President Joe Biden

Grace T. said:
I had a roadside emergency near a busy freeway interchange a few weeks ago. It happened at 7:30 pm on a workweek. I managed to get over to the shoulder and call AAA. Firstly, it tried to route me to the stupid app which I don't carry on my phone or to log on and leave a chat message with the autobot. It being not an entirely safe area on the freeway, I declined to go automated and so had to wait 20 minutes to get a real person. Because I was disabled on the freeway, it was labelled a "priority" service. The priority service took until 10:30 to arrive. I'd never experienced such a delay before using AAA so was shocked by how long it was taking.

A very nice Highway Patrol officer pulled in to check on me and to block off traffic to enable me to get the car to a safer location. He didn't want to leave me in the now safer place on the freeway alone. He explained that the city tow trucks go off duty at 7 so a 3 hour wait was just about right. The tow companies have been unable to fill the private slots (so there's a shortage) because no one wants to work the odd hours for the amount of money they are offering....those people that they have are insisting working the mornings and afternoons. The surge in traffic and the staffing shortages means its impossible to get a tow truck even for a priority service from 7-10 weekday evenings and God help you if you have a problem Sunday evening when vacation traffic is returning.

Only two things can return that market to equillibrium. Either they start charge massive surge pricing for those hours that motivates people to sign up to work the hours (which in turn increases the money supply). Or economic activity falls and people are forced to work those hours if they want the job.
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If you take money from one pocket and put it in another you have not increased the money supply.

Even Izzy gets that right.
 
espola said:
If you take money from one pocket and put it in another you have not increased the money supply.

Even Izzy gets that right.
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Fine. Imprecise language on my part. If wages rise (because employees are demanding it to keep up with the rising costs of goods and services), that effect can be inflationary, because it creates an ever rising cycle between the goods and services going up, and employees demanding their wages rise to keep up. The only thing you are doing is devaluing the currency and creating an inflationary spiral. (It's also more complicated than that...wages tend to be sticky in both directions...but how sticky is a sign about how inflationary things are). That's why recessions work to tame inflation....people are forced to take jobs they otherwise might not want and have less money to spend on goods and services. A healthy labor market with low unemployment is not necessarily a good thing if you are trying to tame inflation. To where we began, it's either: a. a lagging indicator that the labor market will slow later in time, or b. a signal that we haven't done enough to achieve the so-called "soft landing". Inflation doesn't go away without pain.
 
crush said:
That's what I was thinking bald ref. Watty takes care of his workers and that is a good thing.
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Well, we can afford to do it. Most businesses will do the same if they can afford to, unlike how many business owners are portrayed. Unfortunately, many small businesses can't.
 
The latest is in some really Ministry of Truth stuff the Biden White House is claiming we have 0% inflation because inflation didn't escalate from 8.5% YOY. In other words, the truth is inflation didn't inflate (i.e., accelerate), not we have 0% inflation. It's partially good news....mostly due to the decline in gas prices....but I noted that the thing you need to watch if the food numbers and they are up...more confirmation we are missing the so-called "soft landing" because the money supply hasn't been contracted enough. If true, the worst is still to come, but I'm not prepared to say yet that's for sure what's happening.



https://twitter.com/i/web/status/1557372486244868098
 
Grace T. said:
The latest is in some really Ministry of Truth stuff the Biden White House is claiming we have 0% inflation because inflation didn't escalate from 8.5% YOY. In other words, the truth is inflation didn't inflate (i.e., accelerate), not we have 0% inflation. It's partially good news....mostly due to the decline in gas prices....but I noted that the thing you need to watch if the food numbers and they are up...more confirmation we are missing the so-called "soft landing" because the money supply hasn't been contracted enough. If true, the worst is still to come, but I'm not prepared to say yet that's for sure what's happening.



https://twitter.com/i/web/status/1557372486244868098
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Have you been taking math advice from Izzy? This looks like his level of understanding of percentages.
 
Grace T. said:
:D :D :D :D :D :D :D :D :D :D :D :D :D :D :D

You know, right, even in the best of times the economy, short of a massive deflationary event (like the great depression) doesn't have 0% inflation?

:p:p:p:p:p:p:p:p:p:p:p:p:p:p:p:p:p:p
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The major impact to bring inflation to 0% in July was the decline in gasoline prices which you would know if you read more than just the headline.
 
espola said:
The major impact to bring inflation to 0% in July was the decline in gasoline prices which you would know if you read more than just the headline.
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I swear this is the funniest thing you've ever written. It's just gone completely whooosh over your head! I really do love yah. Yah made my day. Thanks for that.

:D :D :D :D :D :D :D :D :D :D :D :D :D :D :D :D :D
 
Grace T. said:
:p :p :p :p :p :p :p :p :p :p :p :p :p :p :p :p :p
Stop it......you're killing me!!!!!!
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In proper economic theory, the terms "inflation" and "deflation" refer to the money (and equivalents) in circulation. What is commonly referred to as "inflation" by the popular press (and you also, depending on which foot you are standing at the moment) is actually the Consumer Price Index, which is measured monthly.

I now return control of this channel to Izzy and friends.
 
espola said:
In proper economic theory, the terms "inflation" and "deflation" refer to the money (and equivalents) in circulation. What is commonly referred to as "inflation" by the popular press (and you also, depending on which foot you are standing at the moment) is actually the Consumer Price Index, which is measured monthly.

I now return control of this channel to Izzy and friends.
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a. I really don't think Biden was referring to the money supply here. That's just disingenous on your part.
b. If he's referring to just the money supply (as opposed to prices) it was (at least before the Inflation Reduction Act was passed) actually less than zero because the fed is contracting the money supply so it is moving in a negative direction
c. If you want to get technical, it's actually when the market for money (interest rates on the y, demand for money on the x), otherwise known as D, shifts rightward.
d. But don't gas light. We all know what's meant. From wikipedia, "In economics, inflation is a general increase in the prices of goods and services in an economy". First sentence. We all know what he did...he "confused" the rate of acceleration (or in more technical terms, the delta of the D) with the rate itself YoY.
e. The fact the media is running with it is some real ministry of truth stuff. "There is no inflation!!!!"
f. There's no pretzel you won't shift yourself into is there? You are out there swimming just joshing it up and before you know it you just cramped up and sank to the bottom. It's been a ton of amusing to watch.
:D
 
Grace T. said:
a. I really don't think Biden was referring to the money supply here. That's just disingenous on your part.
b. If he's referring to just the money supply (as opposed to prices) it was (at least before the Inflation Reduction Act was passed) actually less than zero because the fed is contracting the money supply so it is moving in a negative direction
c. If you want to get technical, it's actually when the market for money (interest rates on the y, demand for money on the x), otherwise known as D, shifts rightward.
d. But don't gas light. We all know what's meant. From wikipedia, "In economics, inflation is a general increase in the prices of goods and services in an economy". First sentence. We all know what he did...he "confused" the rate of acceleration (or in more technical terms, the delta of the D) with the rate itself YoY.
e. The fact the media is running with it is some real ministry of truth stuff. "There is no inflation!!!!"
f. There's no pretzel you won't shift yourself into is there? You are out there swimming just joshing it up and before you know it you just cramped up and sank to the bottom. It's been a ton of amusing to watch.
:D
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Here is what "the media" is saying today --

www.cnn.com

Here's what's getting more expensive at the grocery store

Inflation may be slowing overall, but food prices are still sky-high.
www.cnn.com www.cnn.com
 
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