Biden Tracker (1 Viewer)

SteveSBrickNJ said:

On this Biden Tracker thread it seemed appropriate to say that the Biden administration has to at least take SOME responsibility for this...

Inflation hits 40-year high as CPI rises 8.6% in May

U.S. consumer prices accelerated in May to the highest since 1981, as Americans grapple with a surge in the cost of gas, food, and shelter, data showed Friday.

finance.yahoo.com

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So food and gas prices are sky-high the world over, but it’s the American president‘s fault? What can he do? Seriously - what should he do?

MT15 said:

So food and gas prices are sky-high the world over, but it’s the American president‘s fault? What can he do? Seriously - what should he do?

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Something, something, Keystone XL pipeline

MT15 said:

So food and gas prices are sky-high the world over, but it’s the American president‘s fault? What can he do? Seriously - what should he do?

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Let me check Ireland and get back to you.

MT15 said:

So food and gas prices are sky-high the world over, but it’s the American president‘s fault? What can he do? Seriously - what should he do?

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So the most recent search result for Ireland I could find was posted 2 months ago...specifically April 26th. Inflation rate in Ireland was 6.8%. I think all the stimulus money that Biden gave out more than once got inflation going. Biden's Secretary of the Treasury Janet Yellen recently admitted she thought inflation would peak in America in April. I don't have the desire to search for the inflation rate in Bermuda or Singapore but I bet both are doing better than us. Biden and his party gave away money that we didn't have....to people in many cases that didn't need it....some did...but many did not....and now we are in a mess. I am sure that there are conservative financial experts that could expand on this in a more articulate fashion. Yet even this Elementary Band Director can tell you liberal policies are BAD for the economy.

SteveSBrickNJ said:

Let me check Ireland and get back to you.

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What does this mean?

brandon said:

What does this mean?

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She(MT15) implied that everyone on Earth is going thru the same economic struggles. I am vacationing in Ireland this August and I had a hunch that their economy is much better than ours. That's why sir.

SteveSBrickNJ said:

She(MT15) implied that everyone on Earth is going thru the same economic struggles. I am vacationing in Ireland this August and I had a hunch that their economy is much better than ours. That's why sir.

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Ok, I did just take the time to search engine Singapore. Again it is the month of April that is the most recent. Singapore's inflation rate ...April 2022....5.419%

SteveSBrickNJ said:

So the most recent search result for Ireland I could find was posted 2 months ago...specifically April 26th. Inflation rate in Ireland was 6.8%. I think all the stimulus money that Biden gave out more than once got inflation going. Biden's Secretary of the Treasury Janet Yellen recently admitted she thought inflation would peak in America in April. I don't have the desire to search for the inflation rate in Bermuda or Singapore but I bet both are doing better than us. Biden and his party gave away money that we didn't have....to people in many cases that didn't need it....some did...but many did not....and now we are in a mess. I am sure that there are conservative financial experts that could expand on this in a more articulate fashion. Yet even this Elementary Band Director can tell you liberal policies are BAD for the economy.

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Biden had one stimulus. The other two were done by Trump and the R-controlled Senate. Biden’s stimulus was less than the two Trump did when you add them together. It’s just complete hogwash to say that Biden / Dems did more stimulus than Trump / Rs.

So about inflation, this site has Ireland over 8% for May. I’m not sure where you got your figures.

A big contributor to inflation is gasoline prices. The Republican "solution" is to drill more. It sounds good. More oil=more gas. Unfortunately, that isn't true. We have a very limited refining capability in the US right now. This is something that has been building for years. We have not built from scratch a new refinery in this country since the 1970s. Over the past couple of years, 5 refineries have shut down. Next year, another refinery will shut down in Houston.

So you say...."let's just build more refineries." Again sounds good, but that takes capital investments by corporations. Surely they would do this with all this money to be made on high gas prices, right? Wrong. First, it would take years to build new refineries or to even repair/refurbish plants that have been recently shuttered. So you then say, "so, at least in a few years we will be in position to produce more gasoline." That would be short-sighted. The auto industry will be 50% electric within 10 years if not more. Why would a company invest millions of dollars in gasoline refining when demand for gasoline will be greatly decreased within a decade? They wouldn't. There is no long term return on investment. So, the oil and gas industry has a decreasing ability to produce gasoline and no incentive to build infrastructure. This is also why you do not see the oil industry building new rigs on the 9,000 leases they have available. They will not get a long term return of their investment. Do I blame the corporations for not building new refineries? No.

In the same vein, do I blame Biden? No. What could he do to rectify this situation? Nothing. He does not control what infrastructure businesses will invest in. That is up the to businesses. They have made a business decision based upon their future projections, which I believe are correct. I wouldn't build a gas refinery. It would never make back its costs, not to mention that is a Superfund site waiting to happen.

What we should be doing right now is investing heavily into electric vehicle industries to get us off the ever-decreasing supply of gasoline. Instead, we have politicians selling "drill baby drill" to their constituents, knowing that is not a viable solution. They know the truth, but they aren't telling you the truth. Why? Because you react to "drill baby drill" and that will help them in the mid-terms. So, rather than take action now to help with a quicker transition to electric cars, they will prolong the process because it benefits THEM now hurting us more in the long term. Too many politicians will lie to you knowing you will not look into the real cause because the real cause is much more complex.

What is easier to sell to the uninformed public, "Drill baby drill" or what I typed above? DBD obviously, but do we want the truth or what helps our side win the election?

MT15 said:

Biden had one stimulus. The other two were done by Trump and the R-controlled Senate. Biden’s stimulus was less than the two Trump did when you add them together. It’s just complete hogwash to say that Biden / Dems did more stimulus than Trump / Rs.

So about inflation, this site has Ireland over 8% for May. I’m not sure where you got your figures.

https://ec.europa.eu/eurostat/documents/2995521/14636256/2-31052022-AP-EN.pdf/3ba84e21-80e6-fc2f-6354-2b83b1ec5d35

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I was sitting in a parking lot waiting for my wife and daughter to emerge from the supermarket. I "got my figures" from a Google search engine while doing the best I could on my cell phone. Now I'm home on my laptop.

SteveSBrickNJ said:

I was sitting in a parking lot waiting for my wife and daughter to emerge from the supermarket. I "got my figures" from a Google search engine while doing the best I could on my cell phone. Now I'm home on my laptop.

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I wasn’t so much doubting you as just commenting that I didn’t know where you got your figures. It should be noted that the website I found is a projection for May, but even their April figures for Ireland are higher than yours. It seems to be an official figure from the EU that I found, though.

Sandman, Steve Rattner (i think I have that name right) who is an economist for NBC/MSNBC says that he thinks even the Saudi’s don’t have all that much more capacity right now. That basically we are putting out about as much oil as we can at this point, unless we start buying from some ME nations we won’t buy from, there just isn’t enough oil to go around compared to demand. The demand just roared back so fast after two years of pandemic that the whole world is hamstrung by gas prices right now.

I really think you are correct, and that Biden is on the right track, when you say we would be better off just biting the bullet now and going with as many EVs as we can. I know the charging infrastructure isn’t where it needs to be in my neck of the woods just yet, but we need to do it.

We’re in the market for a new second car and strongly considering an EV. If we can get one more year out of our clunker (my husband loves that car he would be upset at me for calling it that) then I feel we will have a lot more and better options.

The NY Times is usually considered leaning left.
Here is an article that I think we will see other publications duplicate in the months ahead...

SteveSBrickNJ said:

The NY Times is usually considered leaning left.
Here is an article that I think we will see other publications duplicate in the months ahead...

Should Biden Run in 2024? Democratic Whispers of 'No' Start to Rise.

Midway through the 2022 primary season, many Democratic lawmakers and party officials are venting their frustrations with President Joe Biden’s struggle to advance the bulk of his agenda, doubting his ability to rescue the party from a predicted midterm trouncing and increasingly viewing him as...

www.yahoo.com

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AOC and Biden...

lol. That conversation changed quickly when it was shown that Biden isn’t really responsible for the inflation.

And that’s fine - but it would be nice to acknowledge errors of fact.

Sandman said:

A big contributor to inflation is gasoline prices. The Republican "solution" is to drill more. It sounds good. More oil=more gas. Unfortunately, that isn't true. We have a very limited refining capability in the US right now. This is something that has been building for years. We have not built from scratch a new refinery in this country since the 1970s. Over the past couple of years, 5 refineries have shut down. Next year, another refinery will shut down in Houston.

So you say...."let's just build more refineries." Again sounds good, but that takes capital investments by corporations. Surely they would do this with all this money to be made on high gas prices, right? Wrong. First, it would take years to build new refineries or to even repair/refurbish plants that have been recently shuttered. So you then say, "so, at least in a few years we will be in position to produce more gasoline." That would be short-sighted. The auto industry will be 50% electric within 10 years if not more. Why would a company invest millions of dollars in gasoline refining when demand for gasoline will be greatly decreased within a decade? They wouldn't. There is no long term return on investment. So, the oil and gas industry has a decreasing ability to produce gasoline and no incentive to build infrastructure. This is also why you do not see the oil industry building new rigs on the 9,000 leases they have available. They will not get a long term return of their investment. Do I blame the corporations for not building new refineries? No.

In the same vein, do I blame Biden? No. What could he do to rectify this situation? Nothing. He does not control what infrastructure businesses will invest in. That is up the to businesses. They have made a business decision based upon their future projections, which I believe are correct. I wouldn't build a gas refinery. It would never make back its costs, not to mention that is a Superfund site waiting to happen.

What we should be doing right now is investing heavily into electric vehicle industries to get us off the ever-decreasing supply of gasoline. Instead, we have politicians selling "drill baby drill" to their constituents, knowing that is not a viable solution. They know the truth, but they aren't telling you the truth. Why? Because you react to "drill baby drill" and that will help them in the mid-terms. So, rather than take action now to help with a quicker transition to electric cars, they will prolong the process because it benefits THEM now hurting us more in the long term. Too many politicians will lie to you knowing you will not look into the real cause because the real cause is much more complex.

What is easier to sell to the uninformed public, "Drill baby drill" or what I typed above? DBD obviously, but do we want the truth or what helps our side win the election?

Click to expand...

Why would oil companies spend capital on building new refineries or drilling rights when there is a not so silent push to move to electric by the government? Out of one side of there mouth, the government is telling us that big oil is full of greed and is responsible for this but out of the other side tell us that big oil is going to kill everyone so we must, as a nation and with the bank roll of the nation crush big oil so we can move to green energy, despite the technology not being there yet.