Sen Manchin raises alarms on inflation - inflation to the American people is not "transitory"

smallfil said:
We have enough shale oil to last the US 100 years. The fact is we export some of our US oil because of oversupply. Rising oil prices are the result of bad economic policies of Joe Biden and the Democrats. Inflation we are experiencing is a result of supply chain issues created by the Biden administration incompetence as well as doling endless supply of stimulus monies for those with children as if they are the only Americans who need help? The reconciliation bill is nothing more than a $1.75 trillion giveaway to special interests and more government handouts. If inflation is bad now, it will only get worst if that reconciliation bill were to become law. It is very bad policy all around and I will support Senator Joe Manchin rejecting that reconciliation bill and voting no.
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Nice job explaining the truth. Even a Harvard Economist could understand it! Probably wouldn't agree though.:mad:
 
RedSun said:
You do not seem to have fun with the bad luck...
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My luck (and maybe a tiny bit of skill) has been pretty good over the past 25 years, not sure why you would think otherwise? For me it's simply much more fun to trade when there's nothing more riding on it than the personal intellectual challenge of finding and exploiting edges and buying some more interesting experiences in life versus actually depending on it to put food on the table. Not to say that those who do it for a living are in any way wrong, just not for me personally.
 
Sig said:
My luck (and maybe a tiny bit of skill) has been pretty good over the past 25 years, not sure why you would think otherwise? For me it's simply much more fun to trade when there's nothing more riding on it than the personal intellectual challenge of finding and exploiting edges and buying some more interesting experiences in life versus actually depending on it to put food on the table. Not to say that those who do it for a living are in any way wrong, just not for me personally.
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Your bad luck is from your skills? What a joke?
 
RedSun said:
No, I did not.

You kept stalking me for no reason.
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Again, you're better than this. The point of a discussion forum is to discuss. You throw out an assertion, people ask you about it. If pointing out that removing demand doesn't typically lead to higher prices on a discussion forum about economic subjects is "stalking" in your book, then this might not be the right place for you.
 
Sig said:
Again, you're better than this. The point of a discussion forum is to discuss. You throw out an assertion, people ask you about it. If pointing out that removing demand doesn't typically lead to higher prices on a discussion forum about economic subjects is "stalking" in your book, then this might not be the right place for you.
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I already told you to move on. Yet you are not satisfied and kept getting to me....

You can certainly leave me or leave ET if you do not like what you see and what you hear.
 
RedSun said:
This is not quite right.

The "green" is politically motivated. It promotes "green" energy at the expenses of fossil energy. But the "green" energy technology is not there. So government has to provide subsidies, like $7,500 credit for an EV. Same with solar.

And all policies are against fossil energy. Energy drillers can't get enough capital. So this created supply issues.

It is the recovery of economy that is faster than the recovery of energy supply. It creates the "tightness" of energy market.
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Recovery? I have yet to see one. In any of the two things. Every thing has only gotten worse. Not better. No recovery where I live!!
 
ipatent said:
It isn't transitory for people approaching retirement or retired on a fixed income or living off of savings. These are the same people who have been getting robbed by low interest rates for over a decade now.
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Precisely why moving away from defined benefit retirement plans, which the U.S. has been doing, is going on the wrong direction. The U.S. has been moving toward self-funded, defined contribution retirement plans which have the advantage, like social security, of being highly portable, but unlike social security, self-funded plans put all the risk on the plan participant. Instead, we should replace social security with a universal, shared-risk, employer-government-participant funded, defined benefit, retirement plan with instant vesting and complete portability for everyone, with additional, private plan coverage optional. The critical advantage of such plans is that they inherently incorporate shared risk. There is very little risk of inflation taking a significant bite out of your retirement check with these types of defined benefit plans. Instead we are moving in the direction of a myriad of privately funded plans supplemented with social security. It's the right way to go for Wall Street, but the wrong way for the people.
 
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RedSun said:
[in response to SIG] I already told you to move on. Yet you are not satisfied and kept getting to me....

You can certainly leave me or leave ET if you do not like what you see and what you hear.
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Alternatively, you could pay attention to well meaning criticism and respond rationally.
 
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