Brandonflation

Concart said:
Excess reserves are not part of the money supply. Perhaps you should read up on that.
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:rolleyes:

'Fed liabilities of $8.9 trillion as of March 31, 2022 included $4.6 trillion in deposits by banks and the U.S. Treasury, $2.22 trillion in Federal Reserve notes (i.e., currency in circulation), and $2.04 trillion in reverse repurchase agreements.'

https://www.investopedia.com/articles/economics/10/understanding-the-fed-balance-sheet.asp

Are the Fed's $4.6 TRILLION deposits by banks 'part of the money supply'?

Yes or no?
 
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Lionfish said:
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Biden didn't cause this inflation but rest assured it will be gone by the time the next election gets here.
 
ExpressLane said:
Actually it was about the same as when Trump took office. Inflation did not change significantly until Biden took office and started with his anti fossil fuel agenda. The annual inflation rate for 2016 was 2.1% , 2017 was 2.1% , 2018 was 1.9%, 2019 was 2.3%, 2020 was 1.4%, 2021 was 7.0%, 2022 is 8.2%

https://www.usinflationcalculator.com/inflation/current-inflation-rates/
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This countries oil production is about to set a record and be significantly higher than it ever was under Trump. Where the fuck you get "anti fossil fuel agenda" only the fucking ignorant right winger knows.

U.S. crude oil production in our forecast averages 11.7 million b/d in 2022 and 12.4 million b/d in 2023, which would surpass the record high set in 2019.

The U.S. oil industry is gushing, with record production expected in 2023
https://fortune.com/2022/02/18/oil-production-permian-basin-rises-2023/
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U.S. Oil Production To Hit New Record In 2023
https://oilprice.com/Energy/Energy-General/US-Oil-Production-To-Hit-New-Record-In-2023.html
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Lionfish said:
‘I expect a tsunami of shutoffs’: 20 million American households are now behind an average of $788 on their utility bills — here are 3 simple ways to drop your monthly costs

"The U.S. consumer price index rose 8.2% in September from a year ago — down from a 40-year high of 9.1% in June. But hot inflation continues to hit consumers hard.

According to the National Energy Assistance Directors Association (NEADA), roughly 20 million households in the U.S. — one out of six homes — are behind on their utility bills."
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thank god the democrats still hold the senate. Imagine how badly they could have fucked things up if the republicans controlled it.
 
ExpressLane said:
Biden's anti fossil fuel energy policies had a chilling effect on the fossil fuel industry. Who wants to invest when the administration says no new drilling and no coal. Everything that is grown shipped or manufactured depends on fossil fuels. By his anti fossil fuel policies he has escalated the price of everything. By removing millions of barrels of oil from the world market he has increased the price of energy worldwide. And that is inflationary worldwide. If you think the amount of oil that the US produces does not effect the price of oil why does releasing oil from the SOR cause the price of oil to decrease? .

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Chilling effect? Our fossil fuel industry is about to break every record ever set for oil production in this country and it's going to do it under Biden.
 
Port Tack said:
Chilling effect? Our fossil fuel industry is about to break every record ever set for oil production in this country and it's going to do it under Biden.
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Oh gee. During the Trump administration oil production topped 402,314 (thousands of barrels a month) and 3 years later we have just done 371, 223. During the Trump administration oil production rose from 275,117 to 402,314 a month a 145% growth. During the Biden administration production started at 398, 420 and dropped to 277,891 and has slowly risen to 371,223 not even where they started at.. If the Biden administration had the same growth rate as Trump's we would be producing 578,420 (thousand barrels) a month not the 371,223 or just 93% of what the Biden administration started with. We should be producing over 207,197 (1000 barrels) a month more than we are.

https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=pet&s=mcrfpus1&f=m
 
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ExpressLane said:
Oh gee. During the Trump administration oil production topped 402,314 (thousands of barrels a month) and 3 years later we have just done 371, 223. During the Trump administration oil production rose from 275,117 to 402,314 a month a 145% growth. During the Biden administration production started at 398, 420 and dropped to 277,891 and has slowly risen to 371,223 not even where they started at.. If the Biden administration had the same growth rate as Trump's we would be producing 578,420 (thousand barrels) a month not the 371,223 or just 93% of what the Biden administration started with. We should be producing over 207,197 (1000 barrels) a month more than we are.

https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=pet&s=mcrfpus1&f=m
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I have been making the claim for quite awhile now, well, it's here.....


US crude oil production breaks new record high
Crude oil production in the U.S. reached a new record high of 12.9 million barrels per day (bpd) for the week ending Nov. 22, according to data released by the Energy Information Administration (EIA) on Thursday.
The world's biggest crude oil producer saw its output increase by 7,000 bpd in the state of Alaska and 100,000 bpd in other states excluding Hawaii, bringing total crude output in the country from approximately 12.8 million bpd to 12.9 million bpd.

The last time the U.S.' crude oil production reached a record high level was for the week ending Nov. 8 when output climbed to 12.8 million bpd, according to the EIA's data.
https://www.aa.com.tr/en/energy/ref...e-oil-production-breaks-new-record-high/27533
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It seems the last time this weekly record was broken was just 2 weeks prior. So Biden broke that oil production record twice in just 2 weeks.
 
Jarod said:
Those numbers are wildly off, at least based on my trip to Ingles yesterday.
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Turkey is up, butter is up and eggs are up for sure.
The price per pound of an 8- to 16-pound turkey has risen to $1.99, a 73% increase from $1.15 last year, according to USDA data.


https://www.ams.usda.gov/mnreports/pywretailturkey.pdf


The price of butter is sky-high and ‘not going to come down,’ says supply chain expert—here’s why


Egg Prices Soar in October to Top US Food Inflation List
 
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Jarod said:
I paid $.64 a pound.
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I got a free bird with a $100 purchase I ended up getting two birds one to smoke and one to roast. They are thawing right now. I'm brining them tonight. I got some enormous zip lock bags to brine them in. I'll inject them tomorrow and cook them early Thursday. One in the oven and one in the Pellet grill smoker.
 
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