Biden Domestic Policy

[BigRedBuster]

2 minutes ago, TGHusker said:

Sounds like she is taking hits from the right and the left on her Central American trip - regarding her comments and missed opportunities.  She may not have been ready for her big day in the sun.

I haven't read all the criticism yet.  But, I read somewhere she was being criticized because she hasn't visited the border yet.  Which, I think is a BS complaint.  

[TGHusker]

7 minutes ago, BigRedBuster said:

I haven't read all the criticism yet.  But, I read somewhere she was being criticized because she hasn't visited the border yet.  Which, I think is a BS complaint.  

Yes that is the GOP BS complaint - as if policy is built on a photo opp.   Of course GOP is well versed on doing photo opps at the boarder while doing nothing legislatively to solve the problem - no overall comprehensive plan was drawn up while they controlled House, Senate and WH or when they controlled the Senate and WH - if it is such a big deal they would have worked wt the Dems to get it done. And by the way, that works now as well - the Dems and GOP need to work together to get this address holistically.   I do believe we need to help solve the issues at the foundation - within the Central American countries and Mexico.   We discussed this before, but I don't understand sourcing manufacturing from China and Vietnam (communist govts that are totally opposed to our way of life/governance and in the case of China - they use our $$s to build an increasingly hostile military not to mention their civil rights abuses) and not helping to develop industries in these countries within our own region.   Mexico has become a lawless land with a corrupt govt.    Instead of spending all of our money on military excursions in the MidEast we need to concentrate on our neighborhood. 

[Archy1221]

I don’t see the inflation issue getting any better in the short term.  Hopefully the Gov and Fed can reign things in soon before it spirals out of control. 
 

https://thehill.com/opinion/finance/557743-deutsche-bank-issues-dire-economic-warning-for-america

[RedDenver]

1 hour ago, Archy1221 said:

I don’t see the inflation issue getting any better in the short term.  Hopefully the Gov and Fed can reign things in soon before it spirals out of control. 
 

https://thehill.com/opinion/finance/557743-deutsche-bank-issues-dire-economic-warning-for-america

 

[BigRedBuster]

The idea that inflation isn’t real because it’s caused by supply issues is BS.  Much of the economy didn’t have supply disruptions.  The demand is just so high that supply can’t keep up and that’s causing inflation. It’s also fueled by raw material prices skyrocketing....inflation. 
 

Also, the idea that demand is just getting back to prepandemic levels us also BS.   It’s MUCH higher...causing inflation. 

 

Wages are going up. That’s good. But, that is causing more price increases....inflation. 

 

Prices of everything is going up. That’s inflation. It boggles my mind that there are people trying to argue that it isn’t. 
 

I have to believe that the reason they are is for political reasons.  
 

The big question is if it is temporary. I personally don’t think much of it is without some form of action to fight it.  

[Archy1221]

54 minutes ago, BigRedBuster said:

The idea that inflation isn’t real because it’s caused by supply issues is BS.  Much of the economy didn’t have supply disruptions.  The demand is just so high that supply can’t keep up and that’s causing inflation. It’s also fueled by raw material prices skyrocketing....inflation. 
 

Also, the idea that demand is just getting back to prepandemic levels us also BS.   It’s MUCH higher...causing inflation. 

 

Wages are going up. That’s good. But, that is causing more price increases....inflation. 

 

Prices of everything is going up. That’s inflation. It boggles my mind that there are people trying to argue that it isn’t. 
 

I have to believe that the reason they are is for political reasons.  
 

The big question is if it is temporary. I personally don’t think much of it is without some form of action to fight it.  

Don’t forget the massive amounts of money being poured in…inflation 

[BigRedBuster]

Just now, Archy1221 said:

Don’t forget the massive amounts of money being poured in…inflation 

Yes.

[BigRedBuster]

 

https://www.theguardian.com/business/2021/jun/10/us-inflation-highest-rate-stocks-consumer-price-index

 

Quote

Inflation in the US has jumped to the highest rate since 2008 as the world’s largest economy rebounds strongly from the coronavirus crisis.

 

[knapplc]

11 minutes ago, BigRedBuster said:

https://www.theguardian.com/business/2021/jun/10/us-inflation-highest-rate-stocks-consumer-price-index

 

 

 

However, there was no need to panic about the jump in US inflation, said Ron Temple, the head of US equities at Lazard Asset Management. “Before hitting the panic button, investors should recognise that used cars, auto insurance, and air fares drove nearly half of the core CPI increase.

 

“These increases are all easily explained by depressed prices a year ago and the semiconductor shortage that has turbocharged used car prices. The next few months are likely to be noisy, and investors should focus on data this fall when schools are fully reopened and several million workers can rejoin the labour force.”

 

The S&P 500 hit a fresh record high of 4,249.74 after the inflation report, before easing back a little.

 

Alastair George, the chief investment strategist at the investment firm Edison Group, said: “There is a lot of debate about the spectre of fast-rising inflation pressuring central banks to raise rates, or an unwelcome bond market selloff.

 

“We believe the data is still very noisy and say more about the rapidity of the rebound in demand which is welcome, rather than any signal about the long-term outlook for inflation.”

 

[BigRedBuster]

45 minutes ago, knapplc said:

 

 

However, there was no need to panic about the jump in US inflation, said Ron Temple, the head of US equities at Lazard Asset Management. “Before hitting the panic button, investors should recognise that used cars, auto insurance, and air fares drove nearly half of the core CPI increase.

 

“These increases are all easily explained by depressed prices a year ago and the semiconductor shortage that has turbocharged used car prices. The next few months are likely to be noisy, and investors should focus on data this fall when schools are fully reopened and several million workers can rejoin the labour force.”

 

The S&P 500 hit a fresh record high of 4,249.74 after the inflation report, before easing back a little.

 

Alastair George, the chief investment strategist at the investment firm Edison Group, said: “There is a lot of debate about the spectre of fast-rising inflation pressuring central banks to raise rates, or an unwelcome bond market selloff.

 

“We believe the data is still very noisy and say more about the rapidity of the rebound in demand which is welcome, rather than any signal about the long-term outlook for inflation.”

 

 

And, that's why I put this in my post above.  I guess we will see.

 

2 hours ago, BigRedBuster said:

The big question is if it is temporary. I personally don’t think much of it is without some form of action to fight it.  

 

[RedDenver]

3 hours ago, BigRedBuster said:

 

And, that's why I put this in my post above.  I guess we will see.

 

 

Which is the point of the tweets I linked - that this is temporary due to the pandemic ending and not some big rise in inflation that we should freak out about and change policies. We're just in a historically low period since the 2008 Great Recession.

 

It's a blip when looked at historically, inflation was higher for most of the 60's, 70's, 80's and 90's than the high right now.

 

 

[BigRedBuster]

9 minutes ago, RedDenver said:

Which is the point of the tweets I linked - that this is temporary due to the pandemic ending and not some big rise in inflation that we should freak out about and change policies. We're just in a historically low period since the 2008 Great Recession.

 

It's a blip when looked at historically, inflation was higher for most of the 60's, 70's, 80's and 90's than the high right now.

 

 

And, I said I don’t agree that it’s temporary without a corrective action. 
 

Your graph is obviously not complete. Inflation  is at 5% and that’s the first line. 
 

Also, inflation was a major problem in many of those years. I would prefer to not go back to those years as far as inflation.  

[RedDenver]

1 minute ago, BigRedBuster said:

And, I said I don’t agree that it’s temporary without a corrective action. 
 

Your graph is obviously not complete. Inflation  is at 5% and that’s the first line. 
 

Also, inflation was a major problem in many of those years. I would prefer to not go back to those years as far as inflation.  

If you have a historical graph that includes the latest numbers, I'll edit my post. But your missing the point of the historical context if you know the current rate is 5% and can't compare that to the graph. Plus we're coming out of a pandemic that disrupted the economy, so it shouldn't be a surprise to anyone.

[BigRedBuster]

Just now, RedDenver said:

If you have a historical graph that includes the latest numbers, I'll edit my post. But your missing the point of the historical context if you know the current rate is 5% and can't compare that to the graph. Plus we're coming out of a pandemic that disrupted the economy, so it shouldn't be a surprise to anyone.

And you’re ignoring the problems inflation caused in those decades. 

[RedDenver]

9 minutes ago, BigRedBuster said:

And you’re ignoring the problems inflation caused in those decades. 

I'm not. I'm saying the inflation is temporary on the order of a few months, which isn't anything like the multi-year issues of past decades. If inflation stays around 5% for a year, then I'll be more concerned.