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2021 - Is inflation finally back in the conversation?

Reagan1k

By Reagan1k
in Business and Markets

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52-80
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Bateshorn
Bateshorn

The only thing more predictable than the GOP running up huge deficits on tax cuts and military spending, is each one suddenly becoming horrified by deficit spending 5 mins after a Democrat is sworn in

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Captainant

Captainant 27464

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Posted

Really gotta give a tip of the cap to GRUvibes for making the inflation thread into a taxes and IRS bad thread. Not like taxes are a meaningful way to reduce monetary supply and tap the brakes or anything, right? 

No you're right, let's do the AM talk radio hits on how the IRS is going to target small business owners. 

Let's definitely not talk about the massive economic stimulus in fat years via corporate tax cuts. There's no way that could directly lead us to the inflated stock market we've been watching correct. And definitely has nothing to do with the limited options remaining to manage the current situation. 

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jimmyjazz

jimmyjazz 45560

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50 minutes ago, Captainant said:

Let's definitely not talk about the massive economic stimulus in fat years via corporate tax cuts. There's no way that could directly lead us to the inflated stock market we've been watching correct. 

. . . and for all the wailing and gnashing of teeth about the stock market "tanking", the S&P is currently 11% off it's all-time high.  That's a "blip", as in common.

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Captainant

Captainant 27464

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2 hours ago, slorch said:

LOLz at the "It's not really that bad" campers. As if you didn't get an electric bill for July...or even put food on the table at home.

It's all imaginary, right?

Yup slorch, that's exactly what we're posting. I definitely think everything is honkey-dorey, and but for the ebil gubmint collecting taxes, we'd be in a state of fiscal bliss. 

Great work as always slorch. 

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Posted
Posted (edited)
13 minutes ago, Captainant said:

Yup slorch, that's exactly what we're posting. I definitely think everything is honkey-dorey, and but for the ebil gubmint collecting taxes, we'd be in a state of fiscal bliss. 

Great work as always slorch. 

We’re hemorrhaging economically.  Massive spending isn’t the solution.

People don’t want it fixed.  That is patently obvious.  It is deliberate destruction.

I know it.  You know it.  Just stick with the talking points though…

Edited by slorch
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Captainant

Captainant 27464

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Posted (edited)
14 minutes ago, slorch said:

We’re hemorrhaging economically.  Massive spending isn’t the solution.

People don’t want it fixed.  That is patently obvious.  It is deliberate destruction.

Careful now, don't CR the thread by talking about the actual laws passed and fiscal policy followed to get us to where we are! 

Yeah dude. Our system is built such that the only measure of success is infinite growth. Taking steps to reduce inflation is going to harm that line going up, and doing shit like the 2017 TCAJ Act giving corps and ultra-wealthy individuals a gargantuan tax break in perpetuity while back-door raising taxes on everyone else when the individual provisions expire in 2025 definitely isn't helping things. And sure, #bothsides, neoliberal economic policy also drinks from the well of unlimited growth and has much the same problem with long-term policy.

Turns out trickle down IS bullshit and is deliberately destroying the middle class to bolster their RECORD PROFITS BAYBEEEE!

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52-80

52-80 19096

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stock market valuation do not affect money supply unless either the corporation borrow, or shareholders borrow against their assets (eg 401k, brokerage account)

a company issuing new shares (to take advantage of high prices) just removes cash from investors. an investor selling his/her share removes cash from the buyer. 
 

please keep your seat belt buckled on the shortbus. 

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Captainant

Captainant 27464

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Posted (edited)
38 minutes ago, 52-80 said:

stock market valuation do not affect money supply unless either the corporation borrow, or shareholders borrow against their assets (eg 401k, brokerage account)

a company issuing new shares (to take advantage of high prices) just removes cash from investors. an investor selling his/her share removes cash from the buyer. 
 

please keep your seat belt buckled on the shortbus. 

Buddy, are you not familiar with how the wealthy actually get value out of their stocks and shares? They get loans and use the shares as collateral - it's why Elon is freaking out about buying TWTR. He's already leveraged up to the tits and TSLA is securing most of that debt. Best part of doing it that way - it's not taxed! Way better than selling shares for the individual as you get to retain the asset, but increases the monetary supply significantly. 

Which is a major contributor to inflation. 

Also @slorch this would be one of those folks that is in the "it's not really that bad" camp lol. Not sure why you're getting your tortilla in a twist at jimmy and I 

Edited by Captainant
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Humble Beast

Humble Beast 258

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Posted
21 hours ago, CowboyFred said:

Did you miss this part?

Additionally, the IRS is expecting a large number of employees to leave in the next 10 years and will hire new staff to fill those roles. At least 50,000 staff members will leave or retire from the agency in the next five years alone, according to the Treasury Department. 
 

 

fuck you and fuck gr horn 

The IRS used 79,000 FTEs in 2021

https://www.irs.gov/statistics/irs-budget-and-workforce

So if you believe 2/3 of their workforce are retiring in the next 5 years (I’m skeptical), and they hire 87,000 you have a net +37,000 so adding almost 50% to staffing. 
 

Enforcement funding overall is being increased 69%.
 

IN11977

Pretty substantial. 
 

B25896-F0-70-B1-449-A-B828-6-E1-AA3-A1-D

 

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Posted
Posted (edited)
5 hours ago, slorch said:

We’re hemorrhaging economically.  Massive spending isn’t the solution.

People don’t want it fixed.  That is patently obvious.  It is deliberate destruction.

I know it.  You know it.  Just stick with the talking points though…

What? Adding 530,000 jobs last month, a 3.5% unemployment rate, a deficit that's looking better than it has in years, and household net worth that's -- *checks notes* -- 0.67% off the all-time high, 8.8% up over a year ago, and 53% higher than five years ago.

There are plenty of softer spots in the economy, no doubt. But to describe it as "hemorrhaging economically"? Get out of here.
 

8 hours ago, slorch said:

LOLz at the "It's not really that bad" campers. As if you didn't get an electric bill for July...or even put food on the table at home.

It's all imaginary, right?

I do. Highest electric and water bill I've had. It was also the hottest and driest period in history for Austin and I'm trying to keep the grass at least somewhat alive. Who should I blame for that? Government spending?

Apple just released record Q3 results. Las Vegas airport saw their busiest month ever. Disney says they are seeing overwhelming demand.

Higher prices suck and we all like to complain about it. But so far at least, it's not really that bad. 

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Hefeweizen

Hefeweizen 5307

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No the economy sucks you see?  Way too many pay raises for lower income people is increasing the cost of business for the soul of America, the 50000 employee small business entrepreneur who only fears the IRS and inflation.  But for those and regulations the money would rain.

Yawn.  This recession is the weirdest one I’ve seen.  Stock market was down (not really a good economic indicator) inflation up, unemployment still down, wages up, and profits still generally up but under pressure from various factors.  Other that higher interest rates pounding homebuyers and home builders who paid too much for land, I don’t see a ton of losers out there right now.  There is still a question about how many people who left the workforce come back but that should sort itself out soon too.

 

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StassneyHorn

StassneyHorn 6540

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Posted

Some basics

89k over 10 years= 8900/yr

more than half of the agency’s current employees are eligible for retirement and are expected to leave the agency within the next five years according to the department.

1 dollar spent on enforcement brings 4 in revenue.

The IRS currently uses technology from the 1960s, called COBOL, to process and intake individual tax returns. New IT hires to overhaul systems will make a large proportion of that hiring. 

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Posted
Posted (edited)
4 hours ago, Hefeweizen said:

No the economy sucks you see?  Way too many pay raises for lower income people is increasing the cost of business for the soul of America, the 50000 employee small business entrepreneur who only fears the IRS and inflation.  But for those and regulations the money would rain.

Yawn.  This recession is the weirdest one I’ve seen.  Stock market was down (not really a good economic indicator) inflation up, unemployment still down, wages up, and profits still generally up but under pressure from various factors.  Other that higher interest rates pounding homebuyers and home builders who paid too much for land, I don’t see a ton of losers out there right now.  There is still a question about how many people who left the workforce come back but that should sort itself out soon too.

 

wages are up, but not matching inflation.

"wages are up" doesn't mean shit if expenses are increasing at a higher rate.  Minor detail, I know.

https://www.weforum.org/agenda/2022/06/wages-why-are-they-not-keeping-up-with-inflation/

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3 minutes ago, StassneyHorn said:

yes it does

If expenses are increasing at a higher rate, you're gonna hang your hat on wage increases that don't cover the delta??

 

LOLz.  No wonder y'all don't get it.  Bills are imaginary for Congress only.

 

 

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Posted (edited)

My favorite is the measure excluding "food and energy"

What are the 2 largest expenditures for most folks after a mortgage or car payment?

Edited by slorch
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2 minutes ago, StassneyHorn said:

Are you purchasing more, less, or the same?

Do you allow your employer to give you shitty raises?

LOLz.  It's my employers fault.

 

Fuck you.  They didn't drive up prices.

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Incredulity

Incredulity 11555

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https://wap.business-standard.com/article-amp/international/there-will-be-blood-on-streets-google-execs-warn-employees-about-layoffs-122081300370_1.html

 

Google executives have reportedly warned workers to either boost performance or prepare to leave as "there will be blood on the streets" if the next quarterly earnings are not good

 

a boatload of tech bros and remote laptop people are getting ready to find out.

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Biff Tannen

Biff Tannen 45495

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1 hour ago, Incredulity said:

https://wap.business-standard.com/article-amp/international/there-will-be-blood-on-streets-google-execs-warn-employees-about-layoffs-122081300370_1.html

 

Google executives have reportedly warned workers to either boost performance or prepare to leave as "there will be blood on the streets" if the next quarterly earnings are not good

 

a boatload of tech bros and remote laptop people are getting ready to find out.

dude, that "website" isn't recognized on the media bias chart and it looks like it was made in 1995.  

Also at the end of the "article":

Quote

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

What does that mean?

Edited by Biff Tannen
The links on the menu don't go anywhere. Where the fuck are you getting your "news"?
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StassneyHorn

StassneyHorn 6540

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57 minutes ago, Incredulity said:

Double Couponing!!!  Drink.

I think this is your 3rd time to say dumb shit about couponing, without it meaning a single thing. You didn’t get the recession you envisioned would hit people, but drunkenly not understanding math isn’t the slam you think it is.

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StassneyHorn

StassneyHorn 6540

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38 minutes ago, Incredulity said:

https://wap.business-standard.com/article-amp/international/there-will-be-blood-on-streets-google-execs-warn-employees-about-layoffs-122081300370_1.html

 

Google executives have reportedly warned workers to either boost performance or prepare to leave as "there will be blood on the streets" if the next quarterly earnings are not good

 

a boatload of tech bros and remote laptop people are getting ready to find out.

And they’ll have a new job at another tech company by the end of the week with Google in their resume.

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Incredulity

Incredulity 11555

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5 minutes ago, StassneyHorn said:

I think this is your 3rd time to say dumb shit about couponing, without it meaning a single thing. You didn’t get the recession you envisioned would hit people, but drunkenly not understanding math isn’t the slam you think it is.

Homemade sandwich for lunch….Check.

Public transit from urban condo to job…Check.

Price shop quarts of milk at Central Market…Check.

 

any other inflation hot tips?

 

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Humble Beast

Humble Beast 258

Posted
Posted
11 minutes ago, StassneyHorn said:

I think this is your 3rd time to say dumb shit about couponing, without it meaning a single thing. You didn’t get the recession you envisioned would hit people, but drunkenly not understanding math isn’t the slam you think it is.

A little early to be spiking the football on the recession being no big deal. The Fed wants a recession so we’re going to get a real one. 

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