Inflation is Through the Roof - Whats Biden Admin's First Priority? Stockholders, of course!

[K1052]

I like when conservatives toss around words like "inflation," proving they don't know what they are talking about.

The degree to which people have entirely mistaken a demand ramp overtaking supply issues for genuine inflation is a good example of motivated thinking. At this point some of the supply shortages are feeding on themselves as people try to hoard.

 

[IronWing]

OMG inflation!



Oh wait…


Remember: I'm one of the folks who firmly believes, with reason, that the government consistently, year after year, decade after decade, understates inflation as a means of quietly inflating away its obligations but the OP is still a retard.

 

[pete6032]

Inflation is through the roof on multiple common goods - all of which effect your average everyday people.

Grammar Lesson - Affect vs. Effect - ELC

English can be difficult. Sometimes, two words that sound the same can have slightly different meanings. This is the case with the words affect and effect. A lot of people do not know how to use these words correctly. Even native English speakers still mix up affect and effect from time to time...

www.elc.edu

.

 

[Bitek]

OMG inflation!
View attachment 44014


Oh wait…
View attachment 44015

Remember: I'm one of the folks who firmly believes, with reason, that the government consistently, year after year, decade after decade, understates inflation as a means of quietly inflating away its obligations but the OP is still a retard.

Exactly. The OP is committing several factual and logical errors here.

1. Trying to hype the long term inflation outlook
2. Confusing covid related demand spikes/ capacity and supply shortages leading to price spikes to LT inflation trends
3. Misdiagnosing the above with monetary policy
4. Ergo recommending terrible economic advice

This has all the hallmarks of 2008 when conservatives were screaming hyperinflation/ gold standard /need for austerity and spending cuts right when the economy was trying to recover. Not coincidentally with a D coming into the WH after a disastrous R presidency.

The real goal of the right is to lie and try to sabotage the recovery like in 2008 thinking it will get them back into power ala 2010.

Their economics were all wrong then and they are now. The don't give a shit about the unemployed or the greater economy, they just want power.

Joe (plus Manchin..) needs to ignore them and forge on.

 

[HomerJS]

Exactly. The OP is committing several factual save logical errors here.

1. Trying to hype the long term inflation outlook
2. Confusing covid related demand spikes/ capacity and supply shortages leading to price spikes to LT inflation trends
3. Misdiagnosing the above with monetary policy
4. Ergo recommending terrible economic advice

This has all the hallmarks of 2008 when conservatives were screaming hyperinflation/ gold standard /need for austerity and spending cuts right when the economy was trying to recover. Not coincidentally with a D coming into the WH after a disastrous R presidency.

The real goal of the right is to lie and try to sabotage the recovery like in 2008 thinking it will get them back into power ala 2010.

Their economics were all wrong then and they are now. The don't give a shit about the unemployed or the greater economy, they just want power.

Joe (plus Manchin..) needs to ignore them and forge on.

Add to that the complete lie in the title Biden's #1 priority is stockholders when his #1 priority has been fighting COVID and fighting its effects.

Compare that to Mitch McConnell who just stated his 100% focus is beating Dems in 2022. Not serving the people of Kentucky or the USA.

 

[ElFenix]

404 inflation not found

 

[Mai72]

Inflation is through the roof on multiple common goods - all of which effect your average everyday people. A thread was already made on Chicken Wings... which understand - it isn't a chicken wing thing... It's the entire bird. Prices for chicken is up 30%+. The other most well-known one is for wood/lumber. It's up over 300%. Gasoline/oil is also sharply increasing 30%+

Pilgrims Pride is one of the nation's largest chicken producing companies. They can't find enough workers - even after raising the salary. So what do you get with that? DRASTIC investment into automation to eliminate those low-skilled jobs, of course!

Bloomberg - Are you a robot?

It's no question that with all of this drastic inflation - we should be raising rates. Janet Yellen even suggested it... Then when the stock market reacted with some negativity yesterday (5/2). The stock market started to fall (300+ on DOW) and she immediately retracted her statement lol. Stockholders first priority, ya know? You get it, you get it...

Everything Screams Inflation

Investors are woefully unprepared for what may be a once-in-a-generation shift in the market.

www.wsj.com

If you haven't realized yet - making ridiculous unemployment bills where you simply get $600+ each week for simply being on unemployment... it doesn't exactly seem appealing to earn $600/week with an actual labor-job. Don't believe me and think people would LOVE to come back to work for the same amount or slightly above? You can find TONS of examples at reddit. It's a no-brainer.

https://www.reddit.com/r/Unemployment/comments/mtc1yy

I live in a resort town in NJ. Minimum wage currently is at $13hr. Summer businesses both small and large are now paying $15 an hour and they are having a HORRIBLE time emplying people. Have to wonder if unemployment is the main culprit. My buddy was collecting and he is currently getting $650 a week. He has a summer job, and will be going back to work very soon. He works at his summer job until Nov and goes on unemployment until May. This year was crazy though. He alszo told me that he recieved a $10,000 check in June. That was when they were getting the extra $600 a week. Must be nice.Why work? Big daddy government will take care of ya.

 

[Amol S.]

Moron level 10! What's your next idiotic post gonna be about? Will it get you enough points to make it to moron level 11.

*music starts playing in Someones mind*
Congrats Someones, you have reached cmbt lvl -15. Your skill stats are now the following, vigour 7, strength 7, intelligence -12, social -11, political knowledge -19.

 

[MrSquished]

A housing boom caused OSB to go from $9 a year ago to $80?

Please tell me why staples, for example, have not exploded in price, but yet building materials have. Try to include record housing demand in many many areas of the country if your brain can handle such analytical skills.

 

[Vic]

When prices are skyrocketing due to supply shortages, the first solution to consider should be the eliminatation of any unnecessary tariffs.

 

[Amol S.]

OMG inflation!
View attachment 44014


Oh wait…
View attachment 44015

Remember: I'm one of the folks who firmly believes, with reason, that the government consistently, year after year, decade after decade, understates inflation as a means of quietly inflating away its obligations but the OP is still a retard.

Oh no proofs of damage caused to the US Dollar due to uncontrolled national debt and inflation in the United States.

GBP/USD:

EUR/USD:



Oh wait...


GBP/USD:

EUR/USD

 

[Vic]

How convenient the Trump tariff taxes are forgotten.

How could Biden easily boost homeownership? First, end Trump's tariffs on raw materials

A surge in the prices of lumber and steel have made buying a new home out of reach for many Americans.

www.marketwatch.com

24% tax on softwood. 25% on steel (and little gain in jobs.)

Maybe OP can blame Biden for the destruction of the US soybean market.

Inflation is not "through the roof" tho. Total misunderstanding by OP.

This. We are not encountering inflation. What we are dealing with are the obvious effects of govt protecting industries whose products are in shortage.

 

[Bitek]

I live in a resort town in NJ. Minimum wage currently is at $13hr. Summer businesses both small and large are now paying $15 an hour and they are having a HORRIBLE time emplying people. Have to wonder if unemployment is the main culprit. My buddy was collecting and he is currently getting $650 a week. He has a summer job, and will be going back to work very soon. He works at his summer job until Nov and goes on unemployment until May. This year was crazy though. He alszo told me that he recieved a $10,000 check in June. That was when they were getting the extra $600 a week. Must be nice.Why work? Big daddy government will take care of ya.

I think wages are a challenge too, although I would position it as wages, esp on the bottom end have been too low for too long and we are finally having a reconning.

Business leaders and wall street won't like wage increases, but the income disparities have grown too large and had been creating societal unrest.

I would also expect these wage increases to trickle up.

 

[Homerboy]

In a weird way, I'm actually Ok with some things being more expensive or harder to get. The one thing that everyone doesn't need is more shit.
Americans could use a lesson in becoming more resourceful and using what they have instead to it's fullest.

 

[theeedude]

Republicans are so sore about Biden economic boom.

 

[fskimospy]

This. We are not encountering inflation. What we are dealing with are the obvious effects of govt protecting industries whose products are in shortage.

Also, lumber producing companies cut production last year in anticipation of some sort of 2008 style bust that never materialized.

 

[Zorba]

I live in a resort town in NJ. Minimum wage currently is at $13hr. Summer businesses both small and large are now paying $15 an hour and they are having a HORRIBLE time emplying people. Have to wonder if unemployment is the main culprit. My buddy was collecting and he is currently getting $650 a week. He has a summer job, and will be going back to work very soon. He works at his summer job until Nov and goes on unemployment until May. This year was crazy though. He alszo told me that he recieved a $10,000 check in June. That was when they were getting the extra $600 a week. Must be nice.Why work? Big daddy government will take care of ya.

Sounds like the UI may provide the proper incentive for companies to raise wages, even without a minimum wage hike.

 

[zinfamous]

Inflation erodes buying power. Everyone knows this.

that's...not at all an answer to any question that I asked in that post.

 

[fskimospy]

Inflation erodes buying power. Everyone knows this.

Inflation also erodes the real value of debt. As the average American is a net debtor inflation helps the average person. If anything inflation has been too low for the last 12 years or so.

 

[zinfamous]

In a weird way, I'm actually Ok with some things being more expensive or harder to get. The one thing that everyone doesn't need is more shit.
Americans could use a lesson in becoming more resourceful and using what they have instead to it's fullest.

Gas will be forever, criminally underpriced in this country.

It won't be reasonable and acceptable until we hit at least $10/gallon at the pumps--whether that's by state and federal taxes or other fees imposed on specific users--say, like start charging Wal Mart, Amazon, et al, their cost/mile of use when it comes to infrastructure costs. I'd rather like to see these massive entitled corporations pay for what they actually use, rather than you and I paying for that.

I say propose as much, see them start screaming.

 

[Fenixgoon]

Gas will be forever, criminally underpriced in this country.

It won't be reasonable and acceptable until we hit at least $10/gallon at the pumps--whether that's by state and federal taxes or other fees imposed on specific users--say, like start charging Wal Mart, Amazon, et al, their cost/mile of use when it comes to infrastructure costs. I'd rather like to see these massive entitled corporations pay for what they actually use, rather than you and I paying for that.

I say propose as much, see them start screaming.

The sad and problematic part is that rising gas prices hurt poor people the most.

I got into a little bit of an argument with a girl I was dating because she was really upset at how much it cost to fill her truck (she commutes about 40mins for work...in a truck with a 22gal tank). She asked why Biden wasn't doing more to help with gas prices (nevermind that he can't, gas prices are still relatively low when accounting including inflation, and it's a market commodity whose pricing is subject to supply and demand fluctuations...not that any of that would have changed her opinion).

I wasn't particularly surprised by the cost - she has a truck. It has the aerodynamics of a brick. And it has a 22gal tank.
But for her, gas going up from barely over $2/gal to about $3/gal and that was huge because she doesn't make a ton of money.

My commute is 1.5miles so I don't even pay attention. I purposefully bought a more fuel-efficient vehicle and purposefully located myself close to work so as to avoid commuting. But even if gas prices spiked to $10/gal, my income means that it's just added cost, whereas for her it would be a difference between making or breaking paychecks.

And a lot of people will take rising gas prices as the president not doing anything, even though it is completely out of his control.

 

[K1052]

The sad and problematic part is that rising gas prices hurt poor people the most.

I got into a little bit of an argument with a girl I was dating because she was really upset at how much it cost to fill her truck (she commutes about 40mins for work...in a truck with a 22gal tank). She asked why Biden wasn't doing more to help with gas prices (nevermind that he can't, gas prices are still relatively low when accounting including inflation, and it's a market commodity whose pricing is subject to supply and demand fluctuations...not that any of that would have changed her opinion).

I wasn't particularly surprised by the cost - she has a truck. It has the aerodynamics of a brick. And it has a 22gal tank.
But for her, gas going up from barely over $2/gal to about $3/gal and that was huge because she doesn't make a ton of money.

My commute is 1.5miles so I don't even pay attention. I purposefully bought a more fuel-efficient vehicle and purposefully located myself close to work so as to avoid commuting. But even if gas prices spiked to $10/gal, my income means that it's just added cost, whereas for her it would be a difference between making or breaking paychecks.

And a lot of people will take rising gas prices as the president not doing anything, even though it is completely out of his control.

Cheap gas got us into this since automakers could churn out ever larger vehicles with shitty MPG and millions of Americans would buy them.

The trucks are just getting comically large these days. In my last apartment building some idiot smashing into the sprinkler pipes in the garage was at least a monthly occurrence. Nobody in my street can fit them into their garages or carports either.

 

[Homerboy]

The sad and problematic part is that rising gas prices hurt poor people the most.

I got into a little bit of an argument with a girl I was dating because she was really upset at how much it cost to fill her truck (she commutes about 40mins for work...in a truck with a 22gal tank). She asked why Biden wasn't doing more to help with gas prices (nevermind that he can't, gas prices are still relatively low when accounting including inflation, and it's a market commodity whose pricing is subject to supply and demand fluctuations...not that any of that would have changed her opinion).

I wasn't particularly surprised by the cost - she has a truck. It has the aerodynamics of a brick. And it has a 22gal tank.
But for her, gas going up from barely over $2/gal to about $3/gal and that was huge because she doesn't make a ton of money.

My commute is 1.5miles so I don't even pay attention. I purposefully bought a more fuel-efficient vehicle and purposefully located myself close to work so as to avoid commuting. But even if gas prices spiked to $10/gal, my income means that it's just added cost, whereas for her it would be a difference between making or breaking paychecks.

And a lot of people will take rising gas prices as the president not doing anything, even though it is completely out of his control.

While I understand the example and can be empathetic of it, I guess my point is that these are the exact sort of habits, lifestyles and choices that we as Americans need to have corrected. Clearly having a low mpg truck for a long(ish) commute is a bad idea and not very practical. Live closer to the job. Get a more fuel economic means of transportation (hello hybrids and EVs!) This is where Americans are just flat out spoiled and selfish about things and it drives me nuts. We need to evolve past this and start living lives in a smarter fashion and not in a "I want!!!" fashion.

 

[s0me0nesmind1]

While I understand the example and can be empathetic of it, I guess my point is that these are the exact sort of habits, lifestyles and choices that we as Americans need to have corrected. Clearly having a low mpg truck for a long(ish) commute is a bad idea and not very practical. Live closer to the job. Get a more fuel economic means of transportation (hello hybrids and EVs!) This is where Americans are just flat out spoiled and selfish about things and it drives me nuts. We need to evolve past this and start living lives in a smarter fashion and not in a "I want!!!" fashion.

The sad and problematic part is that rising gas prices hurt poor people the most.

I got into a little bit of an argument with a girl I was dating because she was really upset at how much it cost to fill her truck (she commutes about 40mins for work...in a truck with a 22gal tank). She asked why Biden wasn't doing more to help with gas prices (nevermind that he can't, gas prices are still relatively low when accounting including inflation, and it's a market commodity whose pricing is subject to supply and demand fluctuations...not that any of that would have changed her opinion).

I wasn't particularly surprised by the cost - she has a truck. It has the aerodynamics of a brick. And it has a 22gal tank.
But for her, gas going up from barely over $2/gal to about $3/gal and that was huge because she doesn't make a ton of money.

My commute is 1.5miles so I don't even pay attention. I purposefully bought a more fuel-efficient vehicle and purposefully located myself close to work so as to avoid commuting. But even if gas prices spiked to $10/gal, my income means that it's just added cost, whereas for her it would be a difference between making or breaking paychecks.

And a lot of people will take rising gas prices as the president not doing anything, even though it is completely out of his control.

"Stop spending so much money on things you don't need"

"Pull yourselves up by your bootstraps"


You guys are sounding Republican already

 

[ondma]

Your own article disproves your claim that chicken is the victim of inflation, it's just increased demand. That's the same with gas - production was kept low during the pandemic, demand has surged as everything is opening up, and production has not been adjusted enough. Lumber is part of a boom in housing and construction in general such as upgrades to homes, or haven't you heard?

None of those three products price increases has anything to do with inflation.

Aren't rising prices the very definition of inflation? Your comment is like saying the ocean isn't wet. Now granted this inflation is in a limited number of goods, and perhaps is temporary, so is not a complete picture of the overall inflationary pressure. Part of the rise of prices is also simply a return to pre-pandemic levels after being severely depressed during the shutdown.

In fact, though, I think we will face an inflationary danger as the economy restarts. Before we blame Biden and the Dems though, let us not forget that the Govt basically started pumping out free money under Trump in order to keep the market pumped up while the economy was shut down.