kurtster wrote:

No.  Not all.   Your political elites along with significant popular support are in the processing of hammering the poor on fixed income and low-income workers. 

1.  Your dual mandate monetary policy makes high inflation and financial instability more likely than less likely.  It is exacerbated by a naïve belief in economic growth as opposed to higher per capita wealth outcomes.  If it was up to me, the employment mandate would be dropped and the inflation target reduced to 1% and ultimately to 0%.  

2.  The US cheap energy entitlement and the lowest excise taxes on gasoline and diesel among the rich western democracies make the US economy more vulnerable to oil price shocks.

3.  Clearly little thought went into providing NATO membership to former Warsaw Pact countries and the threat to make Ukraine a member of NATO.  As long as Dark Ages morality and an old Testament warrior attitude prevails over US foreign policy, more mistakes will be made.  The most vulnerable will suffer, as always.  

Not to over-post but as @briantaylorcohen tweeted,


Hell of a week for Biden:

-528k July jobs added
-Unemployment at 3.5% (50-year low)
-Zawahiri killed
-CHIPS Act passes
-PACT Act passes
-Inflation Reduction Act deal
-Gas hits 50+ day low (median US price below $4/gal)
-Kansas protects abortion

And he oversaw it all with COVID.

Demand for gas is down 10% compared to 2019. That's not a huge amount. According to this Reuters article, price drops for refined retail gas lags behind crude petroleum price drops. Crude has plummeted in price, retail gas has slowly dropped in price. 

Interesting piece! 

U.S. gasoline prices are finally falling. Why?

https://www.reuters.com/busine...

 kurtster wrote:
528,000 jobs added in July. Not clear we're in a recession. 

Kurt, if you're going to make claims about the economy, please provide reliable supporting evidence. There are enough bloviating liars and fantasists in the world.

Why can't apparently intelligent folks at least make an effort to understand complex situations?
I think instead, they just savor the argument.

 Bill_J wrote:

We can discuss over pizza at Comet Ping Pong.

 Red_Dragon wrote:

I don't understand economics very well but I'm pretty sure it has something to do with child sex-trafficking.

 rgio wrote:

do tell

 kurtster wrote:
Exactly how did Biden give us the recession?

 kcar wrote: 
Biden has given us a recession.  Demand is falling, hence falling prices,

 westslope wrote: 
Quite an assessment you make there.

So having said all of that, you are ok with the inflationary affects and the resulting significantly lower standard of living for those making $100 k or less per year ?

Gas prices this area are now 30-40 cents/gallon higher than winter prices. What happened to your supercrisis, Kurt?

 kurtster wrote:
Well, I slowed down 10 km/h on average when I drive highways with the gas-guzzling 4X4 off-road SUV.  To about 101-102 km/hr if you are curious.

Otherwise, as an investor who specializes in overseas oil & gas explorers & producers, it is working out really well kurtster.   Thank you for asking.

Everybody in this sector was really down on Joe but I knew different.  I knew that he was just as attached to the infamous US cheap energy entitlement as Donald J. Trump and friends when he took office.  I knew that Joe would attempt to save the world from climate disruption by attacking and demonizing supply and distribution.   I knew Joe would avoid directly addressing consumption because that would be 'un-American'.  

Joe knows that American voters are not strong on math, data and the sciences in general and care for US world class experts about as much as they care for the brown-skinned victims of US terrorism.    Joe knows that transparency and accountability are not in great demand. 

I knew that Joe was a Man of Freedom.  I knew that he would proudly and with great determination maintain the US federal government excise taxes on gasoline and diesel  fuel at the same level they were at in nominal terms in the 1990s.  

I knew Joe was a big backer of the ever popular US obesity-sitting-dementia policies.   To some extent, I sympathize.  Given the widespread availability of fabulous and oh so powerful modern opioid drugs, why make an effort to 'live right'?  Opioids to the rescue!

FTA - Since Monday, the national average for a gallon of regular gasoline has declined eight cents to $4.13.
https://gasprices.aaa.com/2022...

Let’s go Biden!

Republicans (Still) Wrongly Blame Biden for Rising Gas Prices

“Covid changed the game, not President Biden,” said Patrick De Haan, the head of petroleum analysis for GasBuddy, which tracks gasoline prices. “U.S. oil production fell in the last eight months of President Trump’s tenure. Is that his fault? No.”

 westslope wrote: 
The price of everything is up, in real terms.

You've also been advocating for higher oil prices for as long as you have been here.  Said that we had it too soft and needed to pay more.

Well you got your wish at last and Joe is your saviour !

So how are these higher gas prices working out for you ?  You should be jumping for joy right now.

 Red_Dragon wrote:

In real terms or nominal terms?

 kcar wrote:
Speaking of guys with Baggage, what about Cuomo?

 Steely_D wrote:

Nah, gotta be Joe's fault.

 Red_Dragon wrote:

Capitalism, bruh.