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re: Dow selloff intensifies after Powell suggests that rates to be higher than anticipated
Posted on 3/7/23 at 1:20 pm to fallguy_1978
Posted on 3/7/23 at 1:20 pm to fallguy_1978
quote:Watching Powell try to dance around this question was the most entertaining part of that hearing.
The Fed needs a lot of people to lose their jobs and that's ultimately what's going to happen.
That and John Kennedy and Elizabeth Warren completely making asses of themselves. I thought Powell was going to laugh at Kennedy.
Whoever above mentioned the Fed waited too long is correct. The fed has a tough job and essentially only 2 tools to do their job. To have this "soft landing" they keep speaking of, they would have had to start this process a lot sooner than they did, IMO.
We'll really see things get interesting with 2024 election season not too far away.
1
Posted on 3/7/23 at 1:22 pm to Cycledude
quote:Some of the covid disruptions have been annoyingly persistent. In one business I own, we needed a specific type of electrical panel to complete some facilities. Only just now are we now able to get them.
So the problem with inflation is you have too much demand and not enough supply. So why can’t we ramp up supply? I know it’s a complicated issue, just wondering what some knowledgeable people on the OT think?
At home, I purchased a new fridge back in March 2022 - it is SUPPOSEDLY, FINALLY being delivered late next month.
Posted on 3/7/23 at 1:22 pm to musty
Both
Posted on 3/7/23 at 1:23 pm to saint tiger225
quote:
To have this "soft landing" they keep speaking of, they would have had to start this process a lot sooner than they did, IMO.
No doubt. They were oblivious to what was happening in the real world and should have started raising rates several months before they did.
Posted on 3/7/23 at 1:24 pm to musty
quote:
Efficiently, or cheaply?
Both.
Advanced economies outsource things that are produced more efficiently (all inputs)
Posted on 3/7/23 at 1:29 pm to member12
Surprised no one has mentioned the shite show of each dem opening their time with statements that the fed needs more diversity on their board, particularly Latino.
Posted on 3/7/23 at 1:36 pm to notiger1997
I'd just like to see people who know wtf they're doing. Especially in the FED and SEC.
I don't care what race, gender, religious beliefs, etc etc they are/have. We just need to get people who have a better understanding of things. Gary Gensler has proven he's a joke, Powell is going down the same path.
I don't care what race, gender, religious beliefs, etc etc they are/have. We just need to get people who have a better understanding of things. Gary Gensler has proven he's a joke, Powell is going down the same path.
Posted on 3/7/23 at 1:39 pm to member12
This is great news for us millennials with a lot of time left in the market. Great buying opportunities abound!!
Posted on 3/7/23 at 1:40 pm to member12
Buy low, sell high
MBA in 4 words
MBA in 4 words
Posted on 3/7/23 at 1:43 pm to saint tiger225
quote:Too fricking bad.
I don't care what race, gender, religious beliefs, etc etc they are/have. We just need to get people who have a better understanding of things. Gary Gensler has proven he's a joke, Powell is going down the same path.
This is the world everyone wants.
“Understanding” is a useless trait in 2023.
Everyone wanted DIE, so y’all get DIE.
Posted on 3/7/23 at 1:43 pm to frequent flyer
quote:
Inflation has gotten so bad that almost all of their discretionary income is now going to essentials.
Thats not true at all
Posted on 3/7/23 at 1:47 pm to member12
It's going exactly according to the dems plan regarding public dependency on the government.
Posted on 3/7/23 at 1:49 pm to frequent flyer
quote:
Problem is that people aren't earning enough supplemental income to actually curb spending. Inflation has gotten so bad that almost all of their discretionary income is now going to essentials.
Have you been to the store?
I’m the only person who doesn’t have an ebt card in the whole world
Posted on 3/7/23 at 2:02 pm to Cycledude
Inflation is a multi faceted issue
There’s the cost of transport, material, labor which is what it is. The method of payment is what is tricky.
Consider that there has been inflation in some countries which has nothing to do with the cost of material, transport, or labor. It had to do with the currency alone.
A simple example-
A light bulb made last week and sitting on the shelf in the store is priced by the merchant. A week later, it gets repriced upward. Inflation.
But what changed?
Nothing at all changed with the light bulb.
It was devaluation of the currency
So a part of what we’re seeing today is a mix of things but including the devaluation of our currency. .
There’s the cost of transport, material, labor which is what it is. The method of payment is what is tricky.
Consider that there has been inflation in some countries which has nothing to do with the cost of material, transport, or labor. It had to do with the currency alone.
A simple example-
A light bulb made last week and sitting on the shelf in the store is priced by the merchant. A week later, it gets repriced upward. Inflation.
But what changed?
Nothing at all changed with the light bulb.
It was devaluation of the currency
So a part of what we’re seeing today is a mix of things but including the devaluation of our currency. .
This post was edited on 3/7/23 at 2:03 pm
Posted on 3/7/23 at 2:04 pm to SlidellCajun
What will this do to used car prices?
Posted on 3/7/23 at 2:05 pm to el Gaucho
quote:
I’m the only person who doesn’t have an ebt card in the whole world
Well, you and me.
Posted on 3/7/23 at 2:09 pm to SlidellCajun
quote:
A simple example- A light bulb made last week and sitting on the shelf in the store is priced by the merchant. A week later, it gets repriced upward. Inflation. But what changed? Nothing at all changed with the light bulb.
It was devaluation of the currency
So a part of what we’re seeing today is a mix of things but including the devaluation of our currency. .
A lot of people can’t seem to grasp that the store doesn’t just price their lightbulb at what it cost to buy that particular lightbulb, when it comes to setting the price of merchandise at any given time they also have to factor in what it will cost to buy the next lightbulb they plan to sell.
Posted on 3/7/23 at 2:10 pm to SlidellCajun
quote:
It was devaluation of the currency
Thats what happens when the politicians fire up the cash printers for those stimmies.
Posted on 3/7/23 at 2:10 pm to MorbidTheClown
quote:
But, Joe told be the economy is great and Americans are in great financial shape.
Strongest economy in history
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