Inflation Is
- Thread starter i am herdman
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So you are in effect saying all offshored jobs are coming back?
The idea is to bring back important, strategic jobs. And high profit jobs.* China can keep making plastic dog crap. And maybe dildoes....would you stick a Chinese dildo up your yoohaw? If I had a yoohaw, I wouldn't.
* There will be a reckoning over wages, no doubt about it. Many of these returning jobs are not paying a middle class wage, as we have fvcked up the housing market by not building enough and letting big money investors and hedge funds take it over. I look for unions to start growing soon. At least so in the metro areas. It's probably a good idea to work hard towards bringing manufacturing back to more rural areas.
There was a good balance right before shit hit the fan. Over-supply is also bad. Gotta keep profits up so wages can be up. None of this works if we are paying Chinese wages. Not that you care about wages, stick it to the working man, pull yourself up by the bootstraps to $15 an hour and smile all the way to the poorhouse.
There actually wasn't. There was a pending chip shortage. Demand was beginning to exceed supply, and any planned capacity increases, before Covid. The automakers had what they believed to be longer term contracts with an adequate backlog of inventory when in fact the chipmakers in essence were supplying them under a just in time inventory system (at least that has been their excuse to disgruntled dealers). While COVID-19 exacerbated the problems, I really think the expanding economies, not shrinking economies, and resulting consumer purchasing habits made the shortage inevitable, although Covid certainly hastened it.
Here is a link to an article along those lines:
Global chip shortage: Everything you need to know
What is the global chip shortage? How can your business manage during this crisis? When is the chip shortage predicted to end? These questions and more are answered in this cheat sheet.
www.techrepublic.com
No kidding Sherlock...
You can give me grief about a lot of things but this is not one of them. SERIOUSLY... I am working virtually every day on my time and dime, to bring economic development, and good paying jobs, to my corner of the world. The employees at my companies are paid above-market wages and benefits. SERIOUSLY...
Now when did I say that???
Any job is an improvement. Look, both parties have been complicit in off-shoring jobs. Heck our tax code actually encourages it.
From 2008
Does tax code send U.S. jobs offshore?
Obama-Biden had 8 years to act on it yet in 2020...
Biden proposes a tax penalty for offshoring and new credits for manufacturing investments
Biden wants the corporate tax code to reward investments in U.S.-based manufacturing and penalize American companies that offshore jobs.
We've virtually outsourced entire industries, from textiles to steel. Are these strategic industries?
How about allowing our production of chips to shrink from 37% to 12% over the last 30 years? Was this an effective strategy? Where were our politicians during this time? What were our policies during this time? Hmmm, this was about the time NAFTA was implemented... By whom??? We know where their priorities are...
I won't even let my dogs have anything made in China...
The Clinton Administration did a pretty good job on its own...
Here's How The Community Reinvestment Act Led To The Housing Bubble's Lax Lending
www.businessinsider.com
Last post for a while. Here is another good article about contributing factors prior to Covid that adversely affected the chip supply.
info.fusionww.com
The Global Chip Shortage: A Timeline of Unfortunate Events
COVID-19 has sent traumatic ripples through supply chains around the globe, but the semiconductor supply chain was fragile long before governments shut down and catastrophe struck. In a culmination of negative variables, the chip shortage has amassed over the years from a series of unfortunate...
info.fusionww.com
I watched a speech Milton Friedman gave back in the 80s about inflation and he gave a simple explanation. He said the government gives you three boogeymen for it - greedy corporations, grabby unions and overzealous consumers. He points out that while all three of those can be true and exist, they can not in and of themselves create inflation because none of the three can create the necessary component of inflation - only the government can do that. Only the government can create money from paper and ink.
the point being that corporations can raise prices to whatever they want, but if people don’t have the money to pay the price, products will sit unsold until the price comes back down. Unions can force higher wages which also drives up costs, but if they force costs to high products again become unattainable by consumers and wages reset. Consumers are naturally limited by the amount of income they have to spend.
what upsets the capitalistic balance is the introduction of excess capital into the pockets of consumers. What happened with those stimi checks and excess unemployment benefits? Yep, excess capital provided to consumers printed by the government out of thin air. He said it 40 years ago and it is still 100% correct today.
the point being that corporations can raise prices to whatever they want, but if people don’t have the money to pay the price, products will sit unsold until the price comes back down. Unions can force higher wages which also drives up costs, but if they force costs to high products again become unattainable by consumers and wages reset. Consumers are naturally limited by the amount of income they have to spend.
what upsets the capitalistic balance is the introduction of excess capital into the pockets of consumers. What happened with those stimi checks and excess unemployment benefits? Yep, excess capital provided to consumers printed by the government out of thin air. He said it 40 years ago and it is still 100% correct today.
The Clinton Administration did a pretty good job on its own...
Here's How The Community Reinvestment Act Led To The Housing Bubble's Lax Lending
dont let extra see that, he’ll have a cow. I’ve explained to him before how the government forced banks into bad lending and he doesn’t want to hear it.
or SUPPLY SIDE FAILURE to produce enough products.
There it is again. The lie^^^^. It's eerily similar to prohibition forced us to make and sell moonshine.
Did you read the article? What specific points made by the writer do you refute and what is your basis for your disregard for his point?
what is CRA and what penalties are imposed on banks for unsatisfactory CRA scores? Do you propose that banks disregard CRA requirements as set by the OCC? How would that disregard impact their ability to do business?
the truth is you simply don’t know any of that, but like to pretend you do. You don’t possess the faculties to grasp your intellectual weakness in areas where you have no training, no experience, and not even a rudimentary grasp of the issues.
you can pretend to your illiterate buddies OW, but your only defense here is to call people names and act like a petulant toddler. You’re out of your depth on nearly ever topic beyond cabinet making and the sooner you come to terms with that and open your mind, you might actually learn something.
what is CRA and what penalties are imposed on banks for unsatisfactory CRA scores? Do you propose that banks disregard CRA requirements as set by the OCC? How would that disregard impact their ability to do business?
the truth is you simply don’t know any of that, but like to pretend you do. You don’t possess the faculties to grasp your intellectual weakness in areas where you have no training, no experience, and not even a rudimentary grasp of the issues.
you can pretend to your illiterate buddies OW, but your only defense here is to call people names and act like a petulant toddler. You’re out of your depth on nearly ever topic beyond cabinet making and the sooner you come to terms with that and open your mind, you might actually learn something.
You're an idiot and a liar. You don't want to be called an idiot and liar? Then don't be an idiot and a liar. Friedman would like everyone to be as ignorant as you are. You can cause prices to go up, that's inflation, moron, simply by failing to supply enough of something in demand. That's exactly what's happening now.
Which we have discovered is not such a good thing lol.
Then vote like it. Stop voting for the union busters and those that cut protections for workers. Stop voting for politicians that think is fine that Walmart teachers their workers how to apply for government aid, instead of paying them a fair wage. This does not mean vote Democrat. It might mean you leave a race blank. When I tell you I am sick of both parties, I ain't lying.
He's either right or wrong.
Yep, and I am sick of both parties.
Textiles could be, depends on the textile. Steel, absolutely.
It's goddamn dumb is it what it is.
Perhaps he has a good argument, but is just angry and bitter.
I'm not sure how CRA made us build fewer homes. At least fewer "affordable" homes.The Clinton Administration did a pretty good job on its own...
Here's How The Community Reinvestment Act Led To The Housing Bubble's Lax Lending
"Studies have suggested that only 6 percent of subprime loans were extended by CRA-regulated lenders to either lower-income borrowers or neighborhoods in the lenders' CRA assessment areas."
Greed is a bitch.
The unions have to grow in metro areas that the democrats control. You can't make this stuff up. hahahahah
Period. End of message.
I don't know what your parents did for a living, but my parents were union members that were well paid, with good benefits. Those union jobs put them, both of whom grew up poor, solidly into the middle class.
I didn't vote for these guys, did you?
"work would be performed by nonunion labor, since Arkansas is a right-to-work state."
Clinton signs NAFTA into law, Dec. 8, 1993
The U.S. Chamber of Commerce said in 2017 that exiting NAFTA without a new deal in place could devastate American agriculture, cost hundreds of thousands of jobs and “be an economic, political and national security disaster.
www.politico.com
The roots and legacy of Bill Clinton's 'abandonment' of organized labor
After the labor movement helped elect David Pryor, Dale Bumpers and Bill Clinton early in their careers, the three politicians took aggressive anti-union positions, Michael Pierce, an associate professor of history at the University of Arkansas, writes in a recent piece on The Labor and...
arktimes.com
AFL-CIO leader: Clinton, Obama let down unions
"Both of them surrounded themselves with Wall Street people."
www.axios.com
Amendment 34. In November 1944, Arkansas and Florida became the first two states to enact what are commonly known as “Right to Work” measures. These laws prohibit employers and employee-chosen unions from agreeing to contracts that require employees to join the union as a condition of employment.
🥱
You're a liar because you intentionally omitted the word directly in front of what I quoted. Idiot.
Unions do nothing for the worker these days. they are a deduction item on a paycheck that fill the union boss's pockets and allow the companies they are in to do what they would do anyway.
??? You keep saying both parties but I only ever see you criticizing one of them... How could I be overlooking something???
It's pretty simple retard. They DO NOTHING for the workers. Just like the Dem party.
Why does the federal govt have a large number of union workers. ahahahahahahahaha, you can't make this crap up. Does the federal govt have bad working conditions or what? Again, if unions offered something of value there would be more of them. Is the Democrat run governement running a sweat shop or what? hahhahaah
White House claims Biden’s sanctions have ‘basically crushed’ Russian economy
Biden administration faces questions from reporters about whether Ukraine invasion has gone ‘unanswered’
www.independent.co.uk
Ms Psaki declared: “We have basically crushed the Russian economy”.
You're an absolute idiot.White House claims Biden’s sanctions have ‘basically crushed’ Russian economy
Biden administration faces questions from reporters about whether Ukraine invasion has gone ‘unanswered’
Ms Psaki declared: “We have basically crushed the Russian economy”.
" think about two ways that inflation can rise. Sometimes it happens because of an acceleration in spending throughout an economy, and sometimes because of negative shocks to productivity."
You calling banker a liar?? He told us printing money was the only way.
You calling banker a liar?? He told us printing money was the only way.
We had, and still have, both thanks to government overreaction. If you shut down production and don’t hand out money, how do unemployed people create demand for good that can’t be manufactured? (Which would be supply side failure).
the answer is it doesn’t happen. You get supply side issues when you artificially limit production (the shut downs) and then still fund the demand side. You create a situation where you artificially maintain a demand that can’t be met because you have a something like 50% producing but 100% still buying.
it’s not supply side failure, it’s a bastardization of free market principals through government overreach and control. It’s the same reason socialism always fails. When you guarantee payment on the demand side you disincetivize the supply side. When people all get the same, no matter what, engagement and effort drop and pull production down. It’s why shortages always exist in socialist and communist countries.
it can not happen though if someone is not artificially funding the demand side.
