Inflation

Section2

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Are we meeting wage demands here? Because if we are not there aren’t going to be too many dollars chasing too few goods.

You mix up a good word salad but it never really says anything.
New poster has all the prog lingo down pat. Who is we? You don’t have to look very hard to see wages going up.
 

bga1

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Can you imagine the horror of working class people earning more money?

bga1's point is that wages are growing more slowly than prices. I was telling him that comparing to the last year of Trump's presidency is meaningless because of the loss of so many low-wage jobs.

Ultimately, the real wage growth question comes down to inflation. If inflation stays high, wages will certainly have a hard time keeping up. The Fed and the market believe that that won't happen, and that much of the inflation is simply supply shock in specific sectors from a rapidly rejuvenated economy and base effects from price drops last year.
The loss of the low paying jobs was government imposed. Now there are 10 million open jobs because the government has decided to subsidize laziness. At some point, we will run out of money and ways to finance further nuttiness like this.

The Fed is going to say whatever it takes to keep their own boat afloat. They are about out of tools to stop inflation. I bet 3.5 trillion more in spending on BS pork will really slow down inflation -eh? ;)
 

bga1

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New poster has all the prog lingo down pat. Who is we? You don’t have to look very hard to see wages going up.
I think it is Jake and he put up a potentially tell tale post this morning....:). Jake is frustrated because his omniscient, shoot over the fence character, has lost any relevance and he is needing a sock puppet. Him calling out a Random as a sock puppet is interesting. Jake never calls out lefties.
 

GopherJake

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Using jake tactics too. No, I prefer not to turn the page to point 2 when point one still hasn’t been understood or acknowledged.
Yeah, Jake tactics, indeed. Asking Dr. $400/hr Economist to back up his big talk with a prediction. You said any prediction I make, if it were to not happen, should make me question all my views. So, let's get you on record, Snowflake. What is your prediction. Then we can see once and for all who needs to question his views. Apparently. Even though PE is completely correct, immediately above....

So what's your prediction, @Section2?
 

bga1

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I'm not sure what bga1 said. My point was in regards to your low wage workers comment. I know of countless examples where companies have had to raise wages for low wage workers just to get them in the door. Across many different industries (food, mfg, etc.). If bga1 said they haven't, then yes, he is wrong.
Everyone is raising wages...on the low end.... in response to the unemployment money that has to be competed with. Inflation is more than gobbling up those raises. If a person was making $20/hour and they are now making $21 they just got a $2000 raise. I guarantee you that clothing, food (often fast food in that world), gas, the cost of cars (used cars up 41%) auto maintenance, rent or housing is going to eat that up fast and put them worse off. People who are making 100k plus are affected, but far less, by the inflation, if they have self control- they can live well.

This is the dirty little secret about leftist/socialist politics: great promise of heart and love and we are going to take care of you. At the point of delivery the poor always end up worse off the more entitled they become. Any person with common sense understands that this is how it works in raising children. If all you do is keep them safe and serve them- they become spoiled and have a difficult time in real life. Give them responsibility and they thrive. That's just how human nature works and it works with adults the same way- many of who think like children anyway.
 


stocker08

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I just turned 63 dude. My first 1500+ posts were on a sports forum. I became familiar with many posters here from posting there. I began to read the OTB. A few years later, I started posting.

I’ve lost some interest in sports as my concern for politics rose.

Is that sufficient for you?

ROFL!!! You had about ten posts on the sports board before coming to the OTB where you posted yourself into the top fifteen all time on Gopherhole. You can say otherwise....but anyone who's been around here for a while knows that you NEVER posted on the sports boards outside of a handful of times.
 

stocker08

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Hmmmm. For years I posted exclusively on the football board. Once COVID hit I kind of lost all interest in sports. My current ratio (since the end of last football season) is likely similar to KGF. 🤷‍♂️

I do still have season tickets to the football team so maybe my interst will be rekindled this year. Who knows. I wasn't aware that this ratio mattered?

BTW - I have lived my whole life in MN and graduated from the "U".

lol. Spoof used to post on the sports board until Trump lost the election. Since then he has entirely abandon the sports board and spends his waking hours on the OTB. Just another Trumper who lost their mind.
 

Random Gopher Fan

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If you can reliably predict the future you should be in charge of a hedge fund somewhere. What’s already been done has created many dislocations in pricing. Reasonable people predict everything from future deflation to out of control inflation. I don’t know but enabling more bad behavior or the picking of winners and losers has never been a good idea, in my book.
I think this board will survive a few predictions.
 

Random Gopher Fan

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Using jake tactics too. No, I prefer not to turn the page to point 2 when point one still hasn’t been understood or acknowledged.
Point one doesn't happen and is why the markets drop if investors think inflation is going to be around awhile. Point 1 happens when Investors are willing to take a temporary real money loss if they think inflation is going to go away and the markets will improve in the near future.

This is not that hard. Try and follow along.
 




Random Gopher Fan

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New poster has all the prog lingo down pat. Who is we? You don’t have to look very hard to see wages going up.
Thus the word salad comment. Wage demands rising is not the same as wages going up. Unless you assume companies are going to give in to worker demands.

We refers to whoever is going to be paying the workers.This is not that hard people.
 

Random Gopher Fan

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It‘s probably more productive to argue abound sound monetary and fiscal policy to avoid undesirable “events”, no?

I'm under no allusions that GH is going to solve any of the worlds problems. But then again my username is not Pompous Elitist. Or is it?
 

justthefacts

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Yes, I can. Essentially the minimum wage hike that Ds have been clamouring for has happened and that isn't all duckies and bunnies no matter how much you want it to be. The price of virtually everything has increased substantially in 2021 which should be no surprise with rising costs and rising wages (a big part of rising costs). Handouts for not working, not paying rent, and not paying back loans don't help either. It's really easy to think the more the "working class" makes, the better - but reality is a lot more complicated than that.

Did you read the 3rd paragraph of my post before deleting it from the quote?
 



justthefacts

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You have no idea what the Fed and the market think will happen.

I *think* this is a post implying that the Fed is lying when they say they think inflation is transitory, but I'm not 100% sure.

As for the market, the cool part is that they actually publish several metrics that allows you to see what they're thinking, and those metrics all indicate that they think inflation is transitory. Bond yields are down to flat over the last several months, and the S&P is up over the last 1 month, 3 months, 6 months, and YTD.
 

Section2

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I *think* this is a post implying that the Fed is lying when they say they think inflation is transitory, but I'm not 100% sure.

As for the market, the cool part is that they actually publish several metrics that allows you to see what they're thinking, and those metrics all indicate that they think inflation is transitory. Bond yields are down to flat over the last several months, and the S&P is up over the last 1 month, 3 months, 6 months, and YTD.
The Fed is absolutely not honest about what they think. Is this really a groundbreaking discovery to you? You can’t be that naive.

bond yields are manipulated by the Fed. S&P is not a good gauge at all for inflation. Anything else?
 

Section2

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Thus the word salad comment. Wage demands rising is not the same as wages going up. Unless you assume companies are going to give in to worker demands.

We refers to whoever is going to be paying the workers.This is not that hard people.
It isn’t the same. And I didn’t say it was.

it’s not a collective and it almost surely doesn’t include you.
 

Section2

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Point one doesn't happen and is why the markets drop if investors think inflation is going to be around awhile. Point 1 happens when Investors are willing to take a temporary real money loss if they think inflation is going to go away and the markets will improve in the near future.

This is not that hard. Try and follow along.
Wrong.
 


Spoofin

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Did you read the 3rd paragraph of my post before deleting it from the quote?
Yes. It started with the definition of inflation and ended with your opinion of what "the fed" and "the market" believe. I chose not to comment on it and instead focus on your duckies and bunnies comment.
 


Random Gopher Fan

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I see I am missing a lot by putting the sock puppet on ignore :rolleyes:
Like I said. In the history of the internet no one has ever kept that promise. Lmao. Such snowflakery around here.

Imagine having such a lack of confidence in your intelligence you had to put someone on ignore.

At least Section isn’t afraid to be wrong and is willing to prove it here day after day.
 



Wally

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What was the price of gas? Half what it is now. The 15 year rate of inflation for gas is zero because of two things- fracking and Trump. Biden has hurt consumers- mostly people on the low end of the spectrum. Inflated wages have been gobbled up by the cost of goods and then some.
Need to add $2 gallon gas tax now!

I fully support the college REPUBLICANS plan of a refundable carbon tax to address global warming.

Biden and Trump both need to die, we need smart creative leaders. The opposite of Trump/Biden....
 
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Wally

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The increase in gas prices is also due to the attempt by the Biden administration to slow US oil production

No, remember when they ran out of place to put oil and it went negative. Well they had to shut off production and oil wells aren't like your sink, you can't just turn them off and on.🙄🙄🙄
 


Wally

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The loss of the low paying jobs was government imposed. Now there are 10 million open jobs because the government has decided to subsidize laziness. At some point, we will run out of money and ways to finance further nuttiness like this.

The Fed is going to say whatever it takes to keep their own boat afloat. They are about out of tools to stop inflation. I bet 3.5 trillion more in spending on BS pork will really slow down inflation -eh? ;)

The Fed is inflating away the Covid deficit. Its a good strategy as long as the dollar maintains its world currency status. That's where I am torn, we probably need a big military fucking with the world to maintain status quo, but that goes against my core beliefs, I can admit its a conundrum. I do enjoy the benefits of US dominance.
 

Angry

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Incorrect. Several were blatantly obvious. You are a borderline case. Lots of characteristics for sure. But actual engagement rather than pure sludge. But agreeing with @KFC is not where you want to be. He is an outlier. He has practically zero ties to Minnesota, doesn't care about the Gophers one bit, lives in Chicago and Florida, but hangs out on an obscure off-topic message board for Gopher fans. Do you find that odd? I do.
Tf? Are you the hall monitor of GH?
 






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