Now trending - Bare Shelves Biden

#205
#205
FLVOL69 said:
She should've called up that idiot Austin Goolsby who worked for Obama i'm sure he would've been right on board 😆
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He was on Hannity the other night and Hannity told him to spin the economy and he sure laid it on thick. Record job growth/jobs created made me laugh. Simply filling jobs that have been there the whole time and/or bringing the jobs back that were there 1.5 years ago, before the terrible policies that crippled the jobs were implemented, shouldn’t count as job growth and at minimum shouldn’t be used as a talking point of success. He also said we have the highest oil production domestically we’ve ever had; outside of a few years in Trump’s tenure. So now we’re bragging about being 3rd-4th place; the everyone gets a ribbon mentality fits this regime immensely.
 
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#207
#207
AthensVol2007 said:
He was on Hannity the other night and Hannity told him to spin the economy and he sure laid it on thick. Record job growth/jobs created made me laugh. Simply filling jobs that have been there the whole time and/or bringing the jobs back that were there 1.5 years ago, before the terrible policies that crippled the jobs were implemented, shouldn’t count as job growth and at minimum shouldn’t be used as a talking point of success. He also said we have the highest oil production domestically we’ve ever had; outside of a few years in Trump’s tenure. So now we’re bragging about being 3rd-4th place; the everyone gets a ribbon mentality fits this regime immensely.
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Yep a couple of slack jaws linked that exchange on here stating how Goolsbee had wiped the floor with Hannity. When they do stupid **** like that they should really leave the video link off.
 
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#209
#209
AthensVol2007 said:
I was an economics major and have a masters degree in government/public administration so I believe I understand it. We’ll call it a market failure, fine. But you refuse to acknowledge that the root cause of the market failure was misguided, heavy handed government intervention into the market when it wasn’t necessary. The very definition you posted explicitly says the failure occurs in a free market. The failures we’re seeing aren’t typical externalities resulting from a free market. The government stepping in with exuberant unemployment benefits & pumping “free money” into the citizenry’s hands, artificially raised the wages necessary to hire workers and/or kept workers out of the workforce. Both have led to cost-push inflation where we have a decrease in supply of goods coming to market due to the cost of production or distribution of said goods, therefore raising the price of the few good that we have access to. Compounding that, is the free money floating around being thrown at too few goods.

The literal forcing of businesses to close under the threat of financial and/or penal actions (much of 2020) only exacerbated the production side and created a backlog. Tied back to the first point, once those workers went home a lot didn’t come back.

The energy sector is driven not only by pure supply and demand but it’s highly driven by speculation on the future’s market as well. The administration’s insistence on cleaner energy and pressuring of divestiture in the fossil fuel industry has helped fuel higher prices, coupled with a return to a more normal demand. The government has halted the issuing of new leases/permits for exploration and future production on federal lands while proposing to hike the royalties for drilling on current leases; both raise the prospective/future cost of oil. The administration has pressured banks to divest from the fossil fuel energy in the form of limiting access to capital for producers/investors in the name of climate change, stifling further investment and exploration. Domestic production lags behind 2019/early 2020 levels by 2M BPD and even lags behind 2020 levels as a whole. Drillers have been cautious to fire-up operations to pre 2020 levels under the “fear” of potential waning demand in the name of the boogeyman driving it all…Covid.

Here’s where government intervention into a free market has had the biggest hand in creating the market failures. Bureaucratic agencies devising and enforcing quarantine and medical decision making policies on private businesses, in addition to the government pushing a fear-mongering narrative, have had the largest & most direct impact on the functioning of the market. The logjam of sitting containers and floating ships on the west coast was created by understaffed ports at Long Beach and LA and limited chassis/drivers from Covid quarantine policies. No other sickness in modern history has one been told how long they must stay out of work before returning. A sickness that may put someone down for 2-3 days and then they’re well enough to return to work has forced them out for 10-14 days at a time. The increased work load and stress points on the workers still present, led some to say f*** it I’m out, further snowballing the situation. Thanks to the government’s intervention into the marketplace these workers can go somewhere else and make more money, due to higher wages being offered to attract workers or they can sit at home, be compensated well enough to survive while being extra-picky about future employment prospects. I have first hand experience with the latter situation. My current administrative assistant quit her job in mid-2020 because her drive was getting to her financially and she was able to collect unemployment and be better off. Her unemployment allowed her to turn down job offers and she went as far in the negotiation process of telling employers that what they offered wasn’t competitive enough because she could make more not working. Only when my opening came along, did she decide it was time to go back to work because of what it paid. What it took to get her, was nearly 20% more than we were currently paying any other admin in our department. What did we do after that? Raised everyone else’s salary in those roles to keep them on par with each other and prevent a mutiny, knowing that any of them could see the salary being offered on the public job posting. Nobody was unhappy with their wages at the time of her hiring, while the free market had dictated what they were worth and two independent entities came together on a mutual agreement, independent of any artificial, external factors.
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Athens from the top rope!

macho-man-flying-elbow-drop.gif
 
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#211
#211
evillawyer said:
Boy, no one on this board seems to know what a "market failure" is (other than @volinbham and me). It's got a technical meaning in economics. @volinbham suggested I didn't know what the term meant, so I supplied an example of someone examining how the current supply chain issues represent a market failure, in the technical, economic sense.

What Is Market Failure?
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Why do you continue to speak about things you have literally zero clue about? Are you upset that your boy Biden is making Trump look like. Historically great POTUS? I mean is it that hard to accept that this is his fault?
 
#213
#213
evillawyer said:
Seems like she's a total lightweight. You wanna compare your CV to hers?

Diane Coyle - Wikipedia
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LOL - wanna compare your CV to legal minds that disagree with your hot takes?

You can find an economist to support any viewpoint just as you can find a lawyer to support any viewpoint. If our current supply chain issues were due to Market Failure rather than other explanations (including market interference) there would be widespread acknowledgement of that among the profession. You found 1 person and the linked article doesn't really explain the economic foundations of why supply chains are market failures - it just claims they are all while ignoring any number of market distorting actions by various entities.
 
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#218
#218
StarRaider said:
what is nancy pickled pelosi gonna do fer booze?
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A supply and distribution problem doesn’t affect the affluent. If you ever see Pelosi in a northern Virginia ABC store , it will be because DC caught a giant Tsunami wave and she’s playing the odds , trying to pick something up for the road trip .
 
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#219
#219
volinbham said:
LOL - wanna compare your CV to legal minds that disagree with your hot takes?

You can find an economist to support any viewpoint just as you can find a lawyer to support any viewpoint. If our current supply chain issues were due to Market Failure rather than other explanations (including market interference) there would be widespread acknowledgement of that among the profession. You found 1 person and the linked article doesn't really explain the economic foundations of why supply chains are market failures - it just claims they are all while ignoring any number of market distorting actions by various entities.
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You accused me of not knowing what the term "market failure" meant, not whether the current situation with supply chain issues was a market failure. Disagreeing about the application of a term to a particular set of facts does not show that one of the two parties doesn't know what a term means. Consider the overtime loss to Purdue. I thought it was a touchdown. The refs didn't. On your theory the refs don't know the meaning of "touchdown" because they disagreed with me on whether that was a touchdown.

I presented you with a well-respected economist who labeled the current supply chain issues a market failure. You may disagree with that assessment, but I'm pretty damn sure she knows what a market failure is.

So, let me know when I get my apology.
 
#221
#221
evillawyer said:
You accused me of not knowing what the term "market failure" meant, not whether the current situation with supply chain issues was a market failure. Disagreeing about the application of a term to a particular set of facts does not show that one of the two parties doesn't know what a term means. Consider the overtime loss to Purdue. I thought it was a touchdown. The refs didn't. On your theory the refs don't know the meaning of "touchdown" because they disagreed with me on whether that was a touchdown.

I presented you with a well-respected economist who labeled the current supply chain issues a market failure. You may disagree with that assessment, but I'm pretty damn sure she knows what a market failure is.

So, let me know when I get my apology.
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My assertion that you didn't know what the term meant was based on your blanket labeling of the supply chain as an example. It isn't. Since you incorrectly applied the term it implies you don't know the meaning of the term. Finding one economist who agrees with you does not make the application of the term correct.

I think she knows what it means but misapplied it. So far I've seen nothing from you that indicates you understood the term at the time of your original post.

Our current supply chain existed pre-Covid and it was not a market failure at the time. A series of shocks and government interventions have caused some supply chain disruptions. That is not what Market Failure means. If it were an example the problems we are seeing know would have been present without Covid and any number of market distorting actions taken by government entities.
 
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#223
#223
We literally have zero supply chain issues that I've seen here on the Outer Banks of NC. I'll see if I can find cream cheese next time I go out.

It's a good plan on the part of the anti-Biden crew to gin up a crisis so that people go into a hoarding frenzy, though, right? Pure patriotism there.

*cough*

Given the toilet paper fiasco under Trump, this feels more like the pot calling the kettle black eh.
 
#224
#224
MontyPython said:
We literally have zero supply chain issues that I've seen here on the Outer Banks of NC. I'll see if I can find cream cheese next time I go out.

It's a good plan on the part of the anti-Biden crew to gin up a crisis so that people go into a hoarding frenzy, though, right?
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The supply chain issues in the manufacturing world are not “ginned up”.
 
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