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Originally Posted by mulcher
(Post 3252934)
I got mine through hard work like anybody else can. Like the FA that says “I could have had you job IF I finished flying”. Always some reason they didn’t though. Life is choices. So spare me almighty . I know plenty about macro and micro economics. Some of you righteous self appointed geniuses are hilarious!
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Originally Posted by LUVisLost
(Post 3252837)
I got mine SCREW you all!! Yeah yeah yeah, heard it before and it’s a bad argument.
You missed the entire point by the way. The extra money is not just to help those people that need but to help jump start the US economy. We are a society of consumerism. You stop the spending you stop the machine and the evil devil we all try to avoid is deflation, and nothing starts deflation than a stop in spending. You give people money and it keeps the patient on life support. The micro and macro view is quite divergent but that is the case in a lot of economic viewpoints. Transitory inflation is what we have now. Look at lumber futures today? Absolutely TANKING…a few more days and it will be back to what it was before the pandemic started. Semi conductors have a multitude of reasons why they spiking in price but a pandemic, drought in Taiwan, shifting of the supply chain and backlog of ships in China loading and unloading in the US all are causing temporary price spikes. Those issues will also be fixed soon. So if the price to pay to keep the patient alive while the risk averse private sectors come back alive, so be it, it’s for the betterment of the national economy. What I’m saying is and I will call you out specifically, you have absolutely no idea what you are talking about. I heard the same argument during the Great Recession, thus why we screwed the pooch and didn’t pump enough money into the economy, guess what? People still worked and inflation was tame if existent at all. MMT may provide some insight into the reasons why but I’m not totally convinced on that one yet but I am in tune with lots of online economic debates about it. |
Originally Posted by Zman81
(Post 3252987)
Your wrong about transitionary inflation. Have you even read what the regional FED presidents have been saying ? Specifically two of them who said it’s not transitionary. These are the people that vote and Jerome follows suit as the fed president. You might want to look how the fed runs on policy. Actually more FED regional presidents have been flipping their stance in the past 14 days then previous thought. Also not to mention ever large CEO bank president in the USA. But I am sure you know more then the regional Fed presidents that help set policy as well as large banks on Wall Street.
Ah someone who has only read the headlines and not actually looked at the actual statements done on the June 16 meeting. In its updated forecasts, the Fed acknowledged it had missed on inflation expectations, upgrading its preferred core inflation forecast for 2021 from 2.2% all the way up to 3.0%. That’s a large jump, but that’s based on what’s behind us. The forecast for the same index in 2022 and 2023 scarcely moved, at 2.1% for both years. Fed out of Atlanta has a measure called sticky core inflation. It’s less transitory. Sitting at 2.6 percent. Not low but certainly not a worry……yet. Lumber….down. Copper….down. Gold…down…10 year Treasury yields….down. All signs inflation will not be an issue. Now I will say it will be till 2022 mid year before we see the transitory inflation wear off on certain items. Inflation is a tricky beast but until we see sustained wage growth, the largest influencer in sustained CPI growth the economic models indicate inflation is not a problem. There are no absolutes in economic forecasting but I bet the farm on inflation not being an issue, I’m worried about a stalled recovery and deflation showing up. Then we are all fooked. Oh the bank CEOs?? It was three of them that recently spoke about it. The clearly admitted during the meeting their staff economists disagreed that them about inflation. So even in a powerful organization like Wells Fargo the experts are disagreeing with the CEO. |
Originally Posted by LUVisLost
(Post 3253014)
Lumber….down.. Second, everyone knows lumber prices have been up, up, up the last few months and year.... so no one believes your bs when you get something so basic so wrong. |
https://pbs.twimg.com/media/DzjYZ7iX...png&name=small
all propenents of Modern Monetary Theory, stop derailing this thread. Make a DIFFERENT THREAD explaining how awesome it is to pay taxes so others don’t have to work. We are waiting. |
Hobbies.
They will keep you from worrying about this kind of stuff. |
Originally Posted by Profane Kahuna
(Post 3253048)
Second, everyone knows lumber prices have been up, up, up the last few months and year.... so no one believes your bs when you get something so basic so wrong.
Lumber Prices Are Falling Fast, Turning Hoarders Into Sellers Lumber Price Chart |
1 Attachment(s)
Originally Posted by Lewbronski
(Post 3253103)
Don’t know if you’re joking, but in case you’re not:
Lumber Prices Are Falling Fast, Turning Hoarders Into Sellers Lumber Price Chart Also, lumber prices for the previous 5 years showing the huge spike up: |
Originally Posted by Grumpyaviator
(Post 3252494)
A two income household can rake in up to $60k in the enhanced unemployment. That’s almost 50% more than the median household income in the county where I live.
Believe me, the folks in my area aren’t using it to better themselves or save for a rainy day, they’re blowing on needless junk at our expense. |
Ahh yes, the old Megan McCains of the world, where paid maternity leave is evil socialism until it's pretty good once it benefits me.
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