Author Topic: INFLATION IS OUR FRIEND  (Read 54624 times)

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Offline The California Court Company

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Re: INFLATION IS OUR FRIEND
« Reply #750 on: July 13, 2022, 12:57:11 PM »
I feel sympathetic for people who are less fortunate than us (Talk Irvine posters): those who live paycheck to paycheck and are an unexpected car repair bill away from running up credit card debt…
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Offline nosuchreality

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Re: INFLATION IS OUR FRIEND
« Reply #751 on: July 13, 2022, 01:26:27 PM »
I feel sympathetic for people who are less fortunate than us (Talk Irvine posters): those who live paycheck to paycheck and are an unexpected car repair bill away from running up credit card debt…

Other than inertia, I don’t understand why if you don’t own a home and make under $100,000 why you stay in Southern California?

I can think of demographic reasons why don’t want to move, but for your run of the mill nuclear family, single future nuke family, run!

Or am I jaded and it’s actually worse elsewhere for the segment where every restaurant isn’t paying$17+/hr to start and gig jobs are plentiful?

Offline zubs

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Re: INFLATION IS OUR FRIEND
« Reply #752 on: July 13, 2022, 01:31:53 PM »
Powells interest rate hikes are working even if JUNE inflation numbers are 9.1%.
It's just people like me trying to milk that last few drops of profit before we head lower.

Offline freedomcm

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Re: INFLATION IS OUR FRIEND
« Reply #753 on: July 14, 2022, 06:40:56 AM »
moving is expensive, particularly for families, even if low income.
Gap in paychecks is hard if you don't have $500 in the bank (which is majority of under $100k families)
Extended family support

and then there are those in unfortunate situations - job loss, health decline, never saved for retirement.

I feel sympathetic for people who are less fortunate than us (Talk Irvine posters): those who live paycheck to paycheck and are an unexpected car repair bill away from running up credit card debt…

Other than inertia, I don’t understand why if you don’t own a home and make under $100,000 why you stay in Southern California?

I can think of demographic reasons why don’t want to move, but for your run of the mill nuclear family, single future nuke family, run!

Or am I jaded and it’s actually worse elsewhere for the segment where every restaurant isn’t paying$17+/hr to start and gig jobs are plentiful?

Offline morekaos

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Re: INFLATION IS OUR FRIEND
« Reply #754 on: July 18, 2022, 08:14:58 AM »
Funny how it affects EVERYONE!  Even Smith....

AOC laments 'insane' cost of being congresswoman despite $174,000 salary

OC laments 'insane' cost of being congresswoman despite $174,000 salary

"I rent in both cities. It's so so much," she wrote. "We have to find a new apartment in NYC soon and I'm STRESSED. Rent is wild and the idea of [apartment] searching and moving while legislating and campaigning is yikes."

https://www.washingtonexaminer.com/news/house/aoc-laments-insane-cost-of-being-congresswoman

Offline morekaos

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Re: INFLATION IS OUR FRIEND
« Reply #755 on: July 19, 2022, 09:37:42 AM »
This is why we have hit the rocks…Stupid is as stupid does…
 
Not Ready for Prime Time Players: Majority of Biden Appointees have Zero Years of Business Experience
 
Based on our survey of the top 68 officials in the Biden administration, starting with the president himself, and including cabinet members, regulatory officials, and White House advisers, this study finds: • 62% of Biden appointees who deal with economic policy, regulation, commerce, energy and finance have virtually no business experience. • Only one in eight has extensive business experience. • Average business experience of Biden appointees is only 2.4 years. • Median years of business experience is zero. • The vast majority of the Biden economic/commerce team members are professional politicians, lawyers, community organizers, lobbyists, or government employees. We also compared the Biden administration's business experience to President Trump's cabinet officials during his last year in office. We found that the average Trump cabinet member had 13 years of business experience, and the median years of experience was 8. A breakdown of this analysis is available on our website.
 
https://committeetounleashprosperity.com/wp-content/uploads/2022/07/220718_CTUP_NoExperienceNecessary.pdf
 

Offline morekaos

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Re: INFLATION IS OUR FRIEND
« Reply #756 on: July 22, 2022, 08:10:23 AM »
Inflation is about to explode…now that this (Nobel prize winning) fool says it won’t…. ;D ;D >:D

Paul Krugman: Inflation is about to come down

The inflation report for March came in hot, as expected: Consumer prices are up 8.5 percent over the past year. But more than two years into the pandemic, we’re still living on COVID time, where things can change very fast — so fast that official data, even about the recent past, can give a misleading picture of what’s happening now.

In this case, the consumer price index — which roughly speaking measures average prices over the month — probably missed a downward turn that began in late March and is accelerating as you read this. Inflation will probably fall significantly over the next few months.

https://www.berkshireeagle.com/opinion/columnists/paul-krugman-inflation-is-about-to-come-down-but-don-t-get-too-excited/article_e873cfea-ba9f-11ec-b933-9baed88e0d60.html

Idiots!… ;D ;D >:D

“I Was Wrong About Inflation,”
 
The Times’s economic columnist published an op-ed with a headline that didn’t beat around the bush – for a change – and acknowledged how bad his unrealistic takes on the inflation crisis were for the past year. “I Was Wrong About Inflation,” says the headline. The disgruntled economist actually conceded that Biden’s irresponsible $1.9 trillion stimulus package was inflationary, despite his earlier objections to the contrary.
“Some warned that the package would be dangerously inflationary; others were fairly relaxed," Krugman wrote. “I was Team Relaxed. As it turned out, of course, that was a very bad call.” Krugman’s latest concession comes after recent news that inflation spiked 9.1 percent year-over-year in June, wiping out estimates of an 8.8-percent increase.
Times Opinion put Krugman’s piece at the top of a list that included other columnists for the newspaper like Tom Friedman and Farhad Manjoo who gave their mea culpas for bad takes that didn’t age well. But one of the columnists, apostate conservative David Brooks, used his confession to act like Krugman-lite and cry that he was “wrong” about the benefits of capitalism even though he recently argued in October 2021 that the U.S. needed to juice the economy with $4 trillion.
 
https://www.nytimes.com/2022/07/21/opinion/paul-krugman-inflation.html?action=click&pgtype=Article&state=default&module=opinion-i-was-wrong&variant=show&region=TOP_BANNER&context=g-iwaswrong-topnav
 

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Offline someguy

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Re: INFLATION IS OUR FRIEND
« Reply #757 on: July 22, 2022, 08:53:04 AM »
Inflation is about to explode…now that this (Nobel prize winning) fool says it won’t…. ;D ;D >:D

Paul Krugman: Inflation is about to come down

The inflation report for March came in hot, as expected: Consumer prices are up 8.5 percent over the past year. But more than two years into the pandemic, we’re still living on COVID time, where things can change very fast — so fast that official data, even about the recent past, can give a misleading picture of what’s happening now.

In this case, the consumer price index — which roughly speaking measures average prices over the month — probably missed a downward turn that began in late March and is accelerating as you read this. Inflation will probably fall significantly over the next few months.

https://www.berkshireeagle.com/opinion/columnists/paul-krugman-inflation-is-about-to-come-down-but-don-t-get-too-excited/article_e873cfea-ba9f-11ec-b933-9baed88e0d60.html

Idiots!… ;D ;D >:D

“I Was Wrong About Inflation,”
 
The Times’s economic columnist published an op-ed with a headline that didn’t beat around the bush – for a change – and acknowledged how bad his unrealistic takes on the inflation crisis were for the past year. “I Was Wrong About Inflation,” says the headline. The disgruntled economist actually conceded that Biden’s irresponsible $1.9 trillion stimulus package was inflationary, despite his earlier objections to the contrary.
“Some warned that the package would be dangerously inflationary; others were fairly relaxed," Krugman wrote. “I was Team Relaxed. As it turned out, of course, that was a very bad call.” Krugman’s latest concession comes after recent news that inflation spiked 9.1 percent year-over-year in June, wiping out estimates of an 8.8-percent increase.
Times Opinion put Krugman’s piece at the top of a list that included other columnists for the newspaper like Tom Friedman and Farhad Manjoo who gave their mea culpas for bad takes that didn’t age well. But one of the columnists, apostate conservative David Brooks, used his confession to act like Krugman-lite and cry that he was “wrong” about the benefits of capitalism even though he recently argued in October 2021 that the U.S. needed to juice the economy with $4 trillion.
 
https://www.nytimes.com/2022/07/21/opinion/paul-krugman-inflation.html?action=click&pgtype=Article&state=default&module=opinion-i-was-wrong&variant=show&region=TOP_BANNER&context=g-iwaswrong-topnav

Perhaps we can rely on these "experts" to be consistently wrong.  Now that they're saying they are not relaxed about inflation the reality could be inflation is going to ease.

Offline morekaos

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Re: INFLATION IS OUR FRIEND
« Reply #758 on: August 01, 2022, 08:01:18 AM »
Now we KNOW we are in a recession…or really stagflation.., ;D ;D >:D
 
New York Times columnist and Nobel Prize winning economist Paul Krugman is mocked for insisting to CNN that America ISN'T in a recession and that the term 'doesn't matter'
·         Krugman, 69, made the controversial comments on a CNN talk show this Sunday
·         He dismissed talk of recession and said 'the state of the economy is what it is'
·         The questionable commentary prompted a hail of criticism on social media
·         US GDP has shrunk for two consecutive quarters - a popular marker of recession
·         But Biden has refused to acknowledge this despite record low approval ratings
·         Krugman is a Nobel laureate and renowned economist but has a strong anti-Republican reputation and has made a series of incorrect economic predictions
 
https://www.dailymail.co.uk/news/article-11068373/Nobel-Prize-winning-economist-Paul-Krugman-mocked-insisting-America-ISNT-recession.html
 

Offline Liar Loan

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Re: INFLATION IS OUR FRIEND
« Reply #759 on: August 01, 2022, 10:30:54 AM »
Now we KNOW we are in a recession…or really stagflation.., ;D ;D >:D
 
New York Times columnist and Nobel Prize winning economist Paul Krugman is mocked for insisting to CNN that America ISN'T in a recession and that the term 'doesn't matter'
·         Krugman, 69, made the controversial comments on a CNN talk show this Sunday
·         He dismissed talk of recession and said 'the state of the economy is what it is'
·         The questionable commentary prompted a hail of criticism on social media
·         US GDP has shrunk for two consecutive quarters - a popular marker of recession
·         But Biden has refused to acknowledge this despite record low approval ratings
·         Krugman is a Nobel laureate and renowned economist but has a strong anti-Republican reputation and has made a series of incorrect economic predictions
 
https://www.dailymail.co.uk/news/article-11068373/Nobel-Prize-winning-economist-Paul-Krugman-mocked-insisting-America-ISNT-recession.html

The job losses haven't kicked into high gear yet, so that's what they are basing this Orwellian wordsmithing on.  Yet, we've all experienced a 10-15% loss in purchasing power, while incomes have struggled to keep up.  So instead of widespread job losses, it's an across the board pay cut.  Maybe not quite as painful as a job loss, but it's a recession for those that struggle to afford the basics like food, rent, gas, and utilities.  The wealthy elite just don't see it.
« Last Edit: August 01, 2022, 11:01:57 AM by Liar Loan »

Offline morekaos

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Re: INFLATION IS OUR FRIEND
« Reply #760 on: August 01, 2022, 11:05:35 AM »
….confirmation
 
Treasury Secretary Janet Yellen DENIES economy is in recession but admits it's 'slowing down': Biden official says 9.1% inflation is 'too high' but 'signs' of a downturn aren't there
·         Treasury Secretary Janet Yellen said the economy slowing down was 'necessary and appropriate' for its longterm health during a Meet The Press interview
·         The Biden official was asked if Americans should be 'preparing' for a recession
·         It comes as the economy becomes a growing problem for Democrats heading into November's midterm elections
·         President Biden also called the inflation rate too high but said the data was 'out of date'
·         Yellen and Biden met with the president's other economic advisers on Friday
 
https://www.dailymail.co.uk/news/article-11043837/Treasury-Secretary-Janet-Yellen-DENIES-economy-recession-admits-slowing-down.html

 

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