Steve Rattner Breaks Down Why Prices Are Jumping For Everyday Goods 1

Steve Rattner Breaks Down Why Prices Are Jumping For Everyday Goods

 

Morning Joe economic analyst Steve Rattner and Professor Dorothy A. Brown join Morning Joe to discuss inflation in the economy and what it means for consumer prices.
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74 comments

    1. @seth If it walks like a duck…..or in your case a troll, then it probably is, and considering you have said nothing to rebut any of my claims, just semi literate snarky banter which is common with trolls because you have no real argument, no real point to your post except to try to push people’s button but you are not very good at it. I am sorry if you were bullied at some point but this is not the way to try and get your power back. Trolling may make you feel like you are finally getting the better of someone but it is a temporary high that you will keep having to feed until you deal with your self esteem issues. I am sorry your power was taken at some point, I hope you get it back in a healthy way and heal. Take care.

    2. @Lynn Potter I was merely trolling someone I thought was a professional (paid). If you aren’t you sure have swallowed a lot of the bs. Good luck with your namecalling.

    3. @Lynn Potter Look Toots, I am right. Investigations ended without any tangible results, a bust, nothing of consequence. LMAO! So, basically what I’m saying is, exactly what I said. Your attempt to turn my words into something to fit your own narrative is pathetic. My identity has nothing to do with any political party.

    4. ​@MK Self Double down on the ignorance, that will get you far. You do realize there was more than one investigation, right? Since you used the term no tangible evidence I assume you are referring to 2017 and just fyi “found nothing worth pursuing”, is not the same as “found nothing”, however, I went and head and went with your argument and stated so your point was that BOTH sides waste tax payer money? I didn’t turn your words in to anything, if you think they fit my narrative then that is on you. There is a reason me pointing out that both parties are equally wasteful triggered you, maybe you are not as secure with your non political identity as you think. I am for the American people, and any candidate that share those views will have my support no matter the party, sadly, so few have them. Thanks for the debate. Have a goodnight.

    5. @Lynn Potter Your ignorance and arrogance is boring. I stated investigations, plural. I’m not even going to waste my time reading your essay. LMAO! Night night!

  1. But those prices are gonna reverse because of less spending. How do we complete internationally if we are to scared to invest in our own country?

    1. Mountain, it’s hearsay to me, personally, because I can’t comment on it specifically, I don’t know how it will roll out. Once it does, and I know precisely what it encompasses, I will comment. Until then, I won’t.

    2. Russell, I couldn’t care any less what people look like, let’s just get that out of the way first, given that there is what could be interpreted as a barbed suggestion embedded in there. I really couldn’t give a tuppenny hoot, it doesn’t occupy my mind in the way it does with many, many people on the left, day in and day out. Let’s get that out of the way first.

    3. @TheDiamond2009 it’s hard to tell these days. A lot of racism is more social conditioning than morality. When Tucker Carlson says that people are coming over and making the country dirty it hard not to get curious.

    4. Russell, but to the points. I’d agree in principle that lighter regulation for small/medium sized businesses would be more desirable, but it’s not really the way things work out in practice. If you’re operating in a specific sector, it’s rare that tougher regulation can apply to the bigger players, it’s generally unworkable in practice. And of course big corporates wouldn’t allow that to happen, with all of their lobbying power. But I’d agree on principle.

      Perhaps a more interesting argument is tiered corporate tax, as we have historically had in the UK. Lesser rates and other incentives and allowances for smaller companies, to encourage start ups and smaller family businesses. That said, higher rates on big companies only get passed onto the consumer anyway, we all pay in the end.

      I used the expression “spending your way out of trouble” based upon Labour governments in the UK over my life, as shorthand, but really what I mean is that government shouldn’t extend its reach, its important that spending is properly targeted. I don’t know if that’s the case with the $1.9 trillion and what might follow, I just know that Labour governments in my lifetime have just wasted money. There’s an old Margaret Thatcher quote: “The problem with socialism is that eventually they run out of other people’s money.” That’s just my experience, ill-advised spending.

      I probably shouldn’t comment on climate change. I’m going to stop, right here and now. Other than to say there is no issue with finding alternatives, but…..you know the rest.

    5. @TheDiamond2009 I think a lot of your explanation is just capitalism doing what it does. The ability for people to work around systems by moving money or buying political power seems like a huge issue. I find it frustrating that we can come up with a ways to cheat systems rather than make systems that work equitably. It seems like the only time the system changes is when those with the most capital risk loss. And by then millions of poor and working class people have had their lives destroyed. It’s a recipe for collapse unless we find a way to fix it.

    1. @seth Why would I encourage African Americans to vote for a party that has ALWAYS voted against them? That has made promise after promise and done NOTHING to help the black community except people poor and dependent on government assistance to secure their vote, THEN have the audacity to use BLM as a mask to promote their agenda? If you listen carefully you can hear the racist and bigoted undertones, remove voter id laws because “minorities” do not have resources to get an id, its too difficult for them to get one, they dont have access to the internet, nevermind the fact that 73% of african americans support voter id, and borders, I mean think about it, their ancestors built this country with their blood, sweat and tears and now that they have overcame slavery, and ARE american they want to make it so being an american holds so little value that ANYONE can come in and vote with no proof of their legitimacy and profit off of the system they have fought so hard to have equality in? Kinda takes away from it when its given to everyone, legal, non legal, citizen, non citizen? So in response to your comment, absolutely…..my african american family deserve better than to be used as a pawn for votes, african american are america because without the work that was taken by force this country wouldnt be what it is today and it is our birth right. Stop giving your vote to people who refer to you as “super predators”, and say things like black people need to be brought to “heel”, make whatever way you vote, EARN your vote. You make little stupid replies but have no real argument, run back under your bridge little troll, adults are talking.

    2. @TheDiamond2009 the rich will be affected a lot. At least the ones who valued “who you know” over “what you know”

      Their entire survival is people keeping faith in the system and the dollar so they can pay others to do the “work”

      You seem to have diversified what you know with who you know so I wont argue with you. Better have a plan b incase is all.

    3. @Eric then who controls the price of everything? It should be supply and demand, but you clowns just can’t stop buying no matter what the price. 90% of americans give them a dollar, they’ll spend it.

    4. @Polar Opposite No taxes have been raised – YET. I guess they are reacting to the fact it MAY happen. Not if Republicans can stop it.

  2. This is serious we’re on soc sec and just the 2 of us our grocery bill has doubled in the past year. We can’t afford anymore price hikes.

    1. @Rod of course they are. Blue states pay more taxes and red states beg for financial support more.

    2. I don’t know where you’re shopping or what you’re buying, but I’m not seeing this “price doubling” over the last year. Staples I always have on hand are spinach, pork, beef, plum tomatoes, onions, yogurt, cheese, coffee, orange juice, cranberry juice, apple juice and pineapple juice. None have changed at all in price in the last year. It helps to pick up extra when its on sale, but other than that, I don’t know what to tell you. Personally, I think keeping our farmers in business is a matter of national security, and if seniors need SNAP to be able to pay what farmers need to stay afloat (42% of SNAP recipients are seniors), go ahead and apply. It makes sense to subsidize our national food supply.

    1. Those billionaires support democrats, they are not going to be taxed or have some sort of way of getting out of paying, they pay too much in campaign contributions and would not do that if this is the party that is for the people and not for the wealthy. That’s why they are democrats. As an independent I thought the GOP was supposed to be the party of the rich, an impressive slight of hand on the democrats part, well played. We desperately need a third option…..

    2. more important is the land and housing. for 1 thing why should one man own 10,000 apartments in nyc when so many have none. every one needs a home. let the rich stick with Yachts are US”

    3. @Lynn Potter nah. It would be the upper middle. Those people that got the tax cut support the Republicans. And have since sometime in the 20th century.

    1. @Jacob Hinton how is that any of my concern if it’s not me? There is no utopia and there never will be, life is not made to be “fair”. Life just is, everything else is up to choice and discipline.

    2. @JasonDrvmz very well said in your last comment, until people accept this, they will forever be unhappy.

    3. @Polar Opposite Exactly! I still haven’t cashed my last 2 stimulus checks because I don’t need them right now and plan to invest them in some ETFs instead of wasting them on material bs or putting it into savings especially since interest rates are basically zero. Most people don’t realize that everyone has a chance to start from somewhere and grow wealth for the long term.

    4. They have no need to raise wages, the dramatic increase in immigrants will take the jobs that people are not wanting to work because of low wages. There is NO benefit for them increasing minimum wage, the jobs will still be done either way.

  3. Computer prices are probably a bad example, since other factors have played a major role, including:
    i) sudden demand for teleconference-capable hardware as workers and students had to upgrade existing systems and/or purchase additional ones for their households
    ii) reduced manufacturing/production capacity in the overseas tech sector, also due to the pandemic
    iii) the cryptocurrency mining craze’s affect on demand for hardware, resulting in astronomical component pricing spikes in a market already short-supplied for the other reasons listed above

    1. That’s actually a great example. It’s an example as to how shortages in supply versus demand (and what causes those shortages) are a driver of inflation.

    2. ​@Karl Fink, you would be correct if the claim they were trying to support was a purely academic one regarding how supply and demand affect inflation.

      But that was not the context in which the computer prices citation was made. Instead the discussion revolved around pandemic-related financial assistance policies potential impact on consumer prices. And while the money supply is justifiably a cause for concern–though, as they mentioned, to a debatable degree–using computers as an example is deeply problematic for the reasons stated…there’s WAY more going on in that particular sector than just increased access to capital.

    3. @Ed Sanders Actually you’re right. I think by the time I’d gotten to your comment I had ready so many comments not understanding that there are more drivers of inflation than just people simply having more money that I projected a different meaning to the whole video.

    1. Trickle down: guy has 1 billion dollars in his several banks. Same guy got 100000$ in his arms running to the bank to deposit it looses a thousand dollars on the way because of the way he holds it and the people luckily find the loose dollars on the ground

    2. @senile Joe Biden it’s funny to see you deny objective reality.

      And the last year of trumps term was the biggest downturn since the 1920’s lol

      Had the economy rolling…into a qall

    3. @Ryan Syropiatko Yeah because of the bat flu duh Tighten up Homie you’re full of crap

  4. Okay but used car prices jumped because dealerships knew people had money to spend with the stimulus checks(partner works in sales at Carmax), sports equipment went up because gyms closed, furniture cause people are moving due to covid etc. (chicken cause the gop eats too much Chick-fil-A when they’re stressed)

    1. @Magical Frijoles I forgot to mention to you some of the environmental concerns about these battery operated vehicles. First of all there is a concern about forced child labor in some of the countries in which rare earth minerals are needed for the batteries. Secondly we have now seen that recyclers are being inundated I spent vehicle batteries and they have been unable to meet the challenge of recycling. Spent fuel batteries are coming in to quickly.
      If you want to buy one of these things I have no problem with it and I am happy for you if you were happy.

    2. @T. R. Campbell EV sales haven’t been stellar? They have grown 360% in the past five years. I am not really interested in your novella response as I am just responding to you saying no one was going to buy them. People are already buying them and Bloomberg predicts 58% of car sales will come from EV by 2040. California and Massachusetts are banning gas powered vehicle sales in 2035. It isn’t even a debate. It is math.

    3. @Magical Frijoles It doesn’t take much to gain 360% when you start with zero. I believe these things of captured the imagination of some people and a compliant media has been beating the drum for the these things. I’ll get all around the country and I see very few of these things compared to standard vehicles. I believe when we really get into the nuts and bolts, EV‘s are going to not live up to their promise.
      I believe they are fine for short trips around town, to the store, taking the kids to school, running a few errands but the price of these things need to be cut in half. I can buy a used Toyota and do the same thing for a lot less money. And I don’t have to fill the fuel tank overnight.
      If you want to buy the things feel free and I am very happy for you but I believe these things are going to fall flat.

    4. @Magical Frijoles their unit numbers sound reasonable in isolation but they don’t come anywhere near ICE engine manufacturer numbers

      I’m super excited for EVs and hoping some very affordable options are around soon but it remains to be seen how Tesla will be going in 3 or so years when GM , Ford VW, BMW, Hyundai, Mazda,Citroen, Kia, Toyota , Nissan and other HUGE corporations all have ~25 to 30K options in the EV space with decent range

      For now Tesla is servicing a reasonably sized niche

  5. On one hand they want us to have money? On the other hand they dont want us to really have money? Where does the govt get their money in the first place O Yea the people smh!!!! We are shaming our children!

    1. It’s almost as if the rich don’t want us to have money, so if we have more, they’ll take more.

    2. @ BossJD NO! Not unless you wanted the US to become a complete authoritarian neo-fascist state run by a criminally corrupt narcissist that cared nothing for average Americans.

  6. I’ve seen the small items. Seldom noticed go up almost 20+% at Costco gas price is always going to jump around.

  7. In the1970s the wife of Bob Cole President of GM suggested we have pasta on Wednesdays to save a few pennies

  8. The problem with prices, is that after there is no explanation for this initial nflation, producers will keep prices higher as people forget the prevous prices.

    1. There is an explanation. This explanation is true worldwide and it comes from the uncontrolled printing of money and uncontrolled government spending. I have a $2 million Zimbabwe deal with that I paid two dollars for. When I purchase it it took a wheelbarrow load of those to purchase a loaf of bread in Zimbabwe. Do United States is headed in that direction.

  9. Wages must cover cost of living including costs of working — child care and transportation to/from work.

  10. We have a supply chain that’s still recovering, TX, AZ lots millions of crops and there b the Suez block slowed down Subaru.

  11. “Inflation is always and everywhere a monetary phenomenon.” (Milton Friedman regarding Federal Reserve ‘loose/easy money’ policy.)

  12. I remember the 70s, Carter and double digit interest rates. Then Reagan came in and spending went through the roof.

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