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The INFLATION Thread, aka “The Putin Price Hike” (1 Viewer)

What's their thinking on why ending those payments hasn't resulted in people returning to work?
That's where much of the discussion has centered. It's anecdotal but for many, they're seeing a return to work as the payments decrease. Others seem to be able to still get the payments. Others have gone to side hustles and making income that way. There doesn't seem to be a clear consensus. 

 
COVID isn't going anywhere.  So either we learn to live with it or we're screwed.


I think we have mostly learned to live with it. The scene from Times Square yesterday was a good picture of that.

What we're dealing with is the aftereffects of how hard it us and the shut down and massive disruption and of course the losses of people. 

 
COVID isn't going anywhere.  So either we learn to live with it or we're screwed.
Had a great chance to pick the brain of someone who's on top of all this stuff for an hour last night and they suggested that the Pfizer/Moderna pills that hit the news a couple weeks ago look pretty legit. 

They still have to go through the process, but the odds are that three months from now we'll have one or two pills that do a great job of treating COVID even after you get it.  So with the impact the vax can have up front and viable treatments for the infected their thinking was that ~6 months from now we're on the other side of this nightmare.

There are some caveats, but they considered the above, by far, the most likely scenario.

 
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That's where much of the discussion has centered. It's anecdotal but for many, they're seeing a return to work as the payments decrease. Others seem to be able to still get the payments. Others have gone to side hustles and making income that way. There doesn't seem to be a clear consensus. 
What people are seeing quite simply depends on what their bias already was.

 
What's their thinking on why ending those payments hasn't resulted in people returning to work?

Seems to me that $X thousand (lost track of the amount/individual) will last very long as a replacement for wages if you're a working age person -- especially with a family.
People returned to work.  A lot of them just didn't return to the crappy job they had.

"Don't like your crappy job? Get a better one"

has become:

"Can't find workers for you crappy job? Make it a better job"

It's easier to imagine millions of Americans lounging around, sucking off the government teat, than to imagine a bunch of minimum wage jobs that no Americans want to do. 

 
What people are seeing quite simply depends on what their bias already was.


No doubt. For sure, bias is a significant factor. I'm fortunate in most of the folks I've been talking to are pretty objective about it in trying to have a real discussion. 

 
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People returned to work.  A lot of them just didn't return to the crappy job they had.

"Don't like your crappy job? Get a better one"

has become:

"Can't find workers for you crappy job? Make it a better job"
This is what I'm calling the Take This Job and Shove It theory.

It's the one I'd like to be true because it'd eventually result in better living standards for poorer workers, but I don't think we know yet.

I DO think that the combination of accelerated retirements from an aging population + reduced immigration + side hustles + the savings from being at home more (less commuting, less child care, more time to work at saving money generally) offsetting meager low-wage incomes combine to make this theory a real possibility. 

But I don't think we have enough info to know yet.  Let's see what it looks like in 6-12 months.  Definitely possible folks are stretching the direct payments and when those run out things go back to pre-COVID.

 
No doubt. For sure, bias is a significant factor. I'm fortunate in most of the folks I've been talking to are pretty objective about it in trying to have a real discussion. 
Everyone who's not 100% biased knows that we would be facing significant inflation no matter who was president.  You can't go from a demand near 0 to off the charts like we have now coupled with trillions pumped into the economy over the last decade without experiencing massive inflation.

We can argue whether or not the Biden administration is doing all they can and making matters better or worse for usre. 

 
Everyone who's not 100% biased knows that we would be facing significant inflation no matter who was president.  You can't go from a demand near 0 to off the charts like we have now coupled with trillions pumped into the economy over the last decade without experiencing massive inflation.

We can argue whether or not the Biden administration is doing all they can and making matters better or worse for usre. 
This isn't "massive inflation" or hyperinflation or anything like that.  It's just more inflation than any of us has experienced unless you're old enough to have experienced the 1970s.  It's nothing the Fed can't fix if they deem it fix-worthy.

 
This isn't "massive inflation" or hyperinflation or anything like that.  It's just more inflation than any of us has experienced unless you're old enough to have experienced the 1970s.  It's nothing the Fed can't fix if they deem it fix-worthy.
I agree.  BUT many in here are using the expected, temporary higher inflation to score "gotcha" points against the current adminstration.

You know since he doesn't do things like sharpy an official hurricane weather map or write 3rd grade love letters to cruel dictators. 

 
I agree.  BUT many in here are using the expected, temporary higher inflation to score "gotcha" points against the current adminstration.

You know since he doesn't do things like sharpy an official hurricane weather map or write 3rd grade love letters to cruel dictators. 
The weather map sharpie might get forgotten by time, that would be a shame

 
Do you think in general the press is tough on President Biden?
Compared to Trump? Nah. 

But there's a running joke on Twitter because there is a large number of headlines that announce good news, and somehow mention it's bad for Biden.

Look, it's not in the media's best interest to tell people things are good. The bad news gets clicks. Reading about a president and a porn star gets more clicks than a win of a trade deal. 

 
Compared to Trump? Nah. 

But there's a running joke on Twitter because there is a large number of headlines that announce good news, and somehow mention it's bad for Biden.

Look, it's not in the media's best interest to tell people things are good. The bad news gets clicks. Reading about a president and a porn star gets more clicks than a win of a trade deal. 


Thanks. 

 
Samsung has decided to build an advanced U.S. chip plant in Texas — a win for the Biden admin as it prioritizes supply chain security and greater semiconductor capacity on American soil. https://t.co/aUj2lkssli

Frankly, every president over the last 20 years should apologize for not getting on this. 

 
"Do you think it’s just luck that gas prices are so low, and falling? Low gas prices are like another Tax Cut!" Trump exclaimed on Twitter.

Link


Thanks. That makes sense. It's definitely like a cut in that it lowers a family's expenses. I thought he meant what the poster posted and someone actually called it a taxcut. 

 
Samsung has decided to build an advanced U.S. chip plant in Texas — a win for the Biden admin as it prioritizes supply chain security and greater semiconductor capacity on American soil. https://t.co/aUj2lkssli

Frankly, every president over the last 20 years should apologize for not getting on this. 


That's fantastic news. And it's in my buddy (and long time Footballguys subscriber) Wayne Mueller's town of Taylor where he runs one of the best BBQ spots in the country. Louie Mueller's BBQ.

 
Thanks. That makes sense. It's definitely like a cut in that it lowers a family's expenses. I thought he meant what the poster posted and someone actually called it a taxcut. 
He pretty much did and it was what I was referring to.  It was never a tax cut or like one as he had little to do with it.  Same as Biden will have little to do with it when it goes back down some.

 
Except he has way more credibility and shared an actual story instead of your defend your side at all costs schtick.  :lmao:
Hilarious. 

I did in fact pay 60 bucks for a tree. Just as I have for the past several years at the same place. Need me to share a link or something?

 
Hilarious. 

I did in fact pay 60 bucks for a tree. Just as I have for the past several years at the same place. Need me to share a link or something?
Don’t stress it man, you’ve got about 5 loyal followers (maybe a couple less aliases)that will buy anything that protects the narrative. All good.  :thumbup:

 
Don’t stress it man, you’ve got about 5 loyal followers (maybe a couple less aliases)that will buy anything that protects the narrative. All good.  :thumbup:
You seem wound up this morning. 

Question. Why is it you believe that bassnbrew paid more than twice as normal for a tree, but not that I paid the same as normal?

 
You seem wound up this morning. 

Question. Why is it you believe that bassnbrew paid more than twice as normal for a tree, but not that I paid the same as normal?
Only thing surprising is that you didn’t claim the price on your tree went down this year, all good and not wound up at all thanks for the chuckle! 🤣

 
Only thing surprising is that you didn’t claim the price on your tree went down this year, all good and not wound up at all thanks for the chuckle! 🤣
Why would I claim that the price went down? Would you like me to send you a link to the tree farm we go to every year? 

 

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