transitory was a poor choice of word; it was used in Fed/Treasury Dept statement in Sep 2021. then Russia's invasion of Ukraine happened, economically speaking, adding fuel to the inflationary fire. you muar be living in a cave, demand for big ticket items, such as housing, have steadily declined. heed Abe Lincoln's sage words best to remain silent and be thought of as a fool, than to speak to remove all doubts.
In this particular case, knowing that the standard of living in CA is much higher than Texas, does this really matter? If a 1,200 SF home in LA costs $800,000 versus in Texas it costs $300,000, does it matter that you pay more in taxes at the bottom or middle when compared to Californians? I could be looking at this very rudimentary, so feel free to correct if I'm wrong. If the argument is to simply shoot down that Texans pay less in taxes than Californians, then by all means, continue moving along, nothing to see here.
Your previous post said we are going to see a global recession but now you said we have seen the bottom. Your first statement is more true. We very likely haven't seen the bottom. Energy demand is going to continue to increase, especially with moving energy away from on demand fossil fuels such as oil/ICE to EVs. ICE vehicles are not going away anytime soon. We have yet to feel the impact of EVs on the grid in conjunction with the inevitable demand shock of moving to EVs eventually. Battery demand is already through the roof.
Welcome captain obvious. Transitory was not a poor choice of a word. It was completely wrong and used to its full intent. Including by you. Housing is not steadily declining. The only thing declining is the exorbitant markup on housing. You fail to understand the difference between demand shock and inflation. Which is why you said transitory was a poor choice. $6 a gallon gas is not transitory. It's a S&D shock. Heed your own words. If I could hedge against all your opinions, I would do very well.
The market has bottomed yes, but not the economy. The market does not equal the economy. The market typically bottoms Before a recession. Demand typically drops during a recession. We're entering into one.
Maybe the Capitol Riot hearings matter more than what the Brown Shirt Simps are bleating on America's Network.
You just gonna keep parroting that same statement every month? With all the supply chain disruptions it was clear this wouldn't be transitory.
Yes I am. Like I will remind the same people that not wearing masks at the beginning of a pandemic was an idiotic statement. And propping up Ukraine is idiotic. And blindly following everything else the government states is stupid.
You really gonna criticize masks and supporting Ukraine? Ukraine is winning and the pandemic is over and the unemployment rate is still good
Democrats will double down on the lying if it will keep them in power. Republicans killing social services will likely be de-inflationary as there's less spending. For this whole year, Dems have been spending while they demanded Jerome fix his problem*. State governors like Newsom want to print checks to offset gas prices but with KSA and OPEC cutting oil production,the bet is that energy will be higher for the winter than an end to inflation. *This mess was triggered by Mnuchin and Powell but if Dems had adequately recognized it, they would've booted Powell sooner. Not a fan of Yellen either.
A front desk clerk told me she bought a nissan altima for 56k last week. When I see rice cakes at HEB go up in price I laugh at it. Im not buying you anymore little friend.
Govt stopped saying that months ago and expressly admitted they were wrong. You're beating a dead horse at this point. True, but I'm not willing to do that. Cure worse than the disease, as they say. Prefer something more in the luxury tax vein to reduce spending by rich people, which is also deflationary.
Republicans aren't going to cut social services - they've been talking about that for 30 years and never do it when it power. Under Bush, they massive expanded Medicare. They would, however, cut taxes and raise deficits, as they have done each time they get in power. As far as Dems spending, the fiscal deficit for 2022 is projected at $1.4 trillion. It was $2.8 trillion last year, and over $3 trillion in Trump's last year. When everything was going smoothly in 2019, it was $1 trillion, compared to the $600B that it was when Trump took office. The deficit went down in each of Obama's 8 years, went up in each of Trump's 4 years, and has gone down in each of Biden's years.
You're missing the point. It was obvious they were wrong when they said it. And they are still wrong. And its less about them being wrong and more about only caring about the issue because of the elections. There is a global debt problem (because ya know, Keynesian and MMT is bullshit) and anyone making this about political parties is a hack. This is a problem that has been talked about my entire adult life and it has been said once the B-Boomers start to retire, the system will start to collapse in on itself. All the options are bad options. Feel free to continue to listen to your favorite politicians as they lie to you and forgive them when they finally admit they were FOS.
