2021 - Is inflation finally back in the conversation?

[52-80 19106]

checkin in on my egg bois

 

[jimmyjazz 45597]

4 hours ago, 52-80 said:

checkin chicken in on my egg bois

FIFY

[Incredulity 11564]

Cal-Maine still profiteering or nah???

[52-80 19106]

9 hours ago, Incredulity said:

Cal-Maine still profiteering or nah???

they found the angry social media posts and grew a conscience

[Fudge Nuggets 19152]

Amazing how the egg shortage (but my local stores were never short on eggs) sorted itself out once the masses started to call them out on their bullshit.  I'm sure it was just the free market at work.

[jimmyjazz 45597]

2 hours ago, Fudge Nuggets said:

Amazing how the egg shortage (but my local stores were never short on eggs) sorted itself out once the masses started to call them out on their bullshit.  I'm sure it was just the free market at work.

We haven't been buying eggs much for a while -- I was really surprised to see them at $1.24/dz the other day.  That graph above seems pretty legit.

[Hefeweizen 5307]

The egg thing is still going on, but surprisingly, Whole Foods had them at about half the price of Safeway/Andronicos.  Right now you really can get ripped off at grocery stores and it’s bullshit.  So we go to Trader Joe, Costco, WF, or Andronicos alternating weeks to get things at a reasonable price.

[Guest]

I bought 3 dozen eggs at Sams yesterday for $4.88.

Crisis averted.

Of course they still had cage free bullshit for like $8.48/ 2 dozen.

Edited May 27, 2023 by slorch

[52-80 19106]

6 hours ago, Fudge Nuggets said:

Amazing how the egg shortage (but my local stores were never short on eggs) sorted itself out once the masses started to call them out on their bullshit.  I'm sure it was just the free market at work.

“My local jewery store carries gold so it cant be rare. Why does it cost $$/oz?”

Imagine being an adult and thinking the price of eggs was determined by angry people on Twitter

[Fudge Nuggets 19152]

1 hour ago, 52-80 said:

“My local jewery store carries gold so it cant be rare. Why does it cost $$/oz?”

Imagine being an adult and thinking the price of eggs was determined by angry people on Twitter

Imagine being an adult and thinking the price of eggs tripled overnight for legitimate reasons.

[StassneyHorn 6540]

Grocery stores will 100% steal from you. Write the price next to the item on the list when you pick it up and then compare to receipt.

[Anastasis 23402]

Ain’t no one got time for that shit. 

[StassneyHorn 6540]

True, I buy only what I need for the day though and have seen it enough on just 5 item purchases

[Captainant 27487]

15 hours ago, Fudge Nuggets said:

Imagine being an adult and thinking the price of eggs tripled overnight for legitimate reasons.

Hey man, them corporate boots ain't gonna lick themselves

[52-80 19106]

17 hours ago, Fudge Nuggets said:

Imagine being an adult and thinking the price of eggs tripled overnight for legitimate reasons.

Placating online grievance activists is a legitimate reason for cutting prices 2/3rds overnight

[Mullet Free 40]

Debt ceiling done. Nothingburger as always. You can stop your prepping @Bozo_Casanova
 

 

 

[washparkhorn 9935]

Arch paleo-Republican Bruce Bartlett understands the silliness of the debt ceiling theater. Want to be brighter than 99% of Americans? Read and understand this. Good luck. 
 

 

[Parliament 14148]

I understand his first point, but the rest of his comments seem kinda dumb.

[Neonmoon 38127]

3 hours ago, Parliament said:

I understand his first point, but the rest of his comments seem kinda dumb.

[washparkhorn 9935]

One can lead a horse to water . . .

 

[Mullet Free 40]

4 hours ago, washparkhorn said:

Arch paleo-Republican Bruce Bartlett understands the silliness of the debt ceiling theater. Want to be brighter than 99% of Americans? Read and understand this. Good luck. 
 

 

He has some good points. It’s nitpicking but I’ll say the point about liquidity is not as ironclad as it once was. Fed has had to step in and Treasury has at least publicly signaled they wanted an established mechanism to do the same. 

[Captainant 27487]

7 minutes ago, Mullet Free said:

He has some good points. It’s nitpicking but I’ll say the point about liquidity is not as ironclad as it once was. Fed has had to step in and Treasury has at least publicly signaled they wanted an established mechanism to do the same. 

Maybe we shouldn't let massive financial institutions leverage everything to the tits? Then we wouldn't have liquidity concerns every time the line briefly stops going up 

[unoriginal 55]

8 hours ago, washparkhorn said:

Arch paleo-Republican Bruce Bartlett understands the silliness of the debt ceiling theater. Want to be brighter than 99% of Americans? Read and understand this. Good luck. 
 

 

He fails to mention that the US debt cannot be paid off. The money needed to pay it off must be loaned into existence, thereby creating more debt.

[Hefeweizen 5307]

Debt default delayed, now we can go back to Fed watching and decrying all the money that got pumped into egg futures by the brrrt printer.

 This week stonks are back on the menu, boys!

[Incredulity 11564]

Now we get on to realizing the CRE market is imploding.  Right?

[52-80 19106]

10 hours ago, unoriginal said:

He fails to mention that the US debt cannot be paid off. The money needed to pay it off must be loaned into existence, thereby creating more debt.

That's neither true nor meaningful.  Currency (money) is just a representation of value.  People can create value - we do that all the time.

US economy suddenly produces a whole lot of goods and services.  Those things get sold (preferably offshore) which generate income.  The tax from them goes into Treasury account.  Treasury now has surplus money to pay off debt interest and principal of expiring bonds, reducing  its overall debt.

**

That lending money "creates money" is exactly the point. The idea is that the borrower - be it a private individual or a state entity - uses that capital, pulled from a future date, to do something excessively productive today.  I borrow money to grow an apple farm, I sell apples, i get money to pay you back and keep some for myself.  Both parties win. The operating principal is that the borrowed money is doing something useful, instead of supporting a military base in Cameroon.

**

That's also why there's so much focus on GDP, and the slogan 'the stock market is not the economy', because in the end the economy is about building marketable goods and services.  We let capitalism incentivize people to do that activity the best, and the antiwork marx-revivalist braindead goblins, those morons should be shot off into space on a 1-way vessel. 

[bernorange 8349]

Re: Bartlett - fiat money is not "an asset with no risk of default".  US Debt (size) doesn't matter until it does.  It can grow as long as the world has faith that the US has the ability to service the debt.  It's another soft (undefined) limit that we will eventually find out after much fucking around.  Catastrophic system design.  BTW, the no default risk asset Bartlett is looking for is gold.  That's why central banks own it.

[52-80 19106]

he meant the sense that US will keep issuing new debt to pay existing bond obligation (with fed absorbing it from secondary market).  like you intimate, kicking the can down the road only works until it doesnt.  the capacity and appetite for it is finite.  people buy that stuff now because they want (future) dollars - whether to pay for commodities (oil is denominated in usd) or us taxes (must be remitted in usd).  if the country doesnt produce shit, doesnt sell shit, it simultaneously will be in a deeper shortfall of financial obligation AND nobody will want the new dollars.  thats a death loop. 

the fiat system isn't really key here. its the basic idea of needing to maintain a robust economy, and not overspending resource you dont have.

Edited May 30, 2023 by 52-80

[unoriginal 55]

10 hours ago, 52-80 said:

That's neither true nor meaningful.  Currency (money) is just a representation of value.  People can create value - we do that all the time.

US economy suddenly produces a whole lot of goods and services.  Those things get sold (preferably offshore) which generate income.  The tax from them goes into Treasury account.  Treasury now has surplus money to pay off debt interest and principal of expiring bonds, reducing  its overall debt.

**

That lending money "creates money" is exactly the point. The idea is that the borrower - be it a private individual or a state entity - uses that capital, pulled from a future date, to do something excessively productive today.  I borrow money to grow an apple farm, I sell apples, i get money to pay you back and keep some for myself.  Both parties win. The operating principal is that the borrowed money is doing something useful, instead of supporting a military base in Cameroon.

**

That's also why there's so much focus on GDP, and the slogan 'the stock market is not the economy', because in the end the economy is about building marketable goods and services.  We let capitalism incentivize people to do that activity the best, and the antiwork marx-revivalist braindead goblins, those morons should be shot off into space on a 1-way vessel. 

It is true. Before the first Federal Reserve Note was issued, zero existed. The USG needs 99 FRNs, so it borrows 99 from the Federal Reserve, with a promise to pay back 100 FRNs. That last FRN doesn't exist until it is loaned into existence, so the USG borrows another 99, and around it goes.

[52-80 19106]

36 minutes ago, unoriginal said:

It is true. Before the first Federal Reserve Note was issued, zero existed. The USG needs 99 FRNs, so it borrows 99 from the Federal Reserve, with a promise to pay back 100 FRNs. That last FRN doesn't exist until it is loaned into existence, so the USG borrows another 99, and around it goes.

This technicality is not meaningful to the recent(ish) phenomena of overspending and accelerated debt issuance required to sustain it.  For a long period the country and its economy still grew while public debt was kept in check.  Not until last decade that its size exceeded majority fraction of GDP

[StassneyHorn 6540]

Whose starting the disinflation thread?

[Cheeseweasel 26437]

1 hour ago, StassneyHorn said:

Whose starting the disinflation thread?

[Bozo_Casanova 26328]

On 5/29/2023 at 6:55 PM, unoriginal said:

He fails to mention that the US debt cannot be paid off. The money needed to pay it off must be loaned into existence, thereby creating more debt.

that's a feature, not a bug

[jimmyjazz 45597]

3 hours ago, Bozo_Casanova said:

that's a feature, not a bug

I don't even understand the assertion.  If the budget is better than balanced, then that excess revenue can pay down national debt.  Clinton did it, for about a year.

[Neonmoon 38127]

Clinton raised taxes which led to more revenue. The Republicans ran against those tax increases and won a majority in both House and Senate for first time since 1952. The Republican congress blocked any spending initiatives from Clinton. More Revenue and less expenses, equals deficit reduction 

 

[jimmyjazz 45597]

58 minutes ago, Neonmoon said:

Clinton raised taxes which led to more revenue. The Republicans ran against those tax increases and won a majority in both House and Senate for first time since 1952. The Republican congress blocked any spending initiatives from Clinton. More Revenue and less expenses, equals deficit reduction 

 

What exactly is your point, and how does it refute my assertion that the debt can actually be paid down without printing more money?

[tx 3 putt 76450]

On 5/27/2023 at 10:24 AM, Fudge Nuggets said:

Amazing how the egg shortage (but my local stores were never short on eggs) sorted itself out once the masses started to call them out on their bullshit.  I'm sure it was just the free market at work.

 

profiteering - price gouging >>> inflation 

[ChiTownDoc 21102]

On 5/29/2023 at 11:03 AM, washparkhorn said:

Arch paleo-Republican Bruce Bartlett understands the silliness of the debt ceiling theater. Want to be brighter than 99% of Americans? Read and understand this. Good luck. 
 

 

You can nitpick but he nails the big picture.  And the scary part is how few people in congress seem to have even the slightest clue - or even care.  

[Cheeseweasel 26437]

10 hours ago, Neonmoon said:

Clinton raised taxes which led to more revenue. The Republicans ran against those tax increases and won a majority in both House and Senate for first time since 1952. The Republican congress blocked any spending initiatives from Clinton. More Revenue and less expenses, equals deficit reduction 

 

The biggest boon was the booming economy / gains in the stock market due to the dot com bubble. Massive influx of unexpected tax revenue for the gubmint. Had little to do with politics.

[Trey3216 15325]

On 5/28/2023 at 11:09 AM, 52-80 said:

Placating online grievance activists is a legitimate reason for cutting prices 2/3rds overnight

Placating Grievance Activists is a pretty solid band name.  

[52-80 19106]

2 hours ago, Cheeseweasel said:

The biggest boon was the booming economy / gains in the stock market due to the dot com bubble. Massive influx of unexpected tax revenue for the gubmint. Had little to do with politics.

i think you are both correct.  bill did sign in a 1993 omnibus new 36% and 39.6% tax brackets, whereas previously it topped at 31% or 28%.  but also the revenue coincided with rise and fall of sp500 (with lag due due to capital realization)

 

[52-80 19106]

29 minutes ago, Trey3216 said:

Placating Grievance Activists is a pretty solid band name.  

it genuinely baffles me that people can look at the tremendous volatility of goods on the market, and still convince themselves that 1 party has unilateral power over its pricing. 

in certain markets certain players have a a smudgeon of pricing power, but because we're living in Not-Cuba the market largely calls the shot.  retail egg price plummeted 66% in a matter of 4 months and whoever thinks thats a voluntary act, their brain should be donated to science so we can study its abnormality.

[Cheeseweasel 26437]

10 minutes ago, 52-80 said:

it genuinely baffles me that people can look at the tremendous volatility of goods on the market, and still convince themselves that 1 party has unilateral power over its pricing. 

That's eggsactly what Big Egg wants you to think. 

 

11 minutes ago, 52-80 said:

in certain markets certain players have a a smudgeon of pricing power, but because we're living in Not-Cuba the market largely calls the shot.  retail egg price plummeted 66% in a matter of 4 months and whoever thinks thats a voluntary act, their brain should be donated to science so we can study its abnormality.

Their brains are fried. (Scrambled would work too)

[B00M 6280]

[Cheeseweasel 26437]

Always wanted to do drugs with that chick. She seemed fun.

[Bozo_Casanova 26328]

29 minutes ago, Cheeseweasel said:

Always wanted to do drugs with that chick. She seemed fun.

And she can cook!

[Incredulity 11564]

1 hour ago, 52-80 said:

it genuinely baffles me that people can look at the tremendous volatility of goods on the market, and still convince themselves that 1 party has unilateral power over its pricing. 

in certain markets certain players have a a smudgeon of pricing power, but because we're living in Not-Cuba the market largely calls the shot.  retail egg price plummeted 66% in a matter of 4 months and whoever thinks thats a voluntary act, their brain should be donated to science so we can study its abnormality.

BuT, LaTe sTaGe CapItalISM!!!!1!!!!1

 

 

[Captainant 27487]

It's hilarious and cute to see yall spiking the football while completely ignoring that the egg companies profits soared while their prices soared much further and faster than their costs.

 

If you enjoy paying so much for products, why don't you just give companies more money??? Hurrr durrrrrrrrrrrrrrrrrrrrr

[Cheeseweasel 26437]

27 minutes ago, Captainant said:

why don't you just give companies more money???

Inflation has done just that. 

[Captainant 27487]

2 minutes ago, Cheeseweasel said:

Inflation has done just that. 

tfw profit growth >>>>>> inflation rates