What is Federal Reserve Chairman Jerome Powell going to do today? Meeting at 2:30 EST

[shadrap 164]

1 hour ago, Fnord said:

JFC. I buy organic ground beef and that's only like $7.99/lb. If you're paying that much, inflation ain't the problem Tony. Your own stupidity and elitism is. HTH.

so your only paying double what it was in 2020.  Good job.

[OldMaid 2,108]

Just a couple of things…

Organic beef? Grass fed, yes, but is organic really helpful here?

Security tags on food? Where the fock do some of you people live? I’m in L.A. and I don’t think that a thing-even in Compton. SMH

[thegeneral 2,490]

Just paid 21 bucks for 2 medium sized New York Strips. Fock hamburger!

[Horseman 1,986]

22 minutes ago, OldMaid said:

Organic beef? Grass fed, yes, but is organic really helpful here?

Right.  That's by far the dumbest thing in this entire thread.  

[jerryskids 6,165]

1 hour ago, thegeneral said:

All the financial gurus of the Geek Club telling the Fed what’s up is comedy gold.

I believe it has been said, but lowering rates generally encourages spending (which raises prices) and discourages savings.  I wouldn't say I'm an expert, but I have an MBA and understand the basic macroeconomics.  

[jerryskids 6,165]

Also, I have no idea what ground beef costs here, because I have a wife to do food shopping.   

[thegeneral 2,490]

8 minutes ago, jerryskids said:

I believe it has been said, but lowering rates generally encourages spending (which raises prices) and discourages savings.  I wouldn't say I'm an expert, but I have an MBA and understand the basic macroeconomics.  

I hope JP and the boys down at the Eccles Building have access to this info!

[jerryskids 6,165]

2 minutes ago, thegeneral said:

I hope JP and the boys down at the Eccles Building have access to this info!

Well, they know it, it's basic macroeconomics which you might not know, yet they are acting to lower rates precipitously.  You could continue to troll about it, or ask yourself why they are doing it regardless.  I don't hold out much hope for you tho.

 

[HotRod 35]

1 hour ago, Horseman said:

You'd think.  But when inflation soared the undesirables came into the good neighborhoods and started filling up grocery carts and just walking out with them. They even bring their kids with them.  Because under lib policy they don't ever get arrested or charged, especially for shoplifting. The laundry detergent is behind plexiglass now.  

Must be CA.  Everything is free under a G.

[thegeneral 2,490]

17 minutes ago, jerryskids said:

Well, they know it, it's basic macroeconomics which you might not know, yet they are acting to lower rates precipitously.  You could continue to troll about it, or ask yourself why they are doing it regardless.  I don't hold out much hope for you tho.

I think they have a good idea of what they are doing. The system is always rigged to hurt the GOP! Poor lot.

[Horseman 1,986]

5 minutes ago, thegeneral said:

I think they have a good idea of what they are doing. The system is always rigged to hurt the GOP! Poor lot.

Dance monkey, dance!

[thegeneral 2,490]

How have interest rate cuts in election years worked out for the incumbent in prior elections?

[Sean Mooney 1,815]

So here on the Geek Club we've been told don't raise interest rates, and now don't lower them...

 

Sound logic all around. 

[Horseman 1,986]

14 minutes ago, Sean Mooney said:

So here on the Geek Club we've been told don't raise interest rates, and now don't lower them...

 

Sound logic all around. 

Wrong.  People with money don't mind high interest rates.  And it absolutely had to be done when inflation soared.  You have a link to one person that said don't raise interest rates after inflation started going out of control?  

No, didn't think so.  You just say stuff. 

[shorepatrol 1,828]

1 hour ago, jerryskids said:

Also, I have no idea what ground beef costs here, because I have a wife to do food shopping.   

Me too, but I get to hear her b!tching how much more focking expensive EVERYTHING is. I do know my electric bill has gone from 600ish during the summer to over 800 the last 2 years though. Not a single one of the idiot libs here think that's happening due to bad policy. Focking TDS has ruined them  

[Hardcore troubadour 14,163]

28 minutes ago, Horseman said:

Wrong.  People with money don't mind high interest rates.  And it absolutely had to be done when inflation soared.  You have a link to one person that said don't raise interest rates after inflation started going out of control?  

No, didn't think so.  You just say stuff. 

You forgot stupid. He says stupid stuff.  

[IGotWorms 4,021]

1 hour ago, Horseman said:

Wrong.  People with money don't mind high interest rates.  And it absolutely had to be done when inflation soared.  You have a link to one person that said don't raise interest rates after inflation started going out of control?  

No, didn't think so.  You just say stuff. 

Lots of you b2tched about the high rates. But I do believe that for some of you, that was bad faith and you did in fact know better

[supermike80 1,599]

Personally im ok with higher rates cause i have no debt and savings.

From a business perspective, high rates create challenges

[Sean Mooney 1,815]

1 hour ago, Hardcore troubadour said:

You forgot stupid. He says stupid stuff.  

Again is this where you are going to cry because I follow you around the board? Were you jealous that I wasn't paying attention to you? 

10 minutes ago, IGotWorms said:

Lots of you b2tched about the high rates. But I do believe that for some of you, that was bad faith and you did in fact know better

Of course they did. 

[Hardcore troubadour 14,163]

3 minutes ago, Sean Mooney said:

Again is this where you are going to cry because I follow you around the board? Were you jealous that I wasn't paying attention to you? 

Of course they did. 

You respond every time I mention you. Every time lol. 

[Sean Mooney 1,815]

Just now, Hardcore troubadour said:

You respond every time I mention you. Every time lol. 

That's right....I forgot you don't understand how conversations work when you passively aggressively mention people. We established that numerous times. 

[Hardcore troubadour 14,163]

10 minutes ago, Sean Mooney said:

That's right....I forgot you don't understand how conversations work when you passively aggressively mention people. We established that numerous times. 

There was nothing passive about me pointing out that you say stupid stuff. I don’t think you know what passive aggressive means. 

[Sean Mooney 1,815]

8 minutes ago, Hardcore troubadour said:

There was nothing passive about me pointing out that you say stupid stuff. I don’t think you know what passive aggressive means. 

No I do. You don't understand what it means...similar to everything else you don't understand. 

[Hardcore troubadour 14,163]

16 minutes ago, Sean Mooney said:

No I do. You don't understand what it means...similar to everything else you don't understand. 

So how would calling what you say is stupid be considered passive? Concentrate on the words. 

[Horseman 1,986]

1 hour ago, IGotWorms said:

Lots of you b2tched about the high rates. But I do believe that for some of you, that was bad faith and you did in fact know better

Just one link of me complaining about high rates. You cant.

Like I said people flush with cash, maxed out retirement accounts, tax sheltered every limit love a place to stick several hundred thousand making 5% guaranteed. It's like having insurance and getting paid for it.  

[Horseman 1,986]

8 minutes ago, Hardcore troubadour said:

So how would calling what you say is stupid be considered passive? Concentrate on the words. 

English teacher 

[Sean Mooney 1,815]

7 hours ago, Hardcore troubadour said:

So how would calling what you say is stupid be considered passive? Concentrate on the words. 

Quoting someone's words about me without directly addressing me is avoiding confrontation which would fit under the definition of being passive aggressive. Maybe you'd have preferred I call you a pvssy?

HTH

[TrailGuy 203]

What this means is the inflation argument off the table.  Inflation has been declared dead for now.

[listen2me 23 1,756]

14 hours ago, HotRod said:

Where do you guys live that they put security tags on meat?  Must be some real ghetto stuff.

Racist

[Sean Mooney 1,815]

16 minutes ago, TrailGuy said:

What this means is the inflation argument off the table.  Inflation has been declared dead for now.

What will be interesting is consistently throughout polling people have indicated they feel they are doing well financially but the economy is bad. Will the rate drop help some perception of the overall economy?

[listen2me 23 1,756]

I am waiting for the tagline

"These prices are the new normal"

[Alias Detective 1,312]

Wegmans stopped putting the price per pound markers in the meat case.  The last I checked ribeye steaks were $29.99 a lb and peel and eat shrimp was $25.00 a lb.

not even prime and shrimp was 15- 18 per lb.

[Engorgeous George 1,774]

I get my beef here:  Side of Beef Colorado – All natural colorado raised beef

 

Tastey and reasonably priced compared to grocery store prices.   

[Hardcore troubadour 14,163]

2 hours ago, Sean Mooney said:

Quoting someone's words about me without directly addressing me is avoiding confrontation which would fit under the definition of being passive aggressive. Maybe you'd have preferred I call you a pvssy?

HTH

I said he’s stupid. You’re the he. Any non stupid person would know that. It was quite direct, Stupid. 

[Sean Mooney 1,815]

13 minutes ago, Hardcore troubadour said:

I said he’s stupid. You’re the he. Any non stupid person would know that. It was quite direct, Stupid. 

I'll just add passive aggressive to the list of the many words you've shown you don't know the definition of over the years here.

[edjr 6,300]

14 hours ago, jerryskids said:

Also, I have no idea what ground beef costs here, because I have a wife to do food shopping.   

And she has someone to do the shopping while she spends time with her real man

[RLLD 3,928]

1 hour ago, listen2me 23 said:

I am waiting for the tagline

"These prices are the new normal"

It would not be inaccurate.   The politicians, and their media puppets, lie when they proclaim some victory over inflation, when in reality all they did was stop exacerbating it......the inflation remains, and it will imperil the lower classes for at least a decade.....again, the harm done here by Democrats with these reckless infusions of cash was reprehensible....

[Hardcore troubadour 14,163]

15 minutes ago, Sean Mooney said:

I'll just add passive aggressive to the list of the many words you've shown you don't know the definition of over the years here.

Was it because I referred to you as he? Let me know your preferred pronouns and I’ll use them. 

[edjr 6,300]

1 minute ago, RLLD said:

It would not be inaccurate.   The politicians, and their media puppets, lie when they proclaim some victory over inflation, when in reality all they did was stop exacerbating it......the inflation remains, and it will imperil the lower classes for at least a decade.....again, the harm done here by Democrats with these reckless infusions of cash was reprehensible....

Trump sent out the 1st 2 covid stimulus'.  

 

Quote

 

How much was paid in each of the three rounds?

Round 1, March 2020: $1,200 per income tax filer, $500 per child (CARES Act)

Round 2, December 2020: $600 per income tax filer, $600 per child (Consolidated Appropriations Act, 2021)

Round 3, March 2021: $1,400 per income tax filer, $1,400 per child (American Rescue Plan Act)

 

 

[RLLD 3,928]

Just now, edjr said:

Trump sent out the 1st 2 covid stimulus'.  

 

 

Agree.  Now, when did it become apparent that inflation was a risk? Was it during the Trump admin, or during the Biden admin?   Moreover, when it was apparent.....did someone lie about it....say it wasnt happening....and later lie and call it transitory? And then push more cash into an inflationary spiral?  Or should we find some action on the part of Obama and Bush and try to pretend its relevant as well?