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Inflation at its highest in 40 years…

Discussion in 'BBS Hangout: Debate & Discussion' started by LosPollosHermanos, Dec 10, 2021.

  1. dmoneybangbang

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    It's just the state of affairs that conservatives prefer memes and tweets over any actual discussion.
     
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  2. Space Ghost

    Space Ghost Contributing Member

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    What is to discuss other than the Biden administration accusing gas stations of price gouging. Do you agree with the administration that gas stations are the cause of increased fuel costs?
     
  3. dmoneybangbang

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    No I don't think gas stations are a big contributor to inflation and I think the Biden admin is desperately trying to explain away a complex issue which has been in the making for many years. However, what is there to discuss other than that? Come on.....

    American Factories Are Making Stuff Again as CEOs Take Production Out of China
    Biden Close to Rollback of Chinese Tariffs to Fight Inflation

    A shale booster shot: 'Re-fracs' rise as cheap way to lift U.S. oil output
     
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  4. Amiga

    Amiga I get vaunted sacred revelations from social media
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    around here

    $4.29 to $3.97 at one shell station overnight :eek:
    Everywhere else, including other shells, is still above 4.20.
     
  5. Space Ghost

    Space Ghost Contributing Member

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    That station got ahold of some of that cheap Russian oil
     
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  6. Amiga

    Amiga I get vaunted sacred revelations from social media
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    Tariff is about the only thing the admin can control w.r.t consumer pricing. Everything else is an illusion - you get the blame but you can't do sh*t about it.

    And yes, the tariff should go down. It shouldn't have gone up, to begin with. If you want to protect American workers, try elevating international standards instead.
     
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  7. Major

    Major Member

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    Yup. Certain people love to complain about inflation, China, and immigrants. Inflation is caused because we can't produce enough "stuff" and have a lack of labor. How do you fix that? Stop having dumb trade wars and increase immigration. Too bad both parties are opposed to the former, and one party is opposed to the latter.
     
  8. DaDakota

    DaDakota If you want to know, just ask!

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    He should have removed the Tarriffs already, they only tax our own consumers.

    DD
     
  9. Space Ghost

    Space Ghost Contributing Member

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    On the other hand, it encouraged businesses to look elsewhere for mfg. How worse off would we be if we still completely relied on pre-tariff goods from China?
     
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  10. Major

    Major Member

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    I'm not really sure - we were already moving manufacturing to other parts of SE Asia for the last 15 years or so. But as long as manufacturing just moves to the cheapest labor source (Vietnam, for example), we'll still have a chokepoint somewhere. And it's not like the manufacturing moves overnight anyway, so I'm not sure how much better off we are today. But we do know that we're paying extra for all the many goods we still do get from China, which haven't really slowed relative to pre-trade-wars:

    https://www.bloomberg.com/news/arti...rade-booms-as-if-virus-tariffs-never-happened

    [​IMG]
    With tariffs in place on more than $300 billion in imports from China, from footwear and clothing to electronics and bicycles and even pet food, many U.S. retailers are choosing to absorb the cost and squeezing their profit margins, the NRF’s Gold said. Some are passing these along to consumers.

    The tariffs are just costing US businesses and US consumers extra money - ie, inflation.
     
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  11. Surfguy

    Surfguy Contributing Member

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    Not according to Trump
     
  12. MojoMan

    MojoMan Member

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  13. MojoMan

    MojoMan Member

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  14. Bandwagoner

    Bandwagoner Contributing Member

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    We import goods from other countries. Consumer economy. How will importing more people cause a net gain in "stuff" as you put it. Most illegal immigration is cheap service labor not goods manufacturing. It will certainly increase demand for this "stuff"
     
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  15. dobro1229

    dobro1229 Contributing Member

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    I've noticed these huge fluctuations in prices just across the street with stations, and that's pretty much a tell that the inflated prices have been more about maximizing on perceived demand, and not a shock that you'll see a huge dip after 7/4 when the market assumes travel will drop as people start tightening back up before school starts, etc.

    Because of the greed that came into play I think the market demand for E cars or hybrids will blow through the roof now doing more damage to the oil & gas industry long term because consumers will now have some PTSD in their system where they remember how disruptive to their lives the price of gas can be. I don't know about anyone else, but me and my wife made the decision that moving forward as soon as we can, we absolutely need to have at least one of our automobiles be at least hybrid so when we get spikes in the future, we aren't so land locked to our house, and can still be able to afford to travel. I assume we are not alone there, and my guess is hybrids and E cars will have much higher demand because of this spike that will be a long term self inflicted wound for fossil fuel cos.
     
  16. dobro1229

    dobro1229 Contributing Member

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    My guess is the Biden admin is going to look mostly at tariffs that haven't had any impact on pushing consumers to buy US manufactured goods on the items that were tariff'ed or taxed essentially. The whole purpose should be to have a longterm approach to boosting domestic consumer demand so your US dollar gets spent ultimately here instead of overseas.

    So I support lifting some tariffs that aren't showing any positive impact to domestic industry. If it's something we'll never make domestically then there's no need to make consumers spend more for that item.
     
  17. Major

    Major Member

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    We have labor shortages in virtually every industry which is causing supply issues everywhere. Bringing in immigrants reduces the labor shortages. Seems like common sense? I didn't specify illegal immigration - I said immigration in general. Work permits, bringing people out of the shadows, more general immigration, etc - all of these things contribute in different ways to reducing labor shortages.

    More people = more production and transport of goods = reduced supply chain problems & reduced labor pressures = reduced inflation.
     
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  18. Bandwagoner

    Bandwagoner Contributing Member

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    It didn't make common sense. Every person imported will consume goods. They will not all produce goods. It increases demand not supply in a global market.

    Every home Depot in Houston has 30 guys in the parking lot. They are helping the chip shortage.
     
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  19. Amiga

    Amiga I get vaunted sacred revelations from social media
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    Trump started imposing new tariffs in early 2018 (not just on China, but EU, Canada, India, Mexico, and others). The pandemic started in early 2020. Zero impact on mfg reliability due to the timing (long lead time to move any mfg). Up to 50% additional cost to US consumers since late 2019.
     
  20. tinman

    tinman Contributing Member
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    Oh snap
    You have to tell them chip means computer chip
    Not Pringle's
     

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