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Inflation

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A lot of talk about "stimulus checks" again.
Biden and US states.
wouldn't surprise me at all

about the only way to have a chance at the mid-terms , buy the voters

i guess MMT will now spend all eternity in disgrace after this saga

( but have a plan if the global economy implodes before then )
 
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FAMILY OF 6 FORCED TO LIVE IN A TOOL SHED, LATE RENTS WORSEN, HOUSING CRISIS EXPANDS​




not exactly a source , but probably supporting anecdotal evidence

not to mention stories of US families being financially stressed

( i suspect some states are probably talking about this )
 
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Interesting.. Any source for this?

This will only add to inflation so doesn't make much sense... Unless they're planning to target it to low income earners
When does it need to make sense?
The french government is sending everyone an inflation check😂😂😂
Any y12 kids should know it can only worsen the situation, but when money is meaningless and votes cheap to buy on the children's future....
 
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Interesting.. Any source for this?

This will only add to inflation so doesn't make much sense... Unless they're planning to target it to low income earners
here is an article from Forbes magazine ackonowledging the calls fro more stimmy checks, but argues under the circumstances it will merely fuel inflation.
Though the three rounds of Covid stimulus checks kept many households afloat during the worst stages of the pandemic, there’s little support among lawmakers for another round to address inflation.

Some experts say that supplying consumers with more cash would exacerbate the main cause of inflation: high demand and low supply.

“We don’t seem to have a demand-generation problem today. People (including businesses and governments) are spending robustly, so, we don’t need to pump up aggregate demand,” says Josh Bivens, research director at the Economic Policy Institute.

“Stimulus checks would increase demand,” says Jason Furman, economics professor at Harvard and former chair of President Obama’s Council of Economic Advisers. “At the moment, however, supply is very constrained so any additional demand would just result in higher prices.”

Furman points out that past stimulus checks helped fight economic recession because they were paired with interest rate cuts by the Federal Reserve.

“If the government sent out stimulus checks today, however, it would be fighting the Fed which is raising interest rates to curb inflation,” Furman says, “The result would be increased economic volatility and uncertainty.”

Bivens suggests a better solution would be to focus on resolving supply chain lags. Additional policies that could also help include higher taxes on the rich and corporations, he says, but inflation relief should be tightly focused on low- to moderate-income households.
Mick
 

JohnDe

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FAMILY OF 6 FORCED TO LIVE IN A TOOL SHED, LATE RENTS WORSEN, HOUSING CRISIS EXPANDS​


https://www.abc.net.au/news/2022-08...-creates-housing-crisis-for-workers/101288302

not exactly a source , but probably supporting anecdotal evidence

not to mention stories of US families being financially stressed

( i suspect some states are probably talking about this )


Evidence is starting to show that a lot of the shortages of homes for sale and rental is caused not by a supply issue but because of people owning more than one place for holidays. "..two-thirds of the properties in Robe were unoccupied". Same probably goes for the US.

"I was asked to leave the house I was renting because the owner was going to make a fortune out of selling it on the spot," he said.
"So I happily moved back to Robe.
"But as somebody that owns a guesthouse in Robe and runs short-term rental accommodation for other people, I live in a shed.
"There was nowhere for me to rent, I couldn't buy anything because I'm completely priced out of the market, and you're waiting two or three years for a house to be built.
"I'm right in the middle of how silly this whole thing is."
Rapidly selling investment and holiday homes has contributed to the current rental crisis, leaving workers unable to find accommodation.
The latest census data showed 59 per cent of Robe properties were vacant – the third-highest rate in the country.
"A lot of people have been in a position to own a second home or a third home," Mr Aitken said.

Robe holiday home ownership creates housing crisis for workers

When JJ Aitken returned to his family property in Robe last year to run a short-term accommodation business, he didn't imagine it would be so difficult to find a place to live.

Mr Aitken said there was a lot of irony in his situation.

"I was asked to leave the house I was renting because the owner was going to make a fortune out of selling it on the spot," he said.

"So I happily moved back to Robe.

"But as somebody that owns a guesthouse in Robe and runs short-term rental accommodation for other people, I live in a shed.

"There was nowhere for me to rent, I couldn't buy anything because I'm completely priced out of the market, and you're waiting two or three years for a house to be built.

"I'm right in the middle of how silly this whole thing is."

Rapidly selling investment and holiday homes has contributed to the current rental crisis, leaving workers unable to find accommodation.

The latest census data showed 59 per cent of Robe properties were vacant – the third-highest rate in the country.

"A lot of people have been in a position to own a second home or a third home," Mr Aitken said.

"They have gobbled up everything that's been able to be gobbled up in this town.

"Anybody that I speak to that has a job here, whether it's waiting tables, making coffee, running a shop, cleaning … find it impossible to find a house permanently."

Mr Aitken said it was "really sad".

"I've got good friends that have lived here for over 10 years, that run businesses in town, that are still bumped out of their houses in November or December because the owner wants it for a month," he said.

Choosing Robe for a second home​

But Mr Aitken said the town's vacant property rate had always been high, it was just more noticeable now.

"I can remember being here three decades ago in the middle of winter, and when you went for a walk at night, you could walk down two or three streets and see one or two houses with lights on," he said.

1334&cropW=1999&xPos=0&yPos=0&width=862&height=575.jpg
The high rate of vacant properties in Robe is not surprising to locals.(Supplied: Matt Coleman)

"There are just that many more houses being built in Robe [now], more people choosing to call it a second home, that it looks a lot more obvious, a lot more saturated."

Mr Aitken said the finger should not just be pointed at short-stay accommodation apps like Airbnb.

"Airbnb does account for obviously a decent percentage of short-term holiday rentals in a place like this, but it's definitely not all of it," he said.
"This time of the year, with my business, Airbnb might account for 20 per cent of who I deal with.

"It's the go-to name to blame the situation on but it's definitely not the whole problem."

No solution to be found​

Mr Aitken said it was unusual the small community could not come up with some solutions for the problem.

"People love to talk about what's not working, and someone usually comes up with an idea that sounds pretty sound, or a tangent to go off on," he said.

"I haven't heard a single person come up with a reasonable idea on how to solve this."

But Mr Aitken said something needed to be done to help alleviate housing pressure before it got worse.

"[In a few years] there may be no one here that is going to cook your food," he said.

"There's not going to be anybody here to make your coffee, to serve you at a table, to clean your house, or do any of those things that really equate to a hell of a lot of why you come to Robe.

"What do you do? You can't tell people what they can and can't do with their future and their money and choices.

"This year we saw some restaurants in town close in the middle of January for weeks at a time because there was no one here to serve tables and wash dishes.

"So it's already started, and God knows where it could go."
 
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When does it need to make sense?
The french government is sending everyone an inflation check😂😂😂
Any y12 kids should know it can only worsen the situation, but when money is meaningless and votes cheap to buy on the children's future....

here is an article from Forbes magazine ackonowledging the calls fro more stimmy checks, but argues under the circumstances it will merely fuel inflation.

Mick

Migraineg inducing stuff.

Meanwhile, crypto seems to be falling. ETH down 7% in past 24hrs, BTC down 2%. Might be a possible early indicator for risk coming off globally. Or this is just standard crypto volatility..
Possible down leg starting? Or is the smart play to buy the dip....
 

moXJO

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Interesting.. Any source for this?

This will only add to inflation so doesn't make much sense... Unless they're planning to target it to low income earners
Yes low income earners. Once recession officially hits then apparently there will be more.
There's a couple of ways they are doing it without being officially seen to be doing it. One is:

It may not seem obvious at first glance, but President Joe Biden is still putting cash into people's pockets during a punishing stretch of inflation.

The $1.9 trillion stimulus law that Democrats enacted in March 2021 without Republican support is helping set the stage for another round of relief payments at the state level. At least 18 states including California and Florida have taken that step this year with Congress gridlocked on how to deal with the worst inflation in four decades.

The law set aside $350 billion in aid for state and local governments aimed at preventing layoffs or big cuts to public services. Few strings were attached to the money to guarantee flexibility and it largely amounted to a blank check for states and municipalities. But those fears of job losses and wrecked budgets never materialized, so states spent less than expected. In addition, a spring report from the National Association of State Budget Officers found nearly all states reported pulling in far more tax revenue than originally forecasted.

Now, as Ben Gitis, associate director of the economic program at the Bipartisan Policy Center, told Insider, states are "sitting on a bunch of extra cash" from budget surpluses. A growing number are channeling booming budgets into a fresh wave of checks to help middle and low-income families plug widening holes in their finances.
So fed passes to states who then write the cheques.

They were trying to add $300-400 billion to a veteran bill they are trying to pass (as well) but I don't know the specifics.



 
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A lot of talk about "stimulus checks" again.
Biden and US states.

You guys don't get much, when there is inflation due to a supply chain shortages and increases in money circulation you hand out stimulus checks which adds even more cash to the economy and allows people to avoid work longer and pay more for the goods in short supply which cause wages to go up and participation in the workforce to decrease and the shortages of workers causes more supply chain shortages causing prices to go up which leads to more stimulus checks so the people not working increases supply chain shortages can pay for the fewer goods available........all this has a stimulating effect on the economy.

You feel the stimulation??
 

over9k

But first, let me consult my goldfish
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You guys don't get much, when there is inflation due to a supply chain shortages and increases in money circulation you hand out stimulus checks which adds even more cash to the economy and allows people to avoid work longer and pay more for the goods in short supply which cause wages to go up and participation in the workforce to decrease and the shortages of workers causes more supply chain shortages causing prices to go up which leads to more stimulus checks so the people not working increases supply chain shortages can pay for the fewer goods available........all this has a stimulating effect on the economy.

You feel the stimulation??
You feel an election soon?
 
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You feel an election soon?
Watch this space, Biden is going to lower gov debt by unprecedented amounts, take inflation pressure of every American and usher in a green new world based on renewables.

All thru the IRS.

 
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As another random example, I see that Telstra is now automatically indexing at least some of its pricing to CPI with price adjustment in July each year.

Noting that forms part of the contract such that the contract no longer has a fixed price as such, it's the price you sign up for + CPI.

That's not a new idea as a concept but it's a new so far as Telstra are concerned. It's another example of a business seeking to protect itself and pass through costs to consumers. :2twocents
 
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As another random example, I see that Telstra is now automatically indexing at least some of its pricing to CPI with price adjustment in July each year.

Noting that forms part of the contract such that the contract no longer has a fixed price as such, it's the price you sign up for + CPI.

That's not a new idea as a concept but it's a new so far as Telstra are concerned. It's another example of a business seeking to protect itself and pass through costs to consumers. :2twocents
That is what happened to my plan, it was only $3 increase. Is it even legal to change a contract like that?
 
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You guys don't get much, when there is inflation due to a supply chain shortages and increases in money circulation you hand out stimulus checks which adds even more cash to the economy and allows people to avoid work longer and pay more for the goods in short supply which cause wages to go up and participation in the workforce to decrease and the shortages of workers causes more supply chain shortages causing prices to go up which leads to more stimulus checks so the people not working increases supply chain shortages can pay for the fewer goods available........all this has a stimulating effect on the economy.

You feel the stimulation??
oh i understand what is happening

but in a time of shifting definitions .. do annoyance and disgust now quality as 'stimulation '
 
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That is what happened to my plan, it was only $3 increase. Is it even legal to change a contract like that?
good luck trying to complain to the ombudsman , they can't handle the long-running issues with a different provider

you might find the courts are similarly overwhelmed with legal questions as well ( say about utility companies )
 
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Watch this space, Biden is going to lower gov debt by unprecedented amounts, take inflation pressure of every American and usher in a green new world based on renewables.

All thru the IRS.

Biden is full of gas

inhale at your own risk ( watch out in case he lights it )
 
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