Oil Crisis, Orlando 5.89 per gal, Iran Crisis = Obama is TOAST

[John Doe]

I didn't see Obama saying there is no inflation. Do you have a quote?

No, because I never said he said there is no inflation. I said "As opposed to the Obama administration's measure of inflation which resulted in zero until they began to realize that not everyone outside the White House is a moron?" I have told you what the administration has said about inflation and how they have said it. I have not only given you the dots. I've connected them for you, but you still don't get it.

Where did you learn economics? From the back of a cereal box?

Yes seriously. COLA is not frozen for eternity.

Oh, good. I feel so much better now about the making-ends-meet thing that people have been having more trouble with lately. Obviously COLA won't be frozen for eternity because currency will not last for eternity.

 

[SgtSpiderMan]

Excuse me I was .10 cents off.

Suncoast Energys
5928 Butler National Dr & S Semoran Blvd - 5.79 per gal

Sun Gas
5600 Butler National Dr & S Semoran Blvd - 5.69 per gal

Mobil
12748 S Apopka Vineland Rd near I-4 exit 68 - 4.69 per gal

Petrol rose 10 to 15 cents in the last 24 hours expected to rise more than $1 over the next two weeks.

$4.30 to $4.80 will soon be the national average.

I rarely say this, but you're an idiot.

The 1st 2 gas stations you mentioned are literally right outside the airport. Their scheme is to get people who are in a rush returning their rental car and are trying to catch a plane. Up until a few weeks/months ago they didn't even list their prices.

The other is literally right outside of an entrance to Disney.

The avg price of gas in Orlando is $3.56

 

[John Doe]

I rarely say this, but you're an idiot.

The 1st 2 gas stations you mentioned are literally right outside the airport. Their scheme is to get people who are in a rush returning their rental car and are trying to catch a plane. Up until a few weeks/months ago they didn't even list their prices.

The other is literally right outside of an entrance to Disney.

The avg price of gas in Orlando is $3.56

*points and laughs at you*

 

[garbage can]

Seriously?

Yes seriously. COLA is not frozen for eternity.

Seriously??

 

[mercury14]

No, becauseI never said he said there is no inflation. I said"As opposed to the Obama administration's measure of inflation which resulted in zero until they began to realize that not everyone outside the White House is a moron?"I have told you what the administration has said about inflation and how they have said it. I have not only given you the dots. I've connected them for you, but you still don't get it.

Show me the Administration's numbers that resulted in the appearance of 0% inflation. All I hear is you talking... No offense but I don't take porn board people's word as fact.

Oh, good. I feel so much better now about the making-ends-meet thing that people have been having more trouble with lately. Obviously COLA won't be frozen for eternity because currency will not last for eternity.

I assumed you were talking about military COLA. Are you talking about social security? Or something else?

Social security COLA didn't go up for what, a year or two? Inflation was low and every senior on social security got a $250 check from the stimulus - far more than they would from a tiny COLA increase.

Who cares?

 

[phrodeau]

I tanked up today for $3.449 a gallon. Higher than I like, but still lower than it was during Bush's admin.

 

[John Doe]

Show me the Administration's numbers that resulted in the appearance of 0% inflation. All I hear is you talking... No offense but I don't take porn board people's word as fact.

But I should take the BLS at their word even though every economist I've ever heard talk about CPIs is that by themselves they tell you precisely jackshit? No deal.

I assumed you were talking about military COLA. Are you talking about social security? Or something else?

Social security COLA didn't go up for what, a year? Because inflation was low? Who cares?

Yes, I was talking about the military one.

So fuck our troops and fuck the elderly and fuck the disabled? I'm really gleaning that intent from your last question, so please correct me if it was a sincere question.

If the latter is the case the answer is: the military, the elderly and the disabled. And I would hope a few extra people. Y'know, just for shits and giggl...oh, hey! I've got an idea. How about we care because of a little thing called compassion? Have you heard of that? It's crazy-cool!

 

[JackLuis]

http://www.rawstory.com/rs/wp-content/uploads/2012/02/Obama-via-AFP2.jpg

Obama goes on offensive as gasoline prices soar

Wonder if he's going to bomb BP next? It worked for Libya.

 

[RobDownSouth]

I'm amused at how John Dope thinks really big words adds gravitas to his argument.

 

[John Doe]

I'm amused at how John Dope thinks really big words adds gravitas to his argument.

If by gravitas you mean condescension, then you're right.

 

[mercury14]

But I should take the BLS at their word even though every economist I've ever heard talk about CPIs is that by themselves they tell you precisely jackshit? No deal.

If you want to call the official CPI bogus then make a well thought-out case as to why, and then discuss why an alternate indicator is better.

I'm not saying that it's perfect. Stop accusing me of telling you to take the BLS as gospel truth when I said nothing of the sort. This is Vette-league crap you're pulling.

And giant letters make your argument look incoherent and emotional.

Yes, I was talking about the military one.

So fuck our troops and fuck the elderly and fuck the disabled? I'm really gleaning that intent from your last question, so please correct me if it was a sincere question.

If the latter is the case the answer is: the military, the elderly and the disabled. And I would hope a few extra people. Y'know, just for shits and giggl...oh, hey! I've got an idea. How about we care because of a little thing called compassion? Have you heard of that? It's crazy-cool!

The elderly and the disabled had to forgo a tiny COLA increase in exchange for a lump sum $250 check. And this year the adjustment was 3.6% (also for military retirees) which started two months ago.

I have no idea why you're concerned, much less calling these people fucked.

 

[John Doe]

Apparently big words are scary.

If you want to call the official CPI bogus then make a well thought-out case as to why, and then discuss why an alternate indicator is better.

Why would I want to make myself look like someone who knows even less than you do about economics? You want me to select a single economic indicator as better than a CPI? Are you drunk or do you really think that's a good idea? Maybe you think you're setting a well-hidden trap but that's bizarre, considering the facts.

I'm not saying that it's perfect. Stop accusing me of telling you to take the BLS as gospel truth when I said nothing of the sort. This is Vette-league crap you're pulling.

I'm not saying it's flawed. I'm saying it's practically meaningless by itself.

"...at their word" is not the same thing as "gospel truth". Not even close. The second sentence in the paragraph immediately above is one of the most ironic statements I've ever seen on Lit (which is saying a lot) because you're telling me to stop putting words in your mouth as you put words in my mouth. The third sentence is even more ironic than that. The whole paragraph is basically just a folded space with at least six dimensions of irony.

And giant letters make your argument look incoherent and emotional.

Ignoring the point of a sentence no matter how small or large the letters are to make your political opponents look bad makes you look like a tool.

The elderly and the disabled had to forgo a tiny COLA increase in exchange for a lump sum $250 check. And this year the adjustment was 3.6% (also for military retirees) which started two months ago.

I have no idea why you're concerned, much less calling these people fucked.

So who cares what military people think then (apparently you're having trouble today with the "F-bomb")? Really? Okay, that not as bad...except this thing I remember again (and by that I mean you have already forgotten) I was talking about the military COLA in the first place.

By the way, I didn't say anyone was fucked. I was basically asking you if you were saying we shouldn't care what those people think or if you literally wanted to know who cares.


Long story short, you should've figured out purchasing power at least five hours ago.

 

[mercury14]

No, because I never said he said there is no inflation. I said "As opposed to the Obama administration's measure of inflation which resulted in zero until they began to realize that not everyone outside the White House is a moron?" I have told you what the administration has said about inflation and how they have said it. I have not only given you the dots. I've connected them for you, but you still don't get it.

Where did you learn economics? From the back of a cereal box?

Oh so by "The Obama Administration's measure of inflation", you mean the BLS' CPI-W... Which by law determines COLA by law as per congressional legislation dating back forty years.... And the president has no control over.

Now that's Obama's fault and somehow it's the administrations own personal numbers? Are you a Miles alt or a Vette alt?

3Q CPI-W by year:
2008: 215.49
2009: 211.00
2010: 214.13
2011: 223.23 (which restarted positive COLA increases)

http://www.ssa.gov/OACT/STATS/avgcpi.html

 

[mercury14]

Apparently big words are scary.
Why would I want to make myself look like someone who knows even less than you do about economics? You want me to select a single economic indicator as better than a CPI? Are you drunk or do you really think that's a good idea? Maybe you think you're setting a well-hidden trap but that's bizarre, considering the facts.

I'm not saying it's flawed. I'm saying it's practically meaningless by itself.

"...at their word" is not the same thing as "gospel truth". Not even close. The second sentence in the paragraph immediately above is one of the most ironic statements I've ever seen on Lit (which is saying a lot) because you're telling me to stop putting words in your mouth as you put words in my mouth. The third sentence is even more ironic than that. The whole paragraph is basically just a folded space with at least six dimensions of irony.

Ignoring the point of a sentence no matter how small or large the letters are to make your political opponents look bad makes you look like a tool.

So who cares what military people think then (apparently you're having trouble today with the "F-bomb")? Really? Okay, that not as bad...except this thing I remember again (and by that I mean you have already forgotten) I was talking about the military COLA in the first place.

By the way, I didn't say anyone was fucked. I was basically asking you if you were saying we shouldn't care what those people think or if you literally wanted to know who cares.

Long story short, you should've figured out purchasing power at least five hours ago.

None of this ignorant bullshit blame game means anything. COLA is attached to the CPI-W by law that the president cannot touch. You have no idea what you're talking about and you sound like a dumbass.

Nothing like being an arrogant prick on a subject when you have a total misconception of it.

 

[mercury14]

By the way, I didn't say anyone was fucked. I was basically asking you if you were saying we shouldn't care what those people think or if you literally wanted to know who cares.

Yes you did.

So fuck our troops and fuck the elderly and fuck the disabled?

I'm in the USAF Reserves, former active duty. My wife is still active duty. We live on a base. We get a COLA.

We're not fucked. Nobody here is fucked. Where are you getting your information that we're fucked?

 

[RightField]

Gasoline Prices Are Not Rising, the Dollar Is Falling
Forbes
Louis Woodhil
Today.

Panic is in the air as gasoline prices move above $4.00 per gallon. Politicians and pundits are rounding up the usual suspects, looking for someone or something to blame for this latest outrage to middle class family budgets. In a rare display of bipartisanship, President Obama and Speaker of the House John Boehner are both wringing their hands over the prospect of seeing their newly extended Social Security tax cut gobbled up by rising gasoline costs.

Unfortunately, the talking heads that are trying to explain the reasons for high oil prices are missing one tiny detail. Oil prices aren’t high right now. In fact, they are unusually low. Gasoline prices would have to rise by another $0.65 to $0.75 per gallon from where they are now just to be “normal”. And, because gasoline prices are low right now, it is very likely that they are going to go up more—perhaps a lot more.

What the politicians, analysts, and pundits are missing is that prices are ratios. Gasoline prices reflect crude oil prices, so let’s use West Texas Intermediate (WTI) crude oil to illustrate this crucial point.

As this is written, West Texas Intermediate crude oil (WTI) is trading at $105.88/bbl. All this means is that the market value of a barrel of WTI is 105.88 times the market value of “the dollar”. It is also true that WTI is trading at €79.95/bbl, ¥8,439.69/barrel, and £67.13/bbl. In all of these cases, the market value of WTI is the same. What is different in each case is the value of the monetary unit (euros, yen, and British pounds, respectively) being used to calculate the ratio that expresses the price.

In terms of judging whether the price of WTI is high or low, here is the price that truly matters: 0.0602 ounces of gold per barrel (which can be written as Au0.0602/bbl). What this number means is that, right now, a barrel of WTI has the same market value as 0.0602 ounces of gold.

During the 493 months since January 1, 1971, the price of WTI has averaged Au0.0732/bbl. It has been higher than that during 225 of those months and lower than that during 268 of those months. Plotted as a graph, the line representing the price of a barrel of oil in terms of gold has crossed the horizontal line representing the long-term average price (Au0.0732/bbl) 29 times.

At Au0.0602/bbl, today’s WTI price is only 82% of its average over the past 41+ years. Assuming that gold prices remained at today’s $1,759.30/oz, WTI prices would have to rise by about 22%, to $128.86/bbl, in order to reach their long-term average in terms of gold. As mentioned earlier, such an increase would drive up retail gasoline prices by somewhere between $0.65 and $0.75 per gallon.

At this point, we can be certain that, unless gold prices come down, gasoline prices are going to go up—by a lot. And, because the dollar is currently a floating, undefined, fiat currency, there is no inherent limit to how far the price of gold in dollars can rise, and therefore no ultimate ceiling on gasoline prices.

Federal Reserve Chairman Ben Bernanke uses a “core CPI index” that excludes food and energy to guide monetary policy. From Big Ben’s point of view, rising gasoline prices are not a problem. For the rest of us, they are becoming a big problem.

Over the centuries, gold has been “the golden constant”. Eventually, all prices equilibrate with gold. This is why gold represents the best available standard in terms of which to define the value of a monetary unit. Forty-one years ago, when the value of the dollar was defined in terms of gold at $35/oz, WTI was selling for $3.56/bbl.

Right now, the threat posed by rising gasoline prices is not just to family budgets. An even greater danger is that the government will use escalating oil prices as an excuse to do something stupid.

After President Nixon abrogated the Bretton Woods monetary arrangement in stages starting in September 1971, both gold prices and oil prices started to rise. The government responded by imposing wage-price controls. This made a bad situation much worse.

This time around, the stupid policies being considered to “deal with” rising gasoline prices include additional cuts in payroll taxes and higher taxes on energy producers.

During the 1970s, the toxic combination of a weak dollar, high tax rates, and onerous regulations introduced a new word into America’s economic vocabulary: stagflation. Reaganomics banished this word to the history books. Now, President Obama and Fed Chairman Bernanke are teaming up to give stagflation another try. It is not likely that Americans will like it any more this time around than they did 40 years ago.

 

[mercury14]

Gasoline Prices Are Not Rising, the Dollar Is Falling
Forbes
Louis Woodhil

Yeah definitely part of it.

On the flip side a weaker dollar means our companies can sell things overseas much easier.

 

[John Doe]

Oh so by "The Obama Administration's measure of inflation", you mean the BLS' CPI-W... Which by law determines COLA by law as per congressional legislation dating back forty years.... And the president has no control over.

Um, dude...you made the BLS link. Literally. Yeah.

Now that's Obama's fault and somehow it's the administrations own personal numbers? Are you a Miles alt or a Vette alt?

No, no and no. It's your fault because you brought a cabinet department into it thinking...that cabinet departments are kinda-sorta part of administrations, I guess? Congratulations! You have it surrounded.

3Q CPI-W by year:
2008: 215.49
2009: 211.00
2010: 214.13
2011: 223.23 (which restarted positive COLA increases)

http://www.ssa.gov/OACT/STATS/avgcpi.html[/QUOTE]

There's social security again. I really would like to know why you keep bringing that up.

 

[John Doe]

None of this ignorant bullshit blame game means anything. COLA is attached to the CPI-W by law that the president cannot touch. You have no idea what you're talking about and you sound like a dumbass.

Nothing like being an arrogant prick on a subject when you have a total misconception of it.

By Jove, I think he's got it!

 

[mercury14]

You're still running from my question as to what inflation numbers the Obama administration is using. No quotes, no links. Why not?

You said that you never suggested anyone in the military was fucked. Then I quoted you suggesting that they're fucked. It's like I'm talking to senile geezer Vette here.

If you're not suggesting that the military is fucked (despite saying both that they are and are not fucked at the same time), then what are you bitching about?

 

[John Doe]

Yes you did.



I'm in the USAF Reserves, former active duty. My wife is still active duty. We live on a base. We get a COLA.

We're not fucked. Nobody here is fucked. Where are you getting your information that we're fucked?

One is a statement of intent and the other is a question. right now that's the most important distinction between the two ideas. I'll let you pick which is which...

Or you could've just answered "no".

 

[mercury14]

One is a statement of intent and the other is a question. right now that's the most important distinction between the two ideas. I'll let you pick which is which...

Yeah you weren't implying anything by suggesting that the Obama Administration is fucking the military... You definitely weren't suggesting that the Obama administration was fucking the military.

Backpedal Backpedal Backpedal!

I take it you've dropped your argument then?

 

[John Doe]

You're still running from my question as to what inflation numbers the Obama administration is using. No quotes, no links. Why not?

I don't need to use a link because I already told you: the ones that save them money. Duh. What do you think has been going on if not that?

You said that you never suggested anyone in the military was fucked. Then I quoted you suggesting that they're fucked. It's like I'm talking to senile geezer Vette here.

No, you quoted me asking you if you meant that we shouldn't care about the opinions of people affected by COLA when you asked "who cares?" That's usually dismissive.

If you're not suggesting that the military is fucked (despite saying both that they are and are not fucked at the same time), then what are you bitching about?

Again, I asked you if you were suggesting that we dismiss the aforementioned opinions. I have explained this several times.

 

[mercury14]

Which military members said they should get a cost-of-living allowance increase during a time when the cost of living wasn't increasing (much)? Especially when Obama gave the entire military a 3.4% pay increase in addition to their annual increase?

Where are you getting your information from?

On our base radio chat with the wing commander, people used to call in all the time asking why COLA wasn't increasing. He told them why and the questions stopped.

 

[SuprSalor]

So. If Obama grows a pair and militarily intervenes in Iran to halt their Nuclear Weapons ambitions as the OP seems to want, that will result in lower petrol prices in Florida?