(11-15-2023 03:09 PM)UofMstateU Wrote:  

(11-15-2023 10:15 AM)mlb Wrote:  

(11-14-2023 07:15 PM)UofMstateU Wrote:  Even then, americans will have a lot less money, because they would have overpaid on the items for 13 years. Thats how badly Biden* has f*cked over the economy.

While I am not a fan of Biden, to say it is entirely his fault is not true at any level. The inflation had to come around and that all began during the early months of COVID. Handing out free money, extra food stamps, all the massive financial programs for businesses, etc., set the stage for the inflation. I'm not saying that he didn't add to it via the massive spending his administration has pushed for and accomplished, but it certainly doesn't land just on his shoulders either. It was clearly very bipartisan.

It came about the moment Biden* took office and passed that multi trillion dollar boondoggle that we all said was going to cause serious inflation. And then they kept spending, while the fed refused to raise rates because the inflation was "transitory". (ie, there's a dem in the whitehouse and we dont want to slow the economy)

Also, he immediately curbed domestic oil production which raised prices on fuel which raised prices on everything you purchase 2 to 3 times over.

Paying idiots to sit on their ass and not work caused it. They had money to spend, and werent contributing to the economy. So people had money to spend while at the same time caused us shortages because they wouldnt work.

Complete fiction. Please, stick with topics you actually understand. Like not knowing that "posited" is actually a word.

But I love how you conveniently ignore all the money trump gave out and blame it all on the one Biden did. Precious.

(11-15-2023 03:22 PM)Redwingtom Wrote:  

(11-15-2023 03:09 PM)UofMstateU Wrote:  

(11-15-2023 10:15 AM)mlb Wrote:  

(11-14-2023 07:15 PM)UofMstateU Wrote:  Even then, americans will have a lot less money, because they would have overpaid on the items for 13 years. Thats how badly Biden* has f*cked over the economy.

While I am not a fan of Biden, to say it is entirely his fault is not true at any level. The inflation had to come around and that all began during the early months of COVID. Handing out free money, extra food stamps, all the massive financial programs for businesses, etc., set the stage for the inflation. I'm not saying that he didn't add to it via the massive spending his administration has pushed for and accomplished, but it certainly doesn't land just on his shoulders either. It was clearly very bipartisan.

It came about the moment Biden* took office and passed that multi trillion dollar boondoggle that we all said was going to cause serious inflation. And then they kept spending, while the fed refused to raise rates because the inflation was "transitory". (ie, there's a dem in the whitehouse and we dont want to slow the economy)

Also, he immediately curbed domestic oil production which raised prices on fuel which raised prices on everything you purchase 2 to 3 times over.

Paying idiots to sit on their ass and not work caused it. They had money to spend, and werent contributing to the economy. So people had money to spend while at the same time caused us shortages because they wouldnt work.

Complete fiction. Please, stick with topics you actually understand. Like not knowing that "posited" is actually a word.

But I love how you conveniently ignore all the money trump gave out and blame it all on the one Biden did. Precious.

Heavy flow day? Just wait, its about to get worse.

(11-15-2023 04:38 PM)UofMstateU Wrote:  

(11-15-2023 03:22 PM)Redwingtom Wrote:  

(11-15-2023 03:09 PM)UofMstateU Wrote:  

(11-15-2023 10:15 AM)mlb Wrote:  

(11-14-2023 07:15 PM)UofMstateU Wrote:  Even then, americans will have a lot less money, because they would have overpaid on the items for 13 years. Thats how badly Biden* has f*cked over the economy.

While I am not a fan of Biden, to say it is entirely his fault is not true at any level. The inflation had to come around and that all began during the early months of COVID. Handing out free money, extra food stamps, all the massive financial programs for businesses, etc., set the stage for the inflation. I'm not saying that he didn't add to it via the massive spending his administration has pushed for and accomplished, but it certainly doesn't land just on his shoulders either. It was clearly very bipartisan.

It came about the moment Biden* took office and passed that multi trillion dollar boondoggle that we all said was going to cause serious inflation. And then they kept spending, while the fed refused to raise rates because the inflation was "transitory". (ie, there's a dem in the whitehouse and we dont want to slow the economy)

Also, he immediately curbed domestic oil production which raised prices on fuel which raised prices on everything you purchase 2 to 3 times over.

Paying idiots to sit on their ass and not work caused it. They had money to spend, and werent contributing to the economy. So people had money to spend while at the same time caused us shortages because they wouldnt work.

Complete fiction. Please, stick with topics you actually understand. Like not knowing that "posited" is actually a word.

But I love how you conveniently ignore all the money trump gave out and blame it all on the one Biden did. Precious.

Heavy flow day? Just wait, its about to get worse.

As expected...a childish retort and no defense of your complete lie and lack of understanding of US oil production and how a global pandemic effects an economy.

C'mon guys, why are you arguing with Tom? Tom is an expert on literally every topic. Just ask him.

(11-16-2023 08:03 AM)BartlettTigerFan Wrote:  C'mon guys, why are you arguing with Tom? Tom is an expert on literally every topic. Just ask him.

Someone woke up on the butthurt side of the bed this morning.

And no, I'm no expert on most all topics...just like you and every other poster here. That being said, I do take the time to read and educate myself, and seek out and listen to experts on things like the Oil industry, so that I can understand things. Specifically, the experts I listen to regarding the Oil industry have completely changed my view of oil companies, and fossil fuels.

So yeah, on this topic, I know what I'm talking about. Biden did not "immediately curb domestic oil production!" Additionally, we are now producing more oil than at any point in our history.

What's it like to NOT learn something new every day?

(11-16-2023 08:17 AM)Redwingtom Wrote:  

(11-16-2023 08:03 AM)BartlettTigerFan Wrote:  C'mon guys, why are you arguing with Tom? Tom is an expert on literally every topic. Just ask him.

Someone woke up on the butthurt side of the bed this morning.

And no, I'm no expert on most all topics...just like you and every other poster here. That being said, I do take the time to read and educate myself, and seek out and listen to experts on things like the Oil industry, so that I can understand things. Specifically, the experts I listen to regarding the Oil industry have completely changed my view of oil companies, and fossil fuels.

So yeah, on this topic, I know what I'm talking about. Biden did not "immediately curb domestic oil production!" Additionally, we are now producing more oil than at any point in our history.

What's it like to NOT learn something new every day?

100% accurate

What is being swept under the rug, is what Biden did/did not do as things were starting to escalate.

Inflation was inevitable no matter what, coming out of the Covid fog created a bubble of pent up spending like nothing before it. We can argue all day as to how bad it got versus how bad it should have gotten - it is a waste of time because there is absolutely no definitive answer and nobody can invent one - conjecture at best.

What I can argue is some of the things JBD authorized and did lent to unintended (maybe intended) consequences. Weakening the SPR for political points was an abject disasterous move - akin to pissing on a forest fire. Give/sell away our reserves for what? There was no way in hell that was stopping anything. Like it or not, as much as we think the US can control oil prices we really have little to no affect no matter how much we produce with the one, single exception of not buying a drop or foreign oil, and even then, it is still a world commodity - we are not going to get a home town discount from Exxon or Shell - they are selling it at world prices regardless.

The second thing he did was too much Covid relief - and subsequently kept things locked down far too long. Because of the latter, he had to do the former. In singularity, those covid checks were virtue signaling at worst, and a one month reprieve on some bills for some at best.

I love when I still hear today that they attribute excess spending (now) as a result of that Covid check. NO F-ING WAY! Anyone who qualified for that money had it spent in a month or less. It was $600 f-ing dollars, not a million. That was nothing more a b-12 shot that pepped you up for a day then it was back to normal. What it did do though was pump a chit-load of "fake money" into the system.

Both of these things were a significant part of what ignited the rock rolling down hill and that is hard to stop once it starts. Is this all on Biden, no, but just these two things did NOTHIGN to help the situation.

(11-16-2023 08:17 AM)Redwingtom Wrote:  So yeah, on this topic, I know what I'm talking about. Biden did not "immediately curb domestic oil production!" Additionally, we are now producing more oil than at any point in our history.

Name something that Biden did that had the effect of increasing domestic oil production.

You can't because he didn't.

He did everyting he could to curb domestic production. The reason that production increased is because the energy companies are better at their jobs than he is at his.

Thank God for his incompetence.

(11-16-2023 08:54 AM)Eldonabe Wrote:  

(11-16-2023 08:17 AM)Redwingtom Wrote:  

(11-16-2023 08:03 AM)BartlettTigerFan Wrote:  C'mon guys, why are you arguing with Tom? Tom is an expert on literally every topic. Just ask him.

Someone woke up on the butthurt side of the bed this morning.

And no, I'm no expert on most all topics...just like you and every other poster here. That being said, I do take the time to read and educate myself, and seek out and listen to experts on things like the Oil industry, so that I can understand things. Specifically, the experts I listen to regarding the Oil industry have completely changed my view of oil companies, and fossil fuels.

So yeah, on this topic, I know what I'm talking about. Biden did not "immediately curb domestic oil production!" Additionally, we are now producing more oil than at any point in our history.

What's it like to NOT learn something new every day?

100% accurate

What is being swept under the rug, is what Biden did/did not do as things were starting to escalate.

Inflation was inevitable no matter what, coming out of the Covid fog created a bubble of pent up spending like nothing before it. We can argue all day as to how bad it got versus how bad it should have gotten - it is a waste of time because there is absolutely no definitive answer and nobody can invent one - conjecture at best.

What I can argue is some of the things JBD authorized and did lent to unintended (maybe intended) consequences. Weakening the SPR for political points was an abject disasterous move - akin to pissing on a forest fire. Give/sell away our reserves for what? There was no way in hell that was stopping anything. Like it or not, as much as we think the US can control oil prices we really have little to no affect no matter how much we produce with the one, single exception of not buying a drop or foreign oil, and even then, it is still a world commodity - we are not going to get a home town discount from Exxon or Shell - they are selling it at world prices regardless.

The second thing he did was too much Covid relief - and subsequently kept things locked down far too long. Because of the latter, he had to do the former. In singularity, those covid checks were virtue signaling at worst, and a one month reprieve on some bills for some at best.

I love when I still hear today that they attribute excess spending (now) as a result of that Covid check. NO F-ING WAY! Anyone who qualified for that money had it spent in a month or less. It was $600 f-ing dollars, not a million. That was nothing more a b-12 shot that pepped you up for a day then it was back to normal. What it did do though was pump a chit-load of "fake money" into the system.

Both of these things were a significant part of what ignited the rock rolling down hill and that is hard to stop once it starts. Is this all on Biden, no, but just these two things did NOTHIGN to help the situation.

A couple things...

On the SPR, we didn't give away our reserves. It just doesn't work like that. They are released and sold on the market at market price.

The SPR is not needed like it was in the past. There's a set limit on how low it can go, and we are still above that. A couple decades ago, we were actually below that limit even though we had more in it. The level is based on things that have changed over time. And the SPR is actually for things like Biden used it for. We had market uncertainty due to Russia's actions. Now, I did not agree with Biden's use of it, but there is NO question is lowered the price at the pump. The releases were added to the market. That does increase the supply. Which does lower prices.

Lastly on the SPR, oil is lower now, so when we buy back oil for it we likely will at lower prices than what we sold it for which will make us a profit.

On foreign oil, we will likely NEVER be able to stop buying foreign oil. The reason for this is that not all oil is the same. What we extract in the USA is not used for all the things we make with oil. So we need the different foreign oil for many other uses still.

On lockdowns, weren't those mostly on the states? Biden didn't really "lock-down" much of anything, right?

(11-16-2023 09:06 AM)Owl 69/70/75 Wrote:  

(11-16-2023 08:17 AM)Redwingtom Wrote:  So yeah, on this topic, I know what I'm talking about. Biden did not "immediately curb domestic oil production!" Additionally, we are now producing more oil than at any point in our history.

Name something that Biden did that had the effect of increasing domestic oil production.

You can't because he didn't.

He did everyting he could to curb domestic production. The reason that production increased is because the energy companies are better at their jobs than he is at his.

Thank God for his incompetence.

Nailed it.