Inflation at 40 year highs

[alex peters]

Inflation for last month was at 8.6% the highest in 40 years. Oil is at $120 per barrel and the price of gas has doubled since Biden became President.

Food prices have gone up 10% to 25% in 1 year. Even with the higher wages real income for the working class is declining.

The stock market is declining as well as housing prices.

There are some experts who are saying that oil will hit $200 per barrel.


Let's hope not.

[Somis Sound]

I'm not a fan of Trump or either side really. But I do have to say across the board, nearly everything is worse under the current regime. Inflation, gas prices have over doubled in my town, not as much stuff at the grocery store, baby food debacle, the border is in total chaos with no order, more crime, more homelessness, no improvement on mental health programs, phony infrastructure bill full of everything non-infrastructure increasing the deficit even more, the embarrassing way they left Afghanistan and our people and equipment still there. I think he's as big of a creep as the last president but more incompetent. The world is shaking their heads... At least we have his hairy legs story to comfort us and this beautiful song. Oye vey....

[downbyariver]

The reason for the bulk of the rise in gas prices are sanctions imposed on Russia as a result of their invasion of Ukraine. President Biden informed the American people in advance that the cost of standing with Ukraine against Russian aggression would include higher gas prices, and the American people overwhelmingly supported imposing sanctions. It was the right thing to do. Sometimes doing the right thing has a cost.

Nevertheless, Biden and Democrats have done a lot to attempt to ease that burden. The President opened the national strategic patroleum reserve, for example.

The Democratic led House passed a bill against price gouging by gasoline companies without a single Republican vote. Unfortunately, Republicans have blocked it in the Senate, which has been the fate of a lot of great legislation Democrats have passed in the House and championed (Often minus Joe Machin and Kirstin Sinema) in the Senate.

The infrastructure bill was something Republicans talked about for four years and never got done. Democrats got it done.

While I agree that inflation is a problem, I do not think it's specifically a Democratic problem, I think it's a problem specifically of an economy that had a rapid recovery in the Biden years after a downturn during the Trump years (Also due to the pandemic and then a partial return to normalcy). Repealing Trump's tax cuts for the rich could help with that, but Republicans won't let us do it. Nevertheless, you are about to see the Federal Reserve raise interest rates significantly and at a rapid clip in an attempt to reign this in.

President Biden's first year was full of record firsts, and his second year has also featured some significant accomplishments so far.

However, I think the most important thing, which it is sometimes easy to lose sight of, is that we elected a President who believes in democracy and American values, and defends them at home and abroad. A second term of Trump might have completed a transformation that would have rendered America unrecognizable, and not in a good way.

[downbyariver]

Also, when it comes to baby formula, Democrats in the House passed $28m to try to increase supply, which nearly 200 House Republicans voted against.

Nine Republicans even voted against simply temporarily expanding the formula brands WIC recipients could chose from, legislation that attempted to account for parents who could not find any of the brands of formula the program usually allows due to supply issues.

Ultimately, President Biden invoked the Defense Production Act to combat the shortage.

A lot of problems fester and get worse because Republicans actively block solutions, and sometimes there is the perception of inaction by Democrats because the press does not always publicize the votes that are taken in Congress and the executive orders the President signs. These are not fundamental flaws in the way Democratic leaders are approaching the issues, though. Really, what we need are more Democratic Senators and a less conservative press corps.

[Frumious B]

I’m into the bottom line, the results and asking myself whether I and the family are better off now than we were when someone took office. If those things aren’t a net positive then I’m probably voting for the other party. The problem is that the GOP has been overrun by Trumpistadors who are batsh*t f*cking crazy. It’s like you’ve got “ Wahhhhhh! Wahhhhhh! I want a pony!” on one side of the aisle and “Ponies are part of a globalist cabal who build Jewish space lasers to steal the election.” on the other side of the aisle. The folks who don’t fall in with these extremes get primaried.

Anyway, I don’t know how much the American Rescue Plan contributed to this mess, but it seems like it is at least partially to blame. https://www.vox.com/23036340/biden-a...plan-inflation

[alex peters]

The reason for the bulk of the rise in gas prices are sanctions imposed on Russia as a result of their invasion of Ukraine. President Biden informed the American people in advance that the cost of standing with Ukraine against Russian aggression would include higher gas prices, and the American people overwhelmingly supported imposing sanctions. It was the right thing to do. Sometimes doing the right thing has a cost.

Nevertheless, Biden and Democrats have done a lot to attempt to ease that burden. The President opened the national strategic patroleum reserve, for example.

The Democratic led House passed a bill against price gouging by gasoline companies without a single Republican vote. Unfortunately, Republicans have blocked it in the Senate, which has been the fate of a lot of great legislation Democrats have passed in the House and championed (Often minus Joe Machin and Kirstin Sinema) in the Senate.

The infrastructure bill was something Republicans talked about for four years and never got done. Democrats got it done.

While I agree that inflation is a problem, I do not think it's specifically a Democratic problem, I think it's a problem specifically of an economy that had a rapid recovery in the Biden years after a downturn during the Trump years (Also due to the pandemic and then a partial return to normalcy). Repealing Trump's tax cuts for the rich could help with that, but Republicans won't let us do it. Nevertheless, you are about to see the Federal Reserve raise interest rates significantly and at a rapid clip in an attempt to reign this in.

President Biden's first year was full of record firsts, and his second year has also featured some significant accomplishments so far.

However, I t99.8hink the most important thing, which it is sometimes easy to lose sight of, is that we elected a President who believes in democracy and American values, and defends them at home and abroad. A second term of Trump might have completed a transformation that would have rendered America unrecognizable, and not in a good way.

I just don't know what to say Mr. Downbyariver.

The rise of gas prices has nothing to do with the a war between Russia and Ukraine. Gas prices were rising well before the war. Opening up the strategic petroleum reserves was a horrible mistake that now has opened us up to a potential real problem.

There is no price gouging by oil companies. In all due respect you simply do not know what you are talking about and are repeating the narrative of the Morning Joe's.

One of the reasons among many of the rise in gas prices is Biden sent Jake Sullivan his National Security Advisor to Saudi Arabia to talk to the Saudi Prince Mohammad Bin Salmon about pumping more oil. Sullivan, a complete idiot, meets with MBS and starts asking him questions about the murder of the Washington Post journalist a few years ago. MBS stands up and tells Sullivan to get the F out of here and forget about us pumping more oil.

An economy.with a rapid recovery you say? The economy is a disaster. Food costs rising double digits per year.. Empty shelves in the stores. Small businesses shutting down. The stock market is beginning to tank along with the beginning of the decline in housing prices. There are tens of thousands illegally crossing our border every month and this President does nothing to stop this invasion. Homeless litter our landscape everywhere and we are at the greatest risk of a Depression in our lifetime.

A President that believes in Democracy you say? The Democratic Party today is not the Party of Bobby Kennedy or JFK. The lunatics have taken over.

Joe Biden is a feeble senile old man stuttering around. It is scary we have this demented incompetent clown as Commander of Chief. This time next year when the MAGA Republicans have control of the House Of Representatives Biden will be impeached or going thru impeachment proceedings in the House. He will not be convicted in the Senate but we will see another impeachment of a President.

I really do not know what planet some people live on.

We need less conservatives in the press corps? What are you talking about? The entire mainstream media is practically all liberal
.

[roundabout]

I just don't know what to say Mr. Downbyariver.

The rise of gas prices has nothing to do with the a war between Russia and Ukraine. Gas prices were rising well before the war. Opening up the strategic petroleum reserves was a horrible mistake that now has opened us up to a potential real problem.

There is no price gouging by oil companies. In all due respect you simply do not know what you are talking about and are repeating the narrative of the Morning Joe's.

One of the reasons among many of the rise in gas prices is Biden sent Jake Sullivan his National Security Advisor to Saudi Arabia to talk to the Saudi Prince Mohammad Bin Salmon about pumping more oil. Sullivan, a complete idiot, meets with MBS and starts asking him questions about the murder of the Washington Post journalist a few years ago. MBS stands up and tells Sullivan to get the F out of here and forget about us pumping more oil.

An economy.with a rapid recovery you say? The economy is a disaster. Food costs rising double digits per year.. Empty shelves in the stores. Small businesses shutting down. The stock market is beginning to tank along with the beginning of the decline in housing prices. There are tens of thousands illegally crossing our border every month and this President does nothing to stop this invasion. Homeless litter our landscape everywhere and we are at the greatest risk of a Depression in our lifetime.

A President that believes in Democracy you say? The Democratic Party today is not the Party of Bobby Kennedy or JFK. The lunatics have taken over.

Joe Biden is a feeble senile old man stuttering around. It is scary we have this demented incompetent clown as Commander of Chief. This time next year when the MAGA Republicans have control of the House Of Representatives Biden will be impeached or going thru impeachment proceedings in the House. He will not be convicted in the Senate but we will see another impeachment of a President.

I really do not know what planet some people live on.

We need less conservatives in the press corps? What are you talking about? The entire mainstream media is practically all liberal
.

Excellent Post!

[roundabout]

Well it cost me 135.00 to fill up my F150 in sunny Bradenton FL...Thanks Brandon. Maybe I should sell my condo so I could buy a Tesla

[Frumious B]

Well it cost me 135.00 to fill up my F150 in sunny Bradenton FL...Thanks Brandon. Maybe I should sell my condo so I could buy a Tesla

I think the real value right now is in hybrids. They are only a little bit more expensive than gasoline only and they get double the mileage which means you spend half as much on gas. Also, the batteries in new hybrids have 100-150k mile warranties. Drive it for ten years and you can come out pretty far ahead. I wouldn’t go electric because of the cost and I don’t think the infrastructure to support them is quite there yet.

[alex peters]

I think the real value right now is in hybrids. They are only a little bit more expensive than gasoline only and they get double the mileage which means you spend half as much on gas. Also, the batteries in new hybrids have 100-150k mile warranties. Drive it for ten years and you can come out pretty far ahead. I wouldn’t go electric because of the cost and I don’t think the infrastructure to support them is quite there yet.

I agree Mr. Frumious

[bondegezou]

The rise of gas prices has nothing to do with the a war between Russia and Ukraine.

Ha ha ha, very funny.

[alex peters]

Ha ha ha, very funny.

I was in the oil business Henry. I know what I am talking about. There are some things I know nothing about and I listen and stay quiet. You should try this

[Frumious B]

https://ycharts.com/indicators/us_gas_price

If you look at the three year chart you can see where prices were prior to the pandemic with a big drop during the pandemic because nobody was driving. By early 2021 they were back to where they were before the pandemic, but continued to rise beyond that. You can also see the spike, clear as day, and subsequent run up from Putin invading the Ukraine. So I would say it is disingenuous for Biden to claim this is all on Putin, but also disingenuous to say Putin has nothing to do with it.

[alex peters]

https://ycharts.com/indicators/us_gas_price

If you look at the three year chart you can see where prices were prior to the pandemic with a big drop during the pandemic because nobody was driving. By early 2021 they were back to where they were before the pandemic, but continued to rise beyond that. You can also see the spike, clear as day, and subsequent run up from Putin invading the Ukraine. So I would say it is disingenuous for Biden to claim this is all on Putin, but also disingenuous to say Putin has nothing to do with it.

The chart does not give you the reasons. Putin and Russia has nothing to do with the rising gas prices. And even if Putin is responsible why in the holy hell are we backing and supporting Ukraine one of the world's most corrupt nations. It is not in our national interest.

And we are supporting the ultimate loser. In the meantime the leaders of Ukraine are laughing at our idiot politicians for giving them 40 billion that they will put in numbered bank accounts in Switerland

[pjt]

The chart does not give you the reasons. Putin and Russia has nothing to do with the rising gas prices. And even if Putin is responsible why in the holy hell are we backing and supporting Ukraine one of the world's most corrupt nations. It is not in our national interest.

And we are supporting the ultimate loser. In the meantime the leaders of Ukraine are laughing at our idiot politicians for giving them 40 billion that they will put in numbered bank accounts in Switerland

And you're lying again. This is Moscow propaganda, the same the idiots like MTG spew.