Incoming Recession - Page 2 - Politics Forum.org | PoFo

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By Rancid
#15207253
JohnRawls wrote:Higher housing demand is good if it is the citizens of your own country buying them and not people who just want to resell or invest.



It's mostly people buying and investing in housing to resell. That is exactly the problem. We treat hosing as an investment first, and housing second. Slum lords and property developers, fuck them all. The easy money is allowing more of these people to amass more properties, as they amass them, they are pushing up rents (and mortgages). This allows those with money (i.e. the rich) to price out more and more people. It's fewer people/companies buying up more and more properties. Turning more and more people into the forever renter class.

EAT THE LANDED GENTRY!

RAISE THOSE INTEREST RATES!

The housing industry needs to become less profitable and less predatory. It is sucking away too much money from people.
By Istanbuller
#15207267
late wrote:You don't know what you're talking about...

The rising debt levels dropped the value of the dollar. This was largely the result of military spending, which has been mostly bipartisan. I first noticed that in 1973, it started earlier...

Republican tax cuts, over the last 40 years, played a role, as did spending on war. We spent over 4 trillion on Iraq alone.

The timing of the Trump tax cut was particularly bad, thanks to the pandemic.

When Biden took office we had a choice. We risked inflation, or deflation. Economists are a lot more afraid of deflation.

Which is to say what Biden did was a reasonable response to the crisis. Most economists expect the inflation to abate as things get better.

USA's military spending on overseas wars took several years. This led to minimize effects of it while Biden spends trillions of dollars in just a year. That caused inflation to skyrocket to a point never seen in last 40 years. Do you get it now?

Republican tax cuts helped US companies to survive and compete with foreign rivals. That is a nice thing.

Deflation has never been a problem. It is a very good thing. People are able to more things with less money. That is wonderful thing.
By Istanbuller
#15207271
colliric wrote:Alot of economists in the US don't believe the inflation problem will be solved by the government. Alot of them are pushing "guess what" as the solution, or hedge, to inflation.

Things will get more messy and corrupt when the government intervenes. I watched this movie before but it never gets old. It is worth to watch how they will try to fix consequences of their bad policies with new bad policies. 8)

Biden is faking economic growth with government spending while China is doing real economic activities (producing and selling).
By late
#15207283
Istanbuller wrote:

Deflation has never been a problem. It is a very good thing. People are able to more things with less money. That is wonderful thing.



"There have been several deflationary periods in U.S. history, including between 1817 and 1860, and again between 1865 to 1900. ... The most recent example of deflation occurred in the 21st century, between 2007 and 2008, during the period in U.S. history referred to by economists as the Great Recession."
https://www.investopedia.com/ask/answers/040715/were-there-any-periods-major-deflation-us-history.asp

Deflation can get out of control, and it's notoriously hard to control. In the Great Depression roughly 1/3 of the money simply vanished. Millions lost jobs, people started to starve.

Look, kid, I am trying to be nice, but you just jumped from a backyard wading pool, into the ocean, a long ways from shore. You are way, way out of your depth.
#15208648
colliric wrote:This is what happens when you go from a president that understands financial markets and how dire the current financial situation is in the United States and the fact it needs to be fixed fast, to one that doesn't even know what day of the week it is.


Lmao

Trump once called Flynn, the Q general, in the middle of the night to ask if a weak American dollar was good or bad for manufacturing.

Also if Biden is senile, then that means Trump had his victorious presidential election stolen by a man with the mind of a toddler. I fully support the idea that Trump is a weak little bitch who had the election yanked out of his hands by a drooling simpleton.
By late
#15213232
ckaihatsu wrote:
(Just for the record I think there's a lot of hype around the CPI right now, while *regular* interest rates (federal funds rate), remain at historic lows.)



One of the thousands of things Rightys don't get is that temporary price increases will show up in inflation stats... temporarily...

If they actually wanted to go after inflation (instead of just whining) they'd support regulation to stop the financial sector from buying up the housing market. Then they'd tax the rich at sane levels. Republicans have been throwing trillions at the rich since the 80s, and all that money will keep creating bubbles. Republicans do love to create disasters.
By late
#15213233
BlutoSays wrote:.

3) Here comes $7 gas prices, warns oil strategist in dire outlook

2) Lumber used primarily for framing adds more than $18K to new home costs

1) Biden Energy Policies Added $1,000 to Typical Household’s Costs in 2021



1) While I couldn't see most of that, it's from the Heartland Institute, a Koch propaganda
outlet.

2) Do you know who started that trade war? His name rhymes with rump...

3) Oil is a commodity, the price fluctuates. A lot. Glad I drive a Prius.
User avatar
By BlutoSays
#15213234
Source: https://seekingalpha.com/article/447602 ... nal-energy

"US energy policy means dependence

It is no surprise that the open interest metric in NYMEX futures declined with the price. Trend-following longs likely exited positions as the price fell. However, another possible explanation is the shift in US energy policy, causing lower output levels and less producer hedging in the futures arena. The drop took the metric to its lowest level in half a decade.

The Biden administration canceled the Keystone XL pipeline in January 2021. In May, it banned drilling and fracking for oil and gas on federal lands in Alaska. The administration’s greener path is also looking to shut down other pipelines and increase fossil fuel production regulations. While the administration is turbocharging the move away from hydrocarbons in favor of alternative renewable energy sources, the US and the world continue to depend on crude oil. Around one percent of US cars operate on electricity, while the rest are gasoline-powered.

The shift in US energy policy in 2021 came when the demand was soaring. After years of losing market share to the US and suffering from low prices, OPEC, the international oil cartel, and Russia now dominate global production. According to the Energy Information Administration, despite the booming demand, US output fell from a peak of 13.1 million barrels per day in March 2020 to the 11.7 mbpd level as of the week ending December 10, 2021. US output would be much higher because of demand, but addressing climate change is the current policy path.

The US has been losing its grip on energy independence. As a sign of the transition, the Biden administration twice asked OPEC+ to increase output because gasoline prices rose to the highest level since 2014. The cartel refused, leading November’s fifty million barrel SPR release. However, fifty million barrels only account for three days of US consumption, so the move was symbolic and came at a seasonally weak time of the year when gasoline demand tends to decline.

The bottom line is that after working to establish energy independence, the US has become more dependent on the Middle East than it had been over the past years, if not decades, in 2021."

- - - - -

BTW, I'm in NYSE:ERX and I've made a bundle off of it since buying it in Spring of last year. I'll continue to hold it.
By late
#15213244
BlutoSays wrote:
Source: https://seekingalpha.com/article/447602 ... nal-energy

"US energy policy means dependence

It is no surprise that the open interest metric in NYMEX futures declined with the price. Trend-following longs likely exited positions as the price fell. However, another possible explanation is the shift in US energy policy, causing lower output levels and less producer hedging in the futures arena. The drop took the metric to its lowest level in half a decade.

The Biden administration canceled the Keystone XL pipeline in January 2021. In May, it banned drilling and fracking for oil and gas on federal lands in Alaska. The administration’s greener path is also looking to shut down other pipelines and increase fossil fuel production regulations. While the administration is turbocharging the move away from hydrocarbons in favor of alternative renewable energy sources, the US and the world continue to depend on crude oil. Around one percent of US cars operate on electricity, while the rest are gasoline-powered.

The shift in US energy policy in 2021 came when the demand was soaring. After years of losing market share to the US and suffering from low prices, OPEC, the international oil cartel, and Russia now dominate global production. According to the Energy Information Administration, despite the booming demand, US output fell from a peak of 13.1 million barrels per day in March 2020 to the 11.7 mbpd level as of the week ending December 10, 2021. US output would be much higher because of demand, but addressing climate change is the current policy path.

The US has been losing its grip on energy independence. As a sign of the transition, the Biden administration twice asked OPEC+ to increase output because gasoline prices rose to the highest level since 2014. The cartel refused, leading November’s fifty million barrel SPR release. However, fifty million barrels only account for three days of US consumption, so the move was symbolic and came at a seasonally weak time of the year when gasoline demand tends to decline.

The bottom line is that after working to establish energy independence, the US has become more dependent on the Middle East than it had been over the past years, if not decades, in 2021."

- - - - -

BTW, I'm in NYSE:ERX and I've made a bundle off of it since buying it in Spring of last year. I'll continue to hold it.





The crude that was going to be pumped through the Keystone was crap. The grade was so low that it's not worth cracking unless crude prices are quite high. It's dirty, meaning that it's best for low grade diesel that is banned in the USA...

IOW, it's effect would be basically zero, because it would have to be (for the most part) exported...

We've been fighting against the degradation of public lands since Nixon. When we've lost, the results are often nasty. As it was when Nixon allowed drilling in Alaska...

We didn't have energy independence since the 1970s... with the exception of a few of the Obama years due to the fracking boom. Because fracking taps small pockets, when Covid shut things down, you didn't get the ongoing output that you would from a traditional well.

In any case, oil is a boom and bust industry, the higher prices will get people drilling. The drop in demand thanks to Covid also meant a drop in prices, which meant a drop in production. This isn't political, it's whining about how water is wet.

Energy independence based on domestic oil production was a blip. If you actually cared, you'd support policies that increase non-petroleum energy production. It can't be done with oil, but it can be done with nuclear, hydro and solar. And wouldn't that be nice.

Having said all that, that guy may be right about investing in oil. But commodity markets can turn on a dime and bite you on the butt. So keep an eye on it.
User avatar
By BlutoSays
#15213246
Your spin isn't working. Your idiotic policies are failing. Everyone is experiencing it for themselves. Keep dancing!
By late
#15213250
BlutoSays wrote:
Your spin isn't working. Your idiotic policies are failing. Everyone is experiencing it for themselves. Keep dancing!



Project much?

Your spin never works, and what I was saying was factual.
User avatar
By ckaihatsu
#15213326
late wrote:
One of the thousands of things Rightys don't get is that temporary price increases will show up in inflation stats... temporarily...

If they actually wanted to go after inflation (instead of just whining) they'd support regulation to stop the financial sector from buying up the housing market. Then they'd tax the rich at sane levels. Republicans have been throwing trillions at the rich since the 80s, and all that money will keep creating bubbles. Republicans do love to create disasters.



End plutocracy now!
#15213389
Istanbuller wrote:1] USA's military spending on overseas wars took several years. This led to minimize effects of it while Biden spends trillions of dollars in just a year. That caused inflation to skyrocket to a point never seen in last 40 years. Do you get it now?

2] Republican tax cuts helped US companies to survive and compete with foreign rivals. That is a nice thing.

3] Deflation has never been a problem. It is a very good thing. People are able to more things with less money. That is wonderful thing.

1] MMTer economics Professors have looked at the historical economic data. They found no relation between the money supply and inflation. BTW -- they define inflation as "an ongoing general increase in prices". What we are seeing now are large increases in just a few things that when all averaged together seem large. MMTer Profs assert that the current price increases are caused by 2 things, a] suppychain disruptions that will end when the pandemic ends, and b] corps that are monopolies being able to increase their profits by raising prices, so they do both.

2] A tax cut on profits will not help a corporation if it isn't making a profit. The problem in the US is labor costs are higher than most other nations, so its products cost more in other nations, so the US exports little manufactured stuff. MMTer Profs point out that one good way to reduce US labor costs would be for the US Gov. to use its deep pockets to fund certain services that European nations provide, so that workers can buy more stuff with their wages. There services are: a] health care, b] child care, c] higher education, and K-12 also, and d] some others.

3] Deflation has often been a problem. I don't think you know anything about economic history. When prices are falling, investments stop. For example, nobody starts drilling for oil when the price of oil is falling. Why would someone build a new factory to make shoes when the market in shoes is seeing their price keep falling? They would not be sure they could get a return on their investment. Also, why buy a washing machine today if it will cost less next week? So, sales are weaker. Etc.
. . . These reasons and others are why every national central bank targets inflation of near 2%/year, and not deflation. They don't want to see the bad effects of deflation, which you see as good things.
. . . I have explained this to you before. Like most people, you can't have your bad ideas corrected by strangers online. People's minds are make up and they can't be changed by simply telling and showing them how and why they are wrong.
.
User avatar
By Drlee
#15213418
So tell me something Collrick. What exactly has Biden done to the economy that is different from Trump? I can't think of anything.

But never fear. Trump may be back in time to save the day for the wealthy.
User avatar
By Drlee
#15217244
BlutoSays wrote:Deep in Donkey Blue denied areas.....

Image

But....but....but....buuuuuutttt...TRUMP!


Fake and not even a good fake.

Try again Trumpist.


WHAT WE FOUND

An Arco store manager who spoke over the phone said that while the gas prices were never at $9 or above, the station's gas price sign did get an update recently which caused the prices to show up on the sign as $9 or more, briefly.

The update to the sign only lasted a few minutes, according to the manager, but during the update, the erroneous numbers showed up on the sign and people took photos.


Ask an adult to help you with your posts.
User avatar
By BlutoSays
#15219253
Bravo! Dip shit is talking about food shortages incoming. What else ya got for us, Joe? No "green shoots"? No "summers of recovery"? No "shovel ready jobs"?

46 is winning. Winning. WINNING!! Say it with me now! :)

My DNA is in a lot of women's bodies.

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