2021 - Is inflation finally back in the conversation?

[52-80 19096]

9 hours ago, slorch said:

Relieving individual debt to colleges incentivizes them to lower costs how? 

...

They just throw some pretty words in a bowl until it sounds good or what?  It's a victory lap for lighting money on fire.  Our money.

There's literally nothing in it.  On Wednesday after they had announced having "already taken key steps to strengthen accountability", I posted that there was nothing on DOE, WH, website that details lists of actionable things as promised here:

"This Administration has already taken key steps to strengthen accountability...[including] new efforts to ensure borrowers get value for their college costs"

 

Yesterday, they put this up on Twitter:

"[DOE] will also publish an annual list of colleges that leave students with unmanageable debt so that students can avoid these programs."

A list, bro!  They're going to Scarlet Letter ITT and Corinthian [who????], because that's really the source of the debt ballooning.


It's platitudinous words for the low IQ voters. 

 

Anyway, in other news, as part of my announcement to date supermodels, I'm holding good looking girls responsible.  My predecessors looked the other way. I'm taking them head on.  

[Cheeseweasel 26437]

"Aggie announces they will be winning a National Championship"

[52-80 19096]

8 minutes ago, Cheeseweasel said:

"Aggie announces they will be winning a National Championship"

Key steps include throwing a pool party to attract Archie Manning

[Cheeseweasel 26437]

1 minute ago, 52-80 said:

Key steps include throwing a pool party to attract Archie Manning

He's on the list.

[jimmyjazz 45560]

Arch ~ Quinn > Archie > Hudson

[52-80 19096]

16 minutes ago, jimmyjazz said:

Arch ~ Quinn > Archie > Hudson

Heard should starts.

[Humble Beast 258]

5 hours ago, 52-80 said:

There's literally nothing in it.  On Wednesday after they had announced having "already taken key steps to strengthen accountability", I posted that there was nothing on DOE, WH, website that details lists of actionable things as promised here:

"This Administration has already taken key steps to strengthen accountability...[including] new efforts to ensure borrowers get value for their college costs"

 

Yesterday, they put this up on Twitter:

"[DOE] will also publish an annual list of colleges that leave students with unmanageable debt so that students can avoid these programs."

A list, bro!  They're going to Scarlet Letter ITT and Corinthian [who????], because that's really the source of the debt ballooning.


It's platitudinous words for the low IQ voters. 

 

Anyway, in other news, as part of my announcement to date supermodels, I'm holding good looking girls responsible.  My predecessors looked the other way. I'm taking them head on.  

 

 

54 minutes ago, Cheeseweasel said:

"Aggie announces they will be winning a National Championship"

 

[washparkhorn 9935]

Dove Fed Neil Kashkari happy with stock market plunge - “market understands the Fed is serious about inflation.”

https://www.msn.com/en-ca/money/topstories/feds-kashkari-happy-with-market-reaction-to-powell-speech-bloomberg/ar-AA11fv7I?fromMaestro=true

 

Quote

"I was actually happy to see how Chair Powell's Jackson Hole speech was received," Kashkari told Bloomberg's Odd Lots podcast. "People now understand the seriousness of our commitment to getting inflation back down to 2%."

All three U.S stock benchmarks lost more than 3% on Friday after Powell told the annual central bankers conference in Jackson Hole, Wyoming, that the Fed would raise interest rates as high as needed to slow growth and soften the labor market.

Fed Thomas Barkin confirms inflation reduction is job one for Fed. 
 

tldr - “Dread the Angry Dove.”

[Cheeseweasel 26437]

Just now, washparkhorn said:

Dove Fed Neil Kashkari happy with stock market plunge

[washparkhorn 9935]

good news = bad news (?)

https://www.conference-board.org/topics/consumer-confidence

Quote

The Conference Board Consumer Confidence Index® increased in August, following three consecutive monthly declines. The Index now stands at 103.2 (1985=100), up from 95.3 in July. The Present Situation Index—based on consumers’ assessment of current business and labor market conditions—improved to 145.4 from 139.7 last month. The Expectations Index—based on consumers’ short-term outlook for income, business, and labor market conditions—increased to 75.1 from 65.6.

 

J Powell is getting very angry. 

 

[52-80 19096]

1 hour ago, washparkhorn said:

Dove Fed Neil Kashkari happy with stock market plunge - “market understands the Fed is serious about inflation.”

https://www.msn.com/en-ca/money/topstories/feds-kashkari-happy-with-market-reaction-to-powell-speech-bloomberg/ar-AA11fv7I?fromMaestro=true

 

Fed Thomas Barkin confirms inflation reduction is job one for Fed. 
 

tldr - “Dread the Angry Dove.”

*Neel.  But he also goes by "Imhotep"

 

[Captainant 27465]

Lol this has nothing to do with inflation, we should probably move this to a more appropriate thread.

edit: sorry for the derail, feel free to continue over here 

 

Edited August 30, 2022 by Captainant

[blacklab 11850]

Lets keep this on topic please.

[Humble Beast 258]

 

[Humble Beast 258]

 

[torre 1284]

For review by the Surly Federal Reserve Board:

 

Financial markets investors worry the U.S. is on the brink of an economic downturn as central bankers in Jackson Hole reaffirmed their determination to raise interest rates to bring inflation under control. 

Steve Hanke, a professor of applied economics at Johns Hopkins University, said that he believes the U.S. is heading for a “whopper” of a recession next year, but it’s not necessarily because of higher benchmark interest rates.

“We will have a recession because we’ve had five months of zero M2 growth–money supply growth, and the Fed isn’t even looking at it,” Hanke said in an interview with CNBC on Monday. “We’re going to have one whopper of a recession in 2023.”

M2 is a measure of the money supply that includes cash, checking and saving deposits, and shares in retail money mutual funds. Widely used as an indicator of the amount of currency in circulation, the M2 measure has stagnated since February 2022, following “an unprecedented growth of money supply” starting with the COVID-19 pandemic in February 2020. (See chart below) 

“There had never been sustained inflation in world history – that is inflation above 4% for about two years – that had not been the result of unprecedented growth of money supply, which we had starting with COVID in February of 2020,” Hanke said. “That is why we’re having inflation now, and that’s why, by the way, we will continue to have inflation through 2023 going into probably 2024.”

U.S. inflation eased in July with the Consumer Price Index increasing 8.5% from a year earlier, down from a 41-year high of 9.1% in June, raising hopes that a surge in price level may have peaked.

But according to Hanke, he predicted last year that U.S. inflation would be somewhere between 6% and 9% in 2022. “We hit the bullseye with that model. Now the model is running at between 6% and 8% at the end of this year on a year-over-year basis, and 5% at the end of 2023 going into 2024,” he told CNBC.

See: Fed likely needs to push interest rates above 3.5%, and hold them there until 2024, Williams says

However, Chair Powell reaffirmed in his Jackson Hole speech last Friday that the central bank still plans to continue raising interest rates to return inflation to their 2% target, even if it results in “some pain” for U.S. households and businesses.

“The problem we have is that the Chairman does not understand, even at this point, what the causes of inflation are and were,” Hanke said. “He’s still going on about supply-side glitches. He has failed to tell us that inflation is always caused by excess growth in the money supply, turning the printing presses on.”

 

 

Hanke is not the only one predicting a much deeper economic downturn that could last into 2024. Stephen Roach, former chairman of Morgan Stanley Asia and former Federal Reserve economist, warns the U.S. needs a “miracle” to avoid a recession.

“We’ll definitely have a recession as the lagged impacts of this major monetary tightening start to kick in,” Roach told CNBC on Monday. “They haven’t kicked in at all right now.” 

Roach said Chairman Powell has no choice but to take a Paul Volcker approach to tightening. Volcker served as the 12th chair of the Federal Reserve from 1979 to 1987. During his tenure, Volcker aggressively hiked interest rates and successfully wrung inflation out of the economy, but at a great cost – tipping the economy into two consecutive recessions with stock market crashes and high unemployment. 

“Go back to the type of pain Paul Volcker had to impose on the U.S. economy to ring out inflation. He had to take the unemployment rate above 10%,” said Roach.

 

The unemployment rate was back to its pre-pandemic level in July and tied for the lowest since 1969. Nonfarm payrolls rose 528,000 in July, and the unemployment rate stood at 3.5%. 

However, markets await the August U.S. jobs report which is scheduled for release on Friday. Wall Street estimates the nonfarm payroll will show the economy adding 318,000 jobs in August. The unemployment rate is projected to stay flat at 3.5%, while the average hourly earnings are estimated to rise 0.4% following a 0.5% rise the previous month. 

 

U.S. stocks traded lower on Tuesday, extending a run of losses to a third straight session. Dow Jones Industrial Average DJIA, -0.96% slumped 230 points, or 0.7%, to 31,860. The S&P 500 SPX, -1.10% lost 37 points, or 0.9%, to 3,993. The Nasdaq Composite COMP, -1.12% declined 121 points, or 1%, to 11,896. Three major indexes are on pace to close below their 50-day moving average for the first time since July 18, 2022, according to Dow Jones Market Data. 

https://www.marketwatch.com/story/economist-predicts-a-whopper-of-recession-in-2023-and-thats-not-necessarily-due-to-higher-interest-rates-11661888255

 

[Humble Beast 258]

 

[Snake Diggity 4614]

10 hours ago, torre said:

For review by the Surly Federal Reserve Board:

 

Financial markets investors worry the U.S. is on the brink of an economic downturn as central bankers in Jackson Hole reaffirmed their determination to raise interest rates to bring inflation under control. 

Steve Hanke, a professor of applied economics at Johns Hopkins University, said that he believes the U.S. is heading for a “whopper” of a recession next year, but it’s not necessarily because of higher benchmark interest rates.

“We will have a recession because we’ve had five months of zero M2 growth–money supply growth, and the Fed isn’t even looking at it,” Hanke said in an interview with CNBC on Monday. “We’re going to have one whopper of a recession in 2023.”

M2 is a measure of the money supply that includes cash, checking and saving deposits, and shares in retail money mutual funds. Widely used as an indicator of the amount of currency in circulation, the M2 measure has stagnated since February 2022, following “an unprecedented growth of money supply” starting with the COVID-19 pandemic in February 2020. (See chart below) 

“There had never been sustained inflation in world history – that is inflation above 4% for about two years – that had not been the result of unprecedented growth of money supply, which we had starting with COVID in February of 2020,” Hanke said. “That is why we’re having inflation now, and that’s why, by the way, we will continue to have inflation through 2023 going into probably 2024.”

U.S. inflation eased in July with the Consumer Price Index increasing 8.5% from a year earlier, down from a 41-year high of 9.1% in June, raising hopes that a surge in price level may have peaked.

But according to Hanke, he predicted last year that U.S. inflation would be somewhere between 6% and 9% in 2022. “We hit the bullseye with that model. Now the model is running at between 6% and 8% at the end of this year on a year-over-year basis, and 5% at the end of 2023 going into 2024,” he told CNBC.

See: Fed likely needs to push interest rates above 3.5%, and hold them there until 2024, Williams says

However, Chair Powell reaffirmed in his Jackson Hole speech last Friday that the central bank still plans to continue raising interest rates to return inflation to their 2% target, even if it results in “some pain” for U.S. households and businesses.

“The problem we have is that the Chairman does not understand, even at this point, what the causes of inflation are and were,” Hanke said. “He’s still going on about supply-side glitches. He has failed to tell us that inflation is always caused by excess growth in the money supply, turning the printing presses on.”

 

 

Hanke is not the only one predicting a much deeper economic downturn that could last into 2024. Stephen Roach, former chairman of Morgan Stanley Asia and former Federal Reserve economist, warns the U.S. needs a “miracle” to avoid a recession.

“We’ll definitely have a recession as the lagged impacts of this major monetary tightening start to kick in,” Roach told CNBC on Monday. “They haven’t kicked in at all right now.” 

Roach said Chairman Powell has no choice but to take a Paul Volcker approach to tightening. Volcker served as the 12th chair of the Federal Reserve from 1979 to 1987. During his tenure, Volcker aggressively hiked interest rates and successfully wrung inflation out of the economy, but at a great cost – tipping the economy into two consecutive recessions with stock market crashes and high unemployment. 

“Go back to the type of pain Paul Volcker had to impose on the U.S. economy to ring out inflation. He had to take the unemployment rate above 10%,” said Roach.

 

The unemployment rate was back to its pre-pandemic level in July and tied for the lowest since 1969. Nonfarm payrolls rose 528,000 in July, and the unemployment rate stood at 3.5%. 

However, markets await the August U.S. jobs report which is scheduled for release on Friday. Wall Street estimates the nonfarm payroll will show the economy adding 318,000 jobs in August. The unemployment rate is projected to stay flat at 3.5%, while the average hourly earnings are estimated to rise 0.4% following a 0.5% rise the previous month. 

 

U.S. stocks traded lower on Tuesday, extending a run of losses to a third straight session. Dow Jones Industrial Average DJIA, -0.96% slumped 230 points, or 0.7%, to 31,860. The S&P 500 SPX, -1.10% lost 37 points, or 0.9%, to 3,993. The Nasdaq Composite COMP, -1.12% declined 121 points, or 1%, to 11,896. Three major indexes are on pace to close below their 50-day moving average for the first time since July 18, 2022, according to Dow Jones Market Data. 

https://www.marketwatch.com/story/economist-predicts-a-whopper-of-recession-in-2023-and-thats-not-necessarily-due-to-higher-interest-rates-11661888255

 

Aren’t we already in a recession?

I for one will be totally completely shocked if unemployment gets above 10% anytime in the next 18 months.

[Cheeseweasel 26437]

14 minutes ago, Snake Diggity said:

Aren’t we already in a recession?

[babysdaddy 2718]

1 hour ago, Snake Diggity said:

Aren’t we already in a recession?

I for one will be totally completely shocked if unemployment gets above 10% anytime in the next 18 months.

Here is a new term I've never seen before....growth recession

https://www.bloomberg.com/news/articles/2022-08-31/powell-abandons-soft-landing-goal-as-he-seeks-growth-recession

[Cheeseweasel 26437]

5 minutes ago, babysdaddy said:

Here is a new term I've never seen before....growth recession

In order for us to live, we must kill you and use you are fertilizer for the next generation of Billionaires. It's a sacrifice we are willing to have you make.

[ChickenSandwich 9798]

17 hours ago, torre said:

For review by the Surly Federal Reserve Board:

 

Financial markets investors worry the U.S. is on the brink of an economic downturn as central bankers in Jackson Hole reaffirmed their determination to raise interest rates to bring inflation under control. 

Steve Hanke, a professor of applied economics at Johns Hopkins University, said that he believes the U.S. is heading for a “whopper” of a recession next year, but it’s not necessarily because of higher benchmark interest rates.

“We will have a recession because we’ve had five months of zero M2 growth–money supply growth, and the Fed isn’t even looking at it,” Hanke said in an interview with CNBC on Monday. “We’re going to have one whopper of a recession in 2023.”

M2 is a measure of the money supply that includes cash, checking and saving deposits, and shares in retail money mutual funds. Widely used as an indicator of the amount of currency in circulation, the M2 measure has stagnated since February 2022, following “an unprecedented growth of money supply” starting with the COVID-19 pandemic in February 2020. (See chart below) 

“There had never been sustained inflation in world history – that is inflation above 4% for about two years – that had not been the result of unprecedented growth of money supply, which we had starting with COVID in February of 2020,” Hanke said. “That is why we’re having inflation now, and that’s why, by the way, we will continue to have inflation through 2023 going into probably 2024.”

U.S. inflation eased in July with the Consumer Price Index increasing 8.5% from a year earlier, down from a 41-year high of 9.1% in June, raising hopes that a surge in price level may have peaked.

But according to Hanke, he predicted last year that U.S. inflation would be somewhere between 6% and 9% in 2022. “We hit the bullseye with that model. Now the model is running at between 6% and 8% at the end of this year on a year-over-year basis, and 5% at the end of 2023 going into 2024,” he told CNBC.

See: Fed likely needs to push interest rates above 3.5%, and hold them there until 2024, Williams says

However, Chair Powell reaffirmed in his Jackson Hole speech last Friday that the central bank still plans to continue raising interest rates to return inflation to their 2% target, even if it results in “some pain” for U.S. households and businesses.

“The problem we have is that the Chairman does not understand, even at this point, what the causes of inflation are and were,” Hanke said. “He’s still going on about supply-side glitches. He has failed to tell us that inflation is always caused by excess growth in the money supply, turning the printing presses on.”

 

 

Hanke is not the only one predicting a much deeper economic downturn that could last into 2024. Stephen Roach, former chairman of Morgan Stanley Asia and former Federal Reserve economist, warns the U.S. needs a “miracle” to avoid a recession.

“We’ll definitely have a recession as the lagged impacts of this major monetary tightening start to kick in,” Roach told CNBC on Monday. “They haven’t kicked in at all right now.” 

Roach said Chairman Powell has no choice but to take a Paul Volcker approach to tightening. Volcker served as the 12th chair of the Federal Reserve from 1979 to 1987. During his tenure, Volcker aggressively hiked interest rates and successfully wrung inflation out of the economy, but at a great cost – tipping the economy into two consecutive recessions with stock market crashes and high unemployment. 

“Go back to the type of pain Paul Volcker had to impose on the U.S. economy to ring out inflation. He had to take the unemployment rate above 10%,” said Roach.

 

The unemployment rate was back to its pre-pandemic level in July and tied for the lowest since 1969. Nonfarm payrolls rose 528,000 in July, and the unemployment rate stood at 3.5%. 

However, markets await the August U.S. jobs report which is scheduled for release on Friday. Wall Street estimates the nonfarm payroll will show the economy adding 318,000 jobs in August. The unemployment rate is projected to stay flat at 3.5%, while the average hourly earnings are estimated to rise 0.4% following a 0.5% rise the previous month. 

 

U.S. stocks traded lower on Tuesday, extending a run of losses to a third straight session. Dow Jones Industrial Average DJIA, -0.96% slumped 230 points, or 0.7%, to 31,860. The S&P 500 SPX, -1.10% lost 37 points, or 0.9%, to 3,993. The Nasdaq Composite COMP, -1.12% declined 121 points, or 1%, to 11,896. Three major indexes are on pace to close below their 50-day moving average for the first time since July 18, 2022, according to Dow Jones Market Data. 

https://www.marketwatch.com/story/economist-predicts-a-whopper-of-recession-in-2023-and-thats-not-necessarily-due-to-higher-interest-rates-11661888255

 

Private payrolls grew by just 132,000 in August, ADP says in reworked jobs report

 

https://www.cnbc.com/amp/2022/08/31/adp-jobs-report-private-payrolls-grew-by-just-132000-in-august.html

[Incredulity 11555]

[washparkhorn 9935]

Perhaps corporate profits are a key driver of inflation?

Pre-tax:

Post-tax:

Capitalism requires competition on price to function efficiently. A “free market” does not equate to a “competitive market.”

[Incredulity 11555]

Besides inflaming idiots, a graph of corporate profit dollars isn’t very informative.

Corporate profits as a percentage of GDP has ranged between .12 and .08 since 2012. Decreasing from .11 in 2012 to .08 in Q1 2020.  It has shot right back up to .12 in the last two years. 
 

Now what happened in Q2 2020 that juiced demand?  Would it be 5 plus trillion of government stimulus spending?  Naaahhh, gotta be the evil corporations.

 

 

 

 

 

 

 

[washparkhorn 9935]

The subject is 2022 inflation, not 2020 monetary and fiscal stimulus. 

In the last quarter - Demand for goods slowed, but profits rose in a percentage greater than the go-go 90’s. 

Declining demand/spending in 2022. 

Inventories up in 2022

Profits:

Again - 2022 - profits up, despite greater inventories, less spending and less demand. 

But keep fucking that chicken - by all means.

 

 

Edited September 1, 2022 by washparkhorn

[Incredulity 11555]

26 minutes ago, washparkhorn said:

The subject is 2022 inflation, not 2020 monetary and fiscal stimulus

Really?

your assertion is they are not interrelated?  Or you just want to ignore root causes?

talk about chicken fucking, good christ.

[Incredulity 11555]

30 minutes ago, washparkhorn said:

Again - 2022 - profits up, despite greater inventories, less spending and less demand

You do understand what accrual accounting is, right?

[Upgrayedd 5806]

11 minutes ago, Incredulity said:

You do understand what accrual accounting is, right?

I’m not sure I do.  Can you explain?

[Incredulity 11555]

Just now, Upgrayedd said:

I’m not sure I do.  Can you explain?

Inventories building most likely would cause a delay or lag  in the improvement or degradation of profitability in relation to costs currently.  Profits are based on the actual cost of the inventory sold.  If the inventory is months old it can have a cheaper or more expensive cost versus what is being produced today. There is nuance depending on the accounting policies of the company.

[bernorange 8348]

Nuance?  Nuance?  Dear Lord sir!  There is no such thing (on Surly).

[babysdaddy 2718]

[bernorange 8348]

[Cheeseweasel 26437]

13 hours ago, Incredulity said:

Inventories building most likely would cause a delay or lag  in the improvement or degradation of profitability in relation to costs currently.  Profits are based on the actual cost of the inventory sold.  If the inventory is months old it can have a cheaper or more expensive cost versus what is being produced today. There is nuance depending on the accounting policies of the company.

YOU GOT FIFO'D 

[washparkhorn 9935]

[washparkhorn 9935]

Markets hoping for the predicted “Fed pause” after the next hike given the jobs numbers today. 

Next CPI report (Sep 13) looms large in that wager. 

I think a .75 hike is most likely as the Fed races for what they think is a neutral rate. The jobs number was mixed for Fed purposes. 

[Snake Diggity 4614]

22 hours ago, washparkhorn said:

Markets hoping for the predicted “Fed pause” after the next hike given the jobs numbers today. 

Next CPI report (Sep 13) looms large in that wager. 

I think a .75 hike is most likely as the Fed races for what they think is a neutral rate. The jobs number was mixed for Fed purposes. 

I think .75 is just about guaranteed.

I did think inflation would come down more by now.  I do expect the next CPI to be under 8% YoY but 4 months ago I would’ve predicted it to be under 5%.  We might not see YoY under 5% now until November.

[52-80 19096]

On 9/2/2022 at 3:41 PM, washparkhorn said:

aka Taco Bell vs Taco Cabana

[Humble Beast 258]

Strong dollar + money printing is wreaking havoc in Asia. 
 

 

 

[washparkhorn 9935]

4 hours ago, Humble Beast said:

+ money printing is wreaking havoc in Asia. 

Ummmm, not really . . .

 

Monetary base is shrinking, which causes the USD to rise. Add in the Fed’s austerity tools, and the USD grows stronger. 

[Humble Beast 258]

1 hour ago, washparkhorn said:

Ummmm, not really . . .

 

Monetary base is shrinking, which causes the USD to rise. Add in the Fed’s austerity tools, and the USD grows stronger. 

What would you call yield curve control with an unlimited central bank bid on government bonds? 

[washparkhorn 9935]

23 minutes ago, Humble Beast said:

What would you call yield curve control with an unlimited central bank bid on government bonds? 

“Shrinking”

The USD is strengthening because monetary tools have been deployed to make a USD more valuable. The Fed risks recession to fight the inflation beast.
 

The Doves became Hawks. Knock-on effects were always expected with this change. 

[Humble Beast 258]

Japan is continuously monetizing debt in the name of yield curve control. Literal money printing. And the Fed is tightening with USD getting much stronger. Both things can be true. And in the relative game of Forex it’s a double whammy. 

[washparkhorn 9935]

1 hour ago, Humble Beast said:

Japan is continuously monetizing debt in the name of yield curve control. Literal money printing. And the Fed is tightening with USD getting much stronger. Both things can be true.

Both are True. A strong USD hurts domestic firms who export goods and services (the goods and services priced in USD can become prohibitively expensive for foreign importers. Likewise, foreign goods sold in the US become relatively cheaper for US consumers, which hurts US producers and US labor (a deflationary headwind stoked by the Fed, intentionally). 
 

In the end, the Fed is playing a dangerous game to fight inflation. The cure may be worse than the disease. 

[statsman 5425]

There are trade offs. High inflation really sucks for people on fixed pensions, too old to re enter workforce. High interest rates suck for people who have to finance purchases (most people). 
 
Know who weathers these storms best? People who own lots of things with intrinsic value (property), you know, rich people. 
 
I do think that it’s a waste for the fed to raise interest rates before federal spending is controlled. The Fed is throwing water on the fire while the government is throwing gasoline on it. In this analogy, we have a limited amount of water. 

[Humble Beast 258]

12 hours ago, statsman said:

There are trade offs. High inflation really sucks for people on fixed pensions, too old to re enter workforce. High interest rates suck for people who have to finance purchases (most people). 
 
Know who weathers these storms best? People who own lots of things with intrinsic value (property), you know, rich people. 
 
I do think that it’s a waste for the fed to raise interest rates before federal spending is controlled. The Fed is throwing water on the fire while the government is throwing gasoline on it. In this analogy, we have a limited amount of water. 

To your point. 
 

This guy focuses a lot on tax receipts. As our interest on debt and entitlements grow, it becomes more and more important that they keep growing as well. Crushing inflation and a recession will tank revenues. 

Edited September 8, 2022 by Humble Beast

[Humble Beast 258]

 

[washparkhorn 9935]

The scary news today was the layoffs at Goldman Sachs. The little discarded vampire squid will spread their contagion whenever they land. Only thing worse than a GS cast-off is a discharged McKinsey sociopath. 
 

just an opinion, of course. No offense intended. 

Tomorrow is the big day for CPI data. Good luck out there. 

Edited September 12, 2022 by washparkhorn

[babysdaddy 2718]

The scary news today was the layoffs at Goldman Sachs. The little discarded vampire squid will spread their contagion whenever they land. Only thing worse than a GS cast-off is a discharged McKinsey sociopath. 
 
just an opinion, of course. No offense intended. 

Tomorrow is the big day for CPI data. Good luck out there. 

Sent from my iPhone using Tapatalk

[Incredulity 11555]

So many levels