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WTF is wrong with the left?

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ThePAMan

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Re: WTF is wrong with the left?
« Reply #2385 on: May 10, 2022, 03:28:58 PM »
Quote from: ILLove1997 on May 10, 2022, 03:02:03 PM
I don't know about that... what about promoting having more abortions?

Actually heard someone on CBS radio actually make the point that a post-Roe world could be an economic hardship on certain women.  Won't be able to work or go to school, etc. I guess no love without a glove could become a thing again.
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ThePAMan

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Re: WTF is wrong with the left?
« Reply #2386 on: May 10, 2022, 03:35:12 PM »
Quote from: illiniray on May 10, 2022, 03:16:04 PM

Maybe I am naive, but it should not be hard to sell the following:

Most of the current Inflation is directly and indirectly due to Covid. In response to the lock downs and closures, the previous administration passed the CARES ACT. This current administration passed the American Recovery Act. These acts helped prevent economic chaos.

One unfortunate side effect was an increase in core inflation from 2% to 5%. However, the alternative, deflation, would have been far worse and more difficult to overcome.

Of course, the consumer price index, or CPI is running about 8.5%. The CPI differs from core inflation because it includes commodities that fluctuate in price with the market.

Much of the higher number is still due to the pandemic related international supply chain bottlenecks.  These are still being worked out and were further aggravated by the Russian invasion of Ukraine.

Some cynical people are actually blaming the American Recovery Act for inflation. If only people were poor enough; there would be less demand,  supply problems wouldn't matter,  and prices should be lower. Shame on them.

On your last point, isn't there an argument that can be made that giving people who were working/doing well during that time those payments contributed to inflation in certain areas? For example, people with the cash were pouring money into their houses, etc. causing issues in construction, etc. Now that may have been exacerbated by people also having cash to spend on housing repairs and upgrades because they were not dining out, going to movies and bars, on vacation etc. Add all that with shutdowns abroad, issues with just in time inventory, etc., wage hikes to get people to do crappy jobs, and you have these issues.
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murphstahoe

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Re: WTF is wrong with the left?
« Reply #2387 on: May 10, 2022, 04:26:23 PM »
Quote from: ThePAMan on May 10, 2022, 03:28:58 PM
Actually heard someone on CBS radio actually make the point that a post-Roe world could be an economic hardship on certain women.  Won't be able to work or go to school, etc. I guess no love without a glove could become a thing again.
Rapists have that tattooed on their arms
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illiniray

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Re: WTF is wrong with the left?
« Reply #2388 on: May 10, 2022, 05:12:55 PM »
Quote from: ThePAMan on May 10, 2022, 03:35:12 PM
On your last point, isn't there an argument that can be made that giving people who were working/doing well during that time those payments contributed to inflation in certain areas? For example, people with the cash were pouring money into their houses, etc. causing issues in construction, etc. Now that may have been exacerbated by people also having cash to spend on housing repairs and upgrades because they were not dining out, going to movies and bars, on vacation etc. Add all that with shutdowns abroad, issues with just in time inventory, etc., wage hikes to get people to do crappy jobs, and you have these issues.

Parts of both acts could possibly  have been targeted instead of taking a shotgun approach. I know people who got help that did not need it. Others needed it, but got zilch.

Still, the fact people were fixing their houses should have been a good thing. The problem was pandemic related supply issues, not high demand per se. In a healthy economy, high demand is desirable.

Regardless, every single Republican is blaming Biden's  fiscal policy for inflation. A few mention Trump under their breath. The more sophistricated (sic)  throw in arcane hypotheses about monetary policy. None bother to bring up impact of the alternative.

Democrats as a whole are not fighting back. Instead of squarely taking it on, they try to change the subject.
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ThePAMan

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Re: WTF is wrong with the left?
« Reply #2389 on: May 10, 2022, 05:57:34 PM »
Quote from: illiniray on May 10, 2022, 05:12:55 PM
Democrats as a whole are not fighting back. Instead of squarely taking it on, they try to change the subject.

So you are saying they are acting like Democrats.
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Custard

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Re: WTF is wrong with the left?
« Reply #2390 on: May 10, 2022, 07:22:07 PM »
There’s a strong element of collusion and price fixing going on in many industries and they’ve gotten away with blaming it on “pandemic related supply chain issues”for over two years and counting. Which is what happens when 1-3 major corporations are allowed to control entire industries.

A great many commodities are through the roof or at record highs. A big part of the problem was the constant threat of potential shortages that caused speculators to build in huge risk premiums on a lot of essential goods. Seems like something similar happened during the financial crisis in 2008.

There are relatively few actual raw materials/manufacturing shortages going on in commodities right now. Of course, freight and transportation have been a different story. It’s mostly strong demand and speculation that have kept things elevated for this long. No one wants to be short in a volatile market when any little hiccup could cause insanity.

Take for example the grain commodities. No real shortage, but food is rather important and the entire breadbasket of America is WAY behind on planting their crops this year due to the cold wet weather. To the point where yield potential starts dropping off pretty quickly even if everything from here on out goes pretty much perfectly. So the risk premium built into the market is astronomical right now and it will be an absolute bloodletting late summer or fall if the crops look to be good enough to have adequate 2023 carryover.
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ThePAMan

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Re: WTF is wrong with the left?
« Reply #2391 on: May 10, 2022, 07:28:39 PM »
Quote from: Custard on May 10, 2022, 07:22:07 PM
There’s a strong element of collusion and price fixing going on in many industries and they’ve gotten away with blaming it on “pandemic related supply chain issues”for over two years and counting. Which is what happens when 1-3 major corporations are allowed to control entire industries.

A great many commodities are through the roof or at record highs. A big part of the problem was the constant threat of potential shortages that caused speculators to build in huge risk premiums on a lot of essential goods. Seems like something similar happened during the financial crisis in 2008.

There are relatively few actual raw materials/manufacturing shortages going on in commodities right now. Of course, freight and transportation have been a different story. It’s mostly strong demand and speculation that have kept things elevated for this long. No one wants to be short in a volatile market when any little hiccup could cause insanity.

Take for example the grain commodities. No real shortage, but food is rather important and the entire breadbasket of America is WAY behind on planting their crops this year due to the cold wet weather. To the point where yield potential starts dropping off pretty quickly even if everything from here on out goes pretty much perfectly. So the risk premium built into the market is astronomical right now and it will be an absolute bloodletting late summer or fall if the crops look to be good enough to have adequate 2023 carryover.

This seems a lot different from your other posts blaming the Fed handing out checks during the pandemic. How does that fit in?
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Custard

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Re: WTF is wrong with the left?
« Reply #2392 on: May 10, 2022, 08:00:09 PM »
I’ve always been aware and have acknowledged that it’s not just a fed problem. My main hang up was people telling me that issuing trillions of dollars didn’t impact inflation. Because it did.
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ThePAMan

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Re: WTF is wrong with the left?
« Reply #2393 on: May 10, 2022, 08:01:06 PM »
Quote from: Custard on May 10, 2022, 08:00:09 PM
I’ve always been aware and have acknowledged that it’s not just a fed problem. My main hang up was people telling me that issuing trillions of dollars didn’t impact inflation. Because it did.

I'm not sure that came through in your posts on the subject. 
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illiniray

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Re: WTF is wrong with the left?
« Reply #2394 on: May 10, 2022, 08:18:09 PM »
Quote from: Custard on May 10, 2022, 08:00:09 PM
I’ve always been aware and have acknowledged that it’s not just a fed problem. My main hang up was people telling me that issuing trillions of dollars didn’t impact inflation. Because it did.

My main issue was Republicans saying that government spending  inherently causes inflation.  Government spending can stimulate demand; which can stimulate economic growth. That is not necessarily inflationary.

Same with those who claim that printing money always causes inflation. They argue that if you have more of it; then it declines in
value.  Like a commodity.
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Custard

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Re: WTF is wrong with the left?
« Reply #2395 on: May 10, 2022, 09:40:06 PM »
I really wouldn’t put a lot of stock into what Republican “news outlets” do. They take snippets of whatever and turn it into alarmist headlines to feed their agenda. 

Literally the exact same happens with Democrats. It feeds the 24 hour news cycle.

Why get outraged? It’s literally propaganda.

I don’t have a team.  Just looking at the big picture and seeing people desperately trying to fortify their own positions.
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Chickengeorge

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Re: WTF is wrong with the left?
« Reply #2396 on: May 10, 2022, 09:41:45 PM »
Fatbastard Pritzker's campaign is interesting.  Trot out a person of color who claims that because of JB, he's enjoying paying less money at the pump and at the grocery store.  Does anybody actually believe this shit?  I know that fat fuck will get re-elected, but holy shit man.  Is anybody paying attention to what is going on in this state right now?
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ILLove1997

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Re: WTF is wrong with the left?
« Reply #2397 on: May 10, 2022, 10:02:00 PM »
Quote from: murphstahoe on May 10, 2022, 04:26:23 PM
Rapists have that tattooed on their arms

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Fewer than 1% of all abortions take place because there has been rape or incest involved to create the pregnancy.
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ThePAMan

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Re: WTF is wrong with the left?
« Reply #2398 on: May 10, 2022, 10:10:41 PM »
Quote from: Chickengeorge on May 10, 2022, 09:41:45 PM
Fatbastard Pritzker's campaign is interesting.  Trot out a person of color who claims that because of JB, he's enjoying paying less money at the pump and at the grocery store.  Does anybody actually believe this shit?  I know that fat fuck will get re-elected, but holy shit man.  Is anybody paying attention to what is going on in this state right now?

No. Otherwise Pritzker would be in jail by now.

Maybe Irvin can pull off an upset, but will the Roe thing may trip him up in the primary? He does not seem like the standard culture warrior, but I can't see how his avoiding the issue helps him survive the primary. He sure is running a lot of ads on White Sox and Stanley Cup playoff games.
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ILLove1997

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Re: WTF is wrong with the left?
« Reply #2399 on: May 10, 2022, 10:10:45 PM »
Quote from: illiniray on May 10, 2022, 08:18:09 PM
My main issue was Republicans saying that government spending  inherently causes inflation.  Government spending can stimulate demand; which can stimulate economic growth. That is not necessarily inflationary.

Same with those who claim that printing money always causes inflation. They argue that if you have more of it; then it declines in
value.  Like a commodity.

turn off the fucking news and go read an econ textbook or something

supplemental federal government spending nearly always has a multiplier below 1

it is a colossal waste of money
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