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Started By
Message
re: CNBC: Fed again approves 0.75-point hike in response to rapid inflation
Posted on 11/2/22 at 2:33 pm to MrLSU
Posted on 11/2/22 at 2:33 pm to MrLSU
quote:
Biden's hard-line stance on getting rid of fossil fuels overnight what is causing this inflation.
And their insistence on printing and spending trillions of dollars, with that money generating very little in the way of goods or services (the very definition of inflation...too many dollars chasing too few goods). They would spend more if they could and will if they maintain control of congress. It's literally a battle between the Dems and the fed and we all pay the price.
This post was edited on 11/2/22 at 2:34 pm
0
Posted on 11/2/22 at 2:35 pm to hubertcumberdale
quote:
The US is currently producing more crude oil than any other country in the world
Still down 1,000 MBbls per day from our peak and the rest of the world seems to be down on production as well.
Posted on 11/2/22 at 2:36 pm to bad93ex
quote:
Still down 1,000 MBbls per day from our peak and the rest of the world seems to be down on production as well.
We were over producing prior to covid, due to the advent of shale oil, which absolutely crushed prices for the last ~7 years (since November 2014). Oil hit -$40/bbl April 2020
This post was edited on 11/2/22 at 2:38 pm
Posted on 11/2/22 at 2:39 pm to hubertcumberdale
quote:
The US is currently producing more crude oil than any other country in the world, so not sure Biden's stance really made much of a difference to US producers
Two questions...
1) Do we have enough oil now? (we all know this answer)
2) Do you think that the actions taken by the current administration have lead to us extracting as much as we possibly could to meet our domestic demand and that of our allies?
And the Trump oil production forecasts were for way more than we're currently doing and will be doing in the next few years.
Posted on 11/2/22 at 2:41 pm to hubertcumberdale
quote:
We were over producing prior to covid
And topping off the SPR, which Biden should be thanking Trump for, as it allowed him to decimate it trying to score some political points before the midterms (with little/no success).
Posted on 11/2/22 at 2:42 pm to hubertcumberdale
quote:
The US is currently producing more crude oil than any other country in the world, so not sure Biden's stance really made much of a difference to US producers
Now show me the other fossil fuels because the last I checked crude oil does not look like natural gas, coal, etc.
Posted on 11/2/22 at 2:43 pm to Chucktown_Badger
quote:
1) Do we have enough oil now? (we all know this answer)
Like today? a year from now? 5 years from now? 20 years from now?
quote:
2) Do you think that the actions taken by the current administration have lead to us extracting as much as we possibly could to meet our domestic demand and that of our allies?
Oil prices have been in the shitter for the past 8 years. Many many companies went bankrupt. Do you expect all these companies to forget about the past and drill bc prices are currently high today? Or are they more forward looking?
What did Obama do in 2014 to tank the oil market? Or was it everything to do with technological innovation increasing supply in the oil patch and wall street pumping money into in as fast as the could from 2009 - 2014?
ETA: what the market currently thinks WTI prices will do. Spoiler, artifically high prices coming back to pre-covid levels
This post was edited on 11/2/22 at 2:56 pm
Posted on 11/2/22 at 2:44 pm to Proximo
quote:
Democrats created this inflation mess
Jesus man. Who was President in 2020 when things shut down and rates plummeted? Who was the first president to sign off on the free money everyone is bitching about?
Posted on 11/2/22 at 2:45 pm to CoachChappy
quote:
Good! The interest rates have been far too low for far too long.
While this is true, it isn't clear that this will address worldwide inflation, which is higher in almost every other country.
Posted on 11/2/22 at 2:45 pm to upgrayedd
and handcuffing the fossil fuel industry
Posted on 11/2/22 at 2:49 pm to Dire Wolf
quote:My 2% 15 yr mortgage says otherwise
dropping rates in 2020 turned out to be a disaster
Posted on 11/2/22 at 2:50 pm to PureBlood
Dude a two piece at Popeyes is 11$. What in the actual frick is going on in this world.
Posted on 11/2/22 at 2:53 pm to MrLSU
quote:
Now show me the other fossil fuels because the last I checked crude oil does not look like natural gas, coal, etc.
not sure what point youre trying to make
Posted on 11/2/22 at 2:56 pm to member12
no crawfish price replies?
Posted on 11/2/22 at 3:04 pm to MorbidTheClown
Great Depression #2 incoming!
Posted on 11/2/22 at 3:06 pm to member12
You baws crying about the economy should have just gotten billions of PPP loans forgiven.
Posted on 11/2/22 at 3:18 pm to Ghost of Colby
quote:
Huh? Are you claiming the supply chain is causing inflation?
Inflation and supply chain disruptions are related, but only because they share many of the same causes. Shutdowns, followed by free money, followed by increased demand because of a trillion dollars of government money injected into the economy.
You realize America is not the only country experiencing inflation correct? Also, much of what you mentioned was going on under Trump too. From massive tax breaks to runaway PPP loans and stimulus checks.
This is a global problem.
The UK, Sweden, Italy, Germany, Hungary, Netherlands, the Euro Area generally, all have higher inflation rates than America currently. Of G20 countries, only China/Japan/Saudi Arabia have largely avoided large inflationary pressure, but even all of them are up over 3%.
I'm genuinely curious what the so called "conservative" solution is to inflation??? And what evidence they have to support it?
This post was edited on 11/2/22 at 3:21 pm
Posted on 11/2/22 at 3:23 pm to Bronc
quote:
I'm genuinely curious what the so called "conservative" solution is to inflation??? And what evidence they have to support it?
It surely isn't gaslighting people into thinking inflation is good for them.
Posted on 11/2/22 at 3:23 pm to Bronc
Does everyone itt also realize we're also under trumps tax plan still too?
Posted on 11/2/22 at 3:27 pm to Ghost of Colby
and the Democrats give us both!
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