Bear Pit: now the sole domicile of politics at LuLa

[Robert Roaldi]

You made my point.  Bright was against what his boss President Trump wanted to be done and which Trump accomplished by the end of 2020 without Bright - getting vaccines out to the general public.  Bright would have dragged his feet and you would be now complaining that Trump was late with the vaccines like Biden is late with the test kits.  Who knows when the vaccines would have been available if Trump allowed him to continue running BARDA?  Bright deserved to be fired.

I can't tell you how difficult it is to believe that there are still people who think that halfwit Trump did a good job. It's mind-boggling.

[digitaldog]

I can't tell you how difficult it is to believe that there are still people who think that halfwit Trump did a good job. It's mind-boggling.

As observed here, most of those people are halfwits. They actually believe,for example, "Covid is on the way out, we're left with the economic damage."
They blindly accept:
https://www.bbc.com/news/av/world-us-canada-44959340
Donald Trump: 'What you're seeing and what you're reading is not what's happening'

"On the internet you can be anything you want. It’s strange that so many people choose to be stupid".- Anonymous

[TechTalk]

Who knows how long it would have taken to get vaccines out to the general public if Congress had not overridden Trump's request of $2.5 billion with a more aggressive appropriation to fight COVID-19 of $8.3 billion in March of 2020. Of course, at that time Trump was still lying to the public about the severity of the disease because he was afraid that it would hurt his chance of being re-elected.

[Alan Klein]

17% is a substantial hit. One way to counteract it to get a goat and a few chickens. Did the pensioners get any raise in their pensions this year?

I was really annoyed by the raise.  So, I walked out without leaving a tip as I normally do.  Next time, I'll leave a tip.  But it will be less than usual probably.  17% stings.  My wife says I should buy a dozen bagels and use our cream cheese at home and save about 2/3rds.

Social Security is getting a cost-of-living increase of 5.9% next year.  Of course, the government will have to print more money to cover it raising prices even more the following year, a never-ending cycle.  Unfortunately, raises on my pension are capped at a few hundred dollars, much less than the damage inflation and higher prices cause.  Not that I'm complaining.  I'm luckier than most that I even have a pension.  Frankly, I don't know how people can quit their jobs and not work even with government handouts? 

[Peter McLennan]

Temprary and transitory effects on the economy do not cause general across-the-board price rises or for that matter lower prices in certain industries.  Causes for higher prices could include war, disease, shutdowns, strikes, monopolies, blockades, oil embargoes, etc.  Lower prices can be caused by better technology,  more discoveries, increased suppliers, better production methods, etc.  These things cause prices to fluctuate up and down all the time.  Higher costs in one area tend to reduce prices in others as there's less demand there because people are spending more in higher-priced areas.

However, what causes general price rises is when more money is available than production can absorb.  That's what makes it bad now.  Not only are we printing too much.  There's less production in goods and services to absorb the extra money.  That leaves all that extra money floating around to push up prices on everything including labor as well as goods. It bids up the prices of everything. That happens when the Fed or any central bank inflates the money supply as often happens to support deficit spending of government.

Thanks for yet another repetitious and irrelvant lesson in high school economics.

Did the price of my bagel and cream cheese go up 17% because of some monopoly?

The discussion was about meatpacking corporations dominating markets as a result of Reagan-era deregulation, not short term market fluctuations resulting from transient externalities.

Your feeble word salad attempts at deflection betray your prejudices.

[Alan Klein]

I can't tell you how difficult it is to believe that there are still people who think that halfwit Trump did a good job. It's mind-boggling.

Biden screwed up everything that Trump did that was right.  The border is a mess now with millions of illegals wadding across.  Biden left terrorists in charge of Afghanistan.   We went from oil independent to oil-dependent on foreign supplies.  We went from vaccines for most everyone to test kits for not enough. Inflation is out of control.  Prices are skyrocketing.  Taxes have to go up again to pay for everything. 

[Alan Klein]

Who knows how long it would have taken to get vaccines out to the general public if Congress had not overridden Trump's request of $2.5 billion with a more aggressive appropriation to fight COVID-19 of $8.3 billion in March of 2020. Of course, at that time Trump was still lying to the public about the severity of the disease because he was afraid that it would hurt his chance of being re-elected.

But he agreed with Congress's authorization and signed the bill to make it law.  So he learned as he went along.  The bottom line is he got the vaccines out quicker than anyone thought it could be done. 

[Alan Klein]

Thanks for yet another repetitious and irrelvant lesson in high school economics.

The discussion was about meatpacking corporations dominating markets as a result of Reagan-era deregulation, not short term market fluctuations resulting from transient externalities.

Your feeble word salad attempts at deflection betray your prejudices.

My comparison of bagels to meat shows that price increases due to inflation is what's causing most prices to rise, not monopolies or other specific causes within a particular industry.  Just like OPEC is causing oil and gasoline prices to increase because of their monopolies, the fact is inflation is also causing oil prices to increase.  It's the same with meat.  There could be more than  one component that causes changes in price. 

[Robert Roaldi]

Biden screwed up everything that Trump did that was right.  The border is a mess now with millions of illegals wadding across.  Biden left terrorists in charge of Afghanistan.   We went from oil independent to oil-dependent on foreign supplies.  We went from vaccines for most everyone to test kits for not enough. Inflation is out of control.  Prices are skyrocketing.  Taxes have to go up again to pay for everything.

Is that true, are millions of illegals actually coming across the border now that weren't before or is this conjecture on your part?

Presumably you're buying oil where it's cheapest, isn't that the free market at work?

I wonder what life in Afghanistan would be like today if colonial powers had simply stayed out of there for the last 2 centuries. I mean, it's hard to argue they did much good.

Are you really short of Covid test kits or is the media blowing up a temporary shortage because of a crazy unexpected buying binge?

It's incredible to me to read some of the things you write. You make it sound like living in the US is next to living in hell. Do you go through life venting like this all the time or is this just a forum persona you adopt for yucks?

Eat that more expensive bagel and enjoy it a little bit more mindfully. You were probably taking it for granted before.

[Alan Klein]

Is that true, are millions of illegals actually coming across the border now that weren't before or is this conjecture on your part?

Presumably you're buying oil where it's cheapest, isn't that the free market at work?

I wonder what life in Afghanistan would be like today if colonial powers had simply stayed out of there for the last 2 centuries. I mean, it's hard to argue they did much good.

Are you really short of Covid test kits or is the media blowing up a temporary shortage because of a crazy unexpected buying binge?

It's incredible to me to read some of the things you write. You make it sound like living in the US is next to living in hell. Do you go through life venting like this all the time or is this just a forum persona you adopt for yucks?

Eat that more expensive bagel and enjoy it a little bit more mindfully. You were probably taking it for granted before.

Illegals crossing the border under Biden are actually higher than shown on this earlier chart.  Regarding oil, when the government shuts down oil production or makes it harder to explore, that's not the free market.  Trump opened up exploration making domestic oil more abundant and cheaper.  It lowered our dependence on your Canadian oil which may explain why you're in favor of Biden over Trump. 

[digitaldog]

Biden screwed up everything that Trump did that was right.  The border is a mess now with millions of illegals wadding across.  Biden left terrorists in charge of Afghanistan.   We went from oil independent to oil-dependent on foreign supplies.  We went from vaccines for most everyone to test kits for not enough. Inflation is out of control.  Prices are skyrocketing.  Taxes have to go up again to pay for everything.

“A sensational lie is far more effective than a complicated truth.”- Fareed Zakaria

[Peter McLennan]

My comparison of bagels to meat shows that price increases due to inflation is what's causing most prices to rise, not monopolies or other specific causes within a particular industry.  Just like OPEC is causing oil and gasoline prices to increase because of their monopolies, the fact is inflation is also causing oil prices to increase.  It's the same with meat.  There could be more than  one component that causes changes in price.

AGAIN the discussion is not your bagels or about the current increase of beef prices, it's about the changed DISPARITY between the profits earned by producers and the profits earned by deregulated middlemen.

Please stop posting inane non-sequiturs and deflections.

[LesPalenik]

I was really annoyed by the raise.  So, I walked out without leaving a tip as I normally do.  Next time, I'll leave a tip.  But it will be less than usual probably.  17% stings.  My wife says I should buy a dozen bagels and use our cream cheese at home and save about 2/3rds.

Social Security is getting a cost-of-living increase of 5.9% next year.  Of course, the government will have to print more money to cover it raising prices even more the following year, a never-ending cycle.  Unfortunately, raises on my pension are capped at a few hundred dollars, much less than the damage inflation and higher prices cause.  Not that I'm complaining.  I'm luckier than most that I even have a pension.  Frankly, I don't know how people can quit their jobs and not work even with government handouts?

The effect of the current inflation is actually threefold.
Firstly, the real inflation is somewhere between 15% and 20%, much higher than the official rate which ignores food, rent and some other essential items.
Secondly, even if your salary or pension is raised, the raise is less than the inflation rate.
Thirdly, even if your income is increased, that puts you automatically in a higher tax bracket, so now not only you have to pay more at the cash register, but the tax man hits you also with a higher tax.

No wonder, homesteading and living in campers is increasing in America.



https://spectrumnews1.com/ky/louisville/news/2020/08/18/homesteading-gaining-popularity

[TechTalk]

the official rate which ignores food, rent and some other essential items.

You've made this claim before regarding "the official rate" and it's still false and misleading.

[TechTalk]

The bottom line is he [Trump] got the vaccines out quicker than anyone thought it could be done.

Which lab was he working at? Did the other scientists working on vaccines recognize him in his lab coat and protective goggles?

[LesPalenik]

You've made this claim before regarding "the official rate" and it's still false and misleading.

I have noticed in Ontario in last year many price increases, ranging from the food stores to automotive and medical services. In what country do you live and how do you find it there?   

[TechTalk]

I live in the United States and find it pretty nice. I've found all of the other countries that I've traveled to quite nice as well.

None of that has anything to do with your false, misleading, and repeated claim that "the official rate ignores food, rent and some other essential items". There are multiple consumer price indexes which are tracked for different purposes as I pointed out the last time you made this claim.

[Peter McLennan]

“A sensational lie is far more effective than a complicated truth.”- Fareed Zakaria

I record his show every Sunday.

[digitaldog]

I record his show every Sunday.

He is brilliant.

[LesPalenik]

I live in the United States and find it pretty nice. I've found all of the other countries that I've traveled to quite nice as well.

None of that has anything to do with your false, misleading, and repeated claim that "the official rate ignores food, rent and some other essential items". There are multiple consumer price indexes which are tracked for different purposes as I pointed out the last time you made this claim.

I should have been more specific when asking how do you find it in your country. Actually, I was curious about price increases in your area.

If the official inflation rate in your life is identical with the real inflation, that's great. Not all people are so lucky. Below is a link to an article from New York Times which explains some of the less visible aspects of the real inflation. The article was written in 2020 and updated in May 2021. Since then, both the official and real inflation rates shot up. The writer points out that the hidden inflation includes not only price increases, but also switching to lower item or service quality, different type of purchases, switching to more expensive delivery options, decrease in variety, etc. In addition, many stores were in the last two years forced to shut down, which caused less competitions and consequently the remaining stores were able to increase their prices. As an example, in the nearby plaza we had a barber shop which charged $10 for hair cut to seniors. Last year the owner closed the store and the other hairstyling shop raised their price for the same service to $17. That's 70% price increase and I've seen other similar situations like that.

The house prices in Ontario have been steadily increasing in the last few years and 2021 is no exception. The higher home prices lead inevitably to increases in rental market.

Records continue to be broken as Toronto’s housing market heats up in November 2021. Average home sold prices in Toronto broke an all-time record, reaching $1,163,323 for November 2021. That’s $7,978 higher than the average sold price in October 2021, which itself was already breaking all-time records. As average home prices in Toronto continue to climb, a slightly more worrisome picture is being painted on the supply side.
..
One year ago, the average Toronto home price was $955,615 for November 2020. This puts the current average home price in Toronto at a 21.7% year-over-year gain for November 2021.

https://wowa.ca/toronto-housing-market
 

The latest inflation statistics say prices have risen by only 1 percent over the past year. But there’s something wrong with those numbers because the pandemic has made economic life more expensive in ways the official bean counters aren’t capturing. This distortion has led other economic statistics to paint an artificially rosy picture of our current situation. The problem is that measures like real output, real wages and poverty are calculated using inflation adjustments that don’t reflect the higher cost of living during a pandemic. This might help explain why measured poverty has fallen even as lines at food banks have grown.

The Consumer Price Index tracks the cost of a fixed basket of goods, but people constantly change what they buy. This “substitution bias” usually leads inflation statistics to overstate changes in the cost of living, because people tend to substitute lower-cost alternatives when prices rise. But since the coronavirus hit, people are buying more of the essentials, like groceries, forcing their prices up. And they’re buying fewer airline tickets and less gasoline and clothing, pushing those prices down.

https://www.nytimes.com/2020/09/02/business/inflation-worse-pandemic-coronavirus.html