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Posted By: superbowldogg Economy/Inflation Threads - 05/30/23 12:27 AM
https://www.marketwatch.com/story/p...-might-not-matter-586912dd?mod=home-page

Memorial Day barbecue prices sizzle — the cost of one essential soars 28%

More Americans plan to have gatherings over the Memorial Day weekend, even though costs for some staples are rising.

Higher food prices will probably not deter Americans from getting together this weekend, with three out of four people planning to celebrate in some way. GETTY IMAGES/ISTOCKPHOTO

If you plan to barbecue this weekend, here’s some good news: You’ll get slightly more beef for your buck. However, unless you want to eat your burger plain, you’ll need to shell out more dough for condiments and buns.

A new study from data-analysis company Datasembly found that barbecue staples are more expensive than they were last year, with condiment prices leading the charge. The price of a 32-ounce bottle of ketchup has increased 28% since this time last year, going from $4.08 to $5.22, and a 20-ounce container of mustard has risen 13.04%, from $2.07 to $2.34.

What about the beef? Well, if you want ground beef for burgers, you’ll be paying a few pennies less per pound, on average, than you did last year. But if you want a steak, it will cost about 2.8% more than it did last year, according to the most recent data from the Bureau of Labor Statistics, which came out in April. Pork-chop prices were also down by a few pennies per pound, while the price of bone-in chicken rose by about 8 cents per pound.

But higher prices will probably not deter Americans from getting together this weekend. Three out of four people are are planning to celebrate in some way, data-analysis company Numerator found, a share that’s virtually unchanged from last year — although this year, more Americans are planning to attend or host parties.

Americans just want to have a good time this year, Timothy Malefyt, a professor at Fordham University’s Gabelli School of Business, told MarketWatch.

“People want to feel good again,” Malefyt said, adding that people want to distance themselves from their memories of the past few years living through the pandemic.

Last year, people were still “pulling out” of a pandemic mindset, but this year they want something “positive and celebratory,” he said. “There’s a sense of enchantment, wanting brands to deliver more, to look back to some of the traditions and times of getting people together. People want to feel good. They want to have a good time.”

But with more than three-quarters of consumers expecting higher prices for their Memorial Day staples, saving money will be a focus.

Up to 82% of consumers will be looking for ways to pinch pennies this weekend, according to Numerator data. They will searching out sale items, switching to store brands, shopping at dollar stores or buying smaller items.

For people hosting a Memorial Day barbecue on a budget, one tip is to take advantage of sales and of credit-card cash-back offers in the week before the holiday. There are some other good strategies as well, Lisa Thompson, a savings expert at Shopmium, an app for cash-back offers, told MarketWatch.

With meat usually the most expensive part of a barbecue, Thompson recommended stretching it out by making sliders, or smaller-sized burgers, instead of the usual one-third-pound patties. Making chicken or steak kebabs with vegetables is also more budget-friendly than serving whole portions of grilled meat.

And one final tip from Thompson: “Don’t shop hungry. It’s not just a cliche — people really do spend more when they’re shopping hungry. Even on nonfood items.”
Posted By: EveDawg Re: Economy/Inflation Threads - 05/30/23 12:40 AM
I bought some frozen uncooked de-shelled large shrimp on sale today. 2 lb bag for 13 bucks. I thought that was pretty good.

I went to two restaurants this weekend for dinner. Both trendy, both usually packed. Both were pretty empty. Its cheaper to cook at home any more. Even with high grocery prices.

Restaurants gotta be struggling. High food prices. And customers staying home.
Posted By: PitDAWG Re: Economy/Inflation Threads - 05/30/23 02:44 PM
US inflation falls to lowest level since May 2021

Prices are moving in a more palatable direction for US consumers.

Annual inflation, as measured by the Consumer Price Index, dropped in March for the ninth consecutive month. And for the first time since September 2020, grocery prices fell on a monthly basis.

Prices rose 5% for the 12 months ended in March, down from 6% in February, the Bureau of Labor Statistics reported Wednesday. Annual CPI plunged to its lowest rate since May 2021, helped by year-over-year comparisons to a period when food and energy prices spiked amid Russia’s invasion of Ukraine.

Still, CPI showed some cooling on a monthly basis. The index, which measures price changes over time for a basket of goods, ticked up 0.1% from February, as compared to a previous 0.4% increase.

Shelter costs, which tend to reflect lagging data, were the largest contributor of the monthly gain, offsetting sharp declines across energy categories, according to the BLS.

The food at home index dropped 0.3% for the month, helped by lower prices for eggs (which fell nearly 11%) and fruits and vegetables (which declined 1.3%). The broader food category was unchanged (0%) for the first time since November 2020.

Economists were expecting an annual increase of 5.2% and a monthly gain of 0.2%, according to Refinitiv.

“It’s a good print, but it’s not the end of the game, it’s not the end of the story,” Erik Lundh, principal economist at the Conference Board, told CNN. “There’s more to come — hopefully, knock on wood — and we’re heading in the right direction.”

Stripping out the often-volatile components of food and energy, core CPI grew 0.4% for the month, resulting in a 5.6% annual growth rate. In February, core CPI accelerated 0.5% month on month and 5.5% year over year.

“On the surface, price pressures are lessening. But when the box is opened, [core inflation] accelerated to the highest rate since May 2021,” economist Sung Won Sohn, president of SS Economics and Loyola Marymount University professor, said in a statement. “This is well over the 2% target set by the central bank.”

He added: “More hikes in the interest rate are coming.”

CPI is one of the major inflation gauges that’s being watched like a hawk by the Federal Reserve, which is in the throes of a yearlong campaign to battle inflation through monetary tightening and stark interest rate hikes.

Base effects in play

The 1 percentage point drop in headline CPI is the largest downward swing seen in more than eight years; however, that feat was accomplished largely due to last year’s inflation spike.

“Inflation really started to take off last spring and through June,” Mark Zandi, chief economist of Moody’s Analytics, told CNN. “And so things are going to feel a lot better here in the next few months because of those base effects.”

Because month-to-month changes can be volatile, even in spite of seasonal adjustments, year-over-year comparisons typically can help smooth out some of that jumpiness.

But times have been anything but typical for the past three years. So, for the months ahead, moving averages become all the more critical to observe, Lundh said.

While the picture is more clear for the trajectory of headline CPI, it’s a little more opaque for core and “supercore” activity (core services, excluding housing), Zandi said.

The base effects are much less pronounced for core CPI, because the spring and summer inflation spike was driven by food, energy and goods prices.

“Core inflation is remaining more persistent,” he said. “I expect improvement really toward the middle and second half of the year when the cost of housing services really begins to slow.”

Shelter costs, as measured in the CPI, tend to lag more than other categories as the BLS collects rent data every six months and most rents don’t change too frequently. Private-sector data shows that apartment rents have fallen in recent months, suggesting an eventual cooldown in shelter prices will show up in the CPI.

Stripping out housing, however, still leaves a “supercore” inflation measurement that has remained stubbornly high.

“Supercore correlates with wages; thus, the Fed would be looking at some relief in this metric as a sign of slower wage gains,” Gary Pzegeo, head of fixed income at CIBC Private Wealth US, said in a statement. “Today’s report shows the supercore decelerated in March, but it remains a sticky component of inflation, running around +4% annualized on a three- and six-month basis.”

“This is too fast and a sign that the labor market remains offsides,” he added.

More Fed rate hikes still on the horizon

The March CPI trajectory doesn’t take another rate hike off the table, Lundh said.

“There was some encouraging news in the inflation data today, but I don’t think it’s sufficient to cause the Fed to pause,” he said. “So we’re expecting to see a [quarter-point] hike in the May meeting and even potentially another hike following that.”

The Fed’s fight grew more complex in March with the collapse of two regional US banks, which then caused turmoil in the financial industry. The Fed, the Treasury Department and the Federal Deposit Insurance Corporation stepped in to shore up depositors and prevent future bank runs.

However, there are expectations that the turmoil could mean future credit tightening, which in turn could dampen demand and even help the Fed in its inflation-fighting goals. However, it could also create more uncertainty about a future recession.

“The CPI is backwards looking and the Fed still has to consider how much of a credit crunch to factor into the economy,” said Gina Bolvin, president of Bolvin Wealth Management, in a statement.

While inflation has moderated since reaching a decades-high level last summer, the pace has been slower than anticipated as a strong labor labor market and resilient consumer spending has continued to fuel economic growth.

https://www.mercurynews.com/2023/04/12/us-inflation-falls-to-lowest-level-since-may-2021/
Posted By: FATE Re: Economy/Inflation Threads - 05/30/23 03:03 PM
Bread was 2.59, now its $5...

And everything else we consume on a regular basis has pretty much followed suit. I will have a hard time getting excited about bread at $4.75.
Posted By: PitDAWG Re: Economy/Inflation Threads - 05/30/23 03:06 PM
Yes, showing it's headed back in the right direction is terrible news!
Posted By: FATE Re: Economy/Inflation Threads - 05/30/23 03:18 PM
Noooobody said that. Just stating the facts and the way I feel about them. Not even placing blame.

It's heading "in the right direction" to a place it will never reach. The biggest footnote to the pandemic is that it was also "The Great Reset".
Posted By: PitDAWG Re: Economy/Inflation Threads - 05/30/23 03:46 PM
What do you mean by "a place it will never reach"?
Posted By: FATE Re: Economy/Inflation Threads - 05/30/23 04:15 PM
I mean we'll never go back to pre-pandemic prices with most things we 'consume'.

I've spent my life in 'food'. I've seen plenty of resets on the wholesale market. I've never seen so many, from beginning to end of the supply chain. Manufacturing, shipping, brokers, middlemen, suppliers, wholesale customers... and finally to the retail market. Everyone along the way makes every imaginable excuse to bilk the next level. We'll see a slow recovery, but never to the prices we were used to. Really, our only hope is fresh competition. But since nearly every market is controlled at the top by huge conglomerates, even that proposition is not a given.
Posted By: PitDAWG Re: Economy/Inflation Threads - 05/30/23 04:26 PM
I've never seen anything do that. I've never seen prices go back to what they "used to be". I've seen it with past inflation periods. The costs go up but when inflation slows to a crawl they never go back down. I've seen it when it surrounds fuel prices. "Well we have to raise our prices because fuel costs have gotten so high." Then when fuel costs go back down, the prices never do. I'm not sure if we agree this is a typical situation under such circumstances, because in my lifetime my observations say it is. But we certainly agree that prices will never go back to being as low as they were before the surge in inflation. They never have and I don't suspect this will be any different.
Posted By: FATE Re: Economy/Inflation Threads - 05/30/23 05:24 PM
I'm speaking beyond the regular curve of ever-increasing prices. So, when I say "return", I mean somewhere in the general neighborhood with an understood 'baked-in', logical increase. A normal, expected curve will always be there.

I'm not going to dig for graphs, it's obvious that this round of "inflation" was among the worst in our history. If you were to look at a ten year history, 2020 thru 2023 would jump off the page. That said, I've seen the cost of many (actually most) food goods just meander in the same price range for a decade or more. Sticking with food, and from the historical restaurant perspective... when something is out of wack in the beef market, we tell you to eat pasta by raising the price of beef... we feature chicken on special and seasonal menus. Pretty soon, like clockwork, beef prices would return to just about the same price. This time is different, because there are no options -- everything is through the roof. That's why I call it "The Great Reset".

Then we have the fact that the philosophy of 'sales' has changed drastically. Everything used to be based on cost plus... now it's based on the extreme of what the market will bear. Cheez-Its will push and push until sales suffer and then take the edge off to make the consumer think they're saving money lol.

Still have plenty of friends in the restaurant biz... their new pricing philosophy is "they're paying it, screw 'em". It's a no-win for the consumer because grocery stores are doing the same thing. Lack of options is the enemy right now in most categories... that's why we need some fresh competition that will look at the (seemingly archaic) notion of a fair profit margin in order to help flatten out this curve to a reasonable level.

Just my two cents.
Posted By: mgh888 Re: Economy/Inflation Threads - 05/30/23 06:17 PM
I think you are 100% spot on. After there was a bit of a recovery my experience was that companies - supply/manufacturing side and wholesale channels and then contractors/subs -- all tried to make up for 2 /12 years of pain in as little time as possible. Prices and margins were through the roof -not only because of supply and demand but because of companies wanting their pound of flesh to recover from the painful market collapse through covid. Having done that those companies all seem loathe to go back to the same margins they were operating at (profitably) pre-covid.

In some ways it is a similar dynamic that we see in the work force - pre-pandemic the "rat race" was alive and well. Working long hours, doing what was perceived as necessary to get on or simply keep a job. . . . It seems that the attitude of many workers thru covid was to revaluate priorities - look at how little loyalty companies showed long tenured employees and decide that there is more to life than what your middle management boss with a chitty attitude and zero empathy wants you to do. Government subsidies no-doubt helped with that thought process ... but I think it's one of the reasons (for example) cooks, servers and wait staff in the restaurant industry are by and large all earning a base much, much higher than pre-pandemic. . . . Maybe the two situations are not that close, just me talking out loud and offering an opinion here.
Posted By: FATE Re: Economy/Inflation Threads - 05/30/23 06:40 PM
Yep. And all those turning the profit wheel in the chain are going to ride this curve back down as sloooowly as possible.

As to the second paragraph, you hit the nail on the head. I think one of the things in that equation that goes understated is the part that has created the perfect storm -- "boomers". So many of these people were filling all the 'gaps' in the employment structure; and they were a very important part. A cannot count the amount of people that worked part time... "for something to do, for extra spending money, to be a part of something, etc, etc...", and are now officially 'retired'.

When those people checked out, they did it almost immediately. Combined fear of the virus and perspective (let's be honest, they of all people saw "life is too short" hit home) had them wash their hands of the whole thing and take a new look at what life should be down the stretch. In my industry, those were the people covering shifts when someone was sick, going above and beyond when situation dictated. "I know it's prom week, so I made sure to make no plans, use me wherever you need me".

If you peel back another important layer -- not to be too political, but those are the people that grew up with a sense of loyalty and had a certain respect for a "hard day's work". They smiled through it with a sense of pride of accomplishment that is sorely lacking with the youth that is filling those spots.
Posted By: PitDAWG Re: Economy/Inflation Threads - 05/31/23 02:45 PM
I agree that inflation is still bad and after the pandemic is was bad on a historic level depending on how far back in history you go. For some of us the 1980's economy isn't all that long ago. I was in my 20's with a young family during that time. So I do have a reference point for what bad economic times look like. And yes, this time does look different. Large profit margins could also be referred to as greed. I mean, I guess depending on your perspective. I've certainly never underestimated the role that greed plays in our economy.
Posted By: OldColdDawg Re: Economy/Inflation Threads - 05/31/23 06:55 PM
Originally Posted by PitDAWG
Yes, showing it's headed back in the right direction is terrible news!

But it doesn’t fit the hate filled anti Biden agenda… Just like McCarthy saying how well Biden dealt with his shenanigans and handed him his ass in negotiations. while claiming a win. You can’t make that crap up.

I’m mad that Biden negotiated with these brainless domestic terrorists, even the negotiation was a step too far for me. But at least he didn’t give them anything he wasn’t already planning to do. And he insured McCarthy would keep his job in how he handled it… Brilliant for what it was. Disgusting at the same time.
Posted By: OldColdDawg Re: Economy/Inflation Threads - 05/31/23 07:01 PM
Originally Posted by FATE
I mean we'll never go back to pre-pandemic prices with most things we 'consume'.

I've spent my life in 'food'. I've seen plenty of resets on the wholesale market. I've never seen so many, from beginning to end of the supply chain. Manufacturing, shipping, brokers, middlemen, suppliers, wholesale customers... and finally to the retail market. Everyone along the way makes every imaginable excuse to bilk the next level. We'll see a slow recovery, but never to the prices we were used to. Really, our only hope is fresh competition. But since nearly every market is controlled at the top by huge conglomerates, even that proposition is not a given.

That’s not on Biden. It’s not on anything but unbridled capitalism. This is why you need strong leaders that will put big money in check. Any candidate that is not people first should get the boot. Social safety net policies are absolutely needed to fix this, then watch ‘sensible’ make a return to the American lexicon.
Posted By: PitDAWG Re: Economy/Inflation Threads - 05/31/23 07:30 PM
Nobody "won" in the budget negotiations. That's what compromise means. The way I see it without having looked closely at the deal, is that both the far left and the far right don't like the deal. That's when I know the government is working. Catering to either extreme while ignoring the majority of the nation isn't good for anyone. The "If I can't have it all the way I want I hate it" crowd is killing this country.
Posted By: OldColdDawg Re: Economy/Inflation Threads - 05/31/23 07:38 PM
Centrist BS letting the country get dragged to the far right instead of having a spine created this mess. Stop your revisionist history. Pfft.
Posted By: PitDAWG Re: Economy/Inflation Threads - 05/31/23 07:42 PM
There's more of us than there are of you. Stop pretending your actually woke.
Posted By: OldColdDawg Re: Economy/Inflation Threads - 05/31/23 07:48 PM
Sure there are. That’s hard for you to calculate from your middle safe space. Gen Z is progressive as hell, not centrist. But, you can do like republicans and deny truth all you want. Getting the do nothing centrists and ancient politicians out of government would be the best move this country could make beyond destroying MAGA.
Posted By: PitDAWG Re: Economy/Inflation Threads - 05/31/23 08:13 PM
Gen Z represents only 20% of the population. As with each generation, as people grow older their priorities change. And so does the way they vote. Many of the people I knew in school who were quite liberal when they were young, no longer are. For some reason you seem to think that people's priorities and opinions don't change over time. In fact they do. Just wait until they want to buy a nice home and provide a good living for their families. Over time many of them will be no different than the generations before them. They will put the values of what they think will promote their own goals and wishes for their families over the betterment of others. I mean if you stand up for helping those with less than you, that's less for you and yours, right?

Technology changes, fashion changes and mankind moves forward in many ways. But the way the human mind works is consistent. Gen Z didn't come up with some new concept about young people giving a damn.
Posted By: Ballpeen Re: Economy/Inflation Threads - 06/01/23 11:24 AM
As people mature, they generally get smarter. At least that is the way it is supposed to work.
Posted By: mgh888 Re: Economy/Inflation Threads - 06/01/23 12:29 PM
So what's your damn excuse? grin
Posted By: PitDAWG Re: Economy/Inflation Threads - 06/01/23 03:23 PM
Or in many cases simply more cynical.
Posted By: superbowldogg Re: Economy/Inflation Threads - 06/01/23 04:29 PM
Posted By: PitDAWG Re: Economy/Inflation Threads - 06/01/23 04:32 PM
rofl
Posted By: superbowldogg Re: Economy/Inflation Threads - 06/01/23 04:44 PM


Posted By: PitDAWG Re: Economy/Inflation Threads - 06/01/23 04:49 PM
So it was Republicans saying higher wages would fuel inflation and now that it has been found that wasn't the case they claim some sort of victory? Imagine that. I suppose all of those new jobs that were created are false too?
Posted By: superbowldogg Re: Economy/Inflation Threads - 06/01/23 04:58 PM
Originally Posted by PitDAWG
So it was Republicans saying higher wages would fuel inflation and now that it has been found that wasn't the case they claim some sort of victory? Imagine that. I suppose all of those new jobs that were created are false too?

Read it again?

The Fed hiked rates aggressively to stop inflation.

What was the main cause of inflation?

Jerome Powell said it was wage inflation & a hot labor market.

Well, the government just admitted their numbers were wrong
Posted By: PitDAWG Re: Economy/Inflation Threads - 06/01/23 05:02 PM
The Republicans said the same thing. So I guess they were both wrong. We've heard on this board for years now that the reason we can't raise wages is because inflation will run rampant. So it seems no matter which party runs our government, when it comes to this topic they're both wrong. But then again I've been saying that the entire time.
Posted By: mgh888 Re: Economy/Inflation Threads - 06/01/23 06:14 PM
Originally Posted by superbowldogg
Originally Posted by PitDAWG
So it was Republicans saying higher wages would fuel inflation and now that it has been found that wasn't the case they claim some sort of victory? Imagine that. I suppose all of those new jobs that were created are false too?

Read it again?

The Fed hiked rates aggressively to stop inflation.

What was the main cause of inflation?

Jerome Powell said it was wage inflation & a hot labor market.

Well, the government just admitted their numbers were wrong

Any chance that these revisions are routine and ALWAYS get updated?>? I would think that's a STRONG possibility.

Funny to see a Right Wing HAck talk about the job numbers being massaged. For 8 years (nearly) under Obama we heard how the unemployment numbers weren't real - they were fake and massaged. Despite them being calculated the same way for generations.... Guess what when it was Trump's economy those same numbers (and methodology) was used to preach about how awesome trump was for the economy/employment. . . . What a joke.
Posted By: superbowldogg Re: Economy/Inflation Threads - 06/01/23 09:11 PM
Originally Posted by PitDAWG
The Republicans said the same thing. So I guess they were both wrong. We've heard on this board for years now that the reason we can't raise wages is because inflation will run rampant. So it seems no matter which party runs our government, when it comes to this topic they're both wrong. But then again I've been saying that the entire time.

this might be the most misguided/without-context comment that I have seen on this board in years.

We need like 45 community notes added to your comment.
Posted By: superbowldogg Re: Economy/Inflation Threads - 06/01/23 09:47 PM
Originally Posted by PitDAWG
The Republicans said the same thing. So I guess they were both wrong. We've heard on this board for years now that the reason we can't raise wages is because inflation will run rampant. So it seems no matter which party runs our government, when it comes to this topic they're both wrong. But then again I've been saying that the entire time.


Some Community Notes:


1 Inflation has run rampant.
2. the repubicans didn't want interest rates
3. the dems wanted to raise hourly pay rates
4. the cost of goods on products or services has gone up about 10% or more https://thehill.com/homenews/nexsta...23-these-5-graphs-show-prices-skyrocket/
5. gas prices for regular gasoline stands at $3.47 a gallon in May of 2023. in May of 2021 they were 2.85 in 2020 they were $1.81 https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=pet&s=emm_epmru_pte_soh_dpg&f=m
6. people can afford less than they could a year ago
7. https://www.cnn.com/2023/05/26/economy/pce-inflation-fed-april/index.html
The Personal Consumption Expenditures price index rose 4.4% for the 12 months ended in April, up from a 4.2% increase seen in March, according to data released Friday by the Commerce Department. Rising energy prices (up 0.7% month on month) helped push up the headline PCE index; prices for goods and services increased 0.3% and 0.4%, respectively, while food prices showed a very slight decrease.
8. Inflation rate is at 4.9% https://www.theguardian.com/business/2023/may/10/us-inflation-rate-april-2023 compared to last year.
Posted By: PerfectSpiral Re: Economy/Inflation Threads - 06/01/23 10:04 PM
Quote
2. the repubicans didn't want interest rates

Please explain.
Posted By: superbowldogg Re: Economy/Inflation Threads - 06/01/23 10:30 PM
Originally Posted by PerfectSpiral
Quote
2. the repubicans didn't want interest rates

Please explain.

whoops! my bad.

*They didn't want to increase interest rates.
Posted By: mgh888 Re: Economy/Inflation Threads - 06/02/23 12:34 AM
Originally Posted by superbowldogg
Originally Posted by PitDAWG
The Republicans said the same thing. So I guess they were both wrong. We've heard on this board for years now that the reason we can't raise wages is because inflation will run rampant. So it seems no matter which party runs our government, when it comes to this topic they're both wrong. But then again I've been saying that the entire time.


Some Community Notes:


1 Inflation has run rampant.
2. the repubicans didn't want interest rates
3. the dems wanted to raise hourly pay rates
4. the cost of goods on products or services has gone up about 10% or more https://thehill.com/homenews/nexsta...23-these-5-graphs-show-prices-skyrocket/
5. gas prices for regular gasoline stands at $3.47 a gallon in May of 2023. in May of 2021 they were 2.85 in 2020 they were $1.81 https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=pet&s=emm_epmru_pte_soh_dpg&f=m
6. people can afford less than they could a year ago
7. https://www.cnn.com/2023/05/26/economy/pce-inflation-fed-april/index.html
The Personal Consumption Expenditures price index rose 4.4% for the 12 months ended in April, up from a 4.2% increase seen in March, according to data released Friday by the Commerce Department. Rising energy prices (up 0.7% month on month) helped push up the headline PCE index; prices for goods and services increased 0.3% and 0.4%, respectively, while food prices showed a very slight decrease.
8. Inflation rate is at 4.9% https://www.theguardian.com/business/2023/may/10/us-inflation-rate-april-2023 compared to last year.

Everything is relative. How are we performing vs the rest of the first world industrialized nations on the planet??? What's that you say??? They are ALL suffering from rampant inflation - Gosh. Did Biden do all of it? He's more influential than I thought huh. And in relation to the other 1st world nations our inflation is still rampant while theirs is under control - THAT'S Bidens fault maybe??? Oh -- What's that you say?? The US is outperforming the others in terms of speed of recovery !! Gosh..... So what is it that you are saying? Biden is doing a good job?? Is that your point. Well made sir.
Posted By: Ballpeen Re: Economy/Inflation Threads - 06/02/23 02:01 AM
Our economy leads the world economy. What happens here spreads.
Posted By: superbowldogg Re: Economy/Inflation Threads - 06/02/23 02:22 AM
Originally Posted by mgh888
Originally Posted by superbowldogg
Originally Posted by PitDAWG
The Republicans said the same thing. So I guess they were both wrong. We've heard on this board for years now that the reason we can't raise wages is because inflation will run rampant. So it seems no matter which party runs our government, when it comes to this topic they're both wrong. But then again I've been saying that the entire time.


Some Community Notes:


1 Inflation has run rampant.
2. the repubicans didn't want interest rates
3. the dems wanted to raise hourly pay rates
4. the cost of goods on products or services has gone up about 10% or more https://thehill.com/homenews/nexsta...23-these-5-graphs-show-prices-skyrocket/
5. gas prices for regular gasoline stands at $3.47 a gallon in May of 2023. in May of 2021 they were 2.85 in 2020 they were $1.81 https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=pet&s=emm_epmru_pte_soh_dpg&f=m
6. people can afford less than they could a year ago
7. https://www.cnn.com/2023/05/26/economy/pce-inflation-fed-april/index.html
The Personal Consumption Expenditures price index rose 4.4% for the 12 months ended in April, up from a 4.2% increase seen in March, according to data released Friday by the Commerce Department. Rising energy prices (up 0.7% month on month) helped push up the headline PCE index; prices for goods and services increased 0.3% and 0.4%, respectively, while food prices showed a very slight decrease.
8. Inflation rate is at 4.9% https://www.theguardian.com/business/2023/may/10/us-inflation-rate-april-2023 compared to last year.

Everything is relative. How are we performing vs the rest of the first world industrialized nations on the planet??? What's that you say??? They are ALL suffering from rampant inflation - Gosh. Did Biden do all of it? He's more influential than I thought huh. And in relation to the other 1st world nations our inflation is still rampant while theirs is under control - THAT'S Bidens fault maybe??? Oh -- What's that you say?? The US is outperforming the others in terms of speed of recovery !! Gosh..... So what is it that you are saying? Biden is doing a good job?? Is that your point. Well made sir.

Biden has nothing to do with how to handle inflation. Nor does any president. That is handled by the feds. So, don't give or take credit away from Biden. He did nothing.

Everone is bashing Powell because they messed up the data.

Lastly, the USA leads the world economy
Posted By: PerfectSpiral Re: Economy/Inflation Threads - 06/02/23 02:31 AM
Originally Posted by superbowldogg
Originally Posted by PerfectSpiral
Quote
2. the repubicans didn't want interest rates

Please explain.

whoops! my bad.

*They didn't want to increase interest rates.

Ahhh … so everyone else did. Pfft.
Posted By: PerfectSpiral Re: Economy/Inflation Threads - 06/02/23 02:32 AM
Originally Posted by Ballpeen
Our economy leads the world economy. What happens here spreads.

Including stormey D
Posted By: archbolddawg Re: Economy/Inflation Threads - 06/02/23 03:04 AM
Odd you say that. When the WORLD was suffering from covid, you know, the brand new virus, Trump was blamed for his handling of it. By the lefties, even though the scientists and doctors didn't know what to do.

Every nation was suffering - other than China, where it came from.

But now, inflation is not Biden's fault, "cause the rest of the world is suffering from it also". Can't make this crap up.
Posted By: Squires Re: Economy/Inflation Threads - 06/02/23 03:34 AM
Originally Posted by archbolddawg
Odd you say that. When the WORLD was suffering from covid, you know, the brand new virus, Trump was blamed for his handling of it. By the lefties, even though the scientists and doctors didn't know what to do.

Every nation was suffering - other than China, where it came from.

But now, inflation is not Biden's fault, "cause the rest of the world is suffering from it also". Can't make this crap up.


Just more liberal double standards. When something bad happens and a republican is president, it's 100% their fault. When a democrat is president, then suddenly the president has no control over anything.
Posted By: mgh888 Re: Economy/Inflation Threads - 06/02/23 11:10 AM
Originally Posted by archbolddawg
Odd you say that. When the WORLD was suffering from covid, you know, the brand new virus, Trump was blamed for his handling of it. By the lefties, even though the scientists and doctors didn't know what to do.

Every nation was suffering - other than China, where it came from.

But now, inflation is not Biden's fault, "cause the rest of the world is suffering from it also". Can't make this crap up.

Trump didn't create Covid - his handling of Covid was awful. You only have to look at how inconsistent it was, what he knew at the time he told the world it would disappear with the warm weather - or that maybe bleach was the answer. Trump's response to Covid was pitiful then and it is today.

Inflation is most definitely not Biden's fault. How his administration reacts to it is part of how he gets judged. My post was pretty tongue in check - sorry if that didn't come across.

Both Biden and Trump - when faced with a global issue that is being dealt with by (virtually) all other industrialized Nations will absolutely be judged in comparison to how the USA performs vs the RoTW. Just look at Obama and his spending initiatives to get the US out of recession after the financial collapse. Many didn't like it but it brought the USA out of recession 3 years early compared to many/most other first world countries.
Posted By: PerfectSpiral Re: Economy/Inflation Threads - 06/02/23 01:25 PM
True, it’s on the current president what’s going on in the world. So let’s add it up. Trump killed millions by his piss poor handling of the pandemic. While the post pandemic inflation is all on Biden. Yep it's all equal. Lol
Posted By: superbowldogg Re: Economy/Inflation Threads - 06/02/23 02:00 PM
Originally Posted by PerfectSpiral
True, it’s on the current president what’s going on in the world. So let’s add it up. Trump killed millions by his piss poor handling of the pandemic. While the post pandemic inflation is all on Biden. Yep it's all equal. Lol

do you really think Biden is doing anything?

He's out there tripping and falling over everything.
Posted By: PerfectSpiral Re: Economy/Inflation Threads - 06/02/23 02:03 PM
Originally Posted by superbowldogg
Originally Posted by PerfectSpiral
True, it’s on the current president what’s going on in the world. So let’s add it up. Trump killed millions by his piss poor handling of the pandemic. While the post pandemic inflation is all on Biden. Yep it's all equal. Lol

do you really think Biden is doing anything?

He's out there tripping and falling over everything.
Ok so there was a lot left for him to trip and fall over. Your point?
Posted By: mgh888 Re: Economy/Inflation Threads - 06/02/23 02:03 PM
Originally Posted by Squires
Just more liberal double standards. When something bad happens and a republican is president, it's 100% their fault. When a democrat is president, then suddenly the president has no control over anything.

Is that what they call gaslighting? Or is that a strawman argument? Because no-one on this thread said that.... but there you go. You said it so it must be true.
Posted By: FATE Re: Economy/Inflation Threads - 06/02/23 02:33 PM
Originally Posted by mgh888
Originally Posted by Squires
Just more liberal double standards. When something bad happens and a republican is president, it's 100% their fault. When a democrat is president, then suddenly the president has no control over anything.

Is that what they call gaslighting? Or is that a strawman argument? Because no-one on this thread said that.... but there you go. You said it so it must be true.

Oh, pleeeease. That has been the message here since this place started. rofl I've never read a criticism of Biden from your clan. If he killed someone in the street, there would still be a "but Trump".
Posted By: PitDAWG Re: Economy/Inflation Threads - 06/02/23 02:37 PM
Payrolls rose 339,000 in May, much better than expected in resilient labor market

The U.S. economy continued to crank out jobs in May, with nonfarm payrolls surging more than expected despite multiple headwinds, the Labor Department reported Friday.

Payrolls in the public and private sector increased by 339,000 for the month, better than the 190,000 Dow Jones estimate and marking the 29th straight month of positive job growth.

The unemployment rate rose to 3.7% in May against the estimate for 3.5%, even though the labor force participation rate was unchanged. The jobless rate was the highest since October 2022, though still near the lowest since 1969.

Average hourly earnings, a key inflation indicator, rose 0.3% for the month, which was in line with expectations. On an annual basis, wages increased 4.3%, which was 0.1 percentage point below the estimate. The average workweek fell by 0.1 hour to 34.3 hours.

Markets reacted positively after the report, with the Dow Jones Industrial Average up more than 400 points in early trading. Treasury yields rose as well as markets digested both the strong jobs numbers and a debt deal in Congress.

“The U.S. labor market continues to demonstrate grit amid chaos – from inflation to high-profile layoffs and rising gas prices,” said Becky Frankiewicz, president and chief commercial officer of Manpower Group. “With 339,000 job openings, we’re still rewriting the rule book and the U.S. labor market continues to defy historical definitions.”

May’s hiring jump was almost exactly in line with the 12-month average of 341,000 in a job market that has held up remarkably well in an economy that has been slowing.

Professional and business services led job creation for the month with a net 64,000 new hires. Government helped boost the numbers with an addition of 56,000 jobs, while health care contributed 52,000.

Other notable gainers included leisure and hospitality (48,000), construction (25,000), and transportation and warehousing (24,000).

Despite the big jobs gain, the unemployment rate increased due in large part to a sharp decline of 369,000 in self-employment. That was part of an overall drop of 310,000 counted as employed in the household survey, which is used to calculate the unemployment rate and generally is considered more volatile than the survey of establishments used for the headline payrolls number.

“The upshot is that the only genuine sign of weakness in the report was the decline in average weekly hours worked to 34.3, from 34.4, which left them at the lowest level since the Covid nadir in April 2020,” wrote Paul Ashworth, chief North America economist for Capital Economics.

An alternative measure of unemployment that encompasses discouraged workers and those holding part-time jobs for economic reasons edged higher to 6.7%.

May’s jobs numbers come amid a challenging time for the economy, with many experts still expecting a recession later this year or early in 2024.

Recent data has shown that consumers continue to spend, though they are dipping into savings and increasingly using credit cards to pay for their purchases. A resilient labor market also has helped underpin spending, with job openings rising back above 10 million in April as employers still find it difficult to fill open positions.

One major potential headache appears to have been eliminated, as warring factions in Washington this week have reached a debt ceiling deal. The agreement is on its way to President Joe Biden’s desk for a signature following passage in the House and Senate this week.

There remain other issues ahead, though.

The Federal Reserve has raised benchmark interest rates 10 times since March 2022 in an effort to fight inflation that hasn’t gone away. In recent days, some policymakers have indicated a willingness to take a break in June from the succession of hikes as they look to see what impact the policy tightening is having on the economy.

However, odds for a June rate hike rose after the jobs report. Traders briefly priced in about a 38% chance of another quarter-point increase before the probability fell back to about 26%, according to CME Group data.

Other data points have shown that the manufacturing sector of the economy is in contraction, though the much larger services sector has held in expansion. The ISM manufacturing index released Thursday also showed that prices are pulling back, a positive sign for the Fed.

https://www.cnbc.com/2023/06/02/jobs-report-may-2023-.html

Now back to your regularly scheduled everything has gone to hell programming. The same thing we've been hearing about how the economy is collapsing for over a year now.
Posted By: PitDAWG Re: Economy/Inflation Threads - 06/02/23 02:39 PM
Originally Posted by FATE
Oh, pleeeease. That has been the message here since this place started. rofl I've never read a criticism of Biden from your clan. If he killed someone in the street, there would still be a "but Trump".

Wrong guy.....

Donald Trump: 'I Could ... Shoot Somebody, And I Wouldn't Lose Any Voters'
Posted By: PerfectSpiral Re: Economy/Inflation Threads - 06/02/23 02:43 PM
Originally Posted by mgh888
Originally Posted by Squires
Just more liberal double standards. When something bad happens and a republican is president, it's 100% their fault. When a democrat is president, then suddenly the president has no control over anything.

Is that what they call gaslighting? Or is that a strawman argument? Because no-one on this thread said that.... but there you go. You said it so it must be true.

The trump brigade and their double standards.. LOL

Goper’s can’t say they had a great republican president that handed over a growing economy to a bumbling democrat fool that has filed multiple bankruptcies and ends his presidency basically causing the death of millions of people during the world’s worst pandemic while refusing to concede and fueling a violent insurrection on our nations capitol.
Posted By: superbowldogg Re: Economy/Inflation Threads - 06/02/23 03:41 PM
Originally Posted by PerfectSpiral
Originally Posted by superbowldogg
Originally Posted by PerfectSpiral
True, it’s on the current president what’s going on in the world. So let’s add it up. Trump killed millions by his piss poor handling of the pandemic. While the post pandemic inflation is all on Biden. Yep it's all equal. Lol

do you really think Biden is doing anything?

He's out there tripping and falling over everything.
Ok so there was a lot left for him to trip and fall over. Your point?

This guy cannot continue to run our country.

Posted By: PitDAWG Re: Economy/Inflation Threads - 06/02/23 04:20 PM
The depths one is willing to sink to is on full display. It's either Biden or a man who tried to have our elections overturned and kill our election process. Stop acting like one choice is better than the other one. it's not. May god have mercy on our souls.
Posted By: mgh888 Re: Economy/Inflation Threads - 06/02/23 04:20 PM
Originally Posted by FATE
Originally Posted by mgh888
Originally Posted by Squires
Just more liberal double standards. When something bad happens and a republican is president, it's 100% their fault. When a democrat is president, then suddenly the president has no control over anything.

Is that what they call gaslighting? Or is that a strawman argument? Because no-one on this thread said that.... but there you go. You said it so it must be true.

Oh, pleeeease. That has been the message here since this place started. rofl I've never read a criticism of Biden from your clan. If he killed someone in the street, there would still be a "but Trump".

So you want to argue a point that you think people made instead of what's actually written on this thread? You know - if a certain other poster with the initials P, I and T in their name made such a post, he'd be accused of so many things I can't count them all on two hands.

As for criticism of Biden - what did you want to discuss specifically. Because I think I recall a whole bunch of folks criticizing his administration for the way we exited Afghanistan. ** Edit and to add - the decision to leave was made by his predecessor, the actual handling of the process was Biden's administration and even if he took advise from the military leaders he stills owns what happened on his watch. I also think his administration was late to recognize inflation and kept down playing it when earlier action would have helped. He - Like Trump - also used/continued to use Covid to prop up border policy when I don't believe it was a good solution - just a convenient one. .... I'm sure there is more.
Posted By: FATE Re: Economy/Inflation Threads - 06/02/23 07:05 PM
rofl Aweee... poor, poor Pit. Everybody always picking on him. Bunch of bullies!

I don't wish to discuss anything about Biden. I've retired from that carousel of "whatabouts" and "nuh-uhs". His record speaks for itself. thumbsup
Posted By: PitDAWG Re: Economy/Inflation Threads - 06/02/23 07:26 PM
I just point out the stupidity. I've learned to accept it. Nothing anyone posts on here offends me. I could care less what you and your ilk think. "He fell down so he can't be president" is a pretty stupid thing to post. Sorry it bothers you when I make that clear. Of course you missed the part where I made it pretty clear that neither choice is a good one. I would expect no less so you didn't disappoint.
Posted By: FATE Re: Economy/Inflation Threads - 06/02/23 08:28 PM
None of anything I posted had to do with the poor sap falling and struggling with walking, so I'm not sure how it "bothered me".

[Linked Image from images.squarespace-cdn.com]
Posted By: PitDAWG Re: Economy/Inflation Threads - 06/02/23 08:32 PM
Then I have no idea what the hell you are talking about. But hey, you gotta GIF! rofl

You still never disappoint.
Posted By: Ballpeen Re: Economy/Inflation Threads - 06/02/23 09:59 PM
That's funny...lol
Posted By: Ballpeen Re: Economy/Inflation Threads - 06/02/23 10:01 PM
Originally Posted by FATE
rofl Aweee... poor, poor Pit. Everybody always picking on him. Bunch of bullies!

I don't wish to discuss anything about Biden. I've retired from that carousel of "whatabouts" and "nuh-uhs". His record speaks for itself. thumbsup

Really. You might as well just laugh. It makes life better.
Posted By: mgh888 Re: Economy/Inflation Threads - 06/02/23 10:23 PM
Originally Posted by FATE
rofl Aweee... poor, poor Pit. Everybody always picking on him. Bunch of bullies!

I don't wish to discuss anything about Biden. I've retired from that carousel of "whatabouts" and "nuh-uhs". His record speaks for itself. thumbsup

No - it wasn't poor pit .... it was "Look in the mirror". But you know ...
rofl
Posted By: OldColdDawg Re: Economy/Inflation Threads - 06/02/23 10:53 PM
Originally Posted by Squires
Originally Posted by archbolddawg
Odd you say that. When the WORLD was suffering from covid, you know, the brand new virus, Trump was blamed for his handling of it. By the lefties, even though the scientists and doctors didn't know what to do.

Every nation was suffering - other than China, where it came from.

But now, inflation is not Biden's fault, "cause the rest of the world is suffering from it also". Can't make this crap up.


Just more liberal double standards. When something bad happens and a republican is president, it's 100% their fault. When a democrat is president, then suddenly the president has no control over anything.


WOW! I guess I don’t need to come here any more, y’all have it all figured out… smfh.
Posted By: OldColdDawg Re: Economy/Inflation Threads - 06/02/23 11:02 PM
Originally Posted by superbowldogg
This guy cannot continue to run our country.



Lmao@U


Why? Because he made McCarthy look like a chump in the debt limit deal? Or because he seems to get everything he sets out to do done in this chaos created by the right? You don’t get to have an opinion on Biden. You can’t even condemn Trump for being an idiotic fascist crook. Start there, then we can talk. Until them, you’re just another GOPer with a sore ass from LOSING. Y’all do a lot of LOSING since Trump won office. A LOT.
Posted By: Squires Re: Economy/Inflation Threads - 06/02/23 11:07 PM
Originally Posted by mgh888
Originally Posted by Squires
Just more liberal double standards. When something bad happens and a republican is president, it's 100% their fault. When a democrat is president, then suddenly the president has no control over anything.

Is that what they call gaslighting? Or is that a strawman argument? Because no-one on this thread said that.... but there you go. You said it so it must be true.

Not gaslighting, simply commenting on what I see. What I see is Biden getting a free pass for 2 and a half years. Liberals on this board rush to his defense or deflect when any criticism of Biden is brought up.
Posted By: PerfectSpiral Re: Economy/Inflation Threads - 06/02/23 11:39 PM
Oh gawd … the trump brigade in full force again. Lol
Posted By: OldColdDawg Re: Economy/Inflation Threads - 06/03/23 12:31 AM
Originally Posted by Squires
Originally Posted by mgh888
Originally Posted by Squires
Just more liberal double standards. When something bad happens and a republican is president, it's 100% their fault. When a democrat is president, then suddenly the president has no control over anything.

Is that what they call gaslighting? Or is that a strawman argument? Because no-one on this thread said that.... but there you go. You said it so it must be true.

Not gaslighting, simply commenting on what I see. What I see is Biden getting a free pass for 2 and a half years. Liberals on this board rush to his defense or deflect when any criticism of Biden is brought up.

BS! I’ve called out Biden on several occasions. And I’ll do it again, right here. Biden was a damn fool for letting McCarthy gain steam and bully him into a debt limit increase negotiation. You don’t negotiate with terrorists. And what GOPers have now done TWICE with the debt ceiling is nothing short of an act of domestic and international terrorism. They’ve caused markets to fall, worried our allies as well as the greater world with their nonsense. This was never traditionally done for a reason, and now they’ve done it twice in cutthroat moves to secure a meaningless win of what exactly? GOPers are better people when they keep their mouths shut and their heads down. Happier too, until a Rush or Tucker get’s in their heads with the propaganda lobotomy kit.

Biden should have known that they WERE NEVER going to cause a default. His only saving grace is that he gave them basically nothing and protected the programs and funding they wanted to destroy. Biden should have agreed to cut the Deficit and Budget 50 Billion, and then paid for it by defunding red states education funds, we shouldn’t have to pay for stupid results for our education dollars. Blue states should back this too, since they fund most of those educations. And I know they don’t like what red states are doing in schools. Ridiculousness and harmful hate… this is what they are teaching and want more of in schools. They like raising mouth breathers, school shooters, and lazy basement dwellers.

I say nope, defund that crap and send ‘em all back to their little houses on the prairie to be home schooled by grandpa daddy and momma sister. Then they won’t be exposed to trans pedos and libtards… smh. And they can talk about god and wholesomeness while sneaking their 12 year old into a blue state for a shameful secret but necessary abortion… Murica!
Posted By: PitDAWG Re: Economy/Inflation Threads - 06/03/23 02:42 PM
Isn't it funny? When you post all of the things that trump has done they just ignore it like the plague and claim they are somehow better. I know just yesterday I myself said the only choices we had were between trump and Biden and neither one was good. I've said time and time again the only choice voters had was to try and choose between the lesser of two evils. But I guess they must have missed all of those posts. Selective reading?
Posted By: THROW LONG Re: Economy/Inflation Threads - 06/03/23 03:09 PM
Originally Posted by Ballpeen
Our economy leads the world economy. What happens here spreads.
For business or for families.

I think we'll find that through it's history the USA economy has prospered at the expense of the American citizens.
Posted By: OldColdDawg Re: Economy/Inflation Threads - 06/03/23 07:39 PM
I know GOPers won’t watch it, but here are some real facts about our economy.

Posted By: Ballpeen Re: Economy/Inflation Threads - 06/03/23 11:53 PM
Originally Posted by EveDawg
I bought some frozen uncooked de-shelled large shrimp on sale today. 2 lb bag for 13 bucks. I thought that was pretty good.

I went to two restaurants this weekend for dinner. Both trendy, both usually packed. Both were pretty empty. Its cheaper to cook at home any more. Even with high grocery prices.

Restaurants gotta be struggling. High food prices. And customers staying home.

No doubt. We still go out, but not nearly as much. Especially the lower to mid rage places. We can do that at home for way less. We now pretty much only go to the higher end places, but not all that often. Maybe every 5-6 weeks.

Rather than spend $100 for 2 at a Longhorn or somewhere similar to get a meal I can cook at home, we just wait longer, go to a restaurant where we might drop $200-300, but have a memorable experience.
Posted By: FATE Re: Economy/Inflation Threads - 06/04/23 02:47 AM
Originally Posted by Ballpeen
Originally Posted by EveDawg
I bought some frozen uncooked de-shelled large shrimp on sale today. 2 lb bag for 13 bucks. I thought that was pretty good.

I went to two restaurants this weekend for dinner. Both trendy, both usually packed. Both were pretty empty. Its cheaper to cook at home any more. Even with high grocery prices.

Restaurants gotta be struggling. High food prices. And customers staying home.

No doubt. We still go out, but not nearly as much. Especially the lower to mid rage places. We can do that at home for way less. We now pretty much only go to the higher end places, but not all that often. Maybe every 5-6 weeks.

Rather than spend $100 for 2 at a Longhorn or somewhere similar to get a meal I can cook at home, we just wait longer, go to a restaurant where we might drop $200-300, but have a memorable experience.

That is exactly where I am right now. Rather spend $200+ for a great meal and cocktail plus service that makes me want to leave a hefty tip, than $125 for average across the board.
Posted By: PerfectSpiral Re: Economy/Inflation Threads - 06/04/23 03:01 AM
J/C

Believe me, the only restaurants really hurting still are the mom and pop family run businesses that survived the pandemic.
Posted By: Ballpeen Re: Economy/Inflation Threads - 06/04/23 09:54 AM
Originally Posted by PerfectSpiral
J/C

Believe me, the only restaurants really hurting still are the mom and pop family run businesses that survived the pandemic.

Possibly so.

I was talking about dinner before. I still have my favorite mom and pop meat and three plate lunch spot where I still go for lunch a few days a week. Just like I can't replicate the top end restaurants total experience, I can't just whip up a plate of meat loaf, mashed taters, fried okra, and come collards, plus rolls or cornbread for $7.75.
Posted By: mgh888 Re: Economy/Inflation Threads - 06/04/23 11:40 AM
That was quite good - I've never seen Cohen before and he makes some good points. But he also does the thing that all partisan media does which is state a small fact and then blow it into a much bigger claim or spin it sideways. I know I'm not the target audience - I'd prefer just straight facts, to me that's more powerful.
Posted By: OldColdDawg Re: Economy/Inflation Threads - 06/04/23 01:49 PM
Yeah, I get you. I don’t like all that either. But he nails the facts on many talking points we see out of GOPer voters all over social sites, including DT. He just jerked the rug right out from under ‘the economy is better under Republicans’…
Posted By: Ballpeen Re: Economy/Inflation Threads - 06/04/23 02:04 PM
I don't think people say that.

Good news is good news. It's not like I am rooting against a bad economy. Who is? I might be retired and am on a limited income, be it pretty good compared to some, but limited none the less. I don't like to see it shrink. Who does?

My only negative take is it pretty hard for things to get lower. I am not complaining, but it is worrisome that many aren't going back to work.

Banks are in a bind because many use large building as collateral for loans. As both business and people use the work at home formula, banks are stuck with buildings half empty.

Something needs to be done about that.

I get the benefit for both business and the employee, but we can't allow the banking system to go under. Everything we have is based on that and we can't allow that to collapse, or we are all sunk.
Posted By: PerfectSpiral Re: Economy/Inflation Threads - 06/04/23 11:56 PM
Quote
As both business and people use the work at home formula, banks are stuck with buildings half empty.

So maybe they could help the poor and homeless with truly affordable homes. Nah.
Posted By: Ballpeen Re: Economy/Inflation Threads - 06/05/23 12:02 AM
Originally Posted by PerfectSpiral
Quote
As both business and people use the work at home formula, banks are stuck with buildings half empty.

So maybe they could help the homeless with homes. Nah.

You really are dim, aren't you.


Homeless don't pay rent. Let's just turn America in to Section 8 housing.
Posted By: PerfectSpiral Re: Economy/Inflation Threads - 06/05/23 12:09 AM
Yeah, I knew you’d lump in all homeless as useless humans and say something to that sort. So I revised my post to include the poor. dim? Lol the irony?
Posted By: FATE Re: Economy/Inflation Threads - 06/05/23 05:38 AM
Didn't you just lump them all together as deserving of a free house on someone else's dime?
Posted By: Clemdawg Re: Economy/Inflation Threads - 06/05/23 07:08 AM
Originally Posted by PerfectSpiral
Quote
As both business and people use the work at home formula, banks are stuck with buildings half empty.

So maybe they could help the poor and homeless with truly affordable homes. Nah.


Though not specifically addressing your point, I'm going to use this moment to share something really cool that's happening in my neighborhood. It's literally a 10-minute walk from my back porch, and I pass it every day on my way to work. An American story of people trying something new, with no guarantee of success... just the will to make something positive happen. Start small. Grow, if you can. Take a chance. Try something- anything... because the opposite of anything- is nothing.

I'm a fan of this idea. 100% all-in.
I took a side stroll up this street, on my way home from work. Until last year, it was a paved side street that bisected empty lots on both sides. For as long as I've lived at my current address, Bluff St. was a 2-block long 'thoroughfare to nowhere.'

This is what I found, not more than 3 days ago.

Introducing: Bluff Street Village

My workplace is in the heart of the city I've called my home for more than 30 years. When it was time to buy our home, She+Me moved from the suburbs, and invested in the neighborhood(s) that surround the city's cultural arts center (half the orch at any given time has lived in the Old West End/Whitney Hills enclaves). This housing initiative is totally in keeping with the culture that permeates these neighborhoods. It is now extending positive cultural influence into previously dead real estate. Ownership from nothingship. Here is a report from the early days.





I don't post in this forum as often as I once did. That is by choice.
But every once in awhile, I feel the need to drop something into the stew that lets Dawgs see that stuff really is happening.

Bluff Village was once an empty lot across the street from the Methodist church that acts as the cultural anchor for much of the neighborhood.
Now, that once-empty parcel of dead real estate is the site of 7 new homes, with small green yards, a driveway, potential property rights- and a step up into the American consumer class.
Those 7 houses are on one side of Bluff St. The opposite side of Bluff is to be developed next.

I read these PalPol threads regularly. A consistent theme pops up: "What are cities doing to fix their own problems?"
That question is usually asked by someone who doesn't live here. Because, if they did live here, they wouldn't have to ask. The stories are all around us- and they write themselves.

For those people who still need to ask, I offer this post (and links) as a partial answer.


My neighborhood is the s#.
And it's populated by good people of every race, creed and stripe.

You can see who we are by the things we do.
Posted By: mgh888 Re: Economy/Inflation Threads - 06/05/23 11:16 AM
Originally Posted by FATE
Didn't you just lump them all together as deserving of a free house on someone else's dime?

That might be one interpretation.

The other that he said HELP the needy - by homing them. Nothing permanent. Nothing about giving them a free house. just a roof over their heads. . . . with resources that are empty and not being utilized. What a crazy idea THAT would be huh.

As for free section 8 housing for all - one day maybe everyone might start to understand the theory that when you help the community as a whole - and raise up the neediest and give them a helping hand ... it benefits EVERYONE. But that's just an opinion.
Posted By: Ballpeen Re: Economy/Inflation Threads - 06/05/23 11:58 AM
Originally Posted by PerfectSpiral
Yeah, I knew you’d lump in all homeless as useless humans and say something to that sort. So I revised my post to include the poor. dim? Lol the irony?

I didn't say they were useless humans. Nothing close to that.

I brought up that people staying at home for work has caused large amounts of office space to go unoccupied. That in turn is causing problems for banks. Buildings that are rented are what the banks used to value the amount of loans they made or use as collateral.

Turning them in to public housing units isn't going to solve anything on that front. It will actually create other problems. It will drive down the value of adjacent properties. Not because they are housing "useless humans" as you suggest. Rather, when you have building "A" hosing people for free or steeply discounted rents, and people in building B being asked to pay $500,000 for their condo, well, as the saying says, "there goes the neighborhood".

You may not like to hear that, but that is the reality.
Posted By: Ballpeen Re: Economy/Inflation Threads - 06/05/23 12:09 PM
Originally Posted by mgh888
Originally Posted by FATE
Didn't you just lump them all together as deserving of a free house on someone else's dime?

That might be one interpretation.

The other that he said HELP the needy - by homing them. Nothing permanent. Nothing about giving them a free house. just a roof over their heads. . . . with resources that are empty and not being utilized. What a crazy idea THAT would be huh.

As for free section 8 housing for all - one day maybe everyone might start to understand the theory that when you help the community as a whole - and raise up the neediest and give them a helping hand ... it benefits EVERYONE. But that's just an opinion.

I agree, and have no problem with that. We need to do that.
Posted By: PerfectSpiral Re: Economy/Inflation Threads - 06/05/23 12:26 PM
That’s what taking responsibility and showing accountability while doing something about the issue looks like folks.

But thats just looked at as a handout to the trump brigade.
Posted By: PerfectSpiral Re: Economy/Inflation Threads - 06/05/23 12:30 PM
Originally Posted by mgh888
Originally Posted by FATE
Didn't you just lump them all together as deserving of a free house on someone else's dime?

That might be one interpretation.

The other that he said HELP the needy - by homing them. Nothing permanent. Nothing about giving them a free house. just a roof over their heads. . . . with resources that are empty and not being utilized. What a crazy idea THAT would be huh.

As for free section 8 housing for all - one day maybe everyone might start to understand the theory that when you help the community as a whole - and raise up the neediest and give them a helping hand ... it benefits EVERYONE. But that's just an opinion.


Actually I simply suggested truly affordable housing. What the poor and homeless can really afford to move into. Not all homeless are broke. Many work full time jobs. Folks that are homeless are in that position for a multitude of reasons. Where’s the humanity? Damn, what the hell is wrong with people? Those that lump them into one category are the real problem.
Posted By: mgh888 Re: Economy/Inflation Threads - 06/05/23 12:40 PM
Originally Posted by Ballpeen
I agree, and have no problem with that. We need to do that.

That's great to see/hear and honestly I doubt many would honestly disagree with that as a goal for society. The issue is how you do it. The issue is that some focus on the small % that abuse the system rather than focus on the big picture. Some focus on the fact that anything run by government - state or federal - is inevitably inefficient.

I also think many assume that anyone getting free "anything" immediately lose any desire to work to improve their lot in life and will forever after have their hand out - something I strongly disagree with. I believe that you could take any individual who has ever read or posted on Dawgtalkers - give them the bare minimum of assistance for them to "live" for 6 months: A free room with a bed. Enough to eat 1,500-2,000 calories of food a day. Hell maybe a TV to watch with basic cable. . . . . . . . Not a one of us would settle for that and would all work our tails off to get a job so we could get "more". If we look around and think that's what "we" would all do - why do we assume that others would settle for a crappy, bare minimum but free lifestyle??

As for the abusers - they are in every walk of life, from the CEO's of Enron and other such billion dollar corporations, to those actively avoiding taxes, to people working two jobs and only every actually working one of them ... I bet we've all worked alongside someone that did the minimum, took credit for work and effort of others etc .... they are all cut from the same cloth in my eyes. jmo
Posted By: PerfectSpiral Re: Economy/Inflation Threads - 06/05/23 01:00 PM
Originally Posted by Ballpeen
Originally Posted by PerfectSpiral
Yeah, I knew you’d lump in all homeless as useless humans and say something to that sort. So I revised my post to include the poor. dim? Lol the irony?

I didn't say they were useless humans. Nothing close to that.

I brought up that people staying at home for work has caused large amounts of office space to go unoccupied. That in turn is causing problems for banks. Buildings that are rented are what the banks used to value the amount of loans they made or use as collateral.

Turning them in to public housing units isn't going to solve anything on that front. It will actually create other problems. It will drive down the value of adjacent properties. Not because they are housing "useless humans" as you suggest. Rather, when you have building "A" hosing people for free or steeply discounted rents, and people in building B being asked to pay $500,000 for their condo, well, as the saying says, "there goes the neighborhood".

You may not like to hear that, but that is the reality.

Well again I see you don’t have a clue into this issue at all. Banks want their clients buildings to fill up right? Well that’s not going to happen with just office space and high end condos alone bro.

People need an affordable place to live so they can work from home, including the poor and homeless. A place with hospitality and medical resources to handle the sick and hungry. Saying “there goes the neighborhood” is just the cliche one would expect from the entitled elite who feel they are being replaced by other races and cultures.
Posted By: PitDAWG Re: Economy/Inflation Threads - 06/05/23 03:33 PM
Originally Posted by FATE
Didn't you just lump them all together as deserving of a free house on someone else's dime?

Matt. 25: 33-46

33 And he shall set the sheep on his right hand, but the goats on the left.

34 Then shall the King say unto them on his right hand, Come, ye blessed of my Father, inherit the kingdom prepared for you from the foundation of the world:

35 For I was an hungred, and ye gave me meat: I was thirsty, and ye gave me drink: I was a stranger, and ye took me in:

36 Naked, and ye clothed me: I was sick, and ye visited me: I was in prison, and ye came unto me.

37 Then shall the righteous answer him, saying, Lord, when saw we thee an hungred, and fed thee? or thirsty, and gave thee drink?

38 When saw we thee a stranger, and took thee in? or naked, and clothed thee?

39 Or when saw we thee sick, or in prison, and came unto thee?

40 And the King shall answer and say unto them, Verily I say unto you, Inasmuch as ye have done it unto one of the least of these my brethren, ye have done it unto me.

41 Then shall he say also unto them on the left hand, Depart from me, ye cursed, into everlasting fire, prepared for the devil and his angels:

42 For I was an hungred, and ye gave me no meat: I was thirsty, and ye gave me no drink:

43 I was a stranger, and ye took me not in: naked, and ye clothed me not: sick, and in prison, and ye visited me not.

44 Then shall they also answer him, saying, Lord, when saw we thee an hungred, or athirst, or a stranger, or naked, or sick, or in prison, and did not minister unto thee?

45 Then shall he answer them, saying, Verily I say unto you, Inasmuch as ye did it not to one of the least of these, ye did it not to me.

46 And these shall go away into everlasting punishment: but the righteous into life eternal.

According to the way some of you post, you must think Jesus was a socialist. That's become a very popular label for decent human beings.
Posted By: FATE Re: Economy/Inflation Threads - 06/05/23 04:11 PM
Originally Posted by mgh888
Originally Posted by FATE
Didn't you just lump them all together as deserving of a free house on someone else's dime?

That might be one interpretation.

The other that he said HELP the needy - by homing them. Nothing permanent. Nothing about giving them a free house. just a roof over their heads. . . . with resources that are empty and not being utilized. What a crazy idea THAT would be huh.

As for free section 8 housing for all - one day maybe everyone might start to understand the theory that when you help the community as a whole - and raise up the neediest and give them a helping hand ... it benefits EVERYONE. But that's just an opinion.

Good possibility. I can't read PS's gibberish unless I'm in the mood for amateur hour... which is very seldom. He's been on ignore for years. Unfortunately, 'Peen's quote was different than what he actually posted -- that's my bad.
Posted By: Ballpeen Re: Economy/Inflation Threads - 06/05/23 04:18 PM
Originally Posted by mgh888
Originally Posted by Ballpeen
I agree, and have no problem with that. We need to do that.

That's great to see/hear and honestly I doubt many would honestly disagree with that as a goal for society. The issue is how you do it. The issue is that some focus on the small % that abuse the system rather than focus on the big picture. Some focus on the fact that anything run by government - state or federal - is inevitably inefficient.

I also think many assume that anyone getting free "anything" immediately lose any desire to work to improve their lot in life and will forever after have their hand out - something I strongly disagree with. I believe that you could take any individual who has ever read or posted on Dawgtalkers - give them the bare minimum of assistance for them to "live" for 6 months: A free room with a bed. Enough to eat 1,500-2,000 calories of food a day. Hell maybe a TV to watch with basic cable. . . . . . . . Not a one of us would settle for that and would all work our tails off to get a job so we could get "more". If we look around and think that's what "we" would all do - why do we assume that others would settle for a crappy, bare minimum but free lifestyle??

As for the abusers - they are in every walk of life, from the CEO's of Enron and other such billion dollar corporations, to those actively avoiding taxes, to people working two jobs and only every actually working one of them ... I bet we've all worked alongside someone that did the minimum, took credit for work and effort of others etc .... they are all cut from the same cloth in my eyes. jmo

We could talk all week about how it is done. It could be many ways.

I do know one thing, it shouldn't be free. Some sort of service should be provided. It's a fact that people value things they worked for more than handouts. It would also go a long way towards building self-esteem which is probably pretty low in many of those people.

I have many ideas but don't feel like typing anything in depth.

It would have to be paid for, how? Probably some combination of a small tax increase, diverting funds from other agencies., and the actual people in the program by working would pay in to the tax base.
Posted By: PerfectSpiral Re: Economy/Inflation Threads - 06/05/23 09:40 PM
Heaven forbid that banks that are too big to fail. You know the ones US tax payers bailed out? Would give back a bit to help…..lol..nah.
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