you have definitely chip on your shoulder so you should let it rest
If you are in are involved in the heart of the financial services industry doing the daily grind or an economist then i'll give a listen and take to heart your first hand analysis. But these psuedo intellectual facades comes off just like that. I've heard hundreds of MBAs with book knowledge and consultants throwing around crap to see book speak when I see it.
I never said it was credit card spending, what I said is the government just pumped out billions in pandemic relief to allot folks who really didn't need it, gave rent protections to many who didn't need it and what did they do? They did like allot did here and spend it on crap, like new surfboards, new e-bikes and dabbling in the crypto market to cause that blow up. All because they viewed it as throw away money.
Sure allot saved up (deposit amounts at all FIs are the highest ever the past couple of months) and it gave them freedom from being trapped in jobs they only did out of survival and others really needed the help. But a good portion of this money went to the undeserving like all the PPP crap. And allot of it got held up because they had no real way to disburse it once it was sent to the states(like throwing money into the wind). So the states started using it for other things it really wasn't meant for.
That's allot of consumption without allot of production because of the lockdowns
If printing money was the cause for the current inflation then we should hit significant inflation in 2010 or 2011 after the 2008-2009 crisis when they started the whole Bernanke/Paulson initiative to "save the economy". It didn't help that most of tghoe guys were all ex-Goldman Sachs guys.
I'm not saying what I'm observing or being told is the absolute truth, but it is based off of real world info we're getting from people who monitor the data as a profession not as a hobby. Stores and distributors can't get stuff to keep their shelves stocked to keep up with demand. Manufacturers can't build stuff because they don't have the old base components they need especially those small electronics components so they have to switch to more expensive alternatives causing them to raise prices to offset the added expense unless they can absorb it. This battle of do I absorb or do I pass on is the on every business's decision plate right now.
I'm sorry if its hard to understand the impact of maintaining and always having to increase "shareholder" value quarter after quarter but I've seen how that becomes a negative primary focus of many CEOs of publically traded companies which leads to allot of related negative consequences. Allot of companies become private again because they tire of being told what to do by outsiders who are only looking out for the return on their "investment".
Also I'm not blaming anyone
This is just another cycle we have to plow through.
We go through these economic ups and downs all the time winners become losers and losers become winners no one stays on top for ever. Just like the WCT ratings I guess.
Pretty much done with this silly argument at this point
I have more important things to worry about like someone to bury this week
If you are in are involved in the heart of the financial services industry doing the daily grind or an economist then i'll give a listen and take to heart your first hand analysis. But these psuedo intellectual facades comes off just like that. I've heard hundreds of MBAs with book knowledge and consultants throwing around crap to see book speak when I see it.
I never said it was credit card spending, what I said is the government just pumped out billions in pandemic relief to allot folks who really didn't need it, gave rent protections to many who didn't need it and what did they do? They did like allot did here and spend it on crap, like new surfboards, new e-bikes and dabbling in the crypto market to cause that blow up. All because they viewed it as throw away money.
Sure allot saved up (deposit amounts at all FIs are the highest ever the past couple of months) and it gave them freedom from being trapped in jobs they only did out of survival and others really needed the help. But a good portion of this money went to the undeserving like all the PPP crap. And allot of it got held up because they had no real way to disburse it once it was sent to the states(like throwing money into the wind). So the states started using it for other things it really wasn't meant for.
That's allot of consumption without allot of production because of the lockdowns
If printing money was the cause for the current inflation then we should hit significant inflation in 2010 or 2011 after the 2008-2009 crisis when they started the whole Bernanke/Paulson initiative to "save the economy". It didn't help that most of tghoe guys were all ex-Goldman Sachs guys.
I'm not saying what I'm observing or being told is the absolute truth, but it is based off of real world info we're getting from people who monitor the data as a profession not as a hobby. Stores and distributors can't get stuff to keep their shelves stocked to keep up with demand. Manufacturers can't build stuff because they don't have the old base components they need especially those small electronics components so they have to switch to more expensive alternatives causing them to raise prices to offset the added expense unless they can absorb it. This battle of do I absorb or do I pass on is the on every business's decision plate right now.
I'm sorry if its hard to understand the impact of maintaining and always having to increase "shareholder" value quarter after quarter but I've seen how that becomes a negative primary focus of many CEOs of publically traded companies which leads to allot of related negative consequences. Allot of companies become private again because they tire of being told what to do by outsiders who are only looking out for the return on their "investment".
Also I'm not blaming anyone
This is just another cycle we have to plow through.
We go through these economic ups and downs all the time winners become losers and losers become winners no one stays on top for ever. Just like the WCT ratings I guess.
Pretty much done with this silly argument at this point
I have more important things to worry about like someone to bury this week