Commander Dutch
Sworn to support and defend the Constitution
....and they only do it because the Talking Lightbox tells them to do so.
Recession
- Thread starter Cypress
- Start date
....and they only do it because the Talking Lightbox tells them to do so.
ThatOwlWoman
Leftist Vermin
Which is exactly why we are seeing such high demand for stuff now, which is driving prices upward. During the pandemic many people did not travel, go out for entertainment or to dine, do recreational shopping, etc. Now they have cash and they're gonna spend it.
ThatOwlWoman
Leftist Vermin
Yep. Dutiful stooges. BTW, the idiocy about "drill, baby, drill" is also impractical -- without refinery capacity what is the point of extracting more oil? We're at close to 100% utilization now.
US Utilization of Refinery Capacity
93.70% for Wk of Jul 15 2022
cawacko
Well-known member
As I understand it new starts in housing are a leading indicator. When developers feel good about the economy they want to build. When the economy is slowing down they pull back. (Existing home sales are a lagging indicator.)
Right now new housing starts and permits are falling (rather fast). Not a good sign. Now there’s still pent up demand for housing so maybe that will hopefully overcome the lack of builder confidence and keep the market strong.
Commander Dutch
Sworn to support and defend the Constitution
Agreed. People are tired of being afraid and want to live.
It's for this same reason that I believe that the MAGA minority will fail. All those who believe in "civil war", tearing down the entire Federal government and murdering all those Americans with whom they disagree are directly at odds with the vast majority of Americans who want to build a better future.
Most Americans can step outside their homes and see Middle-Class America. When they can't, that's when there will be a problem. LOL
Commander Dutch
Sworn to support and defend the Constitution
Agreed. Another point the idiots keep missing is that, unless they nationalize the oil companies, those same companies will sell the oil to the highest bidder, not just American ones. The dumbasses don't know shit about capitalism and economics.
ExpressLane
Verified User
Making An observation isn’t blaming I’m just not giving Biden credit for something that happens every year.You should be crediting it, not blaming it.
ThatOwlWoman
Leftist Vermin
No, they don't. Guess they don't teach that anymore, or they were under the bleachers with Kathy that day. lol
This is for them:
Good point.
The arguments for drilling anwr may have had some merit 20 years ago, but with the development of fraking and enhanced oil recovery, they just make ANWR seem less attractive. The economics of fraking are a fraction of what ANWR oil development and production would be. I am not even really against fraking in California.
ThatOwlWoman
Leftist Vermin
ANWR is just a Reichwing talking point used for propaganda, ditto for the Keystone pipeline.
christiefan915
Catalyst
Note that neither of our comments had to do with Biden. I was talking linguistics, not politics.
Commander Dutch
Sworn to support and defend the Constitution
It's based on the same faulty premise that a self-sufficient oil supply for the US means gas prices will remain low at home. What they fail to consider is that Exxon and the other oil corporations have a fiduciary duty to sell their oil to the highest bidders.
In short, while Americans will see a slightly reduced price in gas due to proximity to the refineries, the refineries only have a limited capacity to produce fuel. Even when running at maximum. Aren't they running at maximum now?
A slight price savings won't change the fact the US will never see $1.50 gas again no matter how much jizz the Trumpers suck up on the subject.
ThatOwlWoman
Leftist Vermin
U.S. refineries are running close to 100%. So even if we suddenly found a brand new oil field in a location convenient for drilling and shipping, it wouldn't help. You are right about the fiduciary duty to sell to the highest bidder. Either the Reichtards want government control of private industries like the oil & gas corporations, or they want capitalism. Can't have both.
US Utilization of Refinery Capacity
93.70% for Wk of Jul 15 2022
It's already here you delusional retard.
Under Trump we were net energy exporters including petroleum and now we bend the knee to the House of Saud and OPEC again you treasonous swine are all destined for the rope.
Surging oil prices have always led to economic slowdown.
Why would this be any different?
Oil prices rise until driving slows down, then they slowly fall.
Always been that way.
cawacko
Well-known member
I think we are saying the same thing. The article in the OP lays out why they think there won’t be a recession. The follow up post was gas prices are dropping. I interpreted the latter post as saying lower gas prices are a sign we won’t have a recession when it reality, right now, it’s actually the opposite.
I think inflation itself is more to blame for inflation than the pandemic recovery.
OK, that's not funny but, I also think Corporate America has adjusted and increased their prices to a point, that it is causing them more problems in terms of competition, than it does us.
For example; Just look at all that red meat being ignored, left in the meat counters, untouched overnight- NEXT DAY- Giant HAMBURGER Sale EVERYBODY!!
I just drove through McDonalds for breakfast- I WAS THE ONLY ONE IN LINE! That has never happened to me before.
Yes, I believe people are doing without as a protest, as if to say, "No! I refuse to pay that much for that shit"!
Along with pricing us out of the market, they are pricing themselves out of business!
The price of everything is about to come back down wind-falling back to Earth.
"Retail sales data releases can have large impacts on the markets and consumer-driven sectors in particular. US Retail Sales is at a current level of 594.50B, up from 588.64B last month and up from 551.84B one year ago. This is a change of 1.00% from last month and 7.73% from one year ago."
Guno צְבִי
Am Yisrael Chai
There have been 11 recessions since 1948, averaging out to about one recession every six years.
cawacko
Well-known member
Where are seeing that? Everything I’ve read has shown retail sales dropping. Because of inflation the dollar amount of sales has actually increased but the sales themselves decreased.
https://www.cnbc.com/amp/2022/06/15...nt3percent-decline-hammered-by-inflation.html