Biden claims inflation has peaked

SFGbob

Biden says he thinks it's 'the peak' of inflation crisis

By Donald Judd, CNN

Updated 3:42 PM ET, Fri December 10, 2021

https://www.cnn.com/2021/12/10/politics/biden-inflation-peak/index.html

hardhat

The adults are back in charge, so I'm sure there's nothing to worry about.

https://twitter.com/kerpen/status/1547253316807233536?s=20&t=36mTTqnlwhvxR9lqXhSxoA

SFGbob

hardhat said:

The adults are back in charge, so I'm sure there's nothing to worry about.

https://twitter.com/kerpen/status/1547253316807233536?s=20&t=36mTTqnlwhvxR9lqXhSxoA

We're led by people who have no real world experience in anything other than politics.

WestlinnDuck

SFGbob said:

hardhat said:

The adults are back in charge, so I'm sure there's nothing to worry about.

https://twitter.com/kerpen/status/1547253316807233536?s=20&t=36mTTqnlwhvxR9lqXhSxoA

We're led by people who have no real world experience in anything other than politics.

And think that Milton Friedman is no longer in charge and that magic unicorn farts can power our energy grid.

hardhat

https://twitter.com/lawyer4laws/status/1547241945612836865?s=20&t=pNLY0kq22drXcblEERvXJA

RaceBannon

Team Normal is never wrong

Bob_C

hardhat said:

https://twitter.com/lawyer4laws/status/1547241945612836865?s=20&t=pNLY0kq22drXcblEERvXJA

“Paid for” is such a red herring. Paid for is a reference to P&L. Regardless of paid for status, short term cash outflows have to happen to cover spending which means money has to be printed or brought in by bond sales. Both of which are inflationary even if eventually paid for.

hardhat

46XiJCAB

Three questions every DIM running against a Republican should be asked by the candidate.

Are you in favor of American energy independence.

Can a man get pregnant.

Are you in favor of biological boys/men competing against girls/women.

Pitchfork51

hardhat said:

I thought that was my body fat percentage scale

greenblood

He's probably right as the CPI is a lagging indicator. But we won't know for sure until the next CPI hits.

Bob_C

greenblood said:

He's probably right as the CPI is a lagging indicator. But we won't know for sure until the next CPI hits.

PPI is still a couple points higher than cpi though which suggests we aren’t to peak inflation yet.

hardhat

https://twitter.com/matthewstoller/status/1547313757226942465?s=20&t=copeRCfHW8Kh2iKap7DIEA

46XiJCAB

DIMS want to raise taxes and spend $trillions more before they can’t. It’s Hail Mary time for that shit party.

creepycoug

I will be rooting for him to be right, but expect him to be wrong, secure in the knowledge that he has no clue what he's saying. At the very best, one of his advisors does have a clue, and he'll be broken clock right about this one. Everybody should hope for that. Inflation is a bitch.

I will add in here that no admin has had the balls to turn off the free money faucet, so this little problem can be laid at the feet of many.

RaceBannon

It's justice that Biden gets the shitstorm the blue states brought us with lockdowns

They should have let Trump win

hardhat

creepycoug said:

I will be rooting for him to be right, but expect him to be wrong, secure in the knowledge that he has no clue what he's saying. At the very best, one of his advisors does have a clue, and he'll be broken clock right about this one. Everybody should hope for that. Inflation is a bitch.

I will add in here that no admin has had the balls to turn off the free money faucet, so this little problem can be laid at the feet of many.

There's plenty of truth to what you say. However, I think most of the 'outrage' is based on gaslighting about how there is no inflation, no it's transitory, maybe there is but isn't bad, if it is it's good, etc. This admin seems even more clueless and dogmatic than most.

Bob_C

hardhat said:

creepycoug said:

I will be rooting for him to be right, but expect him to be wrong, secure in the knowledge that he has no clue what he's saying. At the very best, one of his advisors does have a clue, and he'll be broken clock right about this one. Everybody should hope for that. Inflation is a bitch.

I will add in here that no admin has had the balls to turn off the free money faucet, so this little problem can be laid at the feet of many.

There's plenty of truth to what you say. However, I think most of the 'outrage' is based on gaslighting about how there is no inflation, no it's transitory, maybe there is but isn't bad, if it is it's good, etc. This admin seems even more clueless and dogmatic than most.

Amazon day one prime sales are up 8% vs last year. 83% of people said that inflation weighed on their buying decisions and have been delaying purchases until Prime Day. Anecdotally, discounting seems to be roughly in line with a normal year, 30-40% off. Sellers cover 100% of the markdown costs on Prime Day which effectively makes those sales $0 profit when you combine that with the required marketing spends to get decent placement. Lots of conflicting things going on here in terms of what this means for macro-economy, but my take is that companies have a glut of bad inventory. Otherwise why discount so heavily to make no profit especially as each new unit of inventory is costing more than the previous one?

DerekJohnson

46XiJCAB said:

Three questions every DIM running against a Republican should be asked by the candidate.

Are you in favor of American energy independence.

Can a man get pregnant.

Are you in favor of biological boys/men competing against girls/women.

Have you ever showered with your daughter?