Economics Thread

[sturg33]

If you believe the official numbers (which you should't... reality is much worse)... your money is losing 1% of its value every 30 days

I was reliably lectured this wasn't a thing.

And I fondly remember golds classic "lol" posts in response to concerns over inflation

The rich are doing just fine, by the way... as markets make fresh all time highs

[Tapate50]

He’s trying hard not to poop himself there.

[thethe]

Amazing that this regime is now demanded lower energy costs yet crippled America’s energy economy.

Imagine how stupid you had to be to vote for Biden.

Should make you ineligible to vote in future elections.

[sturg33]

I'm still eagerly awaiting mat's explanation of what he finds is going so much better than then last regime

[thethe]

I'm still eagerly awaiting mat's explanation of what he finds is going so much better than then last regime

Like all the other communists they have to wait till Maddow tells them what to think.

[acesfull86]

https://reason.com/2021/11/10/develo...ot-initiative/

It's only been a week since voters in St. Paul, Minnesota, approved a sweeping rent control ballot initiative, but developers are already pausing projects while city leaders scramble to amend the most harmful aspects of the new law.

In last Tuesday's municipal election, 52 percent of voters approved Question 1, an ordinance that puts a hard annual 3 percent cap on rent increases. It makes no allowances for inflation or exemptions for vacant apartments and new construction that are typical in other rent control policies.

The new ordinance doesn't go into effect until May 2022. Nevertheless, several real estate companies with large projects in the works have already announced that they're pulling their permit applications.

That includes Ryan Companies. Local NBC affiliate KARE 11 reports that the company pulled applications for three buildings in its proposed 3,800-unit Highland Bridge project.

"The City and Ryan took great care in creating a finance plan that leveraged market rate developments to provide funding to support deeply affordable housing creation both at Highland Bridge and throughout Saint Paul," said a company executive in a statement to KARE 11. "The rent control policy threatens the funding sources for market rate projects and therefore the overall finance plan for the development."

Other developers are singing a similar tune.

"We, like everybody else, are re-evaluating what—if any—future business activity we'll be doing in St. Paul," Jim Stolpestad, founder of development company Exeter, told the Minneapolis Star-Tribune.


———————

Who could’ve seen this coming? If only there was an academic discipline that could tell us what a price ceiling might do to supply…

[sturg33]

https://reason.com/2021/11/10/develo...ot-initiative/

It's only been a week since voters in St. Paul, Minnesota, approved a sweeping rent control ballot initiative, but developers are already pausing projects while city leaders scramble to amend the most harmful aspects of the new law.

In last Tuesday's municipal election, 52 percent of voters approved Question 1, an ordinance that puts a hard annual 3 percent cap on rent increases. It makes no allowances for inflation or exemptions for vacant apartments and new construction that are typical in other rent control policies.

The new ordinance doesn't go into effect until May 2022. Nevertheless, several real estate companies with large projects in the works have already announced that they're pulling their permit applications.

That includes Ryan Companies. Local NBC affiliate KARE 11 reports that the company pulled applications for three buildings in its proposed 3,800-unit Highland Bridge project.

"The City and Ryan took great care in creating a finance plan that leveraged market rate developments to provide funding to support deeply affordable housing creation both at Highland Bridge and throughout Saint Paul," said a company executive in a statement to KARE 11. "The rent control policy threatens the funding sources for market rate projects and therefore the overall finance plan for the development."

Other developers are singing a similar tune.

"We, like everybody else, are re-evaluating what—if any—future business activity we'll be doing in St. Paul," Jim Stolpestad, founder of development company Exeter, told the Minneapolis Star-Tribune.


———————

Who could’ve seen this coming? If only there was an academic discipline that could tell us what a price ceiling might do to supply…

Leftists are so stupid that their vote actively destroys the most vulnerable people in the country.

Their vote is actually literally harmful

[thethe]

The left is always late to the party.

[sturg33]

Buffoon approved NYT writer apparently is unaware that stocks and housing are at record prices

She probably is aware but knows her readers are too stupid to be

[Tapate50]

Buffoon approved NYT writer apparently is unaware that stocks and housing are at record prices

She probably is aware but knows her readers are too stupid to be

Thats some Cori Bush thinking right there.

[acesfull86]

Thats some Cori Bush thinking right there.

Some of these leftists are just incoherent when it comes to economics.

[thethe]

Buffoon approved NYT writer apparently is unaware that stocks and housing are at record prices

She probably is aware but knows her readers are too stupid to be

So wild how the left doesn't realize that the primary benefactor of their insane economic proposals are the super rich.

It shouldn't be too surprising considering the overwhelming majority of wealthy people donate to Democrats now.

[Tapate50]

Some people just want daddy government to take care of them.

[acesfull86]

https://www.google.com/amp/s/www.nyt...tions.amp.html

The Biden administration has rebranded its Build Back Better plan as part of a strategy to fight inflation. By subsidizing essential services like child care, the argument goes, American families and the broader economy will experience relief from the rapidly rising cost of living.

Yet something doesn’t add up. Consider that the current proposal would also dramatically shift the cost structure of child care upward with regulations mandating higher salaries, greater credentials and compliance with federal “quality standards.” Having made child care more expensive, it then proposes socializing over 90 percent of the cost for a subset of middle- and lower-income households. This won’t reduce rising prices so much as mask them. And with informal child care providers, including religious organizations, at risk of being crowded out, the true availability of low-cost child care could even contract.

This is an extreme example of what we call “Cost Disease Socialism” — addressing the increasing costs of supply-constrained goods and services by spreading the price among American taxpayers while leaving the cause of the underlying costs unaddressed.

[Tapate50]

Don’t show 57 that article… I’m not sure 57 could spin that as positive

[Krgrecw]

This is a good chat




If the container crisis happened under Trump would it be big news? Would trump solve the shipping backlog?



I believe he would

[57Brave]

Henry M. Rosenberg
@DoctorHenryCT
·
22h
Drug companies claim if drug prices are reduced or negotiated by Medicare,

they would not have money for R&D. Why would the first thing cut be R&D?

Why wouldn't it be lavish CEO compensation packages or advertising where

they lie to the public about their products?

[thethe]

Maybe you should look at a set of financials and see how much more R&D is than comp for the CEO.

You are by far the most financially illiterate person I’ve interacted with my entire life.

Should have a basic aptitude test to vote.

[57Brave]

maybe you should read what the writer wrote

[thethe]

maybe you should read what the writer wrote

Maybe you should understand basic economics before you compare a multi billion dollar cost bucket vs one that doesn’t eclipse 100m. But of course you don’t so this flies right over your head.