patrick.net

Al_Sharpton_for_President says

Another uncomfortably high inflation reading for September is likely to keep the Federal Reserve on track to increase interest rates by 0.75 percentage point at its meeting next month.

Not enough.

Market rallied yesterday on rumors they are debating decreasing the rate of rate hikes going forward.

they need to raise it a lot to curb this fucking inflation. they spent trillions of bullshit printed money with Biden, that is inflation and itll keep hurting a lot.

Biden is a faggot ouece of shit. fucking assholes with their socialism for the rich and inflation for rest if us.

They should not raise interest rates; just stop giving away free money because of the "pandemic".
Stop giving welfare queens a raise; they doubled the free money per bastard child during the "pandemic".
The House will likely be Republican and therefore won't be giving so much money away for bullshit like the socialist Democrats do.
Inflation caused by higher oil prices can be fixed but how soon I can't guess. Putin and Biden are responsible for that problem, a pox on them both.
I'm doing my part to fight inflation; I hardly buy any shit but I'm shopping soon for a really big fucking TV so I can veg out with movies on Roku in the evening.
I hope 70" is big enough, I think it is.

clambo says

I'm doing my part to fight inflation; I hardly buy any shit but I'm shopping soon for a really big fucking TV so I can veg out with movies on Roku in the evening.
I hope 70" is big enough, I think it is.

Get one of the LG 77" panels. Or at least an LG OLED panel. They aren't as bright as the fake-LED QLED samsung panels but they have true black and great grey scale. For instance with batman you can see stuff in the alleys you wouldn't otherwise. First night I had mine the screen went black and I had no other lights on. I thought the damn thing broke but no, it was a black signal for a few seconds. Room went completely dark. No 'glow' like other TVs have.

https://www.costco.com/lg-77%22-class---oled-b2-series----4k-uhd-oled-tv---allstate-3-year-protection-plan-bundle-included-for-5-years-of-total-coverage*.product.100979801.html

Wow, they've got them in the 83" range now. I wish I'd bought that instead! Prices are still coming down too. I paid 3.5K for my 77 incher.

Thank you for the TV tip.
I was unaware of OLED vs QLED, etc.

Raising interest rates will not curb inflation at the level of indebtedness America currently finds itself.

Once the Fed raised interest rates at its November meeting, it will have raised them about 3%. With the national debt at about $31 trillion, that's an increase in interest payments from the Treasury by about $900 billion per year. (Yes, I know that the Fed holdings pay the interest to the Treasury, but the interest paid to the Banks for deposits negates this.)

Since the government ain't gonna raise taxes no $900 billion per year or cut $900 billion per year from its spending with a $4 trillion dollar budget, that means it will issue that extra $900 billion in new treasuries. So, it's kinda like the same as doubling welfare payments, but instead of the coin going to the welfare Ho's, instead it goes to the rich.

Sure, a ton of over in-debted corporations will go belly-up, but they were zombie corporations anyways.

On the one hand, higher interest rates mean that the government is also getting squeezed because it cannot borrow as cheaply anymore (thus the new IRS agents, I assume).

But on the other hand, higher interest rates provide the rest of the world with a motive to hold dollars, keeping the dollar the reserve currency of the world.

Patrick says

On the one hand, higher interest rates mean that the government is also getting squeezed because it cannot borrow as cheaply anymore (thus the new IRS agents, I assume).

But on the other hand, higher interest rates provide the rest of the world with a motive to hold dollars, keeping the dollar the reserve currency of the world.

Dollar denominated foreign debt totals about $15 trillion. I am guessing most of that is short term. Once it all rolls over (wishful thinking there because of massive defaults if the Fed don't lower rates again). Well, if rates go up another point bringing the increase to 4%...well that means those in debt would have to come up with an extra $600 billion per year. --- Sucks to be them. When they took out the debt, they thought the dollar would decrease in value against the local currency. ---- Ooops, oh well.

Patrick says

On the one hand, higher interest rates mean that the government is also getting squeezed because it cannot borrow as cheaply anymore (thus the new IRS agents, I assume).

But on the other hand, higher interest rates provide the rest of the world with a motive to hold dollars, keeping the dollar the reserve currency of the world.

new agents to make lous lerner look like a trial balloon. weaponized irs.

Misc says

if rates go up another point bringing the increase to 4%...well that means those in debt would have to come up with an extra $600 billion per year. --- Sucks to be them

Good point. Foreigners who borrowed in dollar terms are fucked because their debt increased dramatically as the dollar rose against whatever local currency they earn.

But any Americans who borrowed pounds or Euros are pretty happy about now.

Still less than 1%. LOOKOUT!!!

NuttBoxer says

Still less than 1%. LOOKOUT!!!

Less than 1% of what?

Newspeak 75 points
Reality 0.75%