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Inflation at its highest in 40 years…

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

  1. Os Trigonum

    Os Trigonum Contributing Member
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    Biden's Bottomless Energy Foolishness

    https://the-pipeline.org/bidens-bot...HprbER9JtKBo6Qbm-_QojxU3isfrSUV_GkyLkm5NrnpXA

    excerpt:

    Oil production and refining margins are at or slightly below average for all American manufacturing industries (between 5 and 12 percent, depending on region and product), and considerably below several other industries that are Democrat favorites because they’ve gone woke, especially tech.

    ExxonMobil is expected to earn less than one-half as much as Apple this year (Exxon: $41 billion; Apple: $100 billion), and Apple enjoys a much larger profit margin on sales than ExxonMobil (Apple: 26 % in its most recent quarter; ExxonMobil, 6.2%). But liberals never criticize Apple’s “profiteering” or Google, or Facebook, or...
    more at the link
     
    SuraGotMadHops likes this.
  2. Ubiquitin

    Ubiquitin Contributing Member
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    Beef prices going up.
     
  3. Major

    Major Member

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    What exactly are you asking? Everything is in short supply. If you are a restaurant and your labor costs more and your meat costs more and everything else costs more, you have to raise prices to maintain your profits. If you are a meat producer and your labor costs more and your fuel costs more and your factory is open fewer hours due to lack of staffing, it means you produce less and have higher costs, so you have to charge more for your limited product.

    If there's less oil and grain and wheat available to the West because of the Ukraine mess, then gas and food prices go up. If gas prices go up, then the cost of shipping everything to Walmart or Target or UPS goes up, meaning the price of those goods has to go up.
     
  4. Major

    Major Member

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    The flipside of this is the amount of wealth created during Covid from stocks and real estate dwarfs what has been lost in these last 6 months. Household wealth went from something like $100 trillion to $140 trillion and is now down to like $130 trillion.

    As an example, the S&P 500 was at 3200 in January 2020 and is 3600 now- still up over 10%. And real estate has skyrocketed over the last 2 years. It's one reason we have a labor shortage - a ton of boomers became wealthier than expected and retired early. So a lot of retirees who had money in the stock market or owned land are in a pretty good place still. However, some of early retirees might re-enter the workforce, which may help alleviate our labor shortage and address our supply line issues.
     
  5. Major

    Major Member

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    https://www.politico.com/news/2022/06/14/republican-immigration-dreamers-00039479

    Republican donors to GOP leaders: Bipartisan immigration reform would ease inflation

    More than a dozen GOP donors are trying a new tack in urging Republican congressional leaders to get serious about granting so-called Dreamers legal status: it’ll help ease inflation and the U.S. labor shortage.

    In a letter being sent Wednesday to Senate Minority Leader Mitch McConnell and House Minority Leader Kevin McCarthy, 14 donors who call themselves “life-long Republicans” said that reaching a deal on immigration that provides permanent legal status to immigrants brought to the U.S. illegally as children “makes economic sense.”

    ...

     
  6. MexAmercnMoose

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    immigrants to the rescue!
     
    Exiled and Andre0087 like this.
  7. Invisible Fan

    Invisible Fan Contributing Member

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    "inflationary psychology"


    This is why Powell should've announced a higher rate hike. It would've signalled he was truly serious in curtailing inflation and make consumers less prone to hoarding and jumping in while everything is tight. Speculation into commodities is also driving up prices while it pisses downward on buyers and retail sellers.

    But dat wud cause stocks to melt down and jerbs would be destroyed!!!

    Powell's last speech danced around job destruction... he's just doing it half assed while non-retail is pulling out of the markets.

    If all of it is down with what looks more like stagflation, then kill the excess speculation and panic driven buying/hoarding. Contain inflation, be honest with it's side effects (stagflation is much longer to beat and much worse on average people), then deal with the rest.

    We can't even keep rates high without everyone going broke, so might as well do it fast and start liquidating the excess shitty parasites.
     
    #847 Invisible Fan, Jun 16, 2022
    Last edited: Jun 16, 2022
    MexAmercnMoose and Ubiquitin like this.
  8. pgabriel

    pgabriel Educated Negro

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    The reason so many Hispanics come here is because Republican voting business owners love them. It's a real conflict of interest between avg non business owner Republicans and business owner Republicans
     
    Major likes this.
  9. pgabriel

    pgabriel Educated Negro

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    Obviously gas prices are more relevant to every day life. Oil companies are an easy target but the top of the inflation food chain
     
  10. Os Trigonum

    Os Trigonum Contributing Member
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    WaPo reports Biden staffers getting desperate

    Soaring gas prices lead White House aides back to brainstorming
    Administration officials look at fuel rebates, emergency powers if diesel shortages materialize

    https://www.washingtonpost.com/us-policy/2022/06/17/biden-gas-white-house/

    excerpt:

    Senior White House aides have in recent days explored new ideas for responding to high gas prices and looked again at some that they had previously discarded, desperate to show that the administration is trying to address voter frustration about rising costs at the pump.

    Biden officials are taking a second look at whether the federal government could send rebate cards out to millions of American drivers to help them pay at gas stations — an idea they examined months ago before ruling it out. Aides had found that shortages in the U.S. chip industry would make it hard to produce enough rebate cards, two people familiar with the matter said. White House officials also fear there would be no way to prevent consumers from using them for purchases other than gasoline, according to another person familiar with the discussions. Even if the administration embraces the proposal, it would probably require congressional approval and face long odds among lawmakers wary of spending more money.

    Biden aides have also looked in recent days at invoking the Defense Production Act to move diesel and other refined products should localized shortages materialize, two people familiar with the matter said. Diesel prices have risen markedly, posing a major threat to the nation’s trucking and shipping industries, although experts say shortages appear to remain unlikely for now.

    ***
    “Not only is there not an extant solution, but nobody thinks there’s going to be a compelling solution,” an outside economic adviser to the White House said. “They’re fighting about narrative rather than fighting about substance, because realistically, what are they going to do?”

    ***
    “I’m doing everything in my power to blunt Putin’s gas price hike,” Biden said, referring to Russian President Vladimir Putin. “We’re going to work to bring down gas and food prices. We can save families money and other items.”
    more at the link
     
  11. cheke64

    cheke64 Member

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    I think it's retaliation, partially. I know landlords that raised the rent because Biden won.
     
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  12. HTM

    HTM Member

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    I am straight up not having a good time with this economy
     
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  13. Os Trigonum

    Os Trigonum Contributing Member
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    look at the bright side, if you walk everywhere you can keep your weight down
     
    HTM likes this.
  14. HTM

    HTM Member

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    Excited to see the D&D get skinny. I'm sure some of the guys have been letting themselves go.
     
    Ubiquitin and Os Trigonum like this.
  15. Os Trigonum

    Os Trigonum Contributing Member
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    fify
     
  16. cheke64

    cheke64 Member

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    I noticed that hypocrisy. Then the newly rich republicans blame the illegals for crime, jobs, etc..

    They use them and then blame them.
     
  17. MojoMan

    MojoMan Member

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  18. Rocket River

    Rocket River Member

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    WOW!

    Rocket River
     
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  19. Rocket River

    Rocket River Member

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    BTW - F*** 5 GUYS!!!!
    Two Burgers/two fries/two drinks! - 40 BONES??!
    I almost punched the Cashier in self defense . . .. . She was trying to rob me!!

    Rocket River
     
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  20. HTM

    HTM Member

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    Eating out is for the rich now bruh
     
    Ubiquitin likes this.

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