Quote:
Originally Posted by jimbomaybe
I am curious as to what you think the government should have done "quicker" "better" ?
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I will answer that one because it is so easy. Even though he said it "in hindsight" I can point to many Facebook posts I made and friends I told a year ago. I lead the Supply Chain at a large corporation (in the S&P500). At the beginning of 2021 I saw inflation, and started to call on The FED to raise rates, and the government to stop ALL subsidies. When the FED said it was transitory, I said it was not, and they should raise rates. When the Federal Government started its war on oil, I said this would end badly. Well the chickens have come home to roost. Inflation is RAMPANT. I spend all my days discussing price increases with suppliers - This week - Nylon, Polypropolene, Corrugate, plastic packaging, and drawer slides and the week is just getting started. Thes price increases are round 4 by my count and will not hit consumers until the second half of this year. Labor and Oil are the cost drivers. All those kids you people raised trying to be their friends don't want to work, and we want to go beg everyone else to produce more oil instead of working with our domestic industry. The solution?
1. Raise the Fed Funds rate by 1/2 percent this month, and by 1/4 every month going forward.
2. Unlimited drilling leases and restart the Keystone XL pipeline.
3. Fast track the 6 other new pipelines for Gas and Oil that regulators are sitting on.
4. Go back to the Clinton era regulations on Welfare and make everyone work.
5. Cut back US government spending by 10% immediately.
6. Open up LEGAL immigration to 5 million legal immigrants from Central and South America a year with a clear path to citizenship - you work for a company in the US with a clean work record for 10 years, pass a US history and English test and we make you a citizen. NO ILLEGALS get citizenship. They have to go back and get in line. We need workers BADLY and this would give them to us.
The solution to this is simple, but the Federal reserve and the President are not willing to do it, so my suggestion is buy real estate, stocks, and commodities. Also wait until 70 to take your Social Security, but that was a no brainer before this. It is the best inflation protection you can buy.
BTW- I tried to stay away as much from Politics as I could here by offering direct solutions. I really don't care what party it is, something needs to be done.