Posted on 06/16/2022 9:15:47 AM PDT by Browns Ultra Fan
One just might presume that Oil! prices are being soap-sold to Slow Joe as a ‘good thing’, precisely because they are NOT a ‘good thing’, and so after taking a beating in November, an electoral WIPEOUT, whether or not Old Joe sees the error of his ways, he will be invited by his own party to LEAVE.
The inflation caused by higher oil is tiny compared to the inflation caused BY FLOODING THE USA’s ECONOMY WITH $4T over the last 2 1/2 years.
No, we dodged the recession bullet as the GDP came in at 0.0%, obviously NOT a negative number.
< /BS accounting>
This is a chart from The Atlantic showing federal debt as a percent of the economy.
What one notices outside of wars (American Revolution, War of 1812, Civil War) federal debt was a mere fraction of the total economic output.
During and after WWI it never went back to levels normal for the first century and a half or so of American history.
The only big change I can think of was the creation of the Federal Reserve. After it was created our debt was always higher.
What would be the odds of a three place number in ten based math coming in at 0.00%...???? And not one squint at that from the press or media.
So my question is how would you prevent it and has there ever been a "soft landing" historically with this level of inflation? I don't think so.
Lying about the GDP.
And how long.
“What could possibly happen to prevent it? A serious question.“
They will use every trick to rig the numbers so it does not technically qualify as a recession. They removed gas and food from the inflation calculation and MSM let them. The same will happen here. It may work for awhile. Past the midterms?
Maybe.
This will not prevent a recession because the printing of money and the spending by the government will not be abated. Oil price is just one part of price spikes (not inflation).
"Inflation is always and everywhere a monetary phenomenon, in the sense that it is and can be produced ONLY by a more rapid increase in the quantity of money than in output. "(Dr. Friedman).
That's what she said.
I honestly think there is nothing that can be done to prevent it. And since a recession is defined as several consecutive quarters of negative growth then we may not have even started it yet. As to the kind of landing, this situation is so different from past recessions that I wouldn't even want to speculate.
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Excellent point.
Once the $1.9 trillion in stimulus was printed, Putin went to war, xiden further crushed the economy with the embargo, oil went through the roof with no prospect of relief to the industry.... RECESSION is a foregone conclusion and that will be the best of it.
There was nothing stopping this from the time xiden was elected. We all should have known that. I was stupid, I didn’t want to pay the taxes on the gains and thought I was prepared to ride it out but never thought it would get this bad. S&P at 4,000 and dow at 31,000 was where I thought it would settle. Now I just would not say. Stating the obvious we are in the 20% down range, some say it doesn’t end until 30% and others don’t say. We are down nearly 11% from a year ago.
Who says it won’t be?
Yeah, I’m not seeing anything but down.
That is the most of it. The outlook is based on the fact of a war on oil and this bunch of clowns playing it for every inch they can get too make it worse.
Until that changes or the demand burns down this will go on. When demand burns down the economy goes with it. You can’t take away the oars to the boat without some other means of propulsion. OIL runs the world. Without a good outlook for oil, and there isn’t one, we are dead in the water. Not only does it take a long time to change the oil outlook there is no other viable pathway. These asses are driving us into the stone age again. People better get that but I’m fearing it is too late to not have another 10 or more years of disaster even if the digging out were to start today.
We have seen this show before. Clintoon did it to us while we were resting on the laurels of the last oil boom that got production up. It began in ‘98 and reached peak damage in ‘08. Some reasons were different the outcome is the same. Things got better until ‘14/’15 when dumbo crashed oil prices and set this up. Covid pushed it along and xiden kicked it over the cliff.
Not so fast.
We already in recession and fast tracking to depression. Bet.
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