OP hasn't been seen since March, is everything okay?

Seth Carpenter, chief global economist at Morgan Stanley
"That this was clearly a shock for markets. If ever there's a time for people who do economic forecasting to be humbled, this is it."

Mona Mahajan, senior investment strategist at Edward Jones:
"This print not only poses a challenge for the Fed but also the broader economy. Inflation was supposed to be moderating but instead we got a print that moved in the wrong direction."

Redstone said:

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Seth Carpenter, chief global economist at Morgan Stanley
"That this was clearly a shock for markets. If ever there's a time for people who do economic forecasting to be humbled, this is it."

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What's shocking to me is how the Dow went down 500 points and is now up by 800 points. That's a hell of a swing. I wonder how many people got caught holding the bag this morning.

This is really bad. My wife - much more interested in the "royal family" than politics and economics - is complaining about it constantly.

That's how you know something political / economic is really bad.

Maybe people are betting on the bad news being good news for Republican control in the coming elections?

Inflation rose 8.2% in September.

Core inflation was up 6.6% at a forty year high.

This was far worse than "experts" predicted.

Serious question now, but what could a Republican controlled House and Senate actually do to fix the issue?

BIG HELP =
- STOP WITH TENS OF BILLIONS for places like Ukraine, literally one of most corrupt places on planet
- DOMESTIC OIL NOW

HumbleAg04 said:

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Premium said:

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Serious question now, but what could a Republican controlled House and Senate actually do to fix the issue?

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End the war on O&G and let the industry pull the country out of a recession again.

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I would agree end war on o&g, but won't Biden be able to prevent that?

Premium said:

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HumbleAg04 said:

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Premium said:

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Serious question now, but what could a Republican controlled House and Senate actually do to fix the issue?

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End the war on O&G and let the industry pull the country out of a recession again.

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I would agree end war on o&g, but won't Biden be able to prevent that?

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Not if congress can get a bill on his desk, but that is a huge if.

No way he vetos something that is touted as an inflation fighter and something that will decrease gasoline prices.

Premium said:

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HumbleAg04 said:

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Premium said:

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Serious question now, but what could a Republican controlled House and Senate actually do to fix the issue?

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End the war on O&G and let the industry pull the country out of a recession again.

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I would agree end war on o&g, but won't Biden be able to prevent that?

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You could end the current battle. The war on O&G is ideological and not practical. The kind of systemic reassurance those companies need to make the right investments isn't going to happen by just recapturing Congress in a single session.

Premium said:

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Serious question now, but what could a Republican controlled House and Senate actually do to fix the issue?

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STOP. PRINTING. MONEY!!!!

They could threaten a bill to put more oversight on the Fed. The Fed would react to protect their autonomy by changing policies.

STOP.SPENDING.MONEY!!!!

Cut a ton of government spending. There is PLENTY of fat to trim.

Sims said:

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Premium said:

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HumbleAg04 said:

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Premium said:

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Serious question now, but what could a Republican controlled House and Senate actually do to fix the issue?

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End the war on O&G and let the industry pull the country out of a recession again.

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I would agree end war on o&g, but won't Biden be able to prevent that?

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You could end the current battle. The war on O&G is ideological and not practical. The kind of systemic reassurance those companies need to make the right investments isn't going to happen by just recapturing Congress in a single session.

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I think a bloodbath in November with exit polls showing most people hate gas prices and inflation will help with that a bit.

Relatively short term investments in O&G would go a long ways, and could be profitable in 6 years. It will take much longer than that to get to where we were during 2018, but some reassurance for the mid-terms would really help.

Inflation WORSE than expected.

Overall CPI: +8.2% y/y
Core CPI: +6.6%
Gas: +18.2%
Fuel Oil: +58.1%
Electricity: +15.5%
Groceries: +13%
Meat, Poultry, & Fish: +7.7%
Milk: +15.2%
Eggs: +30.5%
Baby Food: +11.8%
Airline Fares: +42.9%
Real Average Hourly Earnings: -3%

— Jacki Kotkiewicz (@jackikotkiewicz) October 13, 2022

Premium said:

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Serious question now, but what could a Republican controlled House and Senate actually do to fix the issue?

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For starters, not pass anymore stupid inflationary spending bills.

Premium said:

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Serious question now, but what could a Republican controlled House and Senate actually do to fix the issue?

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2 prong policy.

1. Make government soak up the excess cash dumped in it in the past decade to pay down the deficit (especially now that interest rates are up). Cut spending and do not cut tax revenues but rather close incentive loopholes so everyone pays. Undo what has been done the past three years from spending packages and international boondoggles.

2. The economy has to grow so that existing dollars are chasing after more supply and putting a downward pressure on price. This should be a slam dunk for Republicans: cut regulations, bust unions throttling logistics, keep energy cheap by opening up land again, and stop enabling non-working people to not work.

Winter just beginning in Europe.

Food storages along with energy needs makes a ugly outlook.

Better have stocked up on dry goods even here in the USA.

Inflation Reduction Act

BusterAg said:

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Premium said:

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HumbleAg04 said:

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Premium said:

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Serious question now, but what could a Republican controlled House and Senate actually do to fix the issue?

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End the war on O&G and let the industry pull the country out of a recession again.

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I would agree end war on o&g, but won't Biden be able to prevent that?

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Not if congress can get a bill on his desk, but that is a huge if.

No way he vetos something that is touted as an inflation fighter and something that will decrease gasoline prices.

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HAHAHA!

Every word printed in media will be that the bill is designed to hurt poor people and make grandma/grandpa die painfully.

Most people will think that's what the bill does so him vetoing it "saves the poor" and the Republicans are evil for trying to hurt them.

He can sign it knowing full well it won't be reported as a bad thing but rather as a stand against MAGA Republicans trying to "DESTROY DEMOCRACY!!!!!"...

CDUB98 said:

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Premium said:

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Serious question now, but what could a Republican controlled House and Senate actually do to fix the issue?

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Lightly roll back some taxes.

Significantly reduce regulations.

Gut Green funding.

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And stop increasing spending, and simply get out of industry's way. Especially in the transport sector that would help.

CDUB98 said:

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Premium said:

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Serious question now, but what could a Republican controlled House and Senate actually do to fix the issue?

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Lightly roll back some taxes.

Significantly reduce regulations.

Gut Green funding.

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What's interesting is that part of the reason we had such a big rally today is because reports out of the UK are that Truss will abandon her plan to cut taxes. So, spending is still on the menu over there.

Certainly is a symptom of the Marxist indoctrination.

The idea that government is allowing people to keep more of their money is horrific to all these Marxist neophytes.

CDUB98 said:

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Certainly is a symptom of the Marxist indoctrination.

The idea that government is allowing people to keep more of their money is horrific to all these Marxist neophytes.

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Yep, they are going to move their corporate tax rate from 19 to 25%. She had planned to keep it at 19% but everyone raised hell about it.

So now their citizens get a nice little 6 pt increase passed through to them on top of everything else going on over there.

Ag with kids said:

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BusterAg said:

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Premium said:

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HumbleAg04 said:

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Premium said:

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Serious question now, but what could a Republican controlled House and Senate actually do to fix the issue?

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End the war on O&G and let the industry pull the country out of a recession again.

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I would agree end war on o&g, but won't Biden be able to prevent that?

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Not if congress can get a bill on his desk, but that is a huge if.

No way he vetos something that is touted as an inflation fighter and something that will decrease gasoline prices.

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HAHAHA!

Every word printed in media will be that the bill is designed to hurt poor people and make grandma/grandpa die painfully.

Most people will think that's what the bill does so him vetoing it "saves the poor" and the Republicans are evil for trying to hurt them.

He can sign it knowing full well it won't be reported as a bad thing but rather as a stand against MAGA Republicans trying to "DESTROY DEMOCRACY!!!!!"...

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At some point, when gas prices won't go down, and inflation won't stop, you stop believing the media.

OP after one round with Two Teas.

I do miss the OP's writing style of lecturing we ignorant rabble.

I speculate he was an insurance salesman; those are always the smartest folks. He was all in on no-harm, transitory inflation for nine months and then poof.

DamnGood86 said:

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I do miss the OP's writing style of lecturing we ignorant rabble.

I speculate he was an insurance salesman; those are always the smartest folks. He was all in on no-harm, transitory inflation for nine months and then poof.

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Probably solely focused on whole life policies.