Consumer Sentiment Hits Lowest Level In A Decade

[AlterErgo]

I wonder why

 

[Champakian]

I saw in another thread that it has nothing to do with printing money/inflation.

Apparently, those are just urban myths...

 

[AlterErgo]

and nuthin to do with Bye Dumb and BlackEmhoff

must be

the MEAN TWEETS

 

[bellisarius]

I saw in another thread that it has nothing to do with printing money/inflation.

Apparently, those are just urban myths...

Printing money is just part of it.

After Nixon took us off the Gold standard the dollar went on a roller coaster ride. So along about '77 we made a deal with the OPEC states, we'd provide military security and in return they'd only accept the dollar as payment. So for all intents and purposes we went on the Oil standard. Demand for the dollar became strong and this gave the Fed. "permission" to print as much as was needed by the world economy.

Fast forward to this year. Biden indicated that "we don't have your back anymore." So the OPEC states were relieved of having to take only the US dollar as payment. Now they can trade in whatever currency they choose to accept. This has created a huge surplus of dollars on the world stage which has the effect of seriously reducing the value of the dollar and that translates into inflation, BIG inflation.

And after pulling that stunt Biden starts crying for the OPEC states to pump more oil? Absolutely delusional.

 

[Champakian]

Yes. It sounds counterproductive to cause great harm to our domestic energy production
only to ship it in from ports worldwide. Transportation costs, accidental spills
and being held energy hostage by people who dislike us and
disapprove of our way of life...

It's the Red Green show.

 

[JohnnySavage]

Its a good excuse to not buy any Christmas presents! Save me the $50 I usually spend.

 

[Champakian]

That much?

 

[JohnnySavage]

I have a dozen or so people I feel obligated to buy for.

 

[Champakian]

I like those cards with the oval cut in to display the President's picture...

 

[JohnnySavage]

A portrait of George Washington for everyone!

 

[Champakian]

Grant is my go-to.

He kicked the South's ass...

 

[JohnnySavage]

Last year I gave my lay-a-bout sister a $20. I told her she could turn it into $200 if she put the 20 in the gas tank and went to work.

So I was the asshole, again.

 

[Champakian]

Tough love...

 

[Sean Renaud]

You wonder a supply line problem stretching the globe is lowering confidence? There is a part part in my washer/dryer that busted and I can't get. If it don't get here by Thanksgiving I swear I'ma cancel. Fuck that craziness. Gives me a new appreciation for what my grandparents went through. They loved us more than I love life. I father die, and not one of those quick bullet to the head ones either than do all that. Holy fuck.

I kinda hope that Republicans are correct however. If Biden or his handlers are able to control the economy to this degree X-mas might still suck but around. . .June of next year everything will turn this around Interest will drop to zero and we'll gain seats in both houses. So I hope like hell that like He-Man we have the POWAH!!!!

 

[Bud_Spencer]

Don't worry, as with Obama before him, Dementia Joe will strangle the recovery in its infancy. We all know this, hence the low view of the future.

 

[bellisarius]

I wonder why[/Q

Why do you wonder why? A pandemic is coming to an end. There is a global supply chain problem. A lot of money that WOULD go into just entertainment and cycling around is being spend on the few large items out there. The stimulus was to much too late but whatever.. None of this should be considered surprising

Oh you thought super kami guru Bidenw wa responsible for a lot of this?

You only wish.