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re: Would we be in a recession under a Trump second term?
Posted on 7/28/22 at 11:02 am to teke184
Posted on 7/28/22 at 11:02 am to teke184
quote:
Would we have had a downturn? Yes, simply due to factors like inflation. Would it have been this severe? No, because Trump wouldn’t have done a lot of the stupid shite Biden did like cancelling Keystone which had a long term negative effect on the oil and gas industry.
Bingo. We have a recession and hyperinflation. Trump policies would have prevented hyperinflation. Gas would be under $2 and food prices would be similar to 2019, if not less
1
Posted on 7/29/22 at 9:19 am to ItNeverRains
quote:
Gas would be under $2
I completely agree any recession under a 2nd Trump term would not be what this one likely is, but that's statement above is one made by someone who doesn't understand supply and demand.
Government COVID lockdowns KILLED demand, causing oil prices (and also gasoline prices as a result) to plummet, along with OPEC ramping up output to try to drive American shale E&Ps out of business. Do you not remember the price of oil going "negative" in April of 2020?
The national monthly average price of regular gasoline has been under $2/gallon five times since March 2005. January, February and March of 2016, and then since that time, the only other two months were March and April of 2020.
Would gasoline prices today be as high as they are now? I'd suspect they'd be a bit lower, but no way would we be sub $2/gallon.
This post was edited on 7/29/22 at 9:29 am
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