This economy is so bad

[RLLD 3,455]

Just now, Raven Fan said:

What do you think he should have said?  It will be gone by Easter?  15 people sick and that's it?

Inflation was driven by jacked up supply chains and the massive infusion of $'s Trump pumped into the economy.  That is an indisputable fact.  Biden's stupid stimulus made it worse, but like 7% to 9% worse.  Just look at what inflation was in June, barely any of Biden's covid bill had been spent.  Reminder that Trump added another $800T in covid spending in December.

And the inflation lasted what 18 months?  That's an amazing recovery compared to years past.

 

I might suggest he would have done what he has done in every other instance, blame Trump or "MAGA-something".  A behavior which is also not unique to Biden, but is part and parcel of pretty much every President.....blame the other guy.

But he did not do that, and I find that curious.  

It could be that when he announced his intended actions against energy companies, resulting in speculators driving up prices, and the footprint of that action impacting everything in our lives that the resulting inflation was something he anticipated people would naturally attribute to him.  In reality he should have done the normal blaming game.....but he didnt.....

Instead he simply pretending it wasnt happening. How odd......

Every President spends, and every congress spends, regardless of their political affiliation, they are politicians...they lie....once they get power they spend....hence a multi-trillion dollar deficit.

What was unique here was the act to not blame where he reasonably could have.

Later he would admit it, then call it transitory...."transitory".  He did not point to Trump, but instead moved to defend himself and his policies by trying to soften it......he gave up pretending it wasnt real, and started pretending it was temporary....until he could no longer float that lie.....

 

[Raven Fan 362]

9 minutes ago, RLLD said:

I might suggest he would have done what he has done in every other instance, blame Trump or "MAGA-something".  A behavior which is also not unique to Biden, but is part and parcel of pretty much every President.....blame the other guy.

But he did not do that, and I find that curious.  

It could be that when he announced his intended actions against energy companies, resulting in speculators driving up prices, and the footprint of that action impacting everything in our lives that the resulting inflation was something he anticipated people would naturally attribute to him.  In reality he should have done the normal blaming game.....but he didnt.....

Instead he simply pretending it wasnt happening. How odd......

Every President spends, and every congress spends, regardless of their political affiliation, they are politicians...they lie....once they get power they spend....hence a multi-trillion dollar deficit.

What was unique here was the act to not blame where he reasonably could have.

Later he would admit it, then call it transitory...."transitory".  He did not point to Trump, but instead moved to defend himself and his policies by trying to soften it......he gave up pretending it wasnt real, and started pretending it was temporary....until he could no longer float that lie.....

 

He did zero to impact world wide energy prices and you know that.  You also know that supply chains were wrecked when he took office.  The supply chains were the real issue behind skyrocketing inflation, tons of dollars in people's pockets (thanks Trump) chasing too few goods due to wrecked supply chains (thanks Trump).

And I'd call 18 months of inflation transitory.  Do you remember our inflation experience from the 70's/80's by any chance?

This latest version was a walk in the park comparatively. 

Oh, and I have no idea why he didn't blame Trump.  I'd have been banging that drum from day 1.  Biden's old and dumb and his team is kinda stupid though so it's not surprising. 

[RLLD 3,455]

14 minutes ago, Raven Fan said:

He did zero to impact world wide energy prices and you know that.  You also know that supply chains were wrecked when he took office.  The supply chains were the real issue behind skyrocketing inflation, tons of dollars in people's pockets (thanks Trump) chasing too few goods due to wrecked supply chains (thanks Trump).

And I'd call 18 months of inflation transitory.  Do you remember our inflation experience from the 70's/80's by any chance?

This latest version was a walk in the park comparatively. 

Oh, and I have no idea why he didn't blame Trump.  I'd have been banging that drum from day 1.  Biden's old and dumb and his team is kinda stupid though so it's not surprising. 

He DID impact prices.  Just as when any other nation impacts prices when they also move to restrict.  Supply and demand remains influential, and globally so. It is not useful to pretend otherwise.  To pretend such a notion might lead to inflation.

But my question remains.  If what you assert is true, then we can infer two things.

1) Biden did not know that Trump should be blamed, and did not even try to blame him.....even though in every other instance.....he DID blame him....which is odd.

OR

2) Biden understood his policies were fomenting inflation.

Now, with regard to the latter.....his may have been influenced by the array of economists and others who told him that his policies would result in inflation.

I think Joe Manchin did him a huge favor when he effectively blocked Biden from throwing more gas on the fire, Biden owes that man a thank you.

[Raven Fan 362]

12 minutes ago, RLLD said:

He DID impact prices.  Just as when any other nation impacts prices when they also move to restrict.  Supply and demand remains influential, and globally so. It is not useful to pretend otherwise.  To pretend such a notion might lead to inflation.

But my question remains.  If what you assert is true, then we can infer two things.

1) Biden did not know that Trump should be blamed, and did not even try to blame him.....even though in every other instance.....he DID blame him....which is odd.

OR

2) Biden understood his policies were fomenting inflation.

Now, with regard to the latter.....his may have been influenced by the array of economists and others who told him that his policies would result in inflation.

I think Joe Manchin did him a huge favor when he effectively blocked Biden from throwing more gas on the fire, Biden owes that man a thank you.

Not going back and forth with you.  Wrecked supply chains and a massive influx of of disposable cash from Trump in 2020 are the root of inflation.  Biden made it worse, but Biden's policies did not cause inflation to hit 6% in June.  To even try to argue that he somehow created that much inflation that fast despite barely any of his bill being spent is beyond ridiculous.

If you hold those beliefs fine.  I won't bother debating you though. 

[RLLD 3,455]

11 minutes ago, Raven Fan said:

Not going back and forth with you.  Wrecked supply chains and a massive influx of of disposable cash from Trump in 2020 are the root of inflation.  Biden made it worse, but Biden's policies did not cause inflation to hit 6% in June.  To even try to argue that he somehow created that much inflation that fast despite barely any of his bill being spent is beyond ridiculous.

If you hold those beliefs fine.  I won't bother debating you though. 

Of course.   You need not reply if you prefer not to.

I will await anyone who can perhaps answer why it might be that Biden has steadfastly not made the same assertions you have here. I would think that would help him with regard to the perception about his economic prowess.

How odd that he never tries to do so......notably given his propensity to blame others for every other thing....

[Raven Fan 362]

25 minutes ago, RLLD said:

Of course.   You need not reply if you prefer not to.

I will await anyone who can perhaps answer why it might be that Biden has steadfastly not made the same assertions you have here. I would think that would help him with regard to the perception about his economic prowess.

How odd that he never tries to do so......notably given his propensity to blame others for every other thing....

I answered this.  He and his team are dopes.  If they can't spin that despite the disaster Trump left how good things are now, well they deserve what they get.

Biden is getting curbstomped in November and the dems deserve every smack for not replacing him. 

[The Real timschochet 2,939]

I was talking to some finance guys from Minnesota down at the pool yesterday and they seemed very confident that interest rates would be lowered seriously by the summertime. One of them, not a fan of Biden, said “hey Biden needs them to go down so they’ll go down. Usually happens in an election year.” 
 

If that’s true then home buying will go up and consumer confidence will increase. Let’s hope so. 

[Hardcore troubadour 12,653]

Biden was right about it being transitory. We transitioned to higher prices and they stayed there. 

[Raven Fan 362]

6 minutes ago, Hardcore troubadour said:

Biden was right about it being transitory. We transitioned to higher prices and they stayed there. 

LOL

Boyo you really really wouldn't want to see the impact of deflation if you're crying about inflation.

And why does everyone forget that wages are up quite bigly and have outpaced inflation the last 6 months.  In fact I believe real wages may be higher now than in 2020. 

But no, everyone cries about paying $8 for eggs because people are idiots and don't know how to shop to avoid getting screwed by companies.

[RLLD 3,455]

14 minutes ago, Raven Fan said:

I answered this.  He and his team are dopes.  If they can't spin that despite the disaster Trump left how good things are now, well they deserve what they get.

Biden is getting curbstomped in November and the dems deserve every smack for not replacing him. 

Dopes eh?   Perhaps you are correct. It would explain many of his other failures. 

[Raven Fan 362]

Just now, RLLD said:

Dopes eh?   Perhaps you are correct. It would explain many of his other failures. 

Like the border and the Afghan withdrawal, agree completely.

Dumb as a box of rocks they are.  And I'm about as libby as you can get without being all stupid libby and woke and crap. 

[RLLD 3,455]

12 minutes ago, The Real timschochet said:

I was talking to some finance guys from Minnesota down at the pool yesterday and they seemed very confident that interest rates would be lowered seriously by the summertime. One of them, not a fan of Biden, said “hey Biden needs them to go down so they’ll go down. Usually happens in an election year.” 
 

If that’s true then home buying will go up and consumer confidence will increase. Let’s hope so. 

I already predicted this, you might find it over in the Biden thread though.

I predicted this as well as some stuff around the border too.  He will pretend to be doing something, when in reality he is doing nothing appreciable.   Its a tactic. He would not be the first to do something like this.  And he already showed his inclination when he did the student loan thing to buy the youth vote as well.

[weepaws 2,460]

38 minutes ago, The Real timschochet said:

I was talking to some finance guys from Minnesota down at the pool yesterday and they seemed very confident that interest rates would be lowered seriously by the summertime. One of them, not a fan of Biden, said “hey Biden needs them to go down so they’ll go down. Usually happens in an election year.” 
 

If that’s true then home buying will go up and consumer confidence will increase. Let’s hope so. 

Buying votes has been around forever. HTH. 

[The Real timschochet 2,939]

3 minutes ago, weepaws said:

Buying votes has been around forever. HTH. 

Sure but it’s good for everyone if the rates go down. 

[RLLD 3,455]

1 minute ago, The Real timschochet said:

Sure but it’s good for everyone if the rates go down. 

It might be.  I would prefer they stick to working the problem and not be politically manipulated, but I also understand that is how the game is played.

There is an awful lot of excess to be wrung out of the economy, they need to be careful.

[weepaws 2,460]

Interest rates is a bad choice to gain votes.  

 Lower rates of course makes it easier for people to borrow money, but it’s money that most can’t pay back once the rates go back up, in which they will once the votes are counted, then we have more people in financial crisis.  And what help will those offer once elected, sink or swim.  

It’s a sad way to win any election.  But both candidates are sad.  

[thegeneral 1,414]

3 hours ago, The Real timschochet said:

I was talking to some finance guys from Minnesota down at the pool yesterday and they seemed very confident that interest rates would be lowered seriously by the summertime. One of them, not a fan of Biden, said “hey Biden needs them to go down so they’ll go down. Usually happens in an election year.” 
 

If that’s true then home buying will go up and consumer confidence will increase. Let’s hope so. 

This isn’t like some big secret.

Rates were raised to slow the economy down and take money out of it to cool inflation. 

[seafoam1 1,879]

Dang, the liberals are taking a beatdown. 

[Hardcore troubadour 12,653]

10 hours ago, thegeneral said:

This isn’t like some big secret.

Rates were raised to slow the economy down and take money out of it to cool inflation. 

What you have to keep in mind is that Tim is a lying sack of shitt. 

[RLLD 3,455]

11 hours ago, thegeneral said:

This isn’t like some big secret.

Rates were raised to slow the economy down and take money out of it to cool inflation. 

But here is the fun part, there is no real reason to lower rates.  But as we sit here, we already know they will do it.  And we know why. Its a game....

And later, of course, the powers that be will pretend this is some indication of their prowess and proof of their policies being good....when its not.... but people will eat that sh!t up....

So you have manipulative liars in power, abusing the stupid....and the stupid love them for it..... like an abusive relationship.....its odd

[thegeneral 1,414]

6 minutes ago, RLLD said:

But here is the fun part, there is no real reason to lower rates.  But as we sit here, we already know they will do it.  And we know why. Its a game....

And later, of course, the powers that be will pretend this is some indication of their prowess and proof of their policies being good....when its not.... but people will eat that sh!t up....

So you have manipulative liars in power, abusing the stupid....and the stupid love them for it..... like an abusive relationship.....its odd

Allowing people to borrow money at a better rate def has its advantages. The moves the Fed made with interest rates did seem in part to be effective. 

[RLLD 3,455]

Gavin Newsom's Problems May Be About To Get Worse

Quote

"California's policies have made it a difficult place to invest so we have rejected capital projects in the state," Walz said.

"Setting a margin penalty would absolutely discourage investments here. Further, these arbitrary attacks on a disfavored industry do more than this—they signal to every industry, entrepreneur, manufacturer, and employer that California is closed for business."

 

The lack of economic acumen among Democrats is remarkable.  I think they do not understand that their pandering to people has consequences. This is a great way to accelerate people leaving that state. The only problem I have with this is that among those leaving the state are the focking idiots that voted people like him in to office. I would prefer they remain in the sh!thole they are creating rather than pollute other areas being properly lead.

[RLLD 3,455]

Just now, thegeneral said:

Allowing people to borrow money at a better rate def has its advantages. The moves the Fed made with interest rates did seem in part to be effective. 

I have been a vocal critic of the fed going back to the 90's, here on this forearm.  In fact I predicted the early 2000's crash and also how and why it would happen, which at the time brought considerable consternation from folks here.....who chided me as being stupid and such, only to of course be proven right. I predicted the Lehman collapse as well as Bear Sterns....

I held the Fed in contempt for most of my life.

That being said, I have applauded them over the last year in how they have fought this inflation. I was waiting for them to make that mistake, and so far I feel they have done well.

Later, this year, they will cave to political pressure.  They will stop serving US and instead serve the desire of a political party to hold power.  That is a shame. And in the end it hurts the common person.

[seafoam1 1,879]

3 minutes ago, RLLD said:

I have been a vocal critic of the fed going back to the 90's, here on this forearm.  In fact I predicted the early 2000's crash and also how and why it would happen, which at the time brought considerable consternation from folks here.....who chided me as being stupid and such, only to of course be proven right. I predicted the Lehman collapse as well as Bear Sterns....

I held the Fed in contempt for most of my life.

That being said, I have applauded them over the last year in how they have fought this inflation. I was waiting for them to make that mistake, and so far I feel they have done well.

Later, this year, they will cave to political pressure.  They will stop serving US and instead serve the desire of a political party to hold power.  That is a shame. And in the end it hurts the common person.

And I can say with 100% certainty... 

....it will be Trump's fault. 

I think at this point in time, the liberal democrats out there have simply forgotten who the president is. For the past 8 years, it's all Trump all the time. Biden is their team's WR they split out wide to take a defender away from the play that always is going to Trump's side of the field for the attack. 

 

[thegeneral 1,414]

10 minutes ago, seafoam1 said:

And I can say with 100% certainty... 

....it will be Trump's fault. 

I think at this point in time, the liberal democrats out there have simply forgotten who the president is. For the past 8 years, it's all Trump all the time. Biden is their team's WR they split out wide to take a defender away from the play that always is going to Trump's side of the field for the attack. 

 

This is so dumb for so many reasons  

Bravo!

[seafoam1 1,879]

3 minutes ago, thegeneral said:

This is so dumb for so many reasons  

Bravo!

This is the expected response coming from a low IQ liberal.   

It's their go to. Be bop boo bop...

[HellToupee 749]

Home prices are going to  this year. Rate cuts are going to create a frenzy and until they come down enough for people with really good rates return to the market the inventory won’t be there

[thegeneral 1,414]

2 minutes ago, seafoam1 said:

This is the expected response coming from a low IQ liberal.   

It's their go to. Be bop boo bop...

What do you think the Fed should do with interest rates? What is your take on say the Prez pressuring them publicly? 

[thegeneral 1,414]

9 minutes ago, HellToupee said:

Home prices are going to  this year. Rate cuts are going to create a frenzy and until they come down enough for people with really good rates return to the market the inventory won’t be there

Sounds like you want rates to stay high. 

[RLLD 3,455]

19 minutes ago, thegeneral said:

This is so dumb for so many reasons  

Bravo!

Not dumb at all.

If a Republican were in office, they would blame the last Democrat.  This is how the game is played.  What WE should be doing is never believing them, at all......they will lie like this.....so lets stop pretending its anything real. 

[thegeneral 1,414]

1 minute ago, RLLD said:

Not dumb at all.

If a Republican were in office, they would blame the last Democrat.  This is how the game is played.  What WE should be doing is never believing them, at all......they will lie like this.....so lets stop pretending its anything real. 

This dumbass injects Trump into this convo that is about political pressure impacting the Fed despite what is good long term.

Trump was the most vocal Prez we have had in this regard and was always crying about interest rates not being at zero.

He’ll then piss his pants about people bringing up Trump .

Guy is special

[HellToupee 749]

42 minutes ago, thegeneral said:

Sounds like you want rates to stay high. 

I keep pushing back putting our house up for sale. Unfortunately I think 1st time home buyers are screwed in the next couple of years

[thegeneral 1,414]

1 minute ago, HellToupee said:

I keep pushing back putting our house up for sale. Unfortunately I think 1st time home buyers are screwed in the next couple of years

They are typically winners and losers to some extent I guess. 

Would you like to see interest rates lowered or stay the same?

[RLLD 3,455]

36 minutes ago, thegeneral said:

This dumbass injects Trump into this convo that is about political pressure impacting the Fed despite what is good long term.

Trump was the most vocal Prez we have had in this regard and was always crying about interest rates not being at zero.

He’ll then piss his pants about people bringing up Trump .

Guy is special

I don't understand.....

[HellToupee 749]

3 minutes ago, thegeneral said:

They are typically winners and losers to some extent I guess. 

Would you like to see interest rates lowered or stay the same?

Lower rates but they can’t be lowered to fast for election purposes. That would really screw things up

[thegeneral 1,414]

7 minutes ago, RLLD said:

I don't understand.....

For some reason this dude brought up Trump and him being blamed or whatever when he no one was talking about this. Bonus irony points for Trump being thr biggest culprit of what you are complaining about. 

[Raven Fan 362]

21 minutes ago, HellToupee said:

I keep pushing back putting our house up for sale. Unfortunately I think 1st time home buyers are screwed in the next couple of years

Yep, first time buyers are hosed.  We got so upside down regarding new builds, inventory, and stupid low interest rates from the mid-2010's through 2020 that it will take years to get back to equilibrium.

I think a real recession where unemployment goes to 2020 levels is the only thing that will bring down housing cost. 

[Hardcore troubadour 12,653]

Savers punished on behalf of Wall Street. 

[RLLD 3,455]

6 minutes ago, Hardcore troubadour said:

Savers punished on behalf of Wall Street. 

Not just savers.....all people in the middle ( and lower) classes.....

[thegeneral 1,414]

9 minutes ago, Hardcore troubadour said:

Savers punished on behalf of Wall Street. 

How so?