he even injected COVID into his body to prove how tough he is
Gas prices are tanking!
- Thread starter Sooner-Be-Dead
- Start date
US uses about 19.8M barrels a day. So assuming you meant 50M, that was a move primarily for optics.
5.09 this morning...saving money.
I only use six gallons a day - so no biggy anyways.
I only use six gallons a day - so no biggy anyways.
4 factors that could determine if gas prices will keep falling
Gas prices are now averaging $4.41 a gallon across the country, down from last month’s peak of more than $5 a gallon.
www.vox.com
- Sep 13, 2002
- 99,762
- 210,191
- 113
You should email the editors of the Wall Street Journal and let them know their reporting on the economy is innaccurate.
If the U.S. Is in a Recession, It’s a Very Strange One
Economic output is down—but the job market is strong, unlike in previous recessions. It’s the latest twist in the odd trajectory of the pandemic economy.
www.wsj.com
Nice try. What about food prices? Don't see them dropping.
It will take a bit longer for those to fall but we are already seeing some signs.
We will see a drop for sure should gas prices continue to fall.
When a recession is declared (after two quarters of consecutive economic decline), do they date the start of the recession to the beginning of the decline, or the declaration?
On December 1, 2008, the National Bureau of Economic Research (NBER) declared that the United States entered a recession in December 2007, citing employment and production figures as well as the third quarter decline in GDP.
$3.66 on Sunday morning in Ankeny.
I'm gonna just go cruising down the blvd so I can go back and fill up.
And even better news...this morning Janet Yellen stated it's unlikely we see a recession.
Republicans gonna need a new line for stoking fear in Merica.
I'm gonna just go cruising down the blvd so I can go back and fill up.
And even better news...this morning Janet Yellen stated it's unlikely we see a recession.
Republicans gonna need a new line for stoking fear in Merica.
A
anon_911569jwrmy3z
Guest
The same Janet Yellen who said inflation would be transitory?
Do you know what "transitory" means?
It's amazing the lengths the Radical Right will go to in an attempt to win elections. Yellen basically said "If we face a recession, it will be brief".
Are you suggesting that the driving patterns of Americans is/was the biggest driver of crude and refined fuel costs?
A
anon_911569jwrmy3z
Guest
A
anon_911569jwrmy3z
Guest
During Joe Biden's presidency? Note...I do not blame Biden for inflation. Just curious if you believe the inflation that Janet Yellen referred to as transitory is transitory. You seem to question if I understand what the word transitory means, so I would like to know you thoughts on the matter.
Looks like we're talking the difference between inflation and recession.
Yes, we're experiencing what now appears to be short term inflation, but we are not in a recession. Yellen's comments today indicated she doesn't think a recession is inevitable.
Everyone realizes we are experiencing inflation. Yes, it's transitory.
A
anon_911569jwrmy3z
Guest
Below is your post about Janet Yellen stating it is unlikely we see a recession.
This is your response to me asking if you believe inflation is transitory...
NPR - Janet Yellen on Inflation
NY Post - Janet Yellen on Inflation
CBS - Janet Yellen on Inflation
Forgive me if I don't see her comments on recession as credible. You are trying to make this political when it is an economic discussion. You are wrong about inflation being transitory, and you clearly know nothing about what causes inflation or what is necessary to bring inflation down.
Here is my response to your post...
I am questioning Janet Yellen's credibility by asking if this is the same Janet Yellen who said inflation would be transitory. Then you asked me if I even knew what transitory means
This is your response to me asking if you believe inflation is transitory...
Janet Yellen said for months that inflation would be transitory. She has admitted in recent weeks that she was wrong about inflation being transitory.
NPR - Janet Yellen on Inflation
NY Post - Janet Yellen on Inflation
CBS - Janet Yellen on Inflation
Forgive me if I don't see her comments on recession as credible. You are trying to make this political when it is an economic discussion. You are wrong about inflation being transitory, and you clearly know nothing about what causes inflation or what is necessary to bring inflation down.
Then we're just going to have to agree to disagree.
You might be confusing a strong economy with short term inflation.
Inflation appears to have peaked...Good news for Mericans and bad news for the GOP.
I'm refuting the point that lack of travelers in 2021 (which isn't true) is the reason gas was $2.75 a year ago. Keep up or don't post.
When was the last time the Federal Reserve or any Treasury official accurately predicted a recession?
Has it ever happened?
I’m just wondering why we put stock in their predictions. Any kind of track record to reflect upon in that regard?
Here is Yellen in a speech in October 2005, when she was chairman of the San Francisco Fed. Remember, this was, according to Matthew O’Brien, back when she was “raising concerns about the housing bubble.”
“In my view, it makes sense to organize one’s thinking around three consecutive questions—three hurdles to jump before pulling the monetary policy trigger. First, if the bubble were to deflate on its own, would the effect on the economy be exceedingly large? Second, is it unlikely that the Fed could mitigate the consequences? Third, is monetary policy the best tool to use to deflate a house-price bubble? My answers to these questions in the shortest possible form are, “no,” “no,” and “no.””
She went on to say that, even in the event of a housing downturn, “it could be large enough to feel like a good-sized bump in the road, but the economy would likely to be able to absorb the shock.”
A few months later, in a speech in April 2006, Yellen noted the remarkable uptick in housing prices (i.e. the catastrophic housing bubble) in the San Francisco Bay Area. Yet she all but shrugged the high prices off. “There are well-known and unique features of this area that lend some justification to its high housing values,” she said, “First, there is not much land available for new home building, so the supply of new homes is fairly limited. In addition, this area enjoys very favorable lifestyle amenities and it has a job base that attracts high-income residents.” (San Francisco housing prices would end up falling by more than 50 percent from their 2006 peak, one of the worst performances in the country.)
At a Fed meeting in September 2006, Yellen was similarly sanguine, despite by-then falling home prices: “The speed of the falloff in housing activity and the deceleration in house prices continue to surprise us,” she allowed. But not to worry! “Of course, housing is a relatively small sector of the economy, and its decline should be self-correcting,” she cooed.
By February 2007, she thought her predicted correction had already occurred. In a speech, she reported “signs of stabilization in the housing market,” and was pleased to report that, according to Marketwatch, that “housing’s slowdown had [not] spilled into other parts of the economy.” In fact, she said that she was more worried about inflation than the housing downturn.
It's kind of amazing how some posters choose to take good news, like falling fuel prices, and spin it into an entirely different direction.
I realize the Radical Right needs to push their agenda, but it seems counter productive to me.
Food prices will eventually begin to follow suit, and I imagine other phases will also.
I realize the Radical Right needs to push their agenda, but it seems counter productive to me.
Food prices will eventually begin to follow suit, and I imagine other phases will also.
If falling gas prices (not falling that far) is good news, then skyrocketing gas prices was very bad news, but you guys were on here bending over backwards to spin it in a different direction.
Your post is what is known as the pot calling the kettle black.
Do you think Yellen wasn’t pushing an agenda when she said that inflation was transitory, or that the housing bubble was a ‘bump in the road’?
I just asked why you trusted her.
Do you have a reason besides hoping she is right?
Nope, just begging foreign nations to flood the markets while we keep our pumps in the off position. Gotta get those prices down before mid-terms. Duh.
The hiccup for those predicting a recession is we have an extremely strong labor market where anyone wanting a job has one.
That's why this is so unusual. People have pent up demand after Covid. People have $$$ to spend.
This isn't even remotely similar to 2008.
So any comparison is irrelevant.
Currently, gas is about $.50 higher than a year ago. I fully expect we see at least another $.50 drop by October.
You saying we haven't seen a significant drop in the last 4-5 weeks is flat out wrong. Everyone acknowledged that increase in Feb/March was troubling. And most realized the reasons...a roaring economy coming out of Covid.
Your doom and gloom agenda is just parroting right wing media.
Pure and simple.
She has access to data that everyday Mericans don't.
It's as if you can't accept things are improving and it started with the WH calling out Big Oil's price gouging.
Do you think the 'WH calling out Big Oil' is what made gasoline inventories start growing instead of shrinking in early June, or did the $5/gal price do that?
Thats not the definition of a recession any more.
Inventories increased because Big Oil assumed Mericans would accept paying higher prices. Why not flood the market if you can make record profits?
Demand dropped somewhat as consumers said "Fvck you, Big Oil"
Now we're getting back to a real supply and demand scenario.
Again.. I don't understand the segment of Radical Right media that continues to want to spread fear. Just watch Fox Opinion Network...it's 24/7 bashing of Biden. No trace of objectivity.
Actually I do understand why.. MIDTERMS!
Edit...down another $.03 this morning.
Last edited:
