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Author Topic: Biden's Cascade of Failure!  (Read 21979 times)

ThatChrisGuy

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Re: Biden's Cascade of Failure!
« Reply #270 on: June 15, 2022, 08:27:26 PM »
  My bad...you still posted it.  Ah well.  All those corporations are led by lefties.  Think about that for a while.

I'm guessing it's all the privatelly owned Venezuelan conporations driving the inflation there too... Oh, wait!

Inflation is ALWAYS due to someone, somewhere, somehow printing (creating actually) more money.

Lets see if even his retarted leftard brain can grasp this fact when confronted with someone explaining it.



I remember when Biden said "Milton Friedman is no longer running the show" I knew we were fucked.
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HappyDaze

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Re: Biden's Cascade of Failure!
« Reply #271 on: June 15, 2022, 08:29:37 PM »
  My bad...you still posted it.  Ah well.  All those corporations are led by lefties.  Think about that for a while.
All those corporations are politically shifty and go whatever way makes the more money. That used to be to the right, but now it's often more profitable to swing left. That's not saying they gave two shits about either side--its all just business to them.

Shasarak

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Re: Biden's Cascade of Failure!
« Reply #272 on: June 15, 2022, 08:38:12 PM »
Corporate profits up 25%

Its the Trumptards fault!   :o


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Pat

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Re: Biden's Cascade of Failure!
« Reply #273 on: June 15, 2022, 09:37:49 PM »

https://live.staticflickr.com/65535/52149642491_fb7953f2cf_k.jpg
I literally pointed out the flaw in this argument the last time you made it... almost a whole page ago.

If inflation increases the price of everything by 25%, guess what goes up 25%?  The price of your next car. Your grocery bill. Your wages. And corporate profits.

Nobody's any richer. Nobody's able to buy more than they could before. The numbers are just larger.

While Brandon isn't the sole cause of inflation, the reason people are blaming him is because he's been a big contributor, and he's the reason why it's spiking right now.

Now it's true that inflation is a lot more complex than that. It's not a rising tide that lifts all boats equally. A price in one thing may rise much faster than other things. Consumer prices often go up first. Wages often take some time to react. People with fixed costs or inflation-adjusted income are protected, at least for a while. And it affects different sectors of the economy differently; there is a good argument that there's been a lot of inflation already in areas like real estate and the stock market (i.e. production). But that would require a real discussion, which is far beyond someone who trades in these little economic idiocies.
« Last Edit: June 15, 2022, 09:39:23 PM by Pat »

Daztur

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Re: Biden's Cascade of Failure!
« Reply #274 on: June 15, 2022, 10:19:45 PM »

https://live.staticflickr.com/65535/52149642491_fb7953f2cf_k.jpg
I literally pointed out the flaw in this argument the last time you made it... almost a whole page ago.

If inflation increases the price of everything by 25%, guess what goes up 25%?  The price of your next car. Your grocery bill. Your wages. And corporate profits.

Nobody's any richer. Nobody's able to buy more than they could before. The numbers are just larger.

While Brandon isn't the sole cause of inflation, the reason people are blaming him is because he's been a big contributor, and he's the reason why it's spiking right now.

Now it's true that inflation is a lot more complex than that. It's not a rising tide that lifts all boats equally. A price in one thing may rise much faster than other things. Consumer prices often go up first. Wages often take some time to react. People with fixed costs or inflation-adjusted income are protected, at least for a while. And it affects different sectors of the economy differently; there is a good argument that there's been a lot of inflation already in areas like real estate and the stock market (i.e. production). But that would require a real discussion, which is far beyond someone who trades in these little economic idiocies.

The liberal tendency to attribute systemic problems to individual moral failings ("corporate greed!") etc. can get very strange at times.

Still, inflation making all numbers larger does change some things. My mortgage for example. Having it decline in real terms due to inflation is nice.
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Pat

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Re: Biden's Cascade of Failure!
« Reply #275 on: June 15, 2022, 10:53:48 PM »
Now it's true that inflation is a lot more complex than that. It's not a rising tide that lifts all boats equally. A price in one thing may rise much faster than other things. Consumer prices often go up first. Wages often take some time to react. People with fixed costs or inflation-adjusted income are protected, at least for a while. And it affects different sectors of the economy differently; there is a good argument that there's been a lot of inflation already in areas like real estate and the stock market (i.e. production). But that would require a real discussion, which is far beyond someone who trades in these little economic idiocies.

The liberal tendency to attribute systemic problems to individual moral failings ("corporate greed!") etc. can get very strange at times.

Still, inflation making all numbers larger does change some things. My mortgage for example. Having it decline in real terms due to inflation is nice.
Yes, that's an example of the fixed cost I mentioned in the last paragraph.

In general, debt will diminish. But so will real wealth. Your mortgage may become more payable, but your savings will be worth less.

This favoring of debt is how the inflation-apologists try to claim it helps the poor, but that's a baldfaced lie. It's the people with most of their money in assets that grow faster than inflation, like real estate and stocks, that benefit the most. And that's the rich. Even your mortgage is an example of how inflation helps the well-off, because the people with mortgages tend have more money than the people who rent, and except for the tiny percentage of people who live in one of those rent-controlled apartments, rents aren't fixed.

So however much inflation hurts, remember to feel smug and satisfied that the people who are really getting hurt are those dirty proletariats. This is another of the Democrats' favorite taxes, a tax on the poor.

3catcircus

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Re: Biden's Cascade of Failure!
« Reply #276 on: June 15, 2022, 10:54:13 PM »

https://live.staticflickr.com/65535/52149642491_fb7953f2cf_k.jpg
I literally pointed out the flaw in this argument the last time you made it... almost a whole page ago.

If inflation increases the price of everything by 25%, guess what goes up 25%?  The price of your next car. Your grocery bill. Your wages. And corporate profits.

Nobody's any richer. Nobody's able to buy more than they could before. The numbers are just larger.

While Brandon isn't the sole cause of inflation, the reason people are blaming him is because he's been a big contributor, and he's the reason why it's spiking right now.

Now it's true that inflation is a lot more complex than that. It's not a rising tide that lifts all boats equally. A price in one thing may rise much faster than other things. Consumer prices often go up first. Wages often take some time to react. People with fixed costs or inflation-adjusted income are protected, at least for a while. And it affects different sectors of the economy differently; there is a good argument that there's been a lot of inflation already in areas like real estate and the stock market (i.e. production). But that would require a real discussion, which is far beyond someone who trades in these little economic idiocies.

It's not that people can't buy any more than they could with lower inflation - it's that they can't buy the same amount as before, in most cases, less.

A tank of gas cost me $45 under Trump.  Under the current shitstain, it costs me double that. It's not that gas is scarcer or that more people want it. It's that the morons occupying the government actively went out of their way to make it harder to obtain the raw material or use the raw material. They shut down the Keystone XL pipeline. They have regulations that make it impossible to build new refineries. They arm Ukraine which guarantees that we'd never be able to buy oil from Russia if we needed to. Then they *demand* that refiners increase production.

Food is just as bad - can anyone explain how 18 food processing plants all burn down within a 6 month period?

And now it's the Diesel Exhaust Fluid shortage coming up that will prevent trucks from moving food and fuel and prevent farm equipment from harvesting.  DEF is 2/3 Urea and 1/3 water. Russia was the largest exporter of urea. Not no mo'. Flying J is a chain of truck stops that gets 70% of their DEF from Union Pacific railcars (whose rail lines have exclusive access to the plants that turn urea into DEF). They've been told to cut orders by 50% or they won't fill any orders at all. That's 15% of all the DEF used in the US. Blackrock is the majority shareholder of Union Pacific, as well as the largest shareholder of CF Industries who is the largest producer of urea in the US. Blackrock's chairman is Tom Donilon, Obama's former national security advisor.  Donilon's brother is a senior advisor to Biden and his wife is WH Personnel Director. His daughter is on Biden's national security council.

Go ahead, tell me it's all just coincidence and then tell me how inflation isn't artificially influenced by this disaster of a President.

Pat

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Re: Biden's Cascade of Failure!
« Reply #277 on: June 15, 2022, 11:23:05 PM »
A tank of gas cost me $45 under Trump.  Under the current shitstain, it costs me double that. It's not that gas is scarcer or that more people want it. It's that the morons occupying the government actively went out of their way to make it harder to obtain the raw material or use the raw material. They shut down the Keystone XL pipeline. They have regulations that make it impossible to build new refineries. They arm Ukraine which guarantees that we'd never be able to buy oil from Russia if we needed to. Then they *demand* that refiners increase production.
That's sometimes called inflation, but it's useful to distinguish between that and monetary inflation. The rise in oil prices is really just a rise in the price of a particular commodity. It can have broad systemic effects, because every industry that needs to move things around or use energy will have to factor in the rise in the price of a barrel into their own prices. But monetary inflation is even more fundamental, because money isn't just a widely used commodity. It's the medium of exchange and the unit of record used to tally up all prices, so it affects literally everything in the economy.

We're seeing both. The money the banks have been keeping in their reserve accounts at the Fed (that's where most of the QE money went) is seeping out into the wider economy, causing a general rise in prices. And the fantastic array of supply chain fuck ups caused by the government, from the stacking height of containers in LA, to the pipeline bans, to the rescinded permits, to the staggering fallout of the pandemic shutdowns and paying people not to work, have led to rises in prices of relatively isolated products, like baby formula and eggs, as well as fundamental high order goods like energy and transportation.

It's a perfect storm of meddling and... I want to say incompetence, but that implies the default is competence. So call it a perfect storm of the normal effects of widespread government interference.
« Last Edit: June 16, 2022, 08:58:42 AM by Pat »

oggsmash

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Re: Biden's Cascade of Failure!
« Reply #278 on: June 16, 2022, 06:10:35 AM »
  My bad...you still posted it.  Ah well.  All those corporations are led by lefties.  Think about that for a while.
All those corporations are politically shifty and go whatever way makes the more money. That used to be to the right, but now it's often more profitable to swing left. That's not saying they gave two shits about either side--its all just business to them.

  If this were 10 years ago I might agree, since most these days seem to share the largest shareholders, I think the ESG score thing demonstrates message matters first.  Profits matter less when a sugar daddy is willing to absorb your losses to push out a message.

Ghostmaker

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Re: Biden's Cascade of Failure!
« Reply #279 on: June 16, 2022, 08:57:19 AM »
I really believe that 'necessity' be allowed in court. If you must drive a diesel and cannot get this fluid, then it's not s crime to commit an act of necessity. If the law does not recognize necessity, it is incompetent to judge people.

Of course wingnuts will claim murdering an abortion performing doctor was necessary, burning a church of Satan was necessary, etc. Rightards fuck everything up. It would have to be handled case by case, but hopefully a jury of real people (not judges or lawyers)  would recognize real necessity.

Oh,  this is a good cartoon about people who hate 'brandon'

https://live.staticflickr.com/65535/52149642491_fb7953f2cf_k.jpg
*laughs in Rittenhouse*

Man, if necessity was allowable, we wouldn't even HAVE the arguments about self defense and the Second Amendment.

3catcircus

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Re: Biden's Cascade of Failure!
« Reply #280 on: June 16, 2022, 01:19:30 PM »
A tank of gas cost me $45 under Trump.  Under the current shitstain, it costs me double that. It's not that gas is scarcer or that more people want it. It's that the morons occupying the government actively went out of their way to make it harder to obtain the raw material or use the raw material. They shut down the Keystone XL pipeline. They have regulations that make it impossible to build new refineries. They arm Ukraine which guarantees that we'd never be able to buy oil from Russia if we needed to. Then they *demand* that refiners increase production.
That's sometimes called inflation, but it's useful to distinguish between that and monetary inflation. The rise in oil prices is really just a rise in the price of a particular commodity. It can have broad systemic effects, because every industry that needs to move things around or use energy will have to factor in the rise in the price of a barrel into their own prices. But monetary inflation is even more fundamental, because money isn't just a widely used commodity. It's the medium of exchange and the unit of record used to tally up all prices, so it affects literally everything in the economy.

We're seeing both. The money the banks have been keeping in their reserve accounts at the Fed (that's where most of the QE money went) is seeping out into the wider economy, causing a general rise in prices. And the fantastic array of supply chain fuck ups caused by the government, from the stacking height of containers in LA, to the pipeline bans, to the rescinded permits, to the staggering fallout of the pandemic shutdowns and paying people not to work, have led to rises in prices of relatively isolated products, like baby formula and eggs, as well as fundamental high order goods like energy and transportation.

It's a perfect storm of meddling and... I want to say incompetence, but that implies the default is competence. So call it a perfect storm of the normal effects of widespread government interference.

This is all nicely pedantic academic bloviating.  It doesn't change the basic equation for the average citizen.  Before FJB, let's say your take home pay was $1000 a week. Let's say you manage to save $50 a week in a rainy day fund. Yes, your $1,000/month mortgage stays the same, but when your fuel for your car costs double, it also means that fuel to run the trucks that deliver your food costs more; the fuel your electricity provider burns for it's fleet of utility service trucks goes up. The fuel that's it's railcars burn to bring coal to the power plant goes up.  They most surely pass that added cost on to the end consumer, which means your utilities bill also goes up, as does your grocery bill.

It's *all* tied together.  It doesn't matter if it is monetary inflation or if it is increased cost due to supply shrinkage of necessities where demand won't go down in response to increased costs - your $1,000 paycheck each week now gets you *less* than it did under Trump *and* you're not only not putting that$50 into your rainy day fund, you're dipping into it to make ends meet.

The elites don't care all that much because they've funded their lavish lifestyles by taking loans against the future value of their asset portfolio and they did so prior to inflation, so their whole lifestyle is essentially tied to the equivalent of a mortgage with an interest rate much lower than the current rate of inflation.
« Last Edit: June 16, 2022, 01:21:53 PM by 3catcircus »

Pat

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Re: Biden's Cascade of Failure!
« Reply #281 on: June 16, 2022, 01:32:34 PM »
A tank of gas cost me $45 under Trump.  Under the current shitstain, it costs me double that. It's not that gas is scarcer or that more people want it. It's that the morons occupying the government actively went out of their way to make it harder to obtain the raw material or use the raw material. They shut down the Keystone XL pipeline. They have regulations that make it impossible to build new refineries. They arm Ukraine which guarantees that we'd never be able to buy oil from Russia if we needed to. Then they *demand* that refiners increase production.
That's sometimes called inflation, but it's useful to distinguish between that and monetary inflation. The rise in oil prices is really just a rise in the price of a particular commodity. It can have broad systemic effects, because every industry that needs to move things around or use energy will have to factor in the rise in the price of a barrel into their own prices. But monetary inflation is even more fundamental, because money isn't just a widely used commodity. It's the medium of exchange and the unit of record used to tally up all prices, so it affects literally everything in the economy.

We're seeing both. The money the banks have been keeping in their reserve accounts at the Fed (that's where most of the QE money went) is seeping out into the wider economy, causing a general rise in prices. And the fantastic array of supply chain fuck ups caused by the government, from the stacking height of containers in LA, to the pipeline bans, to the rescinded permits, to the staggering fallout of the pandemic shutdowns and paying people not to work, have led to rises in prices of relatively isolated products, like baby formula and eggs, as well as fundamental high order goods like energy and transportation.

It's a perfect storm of meddling and... I want to say incompetence, but that implies the default is competence. So call it a perfect storm of the normal effects of widespread government interference.

This is all nicely pedantic academic bloviating.  It doesn't change the basic equation for the average citizen.  Before FJB, let's say your take home pay was $1000 a week. Let's say you manage to save $50 a week in a rainy day fund. Yes, your $1,000/month mortgage stays the same, but when your fuel for your car costs double, it also means that fuel to run the trucks that deliver your food costs more; the fuel your electricity provider burns for it's fleet of utility service trucks goes up. The fuel that's it's railcars burn to bring coal to the power plant goes up.  They most surely pass that added cost on to the end consumer, which means your utilities bill also goes up, as does your grocery bill.

It's *all* tied together.  It doesn't matter if it is monetary inflation or if it is increased cost due to supply shrinkage of necessities where demand won't go down in response to increased costs - your $1,000 paycheck each week now gets you *less* than it did under Trump *and* you're not only not putting that$50 into your rainy day fund, you're dipping into it to make ends meet.

The elites don't care all that much because they've funded their lavish lifestyles by taking loans against the future value of their asset portfolio and they did so prior to inflation, so their whole lifestyle is essentially tied to the equivalent of a mortgage with an interest rate much lower than the current rate of inflation.
In the post you quoted, I pointed out that the different types of inflation are combining into a perfect storm, and I specifically called out how oil prices affect both transportation and energy costs, and how that in turn affects the prices of everything that uses those services. And in a previous post just up the page, I made the very point that inflation is a tax on the poor, using very strong words. So you're literally repeating my points back at me, but being an asshole about it.

3catcircus

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Re: Biden's Cascade of Failure!
« Reply #282 on: June 16, 2022, 08:11:04 PM »
A tank of gas cost me $45 under Trump.  Under the current shitstain, it costs me double that. It's not that gas is scarcer or that more people want it. It's that the morons occupying the government actively went out of their way to make it harder to obtain the raw material or use the raw material. They shut down the Keystone XL pipeline. They have regulations that make it impossible to build new refineries. They arm Ukraine which guarantees that we'd never be able to buy oil from Russia if we needed to. Then they *demand* that refiners increase production.
That's sometimes called inflation, but it's useful to distinguish between that and monetary inflation. The rise in oil prices is really just a rise in the price of a particular commodity. It can have broad systemic effects, because every industry that needs to move things around or use energy will have to factor in the rise in the price of a barrel into their own prices. But monetary inflation is even more fundamental, because money isn't just a widely used commodity. It's the medium of exchange and the unit of record used to tally up all prices, so it affects literally everything in the economy.

We're seeing both. The money the banks have been keeping in their reserve accounts at the Fed (that's where most of the QE money went) is seeping out into the wider economy, causing a general rise in prices. And the fantastic array of supply chain fuck ups caused by the government, from the stacking height of containers in LA, to the pipeline bans, to the rescinded permits, to the staggering fallout of the pandemic shutdowns and paying people not to work, have led to rises in prices of relatively isolated products, like baby formula and eggs, as well as fundamental high order goods like energy and transportation.

It's a perfect storm of meddling and... I want to say incompetence, but that implies the default is competence. So call it a perfect storm of the normal effects of widespread government interference.

This is all nicely pedantic academic bloviating.  It doesn't change the basic equation for the average citizen.  Before FJB, let's say your take home pay was $1000 a week. Let's say you manage to save $50 a week in a rainy day fund. Yes, your $1,000/month mortgage stays the same, but when your fuel for your car costs double, it also means that fuel to run the trucks that deliver your food costs more; the fuel your electricity provider burns for it's fleet of utility service trucks goes up. The fuel that's it's railcars burn to bring coal to the power plant goes up.  They most surely pass that added cost on to the end consumer, which means your utilities bill also goes up, as does your grocery bill.

It's *all* tied together.  It doesn't matter if it is monetary inflation or if it is increased cost due to supply shrinkage of necessities where demand won't go down in response to increased costs - your $1,000 paycheck each week now gets you *less* than it did under Trump *and* you're not only not putting that$50 into your rainy day fund, you're dipping into it to make ends meet.

The elites don't care all that much because they've funded their lavish lifestyles by taking loans against the future value of their asset portfolio and they did so prior to inflation, so their whole lifestyle is essentially tied to the equivalent of a mortgage with an interest rate much lower than the current rate of inflation.
In the post you quoted, I pointed out that the different types of inflation are combining into a perfect storm, and I specifically called out how oil prices affect both transportation and energy costs, and how that in turn affects the prices of everything that uses those services. And in a previous post just up the page, I made the very point that inflation is a tax on the poor, using very strong words. So you're literally repeating my points back at me, but being an asshole about it.

Sorry about that - not my intent.  Rather, I was attempting to bring the conversation down to a level that even a mouth-breather could understand.

Pat

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Re: Biden's Cascade of Failure!
« Reply #283 on: June 16, 2022, 11:08:14 PM »
Sorry about that - not my intent.  Rather, I was attempting to bring the conversation down to a level that even a mouth-breather could understand.
Appreciate it.

I think it's a valiant goal, because we desperately need a wider economic education. If we had politicians saying 2+2 = 5, or that evolution causes animals to go to sleep and wake up as a new species, most people know enough that they'd just look at them weirdly. But when it comes to economics, the wider public lacks that basic foundation, which lets politicians get away with making absurd claims or scapegoating, like blaming Russia for inflation (in the 1970s, they were blaming the unions) not the massive money printing and handouts, or that it was the pandemic not the lockdowns that caused all the damage to the economy.

FelixGamingX1

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Re: Biden's Cascade of Failure!
« Reply #284 on: June 17, 2022, 01:27:43 AM »
Gotta eat more beans, you guys.
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