Economic ignorance?

[Chobham]

Biden has blamed inflation on virtually anyone he can point a finger at. Trump, MAGA, the rich, the gas companies, the gas stations, Putin, everyone but himself and his policies.

Even Jeff Bezos has had enough of Biden's bull shit and has called him out opining that Biden is either engaging in purposeful misdirection or is ignorant of how market forces act. Me? I think it's both, the former is a direct result of the latter.

 

[rockcasbah]

I thought it was caused by rapid late pandemic economic growth.

Who knew?

 

[rockcasbah]

All that pandemic money which gave the illusion that the government could "save" the economy.

The only way government can save the economy is to stay out of trying to manage it top down instead of letting it build from the bottom.

You said that in ‘09 as well. ( sorry, that was Ish)

 

[SgtSpiderMan]

Please let us know which of Biden’s policies made the price of gas go up worldwide.

 

[rockcasbah]

Stop our production, drilling, exploration and pipelines..

Oil is fungible. You might need to look that word up.

Agreed. That was stoopid.

 

[SgtSpiderMan]

Stop our production, drilling, exploration and pipelines..

Oil is fungible. You might need to look that word up.

Biden doesn’t control how much private companies produce.
I must not have been clear, I’m asking what specifically has Biden done, not private companies. Maybe you should look it up.

 

[LukSkyFokker]

People, the thread title is also the title of Ishtard's autobiography.

If you want to read just how economically stupid Chobham (Ishmael) and JohnQuillz (Frsco_Slug_Esq, et.al) I suggest you read this thread:

What happened to all of the doom and gloom economic threads?​

You'll never listen to another thing they have to say on the matter.

​

 

[Chobham]

He's surrounded himself by the types of MMT thinkers who truly believe that government has no direct role in inflation, that it's the result of supply and demand issues, but we know, for a fact that when government increases the money supply the demand for it goes up, but Democrats believe that freshly printed money buys them more votes. They think that they have to keep printing money to keep the supply high instead of letting the markets set the price of money.

Figure this one out for me. He and his crew are of the firm belief that the Federal Government should be in control of everything, but have no direct role in inflation.

Both of those views are a testament as to how stupid they are and how stupid they think we are.

 

[SgtSpiderMan]

"My message to the companies running gas stations and setting prices at the pump is simple: this is a time of war and global peril.

"Bring down the price you are charging at the pump to reflect the cost you’re paying for the product. And do it now."



You don’t have to be the President of the United States to understand that gas stations make very little off a gallon of gas. Their margins often come in at just a few cents, with them making most of their money on convenience store items. I thought that was common knowledge, but no assumption is safe when dealing with Biden.

Gas stations are also often locally owned, and even if they aren’t, they are at the mercy of the cost of supply. Contrary to the president’s attempt to make it seem like big corporations are colluding to raise prices, there is actually heavy competition that prevents such. It would be impossible for all the different owners of gas stations to secretly collude to keep prices high because there would always be one station willing to go down by five cents just a quarter-mile down the road.

Enter Jeff Bezos, the founder of Amazon and owner of The Washington Post. He jumped in to drag Biden for his comment.


Red State.com/Twitter

Wait, when did Biden say anything to gas stations???

 

[SgtSpiderMan]

Figure this one out for me. He and his crew are of the firm belief that the Federal Government should be in control of everything, but have no direct role in inflation.

Both of those views are a testament as to how stupid they are and how stupid they think we are.

I’m still trying to figure out your position of when a Republican is in the White House they have no control of the economy, but when someone from the other party is in the White House they have complete control of the economy .

If you’re taking requests could you play some of the hits, I’d love to hear “oil is a renewable resource”.

 

[SgtSpiderMan]

25 moves by Biden:

biden energy policy high gas prices

I’m asking for the third time for a single thing Biden did, not someone else.

 

[LukSkyFokker]

I’m asking for the third time for a single thing Biden did, not someone else.

New answer from AJ, "tH3 l3Ft!!!!111"

 

[LukSkyFokker]

Wow. Stunning display there, but not in the way you feel about your posts.

Everyone proves that you're an idiot, AJ. It's really not that hard.

 

[Chobham]

The administration seems to be right about some of the stupid.

 

[rockcasbah]

Too bad you guys chose to enter each other instead of entering public service.

 

[SgtSpiderMan]

New answer from AJ, "tH3 l3Ft!!!!111"

AJ got banned again??

 

[SgtSpiderMan]

#22 and #23: Raising taxes​

More than one-quarter of the administration-backed Build Back Better agenda is pulled directly from the “Green New Deal.” The Build Back Better agenda includes new taxes on natural gas and home heating. It also includes new taxes on petroleum and manufacturing.

#24: Picking energy winners and losers

The Build Back Better agenda would spend taxpayer dollars to push utilities to adopt more costly, politically preferred forms of energy, a move that would reduce Americans’ energy choices.

Again, how does that make the price go up in other countries?

 

[RobDownSouth]

Stop our production, drilling, exploration and pipelines..

Oil is fungible. You might need to look that word up.

There's the "exploration" strawman again.
Oil companies own literally thousands of productive established oilfields that they chose not to bring back online, but it's Biden's fault they can't explore federal lands for an opportunity to come online in 4 to 5 years.

Herpa-Derpa-dooo!

 

[Chobham]

Someone seems to be fixated on energy only. Energy isn't the only item being 'inflated.'

 

[HisArpy]

Someone seems to be fixated on energy only. Energy isn't the only item being 'inflated.'

They also don't seem to understand a few other things about economics.

Like, there's a supply of oil on the market which is made up of contributions by various nations. When 1 nation shortens their production that affects the overall supply amount. Globally, prices go up as the available world supply is reduced. Yet somehow these idjits think that the US reducing their part of the supply doesn't affect the cost/supply of oil globally.

Then there's the fun idea that somehow all those consumer goods get to market via teleportation (instead of being transported on trucks and trains which use, wait for it, refined oil for fuel) so the rising price of oil has nothing to do with all of the other consumer goods prices going up.

Let's also mention the rising interest rates which reduces the ability of manufacturers to purchase bulk materials for production via lines of credit, thereby reducing their ability to make goods for consumers and ultimately reducing the supply of those goods on the marketplace and causing the prices of the goods which are available to rise.

 

[Rightguide]

Someone seems to be fixated on energy only. Energy isn't the only item being 'inflated.'

Yep, when the money supply increases and the rate of production of goods and services remain the same or decreases, inflation occurs. Since production decreased on a massive scale during the pandemic years, while at the same time the government injected massive amounts of new stimulus money into the economy, we now are facing massive inflation as those with any understanding would expect. The government tries to conceal the true amount of inflation by removing the costs of energy and food products from the calculations they use to create the CPI Index which furthers the general ignorance of the facts. My sense when assessing the general knowledge of the Biden Administration appointees is that it will get worse before it gets better.

 

[BBanned]

President Biden

@POTUS




United States government official
My message to the companies running gas stations and setting prices at the pump is simple: this is a time of war and global peril. Bring down the price you are charging at the pump to reflect the cost you’re paying for the product. And do it now.

 

[icanhelp1]

President Biden
@POTUS


United States government official
My message to the companies running gas stations and setting prices at the pump is simple: this is a time of war and global peril. Bring down the price you are charging at the pump to reflect the cost you’re paying for the product. And do it now.

LMFAO!! you beat me to it! *PVT dipshit* doesn't watch Biden's useless public bantering.

 

[BBanned]

According to the National Association of Convenience Stores, "Only about 0.1% of the fueling outlets in the country are owned by a major oil company." NACS stated that 62% of U.S. gas stations are owned by an individual or family who only operates a single retail gas location.

 

[BBanned]

yesterday

and


today