Americans are finally starting to get relief from inflation, but that reprieve may be short-lived if imports from Mexico and Canada come under fire.
intercst
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Thanks for the gift link.
Regarding inflation, Treasury Secretary nominee Scott Bessent said:
âTariffs canât be inflationary because if the price of one thing goes up, unless you give people more money, then they have less money to spend on the other thing, so there is no inflation,â he told Larry Kudlow on Saturday. âThe inflation comes through either increasing the money supply or increasing the government spending, and thatâs what happened under Biden.â
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I guess inflation does not exist at all, then, if that is the way it works in the real world. (Tell me that âquoteâ was from the Onion, right?)
Pete
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Sadly it was from the linked WaPo article. It keeps getting harder for The Onion to make just barely believable stuff up.
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What one would call a personal opinion.
Bessentâs pedigree as a global investor who has worked with legendary money managers, and his history of supporting both Republicans and Democrats, have eased the worries of business leaders â and financial marketsâŚ
âThereâs huge relief,â said Jeffrey Sonnenfeld, founder and president of the Yale Chief Executive Institute. âBessent is reasonable and pragmatic.â
DB2
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Could he also know to tell the boss what he wants to hear, regardless of facts?
Steve
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That would be the Kudlow that complained about being forced to drink beer made from plants?
SteveâŚlearned, early on, to never say anything you did not want getting back to your bosses ears
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Who is the âheâ youâre referring to? Sonnenfeld doesnât report to Bessent or TIG.
DB2
Bessent, in the snip Pucks posted, saying words to the effect if the Proles are starved, there wonât be any inflation, because they canât buy much of anything. TFG wants an excuse to do what he wants to do. So he hires bootlickers that tell him there will be no downside to his plans. Typical âJCâ. I remember, on the last go around, one of the semi-competent people, who had been fired/run out of the administration, said he told TFG, as he went out the door âdonât hire another yes-manâ. But of course he will, because that is what âJCsâ do.
Steve
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Ah, the net is a wonderful thing. From 2019.
Typical âJCâ, like the honchos I saw in action, as they ran their companies into the ground.
Steve
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Isnât that a prime requisite for a Wash DC sycophant?
example-George Tenet-âSlam Dunkâ Iraq WMD
Whiny George wrote a book that his comment supposedly wasnât about the intelligence itself but about the ease with which the public presentation of the intelligence could be strengthened.
Ah isnât that a distinction without a difference. We, the government, can manipulate the goobers at home to support what we plan to doing. Another foreign adventure.
It certainly was a requisite in many of the companies I worked for. One day, the RS District Manager, in the monthly store mangerâs meeting, was praising the companyâs âopen doorâ policy. Derisive laffter swept the room. The DM said âdonât you believe in the open door policyâ. The gathered managers chorused âNO!â, because we had all seen the reaction when anyone said anything that RS President Bernie Appel didnât want to hear (grossly overpriced product, for instance)
Steve
I dunno, had to buy eggs today and the price appears to have doubled over the last 2 weeks!
I had the opposite situation where I live - I was expecting to pay $3-4 for a dozen and they were on sale for $1.99!
Pete
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Thankfully, there is actually data for both of you on this point:
Eggs have indeed been going back up this year. Up over 50% since October of last year.
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On eggs, bird flu seems to be a problem. Some flocks have been infected and destroyed. Not sure if the problem is continuing or resolved.
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