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Not sure. Though I don’t expect this growth to stick around for very long.
Would be interesting to see which exports drove the e. I suspect it was energy.
Not sure. Though I don’t expect this growth to stick around for very long.
Looked it up. Oil, diesel, and LNG.
Probably making more money than Russia in energy right now
Its a global commodity. Its going to be interesting. The growth of renewables has in a large part been created on the shoulders of cheap Fossil fuels. One powers the other.
I think GDP is up, which you laughed at, while sharing an article that says GDP is up.
Do you think GDP going up due to the fact that people are not able to afford buying imports is evidence that our economic recovery is continuing to power forward? Yes or no.
Biden will probably ban O&G exports next year given the current and coming supply deficits. So don't count on that gdp growth in '23.
I think trying to distill an entire explanation of economic trends down to a single variable that looks unfavorable to a certain party is the type of thing Fox News does so that stupid people will share their articles online.
The economy is showing signs of improvement but not everyone would say their personal situation has improved. Some would. Some people can't afford imports. Some people can. Exports have grown. Unemployment is down. Inflation is happening. Gas is lower than it was months ago. Gas is still high. GDP is up. So it goes.
I know Biden is a senile figurehead but his puppet string holders can't possibly be that stupid.
But relying on a single variable that looks favorable to a certain party as evidence that our economic recovery is continuing to power forward is totally fine with you.
They were kicking the tires on it this summer. The progressive caucus has been pushing for it all year. Biden has full authority to do it without congress.
We are currently around 3-4 million bpd short on the supply side. The optimistic view from the IEA is we will permanently lose 2 million bpd of Russian production in '23. Some O&G types I've read expect it will be 3 million+ bpd.
So if that's true and Biden was considering it with oil at $90, what's he going to do when oil is $150+?
Now you're putting words in my mouth.But relying on a single variable that looks favorable to a certain party as evidence that our economic recovery is continuing to power forward is totally fine with you.
I observed that you objected to saying "GDP is up" even while GDP is, objectively, up.
I think the oil rich mid eastern countries will be happy with $90-$100 barrel oil without kicking the rest of the world into an energy depression.
These things happen when you dodge yes or no questions.
Does the Q3 report showing GDP up provide evidence that our economic recovery is continuing to power forward? Yes or no.
They don't have the spare capacity.
When you can easily produce oil at $25 a barrel it doesn't take full capacity. They are proving that now with production cuts. They want price stability, not to destroy the world economy.
There’s zero reasons for Old Joe to do that and trillions of reasons to do the exact opposite.
The downturn on GDP won’t be about exports, it will be about high interest rates to eradicate inflation.
He’s trolling or BDS is kicking in again. Plus the US produces the most oil in the world right now, that’s not a market they’re going to leave to countries like Saudi Arabia, Russia or Venezuela.
the ratchet only goes one way
high prices of petrol/gas/fuel is pushing up inflation, yet they keep on complaining about interest rates and whatever bs going on in the world
i dont fkn get it, opec charges its people jack to consume energy...while in the west countries that take out of the ground that dont rely on imports for its fossil fuel consumption is charging its citizens market prices...my utility bills are going up faster then inflation
anybody hurt by rising market-power based pricing yet?
The S&P 500 Set a CPI Day Record
https://www.barrons.com/livecoverage...W0pvyot1EKJUvT
It's been some time since inflation data gave a reason for investors to celebrate.
Stocks rallied across the board on Thursday after the consumer price index showed that rising prices were easing, albeit slightly.
At the close, the tech-heavy Nasdaq Composite gained 7.4%, its best CPI release day performance since the index's inception, according to data compiled by the Dow Jones Market Data. The Fed's campaign to quash inflation by raising interest rates has hit tech stocks the hardest.
The S&P 500 finished 5.5% higher, its best performance after a CPI report on record.
The Dow Jones Industrial Average climbed 3.7%, its best CPI day performance since December 2008 when the blue-chip index climbed 4.2%.
Huge day for the stock exchanges.
To the extent that a Fed pivot is expected, that may be disappointed in the long run. But in the short term we could see a double top for inflation. The market doing a mini-melt up on slightly lower than expected inflation is a reflection of animal spirits -- human expectations -- in troubled times.
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