Good Tuesday Morning All. 83* for a high today with 0% chance of rain. :icon14: Time to hit it guys. So Hope you all have a good one today. Stay Safe, Stay Positive and Keep Moving Forward. :tup:

Remember: "After Writing An Angry Email, Read It Carefully. Then Delete It."

:iagree::iagree:

morning all,
nice and sunny day in Knoxville
back to Atlanta for a day or two
enjoy the moment...
:driving:

261 Days until Thanksgiving 2023

293 Days until Christmas 2023

300 Days until New Years 2024

∞ Days until EW pays off his BMW

Fed. Chair Jerome Powell is scheduled to get grilled by Congress regrading inflation. So they're having a meeting about something in which Jerome admitted to not understanding and wasting time on something that is theoretically simple to fix, rather than other pressing issues. Raising rates is only half the battle to fighting inflation, and continuing to raising rates at this stage of the game won't do anything! Fix the global supply chain issue and and leave rates where they are.

https://www.cnn.com/2023/03/07/inves...ing/index.html

have fun brother.:hello::hello:

:ugh2::ugh2:

we gotta hold on for the wild ride ahead.:rofl2:

It’s really not a hard concept:

Yes, raising rates will slow down the economy and would lower inflation in a “normal” market. However, raising rates in an environment plagued by supply chain issues will:

1. Increase the cost of production so production itself will decrease
2. Decrease spending by consumers in a rate-rising and production-reducing environment, so production will be even less (why produce when no one is buying and also cost more to produce)

Since supply is the biggest driver with the current inflation crisis, less supply means inflation will stay and increasing rates will mean less spending. Basically taking out supply AND demand :shakes head:

Stop spending money you don’t have. Simple solution.

Oh, and I thought the $1.5 TRILLION “inflation reduction act” was going to take care of all this? :confused::rofl2:

You're right, however, statistics show that for every $17 is spent, $15 of this is on credit. This is unfortunately the norm even before the pandemic.

Spending does need to slow down, but the bigger pressing issue is keeping the supply chain functional, not to decrease production in an already supply-stricken environment by raising rates. Spending going down and supply going up would theoretically lower inflation. However, at the current rate, it looks like supply AND demand are both being wiped out, and with inflation to stick around.

There is ZERO chance of the Fed guiding us to a soft landing. By definition, we are in a recession, regardless of what these clowns think and say.

Rule number ONE is you don’t raise interest rates in a recession.

They’re whistling past the graveyard.

powell should be tossed out, and our next fed chair should be mr. vtec:iagree::iagree:

Yea! I hear those Asians are pretty good with math! :stirthepot: :rofl2:

By definition, yes we are in a recession. In actuality, nope, because you can't fight inflation and a recession at the same time (inflation, you trying to fight spending, while in a recession, you're trying to encourage spending).

And there is not even a hard landing. Most likely a crash :shakes head:

Motherf*cker :eek: :rofl2: :icon17: