Re: Why inflation may be worse than you think it is
Posted: Mon Jan 22, 2024 10:00 pm
Itll look funny in the history books a hundred years from now
Conquer Club, a free online multiplayer variation of a popular world domination board game.
http://www.tools.conquerclub.com/forum2/
http://www.tools.conquerclub.com/forum2/viewtopic.php?t=236960
We have people here who think they have all the answers, go back and look a year ago at what all the Republicans and conservatives were saying about Biden and the economy and inflation. They still refuse to acknowledge how they were wrong and are still wrong.so you all want a dictator for life in office? smh and is amazed at how deep the rabbit hole is
And recently Trump and his lawyers claim all presidents, but Trump especially, are above the law and cannot be prosecuted for any illegal act they do as president, including sending SEAL TEAM 6 after political opponents, unless they are impeached first.Trump has been releasing policy papers and videos on what he calls “Agenda 47” for months, and he and his advisers are openly bragging about their radical plans for a second term. Some of the worst elements of Trump’s first-term agenda were thwarted by scrupulous government officials, legal challenges, and the Trump team’s general ineptitude. But the former president and his well-funded allies in the conservative movement are already working to make sure they’ll be more successful if he winds up back in the White House.
Hours after he was indicted on 37 criminal counts for allegedly mishandling classified documents in July, Trump took to Truth Social to announce his plan to appoint a special prosecutor to go after Joe Biden and the “entire Biden crime family.”
In private, Trump has told advisers and friends in recent months that he wants the Justice Department to investigate onetime officials and allies who have become critical of his time in office, including his former chief of staff, John F. Kelly, and former attorney general William P. Barr, as well as his ex-attorney Ty Cobb and former Joint Chiefs of Staff chairman Gen. Mark A. Milley, according to people who have talked to him, who, like others, spoke on the condition of anonymity to describe private conversations. Trump has also talked of prosecuting officials at the FBI and Justice Department, a person familiar with the matter said.
John Kelly, a former Trump White House chief of staff, told the paper that he fully expects Trump to target him if reelected, as he’d frequently suggest using the DOJ to persecute his enemies in his first term. “There is no question in my mind he is going to go after people that have turned on him,” he said.
https://www.independent.co.uk/news/worl ... 77378.htmlDonald Trump appeared to endorse the idea that he should have immunity from ordering the assassination of political opponents, which was put forward by his lawyers earlier this week.
During arguments in a Washington DC courtroom on Tuesday, Trump attorney D John Sauer, was questioned on whether, hypothetically, a president could order the killing of a rival by the US military and be immune from any legal consequences.
Mr Saur said that prosecution would only be allowed following impeachment and a conviction by the Senate.
A hundred years from now?? That will be after the AI Singularity.DirtyDishSoap wrote:Itll look funny in the history books a hundred years from now
Think it would be quite possible with his fast food diet and his mental state in heavy decline. Doubt he will make it far past 80.Dukasaur wrote:I hate Trump as much as anyone, but even I'm not worried that he'd have any chance to be dictator for life. He doesn't have any real policy agenda, just wants his ego fed.lokisgal wrote:so you all want a dictator for life in office? smh and is amazed at how deep the rabbit hole is
From the moment I understood the weakness of my flesh, it disgusted me. I craved the strength and certainty of steel. I aspired to the purity of the Blessed Machine. Your kind cling to your flesh, as though it will not decay and fail you. One day the crude biomass you call the temple will wither, and you will beg my kind to save you. But I am already saved, for the Machine is immortal… Even in death I serve the OmnissiahVotanic wrote:A hundred years from now?? That will be after the AI Singularity.DirtyDishSoap wrote:Itll look funny in the history books a hundred years from now
At that point, the concept of funny* will only exist as a machine-program simulation.
*And this is regardless of whether either funny-humorous or funny-peculiar was intended. Basically, 'same diff'.

DirtyDishSoap wrote:From the moment I understood the weakness of my flesh, it disgusted me. I craved the strength and certainty of steel. I aspired to the purity of the Blessed Machine. Your kind cling to your flesh, as though it will not decay and fail you. One day the crude biomass you call the temple will wither, and you will beg my kind to save you. But I am already saved, for the Machine is immortal… Even in death I serve the OmnissiahVotanic wrote:A hundred years from now?? That will be after the AI Singularity.DirtyDishSoap wrote:Itll look funny in the history books a hundred years from now
At that point, the concept of funny* will only exist as a machine-program simulation.
*And this is regardless of whether either funny-humorous or funny-peculiar was intended. Basically, 'same diff'.
jusplay4fun wrote:And MORE on the US Economy:
https://www.heritage.org/budget-and-spe ... ns-economySpoiler
[size=150]The Truth About Joe Biden’s Economy[/size] Americans are feeling the pain at the pump and at the grocery store. Inflation is at a 40-year record high. Yet, President Joe Biden and his administration say that the economy is better than ever. Americans are feeling the pain at the pump and at the grocery store. Inflation is at a 40-year record high. Yet, President Joe Biden and his administration say that the economy is better than ever. This week, Distinguished Visiting Fellow Stephen Moore explains the truth about Joe Biden’s economy. (...) Moore: Well, I think first of all, this really suggests that the people in the White House are just out of touch with what's going on in real America. We've always talked about Washington being a bubble, where politicians of both side of the aisle are just not in touch with what's happening in main street America. And this is a really a picture perfect example of that, where it's laughable and it's actually insulting for the Biden administration to tell people who are seeing their incomes being ravaged by the highest inflation rate in 40 years. Moore: You see there was a study that came out recently that a lot of families are really having to cut back and even the essentials that they buy because their incomes are falling relative to the price of everything from gasoline to buying milk and all the other things that people have to buy, rent. Moore: [size=150]And so it's not a good economy. 82% of Americans, according to New York Times poll, and they're hardly on the right, Americans say the country's headed in the wrong direction. [/size]And it is. It is headed in the wrong direction. We've got the high gas prices. We have a situation now where I believe we're in a, what I call a soft recession, where the last two quarters have been negative, now only a little bit negative, but still that's officially in a recession. (...) Moore: And then the fact is that I was looking at credit card data, Americans aren't saving, they're dis-saving, [size=150]they're running up their credit card so they can pay their bills[/size]. So that is another one that it just doesn't comport with reality. Moore: Look, the job market is good right now. It is good. And there are jobs out there. So my advice to people, if you're been sitting on the sideline for two years, like a lot of people have throughout COVID, now would be a good time to get a job while they're still available. Job growth is definitely slowing. And so over the last three months, we've seen there's fewer Americans working today than there were three months ago. Moore: And I think we're all a little puzzled. Even the economics team here at Heritage, we have a lot of discussions about why is this happening? [size=150]Why aren't Americans filling the jobs that are out there? And I do think the government benefits is a big part of this, that we're paying people not to work.[/size] Moore: And one of the things, I mean, the people regulars here at Heritage know that Heritage played such a big role in the 1990s on the historic welfare reforms, where we required people to work to get benefits. We all believe in a safety net, but you have to either be working or looking for a job or getting training. Moore: And people should realize that under Obama, then especially so under Biden, we've eviscerated all of those. Almost all of the work requirements are gone. And so you've got people who can get rental assistance, food stamps, free healthcare, $300 a week per child benefits, unemployment benefits, all of these things. [size=150]And they add up to, and by the way, this is all tax free, without working an hour, you can make 70, $75,000 a year. So we have to get back to the idea of work fair.[/size] Cordero: [size=150]So you're saying, going back to the question that the job market is growing, but that's due to the circumstances left over from the pandemic.[/size] Moore: Yeah, exactly. [size=150]We're still a little bit below where we were in 2019. We haven't still fully recovered.[/size] Moore: And the other part of this, Michelle, that's really interesting that we've been doing a lot of work on here at Heritage, is looking at the difference between [size=150]what's happening in the red states and the blue states.[/size] So Republican governors handled COVID much, much better than the blue states did. They kept their schools open. They allowed their businesses where possible to stay open, whereas the blue states just shut down. Moore: And so even to this day, the red states have lower unemployment rates. They have healthier businesses. And so it is also a kind of a tale of two countries. The job market is pretty good in the red states and in the blue states, you still have a lot higher unemployment. (...) Cordero: [size=150]So the left is spinning that then by acting like wages are up is a good thing. Forget about the fact that inflation is up.[/size] Moore: Yeah. Because we want to look at the purchasing power of your wages. And so that's way down. And so we've got to get the inflation rate down. I mean, I want to make this point crystal clear, until we get this inflation rate down, inflation like a cancer, it just kills an economy. You see that throughout American history, you see it in other countries. So we got to, job number one is get that inflation rate down to at least, right now we're at eight and a half percent, we got to get down to no more than four and then get it back down to about the 2% range you want it at. Moore: And so the Fed has been way behind the curve on this. But another point we've been making at Heritage to all the members of Congress and the people in the policy making positions is the match that lit the forest fire of this high inflation was the runaway spending that happened. [size=150]And it was the last year of Trump and the first year and a half of Biden where we spent three and a half trillion dollars we didn't have.[/size]
https://www.nytimes.com/2024/01/18/opin ... y%20areas.As the United States prepares for a deeply polarized election, perception matters. Throughout 2023 polls showed inflation as being voters' biggest economic concern. Similarly, President Biden receives lower support for his handling of the economy than of other policy areas.
The United States has just experienced one of the biggest collapses in consumer inflation in modern history. In June 2022 consumer prices had risen 9.1 percent over the previous year. By December 2023 the rate of increase had slowed to 3.4 percent. And yet, in survey after survey, voters still declare inflation to be at or near the top of their list of concerns.
Why aren’t voters recognizing the decline in the inflation rate? (...)
Unfortunately for the Biden administration, however, food prices are still rising — a fact evident at every supermarket checkout. Less than a tenth of an average household’s budget is spent at the supermarket, but the prices paid there dominate the inflation perception of the consumer. The result is that consumers perceive inflation as higher than it actually is.
This is not an uniquely American phenomenon.
https://tradingeconomics.com/united-sta ... e%20index.Services Inflation in the United States decreased to 4.94 percent in January from 4.95 percent in December of 2023. In the United States services inflation accounts for 57% of a consumer price index.



Inflation is a lagging indicator also, yet all I've heard from you for the last 3+ years is how Bidens policies are the cause of inflation. Can't have it both ways, either you accept that the huge spike in inflation in 2021/22 are due to Trumps policies (tax cuts + massive increases in gov't spending even prior to pandemic emergency spending), or you blame it all on Biden but give him credit for returning inflation to a normal range in 23/24 while increasing both the number of jobs and wage increases during a time period the FED chair himself was saying it may be impossible to do both. Or I guess you can just cherry pick the information you already want to believe and ignore the facts that disagree with your viewpoint, but then you aren't a conservative anymore you are just Trump supporter.jusplay4fun wrote: And you realize that jobs are a LAGGING indicator, RIGHT?
And yet you IGNORE my data showing that your statement (data) on job creation giving ALL this wonderful credit is the work and Brilliance of Biden is simply NOT TRUE.mookiemcgee wrote:Inflation is a lagging indicator also, yet all I've heard from you for the last 3+ years is how Bidens policies are the cause of inflation. Can't have it both ways, either you accept that the huge spike in inflation in 2021/22 are due to Trumps policies (tax cuts + massive increases in gov't spending even prior to pandemic emergency spending), or you blame it all on Biden but give him credit for returning inflation to a normal range in 23/24 while increasing both the number of jobs and wage increases during a time period the FED chair himself was saying it may be impossible to do both. Or I guess you can just cherry pick the information you already want to believe and ignore the facts that disagree with your viewpoint, but then you aren't a conservative anymore you are just Trump supporter.jusplay4fun wrote: And you realize that jobs are a LAGGING indicator, RIGHT?
https://www.msn.com/en-us/news/politics ... over&ei=16Donald Trump continues to have a low favorability score among Americans, new polling shows, despite being the likely Republican nominee after winning the lion's share of primaries and seeing off his only remaining rival.
An ABC News/Ipsos survey of 536 U.S. adults, conducted between March 8-9, found that 29 percent have a favorable view of the former president compared to 59 percent who view him unfavorably.
The same ABC/Ipsos poll found that President Joe Biden, who is on course to be renominated by the Democratic Party, is also viewed as similarly unpopular, though his unfavorability rating is slightly lower.
Some 33 percent viewed the incumbent favorably to 54 percent who viewed him unfavorably. In November, a similar poll put his unfavorability rating at 50 percent with his favorability unchanged, while in prior polls the two ratings have modulated around the same numbers.
(...)
Neither candidate is viewed as more popular than unpopular, recent polling has consistently shown, with more people disapproving of both than approving. Analysts have said that both will struggle to entice voters to turn out for the election due to their disenchantment with the choice of candidates.
The latest ABC/Ipsos poll found that 36 percent thought Trump was trusted to do a better job as president to 33 percent who thought Joe Biden would—but 30 percent thought neither would.
https://www.washingtonpost.com/business ... -compared/Despite the economy’s rapid recovery from the pandemic, President Biden has struggled to convince Americans that his policies are improving their finances. In polls, the majority of Americans still say they trust former president Donald Trump’s handling of the economy over Biden’s.
https://www.msn.com/en-us/news/politics ... 95d8&ei=29The Washington Examiner’s Byron York noted that President Joe Biden’s rhetoric concerning the economy is not resonating with the public.
“You can’t talk of an economy that feels bad for people,” York told Special Report with Bret Baier. “And the price of food, and the price of housing, and the scarcity of housing are something that are making — those are very fundamental things that everybody has to have. And they’re still making people feel bad.”
York’s comments come as the Bureau of Economic Analysis announced Friday that inflation rose to a 2.5% annual rate in February, which was one-tenth of a percentage point from the previous reading.
York confirmed the sentiment of recent Fox polling that showed people do not believe they are better off today than they were four years ago.
“Almost everybody, a large majority says, ‘No, we’re not,’” York added. “President Biden can talk all he wants, but he just can’t overcome that feeling that people have.”
https://www.msn.com/en-us/money/other/c ... kbar&ei=16Another California small business and its workers have seemingly suffered at the hands of the state’s newly enacted $20 minimum wage.
"It's a shock," Monica Navarro, former assistant general manager at Foster’s Freeze in Lemoore, said on "The Bottom Line" Wednesday.
"It would have been nice to have a notice so we could go get some applications [out], I could prepare them," she continued. "The best I can do is honestly give them some references."
When making their way to work Monday morning, Navarro and her team learned upon arrival that the restaurant owner had made the decision to close its doors for good. The owner, Loren Wright, told local Fox affiliate KMPH that this was the "last thing" they wanted to do, but knew by Friday night the business likely wouldn’t be able to absorb the wage hike and didn’t "want to ruin their Easter Sunday."
(...)
"From the people that I spoke to, my employees, we would have rather stayed at the wage that we did have before, just because now we don't have a job," Navarro said. "And those who are still working in the areas around us that went up to $20 an hour, they got their hours severely cut. And it's a lot less people working on shifts. So their jobs got a lot more difficult."
In your small bubbly bath where you play battleship and win every time...anyone with a different opinion than yours is STUPID and IGNORANTjusplay4fun wrote:More stupid, liberal policies are passed as LAWS because these liberals do not comprehend Economics. They do not run an actual business, having to meet a payroll and pay bill and TRY to turn a profit. They are often government workers, at a government job at the state or federal level, or on a university dependent on federal subsidies and/or federally guaranteed loans.
Here is one example. And who is the likely Democrat to next run for POTUS (at this time)? The current governor of the state who PASSED this silly and anti-business statute, Gavin Newsom.
https://www.msn.com/en-us/money/other/c ... kbar&ei=16Another California small business and its workers have seemingly suffered at the hands of the state’s newly enacted $20 minimum wage.
"It's a shock," Monica Navarro, former assistant general manager at Foster’s Freeze in Lemoore, said on "The Bottom Line" Wednesday.
"It would have been nice to have a notice so we could go get some applications [out], I could prepare them," she continued. "The best I can do is honestly give them some references."
When making their way to work Monday morning, Navarro and her team learned upon arrival that the restaurant owner had made the decision to close its doors for good. The owner, Loren Wright, told local Fox affiliate KMPH that this was the "last thing" they wanted to do, but knew by Friday night the business likely wouldn’t be able to absorb the wage hike and didn’t "want to ruin their Easter Sunday."
(...)
"From the people that I spoke to, my employees, we would have rather stayed at the wage that we did have before, just because now we don't have a job," Navarro said. "And those who are still working in the areas around us that went up to $20 an hour, they got their hours severely cut. And it's a lot less people working on shifts. So their jobs got a lot more difficult."
These incompetent politicians do not realize or ignore the fact that increasing the minimum wage will cause:
1) a few worker to benefit;
2) many workers will be laid off,
3) many workers will have their hours cut back;
4) the remaining workers have to do more (work harder) with fewer workers;
5) many small businesses to close (and thus those workers LOSE their jobs);
6) companies to accelerate their rate of replacing workers with technology.
All these cause the workers at these minimum wage jobs to SUFFER OVERALL, including job loss. This has been discussed in economic circles for at least 40 years and these silly Liberal fail to learn that lesson, AGAIN. California merely proves these predictions and analyses CORRECT.

I 100% agree, and think it should be industry agnostic.HitRed wrote:I think min. wage should be set county by county.