Inflation hits new 40 year high
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Food prices continue to soar, with little hope in sight. Those with fixed income, or lower to mid range wage earners are feeling the crunch the most. The price expected jump from 2022 to 2023 ....... 10% - 15%!!! 
www.cnn.com
Grocery store prices aren't coming down anytime soon | CNN
Some sobering news for US shoppers: There's little relief in sight on grocery store bills.
www.cnn.com
Non-wage earners such as the homeless walk into stores, pick up what they need, then walk out. Homeless people are above the law, just like democrats!Food prices continue to soar, with little hope in sight. Those with fixed income, or lower to mid range wage earners are feeling the crunch the most. The price expected jump from 2022 to 2023 ....... 10% - 15%!!!
Grocery store prices aren't coming down anytime soon | CNN
Some sobering news for US shoppers: There's little relief in sight on grocery store bills.
Republicans, the feckless ones, have to realize that when democrats control the House then shutting down the government to keep them from spending recklessly is a good thing. They could have put so many things in that senate bill to curb the border crisis, get a full cessation of all jab mandates, beef up law enforcement, and many other things the People want...buttttttttt, they shrank like delicate violets the moment democrats started bellyaching. These weakling Republicans have to go. They're so sickening.
Trump nominee Powell overwhelmingly confirmed as Fed chair
Powell joined the Fed board in 2012 as an Obama appointee.
www.politico.com
Why politicized the point… TRUMP appointed him.Trump nominee Powell overwhelmingly confirmed as Fed chair
Powell joined the Fed board in 2012 as an Obama appointee.
What??? Trump can‘t and hasn’t made a mistake???
Powell is a complete failure… (regardless, of who appointed him)
because, he implement liberal “jack a s s” economic policy.
Destroy it, then “reset” it. Everything they do and say points in that direction.
By some estimates, of the $873 billion spent for covid benefits, $187 billion was allocated to fraud. Repubs are trying to ferret out this fraud, but Dems refuse to investigate.
I bet that $187 billion got spent instantly. It wasn’t put in a savings account or used to buy index funds. I bet some crypto got bought with it.
Inflation is always a monetary problem. Always.
I bet that $187 billion got spent instantly. It wasn’t put in a savings account or used to buy index funds. I bet some crypto got bought with it.
Inflation is always a monetary problem. Always.
You do understand that seven board of governors vote on theses jackass economic policies and Trump appointed 5 of the current voting governors.
If you read the story of the John Taylor, Kevin Warsh, and Jay Powell selection process to run the Fed, you might get a better understanding as to the political make-up of the governors. Trump wanted doves and that’s who he appointed.
What I find funny is people who believe that Reagan was the end all, be all economic leader are the most critical of the current Fed adopting the exact same policies as Reagan/Volcker.
When you write about Trump, you always refer to his first three years. Why? He did nothing during 2020, except label Covid a virus that will disappear in April and order the states to find their own solutions. Against that backdrop, the Fed had to preserve global liquidity of markets, preserve the integrity of the financial system, and manage open Market operations in a shrinking Economy. Since we seem to be the only economy that thrived coming out of the pandemic, where did Powell et al fail?
Today, the globe is operating under diminished purchasing power, resulting from supply issues associated with the pandemic, war, and climate change. Outside of the current open market operations being implemented in concert by central banks, what policies would you change? Be specific.
“Inflation is always a monetary issue.” Milton Friedman.
The horse has left the barn, so there are only 2 tools available, massively reduce federal spending, and raise interest rates to cool the economy.
Trim the $140 billion food stamp program.
Make students pay off their loans.
Drill for more oil, renewables cannot run an industrial economy, EVER.
Disband public sector unions.
Recapture the near $200 billion lost to covid fraud.
Go to a flat tax.
This would be a start.
Moon: you are misquoting Friedman. He wrote that inflation is a monetary phenomenon.
Instead of butchering Friedman’s quote and taking it out of context, it would be helpful if you put the full quote in context of Friedman’s theory of the money supply.
Friedman was a constant critic of the Fed’s mandate, believing that by maintaining a constant increase of M2 equal to the annual growth of the real GDP, price levels would remain relatively unchanged. In his seminal work “studies in the quantity theory of money,” he argued that the growth of M2 increases prices, but has little effect on output. By maintaining a constant increase in M2 you could manage inflation beyond what is necessary to avoid deflation.
First, it would be helpful if you realized that the Fed’s mandate is symmetrical. The goal isn’t 2% inflation as a floor and ceiling, it is monetary policy that moves inflation towards 2% on a continuous basis.
If the government engages in a massive federal spending reduction program, rural America vanishes as we know it. 24.8 million rural families receive tax credits totaling $50.7b. Is this the governments spending that you want to cut; or just food stamps?
Unless you want to cut mandatory spending, you are going to discover that most program cuts will add to the US poverty levels primarily in rural red states.
Drilling for more oil has zero impact on gasoline prices or oil prices. Oil prices are controlled by an oligopoly and refining capabilities. The last significant new refinery went online in 1977. Maybe, you should figure out why nobody has built significant refining capabilities for 50 years?
you just proved that you know nothing about economics, money, banking, or taxes
His quote and I got it right, along with the cure. I wish you were smarter, but you aren’t. Did you graduate from high school? An accredited actual high school? Your use of the English language is borderline infantile. Is there a remedial learning center near you? Make use of it, for your own good sake. Please.
“What do you know about inflation? Milton Friedman famously said: “Inflation is always and everywhere a monetary phenomenon, in the sense that it is and can be produced only by a more rapid increase in the quantity of money than in output.” Of course, we all know the driver of the quantity of money is government spending priorities, and recently the government has been spending a lot. So what does that mean for the American people? On this episode, we talk about the basics of inflation, what it means for your pocket book, your gas tank, and your grocery bill. This episode shows what happens when too many dollars chase too few goods.”
First, you misquote a Monetarist; and then, your cure is straight out of the Keynesian handbook. If cutting government spending and/or raising taxes (fiscal policies) is the solution, why did it fail to slow inflation in 1968, when Johnson did both?
Go back to your “cure” list and erase it. Then, wait until you finish all of the episodes of whichever Friedman video that you are watching, and write something that begins with using monetary policy to control the growth of the money supply (fill-in the rest).
Don’t listen to Gary B’s warped economic perspective, it’s a crock.
3rd Slide: I find it funny that you guys believe Friedman adopted your party’s viewpoint, when in fact, it is your party that took shiny objects from Friedman.
Friedman is a die hard globalist, as are most Monetarists. Friedman believed in a floating currency, which comes into direct conflict with your Trumpian view of Nationalism, protectionism, and balance of trade.
Friedman wrote a book about the nominal stock of money versus the real demand determining the price. You guys have distilled his scientific study down to one quote (shiny object); and then, you attack anyone who disagrees with your laughable conclusions.
Historians are going to write that between 2008 - 2021 the nominal stock of money increased exponentially, at the same time that the world adopted Nationalism, engaged in a global trade war, experienced pandemics, and supply shocks. The result was a global central bank effort to reduce the growth of M2 via open market operations. End of story pending…
We went through a very extended period where many jobs were outsourced to foreign countries and including almost all manufacturing. At the same time most private unions were ended and we increased immigration and we refused to raise the minimum wage. Wages were stagnant for a very long time. Those days are way behind us now. Really do not think we will ever see 2% inflation again. Will a young person making $18 an hour keep his job over a .36 cent raise after one year. Not anymore. Too many better opportunities out there now.
I heard a lot of people calling for the market to set wages. Well you got it now.
I heard a lot of people calling for the market to set wages. Well you got it now.
Blah, blah, blah. You use so many words to say nothing.
The market isn’t setting wages, big government is setting wages. A family of four can collect nearly $45K in welfare.
Housing market getting killed. Sellers taking their properties off the market. Modest $500,000 house with $100,000 down payment has monthly mortgage OVER $3,000/month. Just fu*cking WOW! Stupid biden regime has priced out the average American from buying a house. Even 60% of households with six-digit incomes in the $200,000 range are living paycheck to paycheck! Holy crap
Democrats and biden voters chose poorly. In fact, because of biden they are poorer today than two years ago under the Trump Administration's robust economy where even people with only a high school education were flourishing.
Democrats and biden voters chose poorly. In fact, because of biden they are poorer today than two years ago under the Trump Administration's robust economy where even people with only a high school education were flourishing.
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But Powell thinks housing is the major cause of inflation. So rates keep going up.Housing market getting killed. Sellers taking their properties off the market. Modest $500,000 house with $100,000 down payment has monthly mortgage OVER $3,000/month. Just fu*cking WOW! Stupid biden regime has priced out the average American from buying a house. Even 60% of households with six-digit incomes in the $200,000 range are living paycheck to paycheck! Holy crap
Democrats and biden voters chose poorly. In fact, because of biden they are poorer today than two years ago under the Trump Administration's robust economy where even people with only a high school education were flourishing.
The Fed employs the PCE, which measures rents less owner expenses in its calculations. Home prices are not evaluated in the Fed’s model.
There are components of housing, such as raw materials, cost of financing, and insurance that are measured by the Fed and have been the source of conflict in setting the funds rate; but QE/QT is more correlated to home prices.
It should be obvious to everyone that when government engages in tariffs to protect domestic production of raw materials and regulates the reinsurance markets to off-load risks that the Fed’s actions are magnified. Trump’s decision to impose a 25% tariff on housing material and push FEMA into off-loading flood risks to the capital markets has consequences for the housing markets.
As you go on and on about the Fed’s action(s), you are totally ignoring the markets. The Fed sets the largely symbolic funds rate, which like the discount window is largely ignore in modern banking transactions. Right now, the markets are selling the short-end of the curve (2yr paper), buying the long end of the curve (10yr paper) and increasing the spreads in the swap market. The end result is central banks are easing at the long end of the curve.
You need to stop ripping the Fed and watch what they are doing. Trump and Powell fought tooth and nail over bad fiscal policy. The next shoe to drop is the flood insurance challenge, as the flood maps get re-drawn and FEMA provided insurance becomes mandatory to get loan funding. It is a crisis for the home industry in the making.
The general thinking now is all they are looking at is unemployment and until it turns negative they will keep raising rates, thus the huge market today when it was noted open jobs were decreasing. As for Trump, yes he did a lot of stupid things to contribute to inflation, massive unfunded spending, tarriffs, attack on china manufacturing, limits on immigration, over funding stimulus, but of course Biden gets the blame. But the republican party is such a mess now, they still cant win elections.
GaryB? Is that you?
Why, why yes, it is I. Come, come join me down the rabbit hole...
Good choice! The Alice satire was based on Carroll’s Elementary Treatise on Determinants. The inversions and mirror images in the fictional book come directly from Carroll’s “the sum of of the products of a square block of quantities.”
As with economics, you have no clue…
Puerto Rican jose creates backwards economy and puts his pants on backwards. What's to worry about...good god I hope this is a deep fake or something.
I hope this is a deep fake or something.
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Welp, our buddies at OPEC are cutting oil production by 2 million barrels per day. Old Yeller joe's decision to kill America's energy industry has revived the nuisance that is OPEC. How humiliating for old joe that he went begging the House of Saudi for oil and got rejected. Meanwhile, because of less oil and gas on the market Bangladesh's energy grid crashed and out went the lights into darkness. Have you seen enough of green energy policies? Good, then you cannot vote democrat. Face it, TDS sufferers, President Trump did a superior job running the country. Take out the fake news factor propaganda and Trump hysteria hair-on-fire absurdities and The Donald's likeness with a MAGA letters chain around his neck would be carved onto Mt. Rushmore
Remember invasion month last month? Here's some details.
https://thegrayzone.com/2022/10/05/azov-neo-nazi-ukrainian-congress/
"Since news broke of Azov’s US tour, more information has come to light about the ultra-nationalist organization’s outreach in the country, including efforts by Azov to reverse Congress’ ban on supplying it with arms and training."
https://thegrayzone.com/2022/10/05/azov-neo-nazi-ukrainian-congress/
"Since news broke of Azov’s US tour, more information has come to light about the ultra-nationalist organization’s outreach in the country, including efforts by Azov to reverse Congress’ ban on supplying it with arms and training."
This is bad, and it’s on Biden. He’s done everything he can to destroy the US energy industry, and turned the influence that the US used to have in the world over to OPEC. Now we are once again under their thumb. Biden’s media will downplay it though. And Biden has now turned to American oil companies to try to help him, who just a short while ago he was openly hostile towards and was denying them permits.Welp, our buddies at OPEC are cutting oil production by 2 million barrels per day. Old Yeller joe's decision to kill America's energy industry has revived the nuisance that is OPEC. How humiliating for old joe that he went begging the House of Saudi for oil and got rejected. Meanwhile, because of less oil and gas on the market Bangladesh's energy grid crashed and out went the lights into darkness. Have you seen enough of green energy policies? Good, then you cannot vote democrat. Face it, TDS sufferers, President Trump did a superior job running the country. Take out the fake news factor propaganda and Trump hysteria hair-on-fire absurdities and The Donald's likeness with a MAGA letters chain around his neck would be carved onto Mt. Rushmore
Also, In an effort to reduce the impact on the upcoming midterms, Biden has now released ANOTHER 10 million barrels from the Strategic Reserve, despite already releasing 180 million barrels, bringing it to its lowest level in 40 years.
The Strategic Petroleum Reserve is necessary so that we can weather crude supply emergencies, such as those created by natural disasters, and to fuel our armed forces should we have to fight a war. It is NOT there to feed a very short term effect on oil prices before an election in an effort to get Biden’s cronies re-elected.
Biden is using the reserve to artificially manipulate the market. People who have done that have gone to prison.
OCTOBER 6, 2022
THE FAILED BIDEN ECONOMY STILL SUUUUUUUCKS!
AMERICANS ARE STILL SUFFERING FROM HIGH INFLATION
OVERALL HOUSEHOLD WEALTH HAS PLUMMETED $6.1 TRILLION
CRIME IS AT THE WORST LEVEL IN OUR LIFETIMES
THE AMERICAN DREAM IS BEING KILLED BY RADICAL DEMOCRATS
AMERICA HAS NO LEADERSHIP IN THE WHITE HOUSE
Butttttt...Americans can change their current dark destiny and vote out on November 8, 2022 every one of those a-holes destroying our Country
The situation is dire but Americans can do something about it.
THE FAILED BIDEN ECONOMY STILL SUUUUUUUCKS!
AMERICANS ARE STILL SUFFERING FROM HIGH INFLATION
OVERALL HOUSEHOLD WEALTH HAS PLUMMETED $6.1 TRILLION
CRIME IS AT THE WORST LEVEL IN OUR LIFETIMES
THE AMERICAN DREAM IS BEING KILLED BY RADICAL DEMOCRATS
AMERICA HAS NO LEADERSHIP IN THE WHITE HOUSE
Butttttt...Americans can change their current dark destiny and vote out on November 8, 2022 every one of those a-holes destroying our Country
The situation is dire but Americans can do something about it.
Gas prices are set to surge on OPEC's production forecast.
www.cnn.com
www.axios.com
Gas prices are starting to take off again. More increases are on the way | CNN Business
Even before Wednesday's action by OPEC+ to cut oil production, US gas prices were on their way up. More price increases at the pump likely lay ahead.
www.cnn.com
What OPEC's 2 million-barrel cut could mean for U.S. gas prices
OPEC and Russia are looking to prop up prices that have fallen greatly since early June.
www.axios.com
Biden failed energy policies cost the United States economy $200 billion dollars over two years. Yikes! We could have used that money! Down the biden toilet it goes. What a buffoon. This never would have happened in the Trump Administration. NEVER.
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The thing about Trump was his keen eye for business. He was able to assess the trade deals of previous administrations, call them out for the stupid deals that they were and show how those stupid trade deals didn't benefit Americans at all, then renegotiate better trade deals doing what he does best - MAKE GOOD DEALS. That's what Trump promised and that's what he accomplished. Now, we have another one of those idiot career politicians running the country and he hasn't a clue about how to make a deal that benefits this country. Old joe is stupid, arrogant, clueless, a poor negotiator, bad deal maker, bad deal closer, and will not stand up to China because he's 100% compromised. There's no doubt about it. Just look at this disastrous economy he created and the current sorry state of the country. The House of Saudi played his sorry butt for the old, dementia addled fool he is. OPEC was done, President Trump had them on their knees begging the US to slow down its oil production so they could stay in business. Quite frankly, I wish Trump had dropped the sword on the neck of that criminal organization called OPEC+ so an idiot like old joe biden couldn't revive them.
Bangladesh is one of the largest producers of natural gas globally. Their energy grid operates on the natural gas that they produce.
Try again
In March 2020, Trump attempted to buy 77 million barrels of oil to lift oil prices going into the election. Another Grand Jury?
The US economy is $19.92 trillion. $200 billion over 2 years is the equivalent of Apple’s earnings over the same period. You need to get a gripe.
Actually, Trump’s economy shrank $500.6 billion in 2020. NEVER?
Trump is the only president in history to have a net loss in foreign domestic investment. It is simply incredible that the Global GDP leader would experience a net drain of FDI, but somehow Trump owns the record.
Sorry, but your claim is simply moronic. Literally, the entire world stopped investing in the US because of the uncertainty in Trump’s policies.
Trump’s stated objective was to reduce the trade deficit through the negotiation of more favorable bi-lateral agreements. He failed to negotiate a single new bilateral agreement and the deficit increased by $130 billion.
That's kind of hilarious, the entire world was pouring money into the US during his run....and we weren't sending 100's of billions of dollars to one of the most corrupt countries in the world to edge close to nuclear disaster.....its hilarious when democrats talk of anything good right now
the market is going to crash next week but liberals will still blame it on Trump....don't people understand most independents and cons could care less about Trump right now?
get popcorn, next week may see a 9200 COMP and 3200 SPX
If you live in a foreign country and want to pour money into the US, the first thing that you would do is exchange your foreign currency for USD. Over time, the increased demand for USD would increase the value of the dollar. But, the dollar index fell from 102 to 88 over Trump’s tenure, suggesting that foreign investors sold dollars, as they divested their domestic holdings.
Five NATO countries share borders with Russia. While you might believe that the US should allow Ukraine to fold, helping them seems like a less expensive strategy than deploying US troops to occupy the five NATO nations.
I assume that you are shorting the equity markets next week. I wish you luck
Ah, the magic "one of the largest" phrase. It has no definition, of course, but that's okay. If you mean it cracks the top 30, at number 29 in the world, then sure, it's possible to call number 29 "one of the largest."
And its energy grid does operate on the natural gas that it produces, too. That's certainly true, as well. But Bangladesh is an importer of natural gas, so apparently, its own natural gas pruduction doesn't supply *all* of its needs. This makes your reply inadequate to refute N8tive's statement.
As you often do, you've taken on a tone of authority and made vague claims, hoping nobody checks your work.
In fact, almost your entire post involves replying by making counter claims *on a different subject.*
Try again.
Top countries natural gas production worldwide | Statista
As of 2022, the United States was the biggest producer of natural gas in the world.
www.statista.com
Bangladesh - Power and Energy
This is a best prospect industry sector for this country. Includes a market overview and trade data.
