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Originally posted by second:
Oil companies post massive profits as consumers feel squeeze from high gas prices

ExxonMobil pulled in nearly $20 billion in profit. Chevron took in more than $11 billion, Shell $9.5 billion, BP over eight billion. And, today, the world's largest oil company, Saudi Aramco, reported making $42 billion this quarter.

Joe Biden, President of the United States: Oil companies' record profits today are not because they're doing something new or innovative. Their profits are a windfall of war, the windfall from the brutal conflict that's ravaging Ukraine and hurting tens of millions of people around the globe.

https://www.pbs.org/newshour/show/oil-companies-post-massive-profits-a
s-consumers-feel-squeeze-from-high-gas-prices

Exxon Mobil Corp is $111.91 per share
up by 76.13% so far this year
https://www.google.com/finance/quote/XOM:NYSE?authuser=0&window=YT
D

The Joss Whedon script for Serenity, where Wash lives, is Serenity-190pages.pdf at https://www.mediafire.com/two

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Originally posted by JEWELSTAITEFAN:
I looked at my utility bill for last month. Had 2 different rates for Natural Gas.

Natural Gas cost was 0.52130 for 6 of the 30 days, and 1.14020 for 24 of the 30 days.

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Originally posted by 6IXSTRINGJACK:
Ain't shit that dropped, retard.

It just stopped climbing at a record pace.

Everything is still FAR more expensive than it was under 4 years of Trump.

The only reason that lumber prices dropped (and still higher than they were 2 years ago by 30%) is because the FED had to come in and raise the rates every month to the point where everybody's going to lose tons of equity on their homes (on top of all the money they've lost to inflation and lost in the stock market already) and the home builders aren't building shit when they can't turn a profit since the bank interest will be taking all of those profits.


Democrats poison everything they touch.

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Originally posted by 6IXSTRINGJACK:
I don't debate inflation with a moron.

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Growing up in a Republic was nice... Shame we couldn't keep it.

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Originally posted by SIGNYM:
If SECOND knew anything about economics he'd know we have fascism, not capitalism.

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Pity would be no more,
If we did not MAKE someone poor - William Blake

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Originally posted by SIGNYM:
If SECOND knew anything about economics he'd know we have fascism, not capitalism.

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Originally posted by SIGNYM:
If SECOND knew anything about economics he'd know we have fascism, not capitalism.

SECOND: Will you ever understand that capitalists do NOT run their businesses, in any country, to benefit their customers? (They don't run businesses to create high-paying jobs, either, but that is another story.)

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Originally posted by SIGNYM:

The problem is that "capitalism" is an unstable state. It inevitably evolves to something that is NOT CAPITALISM.

Many books have been written about this evolution. You clearly haven't read them, either.

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SIGNYM:
The problem is that "capitalism" is an unstable state. It inevitably evolves to something that is NOT CAPITALISM.
Many books have been written about this evolution. You clearly haven't read them, either.

SECOND: Is it because of "something that is NOT CAPITALISM" that the economy does not always run smoothly? (The U.S. economy experienced serious recessions beginning in 1973, 1981, 1990, 2001, and 2007. Actually, the U.S. economy has been having recessions for hundreds of years.) List of 48 recessions in the United States
https://en.wikipedia.org/wiki/List_of_recessions_in_the_United_States

Signym, you might also want to look at A Short History of Prices, Inflation since the Founding of the U.S.
https://www.stlouisfed.org/publications/regional-economist/second-quar
ter-2017/a-short-history-of-prices-inflation-since-founding-of-us

Signym, inflation is not "something that is NOT CAPITALISM". Inflation and Deflation have always been part of capitalism.

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SECOND: Signym, you appreciate the virtues of a market economy and the power of the invisible hand.

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Originally posted by SIGNYM:

Inflation is "Too much money chasing too few goods".

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Originally posted by 6IXSTRINGJACK:

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Originally posted by JEWELSTAITEFAN:
I looked at my utility bill for last month. Had 2 different rates for Natural Gas.

Natural Gas cost was 0.52130 for 6 of the 30 days, and 1.14020 for 24 of the 30 days.

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That's actually typical of the natural gas bills. Not the insane prices, but splitting them up based off of how many days into the month your billing cycle is. I assume it's because of monthly contracts. Bills in Indiana and Illinois are split like this too.

You're doing better than my old man in Illinois is. He was 62 cents in September and $1.31 in October.

Here in Indiana I was 24 cents in September and 56 cents in October.

Yeah... I'm much lower than both of you, but 56 cents is FAR more than I've ever paid before and it's only supposed to go up for everyone.

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Falsus in unum, falsus in omnibus

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The average cost of home heating is projected to jump increase by 17.2% from last winter to $1,208, according to a November report from the National Energy Assistance Directors Association.

The cost to heat homes is expected to be 35.7% higher this winter than the 2020-2021 winter, the report said.

More than 100 million people across the United States are under winter weather and wind chill alerts. The National Weather Service is describing it as a “once-in-a-generation type event.”

The spike comes as prices for natural gas – the most popular way to heat homes in America – have surged. Electricity prices have also climbed sharply.

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$10K household woe

Finally, even normalizing the inflation rate does not cancel the price hikes of the past two years. Since President Biden took office, the cumulative 13.8% inflation is roughly 10% higher than the baseline rate. This has cost the typical household approximately $10,000 over two years.

Those household costs will continue rising even if the inflation rate normalizes. That is because this recent extra 10% inflation will remain embedded in prices moving forward. Inflation rates may return to 2% or 3%, but they will be applied to a permanently elevated price level. And with wage growth notably slower than price growth over the past two years — producing the steepest decline in real wages in decades — most families will remain behind.

In the meantime, families are heading into a holiday season with one-year price surges of 10.6% for food, 13.1% for energy (including gasoline) and 14.2% for transportation services. The new inflation report is welcome news, but it’s a small battle in a painful, extended war.

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Originally posted by 6IXSTRINGJACK:
OK, Apologist.

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Growing up in a Republic was nice... Shame we couldn't keep it.

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What explains falling inflation? It now looks as if much, although not all, of the big inflation surge reflected one-time events associated with the pandemic and its aftermath — which was what Team Transitory (including me) claimed all along, except that transitory effects were both bigger and longer lasting than any of us imagined.

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So why shouldn’t we be celebrating? You can pick over the entrails of the inflation numbers looking for bad omens, but I’m ever less convinced that anybody, myself included, understands inflation well enough to do this in a useful way. Basically, as you exclude more and more items from your measure in search of “underlying” inflation, what you’re left with becomes increasingly strange and unreliable.

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Originally posted by 6IXSTRINGJACK:
Write as many paragraphs as you'd like. None of this happened while Trump was President.

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Originally posted by second:

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Originally posted by 6IXSTRINGJACK:
Write as many paragraphs as you'd like. None of this happened while Trump was President.

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Do you really believe Trump had control over the economy rather than the Richest Americans in charge of Corporations? The Richest 1% (and especially the Richest 0.1%) run the economy, not the President. And it is Congress, State Legislatures, Counties, and Cities, not the President, who decide how the 46% of GDP is spent by the different levels of governments.

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Rather, I continue to believe that inflation is fundamentally hydraulic. It goes up and down based on underlying movements of the economy, and that's it. These fundamentals might or might not include money supply, interest rates, tightness of labor markets, oil prices, endogenous variables, and so forth, all lagged by various amounts (oil hits inflation quickly, interest rates take a year or so). The Fed controls some of these, but (a) has only a modest impact and (b) has to be aware of lags.

In any case, I have no reason to think that expectations are on this list. Hell, Japan has been trying to raise inflation for years with no luck. And serious economists have taken to saying that nobody understands inflation. If that's the case, then why are so many people enthused about expectations, which strikes me as akin to clapping your hands or wearing a WIN ( W hip I nflation N ow) button? It just doesn't work.

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I get it. I'm not an economist

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Originally posted by 6IXSTRINGJACK:

All I said is that it is Objective FACT that none of this happened while Trump was President.

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Originally posted by second:

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Originally posted by 6IXSTRINGJACK:

All I said is that it is Objective FACT that none of this happened while Trump was President.

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Also a fact is that Trump had no control of prices or anything other than his mouth while he was President.

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Originally posted by 6IXSTRINGJACK:

. . . doubling the trillions per year added to the US Debt . . .

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Originally posted by second:

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Originally posted by 6IXSTRINGJACK:

. . . doubling the trillions per year added to the US Debt . . .

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Try explaining this away, 6ix:

Donald Trump
National debt contribution $8.2 trillion
Percentage increase 40.43%

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Originally posted by 6IXSTRINGJACK:

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Originally posted by second:

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Originally posted by 6IXSTRINGJACK:

All I said is that it is Objective FACT that none of this happened while Trump was President.

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Also a fact is that Trump had no control of prices or anything other than his mouth while he was President.

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That's not the point. You're arguing that companies have complete control over prices and can do this whenever they want to and that American policy such as killing the Keystone Pipeline, doubling the trillions per year added to the US Debt, and the entire myriad of market and economic meddling done under the current administration doesn't effect prices at all.

I'm arguing that for two years under Biden* that the prices of everything have raised at insane rates that more than half of Americans alive today never saw in their lives, and under four years of Trump they didn't.

You have no argument.

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She said she noticed the skyrocketing prices from a “summary” of money spent in her home every week, prompting her to ask “what the f**k is going on?” So, she said she had to see with her own eyes, and went to a grocery store to see the prices for herself.

“Lettuce was like $2 a couple of months ago, and now it’s like f**king $7,” Cardi B said in the minute-long video. “Of course I’m going to say something: The f**k?!”

“I think that sh*t is crazy,” she added, sympathizing with “middle-class people or people in the hood” about the increase in grocery prices.

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Cardi B used her platform, consisting of nearly 30 million followers on Twitter, to ask the higher-ups to “put that sh*t the f**k down.” She added that if those responsible for the high prices were to see her post, they might “put it down.”

...

When a Cardi B fan asked if the video will decrease prices, the rapper said: “Not necessarily cause of me, but if we bring enough awareness to inflation you never know.”

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Her advice during these times? Budgeting, because if you don’t, you’re “going to go broke soon.”

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Originally posted by 6IXSTRINGJACK:
Budgeting is ALWAYS what you should be doing, because if you don't, you're going to go broke eventually.

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Originally posted by 6IXSTRINGJACK:
It's probably what happened to EVs.

Biden* announces $7,500 rebates on EVs and GM and Ford immediately raise their average price for EVs by $7,500.

Isn't California paying out a stimulus bill to combat inflation on heating costs and gas now?


At least it's not cold in So. Cal. and the people shouldn't be damaged any more than everybody in the country who needs heat to live.

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