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| Favorite team: | LSU  |
| Location: | Definitely NOT an admin |
| Biography: | I'm 5'2 and 300lbs of sexytime |
| Interests: | Poodles and Jello (but not always together) |
| Occupation: | Being THAT guy... |
| Number of Posts: | 57895 |
| Registered on: | 10/25/2008 |
| Online Status: | Not Online |
Recent Posts
Message
quote:
The phrase “and the horse you rode in on” doesn’t appear, unfortunately.
But the implication of it is definitely there. :lol:
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However, what in the world dictates the inflation target rate should be 2% in a Fiat economy with a $40T debt, and $2T deficits?
That's not the point, the point is that governmental entities are slow to change course especially when it's something the consider foundational to their mandate. A lot of that comes from how government likes to keep things as static as possible while also preferring remedies to be as "one size fits all" to be so as well.
After all the time and effort the Fed, multiple administrations and multiple Congresses have put into creating and reinforcing the 2% belief (which fulfills both drives of simplicity and being static), they aren't going to move away from it without there being some sort of irresistible market force which makes them change.
With all of that said and after your having followed the Fed for as long as you have, what other reasons could you see for them to abandon the 2% goal?
quote:
That 2% was "created" in 1988
That's the point though. They have now spent decades building and pushing a mythos around why that should be the target and thus far they have never wavered. Almost everything they've done since then has been about maintaining that rate as a ceiling, it's pretty much in the Fed's DNA now.
So, after all that time and effort, why would they pivot away from it?
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Sure jan gif
Explain what you disagree with and why.
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So if they shift to 2.5% who would even care
Eventually everyone.
The federal government has spent decades building up reasons for why they say it needs to be no higher than 2%. If they move that number up, it's going to be only because they've realized they've lost control. Inflation with no regulating mechanism and an active money printer ends only one way:
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I'm hopeful.
Superman was fun but needed some tweaks (Ma & Pa not being country bumpkins, for one).
Superman was fun but needed some tweaks (Ma & Pa not being country bumpkins, for one).
quote:
Are you aware of the origin of and/or rationale for the "2%" target? Most people aren't.
Wasn't it some Kiwi pulling a random number out of his arse during an interview?
re: Trump UFO disclosure predicted to come in just DAYS after mysterious 'insider' tip
Posted by Bard on 12/10/25 at 2:57 pm to Jim Rockford
quote:
after mysterious 'insider' tip
Just the tip?
:pimp:
re: How many of you La. folks buying tickets to see Kamala?
Posted by Bard on 12/10/25 at 2:08 pm to Y.A. Tittle
quote:
Think he passed away. Old Mid South wrastlin’ used to be at the Municipal Auditorium. Or sometimes at St Bernard Civic Center, I believe.
This is still far more entertaining than the shitshow Willie's former sidepiece will put on.
re: The Supreme Court Is Poised to Strike Down Race-Based Redistricting
Posted by Bard on 12/10/25 at 12:31 pm to Bonkers119
quote:
If you're having to cheat to have a chance in the midterms
But how else will Democrats win if they can't rely on the race-based districting cheat they've used for decades?
re: How many of you La. folks buying tickets to see Kamala?
Posted by Bard on 12/10/25 at 11:32 am to Y.A. Tittle
Was hoping for:
Disappointed.
Disappointed.
re: Trump says rate cuts are a litmus test for new Fed Chairman
Posted by Bard on 12/10/25 at 10:12 am to GREENHEAD22
quote:
We are going to get 15% inflation.
I mentioned in a thread on Poli that something to watch for will be whenever the Fed starts softening its stance on 2% being the inflation target. If we start seeing more generalized positioning like "in the 2% range" or "2% to 2.5%)" or "around 2%," that's going to be admitting "we no longer have the ability to hold inflation back."
But keep on with the $2T+ deficits, Congress. :casty:
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Mostly, there's a reason the Somalis chose to cut down the video and only upload 50 seconds of it. The 50 seconds they uploaded wasn't even in that clip from the other angle so that means they had to stay there and keep harassing her to get that reaction.
A bit Sandmann-esque.
re: Our Culture Would Be So Healthy if it KNEW the TRUTH About Slavery Historically!!
Posted by Bard on 12/10/25 at 9:27 am to Tchefuncte Tiger
quote:
some of the commenters who claim that, yes, slavery was bad, but American slavery was the worst
They do nothing but prove their own ignorance. The Trans-Saharan Slave Trade went on for FAR longer, impacted FAR more people and the Arabians were at least as bad as Westerners.
One of the big differences between the two trades was that the Saharan trade focused more on females (females were captured/traded 3:1 over males). Their primary duties were sex/harems and household chores while the males were field and construction laborers (males were routinely, but not always, castrated). Children fathered by the owners of a slave woman were considered free, but the father had to claim paternity. If the slave-owning father did not claim paternity, the child was a slave as well.
Thomas Sowell caused a bit of a firestorm when he published his research on the slave trade out of Africa a few years back. He directly contradicted the mythology Alex Haley attempted to create with "Roots".
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I’m not an economist - can someone tell me what’s so bad? Clearly, I’m missing it.
What's so bad isn't a product of Trump's economic policies, it's a product of over two decades of continual debt-building pushed by both sides of the political aisle AND how that constant debt accrual is what GDP growth has been dependent on for over a decade now.
Prior to the GFC, we had 1 year (1991 or 1992) where the federal deficit grew more than GDP (YoY whole numbers). Since the GFC, we've had only 2 or 3 years where GDP outgrew deficit spending. This means GDP growth being positive has become almost completely dependent on continued federal debt growth.
Currently annual deficits are expected to be $2T+ for as far as forecasting goes into the future. In no way is that sustainable and the longer it goes in, the worse it's going to get. The worse it gets, the more likely it becomes that investors begin shying away from US treasuries (buying that debt). As they shy away, yields have to rise to keep those treasuries moving in auction or else the Fed has to step in to avoid an auction failure (essentially QE).
If the economy is a dam holding back the waters of recession, we're just slapping paint over the small cracks we see then acting like everything is perfectly fine while we continue to paint over them again and again as they grow.
re: That darn Thomas Massie trying to be fiscally responsible again. MJ blocks him.
Posted by Bard on 12/10/25 at 6:03 am to Sassafrasology
MIC isn't going to allow that to happen.
quote:
This may shock you but New Orleanians aren’t bothered by immigrants. Our problems are all caused by locals (in government).
The problem isn't "immigrants," it's illegal immigrants and the willingness to accept them is no different than the willingness to elect and re-elect someone like Latoya.
re: How many on this forum over 50 thought the US would be facing collapse today?
Posted by Bard on 12/10/25 at 5:43 am to Bass Tiger
After the GFC I plotted out how long it would take the US to collapse based on continued debt accrual, it was something like 2032-2035. Debt accrual slowed down somewhat after the GFC, so it began pushing that timeframe back (since I was basing it on continued ~$1T deficits). Now, we're in overdrive with deficits expected to be $2T+ annually for the forecastable future.
If the Fed ever starts downplaying their traditional 2% inflation peg (especially if they raise it), go ahead and write it down that we're in the final lap before collapse because what they would really be saying is "the USD has been inflated so much and for so long that we can no longer control it." That would be bad.
If the Fed ever starts downplaying their traditional 2% inflation peg (especially if they raise it), go ahead and write it down that we're in the final lap before collapse because what they would really be saying is "the USD has been inflated so much and for so long that we can no longer control it." That would be bad.
re: 'Pluribus' Vince Gilligan’s new sci-fi show now streaming. Spoilers Allowed
Posted by Bard on 12/9/25 at 12:54 pm to TigerDeacon
quote:
What?
It is over 5,000 air miles from Paraguay to Albuquerque. Nevermind the Darian Gap. It is probably over 7,000 miles by roads, WHERE THERE ARE ROADS. It is 3,600 miles from Albuquerque to even get to the Darian Gap.
That's why I included the "at least according to AI" part. It seemed low to me at first blush, but I didn't have the time to actually plot it out when I was posting.
re: Brother's Food Mart in Kenner refused to serve Border Patrol agents, ETA: Update Page 3
Posted by Bard on 12/9/25 at 12:41 pm to lionward2014
quote:
If you want to say you want everyone illegally here to be deported it's okay to just say that.
I don't know of anyone not saying that. If you're here illegally,
quote:
Also, since when do we support forcing private businesses to serve everyone?
I'm fine with them not supporting ICE, but then I'm fine with private businesses refusing business from anyone for any reason. All I want is for such a business to advertise whom they discriminate against so I can know if I should even bother stopping in.
That said, I'm not fine with them harboring illegals and fricking over their employees.
re: Walmart had a employee come check if I scanned a one dollar item
Posted by Bard on 12/9/25 at 11:20 am to travelgamer
quote:
You down voters do even care that you are being filmed?
Not at all. There's always the potential you are being filmed whether it's some spy satellite and you just happen to be in its path, someone is videoing in the area and it has nothing to do with you, vehicle cameras, a drone flying by mapping terrain for some survey or other, etc. As technology develops, that potential grows.
Perhaps you should just stay inside?
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