Thanks
Way to tax the middle class and poverty
Rmt already tried this.
Derp worthy post tbh.
As with gasoline, the price of crude oil tanked last spring as COVID-19 wrecked economies and stopped people from traveling. To prop up oil prices, the OPEC cartel and its allies slashed oil production.
But lately, the cost of crude has been rising steadily — because OPEC has been slow to boost output again. Oil in mid-February hit $60 a barrel for the first time in over a year.
"Crude, not demand, has been the main factor driving gas price increases this year," says Jeanette Casselano McGee, a spokeswoman for AAA. The average price in most states is now higher than it was a year ago, according to AAA data.
https://www.yahoo.com/now/why-gasoli...162200876.html
RepubliQans hate Biden more than they hate Muslims.
George Bush regime (i.e. Cheney/Haliburton et al. lobbyists) started the high gas price trend in 2005 right after re-election, Obama was able to reverse it by the end of his second term, Trump was bringing back the high prices until COVID crashed the demand hard, and now it's slowly starting to recover like the economy... but in general, higher gas prices are better for the economy overall (especially the oil companies) but not the average citizen or consumer.
It's cute that anyone would think high gas prices started in the 2000s.
Average price/gal for the US is about 24 cents less than the historical average btw.
I mean, they went from $1.49 to $3.49 practically overnight in '05, and then up to $4 by the summer of 2008. Then they tanked in fall 08 due to the recession, but bounced back big from 09-13, remained in the mid $3.xx range until fall 2014 when they tanked bigtime and then an even deeper tank in fall 2015, stayed low in 2016, started bouncing back in 17, 18 and 19 (but remained in the $2.xx range) until COVID plummeted them back to pre-05 levels for awhile.
Historical average? How many years are you going back?
History.
Lowest ever was during the Clinton years. People think presidents have way more control over gas prices than they actually have.
I mean, yes they were low in the 90s when I was a little kid, roughly early COVID prices in fact, but before the Carter administration they were way lower than that, under 80, 70, even 60 cents per gallon.
If I have to explain inflation to you, that's a whole different thread.
Yeah I know inflation duh, but I was talking simple dollar-value prices, not factoring in inflation.
Carter admin era stagflation is what I'm quite worried we're rapidly approaching. Late 70s all common commodities including gas soared astronomically in price even though unemployment and the economy stagnated, the rich got richer and the poor got poorer. Also ironically the last time we had a 1 term GOP president (technically, less than a full term for Ford), followed by a 1 term Democrat president in Carter... could we be seeing a repeat here?
Eh, we'll see. There's no Iranian revolution to cut supply this time and penting-up factors with COVID that may be going away soon to open up the economy. All pretty much depends on how much the RepubliQans want to sabotage the recovery to regain power.
The problem is the current make believe economy (i.e. stock market staying artificially too high at the expense of the poor and middle class) supplemented by the mass stimulus and printing of dollars, which are the fault of both sides of the aisle and both Biden/Trump and the Fed. The Iranian revolution wasn't until 79 and the stagflation started in 77. Carter should have sent troops over to save a major secular ally from becoming a major enemy and a theocracy. He was asleep at the switch and one of the worst presidents and deserved to lose in 80. Reagan wasn't some world beater on foreign policy, but at least prices flattened out and ended stagflation.
If prices on everything go up thanks to all the reckless printing and borrowing from low interest rates and irresponsible stimuli, and salaries don't go up nationwide to adjust to it, it's going to be slagflation regardless of what goes on in other countries
Inflation got killed because Volcker jacked up interest rates.
I agree things like the Trump tax cut were exactly the wrong things to do at the time when the training wheels still weren't off the economy. We're in pretty uncharted territory but it is time for the common folk to get some benefit from the coming spending.
Yep, when the old man was cheated out of his 2nd term and left office I was paying $2.29 a gallon.
30 days later? $2.59 a gallon.
Same old , from the same Tired Old Bags (TOSB).
Now, CNN will get on there with a straight face---broad daylight. "It's a good thing, Jake."
"It is Brooke, and your thighs are like two slabs of white marble, with little indentations."
"Breaking News!"
Wolf Blitzer reporting:::"A new poll conducted by CNN has just been made public. 65%-30%/margin of error +/-1% of Americans say they don't mind paying more for gasoline."
In Yuma it went up 40 cents a gallon in 5 days
Smart thing. Need more of that and less of the crap from the past couple years.
It's an extremely, immensely dangerous road to keep interest rates so criminally low AND inflate the economy the way the recent stimuli and mass printing are doing... hyperinflation (or any significant inflation greater than the long term trend curve) is the absolute worst case scenario for the responsible saving middle class... a few years ago I was earning 3% on my CDs which was on par with inflation... responsible savers and bond investors should be rewarded, not punished... it's the gamblers who ought to lose out.
In the past 12 months there is literally no way to make money on your money without gambling, i.e. ing with the make believe stock market. Even real estate hasn't been a profitable industry lately due to extremely low inventory, record low interest rates on houses and mass exodus of renters / demand for ownership of single family houses.
Last edited by Millennial_Messiah; 02-20-2021 at 05:31 PM.
Damn Sleepy Joe moved on that weather manipulation like it was a in heat.
Wasted no time.
Trump must be envious.
Joe's more powerful than I ever imagined!
There are currently 1 users browsing this thread. (0 members and 1 guests)
Posting Permissions
Reply With Quote
