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Message
1
Posted on 3/7/23 at 2:24 pm to Cshaw91
Yes
Posted on 3/7/23 at 2:30 pm to member12
Let it crash and burn
Posted on 3/7/23 at 2:38 pm to wasteland
The last two stimulus bills have hardly been spent yet or the insane omnibus.
They are going to keep inflation high for the next two years. We will be lucky if the fed doesn’t have to boost the rate to 10% just to overcome the headwinds of the dumbasses in DC working at cross purposes with them. Next month they should let Powell be the one asking them questions
They are going to keep inflation high for the next two years. We will be lucky if the fed doesn’t have to boost the rate to 10% just to overcome the headwinds of the dumbasses in DC working at cross purposes with them. Next month they should let Powell be the one asking them questions
Posted on 3/7/23 at 2:50 pm to member12
quote:
Hope you like higher rates....because that's what we are getting.
After the global lockdown and stimmy checks, there was never any other option.
Posted on 3/7/23 at 2:56 pm to LSUBadger
The fed shouldn’t have lowered the hikes to .25% last time
Posted on 3/7/23 at 2:59 pm to Bard
quote:
After the global lockdown and stimmy checks, there was never any other option.
Yes there was. Energy independence would have been a damn good start. That was ended on day 1 of this vegetable's administration in favor of clown renewables.
Posted on 3/7/23 at 3:05 pm to member12
Joe Bidens America
Posted on 3/7/23 at 3:11 pm to Tomatocantender
quote:
Yes there was. Energy independence would have been a damn good start.
While I like this idea, I doubt it would have had much of an impact on the inflation situation. Oil and Gas is still a globally traded commodity.
Posted on 3/7/23 at 4:15 pm to Warfox
Should have known it was coming if you had been following the trades made by of political elite.
Posted on 3/7/23 at 4:19 pm to Tomatocantender
quote:
Yes there was. Energy independence would have been a damn good start.
Nope.
Stimmy checks, PPP and extended/enhanced COVID benefits injected an IN-frickING-SANE amount of liquidity into the economy in a ridiculously short amount of time. Continued energy independence wasn't going to do much against that level of currency inflation.
Also, there was never a chance that the Biden administration wasn't going to treat O&G as the enemy. That means continued energy independence was on death row the moment Biden walked into the Oval Office. So, no, it was only an option in our dreams of an alternate reality.
Most importantly though, mine was a response about JPow and the Fed. They have absolutely no control over energy policy.
So there was never any other option.
Posted on 3/7/23 at 4:37 pm to Cycledude
quote:
So why can’t we ramp up supply?
Bringing a copper mine or semiconductor fabrication facility or cotton spinning mill online isn’t as simple as flipping a switch. It takes years of planning and construction. It’s made even worse in the U.S. with all the ridiculous permitting and palm greasing required.
quote:
While I like this idea, I doubt it would have had much of an impact on the inflation situation. Oil and Gas is still a globally traded commodity.
There’s a reason why we have WTI and Brent distinctions in the oil market. They might be globally traded, but supplies are relatively regional in usage, ESPECIALLY natural gas. It takes years to build up the infrastructure and shipping necessary to transport LNG long distances.
Posted on 3/7/23 at 4:37 pm to wasteland
quote:
Let it crash and burn
quote:
wasteland
checks out
Posted on 3/7/23 at 4:40 pm to Bard
quote:
Also, there was never a chance that the Biden administration wasn't going to treat O&G as the enemy. That means continued energy independence was on death row the moment Biden walked into the Oval Office. So, no, it was only an option in our dreams of an alternate reality.
We have remained net exporters of petroleum products throughout all of Biden's term so far and will be net exporters of crude this year for the first time ever.
We are more energy independent today then at any other time in our lives.
Posted on 3/7/23 at 4:43 pm to member12
Money Board.
Posted on 3/8/23 at 7:20 am to JohnnyKilroy
quote:
We have remained net exporters of petroleum products throughout all of Biden's term so far
This is true.
quote:
We are more energy independent today then at any other time in our lives.
This is not. We're still ~700k barrels per day behind where we were pre-COVID LINK. This shortfall is a big part of why we saw the spike in fuel prices last summer and are likely to see them again this summer (except there's almost no SPR inventory left to pull from to lessen the impact).
Natural Gas production has bounced back and spot prices have dropped considerably, but that hasn't filtered down to the consumer level yet (which is why energy is still expensive for many).
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