Inflation is back. Biden should be worried

[Pressure]

 

[Ezra]

Larry Summers is a moron. Obama was an idiot for listening to him during the last recovery. A big reason why we got someone like Trump. We shouldnt be listening to him now.

The inflation we're seeing is supply shock, which isnt really technically considered inflation. It has little to do w that was passed through legislation.


Virtually all of this is due to a clog in the supply chain. We've had good from China and other export nations build up for almost a year. They all have been released and are at the ports. They cant unload the cargo fast enough. All the truck drivers and supply chain is backed up at the ports. There's no one to deliver lumber, gas, grains, corn ect. That what is accounting for the spike in prices. Lumber is expensive because they havent ramped up to full production, because they cant get anyone to bring it to market. Same w gas. Corn is expensive as hell right now, but look at corn futures. They normalize the further we get out. These are all inflationary pressures that will subside as time goes on.

The big issue is the microchip shortage. That's why cars and appliances are rising. There's no getting around that one. But again, nothing to do w demand side. This is all supply side issues. People who are saying it's because of the UI benefits or stimmy checks are basing that on poor economics that even the idiot Austrians agree on.

 

[Godless Socialist CEO]

Larry Summers is a moron. Obama was an idiot for listening to him during the last recovery. A big reason why we got someone like Trump. We shouldnt be listening to him now.

The inflation we're seeing is supply shock, which isnt really technically considered inflation. It has little to do w that was passed through legislation.


Virtually all of this is due to a clog in the supply chain. We've had good from China and other export nations build up for almost a year. They all have been released and are at the ports. They cant unload the cargo fast enough. All the truck drivers and supply chain is backed up at the ports. There's no one to deliver lumber, gas, grains, corn ect. That what is accounting for the spike in prices. Lumber is expensive because they havent ramped up to full production, because they cant get anyone to bring it to market. Same w gas. Corn is expensive as hell right now, but look at corn futures. They normalize the further we get out. These are all inflationary pressures that will subside as time goes on.

The big issue is the microchip shortage. That's why cars and appliances are rising. There's no getting around that one. But again, nothing to do w demand side. This is all supply side issues. People who are saying it's because of the UI benefits or stimmy checks are basing that on poor economics that even the idiot Austrians agree on.

i just see the part in bold as another form of class warfare by the elites and corporations. Larry Summers is simply a mouth piece for those people.

 

[Ezra]

i just see the part in bold as another form of class warfare by the elites and corporations. Larry Summers is simply a mouth piece for those people.

Economics is the story of who gets what, and why. There's a whole school of theory built around the end goal of keep the haves and have nots. We've seen nearly all of the 'assumptions' of the Austrian/Freidman school of thought be disproven.

 

[Apollo Creed]

I can’t wrap my head around people being surprised costs are increasing after going down due to COVID. Not to mention this is also the private sectors fault. They lost a ton of truck drivers and don’t have the manpower to meet demand, but somehow this is Biden’s fault and not the past administration for u know... ignoring COVID until it was too late.

remember guys giving money away to corporations is cool but giving money to people is evil. We live in the stupidest fukking country

Also people who call CNN left wing should be fed into a wood chipper. They’re constantly producing right wing chud fuel

what caused the loss in truck drivers?

 

[choc_cardigan]

Also people who call CNN left wing should be fed into a wood chipper. They’re constantly producing right wing chud fuel

This

 

[Ezra]

what caused the loss in truck drivers?

A lot of truck drivers were let go last year due to lack of need with everything on the production side being shut down. A lot have not bothered to come back. It's a aging work force and there isnt a ton of young people to fill in because everyone talks about how it is a dying industry due to automation and driverless technology.

 

[Godless Socialist CEO]

Economics is the story of who gets what, and why. There's a whole school of theory built around the end goal of keep the haves and have nots. We've seen nearly all of the 'assumptions' of the Austrian/Freidman school of thought be disproven.

Chicago School of Economics

 

[ogc163]

U.S. Inflation Is Highest in 13 Years as Prices Surge 5%

 

[hashmander]

U.S. Inflation Is Highest in 13 Years as Prices Surge 5%

Gus Faucher, chief economist at PNC Financial Services Group, said that sharp rises continue to be concentrated in parts of the economy that were most whipsawed by the pandemic—in prices for used cars, airfares and hotel stays, for example.

“That suggests that this is part of the dislocation from the reopening, and I would expect that…inflation will settle down later this year,” Mr. Faucher said. “When you take a step back and look broadly at inflation throughout the economy, there are lots of areas where prices move very slowly, and it’s going to take a lot to get a sustained acceleration beyond these temporary factors.”

 

[ADevilYouKhow]

 

[hashmander]

 

[Godless Socialist CEO]

My favorite part about the “inflation!!!!!” People is they don’t actually know what happened in countries that ended up with hyper inflation

 

[ogc163]

 

[the cac mamba]

seems like a pretty bad indictment of socialism tbh

it was cool when we were printing all that money. not so cool now, though