INFLATION--FED's cutting rates again...

This is Jared Bernstein
Chair of the Council of Economic Advisers to POTUS
Trying to explain why a government borrows its own currency while also printing more to pay debts
He ends by saying "I don't think there's anything confusing there"
LOL ok :smile1:

 
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Run Pincher said:
Here's some good Brandonomics. Spend $80 billion to collect $520 million.
IRS says number of audits about to surge. Here's who it is targeting. (msn.com)
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So I got audited this year. They said a legitimate deduction I took was not allowed. My CPA - who is also a licensed IRS agent - disputed their claim that I owed $26,000. We have now disputed it three times. Meanwhile, I paid an additional $9000 on this year’s return. Still haven’t got any resolution to the audit, but mysteriously got a check back for $175 this week with no explanation.

What we need is less IRS not more. Thanks Brandon.
 
theiioftx said:
So I got audited this year. They said a legitimate deduction I took was not allowed. My CPA - who is also a licensed IRS agent - disputed their claim that I owed $26,000. We have now disputed it three times. Meanwhile, I paid an additional $9000 on this year’s return. Still haven’t got any resolution to the audit, but mysteriously got a check back for $175 this week with no explanation.

What we need is less IRS not more. Thanks Brandon.
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I think we know what the real deal is, extort more $ from people who are likely to vote a certain way.
 
Driver 8 said:
This is Jared Bernstein
Chair of the Council of Economic Advisers to POTUS
Trying to explain why a government borrows its own currency while also printing more to pay debts
He ends by saying "I don't think there's anything confusing there"
LOL ok :smile1:

Click to expand...

Alice-in-wonderland-Tweedle-Dee-and-Tweedle-Dum-twins.jpg

alice-in-wonderland-f8b12085d54c4207bcd8236dc0ab73f0.jpg
 
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Forget about lowering rates, or even stable rates. Zeihan says to look for rate hikes, and more rate hikes.

Coronavirus-related events, including fed spending and loose money drove inflation up to 9%+. The supply chain has been catching up, and inflation (as commonly measured) went down to 3%. Demographics is pushing on it as well with the youngest Baby Boomers retiring and a smaller Generation X into their prime capital rich earning/saving/investing age. Result--lowering free capital available. Also, demand for domestic products is skyrocketing with de-globalization. Domestic ramp up of industrial plants/infrastruture is happening. This is inflationary. Rates will be going up, and up.
 
Milie is a hardcore Mises/Rothbard style libertarian. He proves what it takes to reduce inflation. If you want stable prices jump on the libertarian train.
 
Vol,

It ain't Harris County; if it was, she would have been let go with a warning and then sued the County and Target for racial profiling and discrimination settling for a paltry low six figures.
 
The leftist’s Holy Grail, wealth taxes, will someday be a reality. There’s plenty that can be done now to prepare. One might look at Wyoming Incorporation. Somewhat untraceable last time I heard.
 
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A wealth tax would be an unapportioned direct tax and therefore unconstitutional at the federal level. (The 16th Amendment created an exception for income taxes, but it didn't repeal it altogether for other taxes.) Could a state do it? Perhaps, but everybody with money would leave. Economically it would be the end of that state.
 


Grocery prices drop for the first time in over a year.

Auto insurance and auto rental, housing, core services, and haircuts and personal services are currently some of the leading high inflation categories.

Appliances and autos are down.

Insurance rates are going up across the board.
 
ViperHorn said:
Where?
If this is true then the reason is more people are being priced-out at the grocery stores.
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There may be a switch in the middle-of-the-pack from HEB/Albertsons/Kroger to Aldi, Fiesta, and Wal-Mart. That alone could knock about 5%-10% + off the grocery bills. Yet, your produce may rot within a day or two of purchase...

The upper end will always continue going to Central Market, Wegmans, Harris-Teeter, EatZis, etc. (or have their "help" go there for them)
 
Chop said:
There may be a switch in the middle-of-the-pack from HEB/Albertsons/Kroger to Aldi, Fiesta, and Wal-Mart.
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This happened over the past 30 years or so with department stores. The middle market left Sears, Wards, and JCPenny, and either went low end to Target, Wal-Mart, etc., or elevated up to Dillards, Nordstroms, Neimans, etc.

The middle is getting hollowed out. The lower end is growing rapidly, and the upper end is growing, but not so rapidly.
 
Also, what Amazon did to retail, they're now doing to groceries. Although I wouldn't trust their grocery pickers to pick good (and unbruised) produce.
 
I'll pick my own damned produce, thank you very much. I don't trust ANY curbside to shop for me, and I sure wouldn't trust Amazon either.
 
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