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The money supply is now crashing as Powell took drastic action to reduce inflation. Inflation has come down, but we haven’t felt any of the impact of these actions yet. Naturally, that effect is lagged until after the election. I’m thinking it might be a good play to buy puts on the S&P 500, although I’m sure that idea has already been priced into the market.
You are right, Mick. Borrowers with fixed rate mortgages will benefit from inflation. But the vast majority of mortgages (over 90%) are fixed. Certainly, inflation causes all sorts of financial hardship in other areas of peoples’ lives, but the benefit to fixed rate mortgage borrowers is unambiguous.
“The only people who benefit from inflation are governments who are in debt.”
Actually, anyone who is in debt. Homeowners who are leveraged to the hilt, if they can control their profligate impulses. Inflation will bail them out.
Her speech was devoid of serious content. Vibes, my ass. She is going to run a “blank slate” campaign and let dreamy voters decide in their own hearts that for whch they are voting. Unicorns and rainbows. And price controls.
It was Terry McAuliffe who was the first I heard the way they do post bith procedures when the abortion fails. As to the lack of civility by Trump at the black journalist convention – you have GOT to hear the mederator’s opening. F**k her!! That is why I like Trump!!
I don’t think the national polls mean much. This race (and all other presdential races for that matter) come down to each state.
Biden’s 7mm vote advantage in the popular vote came from 2 states. So he had nearly a 10% win nationally but barely won.
You can always find material that reinforces what you already believe. I read the stuff that says Trump is hundreds of times sharper than Joe.
[quote quote=8448]Looks like I was right. 2000 Mules publisher pulled the film from all platforms. https://www.npr.org/2024/05/31/g-s1-2298/publisher-of-2000-mules-election-conspiracy-theory-film-issues-apology Add it to the list of all the other bullshit conspiracies peddled by the right, as well as the election audits that found nothing meaningful, and the recounts that confirmed Biden’s victory. The damage has been done, though. So the retraction and apology will have about as much impact as a fart in the wind
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And your source was NPR? Didn’t Democracy Now! have anything nasty enough? You have a pretty narrow filter on your info there, BT!
I think they are withholding the announcement of Joe’s withdrawal from the race until after the debate at the end of June. If he debates. Either way, some time later and before their convention, biden drops out and they go thru their managed convention and Obama will select their candidate. Dems love excitement and drama. Obama will pick a dark horse (not Gavin) and the left will sweep that candidate into office on a wave of glory. Such glory will fade when, should they win the presidency, China will invade Taiwan and Russian troops will march into Kiev.
In the last 15 or 20 years we have learned that conspiracy theories are increasingly accurate. We used to call it investigative journalism.
Two of the big issues contributing to the collapse of our culture are the decimation of our education system and the erosion of our society’s connection to a spiritual identity.
You ask how a community could vote the way Portland residents have, and ultimately the value systems have eroded because we have failed to model them and younger generations have not embraced them.
I expected that was so, but I need very little provocation to launch on Krugman. No, Mick, I’ve been reading your commentary for a bunch of years and, if it was not meant as irony, I would have had to wonder, “Where is Mick and what have they done w/ him?”.
😂
It is true that Friedman attributed greater culpability for the economic collapse to incomprehensible mismanagement by the Fed. It is untrue that he perceived little role for this atrocious legislation in the damage that was caused. I recommend Amity Shlaes “The Forgotten Man”
And Mick, I think you should be punished severely for even mentioning Krugman’s name in proximity to that of Friedman. Krugman is an unprincipled hack and has succeeded in damaging any credibility the field of economics possesses.
I absolutely agree w/ you, Beeg Dawg. They will find some way to placate “Mamala” and Joe will be very credible in claiming health issues. Open convention should be pretty entertaining.
[quote quote=8305]The modern Democratic Party, and liberalism itself, is to a substantial extent a bastion of college-educated, upper-middle-class professionals, people for whom Biden-era inflation is unpleasant but rarely calamitous. Poor, working-class, and lower-middle-class people experience a different reality. They carry the searing memories of the Great Recession and its foreclosure crisis, when millions of American households lost their home. A large number of these Americans worked in person during the dolorous early days of the pandemic, and saw its toll up close. And since 2019, they’ve weathered 20 percent inflation and now rising interest rates—which means they’ve lost more than a fifth of their purchasing power. Tell these Americans that the economy is humming, that median wage growth has nudged ahead of the core inflation rate, and that everything’s grand, and you’re likely to see a roll of the eyes. The Democratic party has five major support groups, four of which are not tethered in the real world faced by Main Street America, all of which support the Democratic Party at 90% or more of their group:
- Hollyweird
- Wall Street
- Academia
- Technologists
- Black people
[/quote]According to several recent polls, Black people are no longer in the group of 90%+, at least with regard to Joe Biden himself. I’ve seen results showing anywhere from 22% up to 35% of the Black vote going to Trump
