quick update on joe biden's economy ...

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WIldWIllieCat
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Re: quick update on joe biden's economy ...

Post by WIldWIllieCat » June 18th, 2021, 11:43 am

tmcats wrote:
June 18th, 2021, 10:03 am
there's been no collapse in the american economy, nor should anyone have expected that to happen. biden is benefiting from the "operation warp speed" covid recovery. gas prices are up ~30% from $2.33 to $2.96 nationally since january when he took office.

i must say, it's ignorant to suggest conservatives like me want america to fail. beyond ignorant, actually. i have kids trying to make a living for their families. the last thing i want is for them to face a failing economy. rubbish to that kind of talk.


https://www.eia.gov/dnav/pet/hist/LeafH ... us_dpg&f=m
you say this a lot, and people here such as myself continue to give Trump credit for green-lighting operation warp speed; it's time for a little introspection tmcats
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Post by tmcats » June 18th, 2021, 1:45 pm

facts are stubborn little things, willie.
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Post by WIldWIllieCat » June 18th, 2021, 2:08 pm

incapable?
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Post by ChemicalKat » June 18th, 2021, 3:57 pm

ToledoCat#3 wrote:
June 18th, 2021, 10:47 am
The undeniable increase in inflated prices on about everything hasn't been a bite to me yet -- but it will become one soon if inflation keep on its current pace.
Prices are falling

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Post by xtrawildcat » June 18th, 2021, 7:08 pm

Fed chair Powell said declining lumber prices indicate that inflationary pressures will be temporary.
He also said that used car prices will soon follow in lumbers path.
Lumber prices have fallen more than 43% since May's record high of over $1,700 per thousand board feet.

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Post by tmcats » June 19th, 2021, 11:56 am

there is not border crisis.
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Post by WIldWIllieCat » June 19th, 2021, 12:32 pm

xtrawildcat wrote:
June 18th, 2021, 7:08 pm
Fed chair Powell said declining lumber prices indicate that inflationary pressures will be temporary.
He also said that used car prices will soon follow in lumbers path.
Lumber prices have fallen more than 43% since May's record high of over $1,700 per thousand board feet.
Yep, I read that too.

Good news.
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Post by xtrawildcat » June 19th, 2021, 1:32 pm

WIldWIllieCat wrote:
June 19th, 2021, 12:32 pm
xtrawildcat wrote:
June 18th, 2021, 7:08 pm
Fed chair Powell said declining lumber prices indicate that inflationary pressures will be temporary.
He also said that used car prices will soon follow in lumbers path.
Lumber prices have fallen more than 43% since May's record high of over $1,700 per thousand board feet.
Yep, I read that too.

Good news.
People don't buy lumber when it is twice as high as it should be. Housing starts are delayed til lumber is back to normal.

But all of this will take a while to get supply and demand back to normal. Then we can see where inflation stands. My current guess is inflation will be high enough for the fed to start raising rates. IE: Labor costs are up and those will be nearly impossible to ratchet back down.

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Post by ToledoCat#3 » June 20th, 2021, 11:36 am

Don't see how the Fed can possibly raise interest rates much because it could push the already-too-big-to-repay federal debt into the stratosphere. But, another question, does the Fed even care if the USA goes into the economic tank?

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Post by RichardZ » June 20th, 2021, 3:42 pm

I'm beginning to think the Fed is like the weatherman. They don't have a freakin' clue and just fly by the seat of their collective pants.

Only a dunce who resides in a bunker can see prices on everything skyrocketing. Not like lumber, but have you gone to a restaurant lately? Bought gas? Shopped for a steak or two? Housing?

Now the market is reacting for a possible interest rate hike a year from now.
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