We Could EASILY Fix Inflation Without Raising Rates

[red viking]

Huh? Petroleum production in the U.S. is higher than ever: https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=pet&s=mcrfpus2&f=m

And you're saying that limited production is the reason for the high inflation? 

Wow. 

[Offthemat]

28 minutes ago, red viking said:

Huh? Petroleum production in the U.S. is higher than ever: https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=pet&s=mcrfpus2&f=m

And you're saying that limited production is the reason for the high inflation? 

Wow. 

It has rebounded, but the spiral began in 2021.  Saudi has cut production and sanctions have taken some off the market.  Increased petroleum prices affect the price of everything.  Everything in your house, including the house itself, is there as a result of petroleum.  Even the electricity.  You can see it if you compare a chart of inflation to a chart of oil prices. 

[red viking]

51 minutes ago, Offthemat said:

It has rebounded, but the spiral began in 2021.  Saudi has cut production and sanctions have taken some off the market.  Increased petroleum prices affect the price of everything.  Everything in your house, including the house itself, is there as a result of petroleum.  Even the electricity.  You can see it if you compare a chart of inflation to a chart of oil prices. 

Yes; it affects everything, but that is not news because everything else affects everything too. Everything is related. You must have gotten this from Fox News because not one reputable economist will say that Biden's limiting of U.S. oil production is the #1 reason for inflation, as opposed the ballooned money supply due to skyrocketing deficits. Take a look at the M2 money supply chart during the COVID era. That oil production/Biden theory is a completely whack job theory and demonstrates that you have a very limited understanding of economics. Oil is a global commodity and the U.S. has a  limited impact on the price, even with our increased share of overall production. Given the spike in production under Biden, nobody can logically conclude that it would be that much higher under Fat Donny. 

[Paul158]

2 hours ago, Offthemat said:

It has rebounded, but the spiral began in 2021.  Saudi has cut production and sanctions have taken some off the market.  Increased petroleum prices affect the price of everything.  Everything in your house, including the house itself, is there as a result of petroleum.  Even the electricity.  You can see it if you compare a chart of inflation to a chart of oil prices. 

I have found over time when trying to discuss things with people who do not have the CS factor (common sense) it is nearly impossible to have a productive conversation. It doesn't matter the number of facts you present it goes in one ear and out the other.

Edited March 15 by Paul158
missed a word.

[Offthemat]

20 minutes ago, red viking said:

Yes; it affects everything, but that is not news because everything else affects everything too. Everything is related. You must have gotten this from Fox News because not one reputable economist will say that Biden's limiting of U.S. oil production is the #1 reason for inflation, as opposed the ballooned money supply due to skyrocketing deficits. Take a look at the M2 money supply chart during the COVID era. That oil production/Biden theory is a completely whack job theory and demonstrates that you have a very limited understanding of economics. Oil is a global commodity and the U.S. has a  limited impact on the price, even with our increased share of overall production. Given the spike in production under Biden, nobody can logically conclude that it would be that much higher under Fat Donny. 

If you analyze your own argument you’ll realize that you are making my argument for me.  American debt would not cause worldwide inflation, yet it exists.  In this case, the policy Biden took caused the price at the pump to more than double.  That increased cost had to be covered by every producer of everything.  From the farmer’s tractor, the miner’s bulldozer, every shipper’s vehicle, to every employee’s transportation to and from work.  The electric company and even the water company had to raise prices to cover the increased costs of energy and every employer had to then increase wages so their employees could cope with their increased expenses.  The spiral was started and it has not stopped.  
 

Your suggestion has limited likelihood of success as it would decrease the amount of available capital, a necessary step in correcting the problem, but only minimally.  If you want to jumpstart the correction, Biden’s proposed corporate tax hikes will help.  Together they would speed up the reduction of discretionary spending consumers are already participating in and it would force corporations to take the steps to reduce expenses that they’ve already begun.  Layoffs.  Then recession (that may have already started) then, after time, and some responsible monetary measures, the economy can recover. 

[ThreePointTakedown]

20 hours ago, mspart said:

NPS isn't bad.   But other than that, the Feds waste a lot of money.  

mspart

https://www.cbpp.org/research/kansas-provides-compelling-evidence-of-failure-of-supply-side-tax-cuts

Waste could and should be curtailed. 

[ThreePointTakedown]

25 minutes ago, Paul158 said:

I have found over time when trying to discuss things with people who do not have the CS factor (common sense) it is nearly impossible to have a productive conversation. It doesn't matter the number of facts you present it goes in one ear and out the other.

I have always felt that the CS factor usually works against a productive conversation. People feel they are smart enough to have a grasp on just about every issue and declaring their opinion is usually the thing that holds them to it. No the facts. Just trying not to admit that they've been tricked in so many words. 

Its why fraud scams work so well. People are embarrassed to admit they were took. Delay in reporting allows for the scam to work again. 

[Interviewed_at_Weehawken]

I saw a thread about "Fix inflation" and thought it was another argument to put Crooham at #1!

[Offthemat]

17 minutes ago, ThreePointTakedown said:

I have always felt that the CS factor usually works against a productive conversation. People feel they are smart enough to have a grasp on just about every issue and declaring their opinion is usually the thing that holds them to it. No the facts. Just trying not to admit that they've been tricked in so many words. 

Its why fraud scams work so well. People are embarrassed to admit they were took. Delay in reporting allows for the scam to work again. 

Oh my!  I would have never guessed you’d have a dim view of common sense.  /s

[ThreePointTakedown]

1 minute ago, Offthemat said:

Oh my!  I would have never guessed you’d have a dim view of common sense.  /s

There is no such thing as common sense. People use it to convince themselves they could not possibly have bad information. Rather then being open to the idea that you don't know everything about anything. They dig in and refuse to accept things that might make them use energy to change their mind. 

Also the sunken cost fallacy plays in heavily to not changing your mind. 

People don't want to give up on an issue if they've committed time and energy and part of their identity to this thing being true(I'll bet you can think of a few examples for yourself). Example: religion. Takes people a long time to realize its all BS. But they are committed, usually before they have memory of it, to this thing that makes up their whole world. Why do you think the rates of theism among people raised athiest is so very, very, low? They learn that is all trickery and can see through the tactics better. 

Sorry, spoiler alert. Religion is BS. 

Change my mind!

Maybe we can start a new thread for this one. 

[Offthemat]

15 minutes ago, ThreePointTakedown said:

There is no such thing as common sense. People use it to convince themselves they could not possibly have bad information. Rather then being open to the idea that you don't know everything about anything. They dig in and refuse to accept things that might make them use energy to change their mind. 

Also the sunken cost fallacy plays in heavily to not changing your mind. 

People don't want to give up on an issue if they've committed time and energy and part of their identity to this thing being true(I'll bet you can think of a few examples for yourself). Example: religion. Takes people a long time to realize its all BS. But they are committed, usually before they have memory of it, to this thing that makes up their whole world. Why do you think the rates of theism among people raised athiest is so very, very, low? They learn that is all trickery and can see through the tactics better. 

Sorry, spoiler alert. Religion is BS. 

Change my mind!

Maybe we can start a new thread for this one. 

If you could change the subject to anything you wanted, what would it be?

[Ohio Elite]

16 minutes ago, ThreePointTakedown said:

 

 

Sorry, spoiler alert. Religion is BS. 

 

This is hilarious coming from the guy whose blue haired cult rides around on unicorns in rainbow land..

[ThreePointTakedown]

1 hour ago, Ohio Elite said:

This is hilarious coming from the guy whose blue haired cult rides around on unicorns in rainbow land..

Would love to know how you equate the two. 

[Bigbrog]

1 hour ago, ThreePointTakedown said:

Would love to know how you equate the two. 

Look in the mirror

[Lipdrag]

RV's assertion that the simple way to stop inflation is to take money away from people.  Voila!  No longer do we have too much money chasing too few goods.  But he must add a second step.  Immediately burn the money.  DO NOT GIVE IT TO GOVERNMENT!!!  Because for every dollar you give to government the government will spend 110% to 120% of it. 

So if RV is unwilling to finish his easy method - i.e. limit current spending by all government entities to 25% of GDP  (In other words, give Pharoah 1/4 of the productive output of my life) then he might be on to something.  But if he proposes taking the money to give to a bunch of imbeciles with incentive to give it all away and then further shackle  my grandchildren with more crushing debt then there is nothing easy about it.

[JimmyBT]

On 3/15/2024 at 1:35 PM, ThreePointTakedown said:

There is no such thing as common sense. People use it to convince themselves they could not possibly have bad information. Rather then being open to the idea that you don't know everything about anything. They dig in and refuse to accept things that might make them use energy to change their mind. 

Also the sunken cost fallacy plays in heavily to not changing your mind. 

People don't want to give up on an issue if they've committed time and energy and part of their identity to this thing being true(I'll bet you can think of a few examples for yourself). Example: religion. Takes people a long time to realize its all BS. But they are committed, usually before they have memory of it, to this thing that makes up their whole world. Why do you think the rates of theism among people raised athiest is so very, very, low? They learn that is all trickery and can see through the tactics better. 

Sorry, spoiler alert. Religion is BS. 

Change my mind!

Maybe we can start a new thread for this one. 

Says the queen of convincing themselves their information is never wrong.  

[JimmyBT]

3 hours ago, Lipdrag said:

RV's assertion that the simple way to stop inflation is to take money away from people.  Voila!  No longer do we have too much money chasing too few goods.  But he must add a second step.  Immediately burn the money.  DO NOT GIVE IT TO GOVERNMENT!!!  Because for every dollar you give to government the government will spend 110% to 120% of it. 

So if RV is unwilling to finish his easy method - i.e. limit current spending by all government entities to 25% of GDP  (In other words, give Pharoah 1/4 of the productive output of my life) then he might be on to something.  But if he proposes taking the money to give to a bunch of imbeciles with incentive to give it all away and then further shackle  my grandchildren with more crushing debt then there is nothing easy about it.

Yep. Anything the gov touches turns to shit.  Except for NPS of course. 

[jross]

For every $1 spent this year without an auditable paper trail, the budget reduces by $2 next year.

For every percent spent over budget this year, the governement workforce decreases by the same percent.

Figure it out gov.

[ionel]

4 minutes ago, jross said:

For every $1 spent this year without an auditable paper trail, the budget reduces by $2 next year.

For every percent spent over budget this year, the governement workforce decreases by the same percent.

Figure it out gov.

Good plan.

[red viking]

16 hours ago, ionel said:

Good plan.

Lol. If u did this, your fat/bloated military spending would drop more than everything else combined. I'd love that, actually. 

[red viking]

23 hours ago, Lipdrag said:

RV's assertion that the simple way to stop inflation is to take money away from people.  Voila!  No longer do we have too much money chasing too few goods.  But he must add a second step.  Immediately burn the money.  DO NOT GIVE IT TO GOVERNMENT!!!  Because for every dollar you give to government the government will spend 110% to 120% of it. 

So if RV is unwilling to finish his easy method - i.e. limit current spending by all government entities to 25% of GDP  (In other words, give Pharoah 1/4 of the productive output of my life) then he might be on to something.  But if he proposes taking the money to give to a bunch of imbeciles with incentive to give it all away and then further shackle  my grandchildren with more crushing debt then there is nothing easy about it.

Dumb idea. Letting people keep their money doesn't help the deficit at all. It actually makes the deficit and inflation worse unless you cut spending by the same amount, and that isn't happening. 

[jross]

Everything would be cut at first, and then they would learn.  Much more than the military.

https://www.downsizinggovernment.org/government-cost-overruns

 

[ThreePointTakedown]

On 3/16/2024 at 5:18 PM, JimmyBT said:

Says the queen of convincing themselves their information is never wrong.  

Sorry. You probably didn't understand what I was trying to say. 

You can't prove that my information is wrong. Its your fault. You're bad at this. 

Again sorry that you couldn't wrap your mind around the idea. But like I mentioned, sense is not common. As we have all just learned. 

[JimmyBT]

13 minutes ago, ThreePointTakedown said:

Sorry. You probably didn't understand what I was trying to say. 

You can't prove that my information is wrong. Its your fault. You're bad at this. 

Again sorry that you couldn't wrap your mind around the idea. But like I mentioned, sense is not common. As we have all just learned. 

You’re sorry all right.  

[JimmyBT]

19 hours ago, red viking said:

Dumb idea. Letting people keep their money doesn't help the deficit at all. It actually makes the deficit and inflation worse unless you cut spending by the same amount, and that isn't happening. 

The Dumb idea is giving government more money to waste