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Started By
Message
re: Prices of goods we use every day are rising at their fastest pace in three years
Posted on 5/5/21 at 8:00 am to wadewilson
Posted on 5/5/21 at 8:00 am to wadewilson
quote:
The hyperinflation in Germany during the early years after WWI is well documented.
AFTER WWI. What does that have to do with us now? In an industrialized America 100 years later? I get we're on a gray path but come on. Using bread in Germany 1923 is bulsh as a trend market. Don't you think?
0
Posted on 5/5/21 at 8:01 am to TaderSalad
quote:
But Trump was a meanie poopy head
Stop with the Trump BS. Trump was spending like crazy also. This is a bipartisan phenomenon that Trump did nothing to prevent.
Posted on 5/5/21 at 8:01 am to wadewilson
Yeah, that's what my cousin that's a corn farmer in Illinois told me. They've had a couple of late frosts this year which has delayed his planting. He's only a small time farmer though and just sells his crop locally. I think the first two I mentioned are having a bigger impact on corn prices.
Posted on 5/5/21 at 8:02 am to Scruffy
quote:
Scruffy won’t be surprised if another stimulus check is pushed through.
Its coming by the end of summer
Posted on 5/5/21 at 8:03 am to Animal
quote:
The market is way over due for a correction.
You are about to have a foreclosure/eviction extravaganza.
I could continue but I am tired of typing...
And when the economic hardship comes AOC’s brand of socialism will sound very good to a lot of numbskulls.
Posted on 5/5/21 at 8:03 am to Animal
My only hope is the rest of the world is so screwed it offsets the damage we’ve done to ourself.
Posted on 5/5/21 at 8:05 am to Salmon
quote:
Biden is going to grab the torch and keeping running with it, and should not be absolved from blame, but to act like we wouldn't be dealing with the exact same issues with a Trump presidency is moronic.
Ehh you forget one thing though. Trump let governors do as they please.
The economy and states would have been shut down longer under a Dem president. Biden is talking about job growth. Yeah because republican governors said frick off.
Sure isn't because of people like Cuomo, Whitmer, Gavin or fricking Joe Biden
This post was edited on 5/5/21 at 8:06 am
Posted on 5/5/21 at 8:05 am to stout
Surprised lumber wasn't mentioned.
Posted on 5/5/21 at 8:06 am to SelaTiger
Send me another stimulus Sleepy Joe
Posted on 5/5/21 at 8:06 am to Penrod
quote:
Stop with the Trump BS. Trump was spending like crazy also. This is a bipartisan phenomenon that Trump did nothing to prevent.
He also kept saying repeatedly that the answer wasn’t more stimulus and that we need to open everything up and get back to work.
He was forced to pass stimulus if he wanted to have any chance to win the election.
It all goes back to the democrats overreaction to the China virus as a way to get trump out of office. Without the ridiculous over reaction from democrats cities none of this would have happened
Posted on 5/5/21 at 8:07 am to Penrod
quote:
And when the economic hardship comes AOC’s brand of socialism will sound very good to a lot of numbskulls.
Bingo....great observation. Folks will eventually not only accept it but they will beg for it.
Posted on 5/5/21 at 8:07 am to GetCocky11
quote:It is human nature to reject the possibilities of an event like this until it happens.
So much melodrama in this thread.
There were likely countless people saying the same thing in 1928.
And, no, that isn’t Scruffy saying that there is a repeat of the Great Depression on the horizon.
Posted on 5/5/21 at 8:09 am to WaWaWeeWa
OMB. God you people are dense as frick. Probably the sane idiots that voted for our dumbass governor.
Posted on 5/5/21 at 8:09 am to Salmon
quote:
1) Trump wasn't POTUS the last time we saw inflation like this
There was mass inflation under Trump? Link?
quote:
Biden is going to grab the torch and keeping running with it
At least Trump tried to cut the pork out of the bills under him. Joe isn't even hiding it. We don't need the majority of what is in the infrastructure bill. SO much fat it's ridiculous.
Posted on 5/5/21 at 8:11 am to Scruffy
quote:
everyone hypocritically backed Trump’s, which was multiples larger.
Not everyone but at least he tried to combat as much fat in the bills as he could. He at least negotiated.
quote:
It should never have been done.
Agreed but sadly the way Covid was weaponized and held this country hostage sort of left him no choice to pass at least one bill.
Posted on 5/5/21 at 8:11 am to stout
And to think the government is still trying to increase the taxes or minimum wage.
FYI, OP this post would have been a lot better had you edited your sig to increase the price.
FYI, OP this post would have been a lot better had you edited your sig to increase the price.
Posted on 5/5/21 at 8:13 am to WaWaWeeWa
quote:
He also kept saying repeatedly that the answer wasn’t more stimulus and that we need to open everything up and get back to work.
Which is fine. But that would've had no impact on the import/export shipping issues we still face today. Raw materials, commodities would still be scarce etc etc.
Posted on 5/5/21 at 8:15 am to Sao
quote:
But that would've had no impact on the import/export shipping issues we still face today. Raw materials, commodities would still be scarce etc etc.
How would getting people back to work not help with commodities? One of the issues with lumber right now is sawmills weren't running at 100% for a long time and some still aren't.
Posted on 5/5/21 at 8:15 am to stout
At the risk of being the contrarian in this thread, I think a lot of folks are really failing to grasp the difference in consequences between inflation and deflation.
Rapid deflation means your money will be worth more tomorrow than it is today. This incentivizes saving over spending, which reduces both consumer demand and business investment. Generally speaking, this happens because the economy is producing more than it can consume. The low demand further reduces prices (more deflation) and ultimately leads to a reduction in supply - e.g. layoffs, and it can snowball as it did during the Great Depression.
Rapid inflation means your money will be worth less tomorrow than it is today. This incentivizes spending - not saving - both for consumers and for businesses. Generally speaking, this happens because the economy cannot produce enough goods to satisfy demand. Higher prices lead to more jobs (lower unemployment).
Historically, inflation is much less destructive than deflation as long as the overall economy is capable of increasing outputs enough to satisfy the demand for goods. Venezuela is the classic case of hyperinflation spiraling over many years, but one of the main drivers in Venezuela is their economy’s reliance on oil production. The oil crashes (1980’s and 2015-present) have decimated their economy. The US economy is much more robust and diversified.
My point is this: it’s easy to point to the stimulus, and the Fed’s actions, as the source of inflation. The part that’s not easy is determining what would have happened if those actions had not been taken. If inaction led to rapid deflation, that would have been worse.
Rapid deflation means your money will be worth more tomorrow than it is today. This incentivizes saving over spending, which reduces both consumer demand and business investment. Generally speaking, this happens because the economy is producing more than it can consume. The low demand further reduces prices (more deflation) and ultimately leads to a reduction in supply - e.g. layoffs, and it can snowball as it did during the Great Depression.
Rapid inflation means your money will be worth less tomorrow than it is today. This incentivizes spending - not saving - both for consumers and for businesses. Generally speaking, this happens because the economy cannot produce enough goods to satisfy demand. Higher prices lead to more jobs (lower unemployment).
Historically, inflation is much less destructive than deflation as long as the overall economy is capable of increasing outputs enough to satisfy the demand for goods. Venezuela is the classic case of hyperinflation spiraling over many years, but one of the main drivers in Venezuela is their economy’s reliance on oil production. The oil crashes (1980’s and 2015-present) have decimated their economy. The US economy is much more robust and diversified.
My point is this: it’s easy to point to the stimulus, and the Fed’s actions, as the source of inflation. The part that’s not easy is determining what would have happened if those actions had not been taken. If inaction led to rapid deflation, that would have been worse.
This post was edited on 5/5/21 at 9:00 am
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