t happen. Why? Massive money printing.
in 2020 alone, 30-35% of all dollars in the history of this country were created. At the same time the fed bought up debt, keeping interest rates artificially low..
The result? Debt bubble. Stock
Market bubble. Real estate inflation. General inflation and market misallocations.
none of this is new. You’re just seeing more of it because once you ramp up the money printing, the only way to keep the game going is to go parabolic, the problem is, the more you print, the cheaper the dollar, the cheaper the dollar, the more things cost.
The chickens have come home to roost. Now the fed needs to stop inflation, but if they raise rates - which they have - it pops the debt and equity bubble.
I’ve been harping on this for years now, so it’s a big annoying to see people call this Biden’s inflation when the digit was turned up in 2020.
Oh no Joe:
www.reuters.com
Huge sell-off rocks Treasury markets, yield curve inverts
U.S. two-year Treasury yields rose above 10-year borrowing costs on Monday - the so-called curve inversion that often heralds economic recession - on expectations interest rates may rise faster and further than anticipated.
www.reuters.com
Didn't that happen under Trump too?Oh no Joe:
Huge sell-off rocks Treasury markets, yield curve inverts
U.S. two-year Treasury yields rose above 10-year borrowing costs on Monday - the so-called curve inversion that often heralds economic recession - on expectations interest rates may rise faster and further than anticipated.
The yield curve caused COVID? The recession was March and April, both heavy COVID months. I guess we could have a long debate as to if we would have had a recession sans COVID, but given with COVID it was only two months I am doubtful.
I'm implying that it may have happened regardless, COVID was simply a trigger. The COVID-related recession isn't a great case study anyway because of the forced shutdown of the economy. That's not happened during prior recessions that have been tracked. Thus, you never saw GDP fall off of a cliff like that.
The recovery could begin sooner because the fall was so much more dramatic and quick.
Both sides have built this bonfire.
Economic moderates are going to have to do the work.
So I posted libs want high gas prices and inflation to save the world. I shared a quote from Biden about how high gas prices will get us to renewable faster, and he's ok with the short term pain of higher gas prices.
Now, here is a CNN economic analyst saying in order to have a 'kinder' economy, inflation needs to occur.
Climate change is their religion.
CNN economic analyst says in order to have a 'kinder' economy, inflation needs to occur
New York Times published a new episode of "The Ezra Klein Show" on Friday featuring an interview with CNN analyst Rana Foroohar. She called for a greener economy and criticized the Fed.
Probably half of the trucking companies in California will be at risk of closure next week due to AB5 going into effectAccording to what data/source? I wasn't opposed to the initial actions/measures taken during the onset, but to pretend this was going to be 1929 seems a bit premature unless you have some evidence to suggest your concerns were valid. Otherwise, you are just being a primadonna.
Sure, for the haves, but your party has been whining that Home Ownership is a right, not a privilege. If home prices continue to go up, those who are trying to buy for the first time find it much harder on their wallets, despite low interest rates.
It seems to be worse in California because of labor laws.
Some 20 business groups recently asked Gov. Gavin Newsom to declare a state of emergency and suspend labor and environmental laws that are interfering with the movement of goods. Opening the Port of Los Angeles 24 hours a day “alone will do little without immediate action from the state to address other barriers that have created bottlenecks at the ports, warehouses, trucking, rail, and the entire supply chain,” they wrote.
One barrier is a law known as AB5. Before its enactment in 2019, tens of thousands of truck drivers worked as independent contractors, which gave them more autonomy and flexibility than if they were employees. As contractors, truck drivers can work for multiple companies, which allows them to nimbly respond to surges in demand.
The International Brotherhood of Teamsters, however, has long wanted to organize truck drivers, including those serving California’s ports. Since the National Labor Relations Act prevents unions from organizing independent contractors, Democrats passed AB5, sponsored by Assemblywoman Lorena Gonzalez, a Teamsters member.
Trucking companies warned that the law could put small carriers out of business and cause drivers to leave the state. They want the U.S. Supreme Court to review a legal challenge to AB5, but many are complying after defeats in lower courts. It’s hard to quantify how much AB5 has contributed to the shortage of truck drivers. But there’s little doubt the law hinders efficiency and productivity.
Interestingly, there is a court battle over AB5 going on right now:
Supreme Court’s AB5 appeal request keeps California trucking injunction in place for now
SCOTUS is calling on the Biden administration to weigh in on the legal issues.www.freightwaves.com
Holy shit, what a shit show. I just read more about it.
Gavin is going to save the Dems in 2024 😉.
Trump is already printing up the bumper stickers. "Make America California 2024!!!"
California’s AB5 throws 70,000 truckers in gig-work legal limbo, risking supply chains
More than 70% of truckers serving some of the country’s largest ports — including Los Angeles, Long Beach and Oakland — are owner-operators, and AB5 will govern their relationships with carriers, b…
www.mercurynews.com
You’re obviously one of the 4 people still watching CNN.
A combination of ever-increasing costs, inflation and the specter of a recession has hit the new home market, CNBC reports. A National Association of Home Builders survey shows sentiment has fallen to 55, a 12-point drop that is the second-largest one-month decrease in its 37-year history. Many builders are stopping construction because of “production bottlenecks, rising homebuilding costs and high inflation," NAHB chairman Jerry Konterand said. The latest rating is a far cry from last July, when it hit 80.
Thanks Biden
Thanks Biden
With regards to the economy, how are things going under Biden?
Things:
Inflation hits NYC's bodega favorite: Bacon, egg and cheese
NEW YORK (AP) — Ah, the bacon, egg and cheese. The classic bodega breakfast sandwich is a staple in many a New Yorker's diet. It's easy to make, easy to eat on the go and cheap — although not as cheap as it used to be.
apnews.com
CNN everyone...
www.cnn.com
Analysis: America just got a $100-a-month raise
Next time you stop at a gas station, think of it as a $100-a-month tax cut. Or a maybe $100-a-month raise.
www.cnn.com
Thanks Joe!CNN everyone...
Analysis: America just got a $100-a-month raise
Next time you stop at a gas station, think of it as a $100-a-month tax cut. Or a maybe $100-a-month raise.
And they can’t figure out why anyone with an IQ north of 70 doesn’t take them serious.CNN everyone...
Analysis: America just got a $100-a-month raise
Next time you stop at a gas station, think of it as a $100-a-month tax cut. Or a maybe $100-a-month raise.
Lol…I was hoping that would get a response from you. Brian Stelter sucks by the way. I didn’t have the heart to post it when you had Covid. Deep down I’m a softy.
Better to watch Tucker Carlson, where only serious news is spewed
I’ll be serious for just a moment. You shouldn’t watch Fox, MSNBC, or CNN unless it’s purely for entertainment or you hate yourself.
Probably accurate. I haven't watched news in a long time. Just keep up by reading online
I watch a lot of MSNBC, and have wondered about my self esteem.
It’s much higher than it should be…
On today's installment of Bidenflation
finance.yahoo.com
US Household Debt Jumps Most Since 2008 Even as Credit-Card Rates Surge
(Bloomberg) -- US household debt climbed at the fastest annual pace since 2008 in the third quarter, with credit-card balances surging even as the interest rates that lenders charge to consumers hit a multi-decade high.Most Read from BloombergUkraine Latest: Poland Says Russian-Made Missile Hit...
Not a good metric at all. But, nothing with Biden is good.On today's installment of Bidenflation
US Household Debt Jumps Most Since 2008 Even as Credit-Card Rates Surge
(Bloomberg) -- US household debt climbed at the fastest annual pace since 2008 in the third quarter, with credit-card balances surging even as the interest rates that lenders charge to consumers hit a multi-decade high.Most Read from BloombergUkraine Latest: Poland Says Russian-Made Missile Hit...
Joe must be doing some amazing things to bring the price of oil down! I know that many were really worried about the price of oil a few weeks ago.
* The growth of the Internet will slow drastically, as the flaw in "Metcalfe's law"--which states that the number of potential connections in a network is proportional to the square of the number of participants--becomes apparent: most people have nothing to say to each other! By 2005 or so, it will become clear that the Internet's impact on the economy has been no greater than the fax machine's.
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