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

[Sean Mooney 1,815]

4 minutes ago, Hardcore troubadour said:

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

You are just desperately reaching now

[edjr 6,300]

 

I really like this guy. He is a good listen. 

[Sean Mooney 1,815]

2 minutes ago, RLLD said:

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?

Inflation began in the middle of 2021 and was pretty worldwide. Some of that was supply chain issues. Some of those supply side issues were exacerbated by higher demand due to the US having more cash flowing through the system (which the argument was it would prevent deflation which would be tougher to combat than inflation). Then we had some world issues like Russia and Ukraine which cause some more issues with stuff like gas, oil, and overall energy prices. The two biggest drivers of this inflation spike were food and energy- both relatively volatile industries. The commonly held idea is that inflation peaked in 2022 and has slowly- albeit it too slowly- drifted down.

In addition to some of this- a study found that gasoline retail price margins increased by 62% from February 2020 to May 2023. Also, a Kroger pricing executive put into an email that with milk and eggs that retail inflation was significantly higher than cost inflation. 

[RLLD 3,928]

1 minute ago, Sean Mooney said:

Inflation began in the middle of 2021 and was pretty worldwide. Some of that was supply chain issues. Some of those supply side issues were exacerbated by higher demand due to the US having more cash flowing through the system (which the argument was it would prevent deflation which would be tougher to combat than inflation). Then we had some world issues like Russia and Ukraine which cause some more issues with stuff like gas, oil, and overall energy prices. The two biggest drivers of this inflation spike were food and energy- both relatively volatile industries. The commonly held idea is that inflation peaked in 2022 and has slowly- albeit it too slowly- drifted down.

In addition to some of this- a study found that gasoline retail price margins increased by 62% from February 2020 to May 2023. Also, a Kroger pricing executive put into an email that with milk and eggs that retail inflation was significantly higher than cost inflation. 

You will have to source your assertion.   Just understand, I know inflation is ever-present, so dont pretend because it existed that is the proof, no....it was the lying about it that we need to care about, not the whataboutisms

[edjr 6,300]

A dozen of the cheapest eggs here where I live at the lowest priced store was .99 cents not long ago. Was up to 3.99 and seems to be stuck at 2.49 now. 

[Sean Mooney 1,815]

2 minutes ago, RLLD said:

You will have to source your assertion.   Just understand, I know inflation is ever-present, so dont pretend because it existed that is the proof, no....it was the lying about it that we need to care about, not the whataboutisms

Which assertion?

[Sean Mooney 1,815]

5 minutes ago, edjr said:

A dozen of the cheapest eggs here where I live at the lowest priced store was .99 cents not long ago. Was up to 3.99 and seems to be stuck at 2.49 now. 

IIRC there was an avian flu outbreak in the middle of some of this which they (the companies) used to blame the price of eggs on

[Horseman 1,986]

3 minutes ago, Sean Mooney said:

Which assertion?

You referenced a study there in the middle of your 3rd grade rambling. 

Maybe some more coffee?  

[edjr 6,300]

1 minute ago, Sean Mooney said:

IIRC there was an avian flu outbreak in the middle of some of this which they (the companies) used to blame the price of eggs on

No worried. Kamala will take over and force them to lower the prices  

[Sean Mooney 1,815]

3 minutes ago, edjr said:

No worried. Kamala will take over and force them to lower the prices  

I mean I don't think anyone is naïve enough to believe that...well maybe real tim

[RLLD 3,928]

2 minutes ago, Sean Mooney said:

Which assertion?

The inflation started in 2021,  but let me help you just a little to move this along because I sense you are going to run with what ever trite nonsense MSM has told you to believe...

Your association with 2021 is demand resulting in supply chain issues from COVID.....NOT from policy..... so the maneuver to pretend "but Trump......" is not the move here, no matter how strongly MSM insists you believer that you have to be better.....

You should at least mention labor shortages, I mean that is part and parcel of the liberal lie....

Now, setting that aside.....lets roll with your attempt for a moment.  MY position....is that inflation was evident......it was apparent.......and MY position is that Biden lied about it......said it was not present......and then lied again when it could no longer be hidden.....and said it was transitory......and THOSE DESPICABLE LIES......coupled with the REPEHENSIBLE POLICIES that exacerbated something people were decrying at the time....and you have here admitted existed.....and the President lied.....the proper action was not done, and it is harming people to this very day.....AND IT DID NOT NEED TO HAPPEN

So....all of these efforts at distraction....not working

[Sean Mooney 1,815]

4 minutes ago, RLLD said:

The inflation started in 2021,  but let me help you just a little to move this along because I sense you are going to run with what ever trite nonsense MSM has told you to believe...

Your association with 2021 is demand resulting in supply chain issues from COVID.....NOT from policy..... so the maneuver to pretend "but Trump......" is not the move here, no matter how strongly MSM insists you believer that you have to be better.....

You should at least mention labor shortages, I mean that is part and parcel of the liberal lie....

Now, setting that aside.....lets roll with your attempt for a moment.  MY position....is that inflation was evident......it was apparent.......and MY position is that Biden lied about it......said it was not present......and then lied again when it could no longer be hidden.....and said it was transitory......and THOSE DESPICABLE LIES......coupled with the REPEHENSIBLE POLICIES that exacerbated something people were decrying at the time....and you have here admitted existed.....and the President lied.....the proper action was not done, and it is harming people to this very day.....AND IT DID NOT NEED TO HAPPEN

So....all of these efforts at distraction....not working

 so many assumptions.

I said months ago here- months ago, to you directly- that the inflation came from a myriad of issues and both Biden and Trump have some blame in it. I never have, nor would I, saddle it all on Trump and I would argue with anyone who tries to. You should remember that discussion- it's the one where you used the video of the dude with the skeleton in his basement off YouTube as evidence of your argument.

I think you might not know what the word "some" means. That might be the issue. I didn't say it was all supply chain issues. I said some of it was. Yes there were also labor shortages here and abroad. There were a number of reasons for that as well- excess money, flipped power to employees, unvaccinated workers (which is something more from countries overseas arguing this last one). 

Some economists said the inflation was transitory, some said it was persistent. He listened to the wrong ones it appears. Even with the wrong advice being followed we still avoided the hard landing. I'll grant that may very well be getting the right result with the wrong leadup making it more accidental than purposeful. 

So to repeat- there were a lot of factors that led to inflation beginning in the middle of 2021- supply chain issues, artificially inflated demand, extra money pumped into the system, economic dislocations, and bad policy from two presidencies from different angles, and some price gouging sprinkled in there. 

All that without random capitol lettering throughout. 

[edjr 6,300]

1 minute ago, Sean Mooney said:

 

I said months ago here- months ago, to you directly- that the inflation came from a myriad of issues and both Biden and Trump have some blame in it. I never have, nor would I,

Fact. Anyone that says otherwise is 100% political. 

[Sean Mooney 1,815]

4 minutes ago, edjr said:

Fact. Anyone that says otherwise is 100% political. 

Too many people- and many here, but not all- seem to have this idea that when a new President comes in the reset button gets hit on the economy and we start all over. That isn't the way it works so there are some things Obama did that Trump was building on and some things Trump did that Biden was building on and so on and so forth. 

It's okay to hit both sides on this

[RLLD 3,928]

1 minute ago, Sean Mooney said:

 so many assumptions.

I said months ago here- months ago, to you directly- that the inflation came from a myriad of issues and both Biden and Trump have some blame in it. I never have, nor would I, saddle it all on Trump and I would argue with anyone who tries to. You should remember that discussion- it's the one where you used the video of the dude with the skeleton in his basement off YouTube as evidence of your argument.

I think you might not know what the word "some" means. That might be the issue. I didn't say it was all supply chain issues. I said some of it was. Yes there were also labor shortages here and abroad. There were a number of reasons for that as well- excess money, flipped power to employees, unvaccinated workers (which is something more from countries overseas arguing this last one). 

Some economists said the inflation was transitory, some said it was persistent. He listened to the wrong ones it appears. Even with the wrong advice being followed we still avoided the hard landing. I'll grant that may very well be getting the right result with the wrong leadup making it more accidental than purposeful. 

So to repeat- there were a lot of factors that led to inflation beginning in the middle of 2021- supply chain issues, artificially inflated demand, extra money pumped into the system, economic dislocations, and bad policy from two presidencies from different angles, and some price gouging sprinkled in there. 

All that without random capitol lettering throughout. 

 

He listened to Yellen, who is a moron.   They were hiding it, hoping instead of acting....  and later, when they decided to throw gas on the flames....and were told not to, they did it anyway.    Plenty of people urged them not to do it, eventually Manchin saved them from an even more catastrophic mistake.

Bad policy is what distinguishes Biden from any of his predecessors.  But faulting him is potentially the wrong thing as well.  Based on his decline, which was also evident and which they also lied about with reckless abandon.....  I suggest he was not making any decisions, and instead it was likely the morons around him.

Anyone with a basic economic understanding knew what he was doing was harmful, disproportionately to the lower classes.....y'know, the ones they pretend to care about when they need votes?

[Sean Mooney 1,815]

3 minutes ago, RLLD said:

 

He listened to Yellen, who is a moron.   They were hiding it, hoping instead of acting....  and later, when they decided to throw gas on the flames....and were told not to, they did it anyway.    Plenty of people urged them not to do it, eventually Manchin saved them from an even more catastrophic mistake.

Bad policy is what distinguishes Biden from any of his predecessors.  But faulting him is potentially the wrong thing as well.  Based on his decline, which was also evident and which they also lied about with reckless abandon.....  I suggest he was not making any decisions, and instead it was likely the morons around him.

Anyone with a basic economic understanding knew what he was doing was harmful, disproportionately to the lower classes.....y'know, the ones they pretend to care about when they need votes?

It was more than just Yellen saying it, but either way so we've hit on Biden's blame in it all.

What blame do you place on Trump for inflation?

[RLLD 3,928]

Just now, Sean Mooney said:

So we've hit on Biden's blame in it all.

What blame do you place on Trump for inflation?

I blame Biden for not acknowledging the clearly evident inflation, when people clearly saw it......raised the concern.....and he lied about it, and did nothing.   Then I blame him for pushng money into an already inflationary economy and exacerbating the issue.....and then lying and gaslighting us all when he pretending it was "transitory".

This is unforgivable.  He is either stupid as sh!t or incompetent to an unacceptable level.  

Do you not really understand what he has delivered to people with these actions? It's not going away anytime soon, he has ensured the poorest people not merely stay poor for another 20 years, he has ensured they are even worse off.....

This should not be brushed off.  He could have avoided the severity of this all, but instead he lied.....fock him....

[Sean Mooney 1,815]

1 minute ago, RLLD said:

I blame Biden for not acknowledging the clearly evident inflation, when people clearly saw it......raised the concern.....and he lied about it, and did nothing.   Then I blame him for pushng money into an already inflationary economy and exacerbating the issue.....and then lying and gaslighting us all when he pretending it was "transitory".

This is unforgivable.  He is either stupid as sh!t or incompetent to an unacceptable level.  

Do you not really understand what he has delivered to people with these actions? It's not going away anytime soon, he has ensured the poorest people not merely stay poor for another 20 years, he has ensured they are even worse off.....

This should not be brushed off.  He could have avoided the severity of this all, but instead he lied.....fock him....

So we've hit on Biden's blame in it all.

What blame do you place on Trump for inflation?

[edjr 6,300]

 

[RLLD 3,928]

1 minute ago, Sean Mooney said:

So we've hit on Biden's blame in it all.

What blame do you place on Trump for inflation?

What % might you associate with Trump vs COVID or labor or any of the other factors?   

What you should really ask is whether or not Trump would have replicated the same actions as Biden did when the specter of inflation was apparent.  If you actually care.

But hey, defending those in power....who have harmed the defenseless....if that is your thing, all good....I leave that to you

[edjr 6,300]

 

[shadrap 164]

13 minutes ago, RLLD said:

I blame Biden for not acknowledging the clearly evident inflation, when people clearly saw it......raised the concern.....and he lied about it, and did nothing.   Then I blame him for pushng money into an already inflationary economy and exacerbating the issue.....and then lying and gaslighting us all when he pretending it was "transitory".

This is unforgivable.  He is either stupid as sh!t or incompetent to an unacceptable level.  

Do you not really understand what he has delivered to people with these actions? It's not going away anytime soon, he has ensured the poorest people not merely stay poor for another 20 years, he has ensured they are even worse off.....

This should not be brushed off.  He could have avoided the severity of this all, but instead he lied.....fock him....

in 2022 Biden got the dem bill passed, the Inflation Reduction act.   close to the largest spending bill ever.  Pro tip:  when they name a bill it usually means the opposite.  The fairness doctrine bill comes to mind.  thankfully it didn't pass.

[Sean Mooney 1,815]

18 minutes ago, RLLD said:

What % might you associate with Trump vs COVID or labor or any of the other factors?   

What you should really ask is whether or not Trump would have replicated the same actions as Biden did when the specter of inflation was apparent.  If you actually care.

But hey, defending those in power....who have harmed the defenseless....if that is your thing, all good....I leave that to you

I didn't defend Biden on this. I blamed him for his part. I blamed Trump for his part. You've written many posts and paragraphs now on Biden and his role. I'm asking for what parts of inflation you blame on Trump. I would also say that perhaps there is an argument that could be made that Trump's part is independent of COVID, perhaps the COVID response wraps into Trump's part. 

I find it telling so far you are so reluctant to speak to what parts you directly blame Trump for and are trying to deflect away from the questions to turn it back around on me. When again- I've acknowledged Biden's role in things. 

[RLLD 3,928]

1 minute ago, Sean Mooney said:

I didn't defend Biden on this. I blamed him for his part. I blamed Trump for his part. You've written many posts and paragraphs now on Biden and his role. I'm asking for what parts of inflation you blame on Trump. I would also say that perhaps there is an argument that could be made that Trump's part is independent of COVID, perhaps the COVID response wraps into Trump's part. 

I find it telling so far you are so reluctant to speak to what parts you directly blame Trump for and are trying to deflect away from the questions to turn it back around on me. When again- I've acknowledged Biden's role in things. 

Inflation happens, it was happening before Trump and it will happen after Biden.  Congress is involved and to a lesser extent the President is involved. But that is irrelevant.

What is relevant was the clear rise that should have been dealt with, and that we were told lies about it for months and months, and then policy was enacted to make it even worse.....these elements are unforgivable.

[Sean Mooney 1,815]

6 minutes ago, RLLD said:

Inflation happens, it was happening before Trump and it will happen after Biden.  Congress is involved and to a lesser extent the President is involved. But that is irrelevant.

What is relevant was the clear rise that should have been dealt with, and that we were told lies about it for months and months, and then policy was enacted to make it even worse.....these elements are unforgivable.

So another non answer?

[RLLD 3,928]

58 minutes ago, Sean Mooney said:

So another non answer?

I have provided my answer.  Your efforts to say "but Trump" fall short since he never had a shot at dealing with the issue.  Could he have also lied as Biden did, well sure.....that is what politicians do......but since he was not President when the lying and ongoing damage was conducted we cannot know.

As I also stated, I am not entirely confident that Biden was actually making any decisions during this time, i submit that his handlers were doing all this as he was jus the puppet with dementia

[Sean Mooney 1,815]

4 minutes ago, RLLD said:

I have provided my answer.  Your efforts to say "but Trump" fall short since he never had a shot at dealing with the issue.  Could he have also lied as Biden did, well sure.....that is what politicians do......but since he was not President when the lying and ongoing damage was conducted we cannot know.

As I also stated, I am not entirely confident that Biden was actually making any decisions during this time, i submit that his handlers were doing all this as he was jus the puppet with dementia

It is a very simple question and no matter how many words you want to write will not change that: What blame do you place on Trump for inflation?

Again- I acknowledge Biden's role. I'm not playing "but Trump." I have said from the very beginning there were bad policies by both Trump and Biden that led into this. It continues to be telling you can't answer a simple question in a straightforward way without trying to write a lot of words in lieu of a straight answer. 

[RLLD 3,928]

1 minute ago, Sean Mooney said:

It is a very simple question and no matter how many words you want to write will not change that: What blame do you place on Trump for inflation?

Again- I acknowledge Biden's role. I'm not playing "but Trump." I have said from the very beginning there were bad policies by both Trump and Biden that led into this. It continues to be telling you can't answer a simple question in a straightforward way without trying to write a lot of words in lieu of a straight answer. 

I place no more blame on him that I do Biden, or Obama, or Bush....or any other whataboutism you might try.

[HotRod 35]

Trump  set the kindling up for the fire.  Covid recovery started the fire.  Biden threw gasoline on it.

The difference is if Trump didn't create the means for the fire then everything would have collapsed.  unfortunate necessity.

[Sean Mooney 1,815]

7 minutes ago, RLLD said:

I place no more blame on him that I do Biden, or Obama, or Bush....or any other whataboutism you might try.

It's not whataboutism no matter how many times you try to throw that word out there

[RLLD 3,928]

23 minutes ago, Sean Mooney said:

It's not whataboutism no matter how many times you try to throw that word out there

And yet it is.....I maintain the Biden was at fault for his reaction to inflation, and you reply with some reference to Trump, as if HIS management of inflation was at all relevant, its a deflection....

[zsasz 342]

RLLD getting taken to school here. Kid needs to find better "Guy In Pickup Truck Explaining The Economy" and "BiDEn BaDDD!!!!" videos on the YouTubes.  

[Sean Mooney 1,815]

2 minutes ago, RLLD said:

And yet it is.....I maintain the Biden was at fault for his reaction to inflation, and you reply with some reference to Trump, as if HIS management of inflation was at all relevant, its a deflection....

I said Biden carries blame. I said Trump carries blame too.

I asked for you to speak to what parts you blame Trump for after you laid out Biden's blame (which again- I didn't disagree with)

You responded with like a thousand words- many of which were yelling "whataboutism" over and over. 

You are spinning out of control right now

[RLLD 3,928]

Just now, Sean Mooney said:

I said Biden carries blame. I said Trump carries blame too.

I asked for you to speak to what parts you blame Trump for after you laid out Biden's blame (which again- I didn't disagree with)

You responded with like a thousand words- many of which were yelling "whataboutism" over and over. 

You are spinning out of control right now

Incorrect.   Biden carried the blame for his inane handling of inflation, no one else.....

[Sean Mooney 1,815]

Just now, RLLD said:

Incorrect.   Biden carried the blame for his inane handling of inflation, no one else.....

So you are playing politics saying Trump deserves no blame? And you avoid the question constantly screaming whataboutism.

Biden deserves blame, the Federal Reserve does (Powell admits they got inflation wrong), so do other central banks around the world. Trump deserves blame too.

Except in your world. 

[RLLD 3,928]

2 minutes ago, Sean Mooney said:

So you are playing politics saying Trump deserves no blame? And you avoid the question constantly screaming whataboutism.

Biden deserves blame, the Federal Reserve does (Powell admits they got inflation wrong), so do other central banks around the world. Trump deserves blame too.

Except in your world. 

Of course not, that would be just plainly stupid.  Inflation is ever-present, it does not start or end.

What matters is how they handle it, as I have stated, and in the case of Biden, he was a miserable failure

[Sean Mooney 1,815]

Just now, RLLD said:

Of course not, that would be just plainly stupid.  Inflation is ever-present, it does not start or end.

What matters is how they handle it, as I have stated, and in the case of Biden, he was a miserable failure

You are getting slightly closer to answering the question.

How many times do I have to ask you again to get you to actually give an answer? 

[RLLD 3,928]

Just now, Sean Mooney said:

You are getting slightly closer to answering the question.

How many times do I have to ask you again to get you to actually give an answer? 

I answered your question, yet you seem no closer. Why? Why would you defend some politician who made a mistake, that is silly.  It was an avoidable mistake and the next time we should not be so complacent when we see it again.

[Sean Mooney 1,815]

4 minutes ago, RLLD said:

I answered your question, yet you seem no closer. Why? Why would you defend some politician who made a mistake, that is silly.  It was an avoidable mistake and the next time we should not be so complacent when we see it again.

I did not defend Biden. I acknowledged his part. I said there are factors that Trump did that led into it as well. As someone else put it- Trump collected the kindling and lit the match, Biden fanned the flames.

You've repeatedly not recognized anything Trump did and deflect away from it with "whataboutism" and weird capitalization in posts. 

[RLLD 3,928]

2 minutes ago, Sean Mooney said:

I did not defend Biden. I acknowledged his part. I said there are factors that Trump did that led into it as well. As someone else put it- Trump collected the kindling and lit the match, Biden fanned the flames.

You've repeatedly not recognized anything Trump did and deflect away from it with "whataboutism" and weird capitalization in posts. 

Biden has the ONLY part in reacting to the increase of inflation, well he and Yellen, but no one else....no prior President....no prior politician was making those decisions.....HE was.....you cannot play the "but Trump" game here

We are talking about the behaviors of a President after he was elected, and HIS mistakes that HE made....