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Bush's deficits may be pushing this a tenth of a percent or less.
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Yeah, sure. Bush's inability to spend money like a rational human being is probably a cheif cause behind most of this country's economic problems right now. -
And so it continues...Inflation up, stocks down
Major gauges stuck in the red after surprisingly strong PPI read sparks profit-taking.
November 16, 2004: 11:48 AM EST
NEW YORK (CNN/Money) - Stocks fell near midday Tuesday, with a bigger-than-expected jump in wholesale inflation sparking a wave of profit-taking on the market's three-week rally.
The Nasdaq composite (down 15.75 to 2,078.34, Charts) fell 0.7 percent after around two hours of trading. The Dow Jones industrial average (down 45.08 to 10,505.16, Charts) and the Standard & Poor's 500 (down 6.11 to 1,177.70, Charts) index both lost around 0.5 percent.
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The price of energy for the US is aggravated by the weakness of the $.Originally posted by DanS
Well, maybe not precisely zero.
But almost zero. Bush's deficits may be pushing this a tenth of a percent or less. Most of the remaining is energy price increases over which Bush's role in pricing is extremely limited.
The weakness of the $ is caused by the state of the US.
The state of the US is under the responsibility of the President who delivers, once a year, a speech before the Congress precisely on that subjet.
Therefore, I would say that, directly and indirectly, the role of the President in the inflation acceleration is about 9O%.Statistical anomaly.
The only thing necessary for the triumph of evil is for good men to do nothing.Comment
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If I hadOriginally posted by Pekka
That's right, the real rich are not taking a big hit, they own in real estate and concrete. There are really rich people but only few have 3029840935 million dollars in the actual accounts. Or even in stocks. Besides, I bet if you're real rich, you can cut a nice deal with the bank that takes some of that inflation into account. This mostly hits the people who already makes low salary.
30.298.840.935 Million Dollars,
I would buy the USA and fire Bush as CEO.
30 Quadrillion Dollars should be enough to do this and still have cash for some other decent countries to buy
Tamsin (Lost Girl): "I am the Harbinger of Death. I arrive on winds of blessed air. Air that you no longer deserve."
Tamsin (Lost Girl): "He has fallen in battle and I must take him to the Einherjar in Valhalla"Comment
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Leave it to DanS to supply the voice of reason.As for Bush's role in all of this, it is precisely zero. His only action has been no action -- he decided to not tap the strategic oil reserve for short-term political gain, unlike Clinton did.Comment
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Stocks are demonated in dollars, and therefore are affected by inflation.Originally posted by VJ
wanha
W's deficits ain't news, are they?
Rich don't keep their money sleeping at bank accounts anymore. They hire their own economists and invest in stocks. It's the middle class who usually keep their money resting in banks, to help them in case of emergency situations.I drank beer. I like beer. I still like beer. ... Do you like beer Senator?
- Justice Brett KavanaughComment
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inaction doesn't mean you aren't responsible.Originally posted by DanS
Certainly a wait-and-see whether it is anything. The PPI is notoriously volatile and is weighted heavily to commodities, such as oil and natural gas. Oil prices have come well down from their highs in the last couple of weeks -- almost a 20% drop. We'll just have to see where they go from here.
As for Bush's role in all of this, it is precisely zero. His only action has been no action -- he decided to not tap the strategic oil reserve for short-term political gain, unlike Clinton did.I drank beer. I like beer. I still like beer. ... Do you like beer Senator?
- Justice Brett KavanaughComment
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If this is the peak in energy prices it is so only in the short run. Energy prices are going to keep going up and up.I drank beer. I like beer. I still like beer. ... Do you like beer Senator?
- Justice Brett KavanaughComment
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ask yourself: what have you done to curb inflation?inaction doesn't mean you aren't responsible.
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The pres has had "almost no impact"???
Did I hear that right?
* Bush practically rammed the war with Iraq down the world's throat.
* One side effect of said war was to basically shut down the world's 2nd largest oil reserve
* Predictably, this sent oil prices higher
But this had "almost no impact?"
Just making sure I understand....
-=Vel=-Comment
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Correct me if I'm wrong here, but:Stocks are demonated in dollars, and therefore are affected by inflation.
Stocks are parts of a corporation. If inflation occurs, and the absolute value of the corporation stays the same, the stock price goes up along with inflation.
So, now your position is either:But almost zero. Bush's deficits may be pushing this a tenth of a percent or less. Most of the remaining is energy price increases over which Bush's role in pricing is extremely limited.
(a) Bush had an extremely limited role when the US decided to occupy Iraq, or
(b) US' occupation in Iraq has an extremely limited role regarding oil prices.
BTW, I'm not saying that the occupation was a wrong decision to make, I just find the way how you're constantly trying to defend Sonny Bush hilarious.Comment
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This is true. The US occupation in Iraq has an extremely limited role regarding oil prices, mainly limited to a small short-term increase in volatility. Iraq is exporting about as much as it was before the war. Over the long run, Iraq may have additional production capacity because of the war, but that hasn't happened yet.(b) US' occupation in Iraq has an extremely limited role regarding oil pricesI came upon a barroom full of bad Salon pictures in which men with hats on the backs of their heads were wolfing food from a counter. It was the institution of the "free lunch" I had struck. You paid for a drink and got as much as you wanted to eat. For something less than a rupee a day a man can feed himself sumptuously in San Francisco, even though he be a bankrupt. Remember this if ever you are stranded in these parts. ~ Rudyard Kipling, 1891Comment
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As a thought exercise, compare the relative impact of the Fed's actions versus the president's actions. Then consider the relative impact of the congress's actions versus the president's actions.The weakness of the $ is caused by the state of the US.
The US presidency is a very weak institution. Many people outside the US don't realize this fact. And this doesn't even bring out the fact that economic actors (companies, individuals) make most of the economic decisions in the US. The US isn't like France.I came upon a barroom full of bad Salon pictures in which men with hats on the backs of their heads were wolfing food from a counter. It was the institution of the "free lunch" I had struck. You paid for a drink and got as much as you wanted to eat. For something less than a rupee a day a man can feed himself sumptuously in San Francisco, even though he be a bankrupt. Remember this if ever you are stranded in these parts. ~ Rudyard Kipling, 1891Comment
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I've been buying less and making less money.Originally posted by Japher
ask yourself: what have you done to curb inflation?
Christianity: The belief that a cosmic Jewish Zombie who was his own father can make you live forever if you symbolically eat his flesh and telepathically tell him you accept him as your master, so he can remove an evil force from your soul that is present in humanity because a rib-woman was convinced by a talking snake to eat from a magical tree...Comment
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BTW, I'm not saying that the occupation was a wrong decision to make, I just find the way how you're constantly trying to defend Sonny Bush hilarious.
You get used to it.“I give you a new commandment, that you love one another. Just as I have loved you, you also should love one another. By this everyone will know that you are my disciples, if you have love for one another.”
- John 13:34-35 (NRSV)Comment
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