mrttao
Well-known member
numbers are racist!
Thankfully our savior
United States Biden administration policies and actions - megathread
- Thread starter Tyzuris
- Start date
Thankfully our savior
strunkenwhite
Well-known member
My prices have gone up but they haven't quadrupled.
mrttao
Well-known member
A delayed reaction brought about by a collection of factors, such as most people not believing things are as bad as they really are. As well various actors trying to manipulate the currency. Things will over compensate in the other direction when people finally realize.
There is a reason why the rich have been sinking every dollar they can get their hands on into real estate.
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mrttao
Well-known member
Oh, I also forgot but a huge factors is that Salaries are not going up to match.
So when inflation cuts the value of the dollar to a 1/4th it effectively results in all grocery stores giving a 75% pay cut to all their employees. This drastic reduction in their expenses allows them to discount the sale price, thus prices doubling is a actually discount of 50%.
The end result is massive shift in poverty lines. Vast amount of middle class have become poor. Just as the aristocracy wanted.
strunkenwhite
Well-known member
How delayed do you reckon it is?
mrttao
Well-known member
I can't give exact dates. but you can see prices start to ratchet up already.
Bear Ribs
Well-known member
Most of the time it takes 6 months to a year. It won't happen everywhere at once.
In economics, there's a concept called "Elasticity" which determines how much demand for a product changes with cost/supply. Some things are very elastic, demand changes dramatically with changes in cost. They're "elastic" because when the cost of making them changes, merchants are hesitant to change prices and will take reduced profits instead rather than not sell at all. Most elastic goods have some other substitute that people will switch to if the elastic good becomes too expensive, and they're very often leisure/luxury items. Entertainment like Television and movies are a good example, if movie tickets quadrupled overnight most people would quit going to movies and watch TV instead. If streaming services also quadrupled to absurd rates they'd begin pirating, watching YouTube vids, listening to more music, or borrowing more movies and books from the library. Even if every entertainment skyrocketed at once, people can easily find ways to entertain themselves and would reduce consumption if it was prohibitively expensive. Consequently, those goods are elastic and change in price only slowly, the profit margin stretches rather than the end-user cost.
Inelastic goods are things people will buy at about the same rate no matter the price. These tend towards being necessities that people need a set amount of each week and don't have the option to easily change. Food* and gas are good examples, no matter the price you're going to be buying roughly the same amount of food per week and there's only a handful of good options to stockpile. No matter how high gas gets, people need to commute and need to buy basic necessities so they can only cut down on driving so much. Most commodities have relatively little elasticity, the profit margin stays stable and the cost is passed on to the user.
We're seeing the early stages of a major adjustment in the market, inelastic goods are increasing fast: record gas prices, record rents, empty supermarket shelves, and a real estate market being squeezed like a tube of toothpaste. It's partially being masked by all the elastic goods that are much slower to adapt to the new reality of costs and inflation but they'll spring back eventually.
*This is food as a whole, of course, individual foods can be quite elastic, if corn suddenly became a hundred dollars an ear tomorrow almost nobody would be buying corn, but they'd still be needing just as much food each week and would buy other vegetables. If every food doubled tomorrow, people would grumble but still have to pay it to live.
bintananth
behind a desk
It's mostly gas prices.
Those were $1.249/gal - cash, for regular (IIRC) - when they hit the COVID-low becauase they couldn't go lower.
They're now much higher.
It's not because there isn't enough gas. If it was there would be rationing and a full tank would be a "maybe". It's becauase people are being assholes.
mrttao
Well-known member
mostly agreed but I should note that gas is semi elastic because some of it is utterly essential, but not every trip you make is a necessity. people must drive to work, and they must drive to the grocery store. But they can cut down on driving to entertainment venues.
Speaking of price hikes. I sold a car to carmax last week for 8x what its value was 3 years ago.
Typhonis
Well-known member
Tldr:
Bezos suggested Elon turn Twitter into a a homeless shelter since no one goes into the office, Elon replied "I agree."
What a waste of time reading that garbage.
Reports: Biden admin orders ammo maker to stop selling 5.56 rounds to Americans
americanmilitarynews.com
Reports: Biden admin orders ammo maker to stop selling 5.56 rounds to Americans
The Biden administration has reportedly ordered an ammunition manufacturer to stop selling Americans some 5.56mm rounds, which is the most common for the
americanmilitarynews.com
You mean the other suppliers who are also already suffering from Biden's anti-gun bullshit?
Oh and it seems we're allowed to talk about this now....
www.dailymail.co.uk
Probably so that the Dems can have more excuses to get rid of Biden and put Kamal 'in charge' as chief puppet.
Tucker blasts Biden for setting FBI on woman who sold daughter's diary
Tucker Carlson condemned Joe Biden over a DailyMail.com exclusive revealing a woman who sold the president's sex addict's daughter's diary is now being probed by the FBI.
Probably so that the Dems can have more excuses to get rid of Biden and put Kamal 'in charge' as chief puppet.
He can order whatever he wants, it's up to his bootlickers to see them through.
It's an order he CAN'T lawfully give. Not if the company wants to refuse.
Terthna
Professional Lurker
What we need is people in office actually willing to enforce the law against their peers; because as things stand, it doesn't matter what it says he can and can't do.