Recession

ThatOwlWoman said:
Ah, the typical RWNJ talking points, I see. Funny how you guys constantly claim that "Biden killed domestic production," but can produce not a single scintilla of evidence proving that false assertion. Hint: ANWR oil, if any, is at least a decade away from the refinery. The Keystone was for Canada's tar sands oil, not for domestic U.S. use. The oil companies are sitting on millions of dollars worth of leases they are not exploiting.

Give it a rest.
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land of the left


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dukkha said:
worthless as usual .I posted a link to the question at hand.you went full retard
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The fact you can't see you are always attacking the US in one way or another but never attacking Putin is telling comrade Dookie.
Please don't become upset because I'm pointing out the obvious. I'm just having fun against anti-Americans, traitors and their supporters. :)
 
Dutch Uncle said:
Why not?

BTW, for those in need: https://partners.thepennyhoarder.com/50-side-jobs-desktop-prt/
50 (Legal) Ways to Boost Your Bank Account This Week
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The oil is there.

The question is how much is recoverable and how profitable is it really is to drill, transport, refine, and market.

That is from the scientific and technical perspective.

Exxon is a global multinational that generally only is enthusiastic to take on the blue chip, world class prospects.

I always thought the primary reason oil patch management wanted ANWR open is that it would set a precedent for opening all Federal lands and wildlife habitats to exploration. And that can only be a good outcome for the industry.
 
Dutch Uncle said:
The fact you can't see you are always attacking the US in one way or another but never attacking Putin is telling comrade Dookie.
Please don't become upset because I'm pointing out the obvious. I'm just having fun against anti-Americans, traitors and their supporters. :)
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fucking idiot. Im not "attacking"anything you doofus.
I posted a link to an article with 5 economists with differing POVs
 
dukkha said:
fucking idiot. Im not "attacking"anything you doofus.
I posted a link to an article with 5 economists with differing POVs
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Disagreed, Dookie.

Putin needs to train his idiots better, I'm not talking about a single post, comrade. I'm talking about your trend for as long as I've known you. It's the tone, not the facts. Facts are facts, attitudes vary.

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cawacko said:
From WSJ today stating there are signs inflation may have/likely peaked in June but its expected fall will be slow and thus the Fed will continue raising rates which increases the chance of recession.


https://www.wsj.com/articles/there-...-it-come-down-fast-enough-11658568604?mod=mhp
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It could be a lot of things. Most of this is working the trends as economic numbers role in. It's the motivators of those trends that matters and that involves the collective will of the American people.

Remember when GW asked Americans to go to the mall after 9/11? The economy was faltering because Americans were afraid to leave their homes. Remember SARS hit only a couple years later causing a similar reaction. Without Americans spending their paychecks (and having paychecks to spend) the economy doesn't move.

https://foreignpolicy.com/2013/04/1...h-urged-people-to-go-about-their-daily-lives/
One of the many caricatures that has arisen in the years since 9/11 is the charge that President Bush’s primary exhortation to the American people in the aftermath of the tragedy was simply to "go shopping." I have heard this charge countless times, usually offered as a laugh line, in the manner of a snarky late-night comedian’s monologue about "how dumb can someone be to think that shopping is a response to terrorism?"

In some of his early remarks after 9/11, President Bush did urge not to be afraid to "go shopping for their families," as part of a general appeal not to be intimidated from an ordinary daily routine. And he even encouraged Americans to "go to Disneyworld," as part of broader appeal to renew confidence in the safety of air travel.

Of course, he also made it clear that the struggle against terrorists would involve many other sacrifices and, over the years, much more was asked of the American people. But President Bush also made it clear that the terrorists would like to intimidate us out of normal living and that if we give into that fear we can compound the damage inflicted by the terrorists. So part of a comprehensive response that mobilized all elements of national power — military, diplomatic, intelligence, law enforcement, economic, and psychological — would involve ordinary Americans refusing to surrender to fear of terrorists.
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dukkha said:
interest rate s are going to have to go up significantly unless we are in a recession already..
but my guess is even a mild recession wont stop inflation
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We could be in a recession now but that’s not going to stop them from raising rates until they feel inflation is largely tamed. It’s interesting to read in hindsight about how the Fed handled rates in 70’s. They would raise them but instead of going all the way to stamp out inflation they would pull back when the economy slowed down and we all saw how bad they turned out. It wasn’t until Volker said F it, I’ll push the country into deep recession if I have to to break the back of inflation. Which he did.

Powell’s rhetoric leans towards being more of a Volker but actions speak louder than words so we’ll see.
 
cawacko said:
We could be in a recession now but that’s not going to stop them from raising rates until they feel inflation is largely tamed. It’s interesting to read in hindsight about how the Fed handled rates in 70’s. They would raise them but instead of going all the way to stamp out inflation they would pull back when the economy slowed down and we all saw how bad they turned out. It wasn’t until Volker said F it, I’ll push the country into deep recession if I have to to break the back of inflation. Which he did.

Powell’s rhetoric leans towards being more of a Volker but actions speak louder than words so we’ll see.
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I keep reading about Greenspans "soft landing",but i wonder just how much the dot-com bubble increased growth// it's like trying to read tea leaves..wait till at least we get Q2 GDP numbers for any more speculation (on my part)
 
ThatOwlWoman said:
Ah, the typical RWNJ talking points, I see. Funny how you guys constantly claim that "Biden killed domestic production," but can produce not a single scintilla of evidence proving that false assertion. Hint: ANWR oil, if any, is at least a decade away from the refinery. The Keystone was for Canada's tar sands oil, not for domestic U.S. use. The oil companies are sitting on millions of dollars worth of leases they are not exploiting.

Give it a rest.
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Not according to Politifacts

Gillibrand said the Keystone XL pipeline "doesn’t even have any oil for America."

Experts say the oil will not be exported straight to other countries, as Gillibrand said.

It is true that exports of petroleum products from Gulf Coast refineries have increased considerably in recent years. That’s part of why PolitiFact rated a similar statement by Obama Mostly False in 2014. While the trend adds a grain of truth to her claim, it does not mean all of the oil that will come from the Keystone XL pipeline will be immediately exported.

We rate Gillibrand’s claim Mostly False.
 
dukkha said:
I keep reading about Greenspans "soft landing",but i wonder just how much the dot-com bubble increased growth// it's like trying to read tea leaves..wait till at least we get Q2 GDP numbers for any more speculation (on my part)
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That’s always the Fed’s goal, raise rates enough to slow down/stop inflation but not too much that they cause a recession.

Is it possible that could happen now? Yes. Is it likely? The article in the OP aside, from what I read chances aren’t high .
 
Cypress said:
.
Recession may not come after all, economists say

-- Economic strength defies forecasts of downturn but risks remain, experts said --

As recession forecasts have grown dire in recent months, they've faced one complication: Strong economic data.

The U.S. showed robust job growth last month, defying expectations of a slowdown and keeping the unemployment rate at a near-historic low of 3.6%. Meanwhile, retail spending, a key indicator of economic health that reflects consumer appetite, rose 1% in June, outpacing gloomier predictions -- even if some of that increase can be attributed to rising prices due to inflation.

https://abcnews.go.com/amp/Business/us-economy-avoid-recession-economists/story?id=86449369
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Nice fantasy. JOBLESS CLAIMS ARE UP, NOT DOWN, and the 2nd Quarter GDP is almost certain to be NEGATIVE GROWTH ,for the 2nd quarter in a row.
 
cawacko said:
The article in the OP talks about the hot job market but it doesn’t mention jobs are a lagging indicator and it doesn’t mention unemployment claims hit an eight month high. Not trying to be negative but these are realities. Either the article was written awhile back or it left out new data points in the job market.

https://www.cnbc.com/amp/2022/07/21...nother-sign-that-labor-market-is-cooling.html
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Another reality is trends in various markets. As posted earlier, the Great Recession saw the economy come humming back but the low end workers lagged for years.

Same for your "unemployment claims". There's a big difference between laying off highly skilled labor and laying off ditch diggers. Which areas of the economy are seeing higher unemployment?
 
Cypress said:
When I worked in the oil and gas exploration division of Exxon, we weren't all that excited about the economic potential of ANWR oil.
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It's only enticing to low-info Reichwingers. The cost of exploration, extraction, and transporting it is equal to if not more expensive than the original Alaska pipeline from the North Slope.
 
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