"So far, Biden is batting .000 over 18 months." Total BS. The unemployment rate under Biden is now down to 3.5%.
Yes, I can. Higher inflation is inevitable regardless of how August and September turnout. There is now nothing that can stop it. It's stagflation which is only going to get much worse.
Absolutely: 1. Continue the war on fossil fuels and codify it into law with the passage of the tax and spend act today. 2. Spend like there is no tomorrow because government spending doesn't cause inflation. 3. Raise taxes in a period of stagflation as this has worked in the past. 4. Significantly reduce the US SPR and then lie that this is the start of a new trend in reduced inflation when the US is still running at a 41 year high. 5. If all else fails, just lie and say there is no inflation, no recession, and everything is going to be fine presuming you don't starve to death with climate whackos telling farmers how to farm or get shot to death by armed to the teeth 87,000 person IRS army. On the latter, Joe Manchin says to call him if IRS agents persecute you. Hey Joe, it's too late by then you paid off jerk.
“war on fossil fuels”. War. Really?! Is that just inserting a go-to catch phrase? “The oil and gas industry doesn’t hate the climate bill…..the legislation also contains what some called “Easter eggs” that would benefit oil and gas companies, including access to new swaths of federal waters in Alaska and the Gulf of Mexico. There are some things in there that are helpful to our business,” Rich Walsh, senior vice president and general counsel at Valero, one of the country’s largest fuel refiners, said during an earnings call Thursday with investors. The compromise has infuriated some progressive environmental activists. One such group, the climate organization 350.org, called the bill “a sham” because of the fossil fuel provisions and accused the Biden administration of “engaging in a bait and switch tactic on climate legislation.” 'Easter eggs' in climate bill delight oil and gas industry - POLITICO “Recent second-quarter earnings reports proffered eye-popping figures: BP posted second-quarter profits worth $8.5 billion, its biggest windfall in 14 years. ExxonMobil went one further — its $17.9 billion in net income was its largest-ever quarterly profit. U.S. company Chevron, London-based Shell and France’s TotalEnergies also recorded blockbuster results. Put together, these five major companies made $55 billion this past quarter,” https://www.washingtonpost.com/world/2022/08/08/oil-companies-profits-inflation/
The law actually has some favorable provisions for fossil fuels, such as drilling permit reform. OK you can’t have it both ways. The spending causes inflation and the taxes cause recession? A more reasonable take would be their impacts largely offset each other. What is the purpose of an SPR if not to use it strategically? It is too early to tell if inflation is breaking. Lots of stuff can happen geopolitically and economically. However deficits have been brought down to “normal” levels and interest rates are higher, so much of the demand stimulus that contributed to inflation has been eliminated. This kind of speaks for itself and no response can do it Justice.
Commodities prices continue to decline. Look for inflation to decline throughout the fall, especially starting in October. October was the month in 2021 when inflation took a big jump. So starting in October, the year-over-year baseline will significantly higher. https://www.washingtonpost.com/business/2022/08/13/food-fuel-lower-prices/ Many of the global prices for food, fuel and fertilizer that spiked when Russia invaded Ukraine have returned to their prewar levels, defying the most dire forecasts even as policymakers warn of the continued risk of famine and financial crisis in the developing world. ... Pressure on commodity markets also eased after Wall Street speculators began selling their holdings in response to the Federal Reserve’s interest-rate increases, which made bets on rising commodity prices less certain.
We'll see if that's true, but that's not helping people... not for 2+ freaking years... And it does NOT mitigate the pain and suffering that famailies have endured throughout that time.
Yeah, down nearly 20 cents near me. Down to $3.30(ish). Quite a drop from the $4.70 it was topping out at.
Just hold on to your wallets boys. Refineries are going to start switching over to making heating oil very soon. Summer is mostly gasoline and DF. When they go off line to convert and then come back making less gasoline, we will get another pinch
This happens every year and gas isn't appreciably higher in the fall and winter. Why do you figure gas prices will go up this year because of it when it doesn't go up other years? Just hoping?
Two reasons: 1). World events are driving a crazy speculative market. I think that smaller events will drive higher speculative reactions. I really don’t want to think about an active Gulf hurricane season taking rigs and refineries off line. 2). I think that people are in somewhat of a hoarding mentality these days on critical things. I believe heating oil demand will be high and people will keep their tanks full through the first half of winter at least. Hope I’m wrong
