Jaw
It's OVER 5,000!
Oh my gosh.
Based on what I've seen at Home Depot and Kroger lately, Big Retail must be in on this conspiracy as well.
Economics Thread
- Thread starter sturg33
- Start date
Oh my gosh.
Based on what I've seen at Home Depot and Kroger lately, Big Retail must be in on this conspiracy as well.
He’s not entirely wrong. The side not in power at any given time absolutely loves to cherry pick whichever measure of the economy is worse for the side in power. I’m sure if Trump were in office, Republicans would be quick to point to the added jobs, stock prices and the anecdotal number of businesses hiring. I don’t feel rosy about the economy personally, but let’s not pretend that the talking heads on the Right are any more innocent than the Left shamelessly using jobless claims as a sign of strength.
Viewing it as neutrally as I can, that’s hard to claim. Many of the causes of our current economic situation began in 2020, and have a global aspect that neither President could likely impact greatly. I think there are some things Trump would do differently that might have changed some of the landscape, but my causes for concern are a continuation of policies and conditions that began during Trump’s term.
Please elaborate...
Did you miss a nice review of the 'Trump tax cuts' which proved to favor the middle class?
Or how about flexing energy dominance in an era of exploding energy costs?
How about the indecisiveness of businesses right now because they have no clue what their taxable obligations are going to be?
Maybe I’ve missed something, but have any of those tax cuts actually been repealed yet? I was under the impression that at the current moment that Biden’s only put forward proposals to repeal the previous policy.
Jaw
It's OVER 5,000!
I'm in agreement with you on talking heads propping things up. I was responding to Cajun making that comment. Last night I paid $6.19 for a pack of Land O Frost Black Forest ham that was 4.99 a year ago. 1.25 for hot dog buns that were 1.00 a year ago. 2.07 for Dole canned fruit cocktail that was 1.25 a year ago. I would have paid a stupid price for Capri Sun and Gatorade, but the store was out with signs on the shelves blaming supply line issues.
(Yes, it's weird that I notice this stuff. That's what hyperfocus and years of grocery industry experience does to a mind.)
sturg33
I
To be clear... inflation isn't just on Biden. The fed increased money supply by 40% in 2020. You can argue that was necessary blah blah... but creating that much money out of thin air is going to have consequences.
What was inexcusable was the passing of additional stimulus and spending bills in 2021. Along with extending unemployment benefits, and tightening regulations on the oil production market.
We would have seen inflation anyway thanks to the Trump years, but it is now in overdrive and they are threatening to pass BBB which is an unimaginable thing to do with a country that is seriously focused on inflation.
Frankly, the Fed has to start raising rates. But when they do, the country and most businesses costs will skyrocket in interest on their debt. It is a no win situation here and it is destined to collapse.
Plan accordingly
What was inexcusable was the passing of additional stimulus and spending bills in 2021. Along with extending unemployment benefits, and tightening regulations on the oil production market.
We would have seen inflation anyway thanks to the Trump years, but it is now in overdrive and they are threatening to pass BBB which is an unimaginable thing to do with a country that is seriously focused on inflation.
Frankly, the Fed has to start raising rates. But when they do, the country and most businesses costs will skyrocket in interest on their debt. It is a no win situation here and it is destined to collapse.
Plan accordingly
sturg33
I
I remember when that buffoon spent several posts lecturing me about how inflation wasn't a threat. He pulled some meat cost chart from like Brooklyn or something as his evidence.
He is the best contrarian indicator I've ever met. Too bad the coward ran away. Now I actually have to do my own research on things rather than do the opposite of what he lectures (eg. short TSLA at $700)
Jaw
It's OVER 5,000!
The surge in housing prices combined with higher interest rates will be interesting in an "oh, look, that train came off the rails" kinda way.
sturg33
I
Well, the people who have locked in their rates should be fine. But raising rates will hurt demand for new homes, which will in turn hurt home values.
I saw record net worth reported the other day thanks to housing values skyrocketing. They will crumble of course when the market does
sturg33
I
Inflation just printed a 40 year high.
Remember when you laughed at me when I told you about crazy grocery costs?
cajunrevenge
Well-known member
Just wait till they want to start boosting benefits because of inflation. I would also be shocked if the next Republican administration spends less than Biden is now.
cajunrevenge
Well-known member
This has been Trumps economy for the last year you goober. Just like the economy under Trumps first year wasnt the result of his doing. Can they effect it somewhat in their first year? Sure. But if we are being real I would put rate each Presidents economy from 1 year into their term to 1 year into their successors term.