Archie Posted January 16, 2022 Share Posted January 16, 2022 1 minute ago, oblong said: What policy change caused the supply chain issue as you call it. If you look back at my comment I didn't say a policy change cause the supply chain issues. I said I thought three things contributed to inflation in the US and that would be covid, supply chain issues and policy change. Quote Link to comment Share on other sites More sharing options...
Tiger337 Posted January 16, 2022 Share Posted January 16, 2022 Biden is just as responsible for inflation as Trump was for the high unemployment rate in 2020. These guys are like Gods. They control everything. Quote Link to comment Share on other sites More sharing options...
Archie Posted January 16, 2022 Share Posted January 16, 2022 If you look at things objectively and not with partisan blinders on you will see the truth better. Presidents get wrongly blamed for things and then given credit for things they have nothing to do with. It won't ever change and we see it everywhere including right here on this forum. Quote Link to comment Share on other sites More sharing options...
oblong Posted January 16, 2022 Share Posted January 16, 2022 12 minutes ago, Archie said: If you look back at my comment I didn't say a policy change cause the supply chain issues. I said I thought three things contributed to inflation in the US and that would be covid, supply chain issues and policy change. What policy change caused inflation? Quote Link to comment Share on other sites More sharing options...
Jim Cowan Posted January 16, 2022 Share Posted January 16, 2022 Brexit caused supply chain issues, which caused inflation. Johnson gets blamed for that. And inflation is worthwhile if Brexit keeps brown immigrants out, which is its only purpose. Quote Link to comment Share on other sites More sharing options...
Tiger337 Posted January 16, 2022 Share Posted January 16, 2022 1 hour ago, Archie said: Presidents get wrongly blamed for things and then given credit for things they have nothing to do with. They get too much credit and too much blame especially for the economy over which I think they have very limited influence. They are kind of like baseball managers that way. Quote Link to comment Share on other sites More sharing options...
Mr.TaterSalad Posted January 16, 2022 Share Posted January 16, 2022 3 hours ago, Archie said: Boris Johnson has been in office for a few years now. Has he changed any policy that would cause inflation? I don't know the answer but inflation in his country is probably due to similar reason it is in the US. I think inflation in the US started to increase soon after Biden took office. Is it 100% his fault? I wouldn't say it is but some of his policies contributed to it. Covid and supply chain issues are a big part of the problem. Biden takes a hit on this because he said he would get covid under control and that the supply chain issues would be fixed. That's never happened and covid is way worse than its ever and the supply chain issues are also as bad as ever. Biden would have been better saying nothing than trying to take credit for something that he thought would or might happen. His "talk" with the longshoreman didn't do anything. Great Britain is also seeing record Covid numbers so that's probably a big contributor to the problem. I've hear a lot of people blame the $1,400 checks sent out as apart of the American Rescue Plan as the cause of inflation. I hear boobs like former Treasury Secretary Larry Summers saying that. I know you didn't mention it here and that's fair and fine. I just remind people that if Biden's $1,400 ARP stimulus caused inflation how bad would things have been if Trump had gotten the $2,000 checks he wanted to send out. I ask people who believe Biden's ARP checks caused inflation (not saying you do) if we would have gotten Zimbabwean levels of inflation if Trump had gotten his $2,000 stimulus checks passed. Quote Link to comment Share on other sites More sharing options...
Archie Posted January 16, 2022 Share Posted January 16, 2022 8 hours ago, Tiger337 said: They get too much credit and too much blame especially for the economy over which I think they have very limited influence. They are kind of like baseball managers that way. Unless it was Brad Ausmus. He didn't get enough credit for taking down a good team. Back on topic and not directed to TIger337...Businessesare not going to absorb higher costs. They are going to pass them on to the consumer like we are seeing. One area they have higher costs is in energy and fuel. Biden's policy of shutting down pipelines and cutting back domestic oil production has contributed to energy cost increases. If the dem tax increase on business goes through that will not help either. Its just more costs passed on to us. Quote Link to comment Share on other sites More sharing options...
pfife Posted January 16, 2022 Share Posted January 16, 2022 2 hours ago, Archie said: Unless it was Brad Ausmus. He didn't get enough credit for taking down a good team. Back on topic and not directed to TIger337...Businessesare not going to absorb higher costs. They are going to pass them on to the consumer like we are seeing. One area they have higher costs is in energy and fuel. Biden's policy of shutting down pipelines and cutting back domestic oil production has contributed to energy cost increases. If the dem tax increase on business goes through that will not help either. Its just more costs passed on to us. Lol except it didn't. Nice making it up as you go Quote Link to comment Share on other sites More sharing options...
pfife Posted January 16, 2022 Share Posted January 16, 2022 (edited) And also nice literally saying multiple times that a policy change didn't cause it, then literally blaming a Biden policy change for it. troll much? Edited January 16, 2022 by pfife Quote Link to comment Share on other sites More sharing options...
oblong Posted January 16, 2022 Share Posted January 16, 2022 What operating pipeline was shut down? 1 Quote Link to comment Share on other sites More sharing options...
gehringer_2 Posted January 16, 2022 Share Posted January 16, 2022 (edited) 3 hours ago, pfife said: cutting back domestic oil production LOL - Exxon sending out poorly trained maintenance people out two days before Christmas to fix a leak who subsequently blew up the hydrotreater at Baytown refinery which has resulting something like +150000 bbl a day of lost production has probably contributed as much to the increase in gas prices as anything Biden has done. Edited January 16, 2022 by gehringer_2 Quote Link to comment Share on other sites More sharing options...
chasfh Posted January 17, 2022 Share Posted January 17, 2022 ECON 101 taught me that businesses can’t always just turn around and pass 100% of cost increases on to customers, because higher prices pushes demand down, customers buy less, inventory builds up, and businesses start incurring greater losses than from just the price increases. Businesses can successfully pass on costs only if demand for their products is relatively inelastic. Quote Link to comment Share on other sites More sharing options...
Jim Cowan Posted January 17, 2022 Share Posted January 17, 2022 41 minutes ago, chasfh said: ECON 101 taught me that businesses can’t always just turn around and pass 100% of cost increases on to customers, because higher prices pushes demand down, customers buy less, inventory builds up, and businesses start incurring greater losses than from just the price increases. Businesses can successfully pass on costs only if demand for their products is relatively inelastic. Yes exactly. Gasoline, cigarettes, alcohol, crack cocaine, electricity - quantity demanded declines by a relatively lower percentage than the percentage increase in price. However if you are at the elastic end of the demand curve, for example a vacation resort, a price increase results in a decline in total revenue. Quote Link to comment Share on other sites More sharing options...
chasfh Posted January 17, 2022 Share Posted January 17, 2022 33 minutes ago, Jim Cowan said: Yes exactly. Gasoline, cigarettes, alcohol, crack cocaine, electricity - quantity demanded declines by a relatively lower percentage than the percentage increase in price. However if you are at the elastic end of the demand curve, for example a vacation resort, a price increase results in a decline in total revenue. Right, and even among less elastic products there can be tradeoffs consumers can make. With gasoline, there's driving less; with cigarettes and alcohol, there are cheaper brands. Point being, it's not as easy as here you go, customer, pay for my price increase. If it were that easy no one would ever go out of business due to cost increases. Quote Link to comment Share on other sites More sharing options...
Jim Cowan Posted January 17, 2022 Share Posted January 17, 2022 6 minutes ago, chasfh said: Right, and even among less elastic products there can be tradeoffs consumers can make. With gasoline, there's driving less; with cigarettes and alcohol, there are cheaper brands. Yes we are agreeing on this...in the inelastic range quantity demanded does decline in response to a price increase, for the reasons you stated, but the percentage decline is less than the percentage price increase. Quote Link to comment Share on other sites More sharing options...
Cartman Posted January 19, 2022 Share Posted January 19, 2022 Psaki Says Biden Stands By ‘Powerful Speech’ Comparing Republicans to Segregationists: ‘Not a Partisan Speech’ The Biden Administration sound more and more Trumpy by the day. Good thing they have the Magic Letter D that lets them off the hook when they call over half the country "racist bigots" for not agreeing with their policies... 1 Quote Link to comment Share on other sites More sharing options...
pfife Posted January 20, 2022 Share Posted January 20, 2022 lol Quote Link to comment Share on other sites More sharing options...
Motown Bombers Posted January 20, 2022 Share Posted January 20, 2022 Quote Link to comment Share on other sites More sharing options...
Tiger337 Posted January 20, 2022 Share Posted January 20, 2022 Who is Cartman? All his posts (except for one admittedly funny post about the Lions) are hit and run political posts. MarothforMVP? Stan? Quote Link to comment Share on other sites More sharing options...
Motown Bombers Posted January 20, 2022 Share Posted January 20, 2022 Cartman is a fat kid who lives in Colorado. Quote Link to comment Share on other sites More sharing options...
Jim Cowan Posted January 20, 2022 Share Posted January 20, 2022 13 minutes ago, Tiger337 said: Who is Cartman? All his posts (except for one admittedly funny post about the Lions) are hit and run political posts. MarothforMVP? Stan? He doesn't seem to be vulgar enough for Maroth or conceited enough to be Stan. To choose one it would be Maroth I guess. Quote Link to comment Share on other sites More sharing options...
Tigerbomb13 Posted January 20, 2022 Share Posted January 20, 2022 Sounds like Loosegoose to me. The guy that would post questionable articles about climate change and then not come back until the next article. 1 1 Quote Link to comment Share on other sites More sharing options...
mtutiger Posted January 21, 2022 Share Posted January 21, 2022 Going back to the BBB debate, if it isn't clear already, Manchin is a lot more in-step with what the voters in his state want than perhaps we give him credit for. Quote Link to comment Share on other sites More sharing options...
Motown Bombers Posted January 21, 2022 Share Posted January 21, 2022 LOL progressives think they are going to primary Manchin in West Virginia. I just don't understand why they focus so much attention on Manchin. Go Flip Pennsylvania, Wisconsin, Florida, North Carolina, Ohio etc and make him irrelevant. Quote Link to comment Share on other sites More sharing options...
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