Financial Crisis-2022

Heres one for you.....

https://www.reuters.com/business/energy/russias-gazprom-declares-force-majeure-gas-supplies-europe-2022-07-18/

Dave58 wrote:Heres one for you.....

https://www.reuters.com/business/energy/russias-gazprom-declares-force-majeure-gas-supplies-europe-2022-07-18/

I'm not sure, but I think TRex predicted this, people will freeze to death in the EU this winter.

And crow bait joe is doing the same thing to us over his new green deal, his executive orders will be forth coming, maybe tomorrow.

The good thing is, the demonrats and turncoats will be freezing to death too, this is what they voted for.

AOC was arrested in DC

The Feds raise interest rates 3/4 percent (again):

https://apnews.com/article/federal-reserve-interest-rate-hike-live-updates-6dab38b8235bc62bdf69b4710c6b84f5

The U.S. consumer confidence falls again:

https://www.barrons.com/articles/consumer-confidence-july-drop-51658847326

China and the U.S. central bank, been going on for a long time:

https://news.yahoo.com/china-waging-secret-decade-long-172455980.html

Seems like the U.S. financial system is turning to and crow bait joe and his cronies say we're not heading towards a recession, what a bunch of 's

rick1 wrote:The Feds raise interest rates 3/4 percent (again):

https://apnews.com/article/federal-reserve-interest-rate-hike-live-updates-6dab38b8235bc62bdf69b4710c6b84f5

The U.S. consumer confidence falls again:

https://www.barrons.com/articles/consumer-confidence-july-drop-51658847326

China and the U.S. central bank, been going on for a long time:

https://news.yahoo.com/china-waging-secret-decade-long-172455980.html

Seems like the U.S. financial system is turning to and crow bait joe and his cronies say we're not heading towards a recession, what a bunch of 's

Well, the 2nd quarter GDP is a -.9%, now, most would say you are officially in a full blown recession. But crow bait joe and his bunch of financial clowns say we are not.

https://www.msn.com/en-us/money/markets/us-economy-shrank-09-25-in-the-second-quarter-entering-technical-recession/ar-AA1046Ep

Now, Joe Manchin has agreed to almost a 1/2 trillion dollar new green deal, except they renamed it something like an inflation reconciliation bill. You can call it what you want, but taxing corporations a minimum of 15% will just trickle down to us and/or lead to people losing their jobs.

You think inflation is bad now, just wait. I'm going to have to start selling pencils down in front of the bank.

https://www.cnbc.com/2022/07/27/manchin-announces-deal-with-schumer-on-reconciliation-bill-with-tax-climate-energy-provisions.html

rick1 wrote:Well, the 2nd quarter GDP is a -.9%, now, most would say you are officially in a full blown recession. But crow bait joe and his bunch of financial clowns say we are not.

https://www.msn.com/en-us/money/markets/us-economy-shrank-09-25-in-the-second-quarter-entering-technical-recession/ar-AA1046Ep

Well they can redefine a pig to be a kangaroo, but that doesn't make it so.

Frankly, with the influx of illegals, over the past 19 months, the bar for being in recession should be placed at "less than +0.75%" growth, so we are actually deep into a recession.

Now, Joe Manchin has agreed to almost a 1/2 trillion dollar new green deal, except they renamed it something like an inflation reconciliation bill. You can call it what you want, but taxing corporations a minimum of 15% will just trickle down to us and/or lead to people losing their jobs.

You think inflation is bad now, just wait. I'm going to have to start selling pencils down in front of the bank.

https://www.cnbc.com/2022/07/27/manchin-announces-deal-with-schumer-on-reconciliation-bill-with-tax-climate-energy-provisions.html

That article makes alarm bells go off in my head, in almost every paragraph. Lots of political propaganda (invest? taxpayer dollars) empty promises (reduce the deficit, over a period of years) and plenty of woke stuff (reduce carbon).

Let us be clear:
Government spends money. Pretending it will invest X amount over the next Y years is just pretending to know the future. Pretending makes children happy, and does nothing for adults.

Government spending money, it doesn't have, causes inflation. Corporations don't pay taxes, they collect taxes from us. Increased taxes drives us towards (or deeper into) recession. No promise to reduce the deficit in future years should be taken seriously.

A bill that has deficit spending and a tax increase built into it will drive us further into stagflation.

The only good thing I have to say is that it isn't as bad as the previous Build Back Broke bill that Biden put forth.

You can tell we're in a financial crisis, people are running out of cash, credit card debt hits an all time high:

https://www.cnbc.com/select/us-credit-card-debt-hits-all-time-high/

Current average credit card interest is 17.92%, out of sight, and it's going to go even higher:

https://www.creditcards.com/news/rate-report/

This is no surprise

https://finance.yahoo.com/news/saudi-arabia-raises-oil-prices-091735547.html

Well boys and girls, you may want to get a second job, or if retired, you may want to get a job flipping burgers at McDonalds.

Looks like crow bait joe's newest addition on his spending spree may pass.

Here's two different reports, one of the reports is from May 2022 on his trillion dollar bill:

This link is for the current spending spree, which was originally for 350 billion dollars but it's up to 750 billion dollars:

https://republicans-budget.house.gov/press-release/cbo-confirms-democrats-plan-wont-reduce-inflation-showers-benefits-on-wealthy-and-harms-americas-economy/

This link is for the last trillion dollar crow bait got:

https://www.washingtonexaminer.com/restoring-america/faith-freedom-self-reliance/inflation-reduction-act-or-radical-green-new-deal

P.S. If you read the entire 800 page bill, you will see that all fossil fuels are going to get hit with a fossil fuel tax, which of course will be passed down to each of us, electricity, gas, diesel, heating oil, natural gas, etc.. It's real sad what this clown and his administration is doing to this country and to its legal citizens.

Looking for a part time job, you may need it. The demonrats will pass that spending bill, raises taxes on the big companies, taxes energy companies, etc..

All fuels will be going up, how soon, don't know. BUT you can bet it's going to cost a lot more for you gas, diesel, heating oil and electricity.

OH and the 80,000 plus IRS agents they're going to higher, if you fill out long form, you will be audited:

https://www.foxnews.com/live-news/senate-set-for-vote-a-rama-on-democrats-social-spending-and-tax-bill-live-updates

rick1 wrote:...
OH and the 80,000 plus IRS agents ...

This is the scariest part of the package, in my view.
Having too many IRS, or Cops, or any other agency with authority is always trouble.

Acton's Maxim: Power corrupts ...

TRex2 wrote:

rick1 wrote:...
OH and the 80,000 plus IRS agents ...

This is the scariest part of the package, in my view.
Having too many IRS, or Cops, or any other agency with authority is always trouble.

Acton's Maxim: Power corrupts ...

STORES & RESTAURANTS are closing, because they can't find workers. Do you really think they will find those 80+ thousand new IRS agents?? Have you seen Wash DC, lately? It's like a ghost town around these federal offices. It'll be interesting to see how this pans out.

ReadyMom wrote:

TRex2 wrote:

rick1 wrote:...
OH and the 80,000 plus IRS agents ...

This is the scariest part of the package, in my view.
Having too many IRS, or Cops, or any other agency with authority is always trouble.

Acton's Maxim: Power corrupts ...

STORES & RESTAURANTS are closing, because they can't find workers. Do you really think they will find those 80+ thousand new IRS agents??  Have you seen Wash DC, lately? It's like a ghost town around these federal offices. It'll be interesting to see how this pans out.

ReadyMom, most of the new IRS agents are nothing more then accounts and will not be working in DC, they will be working in every state, mostly around cities. Now, the IRS also has a criminal division, these guy's are the ones that carry the guns and go out to make arrests and are classified as federal law enforcement.

The hiring process will begin by placing ad's in newspapers and online, these positions will be for accounts (about 95%) and the other 5% will be for the criminal division.

I got my job with the DOJ/Federal Bureau of Prisons by answering an ad in the local city (Johnstown) paper.

Shortly after 9/11 congress said they were going to hire something like 23,000+ CBP Inspectors. Never happened. More like 1,300 were actually hired over a 3 year period. And RM is right, you'll never fill even 8,000 of those jobs. Long and fairly intense background and you gotta pee in a cup. Fewer than 1 in 10 applicants pass. Weed is still illegal on the federal level.

And what is the incentive to join a notoriously hated agency as a college grad with an accounting degree? The entry level pay is squat. Too many white collar jobs now offer 100% work from home. Many IRS neighborhood centers have closed. Two were within an hour of me shut prior to Covid.

No doubt part of this price gouging is to get the retiree and low income worker back in the workforce to drive down wage inflation. The Target closest to me pays $18/hr. To start. The closest Mickey D's still has only the drive thru open. The drive thru pays $17/hr. And I live in Podunk.

Consumer price index fell to 8.5%, 'cause gas prices are falling (for now). But food prices increased by 1.1%.

https://finance.yahoo.com/news/consumer-price-index-shows-inflation-133715466.html

Blondie wrote:Shortly after 9/11 congress said they were going to hire something like 23,000+ CBP Inspectors. Never happened. More like 1,300 were actually hired over a 3 year period. And RM is right, you'll never fill even 8,000 of those jobs. Long and fairly intense background and you gotta pee in a cup. Fewer than 1 in 10 applicants pass.  Weed is still illegal on the federal level.

You are right about that.

And what is the incentive to join a notoriously hated agency as a college grad  with an accounting degree?  The entry level pay is squat. Too many white collar jobs now offer 100% work from home. Many IRS neighborhood centers have closed. Two were within an hour of me shut prior to Covid.

Some actually closed, others, however, went underground (not literally, but that is another story). One, I know of, after McVeigh displayed his displeasure with the FBI and BATF, quietly took down all of their signs and stopped telling anyone they were an IRS facility. (shades of Gestapo, anyone). I know where they are, and they are still IRS. The IRS sent me a letter, asking about an entry on my 1040, and used an unlisted zip code in their return address, so I did some research. I used to live right up the street from that building. It is about 10 miles from where someone flew a small plane into an IRS office window, in one of their publicly known facilities. I am sure that heightened their motivation to keep some of their facilities confidential.

No doubt part of this price gouging is to get the retiree and low income worker back in the workforce to drive down wage inflation. The Target closest to me pays $18/hr. To start. The closest Mickey D's still has only the drive thru open. The drive thru pays $17/hr. And I live in Podunk.

It will probably stay that way until they "renovate" and "modernize." Most Mickey D's have dismissed most of their counter staff, and replaced them with "kiosks" for ordering. I refuse to go there any more. (Rarely did before, now never.)

Losing on your pension/IRA and paying higher energy costs, this is a few things that this new Inflation Reduction Act does to every American, thanks to joe crow 2.0 and his demanrats.

Here at home, heating oil is still at $4.00/gallon, gas is still at $4.00/gallon and hard coal is now $320.00/ton, that's a 22% increase from just last week and it's going to go higher:

https://www.breitbart.com/politics/2022/08/08/atr-taxes-on-fuel-business-medicines-and-more-in-inflation-reduction-act/

Looking to see what's going to go up in price, well look no further, that's if you like beef:

https://www.foxbusiness.com/economy/meat-prices-could-soar-even-more-drought

Let's not forget about your electric bill, how about let's just increase that too. Here in PA, rates are going up again September 1st. Best check the rates in your state:

https://www.wearecentralpa.com/news/local-news/electric-prices-to-increase-again-in-pennsylvania-puc-announces/

All rate hikes are 'cause of our #1 joe crow 2.0

rick1 wrote:Looking to see what's going to go up in price, well look no further, that's if you like beef:

https://www.foxbusiness.com/economy/meat-prices-could-soar-even-more-drought

Let's not forget about your electric bill, how about let's just increase that too. Here in PA, rates are going up again September 1st. Best check the rates in your state:

https://www.wearecentralpa.com/news/local-news/electric-prices-to-increase-again-in-pennsylvania-puc-announces/

All rate hikes are 'cause of our #1 joe crow 2.0

Ya know, it's bad enough what we pay for everyday goods (above links), but it's going to get even worse. It's going to get real bad if a certain political group gets their way after the upcoming elections. You just can't make this stuff up:

https://www.foxbusiness.com/politics/republicans-slam-dems-plans-increase-taxes-2023-lefts-holy-grail-tax-hikes

rick1 wrote:...

Ya know, it's bad enough what we pay for everyday goods (above links), but it's going to get even worse. It's going to get real bad if a certain political group gets their way after the upcoming elections. You just can't make this stuff up:

https://www.foxbusiness.com/politics/republicans-slam-dems-plans-increase-taxes-2023-lefts-holy-grail-tax-hikes

Yep. There is a lot riding on the upcoming election, and in places like PA, the Right has to beat the Leftist Insurgents by at least 20% or the Demoncrats will change the election through fraud.

Electric rates seem to be going up anywhere from 5% to 45% every quarter, now they may go up even more. Liberal judge reinstates ban on coal sales:

https://www.foxnews.com/world/judge-reinstates-obama-era-ban-coal-sales-federal-land

rick1 wrote:Electric rates seem to be going up anywhere from 5% to 45% every quarter, now they may go up even more. Liberal judge reinstates ban on coal sales:

https://www.foxnews.com/world/judge-reinstates-obama-era-ban-coal-sales-federal-land

From the link:

Friday's ruling from U.S. District Judge Brian Morris requires government officials to conduct a new environmental review prior to resuming coal sales from federal lands. The judge said the government's previous review of the program during the Trump administration had not adequately considered the climate damage from coal's greenhouse gas emissions, among other effects.

The Supreme Court, just last month, IIRC, ruled that they don't have the jurisdiction to "consider climate change from coal's greenhouse gas emissions."

But then, why would a woke judge bother to follow the law. /sarcasm

TRex2 wrote:

rick1 wrote:Electric rates seem to be going up anywhere from 5% to 45% every quarter, now they may go up even more. Liberal judge reinstates ban on coal sales:

https://www.foxnews.com/world/judge-reinstates-obama-era-ban-coal-sales-federal-land

From the link:

Friday's ruling from U.S. District Judge Brian Morris requires government officials to conduct a new environmental review prior to resuming coal sales from federal lands. The judge said the government's previous review of the program during the Trump administration had not adequately considered the climate damage from coal's greenhouse gas emissions, among other effects.

The Supreme Court, just last month, IIRC, ruled that they don't have the jurisdiction to "consider climate change from coal's greenhouse gas emissions."

But then, why would a woke judge bother to follow the law. /sarcasm

I didn't know the supreme court made a ruling.

Demonrats are now pushing for higher taxes on individuals and corporations, if they retain power after the Nov. elections. You'd think even the demonrat voters wouldn't want higher taxes:

https://www.foxnews.com/politics/republicans-vying-tax-committee-chair-hit-back-democrat-promised-higher-taxes-dems-hold-house

rick1 wrote:
I didn't know the supreme court made a ruling.

This article discusses the ruling I was referring to.
https://www.natlawreview.com/article/supreme-court-limits-epa-s-authority-to-regulate-greenhouse-gas-emissions

The Court applied the “Major Questions Doctrine,” which applies a more skeptical review when an agency discovers in a “long-extant statute an unheralded power” representing a “transformative expansion in its regulatory authority” with substantial national impacts.  Slip op. at 5.  In such cases, the Court has held, a general delegation of authority may not be enough; rather, the agency’s action must be supported by clear statutory authorization.

Chief Justice Roberts drafted the majority opinion, which states:

Capping carbon dioxide emissions at a level that will force a nationwide transition away from the use of coal to generate electricity may be a sensible “solution to the crisis of the day.” New York v. United States, 505 U. S. 144, 187 (1992). But it is not plausible that Congress gave EPA the authority to adopt on its own such a regulatory scheme in Section 111(d). A decision of such magnitude and conse­quence rests with Congress itself, or an agency acting pur­suant to a clear delegation from that representative body.

It isn't as direct a prohibition as I thought, but the general idea is there: the statutes the agencies operate under do not give them authority to add "climate" to the list of things the environmental studies must take into consideration.

In the cases under review, woke judges are saying (even if the wording isn't explicit) that drilling and mining cannot take place, unless the environmental studies include examination of the carbon emissions caused by burning the fossil fuels mined or extracted through drilling. This is a clear violation of the intent of the Supreme Court ruling, not to mention a complete sham perpetrated on the coal, oil and gas industries.

I don't follow kitco.com or Peter Schiff, but if true, we're in for a wild ride, joe crow 2.0 better wake up and quite spending our money.

Everybody should be stocking up on everything, plant X-tra next year in your garden and stock up on what ever fuel you use to cook/heat with and hopefully it's not electricity, 'cause prices will be out of this world:

https://www.kitco.com/news/2022-08-11/A-Worse-Financial-Crisis-than-2008-Peter-Schiff-forecasts-sustained-and-higher-inflation-followed-by-an-implosion-of-the-U-S-dollar.html

rick1 wrote:I don't follow kitco.com or Peter Schiff, but if true, we're in for a wild ride, joe crow 2.0 better wake up and quite spending our money.

Everybody should be stocking up on everything, plant X-tra next year in your garden and stock up on what ever fuel you use to cook/heat with and hopefully it's not electricity, 'cause prices will be out of this world:

https://www.kitco.com/news/2022-08-11/A-Worse-Financial-Crisis-than-2008-Peter-Schiff-forecasts-sustained-and-higher-inflation-followed-by-an-implosion-of-the-U-S-dollar.html

It is likely that Peter Schiff is either wrong on the date, or wrong on how bad it will be. But, as preppers, we should be ready, just in case he is right.

$19.7 billion, with a B, tax on all fossil fuels, you think you pay too much for your natural gas, gasoline, heating oil and coal, nope, the "DEMORATS" want you to spend more or freeze. Not to mention the price you're going to pay for electricity.

I heard on One American News this morning, that the demonrats want to outlaw coal and wood burning stoves/furnaces. If you ain't got one now, you may want to get one, just in case.

When are the American people going to wake up and vote these   out of office:

https://thefederalist.com/2022/08/09/democrats-spending-bill-includes-20-billion-in-new-energy-taxes-that-will-drive-prices-higher/

rick1 wrote:$19.7 billion, with a B, tax on all fossil fuels, you think you pay too much for your natural gas, gasoline, heating oil and coal, nope, the "DEMORATS" want you to spend more or freeze. Not to mention the price you're going to pay for electricity.
...

The Demonrats have a stated goal of making fossil fuels too expensive to use.

Because of the nature of our system, it won't matter where that fossil fuel tax is applied, the cost will spread through the system to everyone. Just some before others. Therefore some straightforward math can be used: 100Million customers paying $20B is $200 per customer. Some will pay it at the gas pump, some at the grocer, and almost everyone will pay it in their utility bills.

Sen. Joe Manchin must have been smoking some good dope to come to the conclusions quoted in that article.

TRex2 wrote:

rick1 wrote:$19.7 billion, with a B, tax on all fossil fuels, you think you pay too much for your natural gas, gasoline, heating oil and coal, nope, the "DEMORATS" want you to spend more or freeze. Not to mention the price you're going to pay for electricity.
...

The Demonrats have a stated goal of making fossil fuels too expensive to  use.

Because of the nature of our system, it won't matter where that fossil fuel tax is applied, the cost will spread through the system to everyone. Just some before others. Therefore some straightforward math can be used: 100Million customers paying $20B is $200 per customer. Some will pay it at the gas pump, some at the grocer, and almost everyone will pay it in their utility bills.

Sen. Joe Manchin must have been smoking some good dope to come to the conclusions quoted in that article.

I grew up in the 70's I never smoked anything that made me act like that.....

International Monetary Fund (IMF) says, "THE WORSE IS YET TO COME":

https://www.forbes.com/sites/jonathanponciano/2022/10/11/worst-is-yet-to-come-imf-cuts-economic-outlook-and-warns-global-inflation-still-hasnt-peaked/

I was listening to CNBC at lunch time and they said that what you see now with inflation will get worse and will last for 2 or 3 years.

Read it and weep.

CORE inflation rose sharply in September and this does not include the price of food and energy:

https://www.washingtonexaminer.com/policy/economy/inflation-worse-than-expected-at-8-2-in-final-preelection-report

https://www.newsmax.com/finance/streettalk/consumer-price-index-inflation/2022/10/13/id/1091689/?ns_mail_uid=ed113837-94a1-4b8d-8fab-a7f206fd5031&ns_mail_job=DM387665_10132022&s=acs&dkt_nbr=010502jmsbz7

CBS nightly news, yep, I watched the fake news at times, had a clip of about 3 minutes on how Americans can conserve energy and stay warm this winter because of the high energy costs. What a joke our government is!!!!!!!!!!!!!!!!!

rick1 wrote:Read it and weep.

CORE inflation rose sharply in September and this does not include the price of food and energy:

https://www.washingtonexaminer.com/policy/economy/inflation-worse-than-expected-at-8-2-in-final-preelection-report

https://www.newsmax.com/finance/streettalk/consumer-price-index-inflation/2022/10/13/id/1091689/?ns_mail_uid=ed113837-94a1-4b8d-8fab-a7f206fd5031&ns_mail_job=DM387665_10132022&s=acs&dkt_nbr=010502jmsbz7

CBS nightly news, yep, I watched the fake news at times, had a clip of about 3 minutes on how Americans can conserve energy and stay warm this winter because of the high energy costs. What a joke our government is!!!!!!!!!!!!!!!!!

A year or so, ago, Biden said "lower your expectations." My wife was a non believer in all of this collapse theory, until then.

Now she has been quoting Biden (Lower your expectations!), almost every day.
Biden made a believer out of her, when I could not.

Ya know TRex, some women are hard to convince until they start living it, my wife is that way.

OH, and the trouble you get in when you say, "I told you so".

rick1 wrote:Ya know TRex, some women are hard to convince until they start living it, my wife is that way.

OH, and the trouble you get in when you say, "I told you so".

My wife has always been on board more or less , but convincing the mother in law was a different story until she couldn't find the things she likes to use when baking. Now she is " I will buy 3 or 4 and hide them under the bed"

There may be hope for her yet lol

Thanks to joe crow 2.0, a.k.a. corn pop, this is how much more you're spending a month/year 'cause of his and the demonrats spending and war on fossil fuels.

This is from 2 months ago (August), I'm sure it's more now.

AND it's predicted to get even worse:

https://www.foxbusiness.com/economy/inflation-costing-average-american-717-month-analysis-shows

rick1 wrote:Losing on your pension/IRA and paying higher energy costs, this is a few things that this new Inflation Reduction Act does to every American, thanks to joe crow 2.0 and his demanrats.

Here at home, heating oil is still at $4.00/gallon, gas is still at $4.00/gallon and hard coal is now $320.00/ton, that's a 22% increase from just last week and it's going to go higher:

https://www.breitbart.com/politics/2022/08/08/atr-taxes-on-fuel-business-medicines-and-more-in-inflation-reduction-act/

Hard coal is now 340.00/ton and heating oil is outrageous at 5.69/gallon, people will be freezing this winter. Here's what heating oil costs here, thanks to the head clown in D.C. and his demonrat followers:

https://www.sellooil.com/prices

rick1 wrote:Hard coal is now 340.00/ton and heating oil is outrageous at 5.69/gallon, people will be freezing this winter. Here's what heating oil costs here, thanks to the head clown in D.C. and his demonrat followers:

https://www.sellooil.com/prices

A couple days ago, you were telling me about the price for K-1 at WalMart,
( https://emergencyhomeprep.forumotion.com/t2221-2022-october-what-did-you-do-to-prep-this-week-month#15611 )
and now this, from today's link:

WE ARE NOT ABLE TO DELIVER ANY KEROSENE ORDERS UNTIL MORE BECOMES AVAILABLE

I guess WalMart got the last of the good stuff

Not really, the K-1 kerosene at walmart is the real good stuff, the stuff they put in your oil tank is the cheapest they make, but won't freeze like regular heating oil. It's used for oil tanks that are outside in the freezing weather.

But, I get what you're saying.

rick1 wrote:Not really, the K-1 kerosene at walmart is the real good stuff, the stuff they put in your oil tank is the cheapest they make, but won't freeze like regular heating oil. It's used for oil tanks that are outside in the freezing weather.
But, I get what you're saying.

Wow. This brings back memories of life in IL, back in the 60's.

I grew up on a corporate grain farm, just outside of Peoria, in the 60's, but move to a less rural area around 1970.

With the fed's raising interest rates, will the housing market be next to tumble, my bet is yep:

https://investorplace.com/2022/10/expert-reveals-3-indicators-of-a-giant-housing-market-crash/

Dig deep, you'll have to, in order to pay your heating and electric bills this winter.

I just paid my electric bill, the electric part went from .08/kwh to .10/kwh, a 25% increase, this is the 3rd increase in our electric bill this year.

https://www.foxbusiness.com/lifestyle/energy-bill-surge-consumers-shell-14b-more-winter

If this happens, it sure won't be good for the housing market, can anybody say CRASH:

https://finance.yahoo.com/news/mark-mobius-warns-us-interest-165250875.html

               

https://www.msn.com/en-us/money/companies/turkey-prices-are-73-25-higher-than-last-year-and-might-stay-that-way-through-thanksgiving-commodities-strategist-says/ar-AA136KlA

               

rick1 wrote:If this happens, it sure won't be good for the housing market, can anybody say CRASH:
https://finance.yahoo.com/news/mark-mobius-warns-us-interest-165250875.html

Everything is going to crash.

I find it interesting that most economists only discuss half of the equation at a time, like they are separable. Here is a quote from the article:

“If inflation is 8%, the playbook says you’ve got to raise rates higher than inflation, which means 9%,” the co-founder of Mobius Capital Partners told Bloomberg TV on Monday. While policy makers may not hike so aggressively should consumer prices soften, the 86-year-old investor said he doesn’t see inflation receding “anytime soon.”

Well that is right. You have to raise the interest rate higher than the inflation rate. But, you also have to keep it lower than the growth rate. The current published "growth" rate is about 2%, so you have to keep the interest rate below 2% or you push us into recession.

Of course, that is laughable. First, the real growth rate is 2% minus inflation, or negative 6% (even using their own, biased, numbers). Second, you can't be over 8% and under 2%. The inevitable result is going to be stagflation, as we saw in the Carter era.

Government spending is only part of the problem, although that part is getting bigger by the day. Last year, the two biggest parts of the problem were reduction in Oil production, as compared to where it should have been ( 4% above 2019 production ), and the reluctance of people to go back to work, which means less production in the supply demand equation.  

As the interest payments on our federal government's debt becomes unmanageable, we could see interest rates climb out of the control of the "Fed," (because no one will want to buy our government's bonds) forcing our government to print ever larger quantities of money to cover the interest payments. That could very well lead us in the direction of "hyperinflation." (There is a real definition for that word, and we are no where near it. Yet. )

Business titans are sounding the alarm over the current state of our economy. But old crow bait joe says our economy is strong.

Listen to the video:

https://www.foxbusiness.com/economy/these-business-titans-are-sounding-alarm-us-economy

How much money have you've lost in your 401K this year, well, they say the average 401K lost at least $34,000.00.

The total lose on 401K's is estimated to be 3.1 trillion dollars.

https://www.washingtonexaminer.com/policy/economy/401k-down-34000-inflation

rick1 wrote:How much money have you've lost in your 401K this year, well, they say the average 401K lost at least $34,000.00.
The total lose on 401K's is estimated to be 3.1 trillion dollars.
https://www.washingtonexaminer.com/policy/economy/401k-down-34000-inflation

I wish they would give it in percent.

If I lost $34K, I would go ahead and take the remaining $3.22 cents out, and buy a slice of pizza

Dementia joe crow 2.0 wants to turn the remaining 49 states into the state of Kilifornia, not good at all:

https://www.foxbusiness.com/economy/biden-attack-gig-work-is-uber-mistake

Prices will be soaring in the near future, and you'll be lucky to get what you want at the any store:

https://oilprice.com/Latest-Energy-News/World-News/A-Diesel-Shortage-Is-Spreading-Across-The-US.html

Use heating oil for home heating, rationing/shortages are here. Get yourself a couple pine cones to burn, you'll need them for the next couple of winters:

https://www.lawenforcementtoday.com/one-man-pandemic-biden-has-northeastern-us-facing-heating-oil-shortage/

As the southern people would say, "bless his soul"

rick1 wrote:Prices will be soaring in the near future, and you'll be lucky to get what you want at the any store:

https://oilprice.com/Latest-Energy-News/World-News/A-Diesel-Shortage-Is-Spreading-Across-The-US.html

Use heating oil for home heating, rationing/shortages are here. Get yourself a couple pine cones to burn, you'll need them for the next couple of winters:

https://www.lawenforcementtoday.com/one-man-pandemic-biden-has-northeastern-us-facing-heating-oil-shortage/

As the southern people would say, "bless his soul"

If the above isn't enough to get your goat, joe crow 2.0 has been threatening Saudi Arabia over them not producing more oil.

Well, Saudi Arabia is now threatening countries (U.S.) with more oil cuts.

Watch out folks, it's going to get a whole lot worse:

https://www.agweb.com/news/policy/politics/saudi-arabia-accuses-unnamed-countries-using-emergency-oil-reserves-manipulate

Thankx to joe crow 2.0 and his elite financial advisors, homeowners have lost $1.5 trillion dollars in equity:

https://www.newsmax.com/newsfront/homeowners-mortgage-markets/2022/11/07/id/1095278/?ns_mail_uid=ed113837-94a1-4b8d-8fab-a7f206fd5031&ns_mail_job=DM397792_11082022&s=acs&dkt_nbr=010102es9ifb

rick1 wrote:Thankx to joe crow 2.0 and his elite financial advisors, homeowners have lost $1.5 trillion dollars in equity:
https://www.newsmax.com/newsfront/homeowners-mortgage-markets/2022/11/07/id/1095278/?ns_mail_uid=ed113837-94a1-4b8d-8fab-a7f206fd5031&ns_mail_job=DM397792_11082022&s=acs&dkt_nbr=010102es9ifb

I wouldn't worry about it.
From your link:

Homeowners are beginning to regret their decision to buy during the COVID-19 pandemic, a period when prices surged 45% rather quickly. Now, those who bought their properties before 2020 have a combined $5 trillion more than before the pandemic hit.

“In the span of just three months, U.S. mortgage holders saw a total of $1.3T in newly acquired equity evaporate,” Black Knight Data & Analytics President Ben Graboske explained.

"newly acquired equity" means that it was a price bubble caused by too low interest rates and panic buying, as people fled the Blue Cities. Now, the interest rates have climbed and and that killed the market, so home price bubble is bursting. Fast.

We may see actual losses, if we can't get energy policy straightened out, and soon. If that doesn't happen, inflation will continue, interest rates will continue to be high, and maybe even climb some more.

David Stockman, America's raising debt, "the Mother of All Bubbles"

https://www.newsmax.com/newsmax-tv/inflation-energy-spending/2022/11/16/id/1096758/?ns_mail_uid=ed113837-94a1-4b8d-8fab-a7f206fd5031&ns_mail_job=DM400830_11172022&s=acs&dkt_nbr=010504tqanx7#

Do any of ya know about all of these companies that you thought were 100% American?

Companies that you thought were American and now are actually not:

https://za.investing.com/magazine/the-american-companies-that-arent-actually-american-anymore/article/158673