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Author Topic: So much for inflation being "transitory"  (Read 14747 times)

rocky_warrior

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Re: So much for inflation being "transitory"
« Reply #175 on: September 24, 2022, 11:49:24 AM »
I'm guessing you did not think the "great recession" was anything to be overly concerned over at the time, fair assumption?

I was a bit concerned then.

https://www.muscoop.com/index.php?topic=10050.msg89094#msg89094
« Last Edit: September 24, 2022, 12:05:53 PM by rocky_warrior »

Goose

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Re: So much for inflation being "transitory"
« Reply #176 on: September 24, 2022, 12:27:08 PM »
Rocky

I wish the stock market was the only thing that mattered in an economic downturn. I believe close to over nine million people lost their jobs and over three million lost their homes. My numbers could be slightly off, but I believe unemployment topped at near 10%.

It is somewhat ironic that many on here talk about white privilege or entitlement or boomers being selfish and you highlight a quote about the stock market from almost a decade and half ago. I was far more concerned about the unemployed, under employed and people struggling to keep their homes than I was the closing number on the S&P during the “Great Recession”.


JWags85

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Re: So much for inflation being "transitory"
« Reply #177 on: September 24, 2022, 01:26:38 PM »
Regardless of who is in charge or who instituted near term policies, I really hate viewing the economy or stock market as "its fine, it will comeback, it always does" when facing challenges or headwinds.  It seems borderline Pollyanna-ish to me.

Nobody reasonable is saying "This is the end of the US economy" or "1930s here we come".  But when you look at red flags that are causing the impending recession, that people were calling out in real time as an issue going back awhile, as "oh things happen, we'll survive", its totally not seeing the forest for the trees.  I see people/business that get totally mangled in recessions, outside of their own control or ability to hedge against it, that would be beyond pissed by excusing it away as simply the natural course of things.

The Fed was playing fast and loose in a way that concerned A LOT of people going back to 2020 and now are in danger of potentially oversteering and over correcting.  And the response is "well this is FUD, the US economy comes back, it always does.  We will learn from this"...which ironically doesn't feel like learning from mistakes by glossing over the mistakes and the consequences.

Goose

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Re: So much for inflation being "transitory"
« Reply #178 on: September 24, 2022, 01:35:33 PM »
Wags

Great post and spot on.

rocky_warrior

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Re: So much for inflation being "transitory"
« Reply #179 on: September 24, 2022, 03:49:25 PM »
I wish the stock market was the only thing that mattered in an economic downturn. I believe close to over nine million people lost their jobs and over three million lost their homes. My numbers could be slightly off, but I believe unemployment topped at near 10%.

It is somewhat ironic that many on here talk about white privilege or entitlement or boomers being selfish and you highlight a quote about the stock market from almost a decade and half ago. I was far more concerned about the unemployed, under employed and people struggling to keep their homes than I was the closing number on the S&P during the “Great Recession”.

That's very humanitarian of you.   But you merely asked if I was concerned, and I found an old post to show that my position then was similar to yours now (thought the market was going to tank and held mostly cash).

And the response is "well this is FUD, the US economy comes back, it always does. 

I'll respond to this since I threw out the FUD remark.  I don't think it's FUD to wonder if things are gonna get a bit rougher than they have been for a while.  But I literally saw a headline today (which pretty much echoes some of the FUD here) "How to survive the worst bear market of all time" - lol.  That's FUD.  It also isn't Pollyanna to think after the dip - that the US economy will rebound - because it will!  Nobody knows exactly how this will all play out, but there's no proof yet that it's going to be the worse ever recession, or even that bad.

muwarrior69

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Re: So much for inflation being "transitory"
« Reply #180 on: September 24, 2022, 03:55:53 PM »
I am 75 and probably will not see it in my lifetime, but the one thing that concerns me is what happens when "the global economy" no longer sees the dollar as the fiat currency that it is today.

It is no secret that Brazil, Russia, India, China and South Africa want to move away from the dollar. Is it only a matter of time?

tower912

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Re: So much for inflation being "transitory"
« Reply #181 on: September 24, 2022, 04:11:47 PM »
Is FUD akin to COLE or 'mope'?
Luke 6:45   ...A good man produces goodness from the good in his heart; an evil man produces evil out of his store of evil.   Each man speaks from his heart's abundance...

It is better to be fearless and cheerful than cheerless and fearful.

Merit Matters

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Re: So much for inflation being "transitory"
« Reply #182 on: September 24, 2022, 05:29:05 PM »
Rocky

I wish the stock market was the only thing that mattered in an economic downturn. I believe close to over nine million people lost their jobs and over three million lost their homes. My numbers could be slightly off, but I believe unemployment topped at near 10%.

It is somewhat ironic that many on here talk about white privilege or entitlement or boomers being selfish and you highlight a quote about the stock market from almost a decade and half ago. I was far more concerned about the unemployed, under employed and people struggling to keep their homes than I was the closing number on the S&P during the “Great Recession”.
Spot on Mr. Goose. Common folk talk about inflation and parrot the mainstream talking points. People who understand the economy talk about stagflation. They are not the same type of people.
All Lives Matter

rocket surgeon

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Re: So much for inflation being "transitory"
« Reply #183 on: September 24, 2022, 06:20:07 PM »
sad thing is, this was all too predictable and could have been avoided if all these "experts" we have in charge would get out of the way of themselves.   they were told over a year ago by some experts, but they were ignored for all the wrong reasons.  not one damn thing has gone right over the past 22 months.  when you try to cover one mistake with another, this is what we get.  we have the know-how to get things right if we really want to, but sometimes one has to wonder...was this purposeful??

   if it was, more than shame on them...they are ruining lots of people's lives
don't...don't don't don't don't

Goose

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Re: So much for inflation being "transitory"
« Reply #184 on: September 24, 2022, 06:20:56 PM »
Rocky

Of course there is no certainty in predicting the future of the economy, but you are certain that things will recover. I believe that however this downturn develops that better days will eventually materialize, but I would not be arrogant enough to say that that bad things might not be coming our way.

I am far from an expert on the Great Depression, but I did have the privilege of having my Dad who was born in 1921 and lived during that time in history. There have been many warning signs that a serious downturn could occur and I believe we have dodged the bullet twice in the past fifteen years.

Again, I have little interest in how the stock market plays out, aside from worrying about loved ones that are concerned. My focus is on being positive, being prepared and not arrogantly ignoring what the future may look like.

My noting I was out of the market was a sidebar to what my beliefs are and wish I had not stated it. 100% of my thoughts and efforts are focused on growing a business in potentially rough sledding ahead.

It is funny but in the Great Recession I was buying gold and silver and I learned exactly how foolish of a game plan that was for long term success. Today, I am working for free and using that money to invest in our business.

I can only speak for myself, but I would rather be over prepared than caught with my pants down. I am not a guy that wants to have great sacrifices in my life, but this time I think it wise to be ahead of the curve.




Uncle Rico

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Re: So much for inflation being "transitory"
« Reply #185 on: September 24, 2022, 06:24:48 PM »
sad thing is, this was all too predictable and could have been avoided if all these "experts" we have in charge would get out of the way of themselves.   they were told over a year ago by some experts, but they were ignored for all the wrong reasons.  not one damn thing has gone right over the past 22 months.  when you try to cover one mistake with another, this is what we get.  we have the know-how to get things right if we really want to, but sometimes one has to wonder...was this purposeful??

   if it was, more than shame on them...they are ruining lots of people's lives

6 of 10 for predicting the all too predictable on Scoop. 
“This is bar none atrocious.  Mitchell cannot shoot either.  What a pile of dung”

rocky_warrior

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Re: So much for inflation being "transitory"
« Reply #186 on: September 24, 2022, 06:43:23 PM »
My focus is on being positive, being prepared and not arrogantly ignoring what the future may look like.
[snip]

but I would rather be over prepared than caught with my pants down. I am not a guy that wants to have great sacrifices in my life, but this time I think it wise to be ahead of the curve.

I'm aware you didn't directly call me arrogant, but my comments are only an acknowledgement that I cannot affect the economy much. I can only take care of myself, and those important to me. And in that case, I'm not worried.

As to over prepared, I know we don't know much about each other. But I can assure you I'm always over prepared.  Those that can be, should always be over prepared for the unexpected, regardless of market or social or political ideologies.

Goose

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Re: So much for inflation being "transitory"
« Reply #187 on: September 24, 2022, 07:08:47 PM »
Rocky

No, I was not stating you were arrogant and my comment was a general statement on how I feel many look at the economy.

I applaud you for being over prepared because I think many are woefully ill prepared for everyday emergencies, let alone an economic downturn. That being said, I am preparing for something more than a mild recession and one that could rival the Great Recession or worse.


rocky_warrior

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Re: So much for inflation being "transitory"
« Reply #188 on: September 24, 2022, 11:49:06 PM »
I applaud you for being over prepared because I think many are woefully ill prepared for everyday emergencies, let alone an economic downturn. That being said, I am preparing for something more than a mild recession and one that could rival the Great Recession or worse.

No need to applaud goose. You underestimate the US population. If this goes over 15 years I'm worried!

rocket surgeon

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Re: So much for inflation being "transitory"
« Reply #189 on: September 25, 2022, 12:13:15 AM »
6 of 10 for predicting the all too predictable on Scoop.

no, the all too predictable is you seeming to have the need to respond in some stupid way to every one of my posts with your dumb rating thing.  you still wet the bed?
don't...don't don't don't don't

rocky_warrior

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Re: So much for inflation being "transitory"
« Reply #190 on: September 25, 2022, 12:32:51 AM »
no, the all too predictable is you seeming to have the need to respond in some stupid way to every one of my posts with your dumb rating thing.  you still wet the bed?

You mad bro?  Rico ain't dumb.

The Sultan of Semantics

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Re: So much for inflation being "transitory"
« Reply #191 on: September 25, 2022, 07:12:47 AM »
sad thing is, this was all too predictable and could have been avoided if all these "experts" we have in charge would get out of the way of themselves.   they were told over a year ago by some experts, but they were ignored for all the wrong reasons.  not one damn thing has gone right over the past 22 months.  when you try to cover one mistake with another, this is what we get.  we have the know-how to get things right if we really want to, but sometimes one has to wonder...was this purposeful??

   if it was, more than shame on them...they are ruining lots of people's lives


Not one thing has gone right the last 22 months?  We have about as many people working, at a similar unemployment rate, as before the pandemic. 

And what would be "purposeful?" Inflation? Why?
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TSmith34, Inc.

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Re: So much for inflation being "transitory"
« Reply #192 on: September 25, 2022, 07:41:09 AM »

Not one thing has gone right the last 22 months?  We have about as many people working, at a similar unemployment rate, as before the pandemic. 

And what would be "purposeful?" Inflation? Why?
It's just the latest example of Qroqqet vomiting up whatever Faux News' relentlessly hammered alternative reality happens to be.

In their world, there is no infrastructure law, there is no CHIPS Act, there is no American Rescue Plan, no new gun legislation, no Inflation Reduction Act, no PACT burn pits act, no discharged student loans, and no reduction in Medicare drug costs. In their world, there isn't 3.5% unemployment, there hasn't been almost 10 million jobs created, there has been no rebuilding of NATO and Western alliances, al-Zawahiri isn't dead, and Ukraine winning the war against Ukraine thanks to our intervention is actually a bad thing.

So if you ignore all that, then indeed nothing has gone right and everything is terrible. That's the messaging he and millions like him consume non-stop. Because Hunter Biden's laptop and scary brown people.
If you think for one second that I am comparing the USA to China you have bumped your hard.

MU Fan in Connecticut

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Re: So much for inflation being "transitory"
« Reply #193 on: September 25, 2022, 08:09:53 AM »
It's just the latest example of Qroqqet vomiting up whatever Faux News' relentlessly hammered alternative reality happens to be.

In their world, there is no infrastructure law, there is no CHIPS Act, there is no American Rescue Plan, no new gun legislation, no Inflation Reduction Act, no PACT burn pits act, no discharged student loans, and no reduction in Medicare drug costs. In their world, there isn't 3.5% unemployment, there hasn't been almost 10 million jobs created, there has been no rebuilding of NATO and Western alliances, al-Zawahiri isn't dead, and Ukraine winning the war against Ukraine thanks to our intervention is actually a bad thing.

So if you ignore all that, then indeed nothing has gone right and everything is terrible. That's the messaging he and millions like him consume non-stop. Because Hunter Biden's laptop and scary brown people.

Amen.

Uncle Rico

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Re: So much for inflation being "transitory"
« Reply #194 on: September 25, 2022, 08:16:36 AM »
no, the all too predictable is you seeming to have the need to respond in some stupid way to every one of my posts with your dumb rating thing.  you still wet the bed?

4 out of 10.  Which one of these is you?

https://twitter.com/dburghart/status/1573387430941831168?s=46&t=fvjK2MfJybEIwwhBegoMaA
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TSmith34, Inc.

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If you think for one second that I am comparing the USA to China you have bumped your hard.

MU82

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Re: So much for inflation being "transitory"
« Reply #196 on: September 25, 2022, 08:51:11 AM »
Regardless of who is in charge or who instituted near term policies, I really hate viewing the economy or stock market as "its fine, it will comeback, it always does" when facing challenges or headwinds.  It seems borderline Pollyanna-ish to me.

Nobody reasonable is saying "This is the end of the US economy" or "1930s here we come".  But when you look at red flags that are causing the impending recession, that people were calling out in real time as an issue going back awhile, as "oh things happen, we'll survive", its totally not seeing the forest for the trees.  I see people/business that get totally mangled in recessions, outside of their own control or ability to hedge against it, that would be beyond pissed by excusing it away as simply the natural course of things.

The Fed was playing fast and loose in a way that concerned A LOT of people going back to 2020 and now are in danger of potentially oversteering and over correcting.  And the response is "well this is FUD, the US economy comes back, it always does.  We will learn from this"...which ironically doesn't feel like learning from mistakes by glossing over the mistakes and the consequences.

You're right, nobody reasonable is saying, "This is the end of the US economy." Also, nobody reasonable is saying, "Everything's wonderful; absolutely nothing to see here."

Because we know through history and common sense that it will be somewhere between those two extremes.

There are significant challenges now that have been discussed ad nauseum already. The Fed's handling hasn't been great. There are things that could have been done better or differently, and I'm not talking about only over the last 2 or 6 years. But looking forward, I am optimistic that the economy will recover; I'm also optimistic that the stock market will hit new highs in a year or 2 or 4.

Nevertheless, my family is prepared for an extended down period, should that be the case ... because, as rocky said, being "over-prepared" is just smart. I hate that there are those who will suffer because they don't have the means to over-prepare; for those of us who don't have a say on policy -- which I think is all of us -- that's where volunteering and charity and being good citizens come in.

I happen to think that viewpoint is not "borderline Pollyanna-ish," but others are free to disagree.
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MU Fan in Connecticut

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Re: So much for inflation being "transitory"
« Reply #197 on: September 25, 2022, 03:56:01 PM »
Wharton professor Jeremy Siegel says Jerome Powell is making one of the biggest policy mistakes in the Fed's 110-year history, and it could lead to a major recession
Matthew Fox Sep 23, 2022, 3:18 PM

https://markets.businessinsider.com/news/stocks/jeremy-siegel-fed-making-same-mistake-interest-rates-inflation-recession-2022-9?amp

TSmith34, Inc.

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Re: So much for inflation being "transitory"
« Reply #198 on: September 25, 2022, 04:26:24 PM »
I agree with his take re both 20/21 and now
If you think for one second that I am comparing the USA to China you have bumped your hard.

rocket surgeon

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Re: So much for inflation being "transitory"
« Reply #199 on: September 25, 2022, 04:47:20 PM »
It's just the latest example of Qroqqet vomiting up whatever Faux News' relentlessly hammered alternative reality happens to be.

In their world, there is no infrastructure law, there is no CHIPS Act, there is no American Rescue Plan, no new gun legislation, no Inflation Reduction Act, no PACT burn pits act, no discharged student loans, and no reduction in Medicare drug costs. In their world, there isn't 3.5% unemployment, there hasn't been almost 10 million jobs created, there has been no rebuilding of NATO and Western alliances, al-Zawahiri isn't dead, and Ukraine winning the war against Ukraine thanks to our intervention is actually a bad thing.

So if you ignore all that, then indeed nothing has gone right and everything is terrible. That's the messaging he and millions like him consume non-stop. Because Hunter Biden's laptop and scary brown people.


  sounds kinda political to me, ey rock?  and racist-classic.  so imbecilic to bring either of these into conversation, but you got your peeps all mindlessly nodding in agreement-good job.  turn this around and you guys would be bleeding thru your eye balls.  the "q" thing is cute too and political

  people have lost over $4k over the last 22 mos. year over year.  their hourly wages/salaries are not keeping up with inflation.  for those of you in rio linda, that means losing money.  forces them to put things back on credit cards at interest rates out of this world. 

if you believe the 10 million jobs thingy, go do a real check.  even the fact checkers which lean heavily toward your team have trouble clarifying that whopper, but fox news is the real propagandist?  you are sadly mistaken.

btw, that silly laptop has/had serious national security implications not to mention some big time honesty implications from the "big guy", some really bad porn and how(NOT TO) wean oneself off drugs...but thank you for asking
   
don't...don't don't don't don't