Inflation

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PackFansXL
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Why Democrats Can't Handle Inflation
Quote:

Also, as with many economic phenomena, inflation is driven both by fundamentals (supply of money and supply of goods/services) and by expectation (expected future supply of money and expected future supply of goods/services). Expectations are part of the vicious cycle in which workers demand more wages to keep up with the cost of living, and those higher wages drive prices up further. They also disrupt business planning, which further constricts the supply of goods and services.

There are only two fixes for inflation: reduce the supply of money, or increase the supply of goods and services. How do you reduce the supply of money? There are four ways to do this:

[ol]
  • Slash public spending, so the government is injecting less money into the economy.
  • Raise interest rates, which puts recessionary pressure on the economy.
  • Raise taxes without raising spending, so the government is extracting more money from the economy.
  • Incentivize a shift from spending to savings, which reduces the amount of money chasing goods and services.
  • [/ol]
    Increasing the supply of goods and services can really only be done by government by lowering the cost of supply either by reducing regulatory burdens, eliminating environmental roadblocks to drilling and other development, cutting business taxes, reducing trade barriers, or pursuing other efforts to get government out of the hair of business.
    As much as I enjoy watching Democrats flail when they get in office, this inflation problem destroys everyone. We must take this seriously and aggressively work to get it under control. What are your thoughts on the optimal solution(s)?
    FlossyDFlynt
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    Raise interest rates
    Stop printing money

    Yes, itll hurt in the short term. But we are heading towards the edge of the cliff rapidly at the current rate
    Oldsouljer
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    FlossyDFlynt said:

    Raise interest rates
    Stop printing money

    Yes, itll hurt in the short term. But we are heading towards the edge of the cliff rapidly at the current rate
    And slash government spending which chases goods and encourage more saving which puts money on the sidelines.
    Werewolf
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    LMAO
    Oldsouljer
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    Werewolf said:

    LMAO
    Not me. I remember the 70s. Not a fun time, I seriously thought we were running out of gas before I could get my drivers license, and would have to take driving lessons from our Amish neighbors. Prices never seemed to stop rising and then there was Jerry Ford wearing that stupid and worthless WIN (whip inflation now) button. I guess the actions Paul Volcker ended up having to take, never occurred to anyone in the seventies.
    Werewolf
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    ^ My consternation is with not understanding that this is intentional.

    When WE can't see this then WE are all in deep doo doo until more of WE see what's going on. WE are occupied by a belligerent force and FREE elections begins to fix the problems. Turn off the Globalist-controlled media once and for all and look elsewhere. There are good candidates that aren't controlled or corrupted and WE have to identify them. They don't have big money supporting them in many cases.
    hokiewolf
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    PackFansXL said:

    Why Democrats Can't Handle Inflation
    Quote:

    Also, as with many economic phenomena, inflation is driven both by fundamentals (supply of money and supply of goods/services) and by expectation (expected future supply of money and expected future supply of goods/services). Expectations are part of the vicious cycle in which workers demand more wages to keep up with the cost of living, and those higher wages drive prices up further. They also disrupt business planning, which further constricts the supply of goods and services.

    There are only two fixes for inflation: reduce the supply of money, or increase the supply of goods and services. How do you reduce the supply of money? There are four ways to do this:

    [ol]
  • Slash public spending, so the government is injecting less money into the economy.
  • Raise interest rates, which puts recessionary pressure on the economy.
  • Raise taxes without raising spending, so the government is extracting more money from the economy.
  • Incentivize a shift from spending to savings, which reduces the amount of money chasing goods and services.
  • [/ol]
    Increasing the supply of goods and services can really only be done by government by lowering the cost of supply either by reducing regulatory burdens, eliminating environmental roadblocks to drilling and other development, cutting business taxes, reducing trade barriers, or pursuing other efforts to get government out of the hair of business.
    As much as I enjoy watching Democrats flail when they get in office, this inflation problem destroys everyone. We must take this seriously and aggressively work to get it under control. What are your thoughts on the optimal solution(s)?
    You're going to make me have to buy a National Review subscription with all these good articles you're posting.

    I agree with everything here with the biggest issue being government spending. That's the one thing that no one is discussing as a solution.
    Originator of the Tony Adams Scale
    cowboypack02
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    I'm rooting for it honestly. I can afford it. I feel a little bad for all of the people who are suffering, but at the same time low income folks vote for democrats do a wide majority, so i'm glad that those folks are getting to experience the consequences of the policies of who they vote for in real time.

    I think its a valuable experience for them
    GuerrillaPack
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    cowboypack02 said:

    I'm rooting for it honestly. I can afford it. I feel a little bad for all of the people who are suffering, but at the same time low income folks vote for democrats do a wide majority, so i'm glad that those folks are getting to experience the consequences of the policies of who they vote for in real time.

    I think its a valuable experience for them
    Yeah, but the communist Democrats (and Marxist RINO) "solution" for poor and former middle class people not being able to afford to live will be to enact all sorts of socialist welfare programs -- such as the "stimulus checks", "delaying" rent payments and evictions, and eventually universal basic income. All of this, of course, involves stealing from the middle and upper class (via taxation) and "re-distributing" that wealth to the lower classes, and taking on trillions more in debt -- which will further destroy the middle class and entire economy (by design), and only exacerbate inflation, making all of the problems worse.

    Oldsouljer
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    cowboypack02 said:

    I'm rooting for it honestly. I can afford it. I feel a little bad for all of the people who are suffering, but at the same time low income folks vote for democrats do a wide majority, so i'm glad that those folks are getting to experience the consequences of the policies of who they vote for in real time.

    I think its a valuable experience for them
    I always tell people, "there are no good times, there are no bad times", it's how you're prepared for whatever comes.
    PackFansXL
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    hokiewolf said:

    PackFansXL said:

    Why Democrats Can't Handle Inflation
    Quote:

    Also, as with many economic phenomena, inflation is driven both by fundamentals (supply of money and supply of goods/services) and by expectation (expected future supply of money and expected future supply of goods/services). Expectations are part of the vicious cycle in which workers demand more wages to keep up with the cost of living, and those higher wages drive prices up further. They also disrupt business planning, which further constricts the supply of goods and services.

    There are only two fixes for inflation: reduce the supply of money, or increase the supply of goods and services. How do you reduce the supply of money? There are four ways to do this:

    [ol]
  • Slash public spending, so the government is injecting less money into the economy.
  • Raise interest rates, which puts recessionary pressure on the economy.
  • Raise taxes without raising spending, so the government is extracting more money from the economy.
  • Incentivize a shift from spending to savings, which reduces the amount of money chasing goods and services.
  • [/ol]
    Increasing the supply of goods and services can really only be done by government by lowering the cost of supply either by reducing regulatory burdens, eliminating environmental roadblocks to drilling and other development, cutting business taxes, reducing trade barriers, or pursuing other efforts to get government out of the hair of business.
    As much as I enjoy watching Democrats flail when they get in office, this inflation problem destroys everyone. We must take this seriously and aggressively work to get it under control. What are your thoughts on the optimal solution(s)?
    You're going to make me have to buy a National Review subscription with all these good articles you're posting.

    I agree with everything here with the biggest issue being government spending. That's the one thing that no one is discussing as a solution.
    hokie, NR is the best alternative to the plethora of left to extreme left media. I hope you do get a subscription. They promote conservatism and pounce on those who violate those principles regardless of which political party they represent. Of course, the worst violators are typically associated with the Democrats, but there are still too many Republicans who misbehave and get called out for it.
    hokiewolf
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    PackFansXL said:

    hokiewolf said:

    PackFansXL said:

    Why Democrats Can't Handle Inflation
    Quote:

    Also, as with many economic phenomena, inflation is driven both by fundamentals (supply of money and supply of goods/services) and by expectation (expected future supply of money and expected future supply of goods/services). Expectations are part of the vicious cycle in which workers demand more wages to keep up with the cost of living, and those higher wages drive prices up further. They also disrupt business planning, which further constricts the supply of goods and services.

    There are only two fixes for inflation: reduce the supply of money, or increase the supply of goods and services. How do you reduce the supply of money? There are four ways to do this:

    [ol]
  • Slash public spending, so the government is injecting less money into the economy.
  • Raise interest rates, which puts recessionary pressure on the economy.
  • Raise taxes without raising spending, so the government is extracting more money from the economy.
  • Incentivize a shift from spending to savings, which reduces the amount of money chasing goods and services.
  • [/ol]
    Increasing the supply of goods and services can really only be done by government by lowering the cost of supply either by reducing regulatory burdens, eliminating environmental roadblocks to drilling and other development, cutting business taxes, reducing trade barriers, or pursuing other efforts to get government out of the hair of business.
    As much as I enjoy watching Democrats flail when they get in office, this inflation problem destroys everyone. We must take this seriously and aggressively work to get it under control. What are your thoughts on the optimal solution(s)?
    You're going to make me have to buy a National Review subscription with all these good articles you're posting.

    I agree with everything here with the biggest issue being government spending. That's the one thing that no one is discussing as a solution.
    hokie, NR is the best alternative to the plethora of left to extreme left media. I hope you do get a subscription. They promote conservatism and pounce on those who violate those principles regardless of which political party they represent. Of course, the worst violators are typically associated with the Democrats, but there are still too many Republicans who misbehave and get called out for it.
    Oh I know. I listen to their podcasts and I'm a big fan of Charlie Cooke. I have a sub to The Dispatch already, similar approach to NR.
    Originator of the Tony Adams Scale
    cowboypack02
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    GuerrillaPack said:

    cowboypack02 said:

    I'm rooting for it honestly. I can afford it. I feel a little bad for all of the people who are suffering, but at the same time low income folks vote for democrats do a wide majority, so i'm glad that those folks are getting to experience the consequences of the policies of who they vote for in real time.

    I think its a valuable experience for them
    Yeah, but the communist Democrats (and Marxist RINO) "solution" for poor and former middle class people not being able to afford to live will be to enact all sorts of socialist welfare programs -- such as the "stimulus checks", "delaying" rent payments and evictions, and eventually universal basic income. All of this, of course, involves stealing from the middle and upper class (via taxation) and "re-distributing" that wealth to the lower classes, and taking on trillions more in debt -- which will further destroy the middle class and entire economy (by design), and only exacerbate inflation, making all of the problems worse.


    Fortunately....or unfortunately depending on who I run across...i'm prepared for that as well....
    hokiewolf
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    GuerrillaPack said:

    cowboypack02 said:

    I'm rooting for it honestly. I can afford it. I feel a little bad for all of the people who are suffering, but at the same time low income folks vote for democrats do a wide majority, so i'm glad that those folks are getting to experience the consequences of the policies of who they vote for in real time.

    I think its a valuable experience for them
    Yeah, but the communist Democrats (and Marxist RINO) "solution" for poor and former middle class people not being able to afford to live will be to enact all sorts of socialist welfare programs -- such as the "stimulus checks", "delaying" rent payments and evictions, and eventually universal basic income. All of this, of course, involves stealing from the middle and upper class (via taxation) and "re-distributing" that wealth to the lower classes, and taking on trillions more in debt -- which will further destroy the middle class and entire economy (by design), and only exacerbate inflation, making all of the problems worse.


    Why would they do that?
    Originator of the Tony Adams Scale
    Werewolf
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    ^ Standing in the highway wouldn't see a Mack truck coming when it was 10-ft from him.
    BBW12OG
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    Werewolf said:

    ^ Standing in the highway wouldn't see a Mack truck coming when it was 10-ft from him.
    Of course he couldn't....

    People of the participation trophy generation believe what they are told not what they see. Takes way, way too much effort to think for yourself, do things on your own and not have everything spoon fed to you.
    Big Bad Wolf. OG...2002

    "The Democracy will cease to exist when you take away from those who are willing to work and give to those who would not."
    - Thomas Jefferson
    GuerrillaPack
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    hokiewolf said:

    GuerrillaPack said:

    cowboypack02 said:

    I'm rooting for it honestly. I can afford it. I feel a little bad for all of the people who are suffering, but at the same time low income folks vote for democrats do a wide majority, so i'm glad that those folks are getting to experience the consequences of the policies of who they vote for in real time.

    I think its a valuable experience for them
    Yeah, but the communist Democrats (and Marxist RINO) "solution" for poor and former middle class people not being able to afford to live will be to enact all sorts of socialist welfare programs -- such as the "stimulus checks", "delaying" rent payments and evictions, and eventually universal basic income. All of this, of course, involves stealing from the middle and upper class (via taxation) and "re-distributing" that wealth to the lower classes, and taking on trillions more in debt -- which will further destroy the middle class and entire economy (by design), and only exacerbate inflation, making all of the problems worse.


    Why would they do that?


    Why would they intentionally destroy the existing (capitalist) economic system, and want to make people poor? This has been the goal of the Marxists from the beginning. Marx openly called for the destruction of the "bourgeoisie" (middle class). Their true goal is to impoverish everyone, confiscating their wealth and making the "1%" ruling elites much richer, and making the masses much easier to subjugate and control. And this has been implemented in every nation where communism has taken over -Soviet Union, China, Cuba, etc.

    You do know that the Left/Democrats are ideologically rooted in Marxism, right?
    hokiewolf
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    GuerrillaPack said:

    hokiewolf said:

    GuerrillaPack said:

    cowboypack02 said:

    I'm rooting for it honestly. I can afford it. I feel a little bad for all of the people who are suffering, but at the same time low income folks vote for democrats do a wide majority, so i'm glad that those folks are getting to experience the consequences of the policies of who they vote for in real time.

    I think its a valuable experience for them
    Yeah, but the communist Democrats (and Marxist RINO) "solution" for poor and former middle class people not being able to afford to live will be to enact all sorts of socialist welfare programs -- such as the "stimulus checks", "delaying" rent payments and evictions, and eventually universal basic income. All of this, of course, involves stealing from the middle and upper class (via taxation) and "re-distributing" that wealth to the lower classes, and taking on trillions more in debt -- which will further destroy the middle class and entire economy (by design), and only exacerbate inflation, making all of the problems worse.


    Why would they do that?


    Why would they intentionally destroy the existing (capitalist) economic system, and want to make people poor? This has been the goal of the Marxists from the beginning. Marx openly called for the destruction of the "bourgeoisie" (middle class). Their true goal is to impoverish everyone, confiscating their wealth and making the "1%" ruling elites much richer, and making the masses much easier to subjugate and control. And this has been implemented in every nation where communism has taken over -Soviet Union, China, Cuba, etc.

    You do know that the Left/Democrats are ideologically rooted in Marxism, right?
    Yes, but it seems to not be working out for them so far, not sure doubling down is going to take us to the Soviet Union with the election coming up in November.
    Originator of the Tony Adams Scale
    Werewolf
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    GP, I don't agree with you and BBW necessarily about this as being a MARXIST effort although a good # of the D side are Marxist. The end goal is essentially a Marxist life though.

    I think the Globalist intent is more of a tiered modern-feudalistic system.......similar to the CCP system. Not so much a Lenin-Trotsky system. They can get us there several different ways. The question is how hard of a push are they going to make? How hard do the Patriots make it for them will determine it.........and how quickly people can wake up and get away from R vrs D bu$$**** will determine it. Most R's are on-board with this and 99% of the D's are. Hawaii's Congresswoman is not on board and possibly Joe Manchin might not be. On the R side, we've got Rand Paul, Ron Johnson, maybe Ted Cruz and Josh Hawley, and most of the Freedom Caucus that will resist.
    GuerrillaPack
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    hokiewolf said:

    GuerrillaPack said:

    hokiewolf said:

    GuerrillaPack said:

    cowboypack02 said:

    I'm rooting for it honestly. I can afford it. I feel a little bad for all of the people who are suffering, but at the same time low income folks vote for democrats do a wide majority, so i'm glad that those folks are getting to experience the consequences of the policies of who they vote for in real time.

    I think its a valuable experience for them
    Yeah, but the communist Democrats (and Marxist RINO) "solution" for poor and former middle class people not being able to afford to live will be to enact all sorts of socialist welfare programs -- such as the "stimulus checks", "delaying" rent payments and evictions, and eventually universal basic income. All of this, of course, involves stealing from the middle and upper class (via taxation) and "re-distributing" that wealth to the lower classes, and taking on trillions more in debt -- which will further destroy the middle class and entire economy (by design), and only exacerbate inflation, making all of the problems worse.


    Why would they do that?


    Why would they intentionally destroy the existing (capitalist) economic system, and want to make people poor? This has been the goal of the Marxists from the beginning. Marx openly called for the destruction of the "bourgeoisie" (middle class). Their true goal is to impoverish everyone, confiscating their wealth and making the "1%" ruling elites much richer, and making the masses much easier to subjugate and control. And this has been implemented in every nation where communism has taken over -Soviet Union, China, Cuba, etc.

    You do know that the Left/Democrats are ideologically rooted in Marxism, right?
    Yes, but it seems to not be working out for them so far, not sure doubling down is going to take us to the Soviet Union with the election coming up in November.
    The elections are largely rigged. They don't have to worry about the people rejecting their agenda. They'll just install whatever puppet politicians they want in the rigged elections (including RINO fake conservatives) to advance the agenda.
    TheStorm
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    Oldsouljer said:

    Werewolf said:

    LMAO
    Not me. I remember the 70s. Not a fun time, I seriously thought we were running out of gas before I could get my drivers license, and would have to take driving lessons from our Amish neighbors. Prices never seemed to stop rising and then there was Jerry Ford wearing that stupid and worthless WIN (whip inflation now) button. I guess the actions Paul Volcker ended up having to take, never occurred to anyone in the seventies.
    LOL. I know... but in reality in 1973, gas increased from ~ $0.30 / Gallon to LESS THAN $0.60 / Gallon.

    We've more than doubled the $1.75 / Gallon that I was paying for BRANDED Gasoline on the day of the 2020 Election down here on the coast...
    Werewolf
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    Now, we're just missing the long lines and select stations being open a few hours until they sell out.
    TheStorm
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    Werewolf said:

    Now, we're just missing the long lines and select stations being open a few hours until they sell out.
    For sure. There was definitely more of a true "shortage" in 1973... just getting a personal chuckle about how upset we all were over paying $0.50+ / Gallon for gas at that time.

    In North Carolina specifically, you also had the license plates that ended with an odd number only allowed to gas up on certain days... with even numbers on the others.

    Just another example of things that most people quickly forget... remember the "Blue Laws"?
    caryking
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    hokiewolf said:

    GuerrillaPack said:

    hokiewolf said:

    GuerrillaPack said:

    cowboypack02 said:

    I'm rooting for it honestly. I can afford it. I feel a little bad for all of the people who are suffering, but at the same time low income folks vote for democrats do a wide majority, so i'm glad that those folks are getting to experience the consequences of the policies of who they vote for in real time.

    I think its a valuable experience for them
    Yeah, but the communist Democrats (and Marxist RINO) "solution" for poor and former middle class people not being able to afford to live will be to enact all sorts of socialist welfare programs -- such as the "stimulus checks", "delaying" rent payments and evictions, and eventually universal basic income. All of this, of course, involves stealing from the middle and upper class (via taxation) and "re-distributing" that wealth to the lower classes, and taking on trillions more in debt -- which will further destroy the middle class and entire economy (by design), and only exacerbate inflation, making all of the problems worse.


    Why would they do that?


    Why would they intentionally destroy the existing (capitalist) economic system, and want to make people poor? This has been the goal of the Marxists from the beginning. Marx openly called for the destruction of the "bourgeoisie" (middle class). Their true goal is to impoverish everyone, confiscating their wealth and making the "1%" ruling elites much richer, and making the masses much easier to subjugate and control. And this has been implemented in every nation where communism has taken over -Soviet Union, China, Cuba, etc.

    You do know that the Left/Democrats are ideologically rooted in Marxism, right?
    Yes, but it seems to not be working out for them so far, not sure doubling down is going to take us to the Soviet Union with the election coming up in November.
    Hokie, I think your question: "Why would they do that?" is one of the best questions asked, on here, in a long time...

    Why would they do that? Man, I don't know. Could they be really this dumb? I don't think they are, personally. So, that brings up your question... Why? When you look at the world and love for a union of all, you have to think this is purposeful. I don't know for sure; however, it certainly looks deliberate...
    On the illegal or criminal immigrants…

    “they built the country, the reason our economy is growing”

    Joe Biden
    TheStorm
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    caryking said:

    hokiewolf said:

    GuerrillaPack said:

    hokiewolf said:

    GuerrillaPack said:

    cowboypack02 said:

    I'm rooting for it honestly. I can afford it. I feel a little bad for all of the people who are suffering, but at the same time low income folks vote for democrats do a wide majority, so i'm glad that those folks are getting to experience the consequences of the policies of who they vote for in real time.

    I think its a valuable experience for them
    Yeah, but the communist Democrats (and Marxist RINO) "solution" for poor and former middle class people not being able to afford to live will be to enact all sorts of socialist welfare programs -- such as the "stimulus checks", "delaying" rent payments and evictions, and eventually universal basic income. All of this, of course, involves stealing from the middle and upper class (via taxation) and "re-distributing" that wealth to the lower classes, and taking on trillions more in debt -- which will further destroy the middle class and entire economy (by design), and only exacerbate inflation, making all of the problems worse.


    Why would they do that?


    Why would they intentionally destroy the existing (capitalist) economic system, and want to make people poor? This has been the goal of the Marxists from the beginning. Marx openly called for the destruction of the "bourgeoisie" (middle class). Their true goal is to impoverish everyone, confiscating their wealth and making the "1%" ruling elites much richer, and making the masses much easier to subjugate and control. And this has been implemented in every nation where communism has taken over -Soviet Union, China, Cuba, etc.

    You do know that the Left/Democrats are ideologically rooted in Marxism, right?
    Yes, but it seems to not be working out for them so far, not sure doubling down is going to take us to the Soviet Union with the election coming up in November.
    Hokie, I think your question: "Why would they do that?" is one of the best questions asked, on here, in a long time...

    Why would they do that? Man, I don't know. Could they be really this dumb? I don't think they are, personally. So, that brings up your question... Why? When you look at the world and love for a union of all, you have to think this is purposeful. I don't know for sure; however, it certainly looks deliberate...
    Yes we do. It can only be purposeful and deliberate.
    caryking
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    I think we are missing a key component to the issue we have. Yes, Reagan and Volkert did exactly what the NR article is saying and it worked. They took their medicine, in his first term and now is celebrated by conservatives.

    We have a huge difference, in todays economy... we do not have a manufacturing base any longer. It's now overseas.

    I've read where if we try the same recommendation, in the NR article, this will cause a catastrophic collapse like we've newer seen. In fact, they are recommending continuing the money printing. BTW, this goes completely against this persons belief; however, he says, at this point, we have no choice. The economic system has to have a stimulus!

    I'm not an economist. I do read a lot. I don't know what is right. I do think we are closer to catastrophe that any of us realize!

    According to Peter Navarro, he said that our negative (first quarter) GDP would have been positive had the trade imbalance weren't so upside down. To me, that says a lot!!!
    On the illegal or criminal immigrants…

    “they built the country, the reason our economy is growing”

    Joe Biden
    ncsualum05
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    It's over. There's nothing that can be done at this point. You have to raise rates and do QT... temporarily wreck the economy to get it under control and then when things get bad enough resume QE and lower rates. A never ending cycle. Too much money has been printed and too much gov't debt. It's a 30 trillion dollar monster that gets bigger every year. The economy will forever now be controlled artificially through these fed cycles. People will not make the sacrifices for govt to cut spending and lavish programs. Politicians will never vote themselves out of office in the name of fiscal responsibility. We are so far past that point anyway that even if you did want to try you couldn't.

    World leaders know this and are pushing for this "great reset". Who knows if they'll accomplish their goals or what kind of collapse or reset the future holds. Best just to live your life, control what you can, and hope you still have freedom and possessions for your life span.
    BBW12OG
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    As far as why they are doing it and being so obvious about it?

    They are confident, overly I do believe, that the shenanigans they pulled in 2020 to secure wins in key battleground states will once again keep them in power in the Senate and House.

    I believe they have underestimated the will of the American people and the tides are starting to turn on them. Less than 100k ballots decided the Presidential race. Far less than that decided control of the Senate.

    A few ballot stuffers here and there decided that election.

    Do I think the GOP wins in November. Yes. Is it a guarantee? No.

    When you control 98% of the media, the FBI, CIA, and DOJ it's like a JV football team playing against the Super Bowl Champs. But, the will of the American people hopefully will stand up to the lefties and their blindly following sheep that support them.

    Present company included by the way. It's gloves off right? We had a moderator tell us as much!!
    Big Bad Wolf. OG...2002

    "The Democracy will cease to exist when you take away from those who are willing to work and give to those who would not."
    - Thomas Jefferson
    Werewolf
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    " I'm not an economist. I do read a lot. I don't know what is right. I do think we are closer to catastrophe that any of us realize!

    According to Peter Navarro, he said that our negative (first quarter) GDP would have been positive had the trade imbalance weren't so upside down. To me, that says a lot!!!"


    Watch MonkeyWerx on Flufftube.....there is essentially zero trade between the US and China right now. Their (CCP) cargo ships are moving up and down their coast. Get ready, in 2 or 3 more months it won't be fun.
    PackFansXL
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    Quote:

    Democratic senator Ron Wyden, the chairman of the Finance Committee, wants a new 21 percent surtax on oil companies. Wyden somehow believes a new tax on oil companies will be good for consumers, Bloomberg reports:
    Quote:

    The proposal by Senator Ron Wyden, an Oregon Democrat who chairs the tax-writing Finance Committee, would mean oil companies face federal taxes of as much as 42% on profits considered excessive the 21% US corporate tax rate plus a new 21% surtax, according to two people briefed on the proposal.

    Failure to understand basic economics principles should prevent Democrat persons from holding positions of influence anywhere near our tax laws.
    cowboypack02
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    PackFansXL said:

    Quote:

    Democratic senator Ron Wyden, the chairman of the Finance Committee, wants a new 21 percent surtax on oil companies. Wyden somehow believes a new tax on oil companies will be good for consumers, Bloomberg reports:
    Quote:

    The proposal by Senator Ron Wyden, an Oregon Democrat who chairs the tax-writing Finance Committee, would mean oil companies face federal taxes of as much as 42% on profits considered excessive the 21% US corporate tax rate plus a new 21% surtax, according to two people briefed on the proposal.

    Failure to understand basic economics principles should prevent Democrat persons from holding positions of influence anywhere near our tax laws.
    So a politician thinks that as high as gas prices are we should tack another 21% onto that price.....wow. That's almost as bad as the Tesla woman from last week who bragged about not caring about gas prices because she drove a Tesla....

    I kinda feel like democrats are slowly crawling towards that "let them eat cake" stage of things..
    Oldsouljer
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    cowboypack02 said:

    PackFansXL said:

    Quote:

    Democratic senator Ron Wyden, the chairman of the Finance Committee, wants a new 21 percent surtax on oil companies. Wyden somehow believes a new tax on oil companies will be good for consumers, Bloomberg reports:
    Quote:

    The proposal by Senator Ron Wyden, an Oregon Democrat who chairs the tax-writing Finance Committee, would mean oil companies face federal taxes of as much as 42% on profits considered excessive the 21% US corporate tax rate plus a new 21% surtax, according to two people briefed on the proposal.

    Failure to understand basic economics principles should prevent Democrat persons from holding positions of influence anywhere near our tax laws.
    So a politician thinks that as high as gas prices are we should tack another 21% onto that price.....wow. That's almost as bad as the Tesla woman from last week who bragged about not caring about gas prices because she drove a Tesla....

    I kinda feel like democrats are slowly crawling towards that "let them eat cake" stage of things..
    They should hope for that any cake comments on their part doesn't lead to their last rendezvous with a Committee of Public Safety
    Werewolf
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    PackFansXL said:

    Quote:

    Democratic senator Ron Wyden, the chairman of the Finance Committee, wants a new 21 percent surtax on oil companies. Wyden somehow believes a new tax on oil companies will be good for consumers, Bloomberg reports:
    Quote:

    The proposal by Senator Ron Wyden, an Oregon Democrat who chairs the tax-writing Finance Committee, would mean oil companies face federal taxes of as much as 42% on profits considered excessive the 21% US corporate tax rate plus a new 21% surtax, according to two people briefed on the proposal.

    Failure to understand basic economics principles should prevent Democrat persons from holding positions of influence anywhere near our tax laws.
    And you think that's what this is all about? Failure to understand basic economic principles?
    PackFansXL
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    Quote:

    The Federal Reserve has raised interest rates by 75 basis points, the single largest increase in nearly thirty years as inflation soars.

    The hike to the federal funds rate the benchmark interest rate at which banks borrow and lend money to each other overnight, affecting money supply in the economy was announced Wednesday, after a meeting of the Federal Open Market Committee led by Chairman Jerome Powell. In the short-term, the Federal Reserve said that it would intend to bring the rate to a range of 1.5 percent to 1.75 percent.
    Werewolf
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    TheStorm said:

    Werewolf said:

    Now, we're just missing the long lines and select stations being open a few hours until they sell out.
    For sure. There was definitely more of a true "shortage" in 1973... just getting a personal chuckle about how upset we all were over paying $0.50+ / Gallon for gas at that time.

    In North Carolina specifically, you also had the license plates that ended with an odd number only allowed to gas up on certain days... with even numbers on the others.

    Just another example of things that most people quickly forget... remember the "Blue Laws"?
    I'd forgotten about the odd and even.
     
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