Economy Thread

[Ann]

46 minutes ago, Jackson said:

 

 

 

Manchin urges Biden to reinstate Keystone XL pipeline: 'Hard-working Americans should not depend on foreign actors'
 

</snip>
 

"I continue to call on President Biden to responsibly increase energy production here at home and to reverse course to allow the Keystone XL pipeline to be built which would have provided our country with up to 900,000 barrels of oil per day from Canada, one of our closest allies," Manchin said. "To be clear, this is about American energy independence and the fact that hard-working Americans should not depend on foreign actors, like OPEC+, for our energy security and instead focus on the real challenges facing our country's future."
 

</snip>

 

[Foxx]

Sure, we've got a backlog of ships that can't offload but we can sure as hell load these ships...

https://twitter.com/HansMahncke/status/1462910622899838977

 

[devnull]

The Biden economy is based on inflation.  Starting at 3AM on November 4th 2020

[Crap Throwing Clavin]

16 minutes ago, Foxx said:

Sure, we've got a backlog of ships that can't offload but we can sure as hell load these ships...

https://twitter.com/HansMahncke/status/1462910622899838977

 

 

I'm guessing that loading a supertanker and off-loading a container ship use completely different infrastructures.

[MothersMilk]

Yow... the Dow is down over 900 points on a short trading day today.

 

https://www.baynews9.com/fl/tampa/business/2021/11/26/stocks-sink-on-new-covid-variant--dow-jones-loses-900-points

[Ann]

Things are even worse than you thought...
 

 

[Billsandhorns]

I think most logical people could see this coming. you can't do the things that they have and it not have negative effects. Flooding the system with huge amounts of money. Crippling our own energy production. and on and on 

[Crap Throwing Clavin]

42 minutes ago, Billsandhorns said:

I think most logical people could see this coming. you can't do the things that they have and it not have negative effects. Flooding the system with huge amounts of money. Crippling our own energy production. and on and on 

 

Most logical people.  But we're not economists.

[Billsandhorns]

8 minutes ago, Crap Throwing Monkey said:

 

Most logical people.  But we're not economists.

Are you saying that economists do not understand their profession on are not logical or both?

[Crap Throwing Clavin]

53 minutes ago, Billsandhorns said:

Are you saying that economists do not understand their profession on are not logical or both?

 

An old joke: "Ask five economists a question and you'll get five different answers.  Six if one of them went to Harvard."

 

And not a joke: “Economics is the only field in which two people can share a Nobel Prize for saying opposing things.”  Myrdal and Hayek, 1974.

[Foxx]

https://twitter.com/ZekeJMiller/status/1471193638470402054

 

[Foxx]

https://twitter.com/JesseRodriguez/status/1471177030989451267

 

[Koko]

4 hours ago, Foxx said:

https://twitter.com/JesseRodriguez/status/1471177030989451267

 

 

Wow, the best plan they have for 2022 is to pretend that the GOP scuttled their voter fraud bill?

[Ann]

https://twitter.com/CortesSteve/status/1479448002074918912  

 

[Foxx]

https://twitter.com/Peoples_Pundit/status/1479469351128514562

 

[Ann]

US Inflation Soared 7% in Past Year, the Most Since 1982
 

Prices paid by U.S. consumer jumped 7% in December from a year earlier, the highest inflation rate since 1982 and the latest evidence that rising costs for food, gas, rent and other necessities are heightening the financial pressures on America’s households.
 

</snip>

[Koko]

1 hour ago, Ann said:

US Inflation Soared 7% in Past Year, the Most Since 1982
 

Prices paid by U.S. consumer jumped 7% in December from a year earlier, the highest inflation rate since 1982 and the latest evidence that rising costs for food, gas, rent and other necessities are heightening the financial pressures on America’s households.
 

</snip>

 

Let's go Brandon!

[Ann]

No matter how they tried to dress it up (gas prices fell in December! They don't mention how much they rose the prior 10 months), this was bad:
 

Retail sales dropped 1.9% in December as higher price

• Retail sales declined 1.9% in December, much worse than the forecast for a 0.1% drop.
• Weak online sales were responsible for much of the slide along with a fall in spending at bars and restaurants.
• Import prices declined on the month, the first decrease since August.

Retail sales fell much more than expected in December as surging prices took a big bite out of spending, the Commerce Department reported Friday.
 

The advance monthly sales report to close out the year showed a decline of 1.9%, considerably worse than the Dow Jones estimate for just a 0.1% drop.
 

Excluding autos, sales fell 2.3%, a number that also fell well short of expectations for a 0.3% rise.
 

In addition to the weak December numbers, the November gain was revised down to 0.2% from the initially reported 0.3% increase.
 

</snip>

 

[Foxx]

Dimon says to expect 6 or 7 rate increases this year 🥴

[Ann]

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