Shouldn’t wingers be thanking Biden for our low gas prices?

[Bugsy McGurk]

Joe has done nothing to bring gas prices down after making them implode in coast on day one. Hell, 5 million barrels of OUR oil was just shipped abroad.


Do you want dressing with your Harris salad?

WATCH: Cackling Kamala Harris goes viral with ‘seriously’ word salad during visit to Highland Park | WATCH: Cackling Kamala Harris goes viral with 'seriously' word salad during her visit to Highland Park, Illinois, where seven people were killed and over 30 were injured on the Fourth of July. “We got to take this stuff seriously, as seriously as you are because you have been forced to have take this seriously," Harris said. | The Tea Party's Front Page. | Slowly, our freedoms are being chipped away with, "We know better..." justification as its hammer and chisel.

WATCH: Cackling Kamala Harris goes viral with 'seriously' word salad during her visit to Highland Park, Illinois, where seven people were killed and over 30 were injured on the Fourth of July. “We got to take this stuff seriously, as seriously as you are because you have been forced to have take...

ussanews.com

False, as always. Biden has taken actions to reduce gas prices.

Read up on them and get back to me.

 

[Bugsy McGurk]

Forgiving student loans will increase inflation
Joe is spending most of his time trying to keep Hunter out of prison and himself!

Lucas: Biden will be remembered for wrecking the country (msn.com)

Yikes.

Try to focus.

 

[Bugsy McGurk]

No - Hillary Clinton is the reason that Hillary lost. Again - stop making excuses for the piss-poor campaign that she ran. If you want to be honest about 2016 that clip of Trump talking about grabbing women by the genitals did more damage to Trump. Hillary Clinton is a terrible politician. She was qualified certainly but not electable because people hate her. Both she and Trump had negative ratings among voters and Trump's number were even worse. Both were over 50%. BUT.... most people disapproved of both of them but hated Trump less.

You say - things are not going to change. I say they damn well will come November one way or another. As to the FED Powell is about as independent as a neutered house cat - he'll cave to whatever pressure whoever is President applies. And if you know anything about economics raising interest rates WILL bring down inflation. It makes it more expensive to borrow money to buy things which decreases demand which pressures prices to be reduced in order to sell stuff. Down side is obvious, decreased demand means less workers because not as many goods are in demand and unemployment goes up.

Funny thing is you actually used this fact when you talked to the Yabba Dabbas about gas prices being lower under Trump - they were low because of decreased demand.

Regardless of what you think about Hillary’s strengths as a candidate, the Kremlin/Team Trump illegal interference in the 2016 election tilted the race to Trump, no question. But here we are.

And again, I’m not sure the conventional wisdom about hiking raising interest rates holds in this economy. We basically have full employment now. Even “more than full.” Hiking rates more would increase the costs of producing everything, keeping prices high, while at the same time retarding growth and costing some people their jobs. It would also increase the burdens on consumer borrowers, especially home buyers, causing further pain. I would hold rates steady right now. I think they’ve already been hiked enough.

The time to raise them was early in the Trump years, but he was only concerned with the short term and he browbeat the Fed into keeping the rates rock bottom even though he inherited Obama’s ever-growing economy.

 

[PNWest]

Regardless of what you think about Hillary’s strengths as a candidate, the Kremlin/Team Trump illegal interference in the 2016 election tilted the race to Trump, no question. But here we are.

And again, I’m not sure the conventional wisdom about hiking raising interest rates holds in this economy. We basically have full employment now. Even “more than full.” Hiking rates more would increase the costs of producing everything, keeping prices high, while at the same time retarding growth and costing some people their jobs. It would also increase the burdens on consumer borrowers, especially home buyers, causing further pain. I would hold rates steady right now. I think they’ve already been hiked enough.

The time to raise them was early in the Trump years, but he was only concerned with the short term and he browbeat the Fed into keeping the rates rock bottom even though he inherited Obama’s ever-growing economy.

Certainly the Russians helped Trump - no one but a moron would dispute that. But even Russia didn't think Trump would actually win. They expected Hillary to win but wanted to weaken her as much as possible.

You are correct about what hiking rates will do.... in other words reduce inflation. You can argue that inflation has been reduced enough and although I disagree with that it is certainly debatable. Remember "normal" Fed rates should runn somehwere between 3 and 5 percent. We ain't there yet. Maybe times have changed and a lower "normal" is the right rate. That's above my pay grade as the best poster on the internet.

The real time that interest rates should have been raised was about midway through Obama's second term - Obama had gotten us out of the republican caused great recession and things had stabilized. Obama didn't do it. They should have been raised in the early part of Trump's term also. Again Trump didn't do it. And as you pointed out Powell is a man who can be pushed around into doing whatever the current President wants. So don't argue that Biden has no control over the Fed - If Trump could do it so could Biden.

 

[Bugsy McGurk]

Certainly the Russians helped Trump - no one but a moron would dispute that. But even Russia didn't think Trump would actually win. They expected Hillary to win but wanted to weaken her as much as possible.

You are correct about what hiking rates will do.... in other words reduce inflation. You can argue that inflation has been reduced enough and although I disagree with that it is certainly debatable. Remember "normal" Fed rates should runn somehwere between 3 and 5 percent. We ain't there yet. Maybe times have changed and a lower "normal" is the right rate. That's above my pay grade as the best poster on the internet.

The real time that interest rates should have been raised was about midway through Obama's second term - Obama had gotten us out of the republican caused great recession and things had stabilized. Obama didn't do it. They should have been raised in the early part of Trump's term also. Again Trump didn't do it. And as you pointed out Powell is a man who can be pushed around into doing whatever the current President wants. So don't argue that Biden has no control over the Fed - If Trump could do it so could Biden.

Again, I support Biden urging the Fed to hold rates steady. And I’m not convinced that hiking rates will reduce inflation. This economy is unlike any we have ever seen, especially with regard to our full employment. The opposite could well occur.

 

[PNWest]

Again, I support Biden urging the Fed to hold rates steady. And I’m not convinced that hiking rates will reduce inflation. This economy is unlike any we have ever seen, especially with regard to our full employment. The opposite could well occur.

How?

Oh and by the way are you now admitting that Biden does have the power to pressure the Fed?

 

[Dawg]

False, as always. Biden has taken actions to reduce gas prices.

Read up on them and get back to me.

Joe failed as always

Oil from U.S. reserves head overseas as gasoline prices stay high (msn.com)

 

[God of War]

I’m neither bragging nor making excuses. I’m ridiculing wingers for bashing Biden for our gas prices when they’re among the lowest in the world. Not bad for something that is a global commodity.

Anyway, I’m always happy to listen to those having solutions to make our prices lower yet.

THE WORLD HAS ALWAYS HAD HIGHER GAS PRICES!!! Nice try though.

 

[Bugsy McGurk]

How?

Oh and by the way are you now admitting that Biden does have the power to pressure the Fed?

“Admitting” it? I said it three times above. I raised the issue.

I also explained how further hiking the rates could well increase inflation in this full employment economy. Raising interest rates increases the costs of borrowing money and, hence, the costs of producing things.

 

[Bugsy McGurk]

Joe failed as always

Oil from U.S. reserves head overseas as gasoline prices stay high (msn.com)

I was simply refuting your lie. You should move onto your next lie.

 

[Bugsy McGurk]

THE WORLD HAS ALWAYS HAD HIGHER GAS PRICES!!! Nice try though.

Your point, if any?

 

[God of War]

Your point, if any?

If you don't know then you don't have the capacity to be told.

 

[Bugsy McGurk]

If you don't know then you don't have the capacity to be told.

Your dodge is noted.

As always.

 

[Bugsy McGurk]

“Admitting” it? I said it three times above. I raised the issue.

I also explained how further hiking the rates could well increase inflation in this full employment economy. Raising interest rates increases the costs of borrowing money and, hence, the costs of producing things.

An interesting clip on the subject…

Listen to: How the U.S. economy is super weird right now — Apple News Today

Plus, U.K. prime minister Boris Johnson agrees to step down, schools switch on digital surveillance, and how wild animals adapt to city life.

apple.news

 

[PNWest]

“Admitting” it? I said it three times above. I raised the issue.

I also explained how further hiking the rates could well increase inflation in this full employment economy. Raising interest rates increases the costs of borrowing money and, hence, the costs of producing things.

You do know that when prices RISE - demand FALLS. That cools off the economy and puts downward pressure on prices. Maybe this time it is different but as far as I am aware what you say MAY happen never has in the past full employment or not. Traditionally inflation happens in times of low unemployment which was what made the stagflation of the 1970s so scary.

 

[ObamacareForever]

The bottom line is that so far Biden's performance has been dismal.

High Gas prices - "There is very little I can do about it".

Inflation - "There is very little I can do about it".

The stock market crash - "There is very little I can do about it".

Not removing De Joy from the Postmaster position - "There is very little I can do about it".

Not passing his Climate agenda - "There is very little I can do about it".

Not passing his Build Back Better agenda - "There is very little I can do about it".

Roe v Wade overturned by fascist Supreme Court - "There is very little I can do about it".

Not being able to work across the aisle as he promised he could - "There is very little I can do about it".

Joe Biden is 79. If there is very little he can do about it then maybe it's about time that he step down and give Harris a chance. Biden ain't cutting it.

People that accept and continue to make excuses for this incompetence are part of the problem - not the solution. You should demand better. It's not good enough to just not be scumbag republicans. Govern effectively or be voted out.

What would you have him do differently?

 

[PNWest]

What would you have him do differently?

Why do I owe you an answer to that?

If you get surgery from a quack surgeon that botches an operation do you ask the patient how he would have done the surgery?

If you get your roof replaced and it leaks like a sieve afterward should you be required to say how the roof should have been fixed?

When we hire someone to solve problems it is not up to us to tell them how to do the job. They are supposed to be the experts and it is up to them to do the job properly.

Biden's job is running the country. The country is is not doing well. Biden supporters are reduced to bragging that US gas prices of $5/gallon are an example of Biden's success because they are higher elsewhere (even though this has always been the case). This is pathetic.

It is not up to me to tell Biden how to solve the county's problems. It's his job to FIX the problems. He is the one who said that he was the right man to do the job. This bullsh!t about how "there is very little I can do about it" doesn't cut it. If Biden can't fix the problems he needs to get out of the way and let someone else take a crack at it.

 

[Bugsy McGurk]

You do know that when prices RISE - demand FALLS. That cools off the economy and puts downward pressure on prices. Maybe this time it is different but as far as I am aware what you say MAY happen never has in the past full employment or not. Traditionally inflation happens in times of low unemployment which was what made the stagflation of the 1970s so scary.

As I said, I know that is the conventional wisdom but this economy is unique, as the clip I linked notes.

Maybe we should try the “Whip Inflation Now” buttons Gerry Ford distributed?

;-)

 

[PNWest]

As I said, I know that is the conventional wisdom but this economy is unique, as the clip I linked notes.

Maybe we should try the “Whip Inflation Now” buttons Gerry Ford distributed?

;-)

Nah - this is standard stuff - the economy was too hot - driving down unemployment and raising prices, coupled with the pandemic effects and supply chain problems. Raising interest rates will fix this if they don't do too little or too much.

 

[Bugsy McGurk]

Nah - this is standard stuff - the economy was too hot - driving down unemployment and raising prices, coupled with the pandemic effects and supply chain problems. Raising interest rates will fix this if they don't do too little or too much.

Full employment, pandemic effects, and supply chain problems are hardly standard stuff. In any event, the Fed is likely to raise rates some more despite what I think, and we will see what effects that has on inflation and the economy.