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Jysin

Jysin

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This "transitory" shit is getting on my last nerves. We can have 20% inflation quickly and temporarily, then drop back to 0% inflation and it seems the Fed would pat themselves on the back that it was "transitory". No dipshits, we are still 20% higher costs of everything!

Fuck me sideways.
 
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Sanrith Descartes

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Jysin said:
This "transitory" shit is getting on my last nerves. We can have 20% inflation quickly and temporarily, then drop back to 0% inflation and it seems the Fed would pat themselves on the back that it was "transitory". No dipshits, we are still 20% higher costs of everything!

Fuck me sideways.
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It was a political lie. They knew it. We knew it. Everyone knew it.
 
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Gravel

Gravel

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It's technically not a lie. That's what transitory means. That most people don't understand it doesn't matter. The part that matters is they downplayed it like "transitory" doesn't matter. I'd argue it's actually worse.
 
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Sanrith Descartes

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Gravel said:
It's technically not a lie. That's what transitory means. That most people don't understand it doesn't matter. The part that matters is they downplayed it like "transitory" doesn't matter. I'd argue it's actually worse.
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But it really wasn't transitory in the sense they were using it. They were using it to imply it was a very short term thing driven by used cars and a couple of other items, They lied and they knew they were lying.
 
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Shonuff

Shonuff

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Jysin said:
This "transitory" shit is getting on my last nerves. We can have 20% inflation quickly and temporarily, then drop back to 0% inflation and it seems the Fed would pat themselves on the back that it was "transitory". No dipshits, we are still 20% higher costs of everything!

Fuck me sideways.
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Unfortunately, the raises I gave my long term employees wasn't transitory. You can't just lower raises when inflation goes lower.
 
Gravel

Gravel

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The reality is we're probably looking at 20% inflation. We aren't expecting 20% every year (or at least I fucking hope not). Therefore, it's transitory.

It's a stupid distinction because unless you're super rich, it hurts either way.
 
Sanrith Descartes

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My issue is less with the word and more with the issue they were fucking lying and knew it and talked to us like we were fucking idiots.
 
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Shonuff

Shonuff

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Gravel said:
The reality is we're probably looking at 20% inflation. We aren't expecting 20% every year (or at least I fucking hope not). Therefore, it's transitory.

It's a stupid distinction because unless you're super rich, it hurts either way.
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Man, 8% of my business' profit went to gas alone last month (in excess). Some parts are running 400% higher. Labor is higher (gave everyone a 6% raise). I did also raise my prices, but every business is doing this (and more). It's not good for anyone.
 
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Jysin

Jysin

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Shonuff said:
Man, 8% of my business' profit went to gas alone last month (in excess). Some parts are running 400% higher. Labor is higher (gave everyone a 6% raise). I did also raise my prices, but every business is doing this (and more). It's not good for anyone.
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It makes paying debt easier! (for individuals and nations alike)
 
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Big Phoenix

Big Phoenix

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So is the market hoping banks report good earnings with that abysmal inflation report?
 
Sanrith Descartes

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So I am taking a look at CRSP today. I like the technology but had never really looked at their financials. Holy fuck what a shitshow. They had some fuckery in 2019 where it looks like they booked 2 years of income (2020 in 2019). They showed 719k (yes thousand, not million) in 2020 revenue. They dont have a ton of debt but they just keep making new shares to sell to finance operations. And almost a billion spent in 2020 on stock options.

Think I will pass.

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Sanrith Descartes

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File this under stock oddities you rarely see...

AAPL - 0.42% today
FTEC +0.81% today

The odds of this are quite slim.
 
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