Posted on 02/11/2022 7:05:23 AM PST by Browns Ultra Fan
Well, it has been a cringe-worthy year+ under President Biden. West Texas Intermediate Crude futures price is up 91% and the Commodity Research Bureau Foodstuffs index is up 47%. Talk about Biden’s energy folicies being passed through to American households in the form of higher food costs and energy prices!
And then we have mortgage rates. Bankrate’s 30Y mortgage rate is up to almost 4%, up 39% since the beginning of 2021.
Other central banks are raising rates like banshees on the moor, while The Federal Reserve continues to send conflicting signals about possible March rate hikes.
Goldman Sachs sees 7 rate hikes in 2022, culminating in an eventual 2% rate in December.
Fed Funds Futures are signalling 7 rates increases by the February 1, 2023 meeting.
6 or 7 rate hikes, what’s it going to be?
It’s just like Biden to blame COVID for reckless Federal monetary and fiscal policies that overloaded the system.
(Excerpt) Read more at confoundedinterest.net ...
It’s going to take a LOT of pain for Biden voters to wake up a little bit.
As Carter found out, we are a fossil fuel based economy. EVERYTHING you touch has a petroleum based item. Cut off the supply and everything will be impacted.
“Bidenflation? WTI Crude UP 91% Under Biden, Foodstuffs UP 47%, 30Y Mortgage Rates UP 39% (6-7 Rate Increases, What’s It Going To Be?)”
Not headlines anyone ever saw on the MSM. Or will see.
Try $150 bbl oil this summer. When it gets that high, we will be forced to bicycles.
One of the very first actions of the Brandon administration was to cancel the Keystone XL pipeline.
America effectively went through the economic conditions of wartime - expanded government, massive debt, supply restrictions, suppressed interest rates
The result after every major war is always sustained and often hyper-inflation, especially when government remains heavily involved, especially in debt markets to avoid free-market corrections.
Elections have consequences, especially fraudulent ones.
The fed switched government debt from long term borrowing rates to short term. So now every dollar the congress borrows will skyrocket in cost if inflation is going to be addressed.
Scary stuff folks. Lose, lose, lose solutions to this problem of their own making.
“Sticker shock” when many open their home heating bills.
Mine for February has gone from around $65 pre-Biden, to $84 last February to $124 this February.
Remember the small appliances that banks were giving out in the 1970s-80s when you opened an account?
“Try $150 bbl oil this summer. When it gets that high, we will be forced to bicycles.”
The far left would be happy if that happened.
How do you prepare an economy for a massive distribution of calls on the productive economy to those who produce nothing?
Until they go without food because no trucker can afford to deliver it at a price that someone can purchase it.
> Try $150 bbl oil this summer. <
If that happens, Biden will blame “greedy” producers. Then he’ll try price controls.
Result? No gasoline will be available. But it will be cheap.
Today they really don't want your money on their books. Why bother when money is free from the fed? Liquidity rules are easy when overnight borrowing from the fed costs nothing.
My local bank branch told me there is more cash in the ATM at the gas station on the corner than the branch keeps on hand. They don't want your deposits.
Exactly, that's why banks are currently borrowing $326 million (with an M), overnight from the Fed.
I turned 16 in 1975. I used to be the tag swapper for the family cars to get in lines at the gas station. That lasted about a year. The next time I had to wait in a line for gasoline was Wednesday this week.
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