Fed Chair Powell Says Economic Pain Coming

Dave Denslow was an Economics Professor. If I remember correctly, I think he even wrote the book. He was excellent.

Regardless, Jo doesn’t belong in the ring and hopefully he gets an early start on his roadwork.

 

I have no point to prove. Excess liquidity in the Money Supply drives inflation. It’s pretty basic stuff. Covid Stimulus plus the added Biden spending put a lot of liquidity into an already supply strained economy.

Gasoline, meet fire. BOOM!!

I await the next cute nickname you make up for conservatives. That one sure blew up in your face.

Just in case your accepting your much needed help:

https://people.clas.ufl.edu/denslow/files/DENSLOW-2012-CV.pdf

 

Under the first Biden budget (2022) the deficit was reduced to $1.4 trillion, from the prior annual yearly amounts of $2.8 trillion and $3.1 trillion under Trump. Wow, Biden reduced the deficit by over 50% from what it was under the largest deficit-spending President in US history!! (who you voted for)

Additionally, the covid relief act passed under Biden was smaller than the largest federal bailout in US history, passed by his predecessor. (who you voted for)


So I think what you REALLY meant to say was "Thank you Brandon for the anti-inflationary reduction in deficit spending!! Also, I'm sorry for voting for the largest debtor president per annum in US history!!

So in addition to going back to school, please make sure you have a mirror handy if you want to be criticizing anyone for deficit or inflationary spending.


Oh yeah. Boom. Fire. Gasoline. Whatever cute things do you like to say?

 

Cherry tree… meet picker!

Did you ever figure out the difference between your economics professor? I’m pretty sure that I’ve got many years on you but I still remember the difference in McCollough’s and Denslow’s lectures and courses.

 

Yeah, maybe the we need to re-think that idea. Especially the armed agents part. Biden is the biggest puppet in the history of our Constitutional Republic. We need to find Obama and drag him out of his evil lair too. You know he's the one programming Biden.

 

You are completely unhinged. The stuff of lunatics and I think you forgot the Orange Menace who’s in the employ of Putin.

 

I wish the 2006 version of Gatorrick could see what you have become.

 

Another blow out jobs report today, better than expected ... Biden already holds the record for most jobs created in a presidential term, and that record grows every month, it will likely stand for decades ...

 

But, but, but Drumpf owns the libs!

 

That's a pretty sweet take-away from those courses - you remember their names. Too bad you didn't learn any of the material they taught.

 

My sister is a bookkeeper. She was making $16/hour pre COVID. After, she did change jobs and is now making $24/hour. The market started changing and she went where the money was. She now has more discretionary money than she has ever had. She bought a condo and is a happy camper.

If bookkeepers are making that much more money, then I would think it is more accross the board than what we imagine it to be.

 

Transitory means not permanent. They were using that word in 2021 to suggest inflation was only going up for a bit. Obviously they were wrong when it got past 8%.

When you have supply chain issues and throw a ridiculous amount of money into the market along with record low interest rates, what did they think would happen…

 

seems like climate change / extreme weather events are impacting insurance rates which are one of the current primary drivers of inflation

Jerome Powell just revealed a hidden reason why inflation is staying high: The economy is increasingly uninsurable (msn.com)

“Insurance of various different kinds — housing insurance, but also automobile insurance, and things like that — that’s been a significant source of inflation over the last few years,” he said.

On Tuesday, data from the Bureau of Labor Statistics showed that its metric for auto insurance, which covers physical damage, liability, and miscellaneous insurance coverage for private passenger vehicles, increased 20.6% over the past year and climbed 0.9% in February compared to the month prior. Meanwhile, a study from S&P Global Market Intelligence found that homeowners' insurance jumped 11.3% in 2023. Generally, Inflation came in slightly higher than expected last month, at 3.2% compared to the same period last year, according to the BLS.

Driving the increases in insurance are factors such as climate change and rising prices for car parts, experts say. The more frequent extreme weather caused by climate change is leading to higher risk for insurance companies, which has led them to increase their prices, according to a study from Bankrate. Over the past decade, the U.S. has experienced a record $1.1 trillion in damage from severe weather, the most on record, which has contributed to higher insurance costs, the study claimed.

Insurers pay reinsurance companies to help them avoid insolvency in the case of catastrophic weather events. But because of the increased likelihood of harsh weather conditions that can damage homes, reinsurance companies are charging insurance companies more for their services, and the insurers are passing on the costs to customers,

 

No cut in June?

 

He also taught Econ 2101 I think. It’s been decades. 2151 maybe my mind is fuzzy.

 

wrt econ at UF back in the day. To my knowledge Denslow never taught finance. In 84/85 Denslow taught intro micro & Mark Rush taught intro macro.

 

Same in the 90’s.

 

And 00's. Actually, it was the reverse (Denslow taught Macro and Rush taught Micro).

 

I had Rush for micro.