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2021 - Is inflation finally back in the conversation?

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  • Bateshorn
    Bateshorn

    The only thing more predictable than the GOP running up huge deficits on tax cuts and military spending, is each one suddenly becoming horrified by deficit spending 5 mins after a Democrat is sworn in

  • PilotsError
    PilotsError

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#5154
9 hours ago, Incredulity said:

Cal-Maine still profiteering or nah???

they found the angry social media posts and grew a conscience

#5155

Amazing how the egg shortage (but my local stores were never short on eggs) sorted itself out once the masses started to call them out on their bullshit.  I'm sure it was just the free market at work.

#5156
2 hours ago, Fudge Nuggets said:

Amazing how the egg shortage (but my local stores were never short on eggs) sorted itself out once the masses started to call them out on their bullshit.  I'm sure it was just the free market at work.

We haven't been buying eggs much for a while -- I was really surprised to see them at $1.24/dz the other day.  That graph above seems pretty legit.

#5157

The egg thing is still going on, but surprisingly, Whole Foods had them at about half the price of Safeway/Andronicos.  Right now you really can get ripped off at grocery stores and it’s bullshit.  So we go to Trader Joe, Costco, WF, or Andronicos alternating weeks to get things at a reasonable price.

#5158

I bought 3 dozen eggs at Sams yesterday for $4.88.

Crisis averted.

Of course they still had cage free bullshit for like $8.48/ 2 dozen.

Edited by slorch

#5159
6 hours ago, Fudge Nuggets said:

Amazing how the egg shortage (but my local stores were never short on eggs) sorted itself out once the masses started to call them out on their bullshit.  I'm sure it was just the free market at work.

“My local jewery store carries gold so it cant be rare. Why does it cost $$/oz?”

Imagine being an adult and thinking the price of eggs was determined by angry people on Twitter

#5160
1 hour ago, 52-80 said:

“My local jewery store carries gold so it cant be rare. Why does it cost $$/oz?”

Imagine being an adult and thinking the price of eggs was determined by angry people on Twitter

Imagine being an adult and thinking the price of eggs tripled overnight for legitimate reasons.

#5164
15 hours ago, Fudge Nuggets said:

Imagine being an adult and thinking the price of eggs tripled overnight for legitimate reasons.

Hey man, them corporate boots ain't gonna lick themselves

#5165
17 hours ago, Fudge Nuggets said:

Imagine being an adult and thinking the price of eggs tripled overnight for legitimate reasons.

Placating online grievance activists is a legitimate reason for cutting prices 2/3rds overnight

#5166

Debt ceiling done. Nothingburger as always. You can stop your prepping @Bozo_Casanova
 

Biden touts bipartisan debt ceiling agreement, but says neither side got everything it wanted https://t.co/voN9EQKXNI

 

 

#5167

Arch paleo-Republican Bruce Bartlett understands the silliness of the debt ceiling theater. Want to be brighter than 99% of Americans? Read and understand this. Good luck. 
 

Practically everyone on both the right and left err in their view of the national debt; they all view it as a burden. In an ideal world, both sides believe, we'd pay it off and be done with it. While this may be true for other countries, it is not true of the US.

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02091541-B383-4050-8BDE-11CF51F3E74B.thumb.jpeg.c82dd16ca805a38cab0d49d62ecdddd0.jpeg

 

#5171
4 hours ago, washparkhorn said:

Arch paleo-Republican Bruce Bartlett understands the silliness of the debt ceiling theater. Want to be brighter than 99% of Americans? Read and understand this. Good luck. 
 

Practically everyone on both the right and left err in their view of the national debt; they all view it as a burden. In an ideal world, both sides believe, we'd pay it off and be done with it. While this may be true for other countries, it is not true of the US.

35438E51-9F0A-4855-9D93-C225F3209270.thumb.jpeg.bc36ae81184f60d954e7d503718d2724.jpeg

02091541-B383-4050-8BDE-11CF51F3E74B.thumb.jpeg.c82dd16ca805a38cab0d49d62ecdddd0.jpeg

 

He has some good points. It’s nitpicking but I’ll say the point about liquidity is not as ironclad as it once was. Fed has had to step in and Treasury has at least publicly signaled they wanted an established mechanism to do the same. 

#5172
7 minutes ago, Mullet Free said:

He has some good points. It’s nitpicking but I’ll say the point about liquidity is not as ironclad as it once was. Fed has had to step in and Treasury has at least publicly signaled they wanted an established mechanism to do the same. 

Maybe we shouldn't let massive financial institutions leverage everything to the tits? Then we wouldn't have liquidity concerns every time the line briefly stops going up 

#5173
8 hours ago, washparkhorn said:

Arch paleo-Republican Bruce Bartlett understands the silliness of the debt ceiling theater. Want to be brighter than 99% of Americans? Read and understand this. Good luck. 
 

Practically everyone on both the right and left err in their view of the national debt; they all view it as a burden. In an ideal world, both sides believe, we'd pay it off and be done with it. While this may be true for other countries, it is not true of the US.

35438E51-9F0A-4855-9D93-C225F3209270.thumb.jpeg.bc36ae81184f60d954e7d503718d2724.jpeg

02091541-B383-4050-8BDE-11CF51F3E74B.thumb.jpeg.c82dd16ca805a38cab0d49d62ecdddd0.jpeg

 

He fails to mention that the US debt cannot be paid off. The money needed to pay it off must be loaned into existence, thereby creating more debt.

#5174

Debt default delayed, now we can go back to Fed watching and decrying all the money that got pumped into egg futures by the brrrt printer.

 This week stonks are back on the menu, boys!

#5176
10 hours ago, unoriginal said:

He fails to mention that the US debt cannot be paid off. The money needed to pay it off must be loaned into existence, thereby creating more debt.

That's neither true nor meaningful.  Currency (money) is just a representation of value.  People can create value - we do that all the time.

US economy suddenly produces a whole lot of goods and services.  Those things get sold (preferably offshore) which generate income.  The tax from them goes into Treasury account.  Treasury now has surplus money to pay off debt interest and principal of expiring bonds, reducing  its overall debt.

**

That lending money "creates money" is exactly the point. The idea is that the borrower - be it a private individual or a state entity - uses that capital, pulled from a future date, to do something excessively productive today.  I borrow money to grow an apple farm, I sell apples, i get money to pay you back and keep some for myself.  Both parties win. The operating principal is that the borrowed money is doing something useful, instead of supporting a military base in Cameroon.

**

That's also why there's so much focus on GDP, and the slogan 'the stock market is not the economy', because in the end the economy is about building marketable goods and services.  We let capitalism incentivize people to do that activity the best, and the antiwork marx-revivalist braindead goblins, those morons should be shot off into space on a 1-way vessel. 

#5177

Re: Bartlett - fiat money is not "an asset with no risk of default".  US Debt (size) doesn't matter until it does.  It can grow as long as the world has faith that the US has the ability to service the debt.  It's another soft (undefined) limit that we will eventually find out after much fucking around.  Catastrophic system design.  BTW, the no default risk asset Bartlett is looking for is gold.  That's why central banks own it.

#5178

he meant the sense that US will keep issuing new debt to pay existing bond obligation (with fed absorbing it from secondary market).  like you intimate, kicking the can down the road only works until it doesnt.  the capacity and appetite for it is finite.  people buy that stuff now because they want (future) dollars - whether to pay for commodities (oil is denominated in usd) or us taxes (must be remitted in usd).  if the country doesnt produce shit, doesnt sell shit, it simultaneously will be in a deeper shortfall of financial obligation AND nobody will want the new dollars.  thats a death loop. 

the fiat system isn't really key here. its the basic idea of needing to maintain a robust economy, and not overspending resource you dont have.

Edited by 52-80

#5179
10 hours ago, 52-80 said:

That's neither true nor meaningful.  Currency (money) is just a representation of value.  People can create value - we do that all the time.

US economy suddenly produces a whole lot of goods and services.  Those things get sold (preferably offshore) which generate income.  The tax from them goes into Treasury account.  Treasury now has surplus money to pay off debt interest and principal of expiring bonds, reducing  its overall debt.

**

That lending money "creates money" is exactly the point. The idea is that the borrower - be it a private individual or a state entity - uses that capital, pulled from a future date, to do something excessively productive today.  I borrow money to grow an apple farm, I sell apples, i get money to pay you back and keep some for myself.  Both parties win. The operating principal is that the borrowed money is doing something useful, instead of supporting a military base in Cameroon.

**

That's also why there's so much focus on GDP, and the slogan 'the stock market is not the economy', because in the end the economy is about building marketable goods and services.  We let capitalism incentivize people to do that activity the best, and the antiwork marx-revivalist braindead goblins, those morons should be shot off into space on a 1-way vessel. 

It is true. Before the first Federal Reserve Note was issued, zero existed. The USG needs 99 FRNs, so it borrows 99 from the Federal Reserve, with a promise to pay back 100 FRNs. That last FRN doesn't exist until it is loaned into existence, so the USG borrows another 99, and around it goes.

#5180
36 minutes ago, unoriginal said:

It is true. Before the first Federal Reserve Note was issued, zero existed. The USG needs 99 FRNs, so it borrows 99 from the Federal Reserve, with a promise to pay back 100 FRNs. That last FRN doesn't exist until it is loaned into existence, so the USG borrows another 99, and around it goes.

This technicality is not meaningful to the recent(ish) phenomena of overspending and accelerated debt issuance required to sustain it.  For a long period the country and its economy still grew while public debt was kept in check.  Not until last decade that its size exceeded majority fraction of GDP

#5183
On 5/29/2023 at 6:55 PM, unoriginal said:

He fails to mention that the US debt cannot be paid off. The money needed to pay it off must be loaned into existence, thereby creating more debt.

that's a feature, not a bug

#5184
3 hours ago, Bozo_Casanova said:

that's a feature, not a bug

I don't even understand the assertion.  If the budget is better than balanced, then that excess revenue can pay down national debt.  Clinton did it, for about a year.

#5185

Clinton raised taxes which led to more revenue. The Republicans ran against those tax increases and won a majority in both House and Senate for first time since 1952. The Republican congress blocked any spending initiatives from Clinton. More Revenue and less expenses, equals deficit reduction 

 

#5186
58 minutes ago, Neonmoon said:

Clinton raised taxes which led to more revenue. The Republicans ran against those tax increases and won a majority in both House and Senate for first time since 1952. The Republican congress blocked any spending initiatives from Clinton. More Revenue and less expenses, equals deficit reduction 

 

What exactly is your point, and how does it refute my assertion that the debt can actually be paid down without printing more money?

#5187
On 5/27/2023 at 10:24 AM, Fudge Nuggets said:

Amazing how the egg shortage (but my local stores were never short on eggs) sorted itself out once the masses started to call them out on their bullshit.  I'm sure it was just the free market at work.

 

profiteering - price gouging >>> inflation 

#5188
On 5/29/2023 at 11:03 AM, washparkhorn said:

Arch paleo-Republican Bruce Bartlett understands the silliness of the debt ceiling theater. Want to be brighter than 99% of Americans? Read and understand this. Good luck. 
 

Practically everyone on both the right and left err in their view of the national debt; they all view it as a burden. In an ideal world, both sides believe, we'd pay it off and be done with it. While this may be true for other countries, it is not true of the US.

35438E51-9F0A-4855-9D93-C225F3209270.thumb.jpeg.bc36ae81184f60d954e7d503718d2724.jpeg

02091541-B383-4050-8BDE-11CF51F3E74B.thumb.jpeg.c82dd16ca805a38cab0d49d62ecdddd0.jpeg

 

You can nitpick but he nails the big picture.  And the scary part is how few people in congress seem to have even the slightest clue - or even care.  

#5189
10 hours ago, Neonmoon said:

Clinton raised taxes which led to more revenue. The Republicans ran against those tax increases and won a majority in both House and Senate for first time since 1952. The Republican congress blocked any spending initiatives from Clinton. More Revenue and less expenses, equals deficit reduction 

 

The biggest boon was the booming economy / gains in the stock market due to the dot com bubble. Massive influx of unexpected tax revenue for the gubmint. Had little to do with politics.

#5190
On 5/28/2023 at 11:09 AM, 52-80 said:

Placating online grievance activists is a legitimate reason for cutting prices 2/3rds overnight

Placating Grievance Activists is a pretty solid band name.  

#5191
2 hours ago, Cheeseweasel said:

The biggest boon was the booming economy / gains in the stock market due to the dot com bubble. Massive influx of unexpected tax revenue for the gubmint. Had little to do with politics.

i think you are both correct.  bill did sign in a 1993 omnibus new 36% and 39.6% tax brackets, whereas previously it topped at 31% or 28%.  but also the revenue coincided with rise and fall of sp500 (with lag due due to capital realization)

 

image.png.3ad518e46a5a0d205de504b736978db1.png

#5192
29 minutes ago, Trey3216 said:

Placating Grievance Activists is a pretty solid band name.  

it genuinely baffles me that people can look at the tremendous volatility of goods on the market, and still convince themselves that 1 party has unilateral power over its pricing. 

in certain markets certain players have a a smudgeon of pricing power, but because we're living in Not-Cuba the market largely calls the shot.  retail egg price plummeted 66% in a matter of 4 months and whoever thinks thats a voluntary act, their brain should be donated to science so we can study its abnormality.

#5193
10 minutes ago, 52-80 said:

it genuinely baffles me that people can look at the tremendous volatility of goods on the market, and still convince themselves that 1 party has unilateral power over its pricing. 

That's eggsactly what Big Egg wants you to think. 

 

11 minutes ago, 52-80 said:

in certain markets certain players have a a smudgeon of pricing power, but because we're living in Not-Cuba the market largely calls the shot.  retail egg price plummeted 66% in a matter of 4 months and whoever thinks thats a voluntary act, their brain should be donated to science so we can study its abnormality.

Their brains are fried. (Scrambled would work too)

#5197
1 hour ago, 52-80 said:

it genuinely baffles me that people can look at the tremendous volatility of goods on the market, and still convince themselves that 1 party has unilateral power over its pricing. 

in certain markets certain players have a a smudgeon of pricing power, but because we're living in Not-Cuba the market largely calls the shot.  retail egg price plummeted 66% in a matter of 4 months and whoever thinks thats a voluntary act, their brain should be donated to science so we can study its abnormality.

BuT, LaTe sTaGe CapItalISM!!!!1!!!!1

 

 

#5198

It's hilarious and cute to see yall spiking the football while completely ignoring that the egg companies profits soared while their prices soared much further and faster than their costs.

 

If you enjoy paying so much for products, why don't you just give companies more money??? Hurrr durrrrrrrrrrrrrrrrrrrrr

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