@bi4smooth I have. My brother-in-law is an architect, and some people in my family sell residential real estate. From the articles we have read it seems a lot of the price increases have been from rich foreign buyers and multinational corporations buying houses en masse to rent them out. I don't think it has affected my area of the country too badly yet.
I was on a call with my BIL and his doctor a few days ago and when the doctor found out he was an architect he started talking about housing. He lives in Orange County, California and he said houses there are selling for 20% over asking and being paid for in cash so he is having trouble buying a house. That's not something the average American can do. Well in this case not even a well-off specialist can afford to do that.
@bi4smooth said in Biden: "“It’s time we remembered that ‘We the people’ are the government.":
until the early Obama years (which they claim didn't happen because the banks "swallowed" the huge cash infusion instead of putting it "into" the economy).
lol, I would claim we didn't have inflation problems because we were going through a large deflationary event and were hemorrhaging jobs. It's a bit hard to cause inflation while that is going on. That stimulus could have quadrupled and I doubt we would have had any problems.
The last PHD I talked about this in any depth with was the Dean of Gies business school. He was telling me about how large deficits are bad and it was going to make dogs and cats live together, mass hysteria. Then he sent me a paper from the brookings institute to read claiming that, and I'm paraphrasing "This isn't a partisan issue. Even lefty economists agree with this." He said that because I'm obviously on the political left and I guess he thought that if a leftist said it I would believe it.
I read the paper. I think it came out in 2003, and every prediction it made was wrong. It is now 18 years later and nothing in it has come true. I was like dude none of this shit happened and his reply was "Just wait." It's been 18 fucking years dude c'mon. All the paper did was reiterate to me that economists don't know what they are talking about and neo-liberal think tanks that push out bullshit papers aren't to be trusted.
About the cars I can't comment on that at all. I know nothing about cars. If I had to speculate I would say that possibly could be caused by excess demand if production slowed during the pandemic.
My cousin works at GE and they are running behind on appliance orders. If I'm remembering correctly, and I might not be because this conversation was a while ago, he said they usually try to keep production to where they need to make 4000 units, but at the time they were behind by 80,000 units.
I'm super tired and this post got really long, but I'm not going to go back over it and see if it makes sense. I'm just going to hit submit and hope for the best. Have a good night!.