Tiberius Posted November 15, 2022 Posted November 15, 2022 Quote Wholesale prices increased less than expected in October, adding to hopes that inflation is on the wane, the Bureau of Labor Statistics reported Tuesday. The produce price index, a measure of the prices that companies get for finished goods in the marketplace, rose 0.2% for the month, against the Dow Jones estimates for a 0.4% increase. https://www.cnbc.com/2022/11/15/wholesale-prices-rose-0point2percent-in-october-less-than-expected-as-inflation-eases.html
Chef Jim Posted November 15, 2022 Posted November 15, 2022 2 minutes ago, Tiberius said: https://www.cnbc.com/2022/11/15/wholesale-prices-rose-0point2percent-in-october-less-than-expected-as-inflation-eases.html Good news. Thanks to the Fed. Interesting you were the one that chastised me when I suggested raising rates was the easiest and quickest way to tame inflation. 🤷🏻♂️
Gene Frenkle Posted November 15, 2022 Posted November 15, 2022 (edited) 2 hours ago, Chef Jim said: Good news. Thanks to the Fed. Interesting you were the one that chastised me when I suggested raising rates was the easiest and quickest way to tame inflation. 🤷🏻♂️ I don't think they've even come close to the interest rates required to curb this inflation. They printed A LOT of money. Also, for anyone confused, Biden can't print money. Only the Fed can, a private institution. Edit: Also, for anyone interested, this represents a decrease in the value of any US Dollars you own, a.k.a. your savings. This is done to artificially prop up markets that are touted as free, but are clearly not. This is done to help large corporations and billionaires. Edited November 15, 2022 by Gene Frenkle
Chef Jim Posted November 15, 2022 Posted November 15, 2022 1 hour ago, Gene Frenkle said: I don't think they've even come close to the interest rates required to curb this inflation. They printed A LOT of money. Also, for anyone confused, Biden can't print money. Only the Fed can, a private institution. Edit: Also, for anyone interested, this represents a decrease in the value of any US Dollars you own, a.k.a. your savings. This is done to artificially prop up markets that are touted as free, but are clearly not. This is done to help large corporations and billionaires. I was back east this past summer and my brother in law who is a big conspiracy type guy said the Fed would need to raise rates to 25%. LOL. And yes the Fed is appointed by the Pres but act independently from the Administration. But the Fed often needs to print money to cover the spending/stimulus the Congress approves no?
TH3 Posted November 15, 2022 Posted November 15, 2022 1 hour ago, Gene Frenkle said: I don't think they've even come close to the interest rates required to curb this inflation. They printed A LOT of money. Also, for anyone confused, Biden can't print money. Only the Fed can, a private institution. Edit: Also, for anyone interested, this represents a decrease in the value of any US Dollars you own, a.k.a. your savings. This is done to artificially prop up markets that are touted as free, but are clearly not. This is done to help large corporations and billionaires. Huh? The money supply is up because - if you have lived as long as I have...there is so much more economy now. If money supply causes inflation..what happend in the late 70's? Complaining about money supply/quantitative easing is way to simplistic ....it has brought much more good that bad...to just about everyone...
Big Blitz Posted November 16, 2022 Author Posted November 16, 2022 (edited) I’m stunned I tell you! They all waited till after the election Amazon starts cutting jobs, with layoffs hitting Alexa unit and cloud gaming division Amazon is aiming to eliminate about 10,000 jobs, mostly in retail, devices and human resources, The New York Times reported Monday. The number remains fluid because the cuts are being implemented by individual teams, according to the Times. By mid-day Tuesday, Amazon had not sent out any companywide communication about the planned layoffs, which sparked frustration among employees, according to a person familiar with the matter who asked not to be named because of confidentiality. Representatives from Amazon declined to comment. https://www.cnbc.com/2022/11/15/amazon-starts-cutting-jobs-in-alexa-unit-and-cloud-gaming-division.html Edited November 16, 2022 by Big Blitz
B-Man Posted November 16, 2022 Posted November 16, 2022 Bidenomics update: Household debt increased at fastest pace in 15 years https://hotair.com/tree-hugging-sister/2022/11/15/bidenomics-update-household-debt-increased-at-fastest-pace-in-15-years-n511209
Gene Frenkle Posted November 16, 2022 Posted November 16, 2022 21 hours ago, TH3 said: Huh? The money supply is up because - if you have lived as long as I have...there is so much more economy now. If money supply causes inflation..what happend in the late 70's? Complaining about money supply/quantitative easing is way to simplistic ....it has brought much more good that bad...to just about everyone... It's certainly brought inflated economic sectors that periodically collapse and crush the poors over and over again. Printing more of a currency dilutes the value of the rest of the currency and it's a simple as that. That is a true statement. The closer you are to the money spigot, the better that is for you and the further, the worse. It's certainly proven to be a way to reward the largest and most well-connected individuals and organizations while taking value from the rest, unless you somehow still believe that trickle down economics works. Printing money is a power that no person should have, imo. Having a small, private group control that printing is insane.
OrangeBills Posted November 18, 2022 Posted November 18, 2022 On 11/14/2022 at 8:47 PM, Gene Frenkle said: The world is experiencing insane inflation because money printer go brrrrrr for so long, especially since the 2020 crash. Overleveraged banks and Wallstreet have benefited from quatative easing policies that went on for far too long, leading to a massive economic bubble in many sectors around the world. Long term inflation is caused by literally one thing: printing more money. We (and many other countries) printed way too much and the bubble will pop spectacularly sooner rather than later. This problem far pre-dates this administration, so anyone pinning it on Biden Bad is either disingenuous or stupid AF. This issue spans multiple administrations, so I'm not necessarily even blaming Trump. We never fixed anything after 2008, just printed more money to bail out institutions (casinos) that were "too big to fail". It's a greed problem, mixed with a lack of transparency and poor timing. Blame Jay Powell and the Fed (a private organization) if you want a reasonable recent scapegoat, but that's not 100% right either. This is true and not true. Printing money definitely causes inflation, but I and many others argued about shutting down the economy and its impacts, and the clear and easy biggest issue with shutting the economy would be and is Inflation. There is monetary inflation, supply-side destruction inflation, and demand inflation inflation, and this Leftist-Western cabal managed to nail all aspects of every one of those. These people have no idea how the world works, that much is clear. The Fed is not perfect but was "easy" for a long-time. The Primary Issue was the indoctrination of horrendous Leftist policies. To think Bernie Sanders wanted to print $7 TRILLION and was only stopped by Manchin?!?!?! These people are just plain stupid, and we'll all and are paying the price
Big Blitz Posted November 18, 2022 Author Posted November 18, 2022 (edited) 7 hours ago, B-Man said: Uh-oh, is right. “Americans fall deeper into debt: Due to low info morons casting early ballots (conned into it) and ballot harvesting - some 30 to even 50 days before the election (so right off summer when no one is following anything) they are deprived of an actual campaign where you learn about the candidates and the issues - and why something like this has happened. Dems want you to think everyone knows all the issues and candidates already. That’s a lie. A big lie. They want to skip that and harvest as many votes as possible way before Election Day. Election season! Per the b.s. “it increases democracy!” rules - the campaigns should start in July. But that’s not how this works. We follow campaigns and candidates in the fall - and show the ***k up on Election Day. Not our fault the core Democratic contingency is too disinterested and still really knows nothing except free stuff. And that’s why these early voting because we had to slow the spread rules are in fact the actual attack on democracy Sorry for the facts over feelings. Edited November 18, 2022 by Big Blitz 1
B-Man Posted November 18, 2022 Posted November 18, 2022 Not a surprise: US Homebuilding Tumbles to Two-Year Low Amid Soaring Mortgage Rates U.S. homebuilding fell sharply in October, with single-family projects dropping to the lowest level in nearly 2-1/2 years, as the housing market buckles under the strain of surging mortgage rates, which are pricing out potential homeowners. Housing starts decreased 4.2% to a seasonally adjusted annual rate of 1.425 million units last month, the Commerce Department reported on Thursday. Data for September was revised higher to a rate of 1.488 million units from the previously reported 1.439 million units. Economists polled by Reuters had forecast starts sliding to a rate of 1.410 million units. Housing starts dropped 8.8% year-on-year in October. Single-family housing starts, which account for the biggest share of homebuilding, tumbled 6.1% to a rate of 855,000 units, the lowest level since May 2020. Single-family homebuilding declined in all four regions. https://www.reuters.com/markets/us/us-housing-starts-tumble-october-amid-soaring-mortgage-rates-2022-11-17/
B-Man Posted November 22, 2022 Posted November 22, 2022 COLOR ME UNSURPRISED: US Consumers Are Doing Exactly What They Did Just Prior To The Crash Of 2008. “We never seem to learn from our mistakes. Just before the financial markets crashed and the economy plunged into a horrifying recession in 2008, U.S. consumers went on a debt binge of epic proportions. Mortgage debt, auto loan debt and credit card debt all skyrocketed, and so when the economy finally crashed all of a sudden there were millions of Americans drowning in bills that they were unable to pay. Well, now it is happening again. According to the Federal Reserve Bank of New York, during the third quarter of 2022 household debt increased at the fastest pace that we have seen since the first quarter of 2008.” https://www.zerohedge.com/personal-finance/us-consumers-are-doing-exactly-what-they-did-just-prior-crash-2008 .
Gene Frenkle Posted November 23, 2022 Posted November 23, 2022 1 hour ago, B-Man said: COLOR ME UNSURPRISED: US Consumers Are Doing Exactly What They Did Just Prior To The Crash Of 2008. “We never seem to learn from our mistakes. Just before the financial markets crashed and the economy plunged into a horrifying recession in 2008, U.S. consumers went on a debt binge of epic proportions. Mortgage debt, auto loan debt and credit card debt all skyrocketed, and so when the economy finally crashed all of a sudden there were millions of Americans drowning in bills that they were unable to pay. Well, now it is happening again. According to the Federal Reserve Bank of New York, during the third quarter of 2022 household debt increased at the fastest pace that we have seen since the first quarter of 2008.” https://www.zerohedge.com/personal-finance/us-consumers-are-doing-exactly-what-they-did-just-prior-crash-2008 . Russian account zerohedge thanks you for spreading the word, comrade!
B-Man Posted November 23, 2022 Posted November 23, 2022 1 hour ago, Gene Frenkle said: Russian account zerohedge thanks you for spreading the word, comrade! Sorry, sonny boy, no one believes that childish response any more. Every point is resourced by US statistics
B-Man Posted November 23, 2022 Posted November 23, 2022 of course. Biden Overturns Trump rule and tells 401kbinvestors to prioritize green investments over profit - despite plans already losing $34,000 on average this year by Neirin Gray Desai The Biden administration will allow employers to invest pension money in green industries that could provide lower returns for Americans. The move which was announced on Tuesday reverses a rule imposed by Trump in 2020 that forced employers to prioritize profit when making 401(k) investments. The new rule introduced by US Department of Labor will allow retirement plan investors to focus on ESG investing - which considers the environmental and social impacts of investments. The change comes as the average 401(k) in the US is down around 25 percent https://www.dailymail.co.uk/news/article-11459803/Biden-allow-employers-consider-green-investments-401ks.html 1
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