Joe Biden 2022: Enter Dark Brandon

[Incredulity 11876]

11 minutes ago, Js1 said:

Fuck off troll

[Dutchrudder 11243]

24 minutes ago, Incredulity said:

lol

Inflation is at least slowing down, although I think the Fed rate increases have more to do with it than anything else.  What exactly is the inflation reduction plan from the Republicans? What would they be doing differently that would stop or slow inflation? 

[Incredulity 11876]

Just now, Dutchrudder said:

Inflation is at least slowing down,

who's going to tell him?

[chainsaw 10295]

15 minutes ago, Dutchrudder said:

Inflation is at least slowing down, although I think the Fed rate increases have more to do with it than anything else.  What exactly is the inflation reduction plan from the Republicans? What would they be doing differently that would stop or slow inflation? 

tax cuts for the rich and 20 trillion for a border wall and a gestapo

[Bozo_Casanova 26851]

20 minutes ago, Dutchrudder said:

Inflation is at least slowing down,

 

19 minutes ago, Incredulity said:

who's going to tell him?

good point.
@Dutchrudder, right you are, sir. "Core inflation" increased in August. But CPI, which includes food and energy, went down as show below. 
But who cares about food?

Edited September 13, 2022 by Bozo_Casanova

[Anastasis 23720]

43 minutes ago, Bozo_Casanova said:

 

But who cares about food?

 

 

Help me interpret these numbers as they relate to CPI and food in particular.

 

Food Inflation	11.40	10.90	percent	Aug 2022
Energy Inflation	23.81	32.93	Percent	Aug 2022

[Pato del Muerto 53508]

Year over year vs month to month?

[Anastasis 23720]

This is the text that accompanies the chart that was linked.

The annual inflation rate in the US eased for a second straight month to 8.3% in August of 2022, the lowest in 4 months, from 8.5% in July but above market forecasts of 8.1%. The energy index increased 23.8%, below 32.9% in July. Smaller increases were reported for gasoline costs (25.6% vs 44%) and fuel oil (68.8% vs 75.6%) while inflation sped up for natural gas (33% vs 30.5%) and electricity (15.8%, the highest since August 1981). On the other hand, inflation rose for food (11.4%, the most since 1979), shelter (6.2%, the most since 1984), and used cars and trucks (7.8%). Compared to the previous month, consumer prices were up 0.1%, following a flat reading in July and compared to forecasts of a 0.1% drop. Meanwhile, core CPI, which excludes volatile energy and food prices, increased 6.3% on a year, the most since March, and up markedly from 5.9% hit in both June and July.

Edited September 13, 2022 by Anastasis

[Anastasis 23720]

2 minutes ago, Pato del Muerto said:

Year over year vs month to month?

more like sleight of hand. 

[Pato del Muerto 53508]

3 minutes ago, Anastasis said:

Compared to the previous month, consumer prices were up 0.1%, following a flat reading in July and compared to forecasts of a 0.1% drop. Meanwhile

Up vs last august, but fairly static vs last month.   No?

[Anastasis 23720]

2 minutes ago, Pato del Muerto said:

Up vs last august, but fairly static vs last month.   No?

Who cares about food?

[Guest]

Why would Joe Biden do this to the world?!

[Dutchrudder 11243]

1 hour ago, Incredulity said:

who's going to tell him?

You don't think it's slowing down?  Ok. 

Anyways, do you actually have any ideas or economic principles that would guide policy and action to curb inflation?  Anything of substance?

[Gil Bang 26241]

Just a little note about gas prices; I recently (last week) drove through parts of AL and FL.  The gas was cheaper than CA , of course, but the diesel was still high...as much as 1.50 higher than gas.   Out here, Diesel runs about .50 higher than gas.  
 

What's up with that? 

[RDCanecutter 26893]

1 minute ago, Gil Bang said:

Just a little note about gas prices; I recently (last week) drove through parts of AL and FL.  The gas was cheaper than CA , of course, but the diesel was still high...as much as 1.50 higher than gas.   Out here, Diesel runs about .50 higher than gas.  
 

What's up with that? 

I knew you were jetting through with a satchel full o' Californy money, so I put the word out to hike it up.

[Js1 87186]

7 minutes ago, Dutchrudder said:

You don't think it's slowing down?  Ok. 

Anyways, do you actually have any ideas or economic principles that would guide policy and action to curb inflation?  Anything of substance?

You know they don’t. 

[DDD Dad 14652]

2 minutes ago, Gil Bang said:

Just a little note about gas prices; I recently (last week) drove through parts of AL and FL.  The gas was cheaper than CA , of course, but the diesel was still high...as much as 1.50 higher than gas.   Out here, Diesel runs about .50 higher than gas.  
 

What's up with that? 

[chainsaw 10295]

52 minutes ago, FirstTimeCaller said:

Why would Joe Biden do this to the world?!

China wins. Let's give them the keys to the government

[Grade of D as in David 13255]

2 minutes ago, DDD Dad said:

Beat me to it.

[Pato del Muerto 53508]

5 minutes ago, Gil Bang said:

Just a little note about gas prices; I recently (last week) drove through parts of AL and FL.  The gas was cheaper than CA , of course, but the diesel was still high...as much as 1.50 higher than gas.   Out here, Diesel runs about .50 higher than gas.  
 

What's up with that? 

It’s about a buck fifty higher here too. Shall we assume California has more taxes on gasoline that it doesn’t have for diesel, as a more commercial use fuel?

[RDCanecutter 26893]

I was trapped in Joann Fabrics with Mrs. Canecutter, and they have a long cattle chute to the register lined with impulse buys, mostly candy.

On that day in Joann, 2022, their prices in dollars were the same as I paid in Mexican pesos in 2003. Like a 4 peso piece of chocolate was $3.99 at Joann.

I know they jack things up for people who are too chi-chi for Wally World, but damn. Might have to grow my own chocolate. Sell it outside Joann.

[tx 3 putt 78687]

2 hours ago, chainsaw said:

China wins. Let's give them the keys to the government

china reporting their numbers 

[chainsaw 10295]

35 minutes ago, tx 3 putt said:

china reporting their numbers 

Maybe, but it's kind of hard to hide prices.

[Humble Beast 258]

3 hours ago, Dutchrudder said:

You don't think it's slowing down?  Ok. 

Anyways, do you actually have any ideas or economic principles that would guide policy and action to curb inflation?  Anything of substance?

Not unilaterally granting inflationary student loan forgiveness. Not passing inflationary American Rescue Plan. Not passing inflationary Inflation Reduction Act. 

[StassneyHorn 6775]

Your kids table of an inflation thread is in 6stJ

Edited September 14, 2022 by StassneyHorn

[Dutchrudder 11243]

50 minutes ago, Humble Beast said:

Not unilaterally granting inflationary student loan forgiveness. Not passing inflationary American Rescue Plan. Not passing inflationary Inflation Reduction Act. 

So do nothing and hope it works itself out?

[Homercles 10206]

Can someone school me better on inflation?  Obviously the Party Of No gang will point fingers at recent legislation meant to help people and do some legit investing…but I thought the main drivers were a surge in demand following Covid relaxations, compounded via slower recovery on the supply side (particularly long lead items), and aggravated by excessive monetary policy (artificially low rates, relief spending, etc).  

What am I missing?  There was a lot of pressure to keep prime rates low, ‘Dow 25k’ hats, dumbass ‘middle class’ tax break and the poorly-managed loan program in the US…but it’s a global problem.  Airlines are a perfect example, canceling flights due to lack of equipment and crews, contracting too far too fast in the interests of short term financial performance + assuming Covid lockdowns / demand suppression would last far longer.  
 

Rates needed to be raised while the supply-side catches back up and cool demand a bit.  It’s gonna suck, for awhile.  Maybe super-lean manuf chasing low overhead isn’t optimal for all industries.  Throw in climate change.  
 

There’s no easy answers, right?  Not shocked the usual suspects blame Biden when it seems these seeds were sown ages ago.  It’s an outrage no matter what a Dem admin does or doesn’t do.  Seems this shit always follows a ‘low taxes, no regulation’ admin.  

[YChang 3569]

1 minute ago, Homercles said:

There’s no easy answers, right? 

I mean basically there’s no easy answer. And economist can’t exactly reference historical precedent… since we’ve never experienced a global pandemic that shut down nearly everything. There is no panacea other than best guesses/assumptions. It’s why the Fed has gone from inflation is transitory to well, time to do hike up the rates,  it’s gonna hurt everyone (stupid stock market) and best we can hope for is a soft-ish landing. 

[Js1 87186]

10 minutes ago, Dutchrudder said:

So do nothing and hope it works itself out?

After they cut taxes to corporations and 1%. 

[aggie08 21800]

8 minutes ago, Dutchrudder said:

So do nothing and hope it works itself out?

No, no, no. You obstruct so nothing can get done. That's the GOP way. Doing nothing would be an improvement.

[Humble Beast 258]

1 hour ago, StassneyHorn said:

Your kids table of an inflation thread is in 6stJ

Yeah there’s a lot of heavy hitters here. We’ve already had one of the smart ones try to put a partisan spin on a report universally viewed as hot/not good and he was subsequently pantsed.
 

There’s a reason markets tanked today. Participants realized the Fed is a long way from getting things under control, much less approaching their 2% target.
 

1 hour ago, Dutchrudder said:

So do nothing and hope it works itself out?

 

59 minutes ago, aggie08 said:

No, no, no. You obstruct so nothing can get done. That's the GOP way. Doing nothing would be an improvement.

If you have a fire, doing nothing is an improvement over throwing gas on it. 
 

 

[Dutchrudder 11243]

4 minutes ago, Humble Beast said:

 

If you have a fire, doing nothing is an improvement over throwing gas on it. 
 

 

Of course, but if you can't even explain what water is, then we aren't going to be putting it out any time soon and the neighbors house is about to catch fire...

[Sawbonz 28223]

26 minutes ago, Humble Beast said:

There’s a reason markets tanked today.

Yeah there’s an equity bubble and it’s letting off some steam. Got a hell of a way to go

[Gil Bang 26241]

oh

 

 

[David Dennison 19542]

3 hours ago, Humble Beast said:

Not unilaterally granting inflationary student loan forgiveness. Not passing inflationary American Rescue Plan. Not passing inflationary Inflation Reduction Act. 

What about inflationary tax cuts? Are those OK?

[elfenix 34752]

rick scott, who presided over the largest medicare fraud in US history, should always be introduced as, "rick scott, who presided over the largest medicare fraud in US history."

[StassneyHorn 6775]

4 hours ago, Humble Beast said:

We’ve already had one of the smart ones try to put a partisan spin on a report universally viewed as hot/not good and he was subsequently pantsed.
 

There’s a reason markets tanked today. Participants realized the Fed is a long way from getting things under control, much less approaching their 2% target.
 

 

Pulling your hair out over 0.1-0.2% changes when the only “hot” aspect of the report is Core CPI, is why institutional traders should be given an Econ textbook instead of a Series 7 study guide when they start their first day out of college.

[wildcat09 29579]

7 hours ago, elfenix said:

rick scott, who presided over the largest medicare fraud in US history, should always be introduced as, "rick scott, who presided over the largest medicare fraud in US history."

I find it insane that his political opponents seem to have never bothered trying to use that against him.

[Js1 87186]

Just now, wildcat09 said:

I find it insane that his political opponents seem to have never bothered trying to use that against him.

I mean, it’s Florida. They’re probably jealous of the Brett Favre news because they didn’t think of it first 

[Mrs Whiggins 13050]

I dunno, maybe I'm just a dumb grocery shopper but when I see higher meat prices for beef and chicken at the grocery store I don't look at the Oval Office, I look at the weather and the corporate producers. Drought for months, bird flu, packer consolidation, those have an effect on prices that seems much more immediate.

[Captainant 28539]

10 minutes ago, Mrs Whiggins said:

I dunno, maybe I'm just a dumb grocery shopper but when I see higher meat prices for beef and chicken at the grocery store I don't look at the Oval Office, I look at the weather and the corporate producers. Drought for months, bird flu, packer consolidation, those have an effect on prices that seems much more immediate.

But then what grievances would you have to post thinly veiled partisan talking points about in a business board thread?

[Guest]

11 hours ago, Homercles said:

Can someone school me better on inflation?  Obviously the Party Of No gang will point fingers at recent legislation meant to help people and do some legit investing…but I thought the main drivers were a surge in demand following Covid relaxations, compounded via slower recovery on the supply side (particularly long lead items), and aggravated by excessive monetary policy (artificially low rates, relief spending, etc).  

What am I missing?  There was a lot of pressure to keep prime rates low, ‘Dow 25k’ hats, dumbass ‘middle class’ tax break and the poorly-managed loan program in the US…but it’s a global problem.  Airlines are a perfect example, canceling flights due to lack of equipment and crews, contracting too far too fast in the interests of short term financial performance + assuming Covid lockdowns / demand suppression would last far longer.  
 

Rates needed to be raised while the supply-side catches back up and cool demand a bit.  It’s gonna suck, for awhile.  Maybe super-lean manuf chasing low overhead isn’t optimal for all industries.  Throw in climate change.  
 

There’s no easy answers, right?  Not shocked the usual suspects blame Biden when it seems these seeds were sown ages ago.  It’s an outrage no matter what a Dem admin does or doesn’t do.  Seems this shit always follows a ‘low taxes, no regulation’ admin.  

My take is that no one needs to school you on inflation -- you need to school others on it.

Your take is precisely what I think is going on. Add in that the Fed was slow to raise rates (really only started 4-5 months ago) and you have the current situation. 

[Js1 87186]

Everyone knows the “high inflation” button is right on the resolute desk next to the “high gas prices” button but on the opposite side of the Diet Coke button 

[Mrs Whiggins 13050]

Aren't we still paying for tariffs on certain imports as well? Biden didn't remove all of them when I took office right(?), so am I correct to believe that those are adding to consumer costs?

['stache 22144]

On 9/12/2022 at 6:28 PM, henrygandorf said:

edit to add - per the article, among dems he now has a 76/17 approval.  so that's a pretty noticeable chunk of dems that don't approve of biden, but it's not like they're gonna turn around and vote for a bunch of extreme maga candidates in the midterms.

if younger americans are paying attention at all and start actually voting, that will doom the current gop.

Legalize pot in October. Come on, we fucking need both houses or we're proper fucked.

[Humble Beast 258]

6 hours ago, StassneyHorn said:

Pulling your hair out over 0.1-0.2% changes when the only “hot” aspect of the report is Core CPI, is why institutional traders should be given an Econ textbook instead of a Series 7 study guide when they start their first day out of college.

They’re playing off what the Fed/Powell’s response will be. But the big kids here already knew that.

 

[David Dennison 19542]

6 minutes ago, Humble Beast said:

They’re playing off what the Fed/Powell’s response will be. But the big kids here already knew that.

You mean the organization that flooded the economy with cash for years? That Fed?

[Humble Beast 258]

7 minutes ago, David Dennison said:

You mean the organization that flooded the economy with cash for years? That Fed?

Yes. Precisely. If you’re looking for someone to take up for the Fed or our incredibly centralized system, you have the wrong guy to put it mildly. 

[David Dennison 19542]

19 minutes ago, Humble Beast said:

Yes. Precisely. If you’re looking for someone to take up for the Fed or our incredibly centralized system, you have the wrong guy to put it mildly. 

So let me get this straight: the Fed distributed cash to some of America's largest banks for years while the Trump administration cut taxes for the rich and handed out the first round of checks for COVID relief, but inflation is Joe Biden's fault because he continued said relief and supplemented it with an infrastructure bill and a partial student loan forgiveness program that doesn't even apply to all borrowers. Do I have that right?

 

[Longhorn_Fan68 34106]

9 hours ago, elfenix said:

rick scott, who presided over the largest medicare fraud in US history, should always be introduced as, "rick scott, who presided over the largest medicare fraud in US history."

Rick Scott presided over the largest medicare fraud in US history?