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Started By
Message
re: CNBC: Fed again approves 0.75-point hike in response to rapid inflation
Posted on 11/2/22 at 3:53 pm to roadGator
Posted on 11/2/22 at 3:53 pm to roadGator
quote:
What’s your leftist solution? You keep asking for a conservative solution. Why not offer one from your perspective?
I don't think there is this magical bullet is the point.
The world is coming out of a pandemic, there are major concurrent events happening on a global scale: war that is causing fuel and food shortages, a variety of environmental phenomena causing disruptions in production and transportation, ongoing/lingering lockdowns affecting supply chains on a global level, shortages in key sectors like housing driving up prices, sustained upward pressure on wages in key industries that were/are experiencing shortages(and increasingly to keep up with inflation), opportunism of corporations raising prices.
There's not a simple answer and that is likely why conservatives simply stand and point at how bad things are then reserve the rest of their focus on crime/cultural grievances and leave out their solutions to the economy. Cause they know deep down they dont have an answer either. At least not one that doesn't involve the Feds across the globe continuing to jack up rates and at this point likely create a global recession, which will introduce new issues.
This post was edited on 11/2/22 at 3:58 pm
0
Posted on 11/2/22 at 3:55 pm to bad93ex
quote:
Not 100% but we are the largest producer right?
Sure but we (the US) are net importers of crude oil
Posted on 11/2/22 at 3:56 pm to hubertcumberdale
quote:
Sure but we (the US) are net importers of crude oil
Why is that?
Posted on 11/2/22 at 3:58 pm to bad93ex
Was looking at a used vehicle for the family backup today. Better get that ish financed quick while I can still get it at 5%
Posted on 11/2/22 at 4:00 pm to 3deadtrolls
quote:A large part of the population is very financially irresponsible.
They haven't slowed building and developing subdivisions here and prices are steady climbing.
Posted on 11/2/22 at 4:03 pm to bad93ex
quote:
Why is that?
Bc the US imports more than they export, still not sure how this means the US sets global energy prices
Posted on 11/2/22 at 4:05 pm to OysterPoBoy
quote:
No end in sight. I hope nobody needs a house in the next few years.
House prices are going down to compensate fwiw. I'll grab a decently cheaper house and refi in late 2023 early 2024.
Posted on 11/2/22 at 4:05 pm to hubertcumberdale
quote:
Bc the US imports more than they export, still not sure how this means the US sets global energy prices
Are you saying we don’t have the ability to obtain more domestically?
Posted on 11/2/22 at 4:07 pm to bad93ex
quote:
Are you saying we don’t have the ability to obtain more domestically?
Yes we do, but it takes time to drill and complete oil wells. Even so, 1,000 additional mbbls/d (peak us prod pre covid) from the USA isnt going to magically stop global inflation
Also, breakeven price of most shale plays is much higher today than it was in 2019 due to inflation of materials (steel, cement, labor, etc)
This post was edited on 11/2/22 at 4:11 pm
Posted on 11/2/22 at 4:09 pm to TBoy
quote:
which is higher in almost every other country.
Ah, picking up the white house's false talking point I see...
quote:
Country Last Previous Reference Unit
Turkey 83.45 80.21 Sep/22 %
Argentina 83 78.5 Sep/22 %
Netherlands 14.5 12 Sep/22 %
Russia 13.7 14.3 Sep/22 %
Italy 11.9 8.9 Oct/22 %
Euro Area 10.7 9.9 Oct/22 %
Germany 10.4 10 Oct/22 %
United Kingdom 10.1 9.9 Sep/22 %
Mexico 8.7 8.7 Sep/22 %
United States 8.2 8.3 Sep/22 %
Singapore 7.5 7.5 Sep/22 %
South Africa 7.5 7.6 Sep/22 %
India 7.41 7 Sep/22 %
Australia 7.3 6.1 Sep/22 %
Spain 7.3 8.9 Oct/22 %
Brazil 7.17 8.73 Sep/22 %
Canada 6.9 7 Sep/22 %
France 6.2 5.6 Oct/22 %
Indonesia 5.71 5.95 Oct/22 %
South Korea 5.7 5.6 Oct/22 %
Switzerland 3.3 3.5 Sep/22 %
Saudi Arabia 3.1 3 Sep/22 %
Japan 3 3 Sep/22 %
China 2.8 2.5 Sep/22 %
So SOME of the socialist leaning EU countries, which we clearly aspire to be, are higher than us, but most of the rest of the civilized world has less inflation. And the thing is, virtually every single country on that list does not have the power to cure their own inflation woes like we do.
This post was edited on 11/2/22 at 4:26 pm
Posted on 11/2/22 at 4:10 pm to hubertcumberdale
quote:
Yes we do, but it takes time to drill and complete oil wells. Even so, 1,000 additional mbbls/d (peak us prod pre covid) from the USA isnt going to magically stop global inflation
Aren’t some of the prices based upon forecasts of production? If the US added that 1000 Mbbls magically overnight, what would happen to energy prices?
Posted on 11/2/22 at 4:11 pm to bad93ex
quote:
I'm genuinely curious what the so called "conservative" solution is to inflation??? And what evidence they have to support it?
1) Stop printing and giving away trillions of dollars
2) Aggressively restart our domestic energy production, building pipelines, removing moratoriums, building refineries, etc
It's really that simple. The proof is, well, basic economics.
This post was edited on 11/2/22 at 4:12 pm
Posted on 11/2/22 at 4:14 pm to member12
I hope those that were pumping the market the past few weeks pushing rumors of a "pivot" were destroyed today.
Posted on 11/2/22 at 4:15 pm to Ghost of Colby
How about we do without fascism and inflation? Getting rid of the Democrats would solve both.
- No more weaponizing government agencies to attack political enemies.
- No more lockdowns like in Red China.
- No more collaborating with the media to suppress opposition viewpoints.
- No more inflation that was caused by lockdowns and excessive cash payments to Democrat voters.
- No more weaponizing government agencies to attack political enemies.
- No more lockdowns like in Red China.
- No more collaborating with the media to suppress opposition viewpoints.
- No more inflation that was caused by lockdowns and excessive cash payments to Democrat voters.
Posted on 11/2/22 at 4:22 pm to Penrod
quote:
- No more weaponizing government agencies to attack political enemies.
- No more collaborating with the media to suppress opposition viewpoints.
These two things are literally fascism, owned by the left, yet the right is continually labeled as fascists by the left. fricking clown world
Posted on 11/2/22 at 4:23 pm to Chucktown_Badger
quote:
These two things are literally fascism, owned by the left, yet the right is continually labeled as fascists by the left. fricking clown world
It's (D)ifferent, they're fighting for democracy!
Posted on 11/2/22 at 4:27 pm to Penrod
quote:
How about we do without fascism and inflation? Getting rid of the Democrats would solve both.
- No more weaponizing government agencies to attack political enemies.
- No more lockdowns like in Red China.
- No more collaborating with the media to suppress opposition viewpoints.
- No more inflation that was caused by lockdowns and excessive cash payments to Democrat voters.
So what's Hungary and the UK's excuse?
Overwhelming majority conservative governments all that have higher rates of inflation. Hell in Hungary they have basically done what you want and functionally banned opposition parties.
It's convenient to try and propose that the solution to the issue is the same thing you'd want to do even if the economy was booming(ban/kill? your political opposition), but then it begs the question why conservative governments like the UK or Hungary cant seem to fix inflation on their fronts either?
Or why so-called socialist countries like Switzerland, Canada, Norway, and France have lower rates of inflation? Why China and their "Zero Covid" lockdowns have some of the lowest inflation rates currently in the world?
This post was edited on 11/2/22 at 4:31 pm
Posted on 11/2/22 at 4:28 pm to bad93ex
quote:
It's (D)ifferent, they're fighting for democracy!
Nothing says fighting for democracy like attempting to police thought and speech, canceling people from their jobs and way of life for expressing views that do not align with the current administration and their fringe, and railing against giving rights on issues back to the states and the voters to decide.
Posted on 11/2/22 at 4:33 pm to Bronc
quote:
So what's Hungary and the UK's excuse?
Didn't they rely on Russia for their energy?
quote:
Why China and their "Zero Covid" lockdowns have some of the lowest inflation rates currently in the world?
Yeah...totally believable numbers being reported out of China.
Posted on 11/2/22 at 4:34 pm to Bronc
So we're vacillating between one of you progs claiming basically every other country has worse inflation (patently false) and one of you asking why every country doesn't have worse inflation than us.
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