Of course if it does happen it is going to be all Donald Trump's fault and anyone who says otherwise is spreading Russia disinformation.
ET trolls still infected with their Trump Derangement Syndrome. Hilarious that these assclowns still miss our great President Donald Trump. Don't worry guys, we will put him back in office in 2024. We do know how much you love and miss him so, we will give you your wish.
WILDCHILD ABSOLUTELY CRUSHED IT https://www.marketwatch.com/story/p...t-inflationand-stock-markets-tank-11638305094 Happy retirement, “transitory.” As if it weren’t hard enough for the Federal Reserve to achieve its key mandate of full employment, now, it’s retiring the word “transitory“; even as members of the central bank struggle to achieve its second objective: price stability. In testimony in front of the Senate Banking Committee, Powell declared it high time to retire the word “transitory,” which has become a vexation for the U.S. central banker and a inscrutable piece of Jabberwocky to those watching inflation touch a roughly three-decade high. “We tend to use [ transitory] to mean that it won’t leave a permanent mark in the form of higher inflation,” Powell told Senate lawmakers on Tuesday. “I think it’s probably a good time to retire that word and try to explain more clearly what we mean.”
You crushed it? Note my quote and get back to me Q2. For the record, Powell is being a pussy ahead of his being renominated as chair. He knows inflation has almost nothing to do with money supply but he can’t say that because it’s politically dicey. Republicans want to push an inflation narrative and talking supply chains and pandemic roadblocks doesn’t help him. That being said, the economy on large needs to cool down in the near future and a stronger dollar will stabilize oil prices long term - hence why I see an early interest rate increase.
Too much hit and run analysis and not enough technical review. What does this tell you about prices in the coming months:
This is the fire take right here. Many, many people miss this when they try to analyze the monetary policy. People do not want to let go that money itself has changed since the Fed was given a dual mandate:
Not so fast.... While the number of container ships at anchor and loitering off Los Angeles and Long Beach appears to be easing from a mid-November peak, another wave of structural blank sailings in the trans-Pacific and an approaching pre-Lunar New Year rush promises further congestion for the largest US port complex. According to the Marine Exchange of Southern California, which tracks vessels in Los Angeles-Long Beach harbor, there could be as many container ships en route to Southern California as there were in mid-November, when a record 86 were waiting at anchor. But due to the slow-steaming of ships to meet environmental regulations, those vessels are now strung out all the way back to Asia and as far south as Mexico and Panama. Unlike a planned blank sailing in which a scheduled departure from Asia is canceled because of a drop in volume during a slack period, a structural blank occurs because the vessel that was scheduled to depart an Asian port is stuck in some other location because of port congestion and vessel bunching at Asian and North American ports.
The amount of time containers were being left at the port before pick up has increased slightly due to threat of fines for containers left more than a certain number of days but overall the record of ships waiting outside of LA/LB before COVID was 17. it now is in the 70s and 80s and more ships are coming maybe 2 months back. Backlog is l ike when a pipe bursts at the top of the building... you just have to let the water run until there is no more or it stops overflowing .
Biden fires back on Twitter at Republican Senator who called inflation a political ‘gold mine’ https://fortune.com/2021/12/01/politics-republicans-called-inflation-political-gold-mine/ President Joe Biden is using every tool in his arsenal to send a clear message to Americans this holiday season: Don’t pin inflation on me. Republicans have been working to blame the president and Democrats in Congress for the 31 year-high in the consumer price index in attempts to block Biden’s keystone Build Back Better social spending plan. They're touting high inflation as a pivotal campaign issue ahead of what will be a contentious midterm campaign cycle. “We’re going to continue to have inflation,” Senator Rick Scott, who chairs the National Republican Senatorial Committee, told The Wall Street Journal earlier this month, “and then interest rates will go up. This is a gold mine for us.” But Biden isn’t taking the abuse sitting down. In a political move that is out of character for the president, he took to the official POTUS Twitter account to fire back against Scott. “One Republican Senator said that rising prices were “a gold mine” for Republicans politically,” the president wrote. “Imagine rooting for higher costs for American families just to score a few political points.” Biden has also delivered a slew of on-camera speeches over the last two weeks touting his economic accomplishments and explaining that he is doing all he can to fight inflation, which has increased by more than 6% year-over-year. Scott, meanwhile, has put his words into action. Two days after talking to the Wall Street Journal, he blamed Biden for a 15% increase in Medicare Part B premiums. The increase was because of “Biden’s inaction to address the inflation crisis he and Washington Democrats have created with reckless spending and socialist policies,” he said. The increase, according to Kaiser Health News, was because of high costs of a new Alzheimer’s drug and as a response to a premium freeze last year in response to the COVID-19 crisis. In hearings with Treasury Secretary Janet Yellen and Federal Reserve Chair Jerome Powell, Republicans spent much time testifying about the impact Biden’s policies (which have not yet been passed or enacted) have had on rising costs. “It is the administration's agenda that is driving up the cost of things. It’s making the American people worse off, not better off,” said Representative Patrick McHenry (R- N.C.), ranking Republican on the Financial Services panel. “Y'all won the election. It's your prerogative to ignore Republican concerns. But you went forward with the American Rescue Plan, which we warned would increase inflation,” Representative Anthony Gonzalez (R-Ohio) said. “That's exactly what happened. You're set to repeat the exact same mistake.” Well-funded conservative groups, meanwhile, are launching large advertising campaigns ahead of the midterm elections to hammer home their inflation message. The Club For Growth launched an ad campaign in November targeting moderate Democrats who support Biden’s Build Back Better plan for their role in increasing inflation. The Coalition to Protect American Workers, led by former Vice President Mike Pence's former chief of staff, Marc Short, launched a six-figure ad campaign last month against Democratic lawmakers with an emphasis on increasing prices. Most economists (on the left and right) agree that Biden’s policies have little to do with rising inflation. Analysts at Moody's Analytics and Fitch Ratings say that the bill has no impact on the increasing prices because the money from it won't begin to flow into the economy until 2022, and due to its decade-long rollout and revenue-raising offsets. In reality, there is little the president can do to tamp down inflation. Biden has used his executive power to ease supply chain problems at ports and he's met with the CEOs of large retailers asking them to stock their shelves quickly to meet demand. He also announced last week that he would release oil from the nation's Strategic Petroleum Reserve, but the impact on gas prices will likely be minimal. “While our actions will not solve the problem of high gas prices overnight,” the president said last Tuesday, “it will make a difference over time.”