The Economy Is Weird Right Now

We’re low on workers and chicken wings.

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The Economy Is Weird Right Now

Job numbers are lousier than expected, supply chains are wrecked across several industries, cargo ships are backed up in ports, and Biden is pulling a Trump by insisting we "buy American." On this Monday's Reason Roundtable, Matt Welch, Katherine Mangu-Ward, Peter Suderman, and Nick Gillespie try to gauge what the heck is happening with the economy right now.

Discussed in the show:

1:09: Lousier-than-expected job numbers, supply chain failures, and cargo ships backed up. Is this all the new normal?

18:52: Workers' strikes in response to vaccine mandates conflict with Biden's pro-union agenda.

36:28: Weekly Listener Question: In regards to our country's budgeting process, when do each of you foresee the proverbial fiscal can getting kicked off the proverbial fiscal cliff resulting in a new fiscal reality being forced on all of us?

48:00: Media recommendations for the week.

This week's links:

• "Inside America's Broken Supply Chain," by David J. Lynch
• "World leaders reach landmark deal on a global corporate tax rate," by Silvia Amaro
• The Declaration of Independents: How Libertarian Politics Can Fix What's Wrong with America, by Nick Gillespie and Matt Welch
• "Biden's labor secretary is stumped by the worker shortage," by Dan Primack
• "Fed to the lions: Jerome Powell's 'taper' chase may cost him his job," by Charles Gasparino

Send your questions to [e-mail]. Be sure to include your social media handle and the correct pronunciation of your name.

Today's sponsors:

• The Princeton School of Public and International Affairs offers three fully funded graduate degree programs that provide students with a policy toolkit and a sound understanding of the disciplines that shape public policies. Princeton's School of Public and International Affairs community is bound together by a commitment to serving the public good. To learn more about the Princeton School of Public and International Affairs, visit spia.princeton.edu.
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Audio production by Ian Keyser
Assistant production by Regan Taylor
Music: "Angeline," by The Brothers Steve

What are we consuming this week?

Peter Suderman

• No Time to Die

Katherine Mangu-Ward

• No One Will Miss Her: A Novel, by Kat Rosenfield

Matt Welch

• The Closer, by Dave Chappelle (Netflix)

Nick Gillespie

• Mailstrom

---

Comments

[Diane Reynolds (Paul.)]

I went to the Rib joint at the bottom of my hill last weekend. Guess what they were out of... and weren't able to even get. Go ahead, guess.

[Priscilla Andrews]

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[KateLees]

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[Vergie D. Greenwood]

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[Elizabeth Kennedy]

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[CE]

No wonder we have supply chain issues.

[buendah]

agree

[MarilynIrizarry]

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[atisang]

https://atisang.com/blog/Persian-Newsletter/P335-Select-suitable-contractor-for-installation-of-natural-stones.html

[Sheena Mason]

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Here what I do…....... VISIT HERE

[Eeyore]

Ribs.

Being out of BBQ sauce would be a crime.

[Diane Reynolds (Paul.)]

Eeyore wins. The rib joint... can't get ribs. Hasn't been able to for over two months! A rib joint! That can't source ribs!

[Utkonos]

Let’s keep on Sovietizing…

[Vulgar Madman]

The cure for socialism is always more socialism.

[Eeyore]

They will eventually cut dry bread into rib shapes and put them in sauce. Tasty, but not the same.

[Vulgar Madman]

Don’t you dare disparage the McRib!

[R Mac]

Don’t you disparage dry bread!

[atisang]

https://atisang.com/blog/Persian-Newsletter/P334-Development-of-building-stone-exports.html

[mad.casual]

Waitresses? /Bible joke

[Patriotic Guy]

Hands wipes?

[ThomasD]

Baby backs, at my local grocery stores are now $7 per pound. Literally double what they were a year ago.

Buckle up, it's going to get a lot worse.

[atisang]

great
https://atisang.com/crystal

[Fist of Etiquette]

I blame the government.

[Utkonos]

Listen buddy, this is supposed to be a libertarian site. You can’t DO that here!

[Eeyore]

I also blame all my shitty neighbors who repeatedly reelect the same motherfuckers into office repeatedly.

[R Mac]

You can repeatedly say that again!

[Francisco d'Anconia]

You seem to be way down this thread. You've lost a step, my friend. We're getting old.

[Moonrocks]

It's not weird at all, this is exactly what stagflation looks like.

[Diane Reynolds (Paul.)]

But if you were born After Twitter, then...

[OpenBordersLiberal-tarian]

If a weird economy is one in which Reason.com's benefactor Charles Koch earns over $5 billion in 9 months, I won't complain. Certainly preferable to the Drumpf economy and its draconian anti-billionaire policies like "border enforcement."

#InDefenseOfBillionaires

[TJJ2000]

"pulling a Trump" LMAO... Reason really has become a lefty-rag.

Ya; blame the Democratic Economy on the previous Republican.

Some B.S. never changes. Depression, Recession, Crashing Economies is well established as a Democratic one so just stop with the 'it's not our fault' 2-year old B.S.

[mad.casual]

Yeah, people have been 'buying American' since I've been alive. The idea that Trump was somehow exceptional is absurd except in the context that believes "Buy Chinese" to be good/the norm.

[The Encogitationer]

Buying 75% American. FTFY

[Libby Terry-Ann]

More and more local restaurants around here are changing their hours to much shorter times and even closed 2-3 days a week.

[Eeyore]

Same.

[CE]

Around here very few restaurants survived the lockdowns, unless they had a drive-through.

But there's still plenty of people with money (or easy loans) to try some new restaurant in the same spot. Hopefully Newsom won't shut them down when we get our next surge in November like last year.

[Dillinger]

>>Is this all the new normal?

jeebus you fucking people ...

[Utkonos]

I hadn’t seen your comment before I posted mine below. Glad someone else finds that maddening…

[Dillinger]

word.

[The Encogitationer]

How many "New Normals" have we been through since the first time I heard that term when Obama got into office?

[Nardz]

You're a fucking moron

[Mother's Lament]

The Economy Is Weird Right Now

*World Economic Forum cackles and rubs it's hands together*

"Welcome to Agenda 2030, chumps"

[A Cynical Asshole]

"You'll own nothing and you'll be happy. Or else."

[Vulgar Madman]

Not being able to ban guns is going to be a factor noted in their downfall.

[Eeyore]

The green new deal. Continued wealth for the elites. Poverty for everyone else.

[Vulgar Madman]

We took the exit to “The road to serfdom”

[Eeyore]

A shit place to visit. A nightmare of a place to live.

[The Encogitationer]

Let's hope it has lots of speed bumps and the Statists are driving low-riders.

[Patriotic Guy]

Better a million marxists die than the prosperity of one American be threatened.

[Sarah Palin's Buttplug 2]

6% GDP, 4.8% UE, USD strong at 94, inflation near 2% annual target, low interest rates - 3% on 30 year. Oil at $80/bbl.

All good for now.

[Vulgar Madman]

What drugs are you currently abusing?

[JesseAz]

Should ask him about the kids he is abusing first.

[Vulgar Madman]

That is a thing with the power mad isn’t it?

[Sarah Palin's Buttplug 2]

It is all reported in the Wall St Journal.

But according to wingnut.com the economy is falling apart. They don't use numbers or facts. They base that claim on the party of the POTUS.

[Diane Reynolds (Paul.)]

No, they don't measure it on how much a shady trader made on credit default swaps, they measure it on real world factors.

[Sevo]

turd lies. It’s what turd does. turd is a pathological liar, entirely too stupid to know that he is and that everyone else does. turd gets called on lies, but repeats the same one a day later; he’s also too stupid to be embarrassed.
If something turd posts is not a lie, it was a mistake.
turd lies; it’s what he does.

[Mother's Lament]

Where's your link so we can all point out how you lied about what's in it.

[Sevo]

Hey, it's in Wally! One number from a late July issue, another from Dec. '20, one from sometime in 2019!
Slimy bastard is a liar and nothing but.

[OpenBordersLiberal-tarian]

Don't forget the most reliable indicator of economic health. The one you relied on throughout Obama's Presidency to prove he created the strongest economy in US history.

I'm referring, of course, to the WBNWI (Warren Buffett Net Worth Index), which is up almost $16 billion this year.

#VoteDemocratToHelpWarrenBuffett

[Sevo]

turd lies. It's what turd does. turd is a pathological liar, entirely too stupid to know that he is and that everyone else does. turd gets called on lies, but repeats the same one a day later; he's also too stupid to be embarrassed.
If something turd posts is not a lie, it was a mistake.
turd lies; it's what he does.

[The Encogitationer]

Except the Consumer Price Index doesn't account for the price of energy and food, you know, the things that are skyrocketing in price and that mean life or death.

[CE]

annual 2% inflation? I think you mean monthly.

[A Cynical Asshole]

We’re low on workers...

Are we really low on workers, or are we just low on people willing to work?

[Weigel's Cock Ring]

Yes.

[Diane Reynolds (Paul.)]

Yes. Half were fired, the other half won't return.

[Utkonos]

“Is this the new normal?” *SIGH. Et tu, Reason? Et tu?

[ThomasD]

You must be new here

[ElvisIsReal]

Everybody in WA is hiring but nobody wants to wear a mask for 8+ hours a day at work unless they have to.

[The Encogitationer]

The Economy Is Weird Right Now
We’re low on workers and chicken wings.

IS THIS A CHICKEN JOKE?!?!?!?

Chicken Joke Wall--<Rowan & Martin's Laugh-In
https://youtu.be/8hhpHGj6wls

[The Encogitationer]

Rowan &Martin's Laugh-In. You Bet Your Sweet Bippy!

[Don't look at me!]

Look that up in your Funk and Wagnals

[The Encogitationer]

Sock it to me! Sock it to me! Sock it to me!

[Sevo]

We have allowed the government to manage the economy for the last year and a half.
Anyone who has read the history of the 20th century would easily predicts (as many of us did), that the government would fuck up the economy.
Government-managed economies are ALWAYS fucked-up, Always and everywhere.

[Vulgar Madman]

Most people don’t know what happened last week.

[CE]

yeah, but it's on my DVR

[Eeyore]

And throughout all of time and space.

Except fantasy land. Works ok there.

[CE]

Thomas Jefferson predicted it in the 19th century:

Were we directed from Washington when to sow, and when to reap, we should soon want bread.

[gay]

I have lots of extra eggs!

[Vulgar Madman]

Plenty of middle aged women want those.

[The Encogitationer]

Make lots of omelets and casseroles or they'll accuse you of being a Kulak Wrecker Hoarder.

[Utkonos]

Well, you can’t make an omelette without state violence…..or something like that….

[Titus PUllo]

Lets see..print a ton of money and pay people to stay home and not work..oh yea and prop up unproductive sectors like govt, defense, education....sort of makes you wonder why anyone buys into Keynes and his bullshit? Oh yeah the public sector elites and the grifter govt contract sector...

I had a debate via email with a WSJ writer who was defending inflation and the fed..he started to go on about "aggregate demand" and I had to ask what is going on at the WSJ..

Let's go Brandon

[Don't look at me!]

Fuck Joe Biden

[Eeyore]

Always interesting how those who produce nothing never seem to suffer.

[JeremyR]

Nobody has to do any real work. Or wants to.

You have people paid to stay home. You have "content creators" who do nothing but film themselves doing things and make money via ads

You have those in politics, either those working for think tanks or nonprofits that basically do nothing, but subsist by funding from billionaires and the gullible that donate to pledge drives. Or government workers, who generally do very little

So you have basically a lot of parasites leeching off the work of a small amount of people, who have apparently decided "Screw this" and have stopped working

[Liberty Lover]

Low on workers, not on population. Seems there are disconnects.

[Carl Cameron]

Jerome Powell is likely going to be replaced with MMT aficionado Lael Brainard.

[Titus PUllo]

National divorce sounds better and better. Red States and red counties that can either adjacent to or connected to Red States (think western Washington, most of Cali, Oregon, Western NY, Western PA leave. Fort Knox is in KY..start a new currency backed by gold..and simply repudiate the Federal Debt as it is the Blue States concerns. keep the military assets in Red States and since a 100 year free trade agreement with the UK, Eastern Europe, China. Give five years for Americans to chose their State and then lock down the new borders.

[The Encogitationer]

Wait, does Fort Knox even have Gold anymore? Curiously, I haven't heard colloquialisms about "all the Gold in Fort Knox" in decades.

[Luara]

She has been over weight but last month she started to take these p new supplements and she has lost 40 pounds so far.

Take a look at the site here………. http://www.FitApp1.com

[RandyGoldy]

I believe that we need to support good stores because they need support in difficult times like now, when the economy is in bad shape. For example, I like to drink a lot of coffee, so I always try to buy it from this web resource. This online coffee shop is perfect for me because the delivery is always a few days.

[bocsci2018]

where can I buy Hela Transfection Reagent
https://transfection.bocsci.com/product/hela-transfection-reagent-338850.html
The Hela cell line was, the first immortal human cell with indefinite viability in vitro established from cervical cancer cells, and contributed to major medical breakthroughs,