ActionfigureJoe Posted March 21 Share Posted March 21 Quote Link to comment Share on other sites More sharing options...
Mainecat Posted March 21 Share Posted March 21 Yeah it’s horrible…. 39,828.46 +316.33 (0.80%)today Mar 21, 11:52 AM EDT Quote Link to comment Share on other sites More sharing options...
ActionfigureJoe Posted March 21 Author Share Posted March 21 1 minute ago, Mainecat said: Yeah it’s horrible…. 39,828.46 +316.33 (0.80%)today Mar 21, 11:52 AM EDT There’s a small segment of the US population that benefits from the extreme profits corporations are taking in. The rest have to pay inflated prices for these corporate products. Quote Link to comment Share on other sites More sharing options...
Bontz Posted March 21 Share Posted March 21 Yeah, that stock market .... sure helps Joe Public with their grocery bill that's at least 2x higher than it was a couple years ago. 1 Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member Skidooski Posted March 21 Platinum Contributing Member Share Posted March 21 5 minutes ago, Bontz said: Yeah, that stock market .... sure helps Joe Public with their grocery bill that's at least 2x higher than it was a couple years ago. Grocery prices are booming just like Mumble's economy 2 Quote Link to comment Share on other sites More sharing options...
akvanden Posted March 21 Share Posted March 21 The issue is that there’s no main lever to reduce inflation, especially when it’s global. I understand there could be energy policies and other than may make a small dent, but presidents largely don’t have the ability to make meaningful changes that impact inflation. Inflation may get back to nominal 2-3% range, but we’re not going to have negative inflation that people seem to think will happen with a different president. Quote Link to comment Share on other sites More sharing options...
Mainecat Posted March 21 Share Posted March 21 It’s aweful. Quote Link to comment Share on other sites More sharing options...
Matt Posted March 21 Share Posted March 21 Just now, akvanden said: The issue is that there’s no main lever to reduce inflation, especially when it’s global. I understand there could be energy policies and other than may make a small dent, but presidents largely don’t have the ability to make meaningful changes that impact inflation. Inflation may get back to nominal 2-3% range, but we’re not going to have negative inflation that people seem to think will happen with a different president. The fed printing trillions is a huge impact. Presidents have influence over the fed. Trump started it, foolishly, because it was campaign season when COVID hit and the economy shut down. Biden knew better but kept pumping. Real prices are up far more than the selective CPI indicates. If you had 100k in the bank, it's worth 75k in the last 4 years. 3 Quote Link to comment Share on other sites More sharing options...
ActionfigureJoe Posted March 21 Author Share Posted March 21 6 minutes ago, Matt said: The fed printing trillions is a huge impact. Presidents have influence over the fed. Trump started it, foolishly, because it was campaign season when COVID hit and the economy shut down. Biden knew better but kept pumping. Real prices are up far more than the selective CPI indicates. If you had 100k in the bank, it's worth 75k in the last 4 years. The printing of money has become a driving force behind inflation since supply chain problems have subsided. Despite corporate profits being up, they remain just slightly ahead when adjusted for inflation. This administration is cherry picking numbers to make everything look rosier than it really is. Quote Link to comment Share on other sites More sharing options...
Matt Posted March 21 Share Posted March 21 3 minutes ago, ActionfigureJoe said: The printing of money has become a driving force behind inflation since supply chain problems have subsided. Despite corporate profits being up, they remain just slightly ahead when adjusted for inflation. This administration is cherry picking numbers to make everything look rosier than it really is. They all do cherry picking, but what possible justification is there for continuing to print, other than to point to record high equities indices? Quote Link to comment Share on other sites More sharing options...
akvanden Posted March 21 Share Posted March 21 49 minutes ago, Matt said: The fed printing trillions is a huge impact. Presidents have influence over the fed. Trump started it, foolishly, because it was campaign season when COVID hit and the economy shut down. Biden knew better but kept pumping. Real prices are up far more than the selective CPI indicates. If you had 100k in the bank, it's worth 75k in the last 4 years. Presidents have a very limited indirect impact on fed policy. But let’s assume they pulled the strings for the sake of the argument (which would be very bad). Money supply decisions are not without consequences. A simple restriction in supply doesn’t only lower inflation, it also slows down economic growth. That’s the fine line feds try to balance. What president is going to usurp the Fed and trade lower inflation for a recession instead…? Especially at the end of their term? How much unemployment are we willing to trade for lower CPI? That’s why the fed reserve is decoupled and why it needs to be looking long term to keep things balanced as best they can. Quote Link to comment Share on other sites More sharing options...
ActionfigureJoe Posted March 21 Author Share Posted March 21 1 minute ago, akvanden said: Presidents have a very limited indirect impact on fed policy. But let’s assume they pulled the strings for the sake of the argument (which would be very bad). Money supply decisions are not without consequences. A simple restriction in supply doesn’t only lower inflation, it also slows down economic growth. That’s the fine line feds try to balance. What president is going to usurp the Fed and trade lower inflation for a recession instead…? Especially at the end of their term? How much unemployment are we willing to trade for lower CPI? That’s why the fed reserve is decoupled and why it needs to be looking long term to keep things balanced as best they can. Trump pushed for -0 interest rates during a hot economy. For all practical purposes he almost got it. We all got a little drunk with money back then. Now it’s time to pay the bartender. Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member Jimmy Snacks Posted March 21 Platinum Contributing Member Share Posted March 21 1 hour ago, Mainecat said: It’s aweful. You have no idea because you’re a childless elitist that was given a good job where (I’m assuming) you were paid more than you were worth and now you sit here being dismissive…you have zero idea what the average American family deals with everyday so maybe STFU. Quote Link to comment Share on other sites More sharing options...
Doug Posted March 21 Share Posted March 21 1 1 Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member Skidooski Posted March 21 Platinum Contributing Member Share Posted March 21 2 hours ago, Jimmy Snacks said: You have no idea because you’re a childless elitist that was given a good job where (I’m assuming) you were paid more than you were worth and now you sit here being dismissive…you have zero idea what the average American family deals with everyday so maybe STFU. But before all that happened for him I think he mentioned having a tough time and money was tight...? Maybe he was trolling but if he grew up struggling / poor then he might have an idea. Just one that is from 50+ years ago Quote Link to comment Share on other sites More sharing options...
ActionfigureJoe Posted March 21 Author Share Posted March 21 1 minute ago, Skidooski said: But before all that happened for him I think he mentioned having a tough time and money was tight...? Maybe he was trolling but if he grew up struggling / poor then he might have an idea. Just one that is from 50+ years ago Quite honestly, I don’t think anyone on this site was born in a tar paper shack. And many are laying out big money for high ticket items. I don’t hear much suffering either now or past. So I guess that makes all of us elite. Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member Skidooski Posted March 21 Platinum Contributing Member Share Posted March 21 2 minutes ago, ActionfigureJoe said: Quite honestly, I don’t think anyone on this site was born in a tar paper shack. And many are laying out big money for high ticket items. I don’t hear much suffering either now or past. So I guess that makes all of us elite. Well, Franky hasn't been around in a long time so..... I grew up solid middle class and really the only struggles I had was with a very strict father 1 Quote Link to comment Share on other sites More sharing options...
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