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Message
1
Posted on 5/7/21 at 8:18 am to Jbird
Create a virus. Tank the economy. Assume control of production.
Everything going according to plan.
Everything going according to plan.
Posted on 5/7/21 at 8:28 am to Robin Masters
Along with a working vaccine, Joe Biden inherited a V-shaped economic recovery, but he is now planting the seeds of its destruction. Inflation, federal deficits, high taxes, incentives for workers to stay home, and incentives to avoid investment – they’re all coming back. Together, these elements create the perfect brew for a Lyndon Johnson-style stagflation. If Biden and the Democrats so quickly wreck the good economic path they were given, it will be one of the worst examples of government malpractice in U.S. economic history.
The extra stimulus is already beginning to show up in the form of inflation – too much money chasing too few goods. “We are seeing substantial inflation,” Warren Buffett declared at his annual shareholders meeting. “We are raising prices. People are raising prices to us, and it’s being accepted.”
Signs of inflation are clear. The price of copper hit a 10-year high at the end of April – about $9,990/ton as compared to about $5,000 in January 2020, before COVID struck. Similarly, “lumber prices seem to set a new record almost daily,” CNBC reported on April 30, “now up 67% this year and up 340% from a year ago.” The past year’s surge in lumber prices has added $35,872 to the price of an average new single-family home, according to the National Association of Home Builders.
At the same time, the New York Times reported on April 16, at least some businesses face a “catastrophic inability to hire.” One explanation: “the combined $2,000 per-person cash payments enacted since late last year created a cushion people can rely on for a time. ... Ample economic research shows that more generous unemployment benefits are a disincentive for people to seek work or accept work.” LINK
The extra stimulus is already beginning to show up in the form of inflation – too much money chasing too few goods. “We are seeing substantial inflation,” Warren Buffett declared at his annual shareholders meeting. “We are raising prices. People are raising prices to us, and it’s being accepted.”
Signs of inflation are clear. The price of copper hit a 10-year high at the end of April – about $9,990/ton as compared to about $5,000 in January 2020, before COVID struck. Similarly, “lumber prices seem to set a new record almost daily,” CNBC reported on April 30, “now up 67% this year and up 340% from a year ago.” The past year’s surge in lumber prices has added $35,872 to the price of an average new single-family home, according to the National Association of Home Builders.
At the same time, the New York Times reported on April 16, at least some businesses face a “catastrophic inability to hire.” One explanation: “the combined $2,000 per-person cash payments enacted since late last year created a cushion people can rely on for a time. ... Ample economic research shows that more generous unemployment benefits are a disincentive for people to seek work or accept work.” LINK
Posted on 5/7/21 at 8:39 am to ninthward
We need a sarcasm font
Posted on 5/7/21 at 8:40 am to Jbird
quote:
Economy adds 266K jobs in April, far below expectations
Stop paying people to stay at home!
Posted on 5/7/21 at 8:43 am to Jbird
Posted on 5/7/21 at 8:51 am to Jbird
Gives him leverage to pass his bill now
Posted on 5/7/21 at 8:52 am to Nonetheless
Watch the markets will advance again because with all the government injection and artificially low interest rates there is nowhere else for yield seekers to put money. This should be a down day in a normal market not artificially pumped by the fed.
Posted on 5/7/21 at 8:55 am to Jbird
quote:
The U.S. economy added 266,000 jobs in April and the unemployment rate rose to 6.1 percent
Yeah, the maybe lower than expected, but the important thing, y-y-you got to, go ask yourself, I said to Jill, I'm her husband, is, out of that 266,000 jobs, how many are good paying green jobs, that going to non-binary, LGBTU, woman, Latinx People of Color. C'mon, folks. We got to keep the weather from changing. I'm gonna be in trouble. - Joe Biden, probably.
Posted on 5/7/21 at 9:22 am to Jbird
I see the word "unexpectedly" has made it's return to these reports.
Posted on 5/7/21 at 9:22 am to Jbird
quote:
an unexpectedly poor showing falling well below expectations
Uh huh.
I remember these same stories when Barry was in office. It was always “below expectations” according to economists.
Only to idiots, academics and ideologues will this be a shock.
Posted on 5/7/21 at 9:30 am to Eurocat
You’re ignoring a raft of other benefits.
But post this in every thread.
But post this in every thread.
Posted on 5/7/21 at 9:30 am to Eurocat
quote:
They are NOT making more staying home.
The unemployment insurance is $107 to $247 a week (in Louisiana). Thats less than 13k a year.
Now add in the federal supplement and get back to us
I'll do the math for you
107$+$300 = $407
Just to make the math easy to 50x400 = 20K
And the minimum in LA is lower than in most other states
This post was edited on 5/7/21 at 9:32 am
Posted on 5/7/21 at 9:33 am to Powerman
The dim party has fricked everything up and they shouldn't even be in charge.
Posted on 5/7/21 at 9:36 am to Jbird
Starvation is a wonderful motivator. Look at the millions that travel across Mexico on a yearly basis.
Posted on 5/7/21 at 9:52 am to Jbird
Only in a democrat regime would you have rising unemployment AND a labor shortage.
Posted on 5/7/21 at 9:55 am to Taxing Authority
quote:
Only in a democrat regime would you have rising unemployment AND a labor shortage.
Combined with inflation. Welcome back to stagflation
Posted on 5/7/21 at 10:01 am to Jbird
The current administration is very happy to see this.
All by design.
All by design.
Posted on 5/7/21 at 10:11 am to Jbird
quote:
unexpectedly poor showing
The Obama language returns to reporting. 
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