Slowest start to Atlantic hurricane season…

[jakee 1,563]

8 minutes ago, brenthutch said:

https://www.investopedia.com/us-inflation-rate-by-president-8546447
 

 

Biden 5.7%

Trump 1.9% (which incidentally is right where the Fed says it should be)

Yes, that sure helps you prove your made up numbers about the price of gold. 
 

Although since you can now only dodge the issue I suppose it does at least prove that you do get embarrassed.

[brenthutch 444]

Let’s get back to discussing how spectacularly wrong the climate scientists were in predicting this year’s hurricane season.

33 named storms predicted by Michael Mann and company and so far we have only had seven. So much for the idea that AGW would result in a Katrina every other week (remember Al Gore’s movie)

[brenthutch 444]

11 minutes ago, jakee said:

Yes, that sure helps you prove your made up numbers about the price of gold. 
 

Although since you can now only dodge the issue I suppose it does at least prove that you do get embarrassed.

It’s ok, I can be wrong every now and then. And I know you guys won’t let me forget it. Like when Kallend claimed we were in a recession, I said we were not. I got the percentages wrong but I was correct on the larger point. Just like now, reckless government spending contributes to inflation. I’ll let you guys major in the minors.

Edited September 23, 2024 by brenthutch

[jakee 1,563]

28 minutes ago, brenthutch said:

It’s ok, I can be wrong every now and then. And I know you guys won’t let me forget it. 

It's not that you got it wrong though, is it? You deliberately made up a bunch of numbers out of thin air to make it look like you were right, but couldn't even do that properly because you forgot that Trump was president right up until Biden was.

You're also not right that reckless spending at these levels directly leads to inflation since it's directly contradicted by the evidence from the Trump and Biden administrations.

[brenthutch 444]

10 minutes ago, jakee said:

It's not that you got it wrong though, is it? You deliberately made up a bunch of numbers out of thin air to make it look like you were right, but couldn't even do that properly because you forgot that Trump was president right up until Biden was.

You're also not right that reckless spending at these levels directly leads to inflation since it's directly contradicted by the evidence from the Trump and Biden administrations.

Let’s take a look at what the experts said 
https://www.washingtonpost.com/us-policy/2022/10/09/inflation-economy-biden-covid/

“roughly half or about four percentage points of the recent increase in annual inflation can be attributed to the rescue plan — comes from Francesco Bianchi of Johns Hopkins University, who presented findings from a paper he co-authored at the Federal Reserve’s annual conference in Jackson Hole, Wyo.

 

Four economists at the Federal Reserve Bank of San Francisco in March, after comparing the U.S. experience to that of other advanced economies, said the combined effects of all fiscal measures in 2020 and 2021 had pushed inflation higher, with the effect peaking late last year after the rescue plan took hold at about three percentage points. And Laurence Ball of Johns Hopkins, along with Daniel Leigh and Prachi Mishra of the International Monetary Fund, arrived at a similar figure for the rescue plan alone in a paper presented at a Brookings Institution conference in early September.”

Edited September 23, 2024 by brenthutch

[Phil1111 1,149]

19 minutes ago, brenthutch said:

Let’s take a look at what the experts said 
https://www.washingtonpost.com/us-policy/2022/10/09/inflation-economy-biden-covid/

“roughly half or about four percentage points of the recent increase in annual inflation can be attributed to the rescue plan — comes from Francesco Bianchi of Johns Hopkins University, who presented findings from a paper he co-authored at the Federal Reserve’s annual conference in Jackson Hole, Wyo.

 

Four economists at the Federal Reserve Bank of San Francisco in March, after comparing the U.S. experience to that of other advanced economies, said the combined effects of all fiscal measures in 2020 and 2021 had pushed inflation higher, with the effect peaking late last year after the rescue plan took hold at about three percentage points. And Laurence Ball of Johns Hopkins, along with Daniel Leigh and Prachi Mishra of the International Monetary Fund, arrived at a similar figure for the rescue plan alone in a paper presented at a Brookings Institution conference in early September.”

Everybody deserves a little slack. Not everyone has perfect memory. But the current world view that a person holds is based upon the information and the personal thinking surrounding that information. If you feed yourself a bunch of garbage information and philosophies. Commonsense becomes a difficult outcome for a person.

"The Coronavirus Aid, Relief, and Economic Security Act,^[b][1] also known as the CARES Act,^[2] is a $2.2 trillion economic stimulus bill passed by the 116th U.S. Congress and signed into law by President Donald Trump on March 27, 2020, in response to the economic fallout of the COVID-19 pandemic in the United States.^{[3][4]" above from Wikipedia.}

It was trump and his gang of republicans that brought the covid act into effect.

Separately was the "The Infrastructure Investment and Jobs Act (IIJA), also known as the Bipartisan Infrastructure Law (BIL), (H.R. 3684) is a United States federal statute enacted by the 117th United States Congress and signed into law by President Joe Biden on November 15, 2021.....

This amended version included approximately $1.2 trillion in spending, with $550 billion newly authorized spending on top of what Congress was planning to authorize regularly.

So the Bipartisan infrastructure plan is 1/4 of what trump spent. Furthermore most of that spending has not been allocated yet because other levels of government are still finalizing plans and seeking tenders.

[brenthutch 444]

22 minutes ago, Phil1111 said:

Everybody deserves a little slack. Not everyone has perfect memory. But the current world view that a person holds is based upon the information and the personal thinking surrounding that information. If you feed yourself a bunch of garbage information and philosophies. Commonsense becomes a difficult outcome for a person.

"The Coronavirus Aid, Relief, and Economic Security Act,^[b][1] also known as the CARES Act,^[2] is a $2.2 trillion economic stimulus bill passed by the 116th U.S. Congress and signed into law by President Donald Trump on March 27, 2020, in response to the economic fallout of the COVID-19 pandemic in the United States.^{[3][4]" above from Wikipedia.}

It was trump and his gang of republicans that brought the covid act into effect.

Separately was the "The Infrastructure Investment and Jobs Act (IIJA), also known as the Bipartisan Infrastructure Law (BIL), (H.R. 3684) is a United States federal statute enacted by the 117th United States Congress and signed into law by President Joe Biden on November 15, 2021.....

This amended version included approximately $1.2 trillion in spending, with $550 billion newly authorized spending on top of what Congress was planning to authorize regularly.

So the Bipartisan infrastructure plan is 1/4 of what trump spent. Furthermore most of that spending has not been allocated yet because other levels of government are still finalizing plans and seeking tenders.

I am not against all government spending, some of it was necessary to keep the economy afloat during the COVID lockdowns. However, sending billions of dollars of checks to nearly every single person in the country during a time when the economy was bouncing back but supply chains were still down, against bipartisan opposition, was completely irresponsible. It’s worth remembering that about a TRILLION extra dollars had accumulated in checking accounts during the lockdowns we didn’t need to drop trillions more on a robustly growing economy.

Edited September 23, 2024 by brenthutch

[Phil1111 1,149]

22 minutes ago, brenthutch said:

I am not against all government spending, some of it was necessary to keep the economy afloat during the COVID lockdowns. However, sending billions of dollars of checks to nearly every single person in the country during a time when the economy was bouncing back but supply chains were still down, against bipartisan opposition, was completely irresponsible. It’s worth remembering that about a TRILLION extra dollars had accumulated in checking accounts during the lockdowns we didn’t need to drop trillions more on a robustly growing economy.

Somewhat agree. The plain and simple answer to which US political party spends the most is both. But its trump that did covid relief to the tune of $2.2 trillion. Then because the trump gov was so incompetent of that spending $280 billion was stolen and $123 billion wasted.

27 minutes ago, brenthutch said:

.... It’s worth remembering that about a TRILLION extra dollars had accumulated in checking accounts during the lockdowns we didn’t need to drop trillions more on a robustly growing economy.

The economy was shrinking when the covid bill was debated and implemented.

[JoeWeber 2,825]

26 minutes ago, brenthutch said:

I am not against all government spending, some of it was necessary to keep the economy afloat during the COVID lockdowns. However, sending billions of dollars of checks to nearly every single person in the country during a time when the economy was bouncing back but supply chains were still down, against bipartisan opposition, was completely irresponsible. It’s worth remembering that about a TRILLION extra dollars had accumulated in checking accounts during the lockdowns we didn’t need to drop trillions more on a robustly growing economy.

But we did and now we are coming out of it with a stronger economy than our peers. Compared to what other ails face our nation, you know like the continuation of it as a somewhat functioning democracy, I find your fixation on this ridiculous. Sure egg prices are important, housing costs, too. But right now I'd say civil rights and women's rights and not having to wear paper bags over our heads come November 6 are more important. By the way, have you taken the opportunity to raise rents on any of your tenants in the last 8 years?

[brenthutch 444]

1 hour ago, JoeWeber said:

But we did and now we are coming out of it with a stronger economy than our peers. Compared to what other ails face our nation, you know like the continuation of it as a somewhat functioning democracy, I find your fixation on this ridiculous. Sure egg prices are important, housing costs, too. But right now I'd say civil rights and women's rights and not having to wear paper bags over our heads come November 6 are more important. By the way, have you taken the opportunity to raise rents on any of your tenants in the last 8 years?

No, I raise rents during turnover. What civil rights are of have been violated. (Other than allowing states to decide when a woman can kill her unborn child). If you ask me a person’s ability to house and feed themselves is more important than an embarrassment in the White House 

Edited September 23, 2024 by brenthutch

[SkyDekker 1,465]

no point

Edited September 23, 2024 by SkyDekker

[JoeWeber 2,825]

3 minutes ago, brenthutch said:

No, I raise rents during turnover. 

No turnover in the last 8 years in a college town? Well, I hope they graduate soon.

[brenthutch 444]

1 minute ago, JoeWeber said:

No turnover in the last 8 years in a college town? Well, I hope they graduate soon.

I don’t rent to students, I just had a four year tenant leave, made the adjustment to reflect current market conditions 

Edited September 23, 2024 by brenthutch

[brenthutch 444]

Can we please get back on topic?

[jakee 1,563]

48 minutes ago, brenthutch said:

If you ask me a person’s ability to house and feed themselves is more important than an embarrassment in the White House 

Don't worry - everyone already knows that the reason you keep on lying and lying and lying about the economy is so you can justify voting for Trump.

[SkyDekker 1,465]

1 hour ago, brenthutch said:

If you ask me a person’s ability to house and feed themselves is more important than an embarrassment in the White House 

Are you sure. Cause you are also arguing that the increased spending by the government induced inflation. However that increased spending kept a roof over many people's heads and kept many mouths fed.

[brenthutch 444]

17 minutes ago, SkyDekker said:

Are you sure. Cause you are also arguing that the increased spending by the government induced inflation. However that increased spending kept a roof over many people's heads and kept many mouths fed.

For maybe 10%. The rest of it fulled inflation unnecessarily. I don’t know why you are arguing against a simple truth. 
Did the Democrats pass the American Rescue plan against bipartisan opposition: Yes

Did the American Rescue Plan contribute to inflation: Yes

 

 

[SkyDekker 1,465]

23 minutes ago, brenthutch said:

For maybe 10%. The rest of it fulled inflation unnecessarily. I don’t know why you are arguing against a simple truth. 
Did the Democrats pass the American Rescue plan against bipartisan opposition: Yes

Did the American Rescue Plan contribute to inflation: Yes

 

 

I don't know why you are so happily stating you would have 10% go homeless unable to feed their families to have slightly reduced inflation.

[brenthutch 444]

2 minutes ago, SkyDekker said:

I don't know why you are so happily stating you would have 10% go homeless unable to feed their families to have slightly reduced inflation.

So there was no way to target the spending? I know the exchange student my folks sponsored liked the $2000 she got, having graduated and no longer living in the US, but I fail to see how it helped anyone living here.

[tkhayes 348]

On 9/22/2024 at 6:38 PM, brenthutch said:

Gold

 

gold is not a currency.  But once again, avoid the actual question and change the subject.  The US dollar has not been devalued against any other mainstream currency in the world

[JoeWeber 2,825]

10 minutes ago, brenthutch said:

So there was no way to target the spending? I know the exchange student my folks sponsored liked the $2000 she got, having graduated and no longer living in the US, but I fail to see how it helped anyone living here.

Did she spend it here?

[jakee 1,563]

19 minutes ago, brenthutch said:

So there was no way to target the spending? I know the exchange student my folks sponsored liked the $2000 she got, having graduated and no longer living in the US, but I fail to see how it helped anyone living here.

December 29th, 2020: U.S. House approves $2,000 coronavirus aid checks sought by Trump

Jan 14th, 2021: Biden puts $2,000 stimulus payments back in play

Yes, Biden really did absolutely upend the Trump White House's cautious and considered personal stimulus plan with a brand new, wild and reckless personal stimulus plan. The choice at the ballot box is clear.

[brenthutch 444]

40 minutes ago, JoeWeber said:

Did she spend it here?

No she was living in Switzerland when she got her $$$

[JoeWeber 2,825]

9 minutes ago, brenthutch said:

No she was living in Switzerland when she got her $$$

You broached the payout here so let's call it fair game. Please explain the mechanics of her payment. How was she deemed eligible, etc.

[SkyDekker 1,465]

1 hour ago, brenthutch said:

So there was no way to target the spending? I know the exchange student my folks sponsored liked the $2000 she got, having graduated and no longer living in the US, but I fail to see how it helped anyone living here.

Look if you are going to try to use datum to disprove data there really is no point in having a discussion. However in general, fiscal policy is generally not a scalpel, nor is monetary policy.

 

 

 

Edited September 23, 2024 by SkyDekker