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Going The Way Of Venezuela? Inflation Worse Than 1st Thought, A Threat To Society

LordBrownTrout

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Come now, it makes more sense that 80 million people voted for food shortages, massive inflation, 10 dollar a gallon gas.
 

Nostra

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Yes, but now you're having problems with earthquakes in areas with heavy fracking. Plus groundwater pollution or damages.

Conservatives are fine with any level of damage as long as it makes money.
Link us up to all this groundwater pollution due to fracking.
 

Oldestyle

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Venezuela was a shithole before Chavez. While it was a wealthy nation when oil prices were high, it was also mismanaged successive corrupt administrations which failed to diversify the economy, and that wealth wasn't evenly held or distributed. It's a nation with one resource - oil. And with the collapse of oil prices around the world, it was easy for the autocrats to move in.

But conservatives are always pointing to second world countries for examples of "failed socialism" and ignore all of the successful socialist democracies in the world. You never compare yourselves to Canada, Norway, New Zealand or Germany - all successful first world socialist democracies, and all of which are doing far better than you are.
Venezuela has the largest oil reserves in the world, Dragonlady! Let me repeat that...they have the largest oil reserves in the world! More than Saudi Arabia...more than Iran and Iraq combined! It's hard to even fathom that a country with that kind of a resource could EVER become insolvent but as astounding as that is...Hugo Chavez managed to make that happen! How? By pushing the very same progressive agenda that Joe Biden and The Squad are pushing on the United States now!
 

Oldestyle

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Yes, but now you're having problems with earthquakes in areas with heavy fracking. Plus groundwater pollution or damages.

Conservatives are fine with any level of damage as long as it makes money.
Earthquakes were one of the boogieman threats that the left tried to scare people with in an attempt to kneecap the oil and gas boom that took place because of fracking. Show me where that actually happened, Dragonlady!
 

busybee01

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Biden declared his inflation was 'transitory, temporary...

It's NOT...it's getting worse...

But as the weeks tick by, the situation keeps getting worse and inflation is showing no signs of slowing down.

CNBC host Jim Cramer said Wednesday the numbers are "astounding."

Tudor Investment Founder Paul Jones:
"It's pretty clear to me that inflation is not transitory. It's here to stay. It's probably the single biggest threat...to society"

As usual he only quotes Cramer in part. This is what Cramer says about inflation.

“For all the comparisons to Weimar Germany or the stagflation of the [1970s], our current bout of inflation is unique,” the “Mad Money” host said, contending many of the root causes of the semiconductor shortage, supply chain disruptions, rising home prices and higher wages are related, in various ways, to Covid and fear of the disease.

“Prices are going up across the board because people don’t want to die; they don’t want their families to die; they don’t want long-term health complications,” Cramer said. “I think you cure this inflation not with higher rates, but with Pfizer, Moderna and J&J,” he added, referring to the trio of companies behind the Covid vaccines available in the U.S.

“The good thing about a labor shortage is that it’s simple to fix: You just need to offer people more money,” Cramer said. “Of course, that’s expensive. This is a structural issue, not a transient one. But just because it’s not transient, that doesn’t mean the Fed can solve it. If anything, it might get worse in a weaker economy, meaning you can’t fix this shortage with higher rates no matter what the hedge funds tell you.”


Cramer agrees that that inflation is transitory. If you want to quote someone then you need to look at the totality of it not just take one quote to prove your point.
 

busybee01

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Dude, gas wasn't $3.40 a gallon before the pandemic! Using that as an excuse...which you on the left are doing non stop at the moment is getting really tired.
Don't you think it's time you took responsibility for what your "green agenda" is going to do the country? You're hiding behind the pandemic and it's getting ridiculous.

What is going on is that shale oil producers are conspiring with OPEC to keep production low. That is why oil prices are spiking.
 

busybee01

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Gas at the pump today was $3.35. Thanks liberals.
You think things are bad now? Wait until the Democrats start dumping trillions more into the economy with their "Build Back Better" happy horseshit! Joe Biden is going to go down in history as the worst President EVER when it comes to the economy! Who's advising these idiots? Hasn't ANYONE in the Biden Administration taken Macro Economics?

Lifting children out of poverty is bad. Helping people with childcare costs is bad. Trying to help people with skyrocketing housing is bad. Yet we are prepared to spend $750 billion in 1 year on defense spending. Assuming ot does not go up 1 cent, that is $7 trillion over 10 years. We just gave huge tax cuts to the rich and powerful. That is supposedly good.
 

busybee01

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Venezuela has the largest oil reserves in the world, Dragonlady! Let me repeat that...they have the largest oil reserves in the world! More than Saudi Arabia...more than Iran and Iraq combined! It's hard to even fathom that a country with that kind of a resource could EVER become insolvent but as astounding as that is...Hugo Chavez managed to make that happen! How? By pushing the very same progressive agenda that Joe Biden and The Squad are pushing on the United States now!

Worth noting that Venezuela has a state owned oil company. All oil companies in the US are privately known.
 

busybee01

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That would be Florida. The price of a gallon of regular gas back then was $1.85...now it's $3.40 and going higher almost daily! Thanks, Joe and Kamala! It's like we're paying a "stupid tax" every time we fill up at the pumps! You liberals OWN that!

It is shale oil drillers who are conspiring with OPEC to keep production low. Doubt there are many Democrats there.
 

maybelooking

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What is going on is that shale oil producers are conspiring with OPEC to keep production low. That is why oil prices are spiking.
They only do this during democrat presidencies I suppose!
 

maybelooking

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Lifting children out of poverty is bad. Helping people with childcare costs is bad. Trying to help people with skyrocketing housing is bad. Yet we are prepared to spend $750 billion in 1 year on defense spending. Assuming ot does not go up 1 cent, that is $7 trillion over 10 years. We just gave huge tax cuts to the rich and powerful. That is supposedly good.
what's your number for defense spending precisely?
 

busybee01

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So what you're claiming is that there is more demand NOW than there was before the pandemic? Kindly explain why the price of gas was so much lower THEN than it is now? I'll wait...

There is more demand now than a year ago. In addition, OPEC was on the verge of breaking up. Trump brokered a deal with OPEC+ to cut production. In addition shale oil producers are conspiring with OPEC to keep production low.
 

busybee01

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Prove you are a liar, huh? I do it on a regular basis, so let me do it again. I'll just pull two of your many lies out of this post:

The USA is the world's worst police state, the world's largest wage and wealth gap, and the only country in the first world where life expectancy is declining.


Based on the most recent Gini index estimated from the World Bank, the five most unequal countries, in terms of wealth, are:

  1. South Africa (.634)
  2. Namibia (.610)
  3. Haiti (.608)
  4. Botswana (.605)
  5. Central African Republic (.562)



The US is the ONLY country where life expectancy is declining?

Here are 11 EU countries where life expectancy fell.....................

View attachment 555051


US life expectancy is actually going up, Liar.

WHAT IS THE 2021 AVERAGE LIFE EXPECTANCY IN US?​

US life expectancy increased by 0.1% to 78.7 years over 2017 estimates according to the CDC.

The age-adjusted death rate fell 8.3 people from 731.9 deaths (2017) per 100,000 to 723.6 deaths in 2018. In 2020 the CIA estimated the US death rate at 8.35 people per 1,000 US citizens.


The wealth gap in this country is rapidly increasing. The Federal Reserve released statistics that show the top 1% now own 27% of the nation's wealth while the middle 60% own 26.7%. This is the first time that has ever happened in the 3 decades the Fed has tracked this.


In 1989, the top 1 percent controlled 17.2 percent of the nation’s wealth, whereas the middle 60 percent controlled 36.4 percent.
 

busybee01

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Come now, it makes more sense that 80 million people voted for food shortages, massive inflation, 10 dollar a gallon gas.

This has nothing to do with Biden. It is the unvaccinated who are keeping the pandemic going. In addition, workers are tired of being treated as slaves by big business.
 

surada

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Venezuela has the largest oil reserves in the world, Dragonlady! Let me repeat that...they have the largest oil reserves in the world! More than Saudi Arabia...more than Iran and Iraq combined! It's hard to even fathom that a country with that kind of a resource could EVER become insolvent but as astounding as that is...Hugo Chavez managed to make that happen! How? By pushing the very same progressive agenda that Joe Biden and The Squad are pushing on the United States now!


The thing that killed Chavez's plans was when the ppb crashed. However he did a good thing with Petro Caribe.
 

BasicHumanUnit

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Dude, gas wasn't $3.40 a gallon before the pandemic! Using that as an excuse...which you on the left are doing non stop at the moment is getting really tired.
Don't you think it's time you took responsibility for what your "green agenda" is going to do the country? You're hiding behind the pandemic and it's getting ridiculous.
For Lush and the others like her......it's not about responsibility......

They REALLY ARE THAT FUCKING STUPID.
 

Oldestyle

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Worth noting that Venezuela has a state owned oil company. All oil companies in the US are privately known.
Worth noting that the far left radicals running Venezuela managed to run that oil company into the ground.
 

Nostra

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The wealth gap in this country is rapidly increasing. The Federal Reserve released statistics that show the top 1% now own 27% of the nation's wealth while the middle 60% own 26.7%. This is the first time that has ever happened in the 3 decades the Fed has tracked this.


In 1989, the top 1 percent controlled 17.2 percent of the nation’s wealth, whereas the middle 60 percent controlled 36.4 percent.
So?

WTF does that have to do with my post proving Dragonlady is a lying sack of shit?
 

Jim H - VA USA

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Biden declared his inflation was 'transitory, temporary...

It's NOT...it's getting worse...

But as the weeks tick by, the situation keeps getting worse and inflation is showing no signs of slowing down.

CNBC host Jim Cramer said Wednesday the numbers are "astounding."

Tudor Investment Founder Paul Jones:
"It's pretty clear to me that inflation is not transitory. It's here to stay. It's probably the single biggest threat...to society"

Yellen says inflation will be down to 2% by end of 2022.

Think of what that means. Current prices will not decrease, they will increase sharply for another year, and then increase more moderately.

The high prices are hear to stay and will increase more.

Well done, Dems. You're controlling just about everything now, and just about everything is turning into a crisis.

Treasury Secretary Janet Yellen says inflation should be back to 2% by end of 2022 as she insist the US is not 'losing control of inflation'​

  • Treasury Secretary Janet Yellen assured the US is not 'losing control of inflation'
  • Told CNN on Sunday that the inflation rate should return to a more 'normal' 2 per cent by the middle to end of 2022
  • 'On a 12-month basis, the inflation rate will remain high into next year because of what's already happened,' she admitted
49123325-10125601-The_consumer_price_index_rose_5_4_in_September_from_last_year_up-a-27_1635102599075.jpg


49124949-10125601-Prices_are_up_on_a_wide_range_of_key_goods_as_high_inflation_con-a-28_1635102599415.jpg


 

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