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As Lumber Prices Fall, the Threat of Inflation Loses Its Bite

Tahuyaman said:
That's a real dumb accusation. Why would anyone be desperate for an economic disaster?
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Because the only thing that matters to you is making Biden look bad in an attempt to make Trump look good.
 
Tahuyaman said:
How am I doing that? Because I say inflation hurts those who can afford it the least?
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Naw, you've spent the entire thread predicting doom and then wanking over it.
 
jpn said:
The housing-and-renovation boom drove insatiable demand for lumber, even as the pandemic idled mills that had already been slowed by an anemic construction sector since the 2008 financial crisis. Lumber futures surged to unprecedented heights, peaking at more than $1,600 per thousand board feet in early May.​
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But since then, the prices of those same plywood sheets and pressure-treated planks have tumbled, as mills restarted or ramped up production and some customers put off their purchases until prices came down.​
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It’s a dance of supply and demand that has reassured many experts and the Federal Reserve in their belief that painful price spikes for everything from airline tickets to used cars will abate as the economy gets back to normal.​

Key paragraph:
“Many of the extreme price spikes we’ve seen in recent months are likely to reverse for Econ 101 reasons,” said Jan Hatzius, chief economist at Goldman Sachs.

Good ol' "Econ 101." The rock against which ideology and wishful thinking smashes into bits.
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No matter what you do, you can't spin constantly rising prices. As long as you keep on adding multi-trillion dollar spending packages onto the debt and driving up costs through being anti-business and pro-climate change, prices will continue surging unabated.
 
Tahuyaman said:
It's more an issue of supply and demand.
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There is A LOT that goes into the price of a good. That’s why I put in (everything else being equal). There’s also quantity supplied, quantity demanded, price of substitute goods, if the food is a luxury or inferior, etc…

Income is another factor.
 
Luce said:
Naw, you've spent the entire thread predicting doom and then wanking over it.
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There's another odd trait of liberals. They seem to think those who oppose their ideas want an economic collapse or crisis. It's almost like they think this collapse would not hurt everyone, even the peolple who oppose thier ideas. The think that way on several issues.


They say conservatives want everyone to breathe dirty are and drink poisonous water as if we breathe different air and drink diffence water.


This crazy idea they have that conservatives want an economic crises so they can blame a Democrat president is an example of projection. That's what they do, so they think everyone is just like them.
 
Airyaman said:
It isn't when the article highlights what I am talking about. Often people won't believe what you are saying unless you present some external source to back what you are saying. That is why I am doing. Don't believe me? Then perhaps you'll believe someone more knowledgeable than me.
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This is a debate forum. If you want to highlight what parts of the article you agree with and explain why you agree using logic and facts... that's one thing.

But you are attempting to hide behind an article within the context of this discussion with a long standing member of this forum who is very knowledgeable on this subject.
 
highroller said:
Then they just have a 2% inflation target for ????

Is it just kicks and giggles?
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They want to ensure that an economy continues to thrive. They don't want constant inflation. They would like steady growth. They try to keep inflation low. For several years, until now inflation was nearly nonexistent.

Sometimes we go into a period of deflation in certain sectors.
 
Tahuyaman said:
That's a real dumb accusation. Why would anyone be desperate for an economic disaster?
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It's political.

I have little doubt there were motivated partisans on the left who wanted the economy to crash during the Trump administration, just as there were so many on the right hoping the economy crashed during the Obama administration.

Take a look at the threads regarding the economy. Every Trump supporter is over-emphasizing inflation, deficits, and debt, even though GDP is growing near a record pace.

If real GDP grows by 6% or more for calendar year 2021, it spells doom for the GOP's attempt to retake the legislature.
 
Kushinator said:
If real GDP grows by 6% or more for calendar year 2021, it spells doom for the GOP's attempt to retake the legislature.
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I don't believe that. The GOP is the master of campaigning. They control the legislatures that are drawing the districts and will control Washington for the next ten years.
 
In order to understand economics, one must go deeper than just reading partisan talking points. Economics is a fairly complicated subject.

The problem is that peolple who a highly partisan in nature close their mind to the issue when reality doesn't fit their agenda.
 
Kushinator said:
It's political.

I have little doubt there were motivated partisans on the left who wanted the economy to crash during the Trump administration, just as there were so many on the right hoping the economy crashed during the Obama administration.

Take a look at the threads regarding the economy. Every Trump supporter is over-emphasizing inflation, deficits, and debt, even though GDP is growing near a record pace.

If real GDP grows by 6% or more for calendar year 2021, it spells doom for the GOP's attempt to retake the legislature.
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I don't believe you can over-emphasize massive debt. No one is overemphasizing inflation either. We've been through a long period of time where inflation has been nearly nonexistent. Unimaginable spending and the recent abuse of power nearly destroying an economy is going to cause economic problems which will take many years to fully recover from.

The 4th quarter of 2020, economic growth was over 33%. That certainly didn't rescue those who had been destroyed by the abuse of power which started early last year.
 
highroller said:
I don't believe that. The GOP is the master of campaigning. They control the legislatures that are drawing the districts and will control Washington for the next ten years.
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It won't matter if the economy booms. You'll see record turnout as the country moves past a pandemic and deep recession. The GOP has no policy stance other than to obstruct Dem's, and that's not enough to sway independents.
 
There are going to be thousands of recent home buyers experiencing remorse when they see the house next door in their subdivision selling for 20 grand less than when they closed.

Gonna leave a mark!
 
RetiredUSN said:
There are going to be thousands of recent home buyers experiencing remorse when they see the house next door in their subdivision selling for 20 grand less than when they closed.

Gonna leave a mark!
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$20,000 less is a drop in the bucket when you're buying $400,000 homes.
 
Tahuyaman said:
I don't believe you can over-emphasize massive debt.
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And yet you and your fellow cultists do it every day.
Tahuyaman said:
No one is overemphasizing inflation either.
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This is basic. The U.S. economy will not have double digit nominal GDP growth without inflation of about 3%-4%... it just doesn't work that way.
Tahuyaman said:
We've been through a long period of time where inflation has been nearly nonexistent.
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Long run estimates of inflation, and GDP growth are basically 2% given our demographics and income distribution.
Tahuyaman said:
Unimaginable spending and the recent abuse of power nearly destroying an economy is going to cause economic problems which will take many years to fully recover from.
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Bullshit
 
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