Key inflation cause: Republican policy

[citygator]

You wrote:​

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Trump administration expands oil drilling despite shutdown​

Interior department continues processing permits and moves forward with controversial plan to increase drilling in the Arctic
Three weeks into the longest US government shutdown in history, many important government services have been paused – but the Trump administration has continued efforts to expand oil drilling.

Despite the shutdown directive, which has seen national park staff furloughed and the parks suffering from neglect, the interior department has continued processing oil drilling permits and applications. It has also moved forward with a controversial plan to increase drilling in the Arctic National Wildlife Refuge and the National Petroleum Reserve-Alaska (NPR-A).
In Alaska, the Trump administration is rolling out a contentious plan to overwrite Obama-era protections and expand the oil and gas leasing in two controversial areas, the wildlife refuge and the NPR-A. Since the shutdown began, the interior department moved forward with previously scheduled public meetings to educate stakeholders and provide opportunities for comment and discussionIn Alaska, the Trump administration is rolling out a contentious plan to overwrite Obama-era protections and expand the oil and gas leasing in two controversial areas, the wildlife refuge and the NPR-A. Since the shutdown began, the interior department moved forward with previously scheduled public meetings to educate stakeholders and provide opportunities for comment and discussion

Trump administration expands oil drilling despite shutdown

Interior department continues processing permits and moves forward with controversial plan to increase drilling in the Arctic

www.theguardian.com

Figures don’t lie. 683 when he took over. 325 when he left.

U.S. Crude Oil and Natural Gas Rotary Rigs in Operation (Number of Elements)

 

[sealybobo]

They won't listen or admit anything.

U.S. crude oil exports and refined product exports are both are record highs, at 3.4 million bpd and 3 million bpd respectively. Meanwhile, crude oil imports are declining, falling to 1.1 million bpd in November compared to 7 million bpd five years ago.Dec 20, 2022

The U.S. Could Become A Net Oil Exporter In 2023​

https://oilprice.com › Energy › Energy-General





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U.S. poised to become net exporter of crude oil in 2023 | Reuters​

https://www.reuters.com › business › energy › us-poised-...


Dec 19, 2022 — HOUSTON, Dec 19 (Reuters) - The United States has become a global crude oil exporting power over the last few years, but exports have not ...

You know what causes inflation? Corporate Profits.



There is a formula for what causes inflation, and it's very simple. It is costs plus corporate profits. That's how you get inflation. If costs increase for a company because workers want higher wages or because the cost of raw materials go up, you can get inflation. If corporate profits go up, you can get inflation. Now, you may remember a lot of economists last year saying that corporations or corporate greed was not driving inflation, but

Normally profits contribute less than a third to inflation. But, he found that in 2021, corporate profits could account for about double that, nearly 60% of inflation, meaning it was not costs driving inflation. It was corporate profits. Now, some economists hear this and think this is proof that companies were just using inflation as an excuse to gouge customers. Andrew does not think this. He thinks companies likely raised prices not because their costs went up in 2021 - because they did not, really - but because they were anticipating that their costs would go up a lot in 2022.

If we were to get in a situation where not only in 2021 did firms expect higher inflation but in 2022, they expected it, 2023, they expected it, then we very well could end up in a world where profits are always a major contributing force to inflation.

 

[Stann]

Figures don’t lie. 683 when he took over. 325 when he left.

U.S. Crude Oil and Natural Gas Rotary Rigs in Operation (Number of Elements)

View attachment 751804

The economy was in the shitter. We didn't need to import a lot of oil because nothing was happening. That's the main reason why we have those figures.

 

[Cellblock2429]

You know what causes inflation? Corporate Profits.



There is a formula for what causes inflation, and it's very simple. It is costs plus corporate profits. That's how you get inflation. If costs increase for a company because workers want higher wages or because the cost of raw materials go up, you can get inflation. If corporate profits go up, you can get inflation. Now, you may remember a lot of economists last year saying that corporations or corporate greed was not driving inflation, but

Normally profits contribute less than a third to inflation. But, he found that in 2021, corporate profits could account for about double that, nearly 60% of inflation, meaning it was not costs driving inflation. It was corporate profits. Now, some economists hear this and think this is proof that companies were just using inflation as an excuse to gouge customers. Andrew does not think this. He thinks companies likely raised prices not because their costs went up in 2021 - because they did not, really - but because they were anticipating that their costs would go up a lot in 2022.

If we were to get in a situation where not only in 2021 did firms expect higher inflation but in 2022, they expected it, 2023, they expected it, then we very well could end up in a world where profits are always a major contributing force to inflation.

/----/ So, corporations made no profits when inflation was 1.5% -- got it.

 

[sealybobo]

The economy was in the shitter. We didn't need to import a lot of oil because nothing was happening. That's the main reason why we have those figures.

That's true I never thought of that. How much gas did we not use during the pandemic? The price should have been $1 a gallon. But corporate profits factor in. So in the future when a Republican tries to explain to you supply and demand, explain to him about corporate profits. I say him because there aren't very many dingbat women who are Republicans who can have this conversation. It's like trying to find 9 other guys like Kaitlyn Jenner who also vote Republican. Rare. Almost unicorn rare.

 

[sealybobo]

/----/ So, corporations made no profits when inflation was 1.5% -- got it.

No they made plenty of profit. But when they thought things were getting bad, they raised prices before it happened. And when it didn't happen, oops. Looks like they gouged us but in reality, they were just passing on the increased prices to us. Even though they never occurred. And prices never went back down. So maybe we need to tax profits over a certain amount. That will keep their greed in check.

 

[sealybobo]

/----/ So, corporations made no profits when inflation was 1.5% -- got it.

This guys an economist at the Federal Reserve. He said

Normally profits contribute less than a third to inflation. But, he found that in 2021, corporate profits could account for about double that, nearly 60% of inflation, meaning it was not costs driving inflation. It was corporate profits driving inflation in 2021.

He goes on to say, Now, some economists (and sealybobo) hear this and think this is proof that companies were just using inflation as an excuse to gouge customers. Andrew does not think this. He thinks companies likely raised prices not because their costs went up in 2021 - because they did not, really - but because they were anticipating that their costs would go up a lot in 2022.

So not only in 2021 did firms expect higher inflation but in 2022, they expected it, 2023, they expected it, then we very well could end up in a world where profits are what's driving inflation.

 

[bripat9643]

You know what causes inflation? Corporate Profits.



There is a formula for what causes inflation, and it's very simple. It is costs plus corporate profits. That's how you get inflation. If costs increase for a company because workers want higher wages or because the cost of raw materials go up, you can get inflation. If corporate profits go up, you can get inflation. Now, you may remember a lot of economists last year saying that corporations or corporate greed was not driving inflation, but

Normally profits contribute less than a third to inflation. But, he found that in 2021, corporate profits could account for about double that, nearly 60% of inflation, meaning it was not costs driving inflation. It was corporate profits. Now, some economists hear this and think this is proof that companies were just using inflation as an excuse to gouge customers. Andrew does not think this. He thinks companies likely raised prices not because their costs went up in 2021 - because they did not, really - but because they were anticipating that their costs would go up a lot in 2022.

If we were to get in a situation where not only in 2021 did firms expect higher inflation but in 2022, they expected it, 2023, they expected it, then we very well could end up in a world where profits are always a major contributing force to inflation.

Nope. Deficit spending is what causes inflation

 

[miketx]

No they made plenty of profit. But when they thought things were getting bad, they raised prices before it happened. And when it didn't happen, oops. Looks like they gouged us but in reality, they were just passing on the increased prices to us. Even though they never occurred. And prices never went back down. So maybe we need to tax profits over a certain amount. That will keep their greed in check.

You don't know shit.

 

[sealybobo]

Nope. Deficit spending is what causes inflation

It's one thing that causes inflation yes.

But so can corporate profits. If corporations anticipate their costs are going to go up next year, so they increase their prices just in case, and their costs don't go up, they may have indeed caused inflation.

Inflation expectations are the beliefs that households and firms have about future price increases. They are important because expectations about future price increases can affect current economic decisions that can influence actual inflation outcomes. For example, if firms expect future inflation to be higher and act on those beliefs, they may raise the prices of their goods and services at a faster rate. Similarly, if workers expect future inflation to be higher, they may demand higher wages to make up for the expected loss of their purchasing power. These behaviours, sometimes called ‘inflation psychology’, can contribute to a higher rate of actual inflation so that expectations about inflation become self-fulfilling.

 

[sealybobo]

You don't know shit.

True. So I listen to this guy who works for the Federal Reserve and he enlightened me. Turns out corporate profits can cause inflation too

Inflation expectations are the beliefs that households and firms have about future price increases. They are important because expectations about future price increases can affect current economic decisions that can influence actual inflation outcomes. For example, if firms expect future inflation to be higher and act on those beliefs, they may raise the prices of their goods and services at a faster rate. Similarly, if workers expect future inflation to be higher, they may demand higher wages to make up for the expected loss of their purchasing power. These behaviours, sometimes called ‘inflation psychology’, can contribute to a higher rate of actual inflation so that expectations about inflation become self-fulfilling.

 

[Votto]

You know what causes inflation? Corporate Profits.



There is a formula for what causes inflation, and it's very simple. It is costs plus corporate profits. That's how you get inflation. If costs increase for a company because workers want higher wages or because the cost of raw materials go up, you can get inflation. If corporate profits go up, you can get inflation. Now, you may remember a lot of economists last year saying that corporations or corporate greed was not driving inflation, but

Normally profits contribute less than a third to inflation. But, he found that in 2021, corporate profits could account for about double that, nearly 60% of inflation, meaning it was not costs driving inflation. It was corporate profits. Now, some economists hear this and think this is proof that companies were just using inflation as an excuse to gouge customers. Andrew does not think this. He thinks companies likely raised prices not because their costs went up in 2021 - because they did not, really - but because they were anticipating that their costs would go up a lot in 2022.

If we were to get in a situation where not only in 2021 did firms expect higher inflation but in 2022, they expected it, 2023, they expected it, then we very well could end up in a world where profits are always a major contributing force to inflation.

Nope, what causes inflation is Putin and the Dobbs Decision and Trump.

Oh, and don't forget about the Zionists, they are bad too.

Gotta cover all the left wing looney talking points in one breath.



What I loved the most is when Biden said there was nothing he could do about inflation as it spiraled out of control under his watch. Then he passed an inflation bill, why I don't know if there is nothing he can do about it.

Sure enough, his inflation bill did nothing to curb it, and arguably made inflation worse with all the climate spending attached to it.

Biden is a genius.

 

[Stann]

/----/ So, corporations made no profits when inflation was 1.5% -- got it.

No, but now they're gouging the American people with the excuses of trade supply problems, inability to hire enough new skilled workers, etc. Etc. The little guy always pays in the end.

 

[Cellblock2429]

No, but now they're gouging the American people with the excuses of trade supply problems, inability to hire enough new skilled workers, etc. Etc. The little guy always pays in the end.

/——-/ Then why do libs screech raise corporate taxes which would force them to raise prices which would increase inflation even more???? WHY WHY WHY?

 

[healthmyths]

You know what causes inflation? Corporate Profits.



There is a formula for what causes inflation, and it's very simple. It is costs plus corporate profits. That's how you get inflation. If costs increase for a company because workers want higher wages or because the cost of raw materials go up, you can get inflation. If corporate profits go up, you can get inflation. Now, you may remember a lot of economists last year saying that corporations or corporate greed was not driving inflation, but

Normally profits contribute less than a third to inflation. But, he found that in 2021, corporate profits could account for about double that, nearly 60% of inflation, meaning it was not costs driving inflation. It was corporate profits. Now, some economists hear this and think this is proof that companies were just using inflation as an excuse to gouge customers. Andrew does not think this. He thinks companies likely raised prices not because their costs went up in 2021 - because they did not, really - but because they were anticipating that their costs would go up a lot in 2022.

If we were to get in a situation where not only in 2021 did firms expect higher inflation but in 2022, they expected it, 2023, they expected it, then we very well could end up in a world where profits are always a major contributing force to inflation.

Please explain was corporate profits were LESS under Trump then under Biden?
Or did corporations i.e. small businesses also, see Biden as anti profits and decided to raise their margins so as to cover the expenses THEY were anticipating
other businesses would anticipate i.e. for example oil companies were charged more by refineries that charged more to gas stations that charged more?
So please explain the chart that the CBO published regarding Federal tax revenue increasing more after
Trump tax cuts while inflation was nearly 200% lower under Trump i.e. average inflation for 4 years.. 1.90% inflation

VS Biden inflation for just 18 months of 6.1% ?
Please explain how that happened.

 

[Stann]

/——-/ Then why do libs screech raise corporate taxes which would force them to raise prices which would increase inflation even more???? WHY WHY WHY?

Because trump put them so low none of the major corporations paid any taxes. They all got dumped on us. Plus the federal government is on shakey ground because it lost so much of it's revenue stream.

 

[Cellblock2429]

Because trump put them so low none of the major corporations paid any taxes. They all got dumped on us. Plus the federal government is on shakey ground because it lost so much of it's revenue stream.

/---/ OK, you're just pulling crap out of your ass and posting it as fact. What source do you have that no major corporation paid taxes?

 

[bripat9643]

It's one thing that causes inflation yes.

But so can corporate profits. If corporations anticipate their costs are going to go up next year, so they increase their prices just in case, and their costs don't go up, they may have indeed caused inflation.

Inflation expectations are the beliefs that households and firms have about future price increases. They are important because expectations about future price increases can affect current economic decisions that can influence actual inflation outcomes. For example, if firms expect future inflation to be higher and act on those beliefs, they may raise the prices of their goods and services at a faster rate. Similarly, if workers expect future inflation to be higher, they may demand higher wages to make up for the expected loss of their purchasing power. These behaviours, sometimes called ‘inflation psychology’, can contribute to a higher rate of actual inflation so that expectations about inflation become self-fulfilling.

Nope. How do corporate profits increase the supply of money? To have inflation you have to have more money in circulation. Expectations can't do anything more than cause temporary fluctuations.

 

[Stann]

/---/ OK, you're just pulling crap out of your ass and posting it as fact. What source do you have that no major corporation paid taxes?

Don't you ever listen to the news, or in your case, I might have to say the real news. www.nbcnews.com Twice as many companies paying zero taxes under trump tax bill. It's a matter of public record you can look it up for yourself. Unless you can pull a rabbit out of your ass.

 

[bripat9643]

Because trump put them so low none of the major corporations paid any taxes. They all got dumped on us. Plus the federal government is on shakey ground because it lost so much of it's revenue stream.

Lost revenue stream? That's not what the budget shows, numskull.