Are you better off…

[Chuck Naill]

There’s a 24 month surge in demand a with a bottle necked supply chain. None of this is any political person’s fault.

Hmmm..
How 'bout the strangler of American oil?

Your post was about inflaton. Prices on gases are just now coming down since the pipeline hack.

[kazoolaw]

Chuck, given your understanding of economics, have you considered demand pull as a cause of inflated gas prices?

[Chuck Naill]

Chuck, given your understanding of economics, have you considered demand pull as a cause of inflated gas prices?

I've considerd the pipeline hack and Summer time demand. Gas prices here are 20 cents less over the past two weeks.

Kaz, please feel free to blame prices on Biden if that makes you feel good. Demand for housing here is at an all time high since before the pandemic. New home owners are paying a premium for location.

Are you familar with the cost of containers increasing significantly? None of this is Trump or Biden's fault.

Trump inherited an economy on a good tradjectory. Everyone knows this or at least those that take the time to inform themselves. I believe giving credit where itis due and so should you.


People filling for unemployment hit a record low this past week, but business are still having a time filling the slots they need. This is not anyone's fault. Child care prices and availabilty is not anyone's fault. I do think many Trump supporters are going to benefit from what the Democrats passed. We shall see.

Tryng to contain the pandemic and get things back to normal has been a gigantic task that has been compounded by misinformation and stubborness.

[dneal]

From that bastion of radical conservatism, CNBC:

Inflation surged 6.8% in November, even more than expected, to fastest rate since 1982
Jeff Cox

Inflation accelerated at its fastest pace since 1982 in November, the Labor Department said Friday, putting pressure on the economic recovery and raising the stakes for the Federal Reserve.

The consumer price index, which measures the cost of a wide-ranging basket of goods and services, rose 0.8% for the month, good for a 6.8% pace on a year over year basis and the fastest rate since June 1982.

Excluding food and energy prices, so-called core CPI was up 0.5% for the month and 4.9% from a year ago, which itself was the sharpest pickup since mid-1991.

The Dow Jones estimate was for a 6.7% annual gain for headline CPI and 4.9% for core.

Price increases came from familiar culprits.

Energy prices have risen 33.3% since November 2020, including a 3.5% surge in November. Gasoline alone is up 58.1%.

Food prices have jumped 6.1% over the year, while used car and truck prices, a major contributor to the inflation burst, are up 31.4%, following a 2.5% increase last month.

The Labor Department said the increases for the food and energy components were the fastest 12-month gains in at least 13 years.

Shelter costs, which comprise about one-third of the CPI, increased 3.8% on the year, the highest since 2007 as the housing crisis accelerated.

[Chuck Naill]

None of which can be blamed on a politican. I didn't give Trump credit for the stock market either. No way he could have known the virus was coming and if he had, could have controlled the losses in 2020.

[dneal]

Forbes: How President Biden's Executive Orders Impact the Oil Industry

On his second day in office, President Biden signed Executive Order on Protecting Public Health and the Environment and Restoring Science to Tackle the Climate Crisis. The biggest takeaway from the Executive Order was the cancellation of the Keystone XL pipeline permit.

Last week the administration also issued Secretarial Order No. 3395, which implemented a 60-day suspension of new oil and gas leasing and drilling permits for federal land and water.

Business Insider: US Shale Slams Biden's Oil Policies

While the U.S. Administration was calling repeatedly on OPEC+ to pump more oil to stop the rally in U.S. gasoline prices, which hit a seven-year high a few months ago, it failed to reach out to domestic producers first for more supply, shale executives and industry associations say.

Instead of asking OPEC+ and counties like Saudi Arabia, Iraq, and Russia to pump more oil, the Administration should have laid the foundations for a faster recovery of U.S. oil production, which producers curtailed last year in response to the crash in demand and oil prices, executives say.

But if a President, through executive orders, can't affect oil prices; then one wonders why President Biden has reversed course:

Biden Approving Oil and Gas Drilling Permits on Public Lands at Faster Rate than Trump

The Biden administration is approving drilling permits at a faster clip than the Trump administration, according to data first analyzed by the advocacy group Public Citizen.

Bureau of Land Management (BLM) data indicate that in 2021, the agency has approved drilling permits at an average of 336 per month, an increase from the monthly average of 245 at this point during the Trump administration.

Public Citizen’s analysis omitted January, as then-President Trump was in office for most of that month, but even without January data the monthly average stood at 333.

The rate of approvals remains below the 2020 high-water mark of 452 per month. Much of that is due to a period between the end of the 2020 election season and Biden’s inauguration season when oil and gas companies, anticipating increased regulation under Biden, stockpiled leases, according to an Associated Press analysis.

By other measures, however, the Biden administration continues to trail the Trump administration on leasing.

[Chuck Naill]

I personally noticed a rise in gas here after the pipeline hack. They are returning to pre hack prices. I do heat with natural gas. I set the temp on 66. learning how to adapt and stay out of debt, which most can do, is how to survive the bumps in the road.

[dneal]

I personally didn't notice a rise in gas after the pipeline hack, because it was regional.

"Put on a sweater" wasn't a winning narrative for Carter.

[Chuck Naill]

I personally didn't notice a rise in gas after the pipeline hack, because it was regional.

"Put on a sweater" wasn't a winning narrative for Carter.

Yeah, about 30 cents here.

What you put your temps on is your business. Our doctors suggested that lower temps were actually more healthy. So, it sort of became a life style. That said, a good soap stone stove with 20 percent humidity red oak feels great.

[724Seney]

In Chuck's world, when Trump was President if a giraffe at the Bronx Zoo farted it was Trump's fault. And, it was accelerating the climate crisis which made it an even worse transgression.
Since Biden has become President, this Country is going to hell in a hand-bucket, fast, and nothing (as in not one bit of it) can be attributed to Biden or his Administration?

Get serious Chuck. Your total unwillingness to engage in any balanced dialogue about what is happening in this Country.... and why..... totally destroys any credibility you might have when (or if) you ever made a legitimate claim about something which is going on here.

[Chuck Naill]

In Chuck's world, when Trump was President if a giraffe at the Bronx Zoo farted it was Trump's fault. And, it was accelerating the climate crisis which made it an even worse transgression.
Since Biden has become President, this Country is going to hell in a hand-bucket, fast, and nothing (as in not one bit of it) can be attributed to Biden or his Administration?

Get serious Chuck. Your total unwillingness to engage in any balanced dialogue about what is happening in this Country.... and why..... totally destroys any credibility you might have when (or if) you ever made a legitimate claim about something which is going on here.

I would respond, but I can't stop laughing.....

Obviously you are not reading anyone's posts and are another drive by troll. I'll respond when you engage and show you've done some reading. Otherwise, not going to waste time.

[dneal]

I personally didn't notice a rise in gas after the pipeline hack, because it was regional.

"Put on a sweater" wasn't a winning narrative for Carter.

Yeah, about 30 cents here.

What you put your temps on is your business. Our doctors suggested that lower temps were actually more healthy. So, it sort of became a life style. That said, a good soap stone stove with 20 percent humidity red oak feels great.

A gallon of 87 octane was under $2 here when the Orange guy was President, a year ago. After a year of Covid.

Now it's over $3, and has been for many months. Prices went up when the current guy started issuing executive orders.

From AAA:

Screen Shot 2021-12-11 at 1.36.09 PM.png

[Chip]

"Put on a sweater" wasn't a winning narrative for Carter.

Didn't work out for the dinosaurs, either. . .

[kazoolaw]

New monthly inflation record: 9.6%
https://www.bls.gov/news.release/ppi.nr0.htm
[Table A, next to last column]

[Chuck Naill]

https://www.theguardian.com/business...ase-since-1982

[dneal]

Are you familar with the cost of containers increasing significantly? None of this is Trump or Biden's fault.

I was pondering this, this morning. What caused the cost to increase? The easy answer is “the pandemic”, but that is an oversimplification. Policies implemented in response to the pandemic, by politicians and bureaucrats, did it. Different policies implemented in response to the same pandemic could/would have different results. While maybe not directly the fault of a particular President in this case, it does indicate that politicians (and the policies they enact) can affect economic issues.

Policies influence market speculation. To circle back to gas prices, policies implemented by the previous administration caused gas prices to fall. Policies implemented by his predecessor led to $4/gallon prices. Policies implemented by the current administration led to higher prices.

The same is the case for inflation. Stimulus packages, quantitative easing, “printing money”, or however one wishes to label it, leads to inflation. The direct result of policies implemented.

[Bold2013]

Will be interesting to see if the Feds keep calling the inflation ‘transitory’ in the upcoming report…

[Chuck Naill]

I’m happy.

[Chip]

You could put some people up at the Ritz with a bottle of champagne on ice and a thousand nicker, and they'd find some bloody thing to crap about.

[kazoolaw]

Tell us again Uncle Joe how inflation is a positive sign.

"We estimate that inflation in 2021 will require the average U.S. household to spend around $3,500 more in 2021 to achieve the same level of consumption of goods and services as in recent previous years (2019 or 2020). Moreover, we estimate that lower-income households spend more of their budget on goods and services that have been more impacted by inflation."

https://budgetmodel.wharton.upenn.ed...nflation-costs