234,895,000 Americans with Drivers' license average $13 billion more per month out of pocket cost due to Biden!

[Care4all]

I've explained myself. Much of this inflation is because of the trillions and trillions pumped into the markets.

Interest rates should have went up under Obama.

By the Fed, in quantitative easing????

 

[pknopp]

By the Fed, in quantitative easing????

You understand. It gets old when people (you) do this.

 

[Care4all]

You understand. It gets old when people (you) do this.

I just looked up your claim, or at least what I believe is your claim? The first post I responded to of yours, I thought you were talking about only end users of oil determining the market price, then YOU came back and changed what I thought you meant, in to something TOTALLY DIFFERENT, monetary policy....so I've had every reason to be confused on what you are talking about....if you can't see that, then I don't know what to say....? There is no way I could read your mind....? All I wanted was some clarity....

Yes, under Obama, the Fed raised interest payments only twice....in his second term.
===================


Fackcheck.org

Quick Take​

The Federal Reserve has raised interest rates nine times since 2015, so a claim circulating on social media that there were no increases during the Obama administration is wrong.

---

Full Story​

The central bank raised interest rates on Dec. 19, 2018 for the ninth time since 2015.

Two of those increases were during the last two years of President Barack Obama’s administration, which inherited a weak economy following the Great Recession that began in 2007. The other seven increases came after President Donald Trump took office in January 2017.

So, this claim circulating on social media is wrong: “Federal Reserve raises interest rates THE FOURTH TIME since Trump was elected. It raised them zero times under Obama. The goal? Slow down Trump’s economic boom. Economic slowdown will affect the 2020 election. Another Deep State move.”

The claim started out on Twitter, where it was retweeted more than 4,000 times, then it migrated to Facebook, where it’s been shared more than 2,500 times.

The Federal Reserve lists the increases on its website. There are also press releases for each of nine as well.

Also, Jerome Powell, whom Trump nominated to be chairman of the Federal Reserve, has voted for each of them — first as a board member and then after he became the chairman in early 2018. So, Trump chose Powell to lead the central bank after he had voted for five interest rate increases.

 

[pknopp]

I just looked up your claim, or at least what I believe is your claim? The first post I responded to of yours, I thought you were talking about only end users of oil determining the market price, then YOU came back and changed what I thought you meant, in to something TOTALLY DIFFERENT, monetary policy....so I've had every reason to be confused on what you are talking about....if you can't see that, then I don't know what to say....? There is no way I could read your mind....? All I wanted was some clarity....

Yes, under Obama, the Fed raised interest payments only twice....in his second term.
===================


Fackcheck.org

Quick Take​

The Federal Reserve has raised interest rates nine times since 2015, so a claim circulating on social media that there were no increases during the Obama administration is wrong.

---

Full Story​

The central bank raised interest rates on Dec. 19, 2018 for the ninth time since 2015.

Two of those increases were during the last two years of President Barack Obama’s administration, which inherited a weak economy following the Great Recession that began in 2007. The other seven increases came after President Donald Trump took office in January 2017.

So, this claim circulating on social media is wrong: “Federal Reserve raises interest rates THE FOURTH TIME since Trump was elected. It raised them zero times under Obama. The goal? Slow down Trump’s economic boom. Economic slowdown will affect the 2020 election. Another Deep State move.”

The claim started out on Twitter, where it was retweeted more than 4,000 times, then it migrated to Facebook, vs where it’s been shared more than 2,500 times.

The Federal Reserve lists the increases on its website. There are also press releases for each of nine as well.

Also, Jerome Powell, whom Trump nominated to be chairman of the Federal Reserve, has voted for each of them — first as a board member and then after he became the chairman in early 2018. So, Trump chose Powell to lead the central bank after he had voted for five interest rate increases.

This is not a Trump vs Obama or a Trump vs Biden argument.

There is very little in differences between any of their monetary policies.

 

[healthmyths]

Because it wasn't a moratorium on exploration.

The pause in lease sales doesn't effect the current price, neither did the accelerated lease sales during the Trump administration.

OH boy ....

Biden orders indefinite moratorium on new oil and gas leasing on federal lands​

President Biden issued an order that mandates a “pause” on new oil and gas leasing on federal lands, onshore and offshore, “to the extent consistent with applicable law,” while a comprehensive review of oil and gas permitting and leasing is conducted by the Interior Department.

StackPath

www.ogj.com

Why are you so unable to be intelligent? Admit it. But again... people like you when confronted with FACTS.. do this!

 

[Nostra]

OH boy ....

Biden orders indefinite moratorium on new oil and gas leasing on federal lands​

President Biden issued an order that mandates a “pause” on new oil and gas leasing on federal lands, onshore and offshore, “to the extent consistent with applicable law,” while a comprehensive review of oil and gas permitting and leasing is conducted by the Interior Department.

StackPath

www.ogj.com

Why are you so unable to be intelligent? Admit it. But again... people like you when confronted with FACTS.. do this!
View attachment 564901

Don't confuse that moron with facts. He doesn't do those.

 

[BlindBoo]

Why are you so unable to be intelligent? Admit it.

Don't confuse that moron with facts.

Still waiting on the answer to the question of how the accelerated lease sales during Trumpsbears term effected gas prices?

 

[healthmyths]

Still waiting on the answer to the question of how the accelerated lease sales during Trumpsbears term effected gas prices?

And once again you show how totally incoherent your thinking is!
How can you be waiting on an answer when you never asked the question?
That is so stupid!
First of all where did you come up with the idea of "accelerated lease sales"? Second what's that got to do with what the discussion has been i.e. Biden's shut down exploration on land that provides 25% of oil production. That's today's issue.
Nothing to do with Trump. Biden's action. Get it? As I agreed with you regarding the pandemic slowing demand down and now demand is up, where is your common sense and reasoning to comprehend what I'm pointing out that another contributor to 61% increase in gas prices at the pump because Biden's shut down exploration on Federal lands?
Why is that so hard to admit? I admitted because you were right about the pandemic because that is logical.
So too is Biden shutting down exploration on land that provides 25% of oil production has an effect. But you can't admit that!
WHY???

 

[BlindBoo]

First of all where did you come up with the idea of "accelerated lease sales"? Second what's that got to do with what the discussion has been i.e. Biden's shut down exploration on land that provides 25% of oil production. That's today's issue.

On U.S. Public Lands, Can Biden Undo What Trump Has Wrought?

President Joe Biden has an ambitious public lands agenda, vowing to ban new oil and gas drilling on federal territory and restore protections for key areas. But because of rules changes and a conservative makeover of the courts, reversing the Trump legacy will not be easy.

e360.yale.edu

There is no shut down in exploration. Production is up over a million barrels a day. The Active Rig Count has more than doubled this year as well.

 

[john doe 101]

In 2020, about 123.73 billion gallons (or about 2.95 billion barrels1) of finished motor gasoline were consumed in the United State

Frequently Asked Questions (FAQs) - U.S. Energy Information Administration (EIA)

www.eia.gov

There are 234,895,000 licensed-drivers-usa
Number of Licensed Drivers in US in 2021, How Many Americans Drive
Assuming these 234.9 million drivers, the United States Department of Transportation Federal Highway Administration said that the average person drove 14,263 miles per year in 2019

https://www.kbb.com/car-advice/average-miles-driven-per-year/

When we divide 2020's consumption of 123.73 billion gallons by the roughly 234 million licensed drivers, it adds up to 519 gallons per driver per year or 43 gallons per month.
Given the below that a gallon of gas has gone up since 1 year ago 59% the average American driver is seeing their gas cost taking
increase $55.38 per month from last year at this time.
That is $13,008,164,271 per month or $156.097 BILLION a year cost in living expenses Americans are now PAYING!
One REASON?
oil company planners look at the FACT that Biden cancelled on exploration leases on land that provides 25% of gas consumed by Americans!

Oil from federal lands tops 1B barrels as Trump eases rules

Oil production from federally-managed lands and waters topped a record 1 billion barrels last year

abcnews.go.com

Biden issues broad moratorium on oil and gas leases on federal lands and waters​

Biden issues broad moratorium on oil and gas leases on federal lands and waters

President Joe Biden implemented a moratorium on new oil and gas leases on federal lands and waters through an executive order on Jan. 27 that is expected to have a longer term impact on US production.

www.spglobal.com

View attachment 563197

So you are saying gas prices are up because some land where there might be oil wasnt explored?

You're mentally ill.

 

[healthmyths]

So you are saying gas prices are up because some land where there might be oil wasnt explored?

You're mentally ill.

Right! Like most idiots you make the above statement as the RULE. rather than the exception.
Biden's stopped leases for land that produces 25% of oil used in America.
Without that land, where then will oil exploration companies go?
They have to go to private lands that the owners KNOW like me, that the oil companies can't go to federal lands anymore.
So guess what these private land owners do? Up the prices.
And since most of oil production has been in a handful of states that have the majority of federal lands, there isn't much unexplored land for the oil companies.
So dummy where will these companies go? OFF shore!
OPEC as dummy Biden recently begged OPEC to increase production!
What a dumb thing and YOU think that's smart?

 

[john doe 101]

Right! Like most idiots you make the above statement the RULE rather than exception.
Of course not you dummy! Biden's stopped leases for land that produces 25% of oil used in America.
Without that land, where then will oil exploration companies go?
Private lands that KNOW like me and evidently you are so ill informed, that they can't go to federal lands anymore.
So guess what they do? Up the prices. And most of oil production has been in a handful of states that have the majority
of federal lands. So dummy where will these companies go? OFF shore! OPEC as dummy Biden recently begged OPEC
to increase production! What a dumb thing and YOU think that's smart?

Is English not your first language? Maybe you can resend that so it makes sense.

 

[healthmyths]

Is English not your first language? Maybe you can resend that so it makes sense.

Is English not your first language? Maybe you can resend that so it makes sense.

Not sure what your problem is are you still in 4th grade?

 

[AntonToo]

I've explained myself. Much of this inflation is because of the trillions and trillions pumped into the markets.

Interest rates should have went up under Obama.

?? There was no inflation problem under Obama, why the hell would interest rates be moved up?

 

[pknopp]

?? There was no inflation problem under Obama, why the hell would interest rates be moved up?

To keep what is happening now from happening.

 

[Sandy Shanks]

President Biden quietly goes about doing his job. As is the case with any country as large and as economically successful as ours, there are always problems.

The ones today would include inflation, a deadly pandemic contributing to the inflation woes and supply chain problem further contributing to inflation, and economic prosperity which exacerbates inflation. More payroll+more spending=inflation.

Add to that, a strange problem, a worker shortage as workers think they have the upper hand with employers and can pick and chose the work they want to do. Maybe the latter is a myth, but many workers believe it, hence a worker shortage in some areas of opportunity.

Add to this, another very strange problem making life difficult for our President, a strained relationship with his vice president, Kamala Harris.

"The buck stops here!" President Truman was the first to say that, and it is quite true with our current President.

What exactly does it mean?

Because of their horrible experience with former President Trump, Republicans are desperate to find fault with President Biden. So, they blame him for all our economic woes plus the border problem. The latter problem has been around for seven decades at least, but Republicans blame Biden anyway. They are desperate, after all.

"The buck stops here" does not mean the President caused the problem.

"The buck stops here" means the President will do everything within his power to alleviate the problem.

Which is exactly what our President is doing without fanfare and without conspiracies that so bedeviled the previous President ... conspiracies of his own making.

 

[AntonToo]

To keep what is happening now from happening.

....So Obama should have personally interfered with Federal Reserve to raise interest rates (and contract economy) in 2016 to get ready for 2021 inflation caused first and foremost by Covid in 2020.

 

[pknopp]

....So Obama should have personally interfered with Federal Bank to raise interest rates (and contract economy) in 2016 to get ready for 2021 inflation caused first and foremost by Covid in 2020.

It was aided by Covid but the foundation is the trillions and trillions pumped into the markets. He should have appointed a Fed Chairman that would have done the right thing. He should have appointed a Treasury Secretary that wasn't a stooge for the 1%.

Under Obama the rich got far richer, the middle class barely treaded water and the poor fell even further behind.

 

[AntonToo]

It was aided by Covid but the foundation is the trillions and trillions pumped into the markets. He should have appointed a Fed Chairman that would have done the right thing. He should have appointed a Treasury Secretary that wasn't a stooge for the 1%.

Under Obama the rich got far richer, the middle class barely treaded water and the poor fell even further behind.

The foundation is Covid that severely disrupted supply chains.

Yes the demand has been increased by stimulus during Trump and Biden admins, but the alternative of doing nothing while economy is on pause would have consequences much worse than some temporary inflation while supply chains get sorted out.

You attempt to blame any of this on Obama while carefully avoiding saying anything about Trump's 4 years before and during Covid is kinda laughable.

 

[pknopp]

The foundation is Covid that severely disrupted supply chains.

You can't pump, pump, pump, pump and not have inflation. This has been noted for years.

Yes the demand has been increased by stimulus during Trump and Biden admins, but the alternative of doing nothing while economy is on pause would have consequences much worse than some temporary inflation while supply chains get sorted out.

You attempt to blame any of this on Obama while carefully avoiding saying anything about Trump's 4 years before and during Covid is kinda laughable.

The repercussion would not have been worse. That's like arguing that the guy who couldn't even do his own taxes was the only person capable of handling the economy.