LUVisLost

If you think the President sets prices you are ignorant of the economy and how it works. The economy is a complex beast and not one person can control prices. Brandon, as you call him, released 50M out of the SPR and oil spot prices went up. Wonder how and why that happened? Maybe because it was priced into the market already. The 50M is a drop in the bucket to our 18M a day habit. It was a political move to show OPEC+ that we care they haven’t turned on the supply again. Of course OPEC+ is a player in the overall game and will not be happy but the move also jolted the large corporations that control the supply and price markets, they can and will be intimidated. It also sends a message to the 81M people who voted for him is doing something, though it is symbolic.

I mention the SPR release as it proves one person does not control prices in a fluid economy. Even those stupid tariffs that 45 put in place and 46 is slow to remove have not affected prices as people moved off to like goods. Price of butter goes up people move to margarine. Price of pork goes up people move to beef or chicken. Substitutions then cause supply to increase and thus prices stabilize and drop long term.

Prices are up because people continue to spend like never before. Look at what was released today. Consumer spending up 1.3 percent last month, excluding inflation that’s a .7 percent rise, exceeding expectations. So the question of the month is consumer sentiment is down but consumer spending is touching record highs, I guess it’s all bluster. Watch what people do and not what they say…

MudhammedCJ

said CNN and MSNBC.

LUVisLost

Which part brah?

None of that is lifted off of any news sources. Most of it is an MBA education and 10 years on Wall Street but the FACTS are from actual numbers released today from non partisan groups.

at6d

Where is the SPR oil going? Say it isn’t China. Oh wait…

So much for independent energy. The Biden admin is directly responsible for the BS happening now. Gas is on average 60% higher than last year. Good luck with your supply and demand argument. Biden cut the supply, therefore we have demand. Nice work.

The government can just come up with a printer and boom we have money! So stupid. Your dollar is worth less every day.

This administration is a train wreck. Watch and see.

TransWorld

50 million barrels from the Strategic Petroleum Reserves sounds like a lot.

It is not. It is only 2 and one half days of consumption. Not enough to make a difference.

Ninethstage

I’d ask the Brandon appointed energy secretary about the 50 million barrel impact but she has no idea.

Flush the economy with cash in the form of tax rebate advances and other gov checks - issued under either executive order or executive branch pressure on the legislative to pass “financial relief” and clearly you can see the president can have a huge impact on both inflation and the economy generally.

But Brandon wasn’t legitimately elected, so I guess you’re right he hasn’t had that much impact as president.

OOfff

And away we go!

LUVisLost

You need to get educated brah. The current administration is allowing the free market to work as intended. Sorry you have to pay 100 bucks to fill up your F350 that has never seen off road but those are the realities. We are energy independent, have been since Obama administration, thanks to the shale oil boom, which only makes money at 80/barrel BTW. The current rise is GREAT news for the economy. It means the demand is back and the days of -40/barrel like in 2020 are over. That was deflationary and that’s what to worry about, not inflation. We are far from record highs of gas prices,

First of all we don’t print money. Not how it works, not even remotely. I could give you a detailed view on how the money shows up but it would go over your head I am sure. That’s why professionals deal with it and not the average man. Secondly, rising wages are the primary driver of inflationary pressures. Why since 1981 and the assault on the working class by the GOP we have not had inflationary issues. Wages have always stagnated and deflated in value thus keeping inflation at bay. Now we have the great resignation and a shortage of workers we are seeing rising wages, don’t worry that will drive some retirees back into the market. It is already happening.
Once again the free market working as intended.

If we can just get 46 to get rid of the stupid tariffs 45 put on and allow the economy room to roam it will be epic.

A great quote that you should take note of.

“Balancing your checkbook is to balancing the budget as driving to the supermarket is to landing on the moon.”

LUVisLost

Someone should have this guys medical pulled if he truly believes that.

Ninethstage

Triggered.