The Coming Recession

[Mac-7]

From now on my efforts and contributions are going on my kids' behalf, not mine.

You should have thought of the kids 2 years ago

Instead you threw a tantrum and voted for biden

 

[Big Bend Texas]

What Biden policy is responsible for inflation?

Only a straight up retard would think our problems were all created in the past year.

The more than 50 executive actions he took immediately after taking office to start choking off the petroleum supply began it.

Average Price: Gasoline, Unleaded Regular (Cost per Gallon/3.785 Liters) in U.S. City Average

Graph and download economic data for Average Price: Gasoline, Unleaded Regular (Cost per Gallon/3.785 Liters) in U.S. City Average (APU000074714) from Jan 1976 to Mar 2024 about energy, gas, retail, price, and USA.

fred.stlouisfed.org

 

[Care4all]

The more than 50 executive actions he took immediately after taking office to start choking off the petroleum supply began it.

Average Price: Gasoline, Unleaded Regular (Cost per Gallon/3.785 Liters) in U.S. City Average

Graph and download economic data for Average Price: Gasoline, Unleaded Regular (Cost per Gallon/3.785 Liters) in U.S. City Average (APU000074714) from Jan 1976 to Mar 2024 about energy, gas, retail, price, and USA.

fred.stlouisfed.org

You didn't read the thread???

Domestic oil production increased by 31 percent in Biden's first year. It only increased by 21 percent in Trump's first year.

Biden approved more leases than Trump or Obama in his first year.

Stop drinking the piss of your lying propagandists.

Saudi Arabia and other countries are producing LESS oil than during the pandemic, when oil production was at record lows. Think about the effect of that, dipshit.

 

[Big Bend Texas]

You didn't read the thread???

Irrelevant, he didn't turn off wells that were already in production, he took actions to prevent or slow the drilling of new wells.

You don't understand the oil industry at all.

 

[Big Bend Texas]

You didn't read the thread???

Crude Oil - Price - Chart - Historical Data - News

Crude Oil increased 7.08 USD/BBL or 9.88% since the beginning of 2024, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Crude Oil - values, historical data, forecasts and news - updated on May of 2024.

tradingeconomics.com

As global demand goes up if production doesn't keep pace guess what happens, that's right, the price goes up!

That's why Biden has been begging the Saudis to increase production but refuses to do anything to increase production at home.

 

[Care4all]

Crude Oil - Price - Chart - Historical Data - News

Crude Oil increased 7.08 USD/BBL or 9.88% since the beginning of 2024, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Crude Oil - values, historical data, forecasts and news - updated on May of 2024.

tradingeconomics.com

As global demand goes up if production doesn't keep pace guess what happens, that's right, the price goes up!

That's why Biden has been begging the Saudis to increase production but refuses to do anything to increase production at home.

Production is increasing at home....

The Saudis are playing the games that hurt us all

 

[LeftofLeft]

There are some people who will forever be stuck in partisan hackery. It is impossible for them to realize this mess was a long term bipartisan effort.

It does take a bipartisan effort to stop running up debt which means to stop spending. The best analogy as mentioned in the thread is when you have credit cards you, you can’t keep up with payments, yet you keep spending.

The egregious spending needs to cease. $10 Million does not needs to go to gender studies in Pakistan.

 

[Lesh]

It does take a bipartisan effort to stop running up debt which means to stop spending. The best analogy as mentioned in the thread is when you have credit cards you, you can’t keep up with payments, yet you keep spending.

The egregious spending needs to cease. $10 Million does not needs to go to gender studies in Pakistan.

Until such time as a Republican is in the White House when all concerns about debt will cease...again

 

[DBA]

Until such time as a Republican is in the White House when all concerns about debt will cease...again

Both parties spend too much. That much I will grant you, however, Democrats spend AND ruin the country in one ”fail”(yes, FAIL) swoop. At least Republican’s policies put our country on the right track to continue our world dominance, minus the debt. There is absolutely NO reason to vote for the current crop of Democrats if you love the US. If you are pro-every other country in the world, then Democrats are the way to go.

 

[JoeB131]

Biden's executive order banning new drilling leases on federal lands, pursued more than $20 billion in new energy taxes on oil and natural gas production, and vetoed permitting for the Keystone XL pipeline.

$20 billion is a drop in the bucket in the 187 BILLION in revenues the oil industry makes.
The oil industry is sitting on 9800 federal leases they aren't using....
They are making a profit right now because they can.

After spending trillions in 2020 to fight the COVID-19 pandemic, the Biden administration passed an unnecessary, additional $1.9 trillion spending bill in March.

Which has worked just fine, we are down to 3.6% unemployment. That's awesome.

Almost a year after this last funding bill was passed, $1 trillion in COVID-19 funding has not been spent and $500 billion hasn’t even been allocated. The Biden spending bill also included extended a federal program that paid people not to work for months.

So what?

States that continued to participate in additional unemployment benefit programs experienced a 0.8 percent higher unemployment rate in July and a 0.7 percent higher unemployment rate in August than they would have if they suspended benefits. In states that terminated the program early, the flow of unemployed workers into employment increased by two-thirds.

Actually, not really true. In fact, ending benefits early had no effect in the red states that did it.

 

[JoeB131]

Both parties spend too much. That much I will grant you, however, Democrats spend AND ruin the country in one ”fail”(yes, FAIL) swoop. At least Republican’s policies put our country on the right track to continue our world dominance, minus the debt. There is absolutely NO reason to vote for the current crop of Democrats if you love the US. If you are pro-every other country in the world, then Democrats are the way to go.

Did all that inbreeding make you stupid, Cleetus? Reagan TRIPLED the national debt. Bush doubled it by putting wars on a credit card. Trump ran up more debt in four years than Obama did in eight!

There's one good reason to not vote for Republicans. They fuck it up. Inevitably.

 

[JoeB131]

Another way to lower inflation is to take money out of the economy. The Fed does this by reducing their quantitative easing.

When the bonds the Fed owns mature, they stop rolling them over into new bonds. Instead, they just burn the cash from the matured bonds.

If the Fed stops buying new bonds, the bond market starts to fizzle. Bond sellers have to offer higher interest rates.

Our federal government finances its wild spending...with bonds.

You can see where this is going.

Recession.

Here's the underlying problem.

The reason why inflation is high now, is because the demographics of the job market have changed. We have more baby boomers retiring right now than we have new workers to replace them, and America is not as inviting to immigrants as it once was. So with a smaller and smaller labor pool, companies have to offer more money to get less talent. Covid made things worse in that a lot of people realized they liked staying at home compared to doing a job and paying for child care, which is impossible to find now because people are getting out of that industry.

Parents who used to send their kids off to work minimum wage jobs are now reluctant to do so and expose them to Covid. Bad bosses during Covid got people running to the doors, hence the "Great Resignation".

While in the past, the Fed would raise interest rates at even the hint of inflation, they've avoided doing so since 2008, as you said. But I really don't see how ending quantitative easing solves the above problem. People able and willing to work are still going to be at a premium.

What is needed is a better balance between the investor class and the working class... but the fact the investor class is fine with a 'recession" to solve the problem of the wage slaves wanting a fair wage is probably part of the problem.

 

[Fort Fun Indiana]

The more than 50 executive actions he took immediately after taking office to start choking off the petroleum supply began it.

Average Price: Gasoline, Unleaded Regular (Cost per Gallon/3.785 Liters) in U.S. City Average

Graph and download economic data for Average Price: Gasoline, Unleaded Regular (Cost per Gallon/3.785 Liters) in U.S. City Average (APU000074714) from Jan 1976 to Mar 2024 about energy, gas, retail, price, and USA.

fred.stlouisfed.org

No it didn't. This is nonsense and just a right wing fantasy. The data has been posted.

 

[initforme]

The thing is the Uber wealthy won't have to take any bite of the sandwich. In fact they'll be alot better off during the recession. And many will just get in line and worship. It truly is a phenomenon.

 

[Sandisk]

Yep, best to get ahead of the coming shit-storm and blame someone, Bidung is running out of people to blame.

The guy is talking about the Fed you buffoon.
Not EITHER party.
IDIOT!!!

If you are too stupid to even read properly - go and waste someone else's time.

 

[DBA]

Did all that inbreeding make you stupid, Cleetus? Reagan TRIPLED the national debt. Bush doubled it by putting wars on a credit card. Trump ran up more debt in four years than Obama did in eight!

There's one good reason to not vote for Republicans. They fuck it up. Inevitably.

There is a reason you poor folks remain poor and continue voting for Democrats. You just aren’t very smart.

 

[DBA]

Which has worked just fine, we are down to 3.6% unemployment. That's awesome.

Weird that unemployment is so low and yet businesses are having such a hard time finding workers. I am not talking about baby boomer jobs, I am talking about jobs typically filled by the high school up to mid-twenties crowd.

BTW, the unnecessary spending plan was the impetus to this wonderfully high inflation. Maybe you get your economic information from the same people that told you this inflation was transitory. You may want to change sources…i.e. turn of CNN and MSNBC for a few minutes.

 

[JoeB131]

Weird that unemployment is so low and yet businesses are having such a hard time finding workers. I am not talking about baby boomer jobs, I am talking about jobs typically filled by the high school up to mid-twenties crowd.

Not unusual at all. Used to be that parents would make their kids take these jobs as teens to "learn how the working world works." Now, parents are pretty reluctant to send their kids to work at a minimum wage job and get exposed to Covid.

BTW, the unnecessary spending plan was the impetus to this wonderfully high inflation. Maybe you get your economic information from the same people that told you this inflation was transitory. You may want to change sources…i.e. turn of CNN and MSNBC for a few minutes.

Actually, I've watch Fox News, and frankly, they just aren't that intelligent... they really dumb down the reporting to reach the Cleetus demographic.

Inflation is high internationally, because of increased consumer demand. For instance, a company I consult for on supply chain buys steel components from Asia. The cost of steel has increased 185% on the INTERNATIONAL market since January 2021. Same with petroleum, plastics, corrugated boxes.

 

[JoeB131]

There is a reason you poor folks remain poor and continue voting for Democrats. You just aren’t very smart.

I'm going to have my first six figure year this year. (At least on paper...expenses will probably bring that down a bit. Taxes should be interesting).

The reality is, I did well under Clinton, I did well under Obama... It's when you get a Bush or a Trump in there that things are fucked up. They inevitably bring recessions.

 

[initforme]

Kids don't need to be working.