Dropping gas prices - Welcome to the Biden Recession

[Moonglow]

The National Bureau of Economic Research hasn't officially declared the Biden Recession., even though the price of gasoline has started dropping. The lowering of the US national average of gas prices means fewer people are driving.

View attachment 671768

THE GREAT RECESSION, 2007-2009​

"Many experts are predicting that we are entering a bad recession; 6.6 million people applied for unemployment benefits last week. Although the situations are not the same, we can look at what gas prices were the last time we were in a recession in 2008 to glean some insight on what could potentially happen.

According to the U.S. National Bureau of Economic Research, the Great Recession began in December 2007 and ended in June 2009. During that time, the national average surpassed $4 per gallon from June 8, 2008 to July 24, 2008, peaking on July 16 at $4.10 per gallon."

What we can learn from history about gas prices during a recession.

View attachment 671769
The economist Daniel Lacalle explains why he believes the Biden Recession has already started...

"The debate about recession risk is pointless. We are already in a recession. Real GDP (gross domestic product) in the United States declined at an annual rate of 1.6% in the first quarter."

Hedgeye Risk Management | The Recession May Already Be Here

2020 was a worse recession than today.

 

[Canon Shooter]

The dickless wonders on the right are constantly looking for things to make them upset. Biden's moves to lower gasoline prices are now suddenly a bad thing.

This is the true form of the idiot liberal:

Two years ago we're paying two bucks for a gallon of gasoline. A year or so ago we're in the $3.29 range. For the last couple of months, gas prices have been, in some areas, six or seven bucks a gallon.

Last week the average price for gas was $4.89 a gallon. "Biden's moves" to lower prices results in prices coming down about 14¢ and libs act like he's the second coming of Christ. Well, no. Such a decrease is hardly worthy of praise. Biden needs to make his "moves" to get gas prices down to where they were when he took office before he can legitimately claim credit for anything...

 

[Mac-7]

They're also unaware that the guy before Biden BEGGED the Fed to INCREASE QE and DECREASE interest rates, adding to inflationary pressures.

Then he/they bragged about an economy that (they evidently didn't know) was driven by the Fed.

Arrogant ignorance, their trademark.

Trump opposed fauchi and the democrats who were willing to shut down the economy for years out of fear of tje chinese disease

Given liberal stupidity such as that trump signed on to stimulus as a necessary measure along with helicopter money

All of which added to inflation

 

[Moonglow]

This is the true form of the idiot liberal:

Two years ago we're paying two bucks for a gallon of gasoline. A year or so ago we're in the $3.29 range. For the last couple of months, gas prices have been, in some areas, six or seven bucks a gallon.

Last week the average price for gas was $4.89 a gallon. "Biden's moves" to lower prices results in prices coming down about 14¢ and libs act like he's the second coming of Christ. Well, no. Such a decrease is hardly worthy of praise. Biden needs to make his "moves" to get gas prices down to where they were when he took office before he can legitimately claim credit for anything...

Gasoline has decreased by a dollar in a month and I like it. Gas was .97 cents during Trump but he had to ruin the economy to get it in 2020.

 

[Mac-7]

This is the true form of the idiot liberal:

Two years ago we're paying two bucks for a gallon of gasoline. A year or so ago we're in the $3.29 range. For the last couple of months, gas prices have been, in some areas, six or seven bucks a gallon.

Last week the average price for gas was $4.89 a gallon. "Biden's moves" to lower prices results in prices coming down about 14¢ and libs act like he's the second coming of Christ. Well, no. Such a decrease is hardly worthy of praise. Biden needs to make his "moves" to get gas prices down to where they were when he took office before he can legitimately claim credit for anything...

Its easy to sell simple ideas such as OIL COMPANIES BAD to simple people

 

[Canon Shooter]

Gasoline has decreased by a dollar in a month and I like it. Gas was .97 cents during Trump but he had to ruin the economy to get it in 2020.

Oh, sure, I love paying less for gas.

But the long line of liberals waiting suck Biden's dick in adoration is almost comical...

 

[Moonglow]

Oh, sure, I love paying less for gas.

But the long line of liberals waiting suck Biden's dick in adoration is almost comical...

Do you always fantasize as such over gas prices?

 

[Moonglow]

Its easy to sell simple ideas such as OIL COMPANIES BAD to simple people

They are in control of production and distribution. When several go broke in 2020 due to negative oil prices what would you expect to happen?

 

[Mac-7]

They are in control of production and distribution. When several go broke in 2020 due to negative oil prices what would you expect to happen?

I was thinking of biden blaming gas station owners for the high prices

Thats just simple minded stupidity by Old Joe

As for lack of oil production thats a more complicated problem than liberals imagine

 

[Canon Shooter]

Do you always fantasize as such over gas prices?

Um, by "liberal" I was actually thinking of dimwits like you...

 

[initforme]

The stimulus money had little to do with inflation and the fake labor shortage

 

[Harpy Eagle]

The National Bureau of Economic Research hasn't officially declared the Biden Recession., even though the price of gasoline has started dropping. The lowering of the US national average of gas prices means fewer people are driving.

View attachment 671768

THE GREAT RECESSION, 2007-2009​

"Many experts are predicting that we are entering a bad recession; 6.6 million people applied for unemployment benefits last week. Although the situations are not the same, we can look at what gas prices were the last time we were in a recession in 2008 to glean some insight on what could potentially happen.

According to the U.S. National Bureau of Economic Research, the Great Recession began in December 2007 and ended in June 2009. During that time, the national average surpassed $4 per gallon from June 8, 2008 to July 24, 2008, peaking on July 16 at $4.10 per gallon."

What we can learn from history about gas prices during a recession.

View attachment 671769
The economist Daniel Lacalle explains why he believes the Biden Recession has already started...

"The debate about recession risk is pointless. We are already in a recession. Real GDP (gross domestic product) in the United States declined at an annual rate of 1.6% in the first quarter."

Hedgeye Risk Management | The Recession May Already Be Here

so, now lower gas prices are a bad thing.

Holy fuck dude, get help.

 

[Harpy Eagle]

The layoffs have already started, and it's far worse than you even know:

Learn From Industry Experts - HiCounselor

You know this is only for tech startup layoffs and it is world wide.

 

[JGalt]

so, now lower gas prices are a bad thing.

Holy fuck dude, get help.

No, they're not bad. But the dropping gas prices, low unemployment rates, and inflationary prices together are a sure sign of a recession. That we are in now. All that remains is to see just how bad it gets.

 

[JGalt]

You know this is only for tech startup layoffs and it is world wide.

That layoff tracker only reflected the layoffs in the tech sector. You're more than free to look at the other sectors is you want.

 

[Harpy Eagle]

No, they're not bad. But the dropping gas prices, low unemployment rates, and inflationary prices together are a sure sign of a recession. That we are in now. All that remains is to see just how bad it gets.

The recession was inevitable, no matter who won in 2020. We average one every 7 years since the end of the Great Depression. The mini-recession due to COVID did not really fit the bill. This was going to happen.

Yes, all that remains is how bad it gets. The one positive I can think of is that I do not recall a worker shortage before the previous recessions. Most places do not have a glut of employees to shed.

 

[hadit]

Biden Recession, you always blame it on the President, Biden is not responsible for the inflation.

He IS responsible to deal with it, and has been for some time now.

 

[JGalt]

The recession was inevitable, no matter who won in 2020. We average one every 7 years since the end of the Great Depression. The mini-recession due to COVID did not really fit the bill. This was going to happen.

Yes, all that remains is how bad it gets. The one positive I can think of is that I do not recall a worker shortage before the previous recessions. Most places do not have a glut of employees to shed.

I disagree. I voted for Trump twice and followed his policies very closely. He was more than capable of formulating and executing a strategy to increase domestic demand to keep the US on a steady growth path. He did that very well in 2018 and 2019, when he brought energy prices down, due to his energy policies.

Prior to COVID, the economy was doing exceptionally well. Unemployment rates were at historic lows and that included employment numbers for African Americans, Hispanics, and Women. Pay wages were increasing and our employment participation rate was high.

If anything the history of the pre-COVID US GDP should be an indicator of how it would be, if Trump had been President...

Now I'm predicting that you'll find this rather hilarious. But I would expect nothing less from a Trump-hater such as yourself.

 

[Harpy Eagle]

I disagree. I voted for Trump twice and followed his policies very closely. He was more than capable of formulating and executing a strategy to increase domestic demand to keep the US on a steady growth path. He did that very well in 2018 and 2019, when he brought energy prices down, due to his energy policies.

Prior to COVID, the economy was doing exceptionally well. Unemployment rates were at historic lows and that included employment numbers for African Americans, Hispanics, and Women. Pay wages were increasing and our employment participation rate was high.

If anything the history of the pre-COVID US GDP should be an indicator of how it would be, if Trump had been President...

View attachment 671883

Yes, he did fine keeping things going as long as possible using tax cuts and vastly increased Govt spending. But that is akin to drinking Red Bull to stay awake, eventually it catches up to you.

It is not an accident we have averaged a recession once every less than 8 years since the end of the Great Depression. They are built into our system and can only be avoided for so long.

 

[Harpy Eagle]

I disagree. I voted for Trump twice and followed his policies very closely. He was more than capable of formulating and executing a strategy to increase domestic demand to keep the US on a steady growth path. He did that very well in 2018 and 2019, when he brought energy prices down, due to his energy policies.

Prior to COVID, the economy was doing exceptionally well. Unemployment rates were at historic lows and that included employment numbers for African Americans, Hispanics, and Women. Pay wages were increasing and our employment participation rate was high.

If anything the history of the pre-COVID US GDP should be an indicator of how it would be, if Trump had been President...

View attachment 671883


Now I'm predicting that you'll find this rather hilarious. But I would expect nothing less from a Trump-hater such as yourself.

Also, GDP wise, Trump was no better than Obama, yet you hate one and worship the other....why is that.