Inflation and a recession are now here :(
- Thread starter lawpoke87
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We are always dependent on global market prices. Exxon and etcetera is never going to sell it to the US market at bottom dollar prices when Europe is paying thru the roof prices for oil because of Russia & Ukraine. Just because it's an American company drilling it here, doesn't dictate the price. You are so dense.
Welcome to the party. Wall Street took ten years to recover from the late seventies. Main Street took almost twenty. If you are fifty, retirement is probably an open question for most people now, if you are the 2% or below.
Here’s an interesting article that touches on why inflation kills Wall Street. The party is over for millennials and they did it to themselves.
https://www.theatlantic.com/newslet...uber-ride-share-prices-high-inflation/661250/
https://www.theatlantic.com/newslet...uber-ride-share-prices-high-inflation/661250/
Party? What Party? Millennials have been hit by ’generational‘ wealth events multiple times in their formative years.
By the way. I think I have only ever used a single one of the services they mentioned and it was an Uber hailed by a friend when we were all drunk at a Bachelor Party.
Those things in that article aren’t quite as ubiquitous to the Younger generations as you have been led to believe.
I read it. The assertion still stands. If they’re just talking about the low borrowing rate… then it’s not just a ‘millennial’ problem.
BTW… US Crude Exports are at an all time high despite record prices at home. Can you guess where they’re all going?
inflation, high gas prices, mandates, marxism, censorship, kangaoo courts, political percacution,
Help me out here. The Fed is taking extraordinary steps to reduce the money supply in its effort to subdue inflation. Now the Admin is planning on increasing that same money supply by paying for peoples gasoline ? Basically throwing gasoline on inflation.
BTW there is such a thing as a business cycle, and we are going through another one. There's a general pattern but the specifics of each down turn can be very different. Because of Covid and Trump, there has been a massive increases to money supply which will likely give this down its own characteristics. Presidential tools have a limited ability to alter things in the short term, particularly when events like the Ukraine invasion and supply disruptions are also going on.
As far as the stock market goes, this article is worth a read.
As far as the stock market goes, this article is worth a read.
The overlapping priorities and competing interests within the executive branch will never make any sense. Often it’s just the construct of the staff. The Domestic Council wants a stimulus. That makes them look good. The Council of Economic Advisors/Fed folks want to control inflation. That makes them look good.
You stop that with an effective set of deputies in the chief of staff’s office who report regularly to the chief for deconfliction.
Unless of course this is intentional for polling purposes only.
A good example of that was when Obama asked for $40 million to promote voter ID abroad but spent tens of millions fighting it as racist here in this country. Eventually it was deconflicted internally.
The Energy department gives out so many grants for research through so many different channels they have no idea how much they give out. No single unitary document that spells that out. Then people wonder why they fund experiments to both increase and decrease domestic oil production.
You also have conflicting interests in programs that have already been funded and programs that are newly funded when a new admin comes in. It's not government ineptness. It's the whipsaw effect of administrations that changed 3 times in a little over 4 years. Also an energy market that saw record demand followed by an oversupply and Covid.
I wonder if anyone has looked at the inflationary effects of the wealth transfer associated with Covid deaths? That's a significant amount of money being put into people's pockets that is in excess of what we would normally see in a normal year. I'm guessing that it has translated to unanticipated spending as well.
Probably less of an effect then we would first believe. Poor people were 5x more likely to die of Covid than the rich. There was certainly more of a transfer of wealth to the deceased heirs but with a vast majority of the dead being poor the transfers were limited.
The study
The income gradient in COVID-19 mortality and hospitalisation: An observational study with social security administrative records in Mexico
Our results imply that the association between income and COVID outcomes is not explained by the prevalence of comorbidities or by a lack of access to healthcare among the low-income population.
www.thelancet.com
That's not what I mean. If 100 people die that were poor and one person dies that was uber rich, then a wealth transfer that had a higher average than the mean happened. I'm not arguing that poor people didn't die at higher rates. I'm arguing that the rate at which medium income and high income died was likely at a high enough rate that it influenced the economy.The study
The income gradient in COVID-19 mortality and hospitalisation: An observational study with social security administrative records in Mexico
Our results imply that the association between income and COVID outcomes is not explained by the prevalence of comorbidities or by a lack of access to healthcare among the low-income population.www.thelancet.com
I would like to see a study as well. Most Uber rich people have their wealth vested in Trusts. Those trusts typically don’t distribute all of those assets at death to individual beneficiaries. I’m sure there were some immediate distributions just not near the amount one would at first think.
What are you even talking about? This was a comment on inflation. Had nothing to do with taxes.
Was speaking to my Aunt, who with my uncle are a small producer of cattle. They aren't depending on it for the bulk of their income, thank god. She said she is severely worried about the cost of feed ending them as a small cattle producer. They do it for the love of it, but that can't keep them above water and losing money. I asked her if the price of cattle helped at all to cover some of the lost costs on feed.
These were her words:
No increase in cattle at the market because if the farmer can't feed them with higher feed cost ... they don't want to work 7 days a week and go in the hole! So, when everyone is dumping their cow calf operations and not saving replacement heifers; you flood the markets with supply but you have higher cost getting it to the grocery stores . Prices go up... then there's going to be a real demand when you've killed off all the farmers and ranchers! And you get BillGstes suede petre dish pink slime "What's for dinner"!
These were her words:
No increase in cattle at the market because if the farmer can't feed them with higher feed cost ... they don't want to work 7 days a week and go in the hole! So, when everyone is dumping their cow calf operations and not saving replacement heifers; you flood the markets with supply but you have higher cost getting it to the grocery stores . Prices go up... then there's going to be a real demand when you've killed off all the farmers and ranchers! And you get BillGstes suede petre dish pink slime "What's for dinner"!
In this case it’s capitalism being dictated by government actions. Unfortunately.
Bill Gates controls more privately held farming land than anyone else in the world.
Yeah, I know he's got his thumb on the accelerator & brakes of the whole thing. His charitable efforts don't stop him from making decisions to protect his wealth. The small rancher/farmer are only one of those who will pay for that.
There are valid reasons for some of what he is doing, but too many reasons are for protecting wealth.
No suprise there....
The 3 Richest Americans Hold More Wealth Than Bottom 50% Of The Country, Study Finds
Collectively, the billionaires on the Forbes 400 hold more wealth than the bottom 64% of America, "more people than the populations of Mexico and Canada combined."
www.forbes.com
Yeah global govt induced supply chain disruptions is not “capitalism at work.” Closer to “central planning at work.”
All Capitalism is dictated by government actions in some way or another.
No, it's simply things the government decides to pursue or not pursue. That's before you even start talking about regulation. If the government decides to build a new Humvee replacement for example, someone in the auto industry will make a ton of money.
If the government's interest lies in supporting European allies who's best course of action is weaning themselves off of oil, then the Capitalist market will be effected. It's not regulation, it's the interdependence of global economic markets with global politics.
Neither of the things I listed have much if anything to do with corruption unless they are done in a shady manner. They are natural effects of government function. (Even Capitalist Governments)
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