Krugminator2
Member

Condo prices in Puerto Rico have gone up like a short squeeze the last few months. Probably a combination of reasons but hard to not think the flood of liquidity isn't a big enabler.

Democrats and Republicans have built their entire political strategies on bribing voters. Republicans use tax cuts but no spending cuts. Democrats cater to unions, trial lawyers, letting people default on student loans, affirmative action, reparations, etc. This whole replacement thing Tucker Carlson is in is not controversial to anyone with a functioning brain. Democrats were anti-immigrant for 70 years. The reason was unions were against immigration because they believe more workers drive down wages. Now that unions have less power, the Democrats made a bet on changing demographics through Hispanic immigration. Democrats love to cite the Preamble of the Constitution about general welfare. What's amazing about that is the guy who wrote it was Gouverneur Morris and he HATED democracy and welfare. He didn't think the Constitution went far enough in only letting property owners vote. He thought a person who worked for wages and who wasn't a business owner shouldn't be allowed to vote.

That's right. P. Diddy isn't stupid. It is similar to the way Democrats frame the Georgia law as racist and anti-democracy. Costs them nothing. The disgrace is the media and corporations who automatically accept the premise

P. Diddy is really really stupid. It makes no sense that 15% of marketing dollars should go to black owned media outlets. Black owned media outlets are probably .1% of the total media market. Lighting money on fire by advertising with companies that no one reads seems like a really bad strategy. I have never in my life heard of Revolt. And the fact that P. Diddy is shitting on an advertisers is something else.

John Oliver is horrible and dishonest and this piece is no different with his smears against Cruz and Mick Mulvaney. That said.... Debt and deficits can influence inflation, but ultimately monetary policy entirely determines inflation. Japan had deflation running the biggest deficits in world history because money was extremely tight. The problem with government spending is it consumes resources and changes incentives and slows long term growth. But the current big spending probably isn't going to end in calamity. It is far more likely to end in a period of perpetually slow growth with high interest rates and high taxes.

No they aren't. No one is poor in the United States except by choice or mental illness. The horn of plenty that relative free enterprise has created in the United States has allowed even the worst off to live quite well. The Poor in the US Are Richer than the Middle Class in Much of Europe https://mises.org/wire/poor-us-are-richer-middle-class-much-europe America's Real Poverty Rate Is Around And About Zero https://www.forbes.com/sites/timworstall/2015/09/17/americas-real-poverty-rate-is-around-and-about-zero/?sh=37ab58605c6a

Literally zero economists including the most hard core Rothtardians would agree with your analysis about wealth or the minimum wage. Not one. On the entire planet. There isn't even a point in trying to go further into your analysis. The median wage wouldn't be the equivalent of $450k. When you get a ridiculous number like that you should assume what you did was wrong. Here is the reality as has been shown numerous times. CPI overstates inflation over the long run.

Michael Bloomberg provided an update on who is behind the wave of Asian hate crimes. "Ninety-five percent of your murders and murderers and victims fit one M.O.,” Bloomberg told the Aspen Institute audience. “You can just take the description, Xerox it and pass it out to all the cops: They are male, minorities, 16 to 25. That’s true in New York. It’s true in virtually every city.”

The following things are not racist: -Requiring an ID to get vaccinated -Requiring an ID to pick up tickets at the window at a baseball game -Requiring ID to buy a beer at a baseball game -Mandating a vaccine passport for the essentials of life Things that are racist: -Requiring an ID to vote -Closing polls at 5 pm on early voting days

Yeah. It's insanity. The country has 340 million people and the focus is on the two people killed. Or the couple of unarmed black people killed by cops. Whereas drug illegality probably kills at least ten thousand from violence and unsafe drugs. Tens of thousands are likely killed from the slow FDA process that keeps life saving drugs off the market for years and limits access because of the high cost to get a drug approved.

Every shithole country in world history has gone down the AOC road. Her ideas are an actual existential threat. Once a country starts failing it can take decades if ever to recover. But instead the focus is on the epidemic of about a dozen Asians killed by white people every year.

In fairness to Goldman Sachs, they apparently kept the guy on a tighter leash than the other banks. They were the first ones out and reportedly shorted the market with puts so they made money on all of this. But the other places obviously managed risk horribly As far as the insider trading stuff, that means nothing to me. It is a crime like jaywalking is a crime. Insider trading isn't a real crime. I also have no problem with lending money to people who want to gamble recklessly. People should be able to make their own choices. I do have a problem like with these over the counter trades that cause systemic risk because no one has any idea of the size of the bets. I also think regulating leverage and capital requirements are one of the only regulations that make sense because of the systemic risk of one of these places failing.

My understanding is the banks are all much better capitalized than 2008 but who knows. Viacom is trading like a Pink Sheet stock. I stepped in front of a freight train on Friday and am sitting on a monster loss that I pared back today. It is amazing these haven't had a real bounce. Zerohedge (not a reliable source) seems to think Credit Suisse and Nomura still have more to sell. This really has been relentless selling. 1376968006455164934

Wow. That's the first time I've seen that. Great video. I am still trying to figure out why he thinks wages should rise faster than his definition of inflation and productivity. The population is 50% larger today than in 1979.

Nothing about the original post is correct. The minimum wage stat is wrong. "The percentage of hourly paid workers earning the prevailing federal minimum wage or less declined from 2.7 percent in 2016 to 2.3 percent in 2017" M2 isn't the measure of inflation. Even if M2 perfectly correlated increased inflation, they wouldn't grow at the same pace. You have productivity growth and population growth. So M2 will always be a bigger number than inflation assuming an inflationary environment like the last 70 years. Incomes and net worths will never be equitable. Has little to nothing to do with money printing or who gets it first. People who save and invest compound money over time and end up with outlier dollar amounts. Most people don't delay gratification and save. As I have posted numerous times with links the median income earner is far better off since 1980. Inflation is overstated not understated.

The opinion writers at USA Today are disgusting and insane. Hank Haney (Tiger Woods' old coach) said that he couldn't name 5 players on the LPGA Tour when asked about his LPGA US Open prediction. When pressed he joked someone named Lee would win. And funny enough Jeongeun Lee6 won. (There have been six women with the same name on the tour.) Because of his innocent joke he has been banished from everything. Here is the woke piece that kicked off his expulsion. https://www.usatoday.com/story/sports/christinebrennan/2019/05/29/hank-haney-sexist-racist-remarks-should-be-fired/1275733001/

Saw who wrote the original post. Assumed he would post some hate America Communists. Didn't disappoint. For all of you raping capitalists here is some reeducation for you. 1373082362712526852 1373081922646155265 1371563750117896192 \

I was going to say this but opted not to. But I am glad you said it. The two least distortionary taxes are property taxes and these kinds of consumption taxes. I don't support it because this will be on top of making the world's most progressive income tax system even more progressive, the wealth tax, and increased inheritance corporate and capital gains taxes. But at least in theory this makes sense.

You kind of got me. I truthfully don't think the Derbyshire article is even in the same category as The Nation article.

Seems like this Nation article is a far more bigoted version of "The Talk". https://www.takimag.com/article/the_talk_nonblack_version_john_derbyshire/ Of course Derybyshire got fired from everything and this lunatic at the Nation is being praised. And there is one big difference. Blacks commit crimes against whites at nine times the rate as the reverse so there is at least a kernel of truth in Derbyshire's article, though still not something he should publish.

I watch all of these that you post. It is kind of remarkable that the whole basis for his argument of whether there will be inflation is unemployment. I am not an economist but pretty sure that was disproven in the 70s. There is no tradeoff between inflation and unemployment. Under Obama unemployment dropped and no inflation so you had headlines like this https://www.economist.com/schools-brief/2020/08/22/why-does-low-unemployment-no-longer-lift-inflation The only factor that matters is money supply growth in the hands of the public. You had standard to slightly slow M2 growth between 2009-2020. You had the largest growth in M2 since the data first started getting collected in 2020. When people have money in their hands they will spend it and bid up prices. Simple as that. The savings rate is 13%. https://www.statista.com/statistics/246268/personal-savings-rate-in-the-united-states-by-month/. History has shown that won't last.

I just looked up the demographics of Evanston where Northwestern is located. Pretty amazing Trump got 7% of the vote. The city elected their first Dem mayor in 1993. The suburbs are turning Dem at an alarming rate. The Congressional district I am last elected a Dem in the 40s before having two straight Dem wins. Guilty white liberals are the worst.

It will be interesting to see how commodities play out. If you have 3 or 4% productivity growth and M2 has increased by 30% over a 12-14 month period, it would seem that would be good for commodities. Worth considering even at the start of the year. https://www.washingtonpost.com/business/energy/how-palladium-became-a-really-really-precious-metal/2021/01/14/6e2d775a-568b-11eb-acc5-92d2819a1ccb_story.html?amp;amp https://www.reuters.com/article/palladium-platinum-johnson-matthey/update-2-platinum-palladium-and-rhodium-in-short-supply-johnson-matthey-idUSL1N2KG11I Then you had the largest palladium mines in the world get flooded https://www.bloomberg.com/news/articles/2021-02-24/norilsk-nickel-partially-suspends-two-big-mines-on-water-inflow https://www.reuters.com/article/russia-norilsknickel/russias-nornickel-can-restore-water-hit-mines-but-unclear-when-experts-idUSL5N2L01E4

https://www.facebook.com/elnuevodia/posts/10158705766378751 According to Puerto Rico's main newspaper. Tourism is racist and sexist colonial violence .

https://www.cbo.gov/system/files/2019-12/55941-CBO-Household-Income.pdf "No. According to the Congressional Budget Office, prior to the pandemic, middle-class incomes had grown 60 percent more than inflation since 1980. The income of the poorest 20 percent had doubled. Those increases don’t include the full value of innovations such as cell phones, cleaner air, more-effective cancer treatments, fewer automobile accidents, and less crime."

My opinions are often/usually wrong. The market is always right. Almost never makes sense to have a losing position for more than a day or two. Never makes sense to own something like gold under than 200 day moving average for more than a short term trade.

I think the Fed will be reluctant to tighten if inflation runs at even 4%. I think they will call it make up inflation for running below 2% for so long. M2 grew at 26% last year. M4 which apparently is a better metric grew at 28%. M2 is on pace to grow at well into double digits this year. So far markets aren't sending a clear inflation signal. Been wrong on soybeans, oats, and silver. I did just buy some palladium tonight. Maybe I am stubborn but really think inflation is going to be a thing and I think the Fed will be slow to do anything about it.

I didn't ignore it. My response involved paint chips and glue sniffing and I thought I should tone it down so I deleted it. The onus isn't on me to prove there wasn't election fraud. That's not how that works

That changes everything. No longer are the Confederate Flag and the Catholic church symbols of immoral collectivism. I'm sure whatever you are proposing will be very good at promoting reason and protecting the individual rights of atheists like me.

I post liberty stuff that I got from liberty economists and Ron Paul himself. Ron Paul is a staunch free trader who has never once advocated protection from foreign competition. Ron Paul has never talked about immigrants driving down wages. Last time I checked this isn't AgrarianPopulistForums.com Q: Apple Computer employs 46,000 Americans, but also employs about 500,000 people in China. How do you revive "Made in America"?PAUL: You have to create the right conditions to bring these companies back, and they have to bring their capital back and shouldn't be taxed. Apple's a great company, but the way you ask the question, it infers that because there's a bunch of workers overseas, it hasn't benefited a lot of people here. The consumers obviously have been benefited by a good company, well run. But a lot of people worry about us buying and the money going overseas. But if you send money to China, they have to spend those dollars. Unfortunately, they're buying our debt and perpetuating our consumerism here and our debt here. But also, when you get products, let's say the computer costs $100 instead of $1000. Well, the person's just saved $900. That helps the economy. That $900 stays in that person's pocket. So we shouldn't be frightened about trade or sending money on. Which is what I am doing. Life is much better. Getting all of these ideas from people like Thomas Sowell in his book Economic Facts and Fallacies and people like Tom Woods and Don Boudreaux. Or Yaron Brook's book Equal is Unfair. I don't care what economic illiterates like Pat Buchanan or Donald Trump think about anything.