Alright then. You’re drunk in the middle of the day. I have walked you around money in circulation, current velocity measurements and inflation is global - all of which say this is a supply crunch not a money supply issue. You cannot point to one metric that says this current inflation is related to monetary policy and spending because they don’t exist. Google your brains out. Pump the search machines until your fingers are nubs. You literally have nothing to show but an opinion.
This is a “structural” shock now? No. There is capacity to produce and actually good levels of supply in the system. This is not structural but speculative. Also, there is a major disconnect between price of oil per barrel and price per gallon of gas from a historical perspective.
Ok, so we agree there is inflation. That's a start - getting you to admit anything is a feat in itself. So, quick question just to see how remedial of a student I'm dealing with here (I have suspicions but confirmation is needed to make sure) Does injecting hundreds of billions of fiscal stimulus in the form of cash to the citizenry: A. Attribute to inflation B. Have no effect C. Attribute to disinflation
no. You’re questions are stupid. You’re trying to act like the world is a perfect place where x + y = z but that’s not how this works. There’s literally trillions of moving parts to economies and this is why we measure to find the root causes. And this idea that I have dispelled inflation is nonsense too. You’re the big genius who knows this is definitely related to fiscal policy and spending so show us the measurements. It’s actually all available for you. It’s not like they hide this stuff. We don’t need philosophize our way through this like we are in 5th century BC Greece. Show us your proof.
Best quote. Thanks. You can't answer. Its pathetic. You can't just simply say that the injection of money into the economy in the form of direct payments to its citizens either attributes to or doesn't attribute to inflation. There's no reason to not answer this other than to be disingenuous. You don't want to discuss anything. You're just interested in empty snark. If that's the way you want to be treated (as a troll) then I don't have a problem switching (back to) how I view and interact with you.
So now you’re asserting we have effectively removed Russian oil capacity. Ok. It would be nice but the Russians are still capable it’s their options for sales that have diminished. They are still moving that nasty Ural crude in India and China though. There’s tons of it at sea because they have to go the long way now to sell it at a discount. What’s interesting is two things in how this will play out 1. What will Russia do with all of those rupees and 2. What will Iran do now that they effectively competing with Russia in the Chinese market. But no unfortunately Russia is still moving crude, albeit at a discount and a great distance. Capacity remains. We do have other issues besides speculation that Russia is so unstable of a trade partner they cannot guarantee their contracts. Our domestic refineries are not running optimally right now. But yes like I said this is mostly about supply tomorrow.
I have run through all the numbers from my side with you a dozen times. You’re trying to force your argument without any measurements in the economy. Like I said I get it, I took macro economics too. This is what we were taught happens sometimes. The problem is that the metrics we were taught to measure with aren’t adding up. Money isn’t moving, banks are parking huge amounts of cash, savings was through the roof and credit usage was declining until inflation hit. You're talking about I can’t answer, you don’t like the answer. You want to force Biden Biden Biden into this but how is Biden causing global inflation?
I don't like the answer? You've not given one. A or B. A, contributes. B, doesn't. You can't answer. One letter.
This is about supply today AND tomorrow. But mostly, its about supply. Vastly different than the oil run up in 2006/7 or since.