Re: Financial Crisis-2022

by rick1 Wed Jun 01, 2022 9:30 am

joe crow 2.0, the head clown in D.C., stated he would not interfere with the federal reserve, but yet met with them behind closed doors, what was said, what will happen, nobody knows. White House staffers (all african americans, about 21 of them) are leaving silently, it is now only being reported.

joe crow 2.0 is one of the most racist people in office, a high ranking member of the KKK, (Senator Byrd) was his best friend:

https://www.thedailybeast.com/black-staffers-leaving-white-house-in-blaxit-politico-reports

Here's Larry Kudlow's look at the upcoming recession:

https://www.foxbusiness.com/media/kudlow-biden-knows-economy-moving-toward-recession

by rick1 Thu Jun 02, 2022 9:08 am

Jamie Dimon warns of an economic hurricane coming, "brace yourself":

https://www.foxbusiness.com/economy/jamie-dimon-warns-economic-hurricane-fed-races-cool-inflation

by TRex2 Thu Jun 02, 2022 3:49 pm

rick1 wrote:Jamie Dimon warns of an economic hurricane coming, "brace yourself":
https://www.foxbusiness.com/economy/jamie-dimon-warns-economic-hurricane-fed-races-cool-inflation

People have now been warned.
Anyone, unless they were impoverished before, that get caught flat footed, will have themselves to blame.

by rick1 Mon Jun 06, 2022 11:10 am

Gas here just hit $5.00/gallon, people are in an uproar here, I just smile and put the gas in the tank.

The majority of people around here that are in an uproar are or maybe I should say were joe crow 2.0 supporters, but no more.

This article says there has been 10 trillion dollars in wealth lost so far from the head clowns decisions on economics:

https://www.newsmax.com/finance/georgementz/wealth-retirement-savings-inflation-deficit/2022/06/06/id/1073053/?ns_mail_uid=ed113837-94a1-4b8d-8fab-a7f206fd5031&ns_mail_job=DM341099_06062022&s=acs&dkt_nbr=010502i7lszm

by Dave58 Mon Jun 06, 2022 4:29 pm

rick1 wrote:Gas here just hit $5.00/gallon, people are in an uproar here, I just smile and put the gas in the tank.

The majority of people around here that are in an uproar are or maybe I should say were joe crow 2.0 supporters, but no more.

This article says there has been 10 trillion dollars in wealth lost so far from the head clowns decisions on economics:

https://www.newsmax.com/finance/georgementz/wealth-retirement-savings-inflation-deficit/2022/06/06/id/1073053/?ns_mail_uid=ed113837-94a1-4b8d-8fab-a7f206fd5031&ns_mail_job=DM341099_06062022&s=acs&dkt_nbr=010502i7lszm

Gas 30 miles from here is $5.50 Diesel is $6.99.. I have 10 gal of last years gas to trade out then everything is fresh and filled I run the old gas in the mowers and tillers and it does fine.... When the trucks quit running food to the grocery stores people will loose their minds

by dmwalsh568 Tue Jun 07, 2022 8:30 am

Filled up yesterday morning at $4.93/gal. When I drove by in the afternoon it was at $4.97. Official average for MA as of this morning is $5.00/gal

Unfortunately there is no end in sight given the still strong demand for gasoline and the oil markets losing Russian oil due to continued war in Ukraine and western energy sanctions. While there is some talk of more production from OPEC, I doubt it will do much to impact oil prices. So I just grin and bear it, happy that my 10 yo hybrid Camry is still averaging over 38mpg....and I work less than 6 miles from home.

by rick1 Tue Jun 07, 2022 9:44 am

dmwalsh568 wrote:Filled up yesterday morning at $4.93/gal. When I drove by in the afternoon it was at $4.97. Official average for MA as of this morning is $5.00/gal

Unfortunately there is no end in sight given the still strong demand for gasoline and the oil markets losing Russian oil due to continued war in Ukraine and western energy sanctions. While there is some talk of more production from OPEC, I doubt it will do much to impact oil prices. So I just grin and bear it, happy that my 10 yo hybrid Camry is still averaging over 38mpg....and I work less than 6 miles from home.

https://nypost.com/2022/03/18/president-biden-is-at-fault-for-high-gas-prices-not-putin/

by rick1 Tue Jun 07, 2022 1:54 pm

Natural gas future prices soar as supply cuts hit.

Heating oil in my area is now $5.149/gallon, people aren't going to afford that.

Man oh man, old joe crow 2.0 is really putting all of us through the ringer, just look at the future natural gas chart for the winter of 2022/2023, people are going to freeze. And it has already gone up 150% since he got into office.

https://www.naturalgasintel.com/natural-gas-futures-soar-as-supply-cuts-hit-as-heat-builds-10-gas-possible-in-fairly-near-future/

by TRex2 Tue Jun 07, 2022 4:35 pm

rick1 wrote:Natural gas future prices soar as supply cuts hit.

Heating oil in my area is now $5.149/gallon, people aren't going to afford that.

Man oh man, old joe crow 2.0 is really putting all of us through the ringer, just look at the future natural gas chart for the winter of 2022/2023, people are going to freeze. And it has already gone up 150% since he got into office.

https://www.naturalgasintel.com/natural-gas-futures-soar-as-supply-cuts-hit-as-heat-builds-10-gas-possible-in-fairly-near-future/

I don't quite see how the numbers in that article work, but natgas went from $2.50 before Biden, to $4 before the war, to $8+ now. That is more than triple, in my book. (And let us not forget, Biden could have prevented all of this, including the war.)

by rick1 Wed Jun 08, 2022 10:20 am

Is joe crow 2.0 putting your 401K at risk over his climate change agenda:

https://www.foxbusiness.com/politics/biden-admin-rule-risks-americans-retirement-accounts-gop-leaders-across-the-nation-warn

Treasury Secretary warns inflation will be uncomfortably high over the next year. She blames everything/everybody else except for the trillions of dollars that this administration has spent on bs:

https://www.washingtontimes.com/news/2022/mar/11/treasury-secretary-janet-yellen-warns-very-uncomfo/?utm_source=GOOGLE&utm_medium=cpc&utm_id=chacka&utm_campaign=TWT+-+DSA&gclid=EAIaIQobChMIuc2qqIWe-AIVl_3jBx2Djw1lEAMYASAAEgJjePD_BwE

by rick1 Thu Jun 09, 2022 2:04 pm

Stock up boy and girls, there are some ruff seas ahead, maybe a tsunami on the horizon.

I realize it's only June, but, you'd better think on how you plan on heating your home, stock up now on what you use, 'cause it's predicted to get MUCH worse.

Are we heading towards a recession, Fed GDP tracker says YES

https://www.foxbusiness.com/economy/is-us-economy-on-brink-recession-fed-gdp-tracker-says-yes

by rick1 Fri Jun 10, 2022 8:47 am

Inflation rate for May 2022, 8.6%, highest in 41 years, thankyou joe crow 2.0:

https://www.businessinsider.com/inflation-report-cpi-may-gas-prices-federal-reserve-rate-hikes-2022-6

by TRex2 Fri Jun 10, 2022 1:59 pm

All of those trillions of dollars being pumped into the economy are bad enough, but they will actually be overshadowed by what Biden did to our energy sector.

As for blaming Putin, that is a problem that our Administration created. rising energy (especially oil and gas) prices put Putin into a financial position where he could afford war, and our weakness in handling Afghanistan encourage Russian aggression.

His final chance at preventing Putin from invading Ukraine would have been to position huge amounts of anti tank and anti aircraft weapons there, letting Putin know the cost of going into Ukraine would be too high to risk. But the Administration and Deep State didn't want to do that, so here we are.

I think in the next year, inflation will be 70% caused by energy prices.

The Fed is trying to jack up interest rates and take money back out of the economy, but that will lead to recession, so we will then have a recession, with inflation. Just like Jimmy Carter had, in 1979 and 1980.

by rick1 Fri Jun 10, 2022 2:49 pm

Last night Janet Yellen said the economy is doing good and inflation is under control Laugh Animated

Just an hour ago, joe crow 2.0, aka corn pop, said while in LA, that it's Putin's fault and the economy is doing great even with inflation being high.

Where in the heck do these clown

's get their information?

It's no wonder everyone is beginning to hate old corn pop, even a bunch of his own demonrats don't like what he's doing to this country. CryingTears

by rick1 Fri Jun 10, 2022 6:14 pm

The consumer sentiment index hits its lowest point in history.

Things are about to get much, much worse:

https://www.nasdaq.com/articles/u.s.-consumer-sentiment-index-tumbles-to-record-low-in-june

by rick1 Sat Jun 11, 2022 3:11 pm

I was watching CBS news, that's right, I do watch the far left news, but I fact check them. While anyway, they say that 3 in 10 people are skipping meals because of bidenflation. That's 30% plus that are skipping meals 'cause they can't afford the prices, some are skipping meals so their kids can have 3 meals a day.

We're getting like a 3rd world country and all because of 1 person:

https://www.citizensjournal.us/poll-3-in-10-americans-missing-meals-because-of-biden-inflation/

by TRex2 Mon Jun 13, 2022 1:45 pm

rick1 wrote:Last night Janet Yellen said the economy is doing good and inflation is under control
Just an hour ago, joe crow 2.0, aka corn pop, said while in LA, that it's Putin's fault and the economy is doing great even with inflation being high.
Where in the heck do these 's get their information?
It's no wonder everyone is beginning to hate old corn pop, even a bunch of his own demonrats don't like what he's doing to this country.

Have to remember, Biden isn't the one in charge. Just a front man. He really doesn't know what is going on.

rick1 wrote:I was watching CBS news, that's right, I do watch the far left news, but I fact check them. While anyway, they say that 3 in 10 people are skipping meals because of bidenflation. That's 30% plus that are skipping meals 'cause they can't afford the prices, some are skipping meals so their kids can have 3 meals a day.

We're getting like a 3rd world country and all because of 1 person:

https://www.citizensjournal.us/poll-3-in-10-americans-missing-meals-because-of-biden-inflation/

What really bothers me, is the 1/3 of the country thinks everything is great, and Biden is doing a good job.

Actually, that scares me.

by rick1 Mon Jun 13, 2022 2:55 pm

joe crow 2.0, a.k.a. corn pop is getting hot and bothered over inflation, in which he caused. Just can't wonder why he would be upset, Hunter buys all his stuff for him:

https://www.newsmax.com/newsfront/joe-biden-anger-frustration-inflation/2022/06/13/id/1074176/?ns_mail_uid=ed113837-94a1-4b8d-8fab-a7f206fd5031&ns_mail_job=DM343505_06132022&s=acs&dkt_nbr=010104y70wzn

by rick1 Tue Jun 14, 2022 8:54 am

Wholesale prices rose 10.8% another record for joe crow 2.0. Save your pennies boys and girls, 'cause you're going to need them.

Think about the future, winter heat, only 5 months away.

https://www.cnbc.com/2022/06/14/wholesale-prices-rose-10point8percent-in-may-near-a-record-annual-pace.html

by rick1 Wed Jun 15, 2022 10:18 am

Even hedge funds are running scared, they're losing their butts:

https://www.newsmax.com/finance/streettalk/hedge-funds-investment-managers-wall-street-sentiment-cash/2022/06/15/id/1074505/?ns_mail_uid=ed113837-94a1-4b8d-8fab-a7f206fd5031&ns_mail_job=DM344727_06152022&s=acs&dkt_nbr=010502y20awr

by TRex2 Wed Jun 15, 2022 2:07 pm

I guess the numbers aren't out yet, but the Fed is considering a 75 point interest rate increase, today, possibly followed by another one, next month.

The economy is very near the stall point (think of an airplane, with too much nose up and not enough power), and those two rate increases may do it.

That is, they may put us into a deep and lasting recession. And just like in 1978-1982, it will come with inflation and high unemployment.

And there is, no longer, any easy fix. Even if everyone does the "right thing," starting today.

TRex2 wrote:Once the house is on fire, blowing out the match doesn't fix the problem.

by rick1 Wed Jun 15, 2022 2:36 pm

Just in TRex, they raised it .75% and going to raise it every month anywhere from .50% to 1%. If ya got credit card bills and can afford to pay them off, do so, along with any other bills that the interest is going to go up on.

Robert Nardelli, former CEO of Chrysler, Home Depot, etc.. was on FOX news today. He said for people to stock up on none perishables to last at least 2 years, 'cause they will skyrocket in price and if can still get them.

Things are going to get real rough, I mean real rough. Always, always, think ahead or you'll fall behind and that just makes things worse.

Example: I heat with wood and coal, I have enough wood cut, split and stacked, enough for at least 4 or 5 years. Coal has gone up $60.00 a ton since April. But down where I have my camp, they haven't raised their prices, so I take my trailer with me when I go down every week and bring back a load. I'll continue to do that until they raise their prices or I have enough for 2 years.

by TRex2 Wed Jun 15, 2022 5:02 pm

rick1 wrote:Just in TRex, they raised it .75% and going to raise it every month anywhere from .50% to 1%. If ya got credit card bills and can afford to pay them off, do so, along with any other bills that the interest is going to go up on.

I am in the sweet spot. No money, no debts, no worries Laughing

Robert Nardelli, former CEO of Chrysler, Home Depot, etc.. was on FOX news today. He said for people to stock up on none perishables to last at least 2 years, 'cause they will skyrocket in price and if can still get them.

I am in general agreement with him, except I don't set any particular time criteria for how much people should stock up. Just do what you can.

Things are going to get real rough, I mean real rough. Always, always, think ahead or you'll fall behind and that just makes things worse.

Yep. I tell people that life is like climbing up, a down escalator, with alligators at the bottom.
Been saying that for 39 years.
Nowadays, the escalator seems to be running a little faster.

by rick1 Thu Jun 16, 2022 2:52 pm

Fed's aggressive rate hikes raise the likely hood of a recession:

https://www.newsmax.com/finance/streettalk/federal-reserve-inflation-recession-jerome-powell/2022/06/16/id/1074687/?ns_mail_uid=ed113837-94a1-4b8d-8fab-a7f206fd5031&ns_mail_job=DM345506_06162022&s=acs&dkt_nbr=0101026owmcv

Housing market slowing down since the rate hikes began, another sign of a coming recession:

https://www.newsmax.com/finance/streettalk/homebuilding-residential-real-estate-market-mortgages-interest-rates/2022/06/16/id/1074723/?ns_mail_uid=ed113837-94a1-4b8d-8fab-a7f206fd5031&ns_mail_job=DM344705_06162022&s=acs&dkt_nbr=010102t2nod2

by TRex2 Thu Jun 16, 2022 2:56 pm

rick1 wrote:Fed's aggressive rate hikes raise the likely hood of a recession:

https://www.newsmax.com/finance/streettalk/federal-reserve-inflation-recession-jerome-powell/2022/06/16/id/1074687/?ns_mail_uid=ed113837-94a1-4b8d-8fab-a7f206fd5031&ns_mail_job=DM345506_06162022&s=acs&dkt_nbr=0101026owmcv

Housing market slowing down since the rate hikes began, another sign of a coming recession:

https://www.newsmax.com/finance/streettalk/homebuilding-residential-real-estate-market-mortgages-interest-rates/2022/06/16/id/1074723/?ns_mail_uid=ed113837-94a1-4b8d-8fab-a7f206fd5031&ns_mail_job=DM344705_06162022&s=acs&dkt_nbr=010102t2nod2

I know at least one person this will be good for. His salary isn't likely to change, and he is trying to buy a house. Once the economy stalls, interest rates will plummet, and he will be able to make it work. Silver lining in a hurricane.

by rick1 Fri Jun 17, 2022 9:13 pm

This article is from February on high heating costs, so you know it's going to get worse. I checked on line for home heating oil in my area and it is now $5.59/gallon, thanks to crow bait joe. Seems that propane is holding at a decent price.

People will be hurting this winter, and crow bait joe and his followers could care less about the American citizen.

The only good thing that comes from this is, the morons that voted for him will be suffering too:

https://money.com/high-heating-bills-2022/

by TRex2 Sat Jun 18, 2022 2:23 pm

rick1 wrote:This article is from February on high heating costs, so you know it's going to get worse. I checked on line for home heating oil in my area and it is now $5.59/gallon, thanks to crow bait joe. Seems that propane is holding at a decent price.
People will be hurting this winter, and crow bait joe and his followers could care less about the American citizen.
The only good thing that comes from this is, the morons that voted for him will be suffering too:
https://money.com/high-heating-bills-2022/

The cost, per KWH on my electric bill is 40% higher than a year ago.
Not a surprise to me, so I am not suffering too much.
Others got surprised, and they are hurting.

Seems like some of us were telling people this would happen, and we told them about a year ago.
Heating Fuel Oil, BTW, competes with Diesel, in the cracking (refinery) process.
If one goes up, both go up.

by rick1 Mon Jun 20, 2022 8:57 am

Former Obama treasury secretary, Larry Summers, says recession on its way:

https://www.newsmax.com/newsfront/biden-treasury-economy-inflation/2022/06/19/id/1075101/?ns_mail_uid=ed113837-94a1-4b8d-8fab-a7f206fd5031&ns_mail_job=DM345061_06202022&s=acs&dkt_nbr=010502czpgex

by TRex2 Mon Jun 20, 2022 3:45 pm

rick1 wrote:Former Obama treasury secretary, Larry Summers, says recession on its way:

https://www.newsmax.com/newsfront/biden-treasury-economy-inflation/2022/06/19/id/1075101/?ns_mail_uid=ed113837-94a1-4b8d-8fab-a7f206fd5031&ns_mail_job=DM345061_06202022&s=acs&dkt_nbr=010502czpgex

While there is still time to head off a full blown recession (though not a technical recession, since we will have that in less than 6 weeks), it is extremely unlikely the current administration would even entertain measures necessary to avert the oncoming recession.

In another month, a recession will become a mathematical certainty. The economy will crash, over the next quarter or two, interest rates might plummet. Inflation will still be rampant, but we will also be in a recession, until the Biden administration is removed from D.C.

This was all predictable, the day after Biden was installed.
I began to write about it thee months later.

by rick1 Tue Jun 21, 2022 3:55 pm

Doesn't seem that oil, gas or natural gas will be coming down in price anytime soon. They'll just be going higher and higher and so will everything else:

https://www.foxbusiness.com/politics/joe-biden-oil-gas-lease-sales-delay-energy-environmental-protest

by TRex2 Wed Jun 22, 2022 3:02 pm

rick1 wrote:Doesn't seem that oil, gas or natural gas will be coming down in price anytime soon. They'll just be going higher and higher and so will everything else:

https://www.foxbusiness.com/politics/joe-biden-oil-gas-lease-sales-delay-energy-environmental-protest

The prices will continue to climb, and the country will continue to go down hill, until we find some way to oust both the administration that got installed 17 months ago, and the Deep State that works with the DNC to promote communist and Islamist interests.

Even if we get rid of Biden and Harris, that won't be sufficient. Remember, once the house is on fire, putting out the match won't stop the fire.

by Dave58 Wed Jun 22, 2022 3:25 pm

TRex2 wrote:
rick1 wrote:Doesn't seem that oil, gas or natural gas will be coming down in price anytime soon. They'll just be going higher and higher and so will everything else:

https://www.foxbusiness.com/politics/joe-biden-oil-gas-lease-sales-delay-energy-environmental-protest
The prices will continue to climb, and the country will continue to go down hill, until we find some way to oust both the administration that got installed 17 months ago, and the Deep State that works with the DNC to promote communist and Islamist interests.

Even if we get rid of Biden and Harris, that won't be sufficient. Remember, once the house is on fire, putting out the match won't stop the fire.

You hammered that nail.......

by rick1 Sat Jun 25, 2022 4:19 pm

The super inflation and the cost of energy has started to hit businesses pretty hard. I think this is the beginning of companies shutting down and laying off their workers.

The largest U.S. smelter and the largest producer of high purity primary aluminum plant is shutting down, laying off over 600 employees.

You can bet your sweet bippy that anything in or on aluminum will be going up in price, beer, soda, canned goods, etc.:

https://www.foxnews.com/us/kentucky-aluminum-plant-cuts-production-lays-off-600-workers-high-energy-costs?dicbo=v2-557ac37e05e1901a31020168147650f9

by rick1 Tue Jun 28, 2022 8:21 am

Business leaders optimism at a record low for mid size business's according to JP Morgan Chase.

Thanks to crow bait joe, YA AIN'T SEEN NOTHING YET:

https://www.foxbusiness.com/economy/business-leader-optimism-hits-record-low-soaring-inflation-labor-shortages

by Blondie Tue Jun 28, 2022 10:52 pm

Layoffs are the new corporate profitability. Your company can't make ends meet? Lay off a bunch of people at the end of your FY. Instant profitability.

by TRex2 Wed Jun 29, 2022 5:47 am

Blondie wrote:Layoffs are the new corporate profitability. Your company can't make ends meet? Lay off a bunch of people at the end of your FY. Instant profitability.

That isn't really new. More like "resurrected."

I recall the same thing from the late 70's.

I remember hearing the news talking about "indefinite" layoffs.
They would comment that "indefinite" probably meant "permanent."

by rick1 Wed Jun 29, 2022 10:44 am

TRex2 wrote:
Blondie wrote:Layoffs are the new corporate profitability. Your company can't make ends meet? Lay off a bunch of people at the end of your FY. Instant profitability.
That isn't really new. More like "resurrected."

I recall the same thing from the late 70's.

I remember hearing the news talking about "indefinite" layoffs.
They would comment that "indefinite" probably meant "permanent."

I remember back in the late 70's, my dad said I better find a different job (coal miner), as he said the auto workers, steel workers, coal miners and rail road workers are pricing themselves right out of a job.

By the mid 1980's, there are no more deep coal mines in my area, the rail road workers are half of what they are in Altoona PA, Bethlehem steel shut their big plant down in Johnstown PA and Pittsburgh PA and just look at the hacking they did to the auto workers.

That amounts to 10's of thousands of jobs, just in PA and those jobs are gone, gone forever.

Now, just my opinion, you're looking at the same thing now. The auto industry has already laid people off, the steel mills in Ill. have already laid off, the railroad in Altoona PA has laid off (again) and there's a coal power plant in Indiana PA that is closing the 1st of the year.

Thank You joe crow 2.0.

by TRex2 Wed Jun 29, 2022 3:32 pm

rick1 wrote:I remember back in the late 70's, my dad said I better find a different job (coal miner), as he said the auto workers, steel workers, coal miners and rail road workers are pricing themselves right out of a job.

He was, mostly, right. Even in the early 70's, the symptoms were there: a combination of greed, ego and complacency left us open to economic attack. The oil crisis of 73 was the final ingredient.

By the mid 1980's, there are no more deep coal mines in my area, the rail road workers are half of what they are in Altoona PA, Bethlehem steel shut their big plant down in Johnstown PA and Pittsburgh PA and just look at the hacking they did to the auto workers.

Even in the 70's, the environmentalists were causing havoc, and the greed of the power and steel industries, as well as their unions, prevented them from being nimble enough to deal with the real environmental problems of the day (mercury and surfer). The rail roads were nearly killed by the greed of the Unions that were created to fight against greed. By the time the railroads broke their stranglehold, the unions were trying to control every aspect of railroad employment, in such a way that the railroads couldn't reduce the number of employees anywhere, even if they weren't needed. Most of the same, happen in the auto industry.

The unions became the "greed and evil" they were invented to fight.

Then came the Socialists. Funded and guided by Russia and China. Incubated in our universities and fed by our mainstream media (MSM), and PBS. Eventually leading to indoctrination being carried out in all levels of our schools.

That amounts to 10's of thousands of jobs, just in PA and those jobs are gone, gone forever.

And those are real, wealth creating, jobs. Wealth is created by those who extract materials from the earth, and those who make "things" out of those materials. Everything and everyone else in a society (even the necessary jobs) are overhead.

America has forgotten that.
Trump tried to bring that back, and that was one reason he was hated, and lied about, so much.
China still controls the powers that be, the indoctrination of our youth, and the propaganda that pours out of our MSM.

Now, just my opinion, you're looking at the same thing now. The auto industry has already laid people off, the steel mills in Ill. have already laid off, the railroad in Altoona PA has laid off (again) and there's a coal power plant in Indiana PA that is closing the 1st of the year.

Thank You joe crow 2.0.

In the next several years, more coal plants will close. Solar and wind will not replace them. Blackouts and skyrocketing prices will.

I don't know if the steel mill in IL will survive. Caterpillar finally got wise, and has announced they will move to Texas.

Our auto industry is plunging headlong into a trap, laid by the Chinese, that will render them slaves to China. I don't know where it goes from there, but it doesn't look good.

by rick1 Fri Jul 01, 2022 2:32 pm

President crow bait says gas prices will remain high until Ukraine defeats Russia. The director for the national economic council, Brian Deese says the higher energy prices our defending "THE LIBERAL WORLD ORDER."

In short, you think you're paying more now for food, gas, diesel, heating oil, anything and everything that takes fuel to deliver,, you ain't seen nothing yet. Many people will never make it:

https://www.newsmax.com/newsfront/liberal-world-order-biden-white-house-gas-price/2022/07/01/id/1076965/?ns_mail_uid=ed113837-94a1-4b8d-8fab-a7f206fd5031&ns_mail_job=DM350484_07012022&s=acs&dkt_nbr=0101025teon3

by rick1 Tue Jul 05, 2022 3:39 pm

Atlanta Fed says we will officially be in a recession with the projected negative 2.1% GDP for the second quarter. I think that we aren't quit there yet, but will be in another quarter or two, then watch the price of things explode:

https://seekingalpha.com/article/4521771-atlanta-fed-forecasts-official-recession-with-negative-gdp-growth-in-q2

by TRex2 Wed Jul 06, 2022 6:10 am

rick1 wrote:Atlanta Fed says we will officially be in a recession with the projected negative 2.1% GDP for the second quarter. I think that we aren't quit there yet, but will be in another quarter or two, then watch the price of things explode:

https://seekingalpha.com/article/4521771-atlanta-fed-forecasts-official-recession-with-negative-gdp-growth-in-q2

Based on the price of copper (which has dropped 25%, since the beginning of may), I would say we are already there.

Some prices will explode, others, like home prices, are already beginning to collapse. What will happen next will depend on how badly "The Fed" manages the situation. (There is no "right" move, at this point, but some moves are worse than others.)

by rick1 Wed Jul 06, 2022 1:01 pm

You can't make this stuff up.

Crow bait joe has sent millions of barrels of oil, that is from our U.S. national reserves, that is supposed to help the American people, overseas. Sure doesn't help us with inflation.

Our reserves are now the lowest since 2004, better hope this country doesn't have a national emergency and need that oil. I think China is hoping crow bait joe sends it all overseas.

On the news this morning, they showed a poll that shows only 10% of the people believe the country is heading in the right direction, they must be all those hollywood elites.

What else is this clown going to do to us:

https://www.reuters.com/business/energy/oil-us-reserves-head-overseas-gasoline-prices-stay-high-2022-07-05/

by rick1 Thu Jul 07, 2022 10:58 am

Even our foreign adversaries are tweeting and making fun of crow bait joe, over the U.S. economy.

Ya just got to laugh at that clown:

https://www.foxnews.com/opinion/biden-economy-flaming-dumpster-fire

by rick1 Mon Jul 11, 2022 3:40 pm

Couldn't decide whether to put this under financial or electricity or should I say the lack of electricity. If you got electric heat, you're going to pay dearly.

Read it and weep CryingTears

:

https://finance.yahoo.com/news/summer-blackout-fears-fuel-300-130004259.html

by TRex2 Tue Jul 12, 2022 11:09 am

rick1 wrote:Couldn't decide whether to put this under financial or electricity or should I say the lack of electricity. If you got electric heat, you're going to pay dearly.
Read it and weep :
https://finance.yahoo.com/news/summer-blackout-fears-fuel-300-130004259.html

I think I will chuckle. The math is a bit obtuse, but then, the purpose of the article is to mislead you, and sell you some Leftist Propaganda. The first thing to remember is: government breaks things, market forces fix things, we are capitalists, the current regime (including the MSM) is marxist.

Quotes are from your link:

"power plants are poised to reap their best summertime profits"
"prices that are outpacing the high costs of natural gas and coal."

Profits are a good thing: it means the coal and gas power plants won't be shutting down in bankruptcy, which is what the Left wants. The Left is failing to force their Green New Deal.

"profitability of coal plants has nearly quadrupled from a year ago to $43 per megawatt-hour,"

OK, here is the math: that $43 per megawatt hour is 4.3 cents per kilowatt hour, which is how you and I pay for it. Since they say it nearly quadrupled, that means we used to pay about 1.1 cents. On a $100 electric bill, you might see a rise of $8 to $16, since power plants only get about 10% to 25% of what you pay.

That isn't to say there is no reason at all, for concern, just that they are putting it out of proportion.

"the wide margins suggest trouble for the country’s strained grids."

This is true, but it is self correcting. Higher prices will reduce demand, the same way higher gas prices have reduced demand for oil. It isn't fun, but it works.

"And with most of its wind power sidelined amid extremely low wind speeds, Texas’s grid operator asked consumers to curtail their electricity usage to avoid blackouts."

Texas goes through this every time they have an extra hot summer, plus, Texas is still recovering from miss management of its grid, at the hands of the Leftists that ran it until after the ice storm of 2021 (after which they were fired). I don't know how good the new people at ERCOT are, but their web site is better than the old one. It looks promising.

All and all, this is a win win for me, since the only way I see to wake people up to the danger of the Green New Deal is to have a mass casualty heat or cold related event, but OTOH, I will be happy to NOT see one of those.

by rick1 Wed Jul 13, 2022 9:10 am

Consumer price index out today, rose to 9.1%, higher then expected:

https://www.usatoday.com/story/money/2022/07/13/inflation-rate-new-40-year-high-june-cpi/10040997002/

Maria Bartiromo said on FOX Business, only going to get worse, you haven't seen anything yet. Job cuts will be coming, rates hikes will skyrocket, the economy is in dire straights with no end in sight and this administration says all is well because unemployment is low.

by rick1 Thu Jul 14, 2022 12:27 pm

Wholesale inflation up a wopping 11.3%:

https://www.newsmax.com/finance/streettalk/producer-price-index-ppi-wholesale-prices/2022/07/14/id/1078735/?ns_mail_uid=ed113837-94a1-4b8d-8fab-a7f206fd5031&ns_mail_job=DM355086_07142022&s=acs&dkt_nbr=010102bur0jy

Another sign of the coming recession, car repos exploding:

https://www.barrons.com/articles/recession-cars-bank-repos-51657316562

by rick1 Mon Jul 18, 2022 9:18 am

We've been talking about a possible recession for awhile now, how about a depression instead.

Hope not, but if Putin does this, oil may hit over $380.00 a barrel. That means you won't be able to heat your house in winter, no matter what kind of heat you have, unless it's wood and you can get it for free.

Let alone the price of normal daily items you need, food, gas, toilet paper, etc..

We're living in really weird times, I guess this is corn pop's new world order, as southerners would say, "bless his heart":

https://freedomfirstnetwork.com/2022/07/jp-morgan-oil-price-could-more-than-triple-if-russia-decides-to-cut-output

by Dave58 Mon Jul 18, 2022 11:11 am

One of my favorite sayings when I lived in Alabama "Bless Em Lord" which was code for what a Dum* a** lol

by rick1 Tue Jul 19, 2022 12:30 pm

Well, rumors from the white house indicate, possibly tomorrow, that old crow bait joe is going to declare a national climate emergency. This is going to make the inflation/recession and national debt even worse then it already is.

Not only that, you'd have better stocked up on whatever fuel you use to heat your home, 'cause it's going to cost you both arms and one leg to buy it later. And don't forget the price of everyday items you use in your household, 'cause you probably will not be able to get them or the prices will be outrages.

The head clown

wants destroy this country and everybody in it:

https://www.bloomberg.com/news/articles/2022-07-19/white-house-mulls-emergency-declaration-to-fight-climate-change

by Dave58 Tue Jul 19, 2022 3:48 pm

Heres one for you.....

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

by rick1 Tue Jul 19, 2022 3:58 pm

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 Laughing

by rick1 Wed Jul 27, 2022 2:33 pm

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 :BadDog:

and crow bait joe and his cronies say we're not heading towards a recession, what a bunch of clown

's

by rick1 Thu Jul 28, 2022 9:54 am

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. Laugh Animated

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

by TRex2 Thu Jul 28, 2022 11:54 am

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.

by rick1 Thu Aug 04, 2022 3:46 pm

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/

by Dave58 Thu Aug 04, 2022 5:01 pm

This is no surprise

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

by rick1 Fri Aug 05, 2022 9:24 am

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.

by rick1 Sun Aug 07, 2022 3:50 pm

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

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