Isn't that the end game with Clean Energy? We have over a century of putting oil and gas into our air and water. You think it's "Marxism" to transition, but laid dead silent when the government spent over trillions in aid and infrastructure related to fossil fuel economy, let alone all of those costly wars to secure it. Dat's nawt Mawxism...Dats Mannyfwest Destinee!
Supply chain issues can be remedied with better labor participation, but where are those workers? I just came from Mexico... contrary to the fall-out from COVID here in the US, trying to get back to normal in MX has people there scrambling and working even harder than they did before. We can solve this pretty comprehensively if the US decides to revive the Bracero program- this time around, it can't be limited to farm workers; manufacturing and logistics jobs (especially longshoremen) need to be filled as well, and those Mexicans possessing a functional working knowledge of the English language (could be quite a few already here, or those rounded up and returned previously) could receive provisional transport licenses to operate long-haul trucks with company sponsorship. I'm mystified by the hate still being thrown at people willing to work any / all times at any / all jobs not being taken by other people who got bailout bucks from Uncle Orangie while he was p***ing on the Constitution and planning his auto-coup d'etat.
I'm all for abolishing all energy subsidies. The good news is bitcoin mining will do this naturally, as any energy being artificially provided below cost will be a magnet for miners.
I'd like to see that but btc mining is far and away from that goal. It's a nice pivot for some savvy institutional investors to only sell and trade whitelabled "clean btc"...I'm all for that trend if it grows with equal intensity and fanaticism.
there's nothing the Biden administration would be willing to do (austerity/tight monetary policy) to curb inflation I predict they will propose universal basic income as a short term superficial way to relieve inflation, but of course that will only make inflation worse in the medium/long term.
Inflation is ALWAYS transitory - question is for how long. Today high and rising Inflation is worldwide, not just the US. Is it the influx of dollar that is causing this inflation world wide? Is it because the factories are still not working anywhere near capacity? Is it chip shortages (why are electronic still not inflationary)? Is it the ships stuck at sea? Is it the workers shortage here and elsewhere? Is it the cost of energy? For inflation to stay high for a long time (said 10 years), aren't we saying either 1- it's due to all the $$ printing (and hey, this was squarely under Trump watch if you want to get political here) or 2- all the other "transitionary" causes. All the other causes will be resolved over time (maybe 2-3 years). Then what? Energy price is never a good sign to follow - it has always gone up and down and is somewhat self-correcting. Too high and the economy slow down, reducing demand and depressing price. But the influx of $ into the pipeline (market, people) in 2020 -- is that really going to keep inflation high for a long time???
I think the answer to the current high inflation is all of the above and there likely isn't any quick fix to the current situation.
No US Administration will likely do austerity tight monetary policy. Not recent Democrats and certainly not recent Republicans. We're all Keynesians now..
MMT is never transitory. Its a range of high/low entropy. Broad supply chain issues are a result from inflation, not the other way around. Commodities are a terrible barometer of inflation. Inflation is a result of getting off the gold standard, not because of one particular president or congress. Macro and long term energy prices are a great indicator. It reminds me when all the idiots tell me Bitcoin is too volatile to invest in. I agree. 300% gains year over year is very volatile...or whatever the number is.
thankfully, there's a way to exit the Keynesian system, that enriches you in the process I feel bad for anyone who has their savings in dollars, the purchasing power will continue to melt away. #Bitcoin
I was a Austrian pre Covid in the legacy system. Now I am a Keynesian. It would be cruel to advocate for dystopia. Now that we are firmly down a single path, shorting the USD is the easiest and best long term investment strategy. Buy Bitcoin.
We've had the bitcoin discussion before and agree it isn't some passing fad but as a longterm economic stability I don't see it. If anything cryptocurrency could lead to less economic stability as most of the tools to fight swings aren't available for bitcoin. Also given the rapid increase in the price of bitcoin, the increasing amount of energy used to mine bitcoin it could be contributing to inflation.
$BTC is a 1.2T asset currently. A small but meaningless number. That said, it absolutely is contributing to inflation in $USD terms. Check back in a couple years when $BTC is well over 10T and compare inflation. By then the world will be waking up to realizing its not how much BTC you own but that your USD to BTC ratio holdings heavily favors BTC.
The Democrats DO have a huge messaging problem, however this is more than a messaging problem.... there is a serious inflation problem, and we are facing the consequences from the pandemic and poor choices made over the prior 4-5 years. Whoever won the 2020 election was going to be in a position where they would likely lose in 2024 unless the last 18 months showed a real improvement. Right now it is only the beginning, and Biden knows it.... wait until Thanksgiving through New Years and it is going to only get worse because supply chain issues are going to only make inflation artificially worse. Consumers in the US are not going to be happy and they are going to blame the government when we all know it isn't that simple..... I expect that will only increase the popularity of fringe politicians/radicals on both sides.... the very liberal Democrats and the more radical Republicans could see their viability at the national level increase. Something like COVID could be the catalyst for economic and political turmoil, not only WHEN we are in the pandemic but afterwards and we may be entering that. Someone from the extremes of either party could emerge and cause destruction.
That is what she wants.... but she would be a poor choice for the country, she is a political w**** in the same way that Kamala Harris is. There is almost no real back bone or substance there, she has no real convictions.
This is a really bad idea by Biden and the democrats. There is no reason for the US government at this time to be paying hundreds of thousands of dollars to people that illegally entered this country. The optics are HORRIBLE and the timing is too. This holiday season is going to be terrible and the news blurting out that the government is paying illegal immigrants large amounts of money is BAD. The priorities in this country are screwed up.
