Biden's Economy?

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Doctor Steuss
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Re: Biden's Economy?

Post by Doctor Steuss »

Cultellus wrote:
Wed Aug 04, 2021 6:48 pm
Sheet metal and iron too.
So even the basic raw materials are tough to wrangle right now? This isn't stuff that we rely on imports for either.

Wowza.
Lem
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Re: Biden's Economy?

Post by Lem »

Doctor Steuss wrote:
Wed Aug 04, 2021 6:45 pm
Lem wrote:
Wed Aug 04, 2021 6:35 pm
That’s what I hear from family members in related industries, too- supply chain issues are really throwing a wrench in the works of recovery.
By chance, have they mentioned specific items/materials -- that you wouldn't mind disclosing?
Yes, specifically mentioned was rare earth minerals used in hvac processes, and also basically any intermediate or end product used in hvac coming from China.
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Doctor Steuss
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Re: Biden's Economy?

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Cultellus wrote:
Wed Aug 04, 2021 6:58 pm
Most sheet metal fabrication is imported now. A lot of iron is imported too.
I learned something new today. Thank you.
Lem
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Re: Biden's Economy?

Post by Lem »

Lem wrote:
Wed Aug 04, 2021 6:56 pm
Doctor Steuss wrote:
Wed Aug 04, 2021 6:45 pm

By chance, have they mentioned specific items/materials -- that you wouldn't mind disclosing?
Yes, specifically mentioned was rare earth minerals used in hvac processes, and also basically any intermediate or end product used in hvac coming from China.
And copper.
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Doctor Steuss
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Re: Biden's Economy?

Post by Doctor Steuss »

Lem wrote:
Wed Aug 04, 2021 7:15 pm
And copper.
On a numismatic note, it's unfortunate that we are so nostalgic about the penny. The US is sitting on a nice small hoard of 95% copper (in the form of pre-1982 cents). Added bonus is the metal content is almost 3x the face value.

Canada started melting down theirs almost a decade ago.
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Doctor Steuss
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Re: Biden's Economy?

Post by Doctor Steuss »

Cultellus wrote:
Wed Aug 04, 2021 7:32 pm
Melt the penny and put Bob Marley on the Nickel.
I imagine if there's a 3-legged buffalo soldier error, it'll make for quite the collectable.


(Edited to add context of my "joke" : https://www.pcgs.com/news/1937-d-3-legg ... -attention)
Last edited by Doctor Steuss on Wed Aug 04, 2021 8:11 pm, edited 2 times in total.
Icarus
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Re: Biden's Economy?

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Cultellus wrote:
Wed Aug 04, 2021 5:51 pm
Icarus wrote:
Wed Aug 04, 2021 5:46 pm
Leave it to Brietbart to call 330,000 new jobs a "disaster." That's more jobs created in any month during Trump's 48 attempts.
Don't let details confuse you, Icarus. Just keep being a troll and only look at things through the Trumpsucks filters. Did you borrow those goggles from Some Schmo?
That was less than half of the 680,000 forecast by analysts, according to Econoday. June’s estimate was revised down to 680,000 from the initial estimate of 692,000.

July’s job growth was the smallest gain in ADP’s estimates since February.

Did you even take economics in college?

Forecasts aren't synonymous with "what it's supposed to be." They're just forecasts, and they're wrong more often than not, and they're adjusted up or down usually a month later.
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ceeboo
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Re: Biden's Economy?

Post by ceeboo »

Cultellus wrote:
Wed Aug 04, 2021 7:32 pm

I could solve this problem by Friday:

Melt the penny and put Bob Marley on the Nickel.


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Icarus
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Re: Biden's Economy?

Post by Icarus »

Doctor Steuss wrote:
Wed Aug 04, 2021 6:22 pm
Glancing through the ADP report, and it looks like over a 3rd of the growth was in fun-time (hospitality/leisure). That seems somewhat counter-intuitive (to me) based on the delta-variant fears.

Also, only 1,000 jobs in construction(?!?). Based on housing alone, I’m having a really hard time wrapping my head around that low of a number. The only thing I can think of is that supply-chain problems are causing a much larger bottleneck than many realize.

There has been a shortage in materials for quite some time now. This isn't really news though.

Between April and August of 2020, the price of lumber literally tripled. It doubled again in May but dropped 40% in June, but we're still at very high prices due to high demand.

Also, there is a labor shortage.
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Re: Biden's Economy?

Post by Icarus »

Cultellus wrote:
Wed Aug 04, 2021 6:58 pm
A lot of iron is imported too.
Not really. USA is responsible for roughly .4% of all iron imports. There are more than a dozen other countries that import more iron ore than we do. China's imports account for a whopping 75%.
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