In case you are wondering how our incompetent Leader is doing on the energy front...

https://twitter.com/JavierBlas/status/1542159111827210241?s=20&t=WgR54AKG-Sw262Pu8itemg

Maybe he can hope the Ukraine war ends soon and he can send his crack-addicted son over to bang some Russian underage escorts and beg Putin to pump more oil...

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RaceBannon

46XiJCAB

Or the Veggie in Chief could stop waging war on domestic oil producers. Just a thought.

HoustonHusky

https://twitter.com/Josh_Young_1/status/1541483225368887300?s=20&t=WgR54AKG-Sw262Pu8itemg

creepycoug

I can't imagine a more imbecilic and worse person to have sitting at the big desk than this buffoon.

Having said that, I've been meaning to check in with you and @UW_Doog_Bot about our current inflation situation. Last tim we talked about it, there was some ambiguity if the then-trending rise in prices was just related to infrastructure, logistics, supply chain, shortages, etc. due to the Vid, or if the bigger picture was the money machine running at full tilt for the last forever. Any current views?

It's interesting ... Biden is fuck to poke at because he's such a huge POS and terrible leader ... and brain dead ... but the money machine problem spans administrations, and Trump didn't want to turn it off either.

My question is whether this inflation is truly indicative of a watered down currency, a proxy for a failing economy or something else ... or, who cares? I know the Tug is more interested in the political explanation, but the truth is the money machine problem is bigger than, and preceded, the current dipshit in chief.

CuntWaffle

Worst President in American history. Absolutely worthless and embarrassing.

HoustonHusky

I'm in the d) all of the above camp...although I still think the core of it is the Fed money-printing everything it can to prop up all the asset bubbles and government overspending and most everything is cascading from that. If they hadn't and everything crashed hard during Covid you would have had massive deflation then, but you would have also brought the economy online a lot faster and wouldn't have nearly the supply chain problems or massive inflation (past the original point) you have now. I think the 'Vid (and the idiotic govt responses) just sped it up and exacerbated it, but it was coming regardless. Helicopter too much money out there and it drives too much demand that the system can't handle.

Commodities except energy are crashing...go look at copper, steel, corn, etc...pretty good indication a nasty recession is coming. Energy is what's going to really make it a doozy, Carter-esqu mess though because it won't crash...people put up with and listened to these Green Energy nuts for too long and its going to take a couple of years for the market to adjust (and will probably steady out at a lot higher energy prices for everyone).

Bob_C

Without cheap money, you could have never shut down the economy. Everything after that was beyond obvious.

creepycoug

And it still caused massive problems.

Another lingering question I have is, what the fuck is this great resignation shit? Where are people going? The stimulus checks couldn't take even the most poor person more than a few months. And I know it's not savings. This is America; nobody saves.

What is this labor shortage about?

WestlinnDuck

When everything is going up in price, it's largely a monetary issue caused by the explosion of the fed printing money. The federal government printed money ostensibly to save Americans from the mandated lockdowns. So blame it on the chicom crud and the complete failure of the US medical bureaucracy who made the choice for destruction of our economy and the termination of over 20 million jobs. The supply constraints (both goods and labor) are also partially due to the slowdown of trade. Lots of Americans took early retirement or just said phuck it, I'll just scrape by in Mom's basement.

The US hasn't built a new oil refinery since the 1970s. Like California's water shortage, you can't bring in tens of millions of illegal and legal aliens and not increase the supply. Under current state and US regulatory authority, no new refinery could be built and none could be financed with the dems promising to terminate fossil fuels in the mid-term. Even with expanded US oil production, any increase in the supply of gasoline will have to come from outside the US. Gasoline and diesel drive the US economy and there is no commitment from either the dems or the so-called Republican leadership to do anything about the supply of US produced gas.

RaceBannon

Trump likes to buy love but as BobC points out the Pandemic spending was a whole nother level. You could blame Trump but Biden couldn't wait to triple down

And it was money for nothing. No roads or sewers or chicks for free

Not unlike the transition between W and Obama and the shovel of bullshit jobs

I think it's fair to say both parties spend recklessly

Only one party wanted to destroy the economy and still do

I hate the GOP as much as anyone but at this point it's the only hope

creepycoug

There certainly isn't anything to write home about. Even Carter had positives ... smart, decent person, well intended, etc. But fuck, this guy is 100% horrible.

creepycoug

What a fucking mess.

greenblood

But but but it's the gas stations...

Bob_C

One theory I have is that it’s a lot of people in their 30’s and 40’s that are possibly beginning to inherent money from their aging/dead boomer parents.

creepycoug

That's a golden cartoon.

And so true. The Democratic party will continue to pay for the hubris of bending to the latest, most in fashion, social issues while ignoring the fundamentals. Hillary in 2016 all but had the White House waiting for her, and she spent her entire campaign on bathrooms and transgender. Waited until it was too late to make first mention of the word "jobs". This is now next level. The party is doomed.

RaceBannon

First of all there isn't a labor shortage or a great resignation

I applied for 200 jobs. Now I'm old so fuck me but every job had hundreds of applicants

I actually did survive on savings. Too bad for the son.

Got my old job back and we're headed home. Boss was overjoyed

Retirement is for fags

PurpleThrobber

The Congress appropriates the funds and approves the expenditures.

The dipshit Speaker of the House is the same.

WestlinnDuck

Because they care about the American middle class and because they are scientific and economic morons.

https://www.thetruthaboutcars.com/2022/06/evs-expensive/

A few years ago, the industry narrative was that all-electric vehicles would reach financial parity with their combustion-driven counterparts in 2025. The assumption was that this would gradually occur by way of ramping up battery production and leveraging economies of scale. However, reality had a different take, as the world is now confronting record-setting prices across the board. Manufacturer and dealer hikes have resulted in the average invoice of EVs rising to $54,000 — roughly 10 grand higher than the typical transaction price of gasoline-powered vehicles, according to J.D. Power.

With economic pressures spiking the value of all automobiles, hardly anything is leaving the lot for less than it could have been had for in 2020. But the increases seen on all-electric models are actually outpacing the models we’ve been told they’re supposed to replace...

From WSJ:

Last week, GM tacked on $6,250 to the price of GMC Hummer electric pickup-truck models, which now range from around $85,000 to $105,000, citing an increase in commodity and logistics costs. The waiting list for the recently released truck is about two years, a GM spokesman said.

Tesla this year has increased prices three times for a performance version of its top-selling Model Y SUV, adding a total of about 9 [percent] to the sticker price, which is now $69,900, according to Bernstein Research.

Overall, the average price paid for an electric vehicle in the U.S. in May was up 22 [percent] from a year earlier, at about $54,000, according to J.D. Power. By comparison, the average paid for an internal-combustion vehicle increased 14 [percent] in that period, to about $44,400.

The companies say they are trying to offset a recent price rise in raw materials that go into the batteries to power electric cars, by far the most expensive component of an EV. Prices for lithium, nickel and cobalt have roughly doubled since before the Covid-19 pandemic began, according to consulting firm AlixPartners LLP.

RaceBannon

There is no economy of scale on unicornand rainbows. Been saying it for years

CuntWaffle

Ok I take it back. The ONE redeeming thing Biden has done is give me the biggest laugh of 2022. I watched that video probably 20 times and was rolling every single time.