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Topic: How do you think the US economy is doing right now?

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MaximumSam

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Re: How do you think the US economy is doing right now?
« Reply #392 on: August 12, 2024, 08:28:16 PM »
Negatory there, little brother.  That's a nil on the beanos.
Yes grandpa we hear you now let's find you your favorite rocking chair

MaximumSam

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Re: How do you think the US economy is doing right now?
« Reply #393 on: August 12, 2024, 08:48:56 PM »
Sam, you're off on this one. While a lack of immigration might lead to wage growth, which might lead to inflation, I don't think that's really the case here. Especially with the very high immigration that we've seen post-Trump.

But the inflation we see is a global phenomenon, not a domestic one. If it was caused by a lack of US immigration, wouldn't all those countries who were flush with workers see their prices be stable? After all, their people weren't trying to immigrate here, right?

The truth (to my basic economics mind) is that massive fiscal stimulus caused a situation where a lot of new dollars were chasing an equivalent--or due to supply chain issues, a smaller--basket of goods and services. It's monetarily-driven.

However, unlike HB I'm not just going to say this is a Biden or Democrat problem. Trump was already starting fiscal stimulus while still in office--likely to try to get people to vote for him. GWB was starting fiscal stimulus when the Great Recession hit, as well as a few times before that.

So I don't think it's partisan. It's what governments do when the excrement impacts the air circulation device.
I mean yes, you can't deny that increasing the money supply is going to raise inflation. But in the same vein that increases in the money supply don't end at the borders, neither does the costs of US goods and services. 

That increase in price hit everywhere, but the one people complain about the most is the cost of groceries and food. These depend on a lot of "unskilled" labor, the kind easily supplied by immigration, and the kind that dried up in the face of very low levels of immigration. It wouldn't be any surprise to see that hypothetical and conclude crackdowns on immigration contributed to inflation.

But we don't need a hypothetical! We saw it. Many businesses struggled to fill jobs, and therefore struggled to do business without raising prices across the board. We didn't have a policy about making sure people could come and work. We had a policy to prevent people from working. And now we are paying the price.

It's also no surprise that the decrease in inflation has been largely helped by an increase in immigrants working.

utee94

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Re: How do you think the US economy is doing right now?
« Reply #394 on: August 12, 2024, 09:01:17 PM »
Yes grandpa we hear you now let's find you your favorite rocking chair
Lulzno

betarhoalphadelta

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Re: How do you think the US economy is doing right now?
« Reply #395 on: August 12, 2024, 09:27:35 PM »
That increase in price hit everywhere, but the one people complain about the most is the cost of groceries and food. These depend on a lot of "unskilled" labor, the kind easily supplied by immigration, and the kind that dried up in the face of very low levels of immigration. It wouldn't be any surprise to see that hypothetical and conclude crackdowns on immigration contributed to inflation.
Food prices are also HIGHLY correlated to shipping and fertilizer costs... Guess what happened to those? 

And as we discussed re: eggs, a huge portion of that was bird flu. Immigrants aren't going to make bird flu suddenly better. 

IMHO immigration vs non-immigration absolutely CAN affect the cost of goods and services--in fact medina will agree with that, where immigration drives down the cost of labor (and therefore prices that are based upon that labor). 

I just think in the wake of what's happened over the last 4 years, immigration is a very minor factor. 

MrNubbz

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Re: How do you think the US economy is doing right now?
« Reply #396 on: August 12, 2024, 10:06:35 PM »
It's also no surprise that the decrease in inflation has been largely helped by an increase in immigrants working.
Any other rare gems you'd like to mine for the congregation??? Almost any swinging Richard would call false at that economic indicator.
"Let us endeavor so to live - that when we come to die even the undertaker will be sorry." - Mark Twain

FearlessF

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Re: How do you think the US economy is doing right now?
« Reply #397 on: August 12, 2024, 10:07:18 PM »
Immigrants brought the bird flu
"Courage; Generosity; Fairness; Honor; In these are the true awards of manly sport."

utee94

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Re: How do you think the US economy is doing right now?
« Reply #398 on: August 12, 2024, 10:10:13 PM »
Immigrants brought the bird flu
And COVID.

MrNubbz

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Re: How do you think the US economy is doing right now?
« Reply #399 on: August 12, 2024, 10:16:03 PM »
Negatory there, little brother.  That's a nil on the beanos.
Ya well even briskett/Gr Beef has gone thru the roof gonna be more meatless meals.Brutha can you spare a lonestar
"Let us endeavor so to live - that when we come to die even the undertaker will be sorry." - Mark Twain

utee94

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Re: How do you think the US economy is doing right now?
« Reply #400 on: August 12, 2024, 10:24:52 PM »
Ya well even briskett/Gr Beef has gone thru the roof gonna be more meatless meals.Brutha can you spare a lonestar
Oh I wouldn't ever deny a poor, sad soul a bowl of bean soup.  Bean soup can be delicious.

medinabuckeye1

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Re: How do you think the US economy is doing right now?
« Reply #401 on: August 12, 2024, 10:25:31 PM »
Back on topic, just saw this:
Some of you may or may not know but I’ve been an appraiser for the Medina County Sheriff 27 years. We had 8 Foreclosure appraisals this month. The most in several years. Just a FYI…

That is local, second hand, and anecdotal but to me it is just another indicator pointing a bad way.

MrNubbz

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Re: How do you think the US economy is doing right now?
« Reply #402 on: August 12, 2024, 10:35:54 PM »
Back on topic, just saw this:
Some of you may or may not know but I’ve been an appraiser for the Medina County Sheriff 27 years. Didn't know that

That is local, second hand, and anecdotal but to me it is just another indicator pointing a bad way. Kind a felt/figured that
"Let us endeavor so to live - that when we come to die even the undertaker will be sorry." - Mark Twain

847badgerfan

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Re: How do you think the US economy is doing right now?
« Reply #403 on: August 13, 2024, 05:58:07 AM »
Truth finds a way brother. People used to say beans didn't belong in chili, but they are much quieter now.
Bullshit.
U RAH RAH! WIS CON SIN!

FearlessF

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Re: How do you think the US economy is doing right now?
« Reply #404 on: August 13, 2024, 07:21:37 AM »
I'd rather argue over chili and bean soup than.......... the unspeakable
"Courage; Generosity; Fairness; Honor; In these are the true awards of manly sport."

MaximumSam

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Re: How do you think the US economy is doing right now?
« Reply #405 on: August 13, 2024, 07:32:16 AM »
I'd rather argue over chili and bean soup than.......... the unspeakable
I'm always all ears when it comes to what you can add to chili starter base (Texas chili) to make it good

 

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