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The Origins of Post-COVID Inflation

Discussion in 'Too Hot for Swamp Gas' started by JustaGator, Dec 28, 2024 at 8:35 PM.

  1. slocala

    slocala VIP Member

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    Factor, yes. Singular cause, hell no. Trump tax cuts, Trump Covid spending PPP loans, global Covid spending, China shut-down, global supply chain constraints, etc… this idea of Trump as some master mind is foolish. However, the idea of the OPEC + deal and causation of $2b in Kushner’s bank account is believable.
     
  2. JustaGator

    JustaGator Sophomore

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    I actually work for an oil & gas company - one of the largest in the country.

    You know what they did when Trump handed them their part of the $2 trillion dollars at the beginning of his administration?

    They bought back hundreds of millions in stock - paid for by you and me.

    Now, that was good for me as an employee, because I own their stock, but for the folks who paid for it - the U.S. taxpayer - not a great deal.

    As far as the domestic oil producers going bankrupt, oil & gas is boom or bust, always has been. The majors pick up the pieces from the minors when they fuck up. During COVID my company reviewed the staff and cut all the deadwood to make themselves lean and mean coming out of the pandemic. Probably 15% of our people got let go. Didn't miss any of them.

    Locking in a 2 year deal to cut production in 2020 did nothing for us but raise gas prices through the roof when Biden took office.

    The economy tried to come back quicker, but was hampered by an asinine deal that Trump made which was a major contributing factor to inflation - or do you not remember $4 and $5/gallon gasoline?

    Do you know how many times that oil & gas touches goods moving in a global economy before they make it into your cupboard? Alot!

    All this didn't hurt me much - Good paying job, I work from home, and man our stock went through the roof! Great for me - bad for the people of this country I care about.

    Biden came in and asked to resume production, which Trump could have done earlier, but didn't. Why?

    Because he made another deal for $2 billion dollars for his son-in-law with the Saudis and Russia so they could hurt the US economy and weaken support for the US dollar as the currency for oil trading and Trump could leave a poison pill for the Biden administration. And it worked. Dumbasses bought it.

    That's what traitors do - they work with our enemies to hurt our country - look no further than Trump stealing U.S. national secrets and keeping them in his bathroom to sell to our enemies.

    And people like you re-elected them because Obama's economy carried into the first few years of Trump's administration before he mismanaged COVID - removing the pandemic specialists on the ground in China, eliminating the White House pandemic response team, downplaying it (out of his own mouth) and basically destroying the economy because he couldn't admit failure and he's corrupt as hell.

    These are all just inconvenient facts you try to paper over. I will vote for anyone competent enough to run the country but I see Trump trying to make pedophiles the Attorney General, have unelected co-Presidents, and compromised individuals for Director of National Intelligence. This is what corrupt leaders in third world nations do - they pick people who have compromised themselves so they can be controlled.

    Unfortunately you've been fed propaganda funded by our enemies for so long, you don't know which way is up anymore. Maybe you think to keep your country you have to throw in with them.

    One thing is sure about the folks who are the true patriots who didn't throw in with the Russians and Saudis - we won't forget who supported this shit when it ends.

    I'm sure many of you MAGA supporters have already felt this, with friends or family, who no longer want anything to do with you. This is why!
     
    Last edited: Dec 29, 2024 at 5:05 PM
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  3. gatorpa

    gatorpa GC Hall of Fame

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    Ya seem new here.
    I’m anything but MAGA, and I didn’t vote for Trump in 2024.

    Odd that there have been many discussions about what caused inflation but this is really the first(that I’ve seen) where anyone has suggested Trump caused the inflation by getting the Saudis to cut production during Covid.

    You still ignore all the other things globally and domestically that led to inflation.

    Another point you seem to completely ignore is the massive spike in oil prices when Russia invaded Ukraine. Seems like someone so well versed in the oil and Gas industry would recognize this.
    I guess Trump was behind that too.

    You last post shows you true dislike and obsession with Trump so it makes sense why you would twist yourself sides to blame him (maybe) getting OpEC to cut production when demand CRATERED due to the world shutting down. I guess they all should have just kept drilling, except there was a point it was costing way more to store and drill than it was worth. I’m sure you knew that though. Remember when oil futures went negative. Ya couldn’t touch it.
     
    Last edited: Dec 29, 2024 at 8:41 PM
  4. PetrolGator

    PetrolGator Lawful Neutral Premium Member

    Oil guy here. Some of how he handled the situation contributed, but inflation is a global issue. Fuel costs exacerbated issues, post-shutdowns, but overall global supply chains were disrupted. Food was rotting because places like warehouses were minimally staffed. Manufacturing stalled to a halt. People panic-bought.

    It was more than just hydrocarbon supply. Now, did OPEC F the world and continue to do so? Yup. Are commodity prices directly responsible for post-COVID recovery? Likely. It’s just as likely that when global supply chains stabilized, businesses saw little inclination to lower prices. No POTUS has control over this.

    I roll my eyes when people try to blame Biden for a global issue (that we weathered pretty well, all things considered) and will do the same when Trump is directly tied to the pain.
     
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  5. QGator2414

    QGator2414 VIP Member

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    Some of you are just so miserable. Here is some advice…

    IMG_6280.jpeg
     
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  6. JustaGator

    JustaGator Sophomore

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    I’ve been here for years since the late 90s, Gator43 rumor days for recruiting and all of that...

    The problem is he locked us into a 2 year deal for cuts in 2020 near the end of his term, with terms friendly to our enemies which guaranteed a prolonged recovery from COVID for the next guy, if it wasn’t him, who would get blamed for the mess because he was the one doing the blaming.

    You see people will vote for someone they know is a terrible human being, as long as they claim to support the ideas and beliefs of those same people. Confirmation bias and all of that - especially if that person plays to fears i.e. their lizard brains, the amygdala. That is Trump's entire political vocabulary - fear the "other" and vote for me because I pretend to fear them too.

    First it was Obama was a Kenyan socialist and then it was Mexican rapists, walls, and who was paying for them and now we are down to Haitians eating pets. Weak-minded people eat his shit up because it plays to their base instincts towards "others", which makes him completely comparable to other fascist leaders from world history who are apparently no longer to be named on GatorCountry because it might hurt someones feelings if they are of similar beliefs, I don't know.

    Trump knew he wasn’t getting re-elected after his disaster with COVID, but he could hamstring Biden, prolong the pain and make a comeback off of the mess he created, which he did.

    So between Trump mismanaging the pandemic, which lead to many of the issues that led to inflation along with his frankly terrible deal with OPEC that locked us into higher gas prices than would have been the case if the deal had been shorter, we can probably speak for half of the inflation later experienced.

    Frankly, our leadership is key to the rest of the world functioning properly, we have a lot of power and in the wrong hands it isn't hard to send the planet into a tailspin.

    So Trump is just a bad leader all around, which is born out by his many bankruptcies, lawsuits, and felony convictions - but hey, go ahead and pretend he is Presidential material by all means.

    See where it gets us... last time it was merely a million dead Americans. His isolationist stance for our country means we will fight many wars in the near future as the world goes back to being multi-polar and everyone gets to try to carve out their new empires. Russia is doing it now and China is waiting to see how that one turns out.

    As long as Trump gets paid, I'm sure we can look the other way.
     
    Last edited: Dec 30, 2024 at 1:44 AM
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