Inflation

PRCD

Rabbitt Bartholomew status
Feb 25, 2020
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What stops these guys from just keeping their mouths shut or just saying, "I don't know?" In SCIENCE! your ONLY currency is credibility, especially if you're in a public-facing role.
This is a pretty good timeline of the whole thing:
It's possible that people in high places and scientists ALWAYS believed in the possibility of a lab leak and social media gatekeepers choked it off, but who knows? The "It's a CONSPIRACY" and "DEFINITELY NOT MAN MADE" rose to the top. It's possible it was isolated from bats and later leaked, in which case it was technically not man made, but honest reports would've noted this.
 

test_article

Kelly Slater status
Sep 25, 2009
9,440
507
113
Body of Christ, Texas
You can really see when the MMT regime began: 2009. Shortly thereafter, people were writing books on how this was actually a good thing.
View attachment 109184

I think most of the new money since 2009 has gone to inflate new asset bubbles in the stock and real estate markets. Boomers love it because their house is now worth 4x what they paid. Their kids hate it because they can afford nothing, and don't seem happy (take that, Klaus Schwab).

M0 is pushing $6T (M2, $20T), but the Fed has $10T in assets (and growing) that are removed from circulation. Those assets are bonds and asset-backed securities that can expire in Fed hands for all I care, as long as the Treasury gets its principal back and the Fed can use those purchases to keep interest rates manageable.

I'm not betting against the Fed when they say much of the current inflation is temporary and due to the shortages and pent up consumerism caused by the pandemic.
 

Sharkbiscuit

Duke status
Aug 6, 2003
19,709
11,254
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Jacksonville Beach
I'm not betting against the Fed when they say much of the current inflation is temporary and due to the shortages and pent up consumerism caused by the pandemic.
I'm a noted erBB Fed apologist and fan (because I consider the alternative to be Congress AAAAAAAAHHHHHH)

It's not temporary if $100T deficits all the time are the new norm because the free sh!t voting bloc wants payments and the politicians want to keep the cash flowing because any recession other than a small one in the two quarters immediately following an election would cost them political power.

My Republican-voting Aunt who thinks $15/hr makes sense because sh!t's expensive already hates Biden because she had to wait a couple extra days after the free sh!t was announced before the free sh!t got direct-deposited vs the free sh!t deposits when Trump was in office.
 

Autoprax

Duke status
Jan 24, 2011
57,903
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Vagina Point
Remember when the last president was juicing the hot economy with tax breaks for the rich?

We need to go back to that.
 

oneula

Miki Dora status
Jun 3, 2004
4,230
2,332
113
the next crash/recession what ever the cause will take care of that stuff
always does
this artificially charged "exhuberance" will only last so long
we always shoot ourselves in the foot
 

PRCD

Rabbitt Bartholomew status
Feb 25, 2020
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Remember when the last president was juicing the hot economy with tax breaks for the rich?

We need to go back to that.
The tax breaks for the rich pale in comparison to the money pump for the rich.
1622211497083.png
 

PRCD

Rabbitt Bartholomew status
Feb 25, 2020
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A Romanian discusses inflation.

Back then, 70% of Romania was rural and could grow food. They also had fairly high social capital. 90% of the US is urban/suburban and doesn't know their neighbors so we have much stronger incentives to control inflation.

Short summary: have real skills like carpentry, plumbing, machining, and sewing that can be traded for real goods. Know your neighbors. Grow some food. Don't try to be a real estate mogul.
 

afoaf

Duke status
Jun 25, 2008
41,009
13,947
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A Romanian discusses inflation.

Back then, 70% of Romania was rural and could grow food. They also had fairly high social capital. 90% of the US is urban/suburban and doesn't know their neighbors so we have much stronger incentives to control inflation.

Short summary: have real skills like carpentry, plumbing, machining, and sewing that can be traded for real goods. Know your neighbors. Grow some food. Don't try to be a real estate mogul.
I was just talking about this....I know a Bulgarian and a Ukrainian

they think the dollar is kaput
 
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Autoprax

Duke status
Jan 24, 2011
57,903
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Vagina Point
I was just talking about this....I know a Bulgarian and a Ukrainian

they think the dollar is kaput
They must be watching the same YouTube videos as my DT friend.

He starts talking about inflation and I said, "In the 50 years I have known you, you have never mentioned inflation."
 

test_article

Kelly Slater status
Sep 25, 2009
9,440
507
113
Body of Christ, Texas
A Romanian discusses inflation.

Back then, 70% of Romania was rural and could grow food. They also had fairly high social capital. 90% of the US is urban/suburban and doesn't know their neighbors so we have much stronger incentives to control inflation.

Short summary: have real skills like carpentry, plumbing, machining, and sewing that can be traded for real goods. Know your neighbors. Grow some food. Don't try to be a real estate mogul.
Urban folks have to lay in a supply of victuals NOW to give them time to meet their neighbors and community garden! <hahaha>
 

Sharkbiscuit

Duke status
Aug 6, 2003
19,709
11,254
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Jacksonville Beach
I think the US housing market is straight FKKKKKKD

I 100% agree with your previous complaints about foreign investments

I don't know what the solution is short of regulations
I've got a great solution.

Hot.
Ukrainian. (Bulgarian also works here)
Sister.

I rode waves in New Jersey in the mid-late 80s. I ride waves in Florida in the summer. I was born to shred the Black Sea. Potty smells like cutting fluid so it's probably just like home in that respect.

THIS SUMMER
IN A LAND WITHOUT SPRINTER VANS, E-BIKES, OR PEOPLE USING "EDUCATIONAL AND EMOTIONAL LABOR" UNIRONICALLY
(opening riff of Fortunate Sun starts playing - cut to afoaf holding M-16)
"WHERE DO YOU COME FROM, MAGGOT"
"F-f-floridee by way of New Jersey"
"JEEEEEZUS H CHRIST, ARE YOU HERE TO OPEN A DUNKIN' DONUTS AND TELL ME MY PIZZA SUCKS?"
 

VonMeister

Duke status
Apr 26, 2013
18,357
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JOE BIDENS RAPE FINGER
I think the US housing market is straight FKKKKKKD

I 100% agree with your previous complaints about foreign investments

I don't know what the solution is short of regulations
Interest rates are low and people are flush with government cheese. Until that tap is closed nothing changes.

If you own a multi resident dwelling or a old decrepit hotel Uncle Sam will pay you millions to refurbish it, then pay you millions in rent to make it a transitional house for the illegals. If you're in California Gavin will pay you 1000's of points above market to turn it into a shelter. Sooner or later this is coming to suburbia as well. Rental owners turning their neighborhood houses into illegal or homeless hostels.

I used to think GWB spent like a madman...Obama and Trump made him look like a republican again. The people pulling Biden's strings are crazy idealists and out of their mind.. and the Democrat party as a whole does not seem at all inclined to require Wall Street or Tech companies to carry the freight colloquially known as "fair share". They just approved the Senate Gentlelady from Washington States request to send hundreds of billions of dollars to Bezos dogshit space company because it can't win a bid in a competitive market....or fly a rocket which seems like a pretty f@cking important part of being a space ship company.)

The poor and middle class are about to get pounded with use taxes and tariffs at the same time the dollar falls to parity with the peso.

All time high inflation is unavoidable at this point.
 
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