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2021 - Is inflation finally back in the conversation?


Reagan1k

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All you have to do is vote them out if it becomes a slippery slope and they start going after your nonexistent investment accounts. It’s the gofundme’s where I personally draw the line. It’s the last bastion for the poor, low class individuals with no safety net.

Satoshi already proved that once we instituted an income tax it only took 30 years for us to be the biggest baddest country on earth and have been for 80 years since.

Edited by StassneyHorn
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9 hours ago, StassneyHorn said:

All you have to do is vote them out if it becomes a slippery slope and they start going after your nonexistent investment accounts. It’s the gofundme’s where I personally draw the line. It’s the last bastion for the poor, low class individuals with no safety net.

Satoshi already proved that once we instituted an income tax it only took 30 years for us to be the biggest baddest country on earth and have been for 80 years since.

Nice deflection.

if we give the government the power to tax something new they will abuse it. Period. This is known and obvious and only denied by people who want to exploit it. 
 

just own it 

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It's not "new".  Marginal tax rates in the top bracket are much closer to historical lows than historical highs.  You can argue that those taxes were on income, not wealth, and you would be correct, but it doesn't mean that wealthy Americans would automatically be paying higher tax bills than ever.

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Edited by jimmyjazz
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28 minutes ago, StruggleBus said:

Lol. Jesus. Of course you do. 

He’s such a hater 

On 10/31/2021 at 7:38 AM, Bozo_Casanova said:

Do you have an example of progressively abusive taxes at the Federal level? 

In less than 40 years the top tax rate went from 1% to 90%. 
 

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4 hours ago, Satoshi said:

In less than 40 years the top tax rate went from 1% to 90%. 
 

In about 40 more it went under 30%, but here's the thing: first, only about 10k people were in that tax bracket at launch. Second, not all income was subject to the rate. Third, there was almost certainly a lot of tax avoidance due to the rate being that high. So what people at the top 1% paid in 1950 wasn't a lot higher than what they pay today.

That doesn't seem progressively abusive. 

Edited by Bozo_Casanova
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had a research note from JPM cross my desk today opening themselves to the possibility of an "inflation is transitory" stance.  not c&ping the entire note but they say power prices appear to be stabilizing and there are signs the worst in supply bottlenecks are moving behind us.  

 

notable, b/c it's the first bit of research and commentary from JPM to fall on this side of the line.  other than that, goldman has been on the transitory side all along.  

Edited by gsoda3
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7 minutes ago, Satoshi said:

Get out of bonds. 

Once the Fed pledged to stabilize back in March 2020 - with $120 billion a month flowing in to prop up the markets - it was risk on for those with appropriate capacity for risk. With the upcoming slow down in purchases by the Fed (down to $105 billion a month from $120 billion a month beginning mid-November), we will see how the markets react over the long haul.

___________________________________

Speaking of the Fed Decision:

Implementation Note issued November 3, 2021

Decisions Regarding Monetary Policy Implementation

The Federal Reserve has made the following decisions to implement the monetary policy stance announced by the Federal Open Market Committee in its statement on November 3, 2021:

  • The Board of Governors of the Federal Reserve System voted unanimously to maintain the interest rate paid on reserve balances at 0.15 percent, effective November 4, 2021.
  • As part of its policy decision, the Federal Open Market Committee voted to authorize and direct the Open Market Desk at the Federal Reserve Bank of New York, until instructed otherwise, to execute transactions in the System Open Market Account in accordance with the following domestic policy directive:
  • "Effective November 4, 2021, the Federal Open Market Committee directs the Desk to:
  • Undertake open market operations as necessary to maintain the federal funds rate in a target range of 0 to 1/4 percent.
  • Complete the increase in System Open Market Account (SOMA) holdings of Treasury securities by $80 billion and of agency mortgage-backed securities (MBS) by $40 billion, as indicated in the monthly purchase plans released in mid-October.
  • Increase the SOMA holdings of Treasury securities by $70 billion and of agency MBS by $35 billion, during the monthly purchase period beginning in mid-November.
  • Increase the SOMA holdings of Treasury securities by $60 billion and of agency MBS by $30 billion, during the monthly purchase period beginning in mid-December.
  • Increase holdings of Treasury securities and agency MBS by additional amounts as needed to sustain smooth functioning of markets for these securities.
  • Conduct overnight repurchase agreement operations with a minimum bid rate of 0.25 percent and with an aggregate operation limit of $500 billion; the aggregate operation limit can be temporarily increased at the discretion of the Chair.
  • Conduct overnight reverse repurchase agreement operations at an offering rate of 0.05 percent and with a per-counterparty limit of $160 billion per day; the per-counterparty limit can be temporarily increased at the discretion of the Chair.
  • Roll over at auction all principal payments from the Federal Reserve's holdings of Treasury securities and reinvest all principal payments from the Federal Reserve's holdings of agency debt and agency MBS in agency MBS.
  • Allow modest deviations from stated amounts for purchases and reinvestments, if needed for operational reasons.
  • Engage in dollar roll and coupon swap transactions as necessary to facilitate settlement of the Federal Reserve's agency MBS transactions."
  • In a related action, the Board of Governors of the Federal Reserve System voted unanimously to approve the establishment of the primary credit rate at the existing level of 0.25 percent.

https://www.federalreserve.gov/newsevents/pressreleases/monetary20211103a1.htm

 

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On 11/1/2021 at 12:04 PM, Satoshi said:

I haven’t seen this surcharge anywhere. Anyone else?

Surcharges behind the scenes in supply chain yes. Reluctance to pass it on as a separate line item though. I’m in distribution (among other things) now and our suppliers charge us 10% we just roll that into the cost as booked in inventory which then leads to a price increase to our customers meaning we pass it on but it’s not a separate line item.

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