Today is sell sell sell sell day
- Thread starter OlecountryDawg
- Start date
I'm afraid that's not the right move.
Oh yes he can...it's called inflation.
Anything that will totally mess the system up and cause issues I’m all for for the next fours yrs...two can play at that game..may not be able to effect policies after the BS election, but 50% of America can sure effect the economy
I am investing in metals...mostly lead.
Get off your high horse, that's exactly how you and your ilk have acted the past 4 years.
You're supposed to be over age 13 and be able to think to post on here. Wasn't that explained to you when you joined?
Meanwhile, markets just hit all-time high. Best market rally to start almost any new president's term. Doing the opposite as you advise is a perfect contrarian market indicator. Please keep making market predictions so I can do the exact opposite and load up.
Yep....there is always inflation. And Post COVID there will be a number of impacts to the economy known and unknown. But...if Biden pursues a lot of what he is supporting/proposing ($15 minimum wage, universal healthcare, increased taxes on the wealthy/corporations, stimulus support that further enables people to stay home, etc.) there will be accelerated inflation. We can debate, argue, or agree on the plus or minus of any one of those initiatives, but the net effect is higher inflation. And a $1 today will be worth a lot less tomorrow. It's just math.
No, me and my ilk have been and are for our country.
Some agreeance. The job / business losses under the pandemic have been staggering and as some are added back it will cause upward inflationary pricing pressure. However, those same losses have also been deflationary and a drag on the economy for months, and will continue to be, so we really have no choice except to help adding back those losses. The effect of doing nothing is far worse than manageable inflation which has been the Fed's stated goal over the last 3 presidencies. What we can't allow is runaway inflation a la the '70's and I don't think that's Yellen's plan.
I don't see how a national healthcare system is inflationary if the cost of healthcare or premiums comes down. I doubt Congress will go along with $15/hr min wage with $10-$11 +/- more likely doable. I disagree that increased tax rates on those with income over $400K and higher corporate tax rates is inflationary. Removing discretionary spending power or corporate largess is disinflationary.
I'm more right than centrist re fiscal responsibility. We'll see what happens in Congress next term but I'm prepared to vote for another person in 4 years if necessary.
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Any government run healthcare system will be more expensive than private care...especially in the beginning. For small portions of the populous it will be cheaper...but the majority of income earners will have to pay more. Our government has proven again and again how inefficient it is. To run something this gigantic will be terribly expensive.
I have lived in a country with national healthcare and my effective costs via taxes was significantly higher than what I paid in the US. We can discuss the other negatives doing government healthcare (you won't draw the talent to the profession, red tape, poorer facilities, etc.) but that would be another sidebar. I am speaking from experience here.
As for raising taxes on the wealthy and corporations and significant increases in minimum wage...who do you think employs the masses? If you increase their costs...either their taxes or their operating costs significantly...they will either deal with a significant reduction in their earnings (which they won't do) or pass on their new expenses in the price of their goods. And they will look to further reduce labor force via mechanization, or other employee replacement processes to drive efficiency. Yes...this is already going on and this will only increase the urgency.
So Biden says $15 minimum wage but congress will only give $10-11? So he is overselling what he expects (feeding his constituency a bunch of bull) or he doesn't understand what he can get. Either way it makes no difference. A $10 national minimum wage is a 33% increase in base minimum. And it is foolish to think that this only impacts the minimum wage workers. If I have an employee that makes $7.50 and another who makes $8.50...new minimum wage goes to $10...do you think my $8.50 employee will be happy making what the other guy (with less skills, etc.) makes? Plus, it does not just affect my salary line. All of my suppliers of products and services also have to deal with these increases. So they pass on increases in their products/services to offset their profit loss. Plus they have to pay higher taxes for profits etc. just like I do. So virtually every line on my P&L has a butterfly impact from the wage increases. I'm working on 5%-10% margins...I've got no choice but to increase my prices significantly and/or to reduce my staff. I'm not saying we shouldn't address minimum wage, etc. But you have to do it gradually.
As for the stimulus...I agree we have to do some things. But when people make more money not working than they did working...or they easily qualify for unemployment regardless of how hard they are trying to find a job...and they get "free" healthcare...and we have to print up another trillion dollars...all of these things have costs and inflation impacts.
It's easy to sell things like universal healthcare, and government stimulus checks, and increased minimum wage, and punishing the rich employers via taxes and costs...but they all lead to the same spot. Inflation. Nothing is free and government is inefficient by its very nature.
I have lived in a country with national healthcare and my effective costs via taxes was significantly higher than what I paid in the US. We can discuss the other negatives doing government healthcare (you won't draw the talent to the profession, red tape, poorer facilities, etc.) but that would be another sidebar. I am speaking from experience here.
As for raising taxes on the wealthy and corporations and significant increases in minimum wage...who do you think employs the masses? If you increase their costs...either their taxes or their operating costs significantly...they will either deal with a significant reduction in their earnings (which they won't do) or pass on their new expenses in the price of their goods. And they will look to further reduce labor force via mechanization, or other employee replacement processes to drive efficiency. Yes...this is already going on and this will only increase the urgency.
So Biden says $15 minimum wage but congress will only give $10-11? So he is overselling what he expects (feeding his constituency a bunch of bull) or he doesn't understand what he can get. Either way it makes no difference. A $10 national minimum wage is a 33% increase in base minimum. And it is foolish to think that this only impacts the minimum wage workers. If I have an employee that makes $7.50 and another who makes $8.50...new minimum wage goes to $10...do you think my $8.50 employee will be happy making what the other guy (with less skills, etc.) makes? Plus, it does not just affect my salary line. All of my suppliers of products and services also have to deal with these increases. So they pass on increases in their products/services to offset their profit loss. Plus they have to pay higher taxes for profits etc. just like I do. So virtually every line on my P&L has a butterfly impact from the wage increases. I'm working on 5%-10% margins...I've got no choice but to increase my prices significantly and/or to reduce my staff. I'm not saying we shouldn't address minimum wage, etc. But you have to do it gradually.
As for the stimulus...I agree we have to do some things. But when people make more money not working than they did working...or they easily qualify for unemployment regardless of how hard they are trying to find a job...and they get "free" healthcare...and we have to print up another trillion dollars...all of these things have costs and inflation impacts.
It's easy to sell things like universal healthcare, and government stimulus checks, and increased minimum wage, and punishing the rich employers via taxes and costs...but they all lead to the same spot. Inflation. Nothing is free and government is inefficient by its very nature.
