Inflation from Money Printing, Survival, or Greed?

[SunTrader]

While I agree with much of what has been posted lately far right is just as dangerous as far left.
And far right in last 5 years or more has had more way more power and sway so until that changes those are folks I watch and fear grabbing more.

 

[BlueWaterSailor]

Very interesting background, I had a Chinese friend a while back who said the same thing, American leftists were reminding him of the cultural revolution. Western Marxism is a neat trick isn't it? Get people living an otherwise comfortable life to hate Apple for making profit off selling i-phones even though that activity has nothing to do with them, it would be funny if it wasn't so damned dangerous. I don't have your background but I can see these folks for what they are, masters of gaslighting, telling the rest of us how greedy and awful we are all the while it is their own envy and hate driving their thoughts.

Yeah. People with HVAC, running water, indoor plumbing, refrigeration, a grocery store with meat, year round produce and fruit... saying "eat the rich". They are the richest 1% of the planet - and according to endless surveys, more willing to lose a finger than their smartphone - and they're chanting this kind of shit and marching for it.

I. Just. Can't.

Geez really though, a marxian market trader, how the hell does one's brain not explode with that one? some of these folks must not be traders

Somebody with that much self-hatred? Yep.

 

[BlueWaterSailor]

While I agree with much of what has been posted lately far right is just as dangerous as far left.
And far right in last 5 years or more has had more way more power and sway so until that changes those are folks I watch and fear grabbing more.

Fanaticism is dangerous, of course. But whataboutism isn't a good answer to someone pointing out that a problem exists.

 

[SunTrader]

Fanaticism is dangerous, of course. But whataboutism isn't a good answer to someone pointing out that a problem exists.

And that is what I am doing, pointing out the problem exists in both current extreme points of view.

 

[Covertibility]

Right, the buyer at the high transaction price should be equally to blame, how dare they price me out. Somebody above mentioned DRAM price, however bitcoin miners and traders were part of the demand spike yet they get spared the indignation - no logic except for hatred of corporations. Just came here and I am blown away that traders of all people would be so sanctimonious and left thinking about this. Really?

How were bitcoin miners and traders part of the demand spike when the DRAM price fixing I cited had happened in the early 2000's, well before crypto was invented. Do you have any real knowledge or understanding of anything ?

 

[piezoe]

I noticed it before the phony econ numbers started showing price increases. My data points were from shopping at Costco. The prices on various items that we routinely buy were going up $1 to $4. One example, the canned chicken we buy went up $2 initially and now it's up $6 a pack. The first jump was well before the Fed was saying anything about inflation. My wife was probably sick of me bitching about the prices going up.
I think similar to college tuitions going through the roof as money was made easily available via the govs student loan program, the extra money they kept throwing out added to pricing power as people weren't changing buying habits because they were getting cash. (I'll add my pet peave, calling the government student loans "student aid" gave the impression to far too many people that it was free money, now they know otherwise)
I'm not saying it wasn't necessary initially, but it probably needed to be reined in instead of expanded sooner.
Also not saying the shut down and restart to the supply system wasn't a major factor also, but as it came back online prices have just kept going up.
The worst part is the people who the money was supposed to help the most are getting creamed by the inflation, and will get creamed again as the economy collapses under the direction of the Fed.

Nice observation. Just one minor correction:

replace: The worst part is the people who the money was supposed to help the most are getting creamed by the inflation, and will get creamed again as the economy collapses under the direction of the Fed.

with: The worst part is the people who the covid money rescued when their jobs were lost are likely to get creamed by the inflation, and will get creamed again as the economy collapses under the direction of the Fed.
​

Imagine what would have happened if unemployment had been allowed to run out on those millions who were sent home because of the pandemic and all the business owners who otherwise would have gone under had they not gotten help from the Federal government. Imagine the subsequent consequential carnage that would have occurred. The pandemic money compensated for the decrease in money velocity during the pandemic. For the primary causes of the current inflation, however, we must look elsewhere.

The U.S. has the lowest inflation among developed countries right now, in part thanks to the Dollar being the reserve currency. What does that tell you about the origin of the current global inflation? Why are many other countries experiencing higher inflation than the U.S. Is the amount of inflation related to dependency of a country on imports, oil, gas and other commodities? What do supply shocks do to the cost of these imports?

The fed is dead set on putting people out of work to bring inflation under control. Of course the fed doesn't put it in those terms. Nevertheless the coming hard recession is going to hurt plenty. The 1%, however, will hardly notice a thing other than the drop in the worth of their bond portfolios. (What am I saying!, if they are in the 1%, they are well hedged.)

 

[SunTrader]

.... The 1%, however, will hardly notice a thing other than the drop in the worth of their bond portfolios. (What am I saying!, if they are in the 1%, they are well hedged.)

The FED is noticing the same thing:-

(The Daily Upside)

Fed losses
The Federal Reserve is among central banks that are now sitting on paper losses on their massive bond holdings, which were accumulated as part of their rescue efforts in recent years. The US Treasury will see a “stunning swing,” going from receiving about $100 billion last year from the Fed to a potential annual loss rate of $80 billion by year-end, according to Amherst Pierpont Securities LLC.

 

[NCC1701]

How were bitcoin miners and traders part of the demand spike when the DRAM price fixing I cited had happened in the early 2000's, well before crypto was invented. Do you have any real knowledge or understanding of anything ?

Attempts at price hikes can only occur in the right environment. OPEC can hardly raise prices if the US floods the market for example. It was well known to all, except you apparently, that bitcoin miners were driving up processor prices pre-covid. And you are calling me out for not knowing anything? right on

How Bitcoin Mining Is Driving Up The Cost Of PC Graphics Cards
By AJ Dellinger
01/30/18 AT 12:27 PM
How Bitcoin Mining Is Driving Up The Cost Of PC Graphics Cards (ibtimes.com)



Graphics card DRAM pricing expected to stop increasing Q3 2021
The value of many cryptocurrencies is far below their all-time highs, which has caused many changes to the graphics DRAM market. Whether it be to increasing levels of regulations on cryptocurrencies or Ethereum's current value, the demand for new graphics cards from cryptocurrency miners had been significantly lowered, so much so that it's starting to impact graphics DRAM pricing.

Graphics card DRAM pricing expected to stop increasing during Q3 2021 | OC3D News (overclock3d.net)

 

[Sprout]

Ah, verbiage straight from the Marxist Playbook for Fifth Column Marchers, 1962 edition. That will surely convey useful, truthful, and accurate information...

BTW, you'll want to review the definitions section of that manual: "Truth To Power" only applies when people NOT in power put themselves in danger - life, sacred honor, all that - by exposing secrets about those IN power over them. This in no way applies to a scummy politician pretending to be shocked by publicly available information in front of other scummy politicians in order to get some degree of leverage over them for deal-making. It's as boring as a hooker's thirtieth trick on payday; there's absolutely nothing "epic" about it.

Not familiar with the term "fifth column" - interesting definition, seems to sum up the MAGA cult.

Speaking of review to your fictional reference "Marxist Playbook for Fifth Column Marchers, 1962 edition"; as per dictionary.com, "The specific phrase speak truth to power is credited to Bayard Rustin in 1942. Rustin was a Black Quaker and a leader in the Civil Rights Movement, advocating nonviolent methods in his fight for social justice."

While being salty is certainly your prerogative, your cynical strawman summarization is off-the-mark wrt Katie Porter.

It's clear that you do not understand the context of her work.

 

[NCC1701]

How were bitcoin miners and traders part of the demand spike when the DRAM price fixing I cited had happened in the early 2000's, well before crypto was invented. Do you have any real knowledge or understanding of anything ?

whoops yes! I meant the other 2018 'scandal'

anyway, it is still nothing, just as it is when Apple has an iPhone monopoly and OPEC tries to raise prices. At the end of the day they end up hurting themselves if they raise it way above a demand equilibrium, as would happen to any trader trying to manipulate like that