Economy
- Thread starter BigRedBuster
- Start date
DevoHusker
New member
That's a good problem to have...you know, as long as you don't need somewhere to live after you sell.
"Mom!! Meatloaf...!!"
teachercd
Well-known member
DevoHusker
New member
If I had been more forward thinking, and fiscally ready (I'm always ready to retire mentally) 8-10 years ago this would have been a great investment opportunity. Could have rented it out and doubled my value by the time I was ready to move down there.
BigRedBuster
Well-known member
Oh my...yes.
I was in a meeting with a guy back around 2010. He had purchased a house in the Keys for 650,000 in 2006 and was needing to dump it. It had been in the market for over a year and had it down to 200,000 and still nobody had looked at it. If I would have had the cash in the bank..........That house is probably over a million now.
teachercd
Well-known member
Yes! The keys!
Dude, 20 years ago the homes there were "cheap" now they are insane because well, the Keys are pretty amazing. Is that where you are going to buy?
ActualCornHusker
New member
The economic incompetence of the current administration can't possibly be overstated, but the original source of the rapid inflation we're seeing was the idiotic shutdowns and the printing of many trillions of dollars out of thin air, which happened under Trump. But yeah, basically every step taken by whoever is calling the shots for Biden has exacerbated the situation.
Archy1221
Well-known member
BigRedBuster
Well-known member
I'm not a big Biden fan. But, what would a Republican President have done differently with the economy knowing the issues Biden has had to deal with?
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Dr. Strangelove
Well-known member
It's amusing that 2/3s of COVID Relief spending was under Trump, but Biden is blamed for inflation regardless. You don't think it has anything to do with high demand post COVID and the difficulty of companies meeting that demand?
Companies relied on Just In Time Manufacturing to meet demand, usually on the backs of cheap labor. Workers have realized that wages at $10 dollars an hour simply isn't worth wasting 40 hours of your week to earn.
Additionally, a lot of the supply chain issues are international. Biden cannot simply buy more semiconductors to build more cars. Furthermore, energy - one of the highest contributors of inflation - are commodities with international prices. There isn't much Biden or anybody can do to lower them.
Archy1221
Well-known member
That’s actually a great question, and my answers is who knows really. It’s just as likely they would have succumbed to the pressure of additional unneeded monetary spending as it is they wouldn’t have. One would hope they would have recognized the inflation signs sooner, but Democrats aren’t the only party susceptible to incompetence at times.
But none of that excuses the mistakes of 2021
Archy1221
Well-known member
ActualCornHusker
New member
The Republican party is just as much garbage as the Democratic party, so idk if that really matters. But perhaps someone who isn't completely incompetent, ideologically possessed, and corrupt (wishful thinking, I know) wouldn't have shut down the pipeline on their 1st week in office and chosen not to extend oil drilling leases on federal property. That would be a start. Then the additional unemployment payments were a freaking disaster and should have never been approved in the 1st place, but certainly should have been ended FAR sooner.
I think the biggest flaw is bouncing back and forth from Dem to Rep candidates thinking they're going to solve any of the other's problems when they've both shown to be not only incompetent but completely crooked. How anyone can have faith in either party at this point is truly mind-boggling to me.
ActualCornHusker
New member
And yet he's done plenty to increase their prices.... It's pretty laughable to say that the president has no impact on gas or energy prices when we can see with our own eyes that that is bogus.
Regarding your 1st & middle paragraph, yes, I agree that it's far more nuanced than anyone on either side wants to admit. And on stagnant wages, there's a large number of factors at play. One of the primary factors is this: when given a choice between 2 comparable products (1 that is priced lower and has used chinese slave labor, & 1 that is priced a little higher but is made in America and pays their workers well), consumers will purchase the lower priced product 9 times out of 10. That's why American manufacturing has dried up and been out-sourced to countries that can produce things at less cost. Of course, there's a ton of political corruption and incompetence that has forced that as well.
ZRod
Well-known member
Where is there any proof that the Trump checks and Biden bucks caused inflation? What is an actual example of Biden increasing prices? It's pretty easy to tell who in this thread actually deals with supply chains, and specifically international ones, in their daily jobs. That's probably your biggest contributer to inflation (supply chain issues), not stimulus money.
The cost of labor has gone up, which on it's own almost every company could have absorbed. However the price of fuel also increased, a tough hit but manageable. But inventories have drastically reduced due to labor shortages and backlogs from shut downs (and actually believe it or not due to starting back up too soon in the case of microchips), and poor recovery planning from the subtier manufacturers. What this reduction in inventories means is that JIT manufacturers are in trouble. They now can't wait a month on the slow boat from China, or a week for a truck from Mexico. They must airfreight material to receive it in a couple days and keep plants running and often they're still not getting it in time. That's a massive cost hit there between paying the expedite costs (which is exacerbated by fuel prices) and lost product from down time.
Sure Biden could influence fuel prices, but that's only a small piece of the puzzle and doesn't resolve any of the issues created by labor shortages and supply chains drying up. The only way you fix this issue is with a command economy where the government dictates what is being made, how much, and when (which is effectively what companies are doing to manage these issues) Absolutely no one here wants that kind of government! But in reality Trump and Biden have taken small steps to turn sectors into command style economies with the defense production act.
The cost of labor has gone up, which on it's own almost every company could have absorbed. However the price of fuel also increased, a tough hit but manageable. But inventories have drastically reduced due to labor shortages and backlogs from shut downs (and actually believe it or not due to starting back up too soon in the case of microchips), and poor recovery planning from the subtier manufacturers. What this reduction in inventories means is that JIT manufacturers are in trouble. They now can't wait a month on the slow boat from China, or a week for a truck from Mexico. They must airfreight material to receive it in a couple days and keep plants running and often they're still not getting it in time. That's a massive cost hit there between paying the expedite costs (which is exacerbated by fuel prices) and lost product from down time.
Sure Biden could influence fuel prices, but that's only a small piece of the puzzle and doesn't resolve any of the issues created by labor shortages and supply chains drying up. The only way you fix this issue is with a command economy where the government dictates what is being made, how much, and when (which is effectively what companies are doing to manage these issues) Absolutely no one here wants that kind of government! But in reality Trump and Biden have taken small steps to turn sectors into command style economies with the defense production act.
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