INFLATION IS OUR FRIEND

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The author argues that a 4% inflation target would have benefits over a 2% inflation target

And your rebuttal is "tHeY sAiD iT wOuLd bE trAnSiToRy!" ?
 
fatduck said:
The author argues that a 4% inflation target would have benefits over a 2% inflation target

And your rebuttal is "tHeY sAiD iT wOuLd bE trAnSiToRy!" ?
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Blew right by that....

ECONOMY
Consumer prices rise more than expected as energy costs surge

Consumer prices overall rose 0.4% in September, pushing the year-over-year gain to 5.4%.
[url]https://www.cnbc.com/2021/10/13/the-consumer-price-index-rose-5point4percent-year-over-year-in-september-vs-5point3percent-estimate.html?__source=iosappshare%7Ccom.apple.UIKit.activity.Mail[/url]
 
Yes, I do. And on certain areas I agree that a nominal level of inflation is healthy.  Unfortunately, I have never trusted the numbers as an accurate reflection of reality when it comes to inflation.  If the government says it 2% its probably really 4%.  Remember, just a year ago the target level of inflation that the fed set was 2%.  That was a level that above was not considered health and needed Fed attention.  What I am laboring to point out is that is inflation is here and it is not 4 or even 5...its is much higher and its not "transient".  The narrative is now shifting from its "only temporary" to "its OK...inflation is your friend."  It is not, and the real level of inflation and where it will probably be going is not healthy at all.
 
Recently my customer wanted to buy $36,000 worth of goods.
I told her the new price would be $48,000 and it would take about 7 months to get to NY.

She accepted the new price, but could not accept the lead time.  She said she was going to find another maker.
That was a week ago.  Today she sent me the PO.


The factories that are running 100% and not getting fucked by covid are picking up a lot of extra business. 
 
Another inflation driven cost that this government cannot afford due to inflation.  Additionally the SS cap will also move up to $147,000.00 so there goes the "Taxes wont go up one cent for those under $400,000.00" ...and it wont cover the costs...Bye Bye.

Biden will give around 70M retirees a 5.9% boost in Social Security payments in the biggest cost of living adjustment in 39 years - to keep up with rampant inflation under his administration
Social Security Administration has not raised benefits so drastically year-over-year since 1982
Social security checks will raise 5.9%, about $92 for the average retired worker, in a shocking display of inflation
A typical retired worker will now receive $1,657 a month starting next year
To account for the added cost to taxpayers, the Social Security tax will be applied to earnings up to $147,000 in 2022, up from $142,800 this year
The increase will hit the paychecks of 12million high-income workers

https://www.dailymail.co.uk/news/article-10088133/Bidens-Social-Security-Administration-70-million-retirees-5-9-boost-payments.html

 
zubs said:
Recently my customer wanted to buy $36,000 worth of goods.
I told her the new price would be $48,000 and it would take about 7 months to get to NY.

She accepted the new price, but could not accept the lead time.  She said she was going to find another maker.
That was a week ago.  Today she sent me the PO.


The factories that are running 100% and not getting fucked by covid are picking up a lot of extra business.
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If the factory is in China, they might have electricity problems.
 
I think you better spend that $100 in your pocket today because in 6 months it's going to be only worth $80.
 
zubs said:
I think you better spend that $100 in your pocket today because in 6 months it's going to be only worth $80.
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I told my wife that a couple months ago.  If you're on the fence about something, just buy it.
 
daedalus said:
zubs said:
I think you better spend that $100 in your pocket today because in 6 months it's going to be only worth $80.
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I told my wife that a couple months ago.  If you're on the fence about something, just buy it.
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If I told my wife that I?d have a reservation for a new Model X in my inbox 10min later.
 
What an out of touch douche...higher prices are good remember?  Those complainers are just a bunch of billionaires who can afford more expensive steak!!!

White House Chief of Staff Ron Klain promotes tweet calling inflation and the supply chain chaos 'high class problems': GOP tears into 'clueless' and 'tone-death' White House for response to Biden's growing crises
White House Chief of Staff Ron Klain agreed Wednesday U.S. economic issues ? including inflation and supply chain delays ? are 'high class problems'
Responding to Obama's former chairman of the Council of Economic Advisers saying problems would be 'much worse' if the unemployment was still at 10%
Republicans criticized Klain and said it shows the White House is 'tone-deaf' on policies hurting American families
White House Press Secretary Jen Psaki confusingly said Wednesday inflation has fallen by 50% in recent months
The Labor Department numbers show that compared to September 2020, consumer prices have risen 5.4% ? a 13-year high

https://www.dailymail.co.uk/news/article-10091939/WH-Ron-Klain-promotes-tweet-calling-inflation-supply-chain-crisis-high-class-problems.html

Psaki brushed off inflation concerns like it was no big deal.

?We all understand the American people are not looking at cost-to-cost comparisons from this year to two years ago,? Psaki said.
 
When people refer to heating bill going up are they talking about gas bill or electricity bill?  In the winter if we use the heat, my gas bill goes from like $14 to $22.  Not a bank breaker.
 
aquabliss said:
When people refer to heating bill going up are they talking about gas bill or electricity bill?  In the winter if we use the heat, my gas bill goes from like $14 to $22.  Not a bank breaker.
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I have an old fashioned in floor gas heater...winter my gas bill quadruples.  This whole thing really doesn't affect us.  Mid-West and East coast use enormous amounts of energy to heat in the winter.
 
aquabliss said:
When people refer to heating bill going up are they talking about gas bill or electricity bill?  In the winter if we use the heat, my gas bill goes from like $14 to $22.  Not a bank breaker.
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That's because you don't live in a place that looks like this.

kcb31y-backstoryirvine.560.jpg
 
CalBears96 said:
morekaos said:
A year ago I was paying $2.90 for a gallon of gas = $6.00 a gallon gas...fact or just my opinion.  Numbers...just numbers.
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Except gas now is about $4.00. Stop lying.

Also, what does that have to do with anything? A year ago, demand was less because fewer people were driving. I mean, seriously. Stop using misinformation.
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You were saying?.... ;D ;D >:D
Gas prices hit $5 in Manhattan

NEW YORK - Gas prices are on the rise and they have hit nearly $5 for regular and are now about $5.40 a gallon for supreme in Manhattan.

A Mobil station on 11th Ave. on the West Side had the eye-popping prices on Monday evening.

https://www.fox5ny.com/news/gas-prices-hit-5-in-manhattan
 

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eyephone said:
They ran out of gas in UK stations. There is a global energy crisis. I thought he is a financial expert.
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Saw this coming a mile away (Biden just couldn't help themselves)  took full advantage.  Money, money, money!
 
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