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Soaring inflation rate under the Biden administration
#1
If approved, the Biden administration's irresponsible proposed $3.5 billion "Infrastructure" bill would just add fuel to the inflation fire. An inflation rate that continues to rise will probably doom Democrats' spending plans and rightfully so.

Quote:Producer inflation accelerated in August, as wholesale prices rose record 8.3% from a year ago

Key Points
  • The producer price index increased 0.7% in August from a month ago, above the 0.6% Dow Jones estimate.
  • Final demand prices rose 8.3% from a year ago, the biggest increase on record going back to 2010.
  • The move showed that inflationary pressures are likely to persist.
Remember when somebody predicted the soaring price of gasoline if Joe Biden was elected?
If not, then here is a refresher.

[Video: ]
#2
(09-10-2021, 10:36 AM)Hoot Gibson Wrote: If approved, the Biden administration's irresponsible proposed $3.5 billion "Infrastructure" bill would just add fuel to the inflation fire. An inflation rate that continues to rise will probably doom Democrats' spending plans and rightfully so.

Quote:Producer inflation accelerated in August, as wholesale prices rose record 8.3% from a year ago

Key Points
  • The producer price index increased 0.7% in August from a month ago, above the 0.6% Dow Jones estimate.
  • Final demand prices rose 8.3% from a year ago, the biggest increase on record going back to 2010.
  • The move showed that inflationary pressures are likely to persist.
"Employees have no right to engage in political protest while on the company clock. None."
#3
Notice how the Biden administration keeps pushing out the timeline for the return of a normal inflation rate. Pay no attention to them. As long as the Democrats pursue higher tax rates and large deficit spending programs, the inflation rate will continue its upward spiral.

Quote:White House Economic Adviser Says Higher Inflation Likely to Stick Around Longer

White House economic adviser Jared Bernstein told Fox News in a recent interview that inflation is likely to stay elevated longer than previously expected.

Bernstein told the outlet that he thinks the rate of inflation will come in at around 4 percent for 2021, before falling to 2.3 percent in 2022. He did not say when, precisely, he expects the rate will tick down next year, but noted inflation would likely stay high into the middle of next year.

His expectations closely track the Fed’s most recent predictions. While Bernstein did not specify which inflation measure he was referring to, his estimates are in line with the most recent Personal Consumption Expenditure (PCE) inflation projections from the Federal Open Market Committee (FOMC), the Fed’s policy-setting body.

After its most recent Sept. 21–22 meeting, the FOMC issued a revised set of economic projections (pdf) that estimate the PCE inflation rate at 4.2 percent for 2021, a sharp upward revision from June’s projection of 3.4 percent.
Remember when somebody predicted the soaring price of gasoline if Joe Biden was elected?
If not, then here is a refresher.

[Video: ]
#4
(10-02-2021, 10:47 PM)Hoot Gibson Wrote: Notice how the Biden administration keeps pushing out the timeline for the return of a normal inflation rate. Pay no attention to them. As long as the Democrats pursue higher tax rates and large deficit spending programs, the inflation rate will continue its upward spiral.

Quote:White House Economic Adviser Says Higher Inflation Likely to Stick Around Longer

White House economic adviser Jared Bernstein told Fox News in a recent interview that inflation is likely to stay elevated longer than previously expected.

Bernstein told the outlet that he thinks the rate of inflation will come in at around 4 percent for 2021, before falling to 2.3 percent in 2022. He did not say when, precisely, he expects the rate will tick down next year, but noted inflation would likely stay high into the middle of next year.

His expectations closely track the Fed’s most recent predictions. While Bernstein did not specify which inflation measure he was referring to, his estimates are in line with the most recent Personal Consumption Expenditure (PCE) inflation projections from the Federal Open Market Committee (FOMC), the Fed’s policy-setting body.

After its most recent Sept. 21–22 meeting, the FOMC issued a revised set of economic projections (pdf) that estimate the PCE inflation rate at 4.2 percent for 2021, a sharp upward revision from June’s projection of 3.4 percent.
Per your own article’s sources the supply chain is a major contributor to the inflation we are experiencing AND we know the supply chain problems are COVID related which we know is all Biden’s fault. Big Grin
#5
(10-03-2021, 10:50 AM)Cardfan1 Wrote:
(10-02-2021, 10:47 PM)Hoot Gibson Wrote: Notice how the Biden administration keeps pushing out the timeline for the return of a normal inflation rate. Pay no attention to them. As long as the Democrats pursue higher tax rates and large deficit spending programs, the inflation rate will continue its upward spiral.

Quote:White House Economic Adviser Says Higher Inflation Likely to Stick Around Longer

White House economic adviser Jared Bernstein told Fox News in a recent interview that inflation is likely to stay elevated longer than previously expected.

Bernstein told the outlet that he thinks the rate of inflation will come in at around 4 percent for 2021, before falling to 2.3 percent in 2022. He did not say when, precisely, he expects the rate will tick down next year, but noted inflation would likely stay high into the middle of next year.

His expectations closely track the Fed’s most recent predictions. While Bernstein did not specify which inflation measure he was referring to, his estimates are in line with the most recent Personal Consumption Expenditure (PCE) inflation projections from the Federal Open Market Committee (FOMC), the Fed’s policy-setting body.

After its most recent Sept. 21–22 meeting, the FOMC issued a revised set of economic projections (pdf) that estimate the PCE inflation rate at 4.2 percent for 2021, a sharp upward revision from June’s projection of 3.4 percent.
Per your own article’s sources the supply chain is a major contributor to the inflation we are experiencing AND we know the supply chain problems are COVID related which we know is all Biden’s fault. Big Grin
The purpose of linking to the article was to show that the Biden administration is pushing out the date that it expects inflation to return to normal. In other words, the administration is lying and the fact that the timeline is in constant forward motion is evidence that they are lying. I am encouraged that you actually read part of the article to which I linked. Maybe if you do so on a regular basis, you will eventually notice that the Biden administration is a propaganda mill. A person can learn a lot reading propaganda, if that person is smart enough to recognize when they are reading propaganda. Otherwise, they just allow themselves to be made into fools.

Biden's mishandling of the COVID pandemic IS VERY MUCH Biden's fault. The vaccination mandates will do nothing to resolve the issue and it is creating labor shortages, undermining military morale, and placing millions of lives at risk.
Remember when somebody predicted the soaring price of gasoline if Joe Biden was elected?
If not, then here is a refresher.

[Video: ]
#6
(10-03-2021, 01:20 PM)Hoot Gibson Wrote:
(10-03-2021, 10:50 AM)Cardfan1 Wrote:
(10-02-2021, 10:47 PM)Hoot Gibson Wrote: Notice how the Biden administration keeps pushing out the timeline for the return of a normal inflation rate. Pay no attention to them. As long as the Democrats pursue higher tax rates and large deficit spending programs, the inflation rate will continue its upward spiral.

Quote:White House Economic Adviser Says Higher Inflation Likely to Stick Around Longer

White House economic adviser Jared Bernstein told Fox News in a recent interview that inflation is likely to stay elevated longer than previously expected.

Bernstein told the outlet that he thinks the rate of inflation will come in at around 4 percent for 2021, before falling to 2.3 percent in 2022. He did not say when, precisely, he expects the rate will tick down next year, but noted inflation would likely stay high into the middle of next year.

His expectations closely track the Fed’s most recent predictions. While Bernstein did not specify which inflation measure he was referring to, his estimates are in line with the most recent Personal Consumption Expenditure (PCE) inflation projections from the Federal Open Market Committee (FOMC), the Fed’s policy-setting body.

After its most recent Sept. 21–22 meeting, the FOMC issued a revised set of economic projections (pdf) that estimate the PCE inflation rate at 4.2 percent for 2021, a sharp upward revision from June’s projection of 3.4 percent.
Per your own article’s sources the supply chain is a major contributor to the inflation we are experiencing AND we know the supply chain problems are COVID related which we know is all Biden’s fault. Big Grin
The purpose of linking to the article was to show that the Biden administration is pushing out the date that it expects inflation to return to normal. In other words, the administration is lying and the fact that the timeline is in constant forward motion is evidence that they are lying. I am encouraged that you actually read part of the article to which I linked. Maybe if you do so on a regular basis, you will eventually notice that the Biden administration is a propaganda mill. A person can learn a lot reading propaganda, if that person is smart enough to recognize when they are reading propaganda. Otherwise, they just allow themselves to be made into fools.

Biden's mishandling of the COVID pandemic IS VERY MUCH Biden's fault. The vaccination mandates will do nothing to resolve the issue and it is creating labor shortages, undermining military morale, and placing millions of lives at risk.
So the Biden admin is doing their version of 15 days?  Right around the corner?  

seems to be working pretty well vaccines nations have gone well past 70% since the announcement of mandates.  States with the highest vaccination rates are now at the lowest deaths and their rates are dropping…so…seems you’re wrong.  As usual. 

I still don’t understand the military gripe at this.  You get 10 or 12 shots the first day.  You go overseas you’re a pincushion.  This is known upon enlistment.

If this weren’t political and you hacks trying to use the military as part of your games nothing would be said. Another example of fake patriotism.
#7
(10-03-2021, 02:41 PM)Cardfan1 Wrote:
(10-03-2021, 01:20 PM)Hoot Gibson Wrote:
(10-03-2021, 10:50 AM)Cardfan1 Wrote:
(10-02-2021, 10:47 PM)Hoot Gibson Wrote: Notice how the Biden administration keeps pushing out the timeline for the return of a normal inflation rate. Pay no attention to them. As long as the Democrats pursue higher tax rates and large deficit spending programs, the inflation rate will continue its upward spiral.

Quote:White House Economic Adviser Says Higher Inflation Likely to Stick Around Longer

White House economic adviser Jared Bernstein told Fox News in a recent interview that inflation is likely to stay elevated longer than previously expected.

Bernstein told the outlet that he thinks the rate of inflation will come in at around 4 percent for 2021, before falling to 2.3 percent in 2022. He did not say when, precisely, he expects the rate will tick down next year, but noted inflation would likely stay high into the middle of next year.

His expectations closely track the Fed’s most recent predictions. While Bernstein did not specify which inflation measure he was referring to, his estimates are in line with the most recent Personal Consumption Expenditure (PCE) inflation projections from the Federal Open Market Committee (FOMC), the Fed’s policy-setting body.

After its most recent Sept. 21–22 meeting, the FOMC issued a revised set of economic projections (pdf) that estimate the PCE inflation rate at 4.2 percent for 2021, a sharp upward revision from June’s projection of 3.4 percent.
Per your own article’s sources the supply chain is a major contributor to the inflation we are experiencing AND we know the supply chain problems are COVID related which we know is all Biden’s fault. Big Grin
The purpose of linking to the article was to show that the Biden administration is pushing out the date that it expects inflation to return to normal. In other words, the administration is lying and the fact that the timeline is in constant forward motion is evidence that they are lying. I am encouraged that you actually read part of the article to which I linked. Maybe if you do so on a regular basis, you will eventually notice that the Biden administration is a propaganda mill. A person can learn a lot reading propaganda, if that person is smart enough to recognize when they are reading propaganda. Otherwise, they just allow themselves to be made into fools.

Biden's mishandling of the COVID pandemic IS VERY MUCH Biden's fault. The vaccination mandates will do nothing to resolve the issue and it is creating labor shortages, undermining military morale, and placing millions of lives at risk.
So the Biden admin is doing their version of 15 days?  Right around the corner?  

seems to be working pretty well vaccines nations have gone well past 70% since the announcement of mandates.  States with the highest vaccination rates are now at the lowest deaths and their rates are dropping…so…seems you’re wrong.  As usual. 

I still don’t understand the military gripe at this.  You get 10 or 12 shots the first day.  You go overseas you’re a pincushion.  This is known upon enlistment.

If this weren’t political and you hacks trying to use the military as part of your games nothing would be said. Another example of fake patriotism.
There are third-world countries and developing countries that have much lower infection and death rates than the United States has under Joe Biden. The vaccines are a joke. Countries with much higher vaccination rates than ours are seeing new records set for COVID infections and deaths. Meanwhile, some large Indian states have virtually eliminated COVID cases with vaccination rates in single digits by treating the disease early with combination of ivermectin and affordable, safe vitamins, minerals, and other supplements.

As for the military, their service members and contractors are being forced to be vaccinated with an experimental vaccine. That is what is different about COVIDC vaccinations and the vaccines that the members are required to take when they enlist.

The Biden administration will eventually lose cases involving mandated vaccinations with experimental vaccines but it will be too late for millions who have been coerced into getting the vaccinations.

Fake patriotism is your game, not mine. I never voted for a traitor and I do not support what he is doing to this country.


Back to the thread topic. Inflation is here to stay as long as Democrats are in power.
Remember when somebody predicted the soaring price of gasoline if Joe Biden was elected?
If not, then here is a refresher.

[Video: ]
#8
The national average price of a gallon of regular gasoline has risen about 93 cents since Biden took office. Consider that to be one of the many hidden taxes of the Biden presidency.

Quote:Gas Prices Now Highest Since 2014 Amid Supply Concerns

Gas prices rose to the highest levels since 2014, amid increased demand and concerns about supply.

According to AAA, the national average for a gallon of regular unleaded gasoline rose two cents to $3.204, the highest level it has been since October 2014, according to USA Today. California’s prices are the highest, at an average of $4.414 per gallon. Mississippi has the lowest prices, averaging $2.829 per gallon.

[Image: https://charts.gasbuddy.com/ch.gaschart?...%20%24%2FG]
Remember when somebody predicted the soaring price of gasoline if Joe Biden was elected?
If not, then here is a refresher.

[Video: ]
#9
https://www.usatoday.com/story/money/eco...996269001/

“Global economic uncertainty and supply chain concerns caused by the lingering COVID-19 pandemic could be playing a role in keeping crude oil prices elevated,” said Andrew Gross, AAA spokesperson.“But, there may be some relief on the horizon due to the news that OPEC and its allies might ramp up production increases faster than previously agreed.”

Maybe you should talk to Big Oil.  

https://www.wsj.com/articles/chevron-pos...1627640325

“Big oil companies are raking in their highest profits since the onset of the coronavirus pandemic, but they plan to continue spending sparingly to boost production despite higher commodity prices.

Exxon Mobil Corp. reported $4.7 billion in second quarter profit Friday, while rival Chevron Corp. reported $3.1 billion in quarterly profit.

The results represented a dramatic turnaround from a year earlier, when Exxon reported a quarterly loss of $1.1 billion and Chevron lost $8.3 billion as demand for oil and gas plummeted due to the closing of economies world-wide due to the virus“

Funny, how you love beg for socialism when it affects you, Hoot.
#10
(10-07-2021, 10:06 AM)Cardfan1 Wrote: https://www.usatoday.com/story/money/eco...996269001/

“Global economic uncertainty and supply chain concerns caused by the lingering COVID-19 pandemic could be playing a role in keeping crude oil prices elevated,” said Andrew Gross, AAA spokesperson.“But, there may be some relief on the horizon due to the news that OPEC and its allies might ramp up production increases faster than previously agreed.”

Maybe you should talk to Big Oil.  

https://www.wsj.com/articles/chevron-pos...1627640325

“Big oil companies are raking in their highest profits since the onset of the coronavirus pandemic, but they plan to continue spending sparingly to boost production despite higher commodity prices.

Exxon Mobil Corp. reported $4.7 billion in second quarter profit Friday, while rival Chevron Corp. reported $3.1 billion in quarterly profit.

The results represented a dramatic turnaround from a year earlier, when Exxon reported a quarterly loss of $1.1 billion and Chevron lost $8.3 billion as demand for oil and gas plummeted due to the closing of economies world-wide due to the virus“

Funny, how you love beg for socialism when it affects you, Hoot.
The chart that I linked shows the rise in the cost of gasoline since Biden was nominated. Big oil has not changed. The person residing in the White House changed and he immediately began taking actions to restrict Big Oil's access to oil reserves. Are you familiar with basic supply and demand curves, Cardfan1? Basically, they show what happens graphically when the supply of a product, service, or commodity drops. The price of that commodity, service, or product rises. Gasoline prices have risen because Biden took office and took actions to restrict access to this nation's oil reserves. 

When demand increases and supply has been restricted, prices rise. That is how our capitalist economy works. You wanted Joe Biden and you got him. Currently, you are paying more than 93 cents per gallon of gasoline for that privilege. Nobody else deserves blame except Biden and those who voted for him. Trump worked to make more oil reserves open for development and he worked with Canada to develop a pipeline to feed southern U.S. refineries with Canadian oil. Biden scrapped Trump's energy policies, so energy prices have soared.
Remember when somebody predicted the soaring price of gasoline if Joe Biden was elected?
If not, then here is a refresher.

[Video: ]
#11
Jan. 2020 gas was 2.63.
July 2019 2.97

Was Biden ruining the economy then?

Those were pre-Covid prices. Before the world shutdown and the destruction of an economy.

Another myopic take. Dodgy

But, Hoot, do you feel as if the Biden administration should intervene in the oil industry to lower prices?

https://www.usatoday.com/story/money/eco...996269001/

“Global economic uncertainty and supply chain concerns caused by the lingering COVID-19 pandemic could be playing a role in keeping crude oil prices elevated,” said Andrew Gross, AAA spokesperson.“But, there may be some relief on the horizon due to the news that OPEC and its allies might ramp up production increases faster than previously agreed.”

Maybe you should talk to Big Oil.  

https://www.wsj.com/articles/chevron-pos...1627640325

“Big oil companies are raking in their highest profits since the onset of the coronavirus pandemic, but they plan to continue spending sparingly to boost production despite higher commodity prices.

Exxon Mobil Corp. reported $4.7 billion in second quarter profit Friday, while rival Chevron Corp. reported $3.1 billion in quarterly profit.

The results represented a dramatic turnaround from a year earlier, when Exxon reported a quarterly loss of $1.1 billion and Chevron lost $8.3 billion as demand for oil and gas plummeted due to the closing of economies world-wide due to the virus“

Funny, how you love beg for socialism when it affects you, Hoot.
#12
^^^Hahaha the oil companies are screwing the public under Biden but they didn't under Trump. Another great take from CF. Even if that were true (it isn't)... you haven't heard about the Keystone pipeline and on and on, give me Trump back lol...
#13
(10-07-2021, 10:47 AM)Cardfan1 Wrote: Jan. 2020 gas was 2.63.
July 2019 2.97

Was Biden ruining the economy then?

Those were pre-Covid prices.  Before the world shutdown and the destruction of an economy.

Another myopic take. Dodgy

But, Hoot, do you feel as if the Biden administration should intervene in the oil industry to lower prices?

https://www.usatoday.com/story/money/eco...996269001/

“Global economic uncertainty and supply chain concerns caused by the lingering COVID-19 pandemic could be playing a role in keeping crude oil prices elevated,” said Andrew Gross, AAA spokesperson.“But, there may be some relief on the horizon due to the news that OPEC and its allies might ramp up production increases faster than previously agreed.”

Maybe you should talk to Big Oil.  

https://www.wsj.com/articles/chevron-pos...1627640325

“Big oil companies are raking in their highest profits since the onset of the coronavirus pandemic, but they plan to continue spending sparingly to boost production despite higher commodity prices.

Exxon Mobil Corp. reported $4.7 billion in second quarter profit Friday, while rival Chevron Corp. reported $3.1 billion in quarterly profit.

The results represented a dramatic turnaround from a year earlier, when Exxon reported a quarterly loss of $1.1 billion and Chevron lost $8.3 billion as demand for oil and gas plummeted due to the closing of economies world-wide due to the virus“

Funny, how you love beg for socialism when it affects you, Hoot.
You keep repeating the lie that I beg for socialism. Either back up that claim or shut up. I have never "begged for socialism," nor will I ever do so. Repeating a lie never makes it true, yet that is exactly what you do on a daily basis.

The gasoline prices that you quoted are not accurate. Apparently, you are attempting to compare the peak gasoline price during the Trump administration to the peak price under Biden, which is the same as today's price. What you are choosing to ignore is the fact that Trump inherited high fuel prices from the Obama/Biden administration and it took time for those policies to impact the gasoline prices. You are also choosing to completely ignore all of the Trump energy policies that Biden scrapped almost immediately after he assumed office. 

As any fool can see, prices are headed back to where they were under the Obama/Biden administration. 

[Image: https://charts.gasbuddy.com/ch.gaschart?...%20%24%2FG]
Remember when somebody predicted the soaring price of gasoline if Joe Biden was elected?
If not, then here is a refresher.

[Video: ]
#14
https://www.eia.gov/dnav/pet/hist/LeafHa...us_dpg&f=m

I chose a 6 month period prior to Covid. You remember that disease we licked in 15 days.

If you want the govt to intervene in the free market then you want socialism. That isn’t free market capitalism. It’s pretty basic, Hoot.

Thumbnail(s)
   
#15
(10-07-2021, 11:58 AM)Cardfan1 Wrote: https://www.eia.gov/dnav/pet/hist/LeafHa...us_dpg&f=m

I chose a 6 month period prior to Covid. You remember that disease we licked in 15 days.

If you want the govt to intervene in the free market then you want socialism. That isn’t free market capitalism.  It’s pretty basic, Hoot.
I have never advocated that the government intervene in the free market. Government policies that allow capitalism to work by removing obstacles to the free market is not socialism. Leasing oil and coal reserves to private companies in a bidding process is not socialism. Effectively and efficiently processing permit applications in a predictable, fair manner is not socialism. Arbitrarily revoking permits in response to special interest demands and prohibiting the leasing of federal energy resources because of political pressures is not capitalism.

Implementing government policies that empower capitalism by reducing federal red tape is not intervening in the free market, it is the opposite - it is reducing intervention by the federal government and harnessing the power free market.

Your attempt to portray Biden as a supporter of the free market and me as an advocate for socialist intervention in the free market economy is dishonest and just plain bizarre.

As for your "6 month period," your numbers are off, as I said. Can you not read a line graph? If you look at the 10-year chart, you can see the impact that the Obama/Biden administration's energy policies had on gasoline prices, the impact that Trump's policies had on prices, and the impact that Biden's policies have had on prices. The impact of Biden's policies has just begun to kick into high gear and the economy has not fully recovered from the pandemic yet.
Remember when somebody predicted the soaring price of gasoline if Joe Biden was elected?
If not, then here is a refresher.

[Video: ]
#16
(10-07-2021, 12:21 PM)Hoot Gibson Wrote:
(10-07-2021, 11:58 AM)Cardfan1 Wrote: https://www.eia.gov/dnav/pet/hist/LeafHa...us_dpg&f=m

I chose a 6 month period prior to Covid. You remember that disease we licked in 15 days.

If you want the govt to intervene in the free market then you want socialism. That isn’t free market capitalism.  It’s pretty basic, Hoot.
I have never advocated that the government intervene in the free market. Government policies that allow capitalism to work by removing obstacles to the free market is not socialism. Leasing oil and coal reserves to private companies in a bidding process is not socialism. Effectively and efficiently processing permit applications in a predictable, fair manner is not socialism. Arbitrarily revoking permits in response to special interest demands and prohibiting the leasing of federal energy resources because of political pressures is not capitalism.

Implementing government policies that empower capitalism by reducing federal red tape is not intervening in the free market, it is the opposite - it is reducing intervention by the federal government and harnessing the power free market.

Your attempt to portray Biden as a supporter of the free market and me as an advocate for socialist intervention in the free market economy is dishonest and just plain bizarre.

As for your "6 month period," your numbers are off, as I said. Can you not read a line graph? If you look at the 10-year chart, you can see the impact that the Obama/Biden administration's energy policies had on gasoline prices, the impact that Trump's policies had on prices, and the impact that Biden's policies have had on prices. The impact of Biden's policies has just begun to kick into high gear and the economy has not fully recovered from the pandemic yet.
That’s a whole lot of govt participation for a free market capitalist. 

I’m not attempting to portray Biden as a capitalist, but you are obviously an opportunist once again. 

What the graph tells me is every time a Republican crashes the economy we go thru a period of high gas prices until a Democrat can get the economy under control which moderates gas prices and we elect another Republican and the cycle continues.
#17
(10-07-2021, 01:07 PM)Cardfan1 Wrote:
(10-07-2021, 12:21 PM)Hoot Gibson Wrote:
(10-07-2021, 11:58 AM)Cardfan1 Wrote: https://www.eia.gov/dnav/pet/hist/LeafHa...us_dpg&f=m

I chose a 6 month period prior to Covid. You remember that disease we licked in 15 days.

If you want the govt to intervene in the free market then you want socialism. That isn’t free market capitalism.  It’s pretty basic, Hoot.
I have never advocated that the government intervene in the free market. Government policies that allow capitalism to work by removing obstacles to the free market is not socialism. Leasing oil and coal reserves to private companies in a bidding process is not socialism. Effectively and efficiently processing permit applications in a predictable, fair manner is not socialism. Arbitrarily revoking permits in response to special interest demands and prohibiting the leasing of federal energy resources because of political pressures is not capitalism.

Implementing government policies that empower capitalism by reducing federal red tape is not intervening in the free market, it is the opposite - it is reducing intervention by the federal government and harnessing the power free market.

Your attempt to portray Biden as a supporter of the free market and me as an advocate for socialist intervention in the free market economy is dishonest and just plain bizarre.

As for your "6 month period," your numbers are off, as I said. Can you not read a line graph? If you look at the 10-year chart, you can see the impact that the Obama/Biden administration's energy policies had on gasoline prices, the impact that Trump's policies had on prices, and the impact that Biden's policies have had on prices. The impact of Biden's policies has just begun to kick into high gear and the economy has not fully recovered from the pandemic yet.
That’s a whole lot of govt participation for a free market capitalist. 

I’m not attempting to portray Biden as a capitalist, but you are obviously an opportunist once again. 

What the graph tells me is every time a Republican crashes the economy we go thru a period of high gas prices until a Democrat can get the economy under control which moderates gas prices and we elect another Republican and the cycle continues.
Besides laying the groundwork for the fall of the Soviet Union, the greatest thing that Ronald Reagan did for this country was to deregulate industries as much as possible and to simplify regulations so that people who are expected to follow those regulations do not need a legal opinion from an attorney. Decoupling businesses from the federal government to the greatest extent possible is not socialism. When the government intervenes in business in favor of simpler and fewer regulations that is not even remotely a socialist intervention.
Remember when somebody predicted the soaring price of gasoline if Joe Biden was elected?
If not, then here is a refresher.

[Video: ]
#18
LOL. Give us a list of Republicans who've crashed the economy Cardfan.
[SIGPIC][/SIGPIC]
#19
(10-07-2021, 03:03 PM)TheRealThing Wrote: LOL. Give us a list of Republicans who've crashed the economy Cardfan.
Isn't it amazing how liberals still believe that raising taxes and spending more money on socialist entitlement programs is good for the economy? I have not heard Jimmy Carter speak lately, but the last time that I did hear him, he was more coherent and articulate than Joe Biden is. Biden is nothing more than a human version of a rubber stamp for his handlers.
Remember when somebody predicted the soaring price of gasoline if Joe Biden was elected?
If not, then here is a refresher.

[Video: ]
#20
(10-07-2021, 04:12 PM)Hoot Gibson Wrote:
(10-07-2021, 03:03 PM)TheRealThing Wrote: LOL. Give us a list of Republicans who've crashed the economy Cardfan.
Isn't it amazing how liberals still believe that raising taxes and spending more money on socialist entitlement programs is good for the economy? I have not heard Jimmy Carter speak lately, but the last time that I did hear him, he was more coherent and articulate than Joe Biden is. Biden is nothing more than a human version of a rubber stamp for his handlers.

Then there was Bill Clinton who came into office lying and he went out of office lying. One of the political lies he never gave up on was taking credit for the economic turnaround that happened under his predecessor Ronald Reagan. I mean, it would have been one thing to argue about improvements under his own administration, but to credit himself for the economy he inherited was absurd.

But kudos to the Dems because they learned a valuable lesson. Obama struck first to claim that the Trump turnaround was all his doing, and now the Biden handlers are revising the Trump turnaround in their own favor. But yeah, it is amazing alright. I do wonder though how people can find their way back home at night given they are obviously of such short memory.
[SIGPIC][/SIGPIC]
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  • Hoot Gibson
#21
Quote:BIDINFLATION: Americans spending an extra $175 per month on food, fuel, housing

Despite the inflation being called "transitory" by government officials, the rate is running at a 30-year high, and has been for months.

Supply chain shortages and government spending has taken a toll on Americans' wallets, with households on average having to shell out an additional $175 on average for essentials like food, fuel, and housing, and analysts have no prediction to when prices will stabilize.

Chief economist at Moody's Analytics, Mark Zandi, told the New York Post that households earning the US median annual income of about $70,000 are having to spend $175 more due to the current inflation rate, which surged 5.3 percent in August compared to the same month last year.

"That's the equivalent of a full grocery, electric or cellphone bill," Zandi said.

Despite the inflation being called "transitory" by government officials, the rate is running at a 30-year high, and has been for months.
Supply chain issues have made it hard to predict just when prices will finally stabilize, with more than 70 cargo ships waiting to dock in Los Angeles, and a trucker shortage facing the country.

Gordon Haskett analyst Chuck Grom predicts that "price increases will continue until the middle of next year," pointing to a recent PepsiCo announcement that consumers should expect another surge in pricing of their items early next year.

Grom noted that a 10-ounce bag of Lay's potato chips, produced under the company Frito-Lay which is owned by PepsiCo, cost $3.75 in August, 50 cents more than last year earlier at Dollar General stores in the Southwest.
Remember when somebody predicted the soaring price of gasoline if Joe Biden was elected?
If not, then here is a refresher.

[Video: ]
#22
(10-07-2021, 03:03 PM)TheRealThing Wrote: LOL. Give us a list of Republicans who've crashed the economy Cardfan.

 W. Bush and  Trump for starters. 

you could throw in Reagan too but Bush 1 raised taxes to pay the bills and he lost because of it. But his willingness to do what the nation needed set up Clinton’s economic upturn.
#23
Gas prices have risen mainly due to refinery issues, plus OPEC and Russia decreased productionin 2021, so yes it is supply and demand. It definitely has nothing to do with the Keystone Pipeline.
#24
(10-08-2021, 02:26 PM)The Outsider Wrote: Gas prices have risen mainly due to refinery issues, plus OPEC and Russia decreased productionin 2021, so yes it is supply and demand.  It definitely has nothing to do with the Keystone Pipeline.
HAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHA
#25
(10-08-2021, 03:05 PM)jetpilot Wrote:
(10-08-2021, 02:26 PM)The Outsider Wrote: Gas prices have risen mainly due to refinery issues, plus OPEC and Russia decreased productionin 2021, so yes it is supply and demand.  It definitely has nothing to do with the Keystone Pipeline.
HAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHA

The Keystone pipeline was not operational, so it's not affecting prices at this time, now that will be a different story for future gas prices.
#26
(10-08-2021, 02:26 PM)The Outsider Wrote: Gas prices have risen mainly due to refinery issues, plus OPEC and Russia decreased productionin 2021, so yes it is supply and demand.  It definitely has nothing to do with the Keystone Pipeline.
This country became a net petroleum exporter under Trump and prices dropped sharply over the course of his administration - even before the pandemic struck. Some fluctuation in crude oil prices because of natural disasters, etc., are natural, but it is not merely a coincidence that Joe Biden has been part of two different administrations with similar energy policies when gasoline prices reached their highest points of the past 30 years.

The damage that liberals like Obama and Biden do to this nation's economy and energy self-sufficiency is long-term. Their actions always contribute to speculation that future prices will rise sharply because of artificial decreases in the supply of affordable energy. Every idiotic attack on energy producers has an impact on the price of crude oil, and that definitely includes the cancelation of projects like the Keystone Pipeline.
Remember when somebody predicted the soaring price of gasoline if Joe Biden was elected?
If not, then here is a refresher.

[Video: ]
#27
(10-08-2021, 02:26 PM)The Outsider Wrote: Gas prices have risen mainly due to refinery issues, plus OPEC and Russia decreased productionin 2021, so yes it is supply and demand.  It definitely has nothing to do with the Keystone Pipeline.

Don’t bother.

It’s all Biden’s fault Trump is the gassiest gas President Big Grin 

he brings all the oil companies heel.  they sacrifice all those billions in profits in the face of the Orange wonder.
#28
(10-08-2021, 12:24 PM)Cardfan1 Wrote:
(10-07-2021, 03:03 PM)TheRealThing Wrote: LOL. Give us a list of Republicans who've crashed the economy Cardfan.

 W. Bush and  Trump for starters. 

you could throw in Reagan too but Bush 1 raised taxes to pay the bills and he lost because of it. But his willingness to do what the nation needed set up Clinton’s economic upturn.

George Bush did not cause the global financial crisis of 2007:

The 2007-08 financial crisis affected many countries
simultaneously and led to a global economic crisis unseen since
the Great Depression. It was triggered by a proliferation of

financial products linked to risky mortgage loans. The crisis
seriously called into question financial globalisation"
https://www.oecd-ilibrary.org/docserver/...2A1FD50B40


US NEWS: Sept 23, 2008
Rep Barney Frank's contributing lies and false logic---
"Over the past few weeks I've been skeptical of claims by Rep. Barney Frank, chairman of the House Financial Services Committee, that he's been a consistent and leading voice for reform of Fannie Mae and Freddie Mac, the two government-sponsored home-lending giants whose fall is the immediate cause of the current financial turmoil. The Massachusetts Democrat and I went at it here and here and here. Now, finally, Frank acknowledges that he dismissed ample warnings about Fannie and Freddie shenanigans five years ago.
https://www.usnews.com/opinion/blogs/sam...ial-crisis


If you're typing you're lying Cardfan. I was paying attention to world events during the Bush era, but anybody can avoid the DNC political narrative of your preferred spew and research what really happened; the information is still out there for all to see. AFWIW, your side has yet to learn one thing about the failures of  Keynesian Economics, whether that be in the historical sense or the recent sense because this time they're really going for the jugular.


As for MR Trump, I have litigated the issue successfully using the facts on this forum since 2015. Trump's economy was vibrant, fair minded and very successful as history proves. You've yet to prove one point of your contention to what are indisputable historical facts of record. Instead though epically repugnant, you have done a yoeman's work in spreading the lies of the left and the revisions of the left. To that end you are hard to clean after and I apologize to everyone else, but I just am not willing to waste the time necessary to come on here and contest every lie that you put up Cardfan.
[SIGPIC][/SIGPIC]
#29
(10-08-2021, 05:23 PM)Cardfan1 Wrote:
(10-08-2021, 02:26 PM)The Outsider Wrote: Gas prices have risen mainly due to refinery issues, plus OPEC and Russia decreased productionin 2021, so yes it is supply and demand.  It definitely has nothing to do with the Keystone Pipeline.

Don’t bother.

It’s all Biden’s fault Trump is the gassiest gas President Big Grin 

he brings all the oil companies heel.  they sacrifice all those billions in profits in the face of the Orange wonder.

Right, 'don't bother.' These guys deal with facts and reality so, you're never going to get through to them.

Remember Ol Joe's first day in office? First he canceled the Keystone Pipeline costing US taxpayers billions of dollars on an ongoing basis, and thousands of good paying jobs. Second was the so-called 'temporary' suspension of fracking on Federal lands.

https://www.reuters.com/article/us-usa-d...SKBN29Q2N1
January 21, 2021
By Nichola Groom, Jennifer Hiller
(Reuters) -"U.S. President Joe Biden’s administration has temporarily suspended oil and gas permitting on federal lands and waters in the latest of a series of rapid-fire orders aimed at fighting climate change and tamping down the U.S. fossil fuel industry.

The order appeared to be a first step in delivering on newly sworn-in Biden’s campaign pledge to permanently ban new drilling on federal acreage. Federal leases account for close to 25% of the nation’s crude oil output, making them a big contributor to energy supply"
END ARTICLE EXCERPT--------------------------------------------------------------------------------------------------

As I have endeavored to point out on numerous occasions; the renewables energy industry accounts for a minuscule 3% of America's energy consumption. (Which 3% would be a much smaller number than even 3% if one takes hydroelectric power generation out of the equation) And the symbolism of the president's first action being the shut down of Keystone was not lost on those not awash on the koo-laid. Or liberal monkey puke if you prefer.
[SIGPIC][/SIGPIC]
#30
https://www.cnn.com/2021/10/11/business/...index.html
.
It appears as if OPEC is holding all the cards right now.

The cost of energy was dirt cheap in the spring of 2020 as roads and airports sat nearly empty during the height of the Covid-19 pandemic.

Energy demand is back today as the world economy reopens -- but supply simply hasn't kept up. That's why US oil prices have skyrocketed $120 since crashing to negative $40 a barrel in April 2020. US oil prices finished above $80 a barrel on Monday for the first time in nearly seven years.

While demand is strong, oil supplies have simply not kept pace.
US oil production has been slow to rebound from Covid -- even as prices have surged. Many US oil companies are leery of once again oversupplying the market and they are far more focused on returning cash to shareholders who have lost gobs of money over the past decade.

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