You typed all of this instead of just saying, "you are correct."
Which is super surprising btw.
Inflation will drop 'significantly' next year, Goldman Sachs economists forecast
- Thread starter RayGravesGhost
- Start date
You typed all of this instead of just saying, "you are correct."
Which is super surprising btw.
@bradleygator is saying that these people believe or believed that crushing the job market was what had to be done...not that it had been done.
"Read better."
I agree generally that projecting the economy is guesswork. All the more reason that we should be skeptical of forecasts that are being used to justify monetary policy decisions that are going to cost a lot of people their jobs and homes.
It’s funny to me that we print money for 20 years and watch home prices go 3x and the stock market double and then when inflation kicks in we blame wages.
Wages are a part of it, but you are correct that the major causes are
a. Too Easy money from the Fed
b. Supply shortfalls here and abroad from the pandemic
c. Too much govt. spending
The Fed has to rely on forecasts but all of economics is an inexact science. They were wrong and its having a devastating effect. It’s their one job, but it seems they have become to political worrying about whatever the current administration wants.
I guess trump didn't run the cheap money, monetary expansion, and increased deficits?
Dems lost ground in the Senate?
I don't know what BradleyGator's political affiliation is...nor does it matter
trump is mentioned here simply because he was in charge of policies that immediately preceeded the rise in inflation
Would it make you feel better if I just refer to the GOP instead of mentioning trump's name? LOL
Too much government spending?
Where exactly would America be if we didn't do the government spending that was enacted?
Would you have bet on no stimulus necessary in 2021 when the vaccine was just being distributed?
Inflation sucks...a global recession would have been worse and longer lasting
I’m not saying no stimulus. Certainly much of it was necessary and the PPP loans saved a lot of businesses. But a lot was wasted on people and businesses that didn’t really need it.
I said so at the time.
Now I’m not saying no stimulus was necessary, it’s just the level of it. Both Trump and Biden loved giving away money. But I don’t think that’s the major reason for inflation. The other two I listed had a greater impact IMO.
Oh. OK
I understand what you're saying now...
I agree... I don't think the amount of stimulus is the major source
And as you say politicians love getting credit for spending
To me the major culprit for inflation is pretty simple...businesses
When COVID hit 2020 business forecasts (purchasing, production, etc) were way off understandably from
the freezing of the economy. Excess inventories and sagging demand damaged companies who couldn't quickly adapt the pandemic world.
In 2021, companies adjusted to a world view that COVID could shut the world down for years
And guess what? Companies got it wrong again.
The planned shut down (airlines fired pilots & staff...oil refiners shut operations & fired workers) of production led to negative supply side shocks
Unexpectedly there was consumer demand and companies couldn't meet it (demand side shock)
The inflation we're experiencing now is the business sector trying to make up for 2 years severely missed planning...its why prices have exploded, rents have exploded, etc
Companies have pretty much admitted to this in Congress...God Bless Rep. Katie Porter (D-CA)
I can only speak for the oil and gas industry but what you say is true. We went from 1000 rigs drilling to a record low of 250 rigs and the companies I work with laid off half their work force. We received PPP loans and something similar in Canada or else we would have gone out of business. When things resumed, it was really difficult to hire them back and many of the rigs were stacked so had to spend money to bring them back to working status. So when demand resumed, we were caught in a supply shortfall.
What happens when demand exceeds supply? Prices go up. Day rates went from $16,000 to $40,000/day which is where they are now. But workers pay also went up dramatically to encourage workers to come back to work.
So yeah, businesses are to blame but that’s the way the free market works.
More Biden disaster
US Stock Market Tumbles Thursday, Dampens Mood Ahead of Christmas Cheer
Nah just the markets realizing just how much trump's economic policies screwed up the economy
It will take some time to fix
But just remember the last democratic POTUS that had to fix a wrecked US economy caused by a republican POTUS...He won 2 terms
It will take some time to fix
But just remember the last democratic POTUS that had to fix a wrecked US economy caused by a republican POTUS...He won 2 terms
But a conservative told me the Biden economy was the worst in like a hundred years... 😲
https://www.nasdaq.com/articles/u.s.-gdp-growth-unexpectedly-upwardly-revised-to-3.2-in-q3
U.S. GDP Growth Unexpectedly Upwardly Revised To 3.2% In Q3
December 22, 2022 — 09:56 am EST
(RTTNews) - U.S. economic activity unexpectedly jumped more than previously estimated in the third quarter, according to revised data released by the Commerce Department on Thursday.
The report showed the surge in real gross domestic product in the third quarter was upwardly revised to 3.2 percent from the previously reported 2.9 percent. Economists had expected the pace of GDP growth to be unrevised.
The stronger than previously estimated growth in the third quarter came after GDP slumped by 1.6 percent in the first quarter and fell by 0.6 percent in the second quarter.
https://www.nasdaq.com/articles/u.s.-gdp-growth-unexpectedly-upwardly-revised-to-3.2-in-q3
U.S. GDP Growth Unexpectedly Upwardly Revised To 3.2% In Q3
December 22, 2022 — 09:56 am EST
(RTTNews) - U.S. economic activity unexpectedly jumped more than previously estimated in the third quarter, according to revised data released by the Commerce Department on Thursday.
The report showed the surge in real gross domestic product in the third quarter was upwardly revised to 3.2 percent from the previously reported 2.9 percent. Economists had expected the pace of GDP growth to be unrevised.
The stronger than previously estimated growth in the third quarter came after GDP slumped by 1.6 percent in the first quarter and fell by 0.6 percent in the second quarter.
The global economy is headed toward collapse, unfortunately. The elites are pushing for it as part of their 'depopulation' plan. They are opening discussing the fact that the world needs to lose 7.5 billion people.More Biden disaster
US Stock Market Tumbles Thursday, Dampens Mood Ahead of Christmas Cheer
First covid, now starvation. Sheep walk off the side of the cliff, bleating all the way to the ground.
You believe in Qanon so anything you say about the global economy is immediately ruled "fake news"
Are you still waiting on JFK Jr to return and run as trump's VP? 🤣
You can call it anything you want. You can keep jabbing your arm with covid shots while 'died suddenly' remains the leading cause of death worldwide.
You can say anything you want. The question is, can you live with your decisions?
Good luck.
I lost my aunt to COVID...also have a in-law who is a long hauler (she was a NYC nurse)
So since we're on a public message board I'll abbreviate...Go F*** yourself
No....the shot wasn't available for my aunt outside the US
No shot existed for my in-law nurse she contracted early in 2020
Probably for the best for your in-law, the side affects are pretty bad, and even the CDC admits the shot does nothing against covid.
Much of my family still lives in NY...they would disagree with you about the shot
But you're free to believe what you want... just don't stand near me
But you're free to believe what you want... just don't stand near me
Well I mean you've been busted lying about most of what you post here, so I'm sure you are lying about your 'relatives' as well.
Sorry. Lying has consequences.
malone believes in Qanon "drops"... 🤣
He'll do anything to be a sheep in the conservative herd...
He'll do anything to be a sheep in the conservative herd...
