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MSNBC: Inflation a Good Thing
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green Offline
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Post: #21
RE: MSNBC: Inflation a Good Thing
(11-11-2021 07:07 PM)scorpius Wrote:  
(11-10-2021 03:26 PM)miko33 Wrote:  
(11-10-2021 03:17 PM)scorpius Wrote:  
(11-08-2021 05:46 PM)CrimsonPhantom Wrote:  

That's the type of headline you'd expect to see on Fox News. 03-lmfao

We're not seeing that type of headline on Fox News. However, the title of this thread IS an actual headline from MSNBC. Inflation is good IF we were coming out of a deflationary spiral. We are not though, and given the inflation rates we're seeing in the ranges from 6% to 8% it's objectively a BAD thing...

What rock have you been sleeping under? The Fed has been majorly concerned about deflation for years. That's why interest rates became virtually non-existent over the past decade. In fact it's still a major concern and thus why it's not bad at all if some of this inflation is permanent. If inflation was as concerning as the right seems to be making it out to be, the Fed would have already emergency pulled back all of it's stimulus and have started to raise rates by now. But it's looking like 2023 before we get to that point, if any time soon.



https://twitter.com/LieselGreer/status/1...6510497792

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11-11-2021 09:19 PM
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green Offline
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Post: #22
RE: MSNBC: Inflation a Good Thing
(11-11-2021 07:07 PM)scorpius Wrote:  
(11-10-2021 03:26 PM)miko33 Wrote:  
(11-10-2021 03:17 PM)scorpius Wrote:  
(11-08-2021 05:46 PM)CrimsonPhantom Wrote:  

That's the type of headline you'd expect to see on Fox News. 03-lmfao

We're not seeing that type of headline on Fox News. However, the title of this thread IS an actual headline from MSNBC. Inflation is good IF we were coming out of a deflationary spiral. We are not though, and given the inflation rates we're seeing in the ranges from 6% to 8% it's objectively a BAD thing...

What rock have you been sleeping under? The Fed has been majorly concerned about deflation for years. That's why interest rates became virtually non-existent over the past decade. In fact it's still a major concern and thus why it's not bad at all if some of this inflation is permanent. If inflation was as concerning as the right seems to be making it out to be, the Fed would have already emergency pulled back all of it's stimulus and have started to raise rates by now. But it's looking like 2023 before we get to that point, if any time soon.



https://twitter.com/CNBC/status/1348720568317710345

TAKE AWAY THE PUNCH BOWL
11-11-2021 09:36 PM
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miko33 Offline
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Post: #23
RE: MSNBC: Inflation a Good Thing
(11-11-2021 07:07 PM)scorpius Wrote:  
(11-10-2021 03:26 PM)miko33 Wrote:  
(11-10-2021 03:17 PM)scorpius Wrote:  
(11-08-2021 05:46 PM)CrimsonPhantom Wrote:  

That's the type of headline you'd expect to see on Fox News. 03-lmfao

We're not seeing that type of headline on Fox News. However, the title of this thread IS an actual headline from MSNBC. Inflation is good IF we were coming out of a deflationary spiral. We are not though, and given the inflation rates we're seeing in the ranges from 6% to 8% it's objectively a BAD thing...

What rock have you been sleeping under? [b]The Fed has been majorly concerned about deflation for years.[/b] That's why interest rates became virtually non-existent over the past decade. In fact it's still a major concern and thus why it's not bad at all if some of this inflation is permanent. If inflation was as concerning as the right seems to be making it out to be, the Fed would have already emergency pulled back all of it's stimulus and have started to raise rates by now. But it's looking like 2023 before we get to that point, if any time soon.

In what world is having a concern over deflation the same as actually seeing deflation in the numbers? You cannot equate these 2 as being equivalent. Yes, there was a concern that we MIGHT slip into a period of deflation and therefore had a lax monetary policy with ultra low interest rates. That said, the YOY inflation numbers were still between 1% - 2%. The YOY inflation goal is around 2% - 2.5%. Deflation never actually happened and it was staved off with a low interest rate environment WITHOUT major gov't spending levels as proposed by the BBB and the "infrastructure +" bill (with some nastiness not related to infrastructure...).

All of the extreme stimulus spending the Biden admin proposes could do what you suggest IF there was sufficient supply of goods and services but the demand simply isn't there. We are not in that type of environment. We're in an environment where the demand is there, people are willing to spend their money and have been even before Biden's first bailout checks directly to the people. Unfortunately the supply of goods and services are not available in sufficient quantities to meet demand. Why is that? Some of this has to do with supply chain problems with China. Also, the vaccine mandates are causing workers to quit so that domestically we aren't providing the same goods and services (production and logistics). Also - specifically to hydrocarbons - there is zero incentive for oil and gas producers to produce more given the hostile environment the Biden admin has created over the future of most of our energy companies.

Given all of this, the grossly high inflation rates lead us to this conclusion: You do not inflate the money supply when the supply of goods and services have contracted.
11-12-2021 06:43 AM
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VA49er Offline
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Post: #24
RE: MSNBC: Inflation a Good Thing
(11-12-2021 06:43 AM)miko33 Wrote:  
(11-11-2021 07:07 PM)scorpius Wrote:  
(11-10-2021 03:26 PM)miko33 Wrote:  
(11-10-2021 03:17 PM)scorpius Wrote:  
(11-08-2021 05:46 PM)CrimsonPhantom Wrote:  

That's the type of headline you'd expect to see on Fox News. 03-lmfao

We're not seeing that type of headline on Fox News. However, the title of this thread IS an actual headline from MSNBC. Inflation is good IF we were coming out of a deflationary spiral. We are not though, and given the inflation rates we're seeing in the ranges from 6% to 8% it's objectively a BAD thing...

What rock have you been sleeping under? [b]The Fed has been majorly concerned about deflation for years.[/b] That's why interest rates became virtually non-existent over the past decade. In fact it's still a major concern and thus why it's not bad at all if some of this inflation is permanent. If inflation was as concerning as the right seems to be making it out to be, the Fed would have already emergency pulled back all of it's stimulus and have started to raise rates by now. But it's looking like 2023 before we get to that point, if any time soon.

In what world is having a concern over deflation the same as actually seeing deflation in the numbers? You cannot equate these 2 as being equivalent. Yes, there was a concern that we MIGHT slip into a period of deflation and therefore had a lax monetary policy with ultra low interest rates. That said, the YOY inflation numbers were still between 1% - 2%. The YOY inflation goal is around 2% - 2.5%. Deflation never actually happened and it was staved off with a low interest rate environment WITHOUT major gov't spending levels as proposed by the BBB and the "infrastructure +" bill (with some nastiness not related to infrastructure...).

All of the extreme stimulus spending the Biden admin proposes could do what you suggest IF there was sufficient supply of goods and services but the demand simply isn't there. We are not in that type of environment. We're in an environment where the demand is there, people are willing to spend their money and have been even before Biden's first bailout checks directly to the people. Unfortunately the supply of goods and services are not available in sufficient quantities to meet demand. Why is that? Some of this has to do with supply chain problems with China. Also, the vaccine mandates are causing workers to quit so that domestically we aren't providing the same goods and services (production and logistics). Also - specifically to hydrocarbons - there is zero incentive for oil and gas producers to produce more given the hostile environment the Biden admin has created over the future of most of our energy companies.

Given all of this, the grossly high inflation rates lead us to this conclusion: You do not inflate the money supply when the supply of goods and services have contracted.

Exactly, which tells me the D's push to inject trillions now, during the highest inflation in over 30 years, is purely political and they DO NOT have the country's best interest at heart no matter how they try and spin it. I'd like to think at least some of them have taken an econ couruse at least once in their life.
11-12-2021 06:47 AM
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boss man Offline
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Post: #25
RE: MSNBC: Inflation a Good Thing
Biden* continues his core obsession to BILLED BACK BETTER.

Only the U.S. taxpayers foot this incredible BILL.

Dr. Barnes advice to American citizens

LET'S GO BRANDON!!
11-12-2021 07:43 AM
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green Offline
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Post: #26
RE: MSNBC: Inflation a Good Thing
(11-11-2021 07:07 PM)scorpius Wrote:  
(11-10-2021 03:26 PM)miko33 Wrote:  
(11-10-2021 03:17 PM)scorpius Wrote:  
(11-08-2021 05:46 PM)CrimsonPhantom Wrote:  

That's the type of headline you'd expect to see on Fox News. 03-lmfao

We're not seeing that type of headline on Fox News. However, the title of this thread IS an actual headline from MSNBC. Inflation is good IF we were coming out of a deflationary spiral. We are not though, and given the inflation rates we're seeing in the ranges from 6% to 8% it's objectively a BAD thing...

What rock have you been sleeping under? The Fed has been majorly concerned about deflation for years. That's why interest rates became virtually non-existent over the past decade. In fact it's still a major concern and thus why it's not bad at all if some of this inflation is permanent. If inflation was as concerning as the right seems to be making it out to be, the Fed would have already emergency pulled back all of it's stimulus and have started to raise rates by now. But it's looking like 2023 before we get to that point, if any time soon.



https://twitter.com/CBSNews/status/1458668310959120384

TITULAR HEAD
11-12-2021 09:19 AM
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UTSAMarineVet09 Offline
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Post: #27
RE: MSNBC: Inflation a Good Thing
I used to pay about $75 a week in groceries, now I am paying close to $100... lets go Brandon!!!
11-12-2021 09:28 AM
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Oman Offline
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Post: #28
RE: MSNBC: Inflation a Good Thing
(11-11-2021 07:07 PM)scorpius Wrote:  What rock have you been sleeping under? The Fed has been majorly concerned about deflation for years. That's why interest rates became virtually non-existent over the past decade. In fact it's still a major concern and thus why it's not bad at all if some of this inflation is permanent. If inflation was as concerning as the right seems to be making it out to be, the Fed would have already emergency pulled back all of it's stimulus and have started to raise rates by now. But it's looking like 2023 before we get to that point, if any time soon.

Scorp my friend, i actually enjoy your discussions on technology advances, you seem to be somewhat well read on those subjects. Here you have no idea what you're talking about, please quit while you are only behind, and before you fall on your face.
11-12-2021 09:48 AM
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BlueDragon Offline
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Post: #29
RE: MSNBC: Inflation a Good Thing
(11-11-2021 07:07 PM)scorpius Wrote:  
(11-10-2021 03:26 PM)miko33 Wrote:  
(11-10-2021 03:17 PM)scorpius Wrote:  
(11-08-2021 05:46 PM)CrimsonPhantom Wrote:  

That's the type of headline you'd expect to see on Fox News. 03-lmfao

We're not seeing that type of headline on Fox News. However, the title of this thread IS an actual headline from MSNBC. Inflation is good IF we were coming out of a deflationary spiral. We are not though, and given the inflation rates we're seeing in the ranges from 6% to 8% it's objectively a BAD thing...

What rock have you been sleeping under? The Fed has been majorly concerned about deflation for years. That's why interest rates became virtually non-existent over the past decade. In fact it's still a major concern and thus why it's not bad at all if some of this inflation is permanent. If inflation was as concerning as the right seems to be making it out to be, the Fed would have already emergency pulled back all of it's stimulus and have started to raise rates by now. But it's looking like 2023 before we get to that point, if any time soon.

Reality much? Somewhere in your life you must have been handed wealth and live in some quasi world. Some other realm that is apparently not the reality. Owens is spot on with her comments as supply chains breakdown and uncontrolled inflation spirals out of control along with unaffordable means to purchase transportation and housing one has to suppose starvation is just around the corner. Large cities will be the first to experience it.
11-12-2021 10:26 AM
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CrimsonPhantom Offline
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Post: #30
RE: MSNBC: Inflation a Good Thing


[Image: uqFEZnmC.jpeg]
(This post was last modified: 11-14-2021 03:24 PM by CrimsonPhantom.)
11-14-2021 03:17 PM
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CrimsonPhantom Offline
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Post: #31
RE: MSNBC: Inflation a Good Thing
Biden's 'Solution' to Inflation Is What Got Us Into This Mess to Being With


Quote:I’m fairly certain that Joe Biden doesn’t understand inflation.

He’s now finally acknowledging that inflation is a problem, after his people for months claimed it would be “transitory,” but as even MSNBC’s Chuck Todd notes, it’s six months later, it’s no longer “transitory.”



Joe Biden’s National Economic Council Director Brian Deese is the guy who said if you just didn’t consider how much meat cost, then other things were pretty much within norms.

The Biden team didn’t even understand it six months ago. They just wanted to pull the covers up over their heads and hope it would go away. As I previously noted it’s the Bystander Biden administration, the bad things are just happening around them, not their fault.

The Bystander Administration gave more evidence that they still don’t understand it now. Because Joe Biden’s answer as to how he’s solving it defies all reality. He previously acknowledged that his stimulus checks were part of the reason for the spike in inflation. So what does he argue now will solve inflation? More spending with his Build Back Better bill, of course.



So now that Biden has dug us a huge hole, let’s just keep on digging, he argues. Oh, and by the way about that “historic recovery?” I don’t know what he’s looking at but it sure doesn’t look like a recovery to the folks who are having to pay more for everything. Although it is “historic” — as in highest inflation in more than 30 years, as well as reminding us of the horrible inflationary times of Jimmy Carter.

There is nothing in the bill that will stop inflation, indeed it can only make it worse. But the fact that they’ll sell the spending monstrosity as a solution to inflation says how dishonest and/or ignorant Biden really is.

But hey, no worries, White House Chief of Staff Ron Klain says we’re better off now than a year ago and it’s all good because we’re jabbing five-year-olds with the vaccine so that will help everything. Doesn’t that reassure you? Check Jake Tapper’s face as Klain claims we’re better off now than we were a year ago — even he can’t maintain his face on that one.



Jabbing five-year-olds won’t do a darn thing to help the inflation and Ron Klain needs to list even one problem that they’ve solved. I can list a boatload that they’ve caused.

When even CNN can’t hold it together for the gaslighting, you know that it’s not going well.
11-15-2021 11:55 AM
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Post: #32
RE: MSNBC: Inflation a Good Thing
(11-15-2021 11:55 AM)CrimsonPhantom Wrote:  Biden's 'Solution' to Inflation Is What Got Us Into This Mess to Being With


Quote:I’m fairly certain that Joe Biden doesn’t understand inflation.

He’s now finally acknowledging that inflation is a problem, after his people for months claimed it would be “transitory,” but as even MSNBC’s Chuck Todd notes, it’s six months later, it’s no longer “transitory.”



Joe Biden’s National Economic Council Director Brian Deese is the guy who said if you just didn’t consider how much meat cost, then other things were pretty much within norms.

The Biden team didn’t even understand it six months ago. They just wanted to pull the covers up over their heads and hope it would go away. As I previously noted it’s the Bystander Biden administration, the bad things are just happening around them, not their fault.

The Bystander Administration gave more evidence that they still don’t understand it now. Because Joe Biden’s answer as to how he’s solving it defies all reality. He previously acknowledged that his stimulus checks were part of the reason for the spike in inflation. So what does he argue now will solve inflation? More spending with his Build Back Better bill, of course.



So now that Biden has dug us a huge hole, let’s just keep on digging, he argues. Oh, and by the way about that “historic recovery?” I don’t know what he’s looking at but it sure doesn’t look like a recovery to the folks who are having to pay more for everything. Although it is “historic” — as in highest inflation in more than 30 years, as well as reminding us of the horrible inflationary times of Jimmy Carter.

There is nothing in the bill that will stop inflation, indeed it can only make it worse. But the fact that they’ll sell the spending monstrosity as a solution to inflation says how dishonest and/or ignorant Biden really is.

But hey, no worries, White House Chief of Staff Ron Klain says we’re better off now than a year ago and it’s all good because we’re jabbing five-year-olds with the vaccine so that will help everything. Doesn’t that reassure you? Check Jake Tapper’s face as Klain claims we’re better off now than we were a year ago — even he can’t maintain his face on that one.



Jabbing five-year-olds won’t do a darn thing to help the inflation and Ron Klain needs to list even one problem that they’ve solved. I can list a boatload that they’ve caused.

When even CNN can’t hold it together for the gaslighting, you know that it’s not going well.

yeah....it's transitory into former sig line 1b)

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11-15-2021 12:46 PM
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Eldonabe Offline
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Post: #33
RE: MSNBC: Inflation a Good Thing
What really sucks at this point is that in order to stop this runaway train, even more pain will have to be inflicted. In order for Paul Volker to break the back of inflation, it spiked up even more at first as they needed to take money out of the system to get the value of the Dollar back up. If you look at Reagan's first 18 months, inflation went crazy before it finally subsided.

It will be an initial rallying cry from the Dems as they say - see you can't fix it either.


What kills me is that we have actual history here to look back on. Why does Joe continue to think this will have a different outcome than last time they printed money and taxes business out of the country like this?
11-15-2021 12:49 PM
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VA49er Offline
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Post: #34
RE: MSNBC: Inflation a Good Thing
For some reason, the D's think injection trillions of more dollars into the economy will actually help decrease inflation. What school do they teach that? For some reason they are describing it as "investing", which again makes no sense to do while inflation at record highs.
11-15-2021 01:31 PM
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scorpius Offline
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Post: #35
RE: MSNBC: Inflation a Good Thing
(11-11-2021 07:15 PM)maximus Wrote:  
(11-11-2021 07:07 PM)scorpius Wrote:  
(11-10-2021 03:26 PM)miko33 Wrote:  
(11-10-2021 03:17 PM)scorpius Wrote:  
(11-08-2021 05:46 PM)CrimsonPhantom Wrote:  

That's the type of headline you'd expect to see on Fox News. 03-lmfao

We're not seeing that type of headline on Fox News. However, the title of this thread IS an actual headline from MSNBC. Inflation is good IF we were coming out of a deflationary spiral. We are not though, and given the inflation rates we're seeing in the ranges from 6% to 8% it's objectively a BAD thing...

What rock have you been sleeping under? The Fed has been majorly concerned about deflation for years. That's why interest rates became virtually non-existent over the past decade. In fact it's still a major concern and thus why it's not bad at all if some of this inflation is permanent. If inflation was as concerning as the right seems to be making it out to be, the Fed would have already emergency pulled back all of it's stimulus and have started to raise rates by now. But it's looking like 2023 before we get to that point, if any time soon.
Ban me suspend me whatever you want...

Scorpius please go to some other board and gtfo. You are an abortion loving retard who probably stalks little boys and girls online.

Youre a dope

A loser

An idiot

Probably out of all my years on these boards the biggest moron of all morons.

Get lost ******



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This is why we have Q'anon. It's the response of the right as it goes nuts after being slapped with the truth. Everything is about this with them. It's like they are fascinated by it. So much so, it's slapped right out of them when hit with the truth.

QAnon Is Supposed to Be All About Protecting Kids. Its Primary Enabler Appears to Have Hosted Child Porn Domains.
(This post was last modified: 11-16-2021 04:16 PM by scorpius.)
11-16-2021 03:56 PM
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Oman Offline
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Post: #36
RE: MSNBC: Inflation a Good Thing
(11-16-2021 03:56 PM)scorpius Wrote:  This is why we have Q'anon. It's the response of the right as it goes nuts after being slapped with the truth. Everything is about child pornography with them. It's like they are fascinated by it. So much so, it's slapped right out of them when hit with the truth.

QAnon Is Supposed to Be All About Protecting Kids. Its Primary Enabler Appears to Have Hosted Child Porn Domains.

nice shift there.. show your immense lack of basic economics then shift away middle thread.

i'm really trying to understand what a motherjones article on child porn has to do with inflation and the disaster the current administration has become.

shift... argue.. shift... argue.. shift...
11-16-2021 04:17 PM
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scorpius Offline
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Post: #37
RE: MSNBC: Inflation a Good Thing
(11-16-2021 04:17 PM)Oman Wrote:  
(11-16-2021 03:56 PM)scorpius Wrote:  This is why we have Q'anon. It's the response of the right as it goes nuts after being slapped with the truth. Everything is about child pornography with them. It's like they are fascinated by it. So much so, it's slapped right out of them when hit with the truth.

QAnon Is Supposed to Be All About Protecting Kids. Its Primary Enabler Appears to Have Hosted Child Porn Domains.

nice shift there.. show your immense lack of basic economics then shift away middle thread.

i'm really trying to understand what a motherjones article on child porn has to do with inflation and the disaster the current administration has become.

shift... argue.. shift... argue.. shift...

I wasn't the one who shifted it. I was responding to earlier garbage. Check what I quoted. My response on this is what I said earlier that no one could respond to with anything but garbage:

scorpius Wrote:What rock have you been sleeping under? The Fed has been majorly concerned about deflation for years. That's why interest rates became virtually non-existent over the past decade. In fact it's still a major concern and thus why it's not bad at all if some of this inflation is permanent. If inflation was as concerning as the right seems to be making it out to be, the Fed would have already emergency pulled back all of it's stimulus and have started to raise rates by now. But it's looking like 2023 before we get to that point, if any time soon.
(This post was last modified: 11-16-2021 05:01 PM by scorpius.)
11-16-2021 04:57 PM
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miko33 Offline
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Post: #38
RE: MSNBC: Inflation a Good Thing
(11-16-2021 04:57 PM)scorpius Wrote:  
(11-16-2021 04:17 PM)Oman Wrote:  
(11-16-2021 03:56 PM)scorpius Wrote:  This is why we have Q'anon. It's the response of the right as it goes nuts after being slapped with the truth. Everything is about child pornography with them. It's like they are fascinated by it. So much so, it's slapped right out of them when hit with the truth.

QAnon Is Supposed to Be All About Protecting Kids. Its Primary Enabler Appears to Have Hosted Child Porn Domains.

nice shift there.. show your immense lack of basic economics then shift away middle thread.

i'm really trying to understand what a motherjones article on child porn has to do with inflation and the disaster the current administration has become.

shift... argue.. shift... argue.. shift...

I wasn't the one who shifted it. I was responding to earlier garbage. Check what I quoted. My response on this is what I said earlier that no one could respond to with anything but garbage:

scorpius Wrote:What rock have you been sleeping under? The Fed has been majorly concerned about deflation for years. That's why interest rates became virtually non-existent over the past decade. In fact it's still a major concern and thus why it's not bad at all if some of this inflation is permanent. If inflation was as concerning as the right seems to be making it out to be, the Fed would have already emergency pulled back all of it's stimulus and have started to raise rates by now. But it's looking like 2023 before we get to that point, if any time soon.

In bold, this was your response to an earlier comment I made in this thread. Are you saying my response to this comment was garbage? If so, please detail exactly where I went off the rails and show me how I'm wrong.

ETA: You never responded to my comment where I responded to your statements in bold. Thought we were having a serious discussion. Was I wrong?
(This post was last modified: 11-17-2021 08:28 AM by miko33.)
11-17-2021 08:21 AM
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Eldonabe Offline
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Post: #39
RE: MSNBC: Inflation a Good Thing
(11-17-2021 08:21 AM)miko33 Wrote:  
(11-16-2021 04:57 PM)scorpius Wrote:  
(11-16-2021 04:17 PM)Oman Wrote:  
(11-16-2021 03:56 PM)scorpius Wrote:  This is why we have Q'anon. It's the response of the right as it goes nuts after being slapped with the truth. Everything is about child pornography with them. It's like they are fascinated by it. So much so, it's slapped right out of them when hit with the truth.

QAnon Is Supposed to Be All About Protecting Kids. Its Primary Enabler Appears to Have Hosted Child Porn Domains.

nice shift there.. show your immense lack of basic economics then shift away middle thread.

i'm really trying to understand what a motherjones article on child porn has to do with inflation and the disaster the current administration has become.

shift... argue.. shift... argue.. shift...

I wasn't the one who shifted it. I was responding to earlier garbage. Check what I quoted. My response on this is what I said earlier that no one could respond to with anything but garbage:

scorpius Wrote:What rock have you been sleeping under? The Fed has been majorly concerned about deflation for years. That's why interest rates became virtually non-existent over the past decade. In fact it's still a major concern and thus why it's not bad at all if some of this inflation is permanent. If inflation was as concerning as the right seems to be making it out to be, the Fed would have already emergency pulled back all of it's stimulus and have started to raise rates by now. But it's looking like 2023 before we get to that point, if any time soon.

In bold, this was your response to an earlier comment I made in this thread. Are you saying my response to this comment was garbage? If so, please detail exactly where I went off the rails and show me how I'm wrong.

ETA: You never responded to my comment where I responded to your statements in bold. Thought we were having a serious discussion. Was I wrong?


He has been a little busy to respond.

Goal posts don't just move without someone to dig them out of the ground and then dig new holes to move them to.

In the words of Judge Smails.... "The world needs ditch diggers too"
(This post was last modified: 11-17-2021 08:37 AM by Eldonabe.)
11-17-2021 08:36 AM
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scorpius Offline
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Post: #40
RE: MSNBC: Inflation a Good Thing
(11-12-2021 06:43 AM)miko33 Wrote:  In what world is having a concern over deflation the same as actually seeing deflation in the numbers? You cannot equate these 2 as being equivalent. Yes, there was a concern that we MIGHT slip into a period of deflation and therefore had a lax monetary policy with ultra low interest rates. That said, the YOY inflation numbers were still between 1% - 2%. The YOY inflation goal is around 2% - 2.5%. Deflation never actually happened and it was staved off with a low interest rate environment WITHOUT major gov't spending levels as proposed by the BBB and the "infrastructure +" bill (with some nastiness not related to infrastructure...).

All of the extreme stimulus spending the Biden admin proposes could do what you suggest IF there was sufficient supply of goods and services but the demand simply isn't there. We are not in that type of environment. We're in an environment where the demand is there, people are willing to spend their money and have been even before Biden's first bailout checks directly to the people. Unfortunately the supply of goods and services are not available in sufficient quantities to meet demand. Why is that? Some of this has to do with supply chain problems with China. Also, the vaccine mandates are causing workers to quit so that domestically we aren't providing the same goods and services (production and logistics). Also - specifically to hydrocarbons - there is zero incentive for oil and gas producers to produce more given the hostile environment the Biden admin has created over the future of most of our energy companies.

Given all of this, the grossly high inflation rates lead us to this conclusion: You do not inflate the money supply when the supply of goods and services have contracted.

I did not see this until now.

Inflation was below 0% for much of 2015. And has been well below the target 2% for well over a decade until this year. It will likely in my view revert back to this once the supply chain issues clear and we get through this oil price cycle. Here is what you're missing:

We're just getting through the worst world supply chain shock since probably WWII. This caused oil prices to effectively go negative last year. First time this has ever happened. This resulted in oil investment to halt. Once investment halts, it takes years for it to rebound, and thus explains why oil is in short supply now. This has a huge influence on inflation.

However, reality is the growing influence of technology on the supply chain is what has resulted in low inflation the past decade despite massive government deficits. Once supply chains clear up, we'll be right back in that environment, even more so since this pandemic has boosted the influence of technology.

I'd like to know what color the sky is in your world where simply catching up with the rest of the industrial world in infrastructure and government services (as provided in the infrastructure and BBB bills) is considered "extreme stimulus spending"?

If you're so worried about the deficit, then explain to me where Bush and Trump paid for their tax cut bills or unnecessary wars in Iraq and Afghanistan? Once you can explain that, then you MIGHT be able to complain about spending bills that simply catches us up with the rest of the world. But that complaining is only valid to the extent that it is "paid for" through a shell game that falls back on reversing unpaid for tax cuts from Republican administrations.
(This post was last modified: 11-18-2021 11:41 PM by scorpius.)
11-18-2021 11:34 PM
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