OT: The Arizona Coyotes Lounge XVIII - The "Dude! Where's my ark" edition

[Dirty Old Man]

Absolutely silly that anyone had said inflation would not happen with all the government spending that has occurred in the last ~13 months. I figured we would end up closer to 8%. I have read some articles that predicted 10% to 12%. It won't be permanent happening year after year as long as the government cuts back and doesn't spin the line that a large chunk of the spending is now essential.

If it stays at 4.2% that would be great. That isn't an awful number, it isn't good but historically it's not that bad. In economics 2-3% inflation is sort of a given. Some budgets I have seen account for a 3.5% so 4.2% doesn't rock the boat too much.

Yeah, while poking around yesterday I found this:

U.S. Inflation Rate 1960-2021

I made reference to living through the 1970s yesterday, and you can see how much worse that was than recent years... for the last few years hearing all about "Quantitative Easing" and what that really meant, I too am surprised inflation isn't and hasn't been worse. It would be as if you read an announcement "Today the Elders of the Internet deemed that the maximum number of Bitcoin to be mined will be raised by 10% over the next decade"

 

[Bonsai Tree]

That is $31K a year tax free, like making roughly $38K a year paying taxes. You get to sit at home for that money, so how much do you need to work to give up retirement? Let's say its $50K, many people that are not skilled can't make $50k a year, teachers don't make that when they start out. $600 a week is a great incentive to stay at home and now work.

The poverty level in the US for a family of 4 is $26,500. "Sitting at home for that money", $31K, is spin for those who want to keep wages as low as possible and keep a perpetual underclass in America. A less biased explanation for why employers can't find workers, is that many of the industries historically employ a lot of women. For women to work they need daycare for the children. With no daycare because of the COVID pandemic, women can't work. That effects the hospitality industry, the restaurant industry and the retail industry above others.

 

[Bonsai Tree]

Higher pay sounds good until you realize it just fuels more inflation. Literally hundreds of businesses are raising pay and offering bonuses trying to lure workers.

This country needs to offer a living wage, above the poverty level, in order to avoid having a perpetual underclass.

 

[MIGs Dog]

Yeah, while poking around yesterday I found this:

U.S. Inflation Rate 1960-2021

I made reference to living through the 1970s yesterday, and you can see how much worse that was than recent years... for the last few years hearing all about "Quantitative Easing" and what that really meant, I too am surprised inflation isn't and hasn't been worse. It would be as if you read an announcement "Today the Elders of the Internet deemed that the maximum number of Bitcoin to be mined will be raised by 10% over the next decade"

Yes, historically inflation has been much higher, but still makes you wonder why the Fed funds rate is at zero. What exactly are they trying to pump up?

 

[MIGs Dog]

This country needs to offer a living wage, above the poverty level, in order to avoid having a perpetual underclass.

It's impossible to achieve in a free market. No possible legislation can will away economic classes. The best course is to create a society and economic system where people are allowed to pursue their dreams. I'd say the U.S. does fairly well in this regard.

 

[Bonsai Tree]

It's impossible to achieve in a free market. No possible legislation can will away economic classes. The best course is to create a society and economic system where people are allowed to pursue their dreams. I'd say the U.S. does fairly well in this regard.

Very Gordon Gekko.

 

[Dirty Old Man]

This country needs to offer a living wage, above the poverty level, in order to avoid having a perpetual underclass.

Trouble is, there are 10s of millions who actually prefer having that perpetual underclass; tough nut to crack.

It's impossible to achieve in a free market. No possible legislation can will away economic classes. The best course is to create a society and economic system where people are allowed to pursue their dreams. I'd say the U.S. does fairly well in this regard.

If by fairly well, you mean 'B-', I agree with you. We're okay, but not as good as we think we are.

Inequality - Poverty rate - OECD Data

 

[MIGs Dog]

Trouble is, there are 10s of millions who actually prefer having that perpetual underclass; tough nut to crack.



If by fairly well, you mean 'B-', I agree with you. We're okay, but not as good as we think we are.

Inequality - Poverty rate - OECD Data

Under my ideal system poverty is not eliminated, because I would assert it can't be. A more "perfect" system is one that embraces individual freedom, property rights, and the rule of law. The U.S. isn't bad, but could do better.

 

[cobra427]

The poverty level in the US for a family of 4 is $26,500. "Sitting at home for that money", $31K, is spin for those who want to keep wages as low as possible and keep a perpetual underclass in America. A less biased explanation for why employers can't find workers, is that many of the industries historically employ a lot of women. For women to work they need daycare for the children. With no daycare because of the COVID pandemic, women can't work. That effects the hospitality industry, the restaurant industry and the retail industry above others.

$31K is helpful for many families, I get that, but it also has the effect of an incentive to stay home and not work. I know of many businesses that say the same thing right now. Unemployment was designed as a stop gap until you can find a job, not a long term solution.

 

[MIGs Dog]

And the obvious question is how do you know who is vaccinated? Should we walk around with our Vax Cards stuck to our foreheads?

 

[Baby Doaner]

My pleasure, stay strong.

so the fluid looked clear and the nurse was confident it’s not meningitis, so praise YAH for that. That are still trying to figure out the strand of staph though.

 

[GiveAFlyingPuck]

And the obvious question is how do you know who is vaccinated? Should we walk around with our Vax Cards stuck to our foreheads?

All anyone knows for sure is their own status.

Me vaccinated and you vaccinated - I'm good to go.
Me vaccinated and you not vaccinated - I'm good to go.
Me not vaccinated and you vaccinated - You're good to go.
Both not vaccinated - kind of playing with fire aren't we.

One thing I've noticed a a lot less of, people out and about or at work who are coughing, sneezing, sniffling. Looks like the message has been received, if you're sick, stay home.

 

[Bondurant]

And the obvious question is how do you know who is vaccinated? Should we walk around with our Vax Cards stuck to our foreheads?

Great question. The card I was provided could be fabricated easily. Those thirsting for control and power will not let this pandemic go to waste. A host on MSNBC was melting down a few weeks ago at the idea of vaccinated people not wearing masks. The "proof" will be the next battle cry.

 

[Jagged Ice]

. The "proof" will be the next battle cry.

So true. I could duplicate my vaccine card for anyone with a copy machine, BIC wite-out and a pen.

 

[MIGs Dog]

All anyone knows for sure is their own status.

Me vaccinated and you vaccinated - I'm good to go.
Me vaccinated and you not vaccinated - I'm good to go.
Me not vaccinated and you vaccinated - You're good to go.
Both not vaccinated - kind of playing with fire aren't we.

One thing I've noticed a a lot less of, people out and about or at work who are coughing, sneezing, sniffling. Looks like the message has been received, if you're sick, stay home.

Being in the midwest, my spring allergies have been killing me.

 

[Bonsai Tree]

There are many private initiatives into voluntary private vaccine passports. If private companies (cruise ships, airlines, restaurants, universities) choose only to do business with those with a vaccine passport, that's legal. No different than my company demanding of me a yearly flu shot.

The nice thing is that vaccine availability is widespread. Non vaccinated who fake having a vaccine in order to avoid mask use are plain stupid. They are the ones running the risk of infecting each other. The day is coming soon when the vast majority of people sick, hospitalized or dying of COVID chose not to be protected and furthermore chose not to wear a mask. They will reap what they sew.

 

[Name Nameless]

The article failed to address the demand side of the equation. It quoted Powell as saying "he expects higher inflation to prove temporary, once the supply shortages are worked out." But why are there supply shortages? Most are not due to the pandemic, but because demand has risen. Why has demand risen? Massive accommodation by the Fed and a government that thinks it's impossible to spend too much, including giving people $600 per week to sit at home.

I have read there is a supply shortage due to a container shortage. Yupp, container shortage. The empty containers are not shipped back to China, where they normally are filled.

 

[Dirty Old Man]

I have read there is a supply shortage due to a container shortage. Yupp, container shortage. The empty containers are not shipped back to China, where they normally are filled.

Haha, that's it, the next salvo in the trade war. Just keep all the containers. "if you want these back you have to buy something" lol

 

[Jakey53]

There are many private initiatives into voluntary private vaccine passports. If private companies (cruise ships, airlines, restaurants, universities) choose only to do business with those with a vaccine passport, that's legal. No different than my company demanding of me a yearly flu shot.

The nice thing is that vaccine availability is widespread. Non vaccinated who fake having a vaccine in order to avoid mask use are plain stupid. They are the ones running the risk of infecting each other. The day is coming soon when the vast majority of people sick, hospitalized or dying of COVID chose not to be protected and furthermore chose not to wear a mask. They will reap what they sew.

Your second last sentence is full of bullshit.

 

[Jakey53]

Haha, that's it, the next salvo in the trade war. Just keep all the containers. "if you want these back you have to buy something" lol

How about we manufacture the product ourselves, like in the good old days. Tired of all this Chinese crap anyways.

 

[Canis Latrans]

How about we manufacture the product ourselves, like in the good old days. Tired of all this Chinese crap anyways.

Because it's cheaper to produce it elsewhere (assume it's not due to slave-labor) and often labor and capital in Western countries is better allocated to something even more productive and difficult than if they used it to meet or slightly outproduce what can be done in China.

 

[Coyotedroppings]

Because it's cheaper to produce it elsewhere (assume it's not due to slave-labor) and often labor and capital in Western countries is better allocated to something even more productive and difficult than if they used it to meet or slightly outproduce what can be done in China.

Trouble is it’s (as Jakey said) crap. I don’t mind consuming less for quality, to bad the majority have been trained to consume.

 

[WrinkledPossum]

How about we manufacture the product ourselves, like in the good old days. Tired of all this Chinese crap anyways.

The problem with this is that it would cause the cost of goods to increase. It's been said that Walmart has done more to help poverty than any government policy because of their cheap products.

That idea looks at poverty through a macroeconomic view that looks at society as whole. The cheap goods, which are accessible by more people, outweighs the negative of Walmart's low wages. Big part of this is also Walmart's cheap food, which they are able to sell because of the high traffic they receive from the cheap Chinese products.

Now manufacturing will naturally move away from China as their cost of labor increases. For most of it, it will move to cheaper countries. For some it could relocate to North America if the reduced shipping costs offset the extra labor costs in North America. Mexico would likely be the biggest benefactor though.

 

[Dirty Old Man]

Because it's cheaper to produce it elsewhere (assume it's not due to slave-labor) and often labor and capital in Western countries is better allocated to something even more productive and difficult than if they used it to meet or slightly outproduce what can be done in China.

Yeah, you don't really want everything made in China moving back here, Jake. Because the people who would be making those things are gonna ask for more money than you're gonna wanna give 'em now. Even after that $600/wk goes away.

 

[cobra427]

There are many private initiatives into voluntary private vaccine passports. If private companies (cruise ships, airlines, restaurants, universities) choose only to do business with those with a vaccine passport, that's legal. No different than my company demanding of me a yearly flu shot.

The nice thing is that vaccine availability is widespread. Non vaccinated who fake having a vaccine in order to avoid mask use are plain stupid. They are the ones running the risk of infecting each other. The day is coming soon when the vast majority of people sick, hospitalized or dying of COVID chose not to be protected and furthermore chose not to wear a mask. They will reap what they sew.

Kind of like people that eat a crappy diet and don't exercise