Biden creates an economic crisis--Unemployment, Inflation, risk of STAGLFATION increasing

[All_Pro_Bills]

 

11 hours ago, Delete_Account said:

 

Okay, so I think we’re on the same wavelength for much of this topic! Where we continue to differ is on our optimism levels for renewable materials. FWIW: my educational and professional background is in biomedical engineering, I have numerous friends in the materials science/engineering field, and my dad’s own educational and professional background is in solid-state physics.

 

A lot of my optimism is based on the reality that, as a civilization, we have barely scratched the surface (pardon the pun, I guess…?) in our understanding of photovoltaic cells beyond the silicon-based semiconductors or of rechargeable battery materials beyond the lithium-ion cells with polymer electrolytes. Furthermore, scientists working in the nanotech subfield are at the early stages of learning how to construct “designer materials,” i.e. materials not normally found in nature. When you build materials atom-by-atom and layer-by-layer, you can manipulate atom/molecule types and lattice spacings so that you meet and surpass various engineering specs. This gives us many more material options beyond what Mother Earth may give us in her mine deposits!

 

I mentioned the need for a “Materials Manhattan Project” in the 21st century. This research infrastructure already exists all over the country, mostly in academia but also at select DOE+DOD government labs and a few private industry labs. However, the research activity is not happening at nearly the extent commensurate with the climate urgency. It would be useful to have a centralized, top-down, umbrella organizational structure that would oversee all of the disparate materials research, set overarching goals, establish benchmarks for monitoring progress and for quality control, allocate funding, and handle all of the communication to the public as well as to the politicians.

Yes we do agree on let's say 90%.  And I yield to your expertise on much of the rest.  I think we agree there are limitations to current technology and more advancements are necessary.  Where we might agree or disagree is on the pace and timeline for that progress.  My expectation is decades more research and development work is required.  And while I have no opposition to "green" or "renewable" energy I 100% believe the timelines set by various officials, agencies, and governing bodies are unrealistically short.  As I've managed more technical and non-technical projects in my life than I care to remember it always raises a "red flag" when executive management comes into the process dictating schedules and delivery dates while having absolutely no understanding of any details or any plan beyond a well produced powerpoint deck.  It never ends up working out the way they think, generally costing more, taking longer, and with a lot of complexity.  That to me is what's going on here too.    

Edited July 1, 2022 by All_Pro_Bills

[Irv]

On 6/30/2022 at 4:28 PM, Irv said:

I love the new demented angle Joke Biden is being told to take now by whoever is running the Executive Branch:    "Yes.  Inflation is bad but it's not as bad as every other country".  Like everyone is suffering solely due to Putin.  No Joke. If you weren't such a feeble wimp and you didn't listen to morons in the Squad, there wouldn't be a war and we'd still be energy independent.  But you ***** that up.   What an idiot.  What a mess. 

 

 

 

[ComradeKayAdams]

On 7/1/2022 at 9:20 AM, All_Pro_Bills said:

Yes we do agree on let's say 90%.  And I yield to your expertise on much of the rest.  I think we agree there are limitations to current technology and more advancements are necessary.  Where we might agree or disagree is on the pace and timeline for that progress.  My expectation is decades more research and development work is required.  And while I have no opposition to "green" or "renewable" energy I 100% believe the timelines set by various officials, agencies, and governing bodies are unrealistically short.  As I've managed more technical and non-technical projects in my life than I care to remember it always raises a "red flag" when executive management comes into the process dictating schedules and delivery dates while having absolutely no understanding of any details or any plan beyond a well produced powerpoint deck.  It never ends up working out the way they think, generally costing more, taking longer, and with a lot of complexity.  That to me is what's going on here too.    

 

I don’t think it needs to take us several decades to get to a satisfactory state of renewables. With the proper political willpower, we could get it done within one decade. If you recall earlier, I provided an example of a national energy percentage breakdown that could get us to net zero emissions by 2050:

 

45% nuclear

20% EV

15% solar

10% petroleum

5% natural gas

5% all other renewables

0% coal

 

Using CURRENT technology only (so stuff like Generation 2+ fission reactors, lithium-ion batteries, and silicon-based photovoltaics), we could get to something like the following by the end of this decade, simply by enacting sufficiently large government expenditures on energy infrastructure:

 

35% nuclear

10% EV

10% solar

20% petroleum

20% natural gas

5% all other renewables

0% coal

 

As you can see, I’m accounting for the fact that any practical energy solution will take longer than a decade to wean ourselves off petroleum and natural gas. This sample breakdown would put us well on our way to meeting net zero emissions, and that’s assuming only incremental technology improvements made henceforth. I didn’t even factor in any major nanotech/materials breakthroughs in EV batteries, solar panels, or generation 3/4 fission reactor plants. Those would surely come about at a rapid pace if our country actually tried. The technological difficulties for carbon-free energy aren’t quite as daunting as those faced at the very beginning of the Manhattan Project (which took us ~4 years) or of NASA’s race to the moon (which took us ~8 years). Moreover, we have an international STEM community collaborating on carbon-free energy R&D, unlike the Manhattan Project and NASA moon landing which were carried out under strict national secrecy.

 

So basically, what I’m saying is that I’m much less worried about the technology issues than I am the political ones. What we need by 2024 is the next great U.S. energy president to emerge who takes this subject seriously and who demands an all-hands-on-deck approach involving both the government and private industries. What we don’t need are more MMGW deniers, EPA haters, fossil fuel crony capitalists, and free market fundamentalists.

[SoCal Deek]

10 minutes ago, Delete_Account said:

 

I don’t think it needs to take us several decades to get to a satisfactory state of renewables. With the proper political willpower, we could get it done within one decade. If you recall earlier, I provided an example of a national energy percentage breakdown that could get us to net zero emissions by 2050:

 

45% nuclear

20% EV

15% solar

10% petroleum

5% natural gas

5% all other renewables

0% coal

 

Using CURRENT technology only (so stuff like Generation 2+ fission reactors, lithium-ion batteries, and silicon-based photovoltaics), we could get to something like the following by the end of this decade, simply by enacting sufficiently large government expenditures on energy infrastructure:

 

35% nuclear

10% EV

10% solar

20% petroleum

20% natural gas

5% all other renewables

0% coal

 

As you can see, I’m accounting for the fact that any practical energy solution will take longer than a decade to wean ourselves off petroleum and natural gas. This sample breakdown would put us well on our way to meeting net zero emissions, and that’s assuming only incremental technology improvements made henceforth. I didn’t even factor in any major nanotech/materials breakthroughs in EV batteries, solar panels, or generation 3/4 fission reactor plants. Those would surely come about at a rapid pace if our country actually tried. The technological difficulties for carbon-free energy aren’t quite as daunting as those faced at the very beginning of the Manhattan Project (which took us ~4 years) or of NASA’s race to the moon (which took us ~8 years). Moreover, we have an international STEM community collaborating on carbon-free energy R&D, unlike the Manhattan Project and NASA moon landing which were carried out under strict national secrecy.

 

So basically, what I’m saying is that I’m much less worried about the technology issues than I am the political ones. What we need by 2024 is the next great U.S. energy president to emerge who takes this subject seriously and who demands an all-hands-on-deck approach involving both the government and private industries. What we don’t need are more MMGW deniers, EPA haters, fossil fuel crony capitalists, and free market fundamentalists.

Okie Dokie 

[ALF]

55 minutes ago, Delete_Account said:

 

I don’t think it needs to take us several decades to get to a satisfactory state of renewables. With the proper political willpower, we could get it done within one decade. If you recall earlier, I provided an example of a national energy percentage breakdown that could get us to net zero emissions by 2050:

 

45% nuclear

20% EV

15% solar

10% petroleum

5% natural gas

5% all other renewables

0% coal

 

Using CURRENT technology only (so stuff like Generation 2+ fission reactors, lithium-ion batteries, and silicon-based photovoltaics), we could get to something like the following by the end of this decade, simply by enacting sufficiently large government expenditures on energy infrastructure:

 

35% nuclear

10% EV

10% solar

20% petroleum

20% natural gas

5% all other renewables

0% coal

 

So basically, what I’m saying is that I’m much less worried about the technology issues than I am the political ones. What we need by 2024 is the next great U.S. energy president to emerge who takes this subject seriously and who demands an all-hands-on-deck approach involving both the government and private industries. What we don’t need are more MMGW deniers, EPA haters, fossil fuel crony capitalists, and free market fundamentalists.

 

I'm for nuclear energy as a bridge to the future , France did it safely . I just can't count on solar and wind to be a reliable source 24/7 . High efficiency gas furnaces and appliances till the power grid can safely handle a much higher load.

 

A Republican WH and Congress will first go to energy independence thru fossil fuels. Inflation and gas prices are the game changer. The US spent many $trillions due to covid that needed to be spent reducing need for fossil fuels. 

[OrangeBills]

1 hour ago, Delete_Account said:

 

I don’t think it needs to take us several decades to get to a satisfactory state of renewables. With the proper political willpower, we could get it done within one decade. If you recall earlier, I provided an example of a national energy percentage breakdown that could get us to net zero emissions by 2050:

 

45% nuclear

20% EV

15% solar

10% petroleum

5% natural gas

5% all other renewables

0% coal

 

Using CURRENT technology only (so stuff like Generation 2+ fission reactors, lithium-ion batteries, and silicon-based photovoltaics), we could get to something like the following by the end of this decade, simply by enacting sufficiently large government expenditures on energy infrastructure:

 

35% nuclear

10% EV

10% solar

20% petroleum

20% natural gas

5% all other renewables

0% coal

 

As you can see, I’m accounting for the fact that any practical energy solution will take longer than a decade to wean ourselves off petroleum and natural gas. This sample breakdown would put us well on our way to meeting net zero emissions, and that’s assuming only incremental technology improvements made henceforth. I didn’t even factor in any major nanotech/materials breakthroughs in EV batteries, solar panels, or generation 3/4 fission reactor plants. Those would surely come about at a rapid pace if our country actually tried. The technological difficulties for carbon-free energy aren’t quite as daunting as those faced at the very beginning of the Manhattan Project (which took us ~4 years) or of NASA’s race to the moon (which took us ~8 years). Moreover, we have an international STEM community collaborating on carbon-free energy R&D, unlike the Manhattan Project and NASA moon landing which were carried out under strict national secrecy.

 

So basically, what I’m saying is that I’m much less worried about the technology issues than I am the political ones. What we need by 2024 is the next great U.S. energy president to emerge who takes this subject seriously and who demands an all-hands-on-deck approach involving both the government and private industries. What we don’t need are more MMGW deniers, EPA haters, fossil fuel crony capitalists, and free market fundamentalists.

 

 

The Nat Gas assumptions...not possibly close I'm afraid.

 

And the Libs hate Nuclear, so good luck with that.

[Irv]

Would it be too big of a stretch to see that idiot Hochul ban natural gas appliances so we all have to go out and get new ones?   What a mess.  
 

 

Edited July 4, 2022 by Irv

[BillsFanNC]

 

[Doc]

That’s why he’s a Joke. And so are his interns…

[SoCal Deek]

8 hours ago, DRsGhost said:

 

How in the hell is this a “time of war”? Or a time of “global peril”? I cannot believe that’s an official message from the White House. It’s amateur hour at 1600 Pennsylvania Avenue.  Shameful! Hey Joe….get to work! 

[Tiberius]

American job creating machine just rolls on. 

 

 

Job growth accelerated at a much faster pace than expected in June, indicating that the main pillar of the U.S. economy remains strong despite pockets of weakness.

Nonfarm payrolls increased 372,000 in the month, better than the 250,000 Dow Jones estimate and continuing what has been a strong year for job growth, according to data Friday from the Bureau of Labor Statistics.

The unemployment rate was 3.6%, unchanged from May and in line with estimates.

 https://www.cnbc.com/2022/07/08/jobs-report-june-2022-.html

[All_Pro_Bills]

On 7/4/2022 at 7:06 PM, SoCal Deek said:

How in the hell is this a “time of war”? Or a time of “global peril”? I cannot believe that’s an official message from the White House. It’s amateur hour at 1600 Pennsylvania Avenue.  Shameful! Hey Joe….get to work! 

Perhaps what the person, whose identity is a secret, running the White House and the President's twitter account is referring to is the administration's "war" against reality?  

Like not understanding the retail gasoline market and the distribution network along with contracts and jobbers while telling gas stations to sell their product below cost.  Now I know most of the people running the government never held a public sector job or ran a business but even for them it should be obvious this sell a dollar for fifty cents demand is a bad idea.

Edited July 8, 2022 by All_Pro_Bills

[Tiberius]

 

[ComradeKayAdams]

On 7/3/2022 at 3:03 PM, ALF said:

I'm for nuclear energy as a bridge to the future , France did it safely . I just can't count on solar and wind to be a reliable source 24/7 . High efficiency gas furnaces and appliances till the power grid can safely handle a much higher load.

 

A Republican WH and Congress will first go to energy independence thru fossil fuels. Inflation and gas prices are the game changer. The US spent many $trillions due to covid that needed to be spent reducing need for fossil fuels. 

 

I don’t disagree with anything you said here, ALF.

 

It’s unfortunate that Republican voters think opening the floodgates on domestic fossil fuel supply will have a major effect on inflation and gas prices. A cursory look at U.S. fossil fuel import/export data from the past 5 years would shatter those hopes, as would a cursory look at international inflation and gas price data from the past 5 years. The lesson, in other words: our energy industry isn’t nationalized, and fossil fuel prices are subject to international supply/demand forces.

 

Yet another GOP inflation talking point that should be dispelled by election season (but won’t) is the notion that excess government spending and increased spending agency among the labor market are major contributing factors. We can look at 5-year national/international data on federal budgets, consumer spending, wage growth, and inflation to figure out that these aren’t good explanations, either. And the observed spending spikes in 2020 were necessary to prevent a dangerous deflationary cycle.

 

On 7/3/2022 at 3:51 PM, OrangeBills said:

The Nat Gas assumptions...not possibly close I'm afraid.

 

And the Libs hate Nuclear, so good luck with that.

 

At the moment, natural gas is about 30% of our total domestic energy consumption. You don’t think we could get that number down to 20% by ~2035 and 5% by 2050 if we relied on nuclear? That would be three decades worth of preparation! Almost all of the effort would come in the simple form of preventing new public land sales for fracking. Every employee who recently joined the natural gas industry would still have the opportunity to finish their careers in it if they so choose.

 

“Libs” are slowly changing their minds on nuclear. I’m seeing it! It’s true, though, that “cons” are historically more favorable to it. Yet another reason why I’m so pro-nuclear is because it lends itself better to political compromise than any of our other energy options.

[aristocrat]

 

[OrangeBills]

11 hours ago, Delete_Account said:

 

I don’t disagree with anything you said here, ALF.

 

It’s unfortunate that Republican voters think opening the floodgates on domestic fossil fuel supply will have a major effect on inflation and gas prices. A cursory look at U.S. fossil fuel import/export data from the past 5 years would shatter those hopes, as would a cursory look at international inflation and gas price data from the past 5 years. The lesson, in other words: our energy industry isn’t nationalized, and fossil fuel prices are subject to international supply/demand forces.

 

Yet another GOP inflation talking point that should be dispelled by election season (but won’t) is the notion that excess government spending and increased spending agency among the labor market are major contributing factors. We can look at 5-year national/international data on federal budgets, consumer spending, wage growth, and inflation to figure out that these aren’t good explanations, either. And the observed spending spikes in 2020 were necessary to prevent a dangerous deflationary cycle.

 

 

At the moment, natural gas is about 30% of our total domestic energy consumption. You don’t think we could get that number down to 20% by ~2035 and 5% by 2050 if we relied on nuclear? That would be three decades worth of preparation! Almost all of the effort would come in the simple form of preventing new public land sales for fracking. Every employee who recently joined the natural gas industry would still have the opportunity to finish their careers in it if they so choose.

 

“Libs” are slowly changing their minds on nuclear. I’m seeing it! It’s true, though, that “cons” are historically more favorable to it. Yet another reason why I’m so pro-nuclear is because it lends itself better to political compromise than any of our other energy options.

 

"The Libs" should be pro-nuclear, but they're apparently not very smart so they missed this boat by a mile.

 

The answers to your questions are that Nuclear SHOULD be able to replace Nat Gas, but for the next 10-15 years you're still talking Nuclear Fission.  In that case, it's just not possible and we will be ultra-reliant on Nat Gas.  Incidentally your 30% number is way off, it's really 38-40% but in reality it's much more than that at given periods...you can't average out baseload capacity for the periods when Renewables are actually 'shining' or else you'd have extended periods of down-time.

 

The US Gov't (read, Libs) have made operating and constructing a Fission plant so impossible that none will be constructed, I'm sorry to say, to create this response you're referring to.  They are still shutting down US Nuclear plants, and the most recent dual-Fission reactor plant to be constructed was/is like 8 years behind and costing $Billions more than expected, essentially shutting down any follow-on projects.

 

There would be hope for smaller reactors in development if not for the afore-mentioned cultural problem we have with the Left.

 

So you're really going to have to wait a couple decades for Nuclear Fusion to take over...the Tech is really getting there but will take a generation for it to be scaled to our needs.

 

US citizens should watch what's happening to their Eco-Green-Oriented European counterparts, particularly this winter when they have no fuel to burn unless they pay Russian extortionary pricing (in Rubles likely), and reconsider if that's the future they under some Leftist/Biden/Harris leftward lurch.

 

[Doc]

8 minutes ago, OrangeBills said:

 

"The Libs" should be pro-nuclear, but they're apparently not very smart so they missed this boat by a mile.

 

The answers to your questions are that Nuclear SHOULD be able to replace Nat Gas, but for the next 10-15 years you're still talking Nuclear Fission.  In that case, it's just not possible and we will be ultra-reliant on Nat Gas.  Incidentally your 30% number is way off, it's really 38-40% but in reality it's much more than that at given periods...you can't average out baseload capacity for the periods when Renewables are actually 'shining' or else you'd have extended periods of down-time.

 

The US Gov't (read, Libs) have made operating and constructing a Fission plant so impossible that none will be constructed, I'm sorry to say, to create this response you're referring to.  They are still shutting down US Nuclear plants, and the most recent dual-Fission reactor plant to be constructed was/is like 8 years behind and costing $Billions more than expected, essentially shutting down any follow-on projects.

 

There would be hope for smaller reactors in development if not for the afore-mentioned cultural problem we have with the Left.

 

So you're really going to have to wait a couple decades for Nuclear Fusion to take over...the Tech is really getting there but will take a generation for it to be scaled to our needs.

 

US citizens should watch what's happening to their Eco-Green-Oriented European counterparts, particularly this winter when they have no fuel to burn unless they pay Russian extortionary pricing (in Rubles likely), and reconsider if that's the future they under some Leftist/Biden/Harris leftward lurch.

 

They're in some fantasy world that renewable are anywhere close to supplying even a fraction of our energy needs.

[B-Man]

 

 

Prepare for the Incoming Hit: WH Already Is Warning About the New CPI Number

 

 

https://redstate.com/nick-arama/2022/07/12/prepare-for-the-incoming-hit-wh-already-is-warning-about-the-new-cpi-number-n593370

 

 

[B-Man]

 

 

 

Nationwide RailroadnStrike Looms for Monday, and Biden's Asleep at the Switch

by Stacey Lennox

 

Negotiations for a new national contract between the parties in the National Railway Labor Conference entered their third year in 2022. This is the group made up of Class I railroad management representatives and railroad union officials responsible for defining the new terms. The process has progressed to the end of the tracks. The parties are in a 30-day cooling-off period prescribed by the Railway Labor Act (RLA). The period ends July 18. In anticipation, some unions are taking a strike authorization vote. On Tuesday, the Brotherhood of Locomotive Engineers and Trainmen (BLET) announced that 99.5% of their participating members voted to authorize a strike.

 

https://pjmedia.com/news-and-politics/stacey-lennox/2022/07/13/what-could-go-wrong-next-nation-wide-railroad-strike-looms-for-monday-and-bidens-asleep-at-the-switch-n1612606

 

 

 

[B-Man]

 

 

 

 

 

 

[Big Blitz]

 

‘Close to an emergency situation’: Record inflation impacting renters in Richmond

 

 

Tenants grapple with rent hikes amid overall inflation spike

 

But Martin Wegbreit with the Central Virginia Legal Aid Society (CVLAS) said that many renters are struggling to keep up with rental payments, with apartment costs increasing even faster than inflation.

 

“If it is private housing that has no government support at all, then there is no limit,” he said. “There is no rent control in Virginia, and the limit is only what the free market will allow, and free markets are not always fair markets.”

 

Data from rental listing site Apartment List showed that from March 2020 to May 2022, city-level rent estimates increased significantly throughout Virginia. In Glen Allen, rent grew approximately 19.5%; 25.3% in Richmond; and 26.8% in Chester.

 

“The issue is that we have had a neglective housing policy for decades,” Wegbreit said. “The issue is that we have not invested enough in affordable housing, and that’s why so many people are simply unable to afford the rents. That’s why so many people have what we refer to as ‘rent burden.'”

 

https://www.wric.com/news/local-news/richmond/close-to-an-emergency-situation-record-inflation-impacting-renters-in-richmond/

 

 

Thats a bold faced lie.

 

Rent is the first bomb.  Next is housing.  Expect massive "corrections" by March/April of 2023 - it will be worse before then but the media won't talk much about it till well after the election.  

 

 

 

Nice job Covidiots!

[B-Man]

 

 

New York Times: GOP ‘Seizes on Inflation,’ Campaign Ads Risk Recession?

 

[New York Times economic policy reporter Alan Rappeport] couldn’t avoid how the inflation issue was killing the administration in polls. When Republicans weren’t “seizing,” they were latching:

 

….Treasury Secretary Janet L. Yellen has acknowledged that the pandemic aid package contributed to inflation by spurring demand in the economy. Last month, she admitted that she was “wrong” to describe price increases as “transitory.”

 

Republicans have latched on to that as proof that Democrats and the Biden administration misled voters and mishandled the economy and to claim — despite a strong labor market and other signs of economic health — that the nation is on the verge of economic collapse.

 

Even though Joe Biden is president and his party controls both houses of Congress, Rappeport suggested further inflation fallout, including a recession, might be the fault of….the Republican Party talking about it in political ads?

 

 

 

Evergreen:

 

 

https://www.newsbusters.org/blogs/nb/clay-waters/2022/07/17/new-york-times-gop-seizes-inflation-campaign-ads-risk-recession

 

 

Edited July 17, 2022 by B-Man

[B-Man]

 

 

Biden Energy Advisor Acknowledges What's Really Driving the Admin's Plan for Oil And Gas

 

 

 

 

 

[B-Man]

 

 

Uh oh: Home sales fall, mortgage demand crashes to 22-year low

by Ed Morrissey

 

If the economy can be likened to a game of musical chairs, it looks like the music is ending for the housing market — fast. Two big indicators today show that the Federal Reserve’s actions to tighten money supply as a brake on inflation has already had a big impact. Mortgage demand crashed to a 22-year low last week, leaving sellers potentially in a situation where prices may have to fall: Mortgage demand fell more than 6% last week compared with the previous week, hitting the lowest level since 2000, according to the Mortgage Bankers Association’s seasonally adjusted index. Applications for a mortgage to purchase a home dropped 7% for the week

 

https://hotair.com/ed-morrissey/2022/07/20/uh-oh-home-sales-fall-mortgage-demand-crashes-to-22-year-low-n484032

 

 

 

[B-Man]

 

 

 

 

 

[Big Blitz]

Carry on January 6th distraction!  Carry on to distract how we broke the world and destroyed the American economy!

 

 

The job market is beginning to show cracks

 

The labor market, until now a pillar of economic resilience, is showing cracks.

 

Job growth is slowing, unemployment claims are ticking up and several big companies, including Apple and Meta, are putting hiring plans on hold. There are signs that more firms are slashing jobs in industries as varied as tech, advertising, health care, finance and law.

 

 

Workers are picking up extra jobs just to pay for gas and food

Convenience store chain 7-Eleven laid off 880 corporate workers in Texas and Ohio, following its purchase of a rival chain, a company spokesperson said an email. Ford is planning to cut 8,000 positions in the coming weeks, Bloomberg News reported. Meanwhile, electric carmaker Rivian is cutting 700 positions, delivery start-up Gopuff is laying off 1,500, and mortgage lender LoanDepot is slashing 4,800 jobs this year, according to reports.

 

“What had been universally positive labor market news is certainly less so now,” said Liz Ann Sonders, managing director and chief investment strategist at Charles Schwab. “The anecdotes are starting to stack up of companies laying off workers or freezing hiring or limiting job postings.”

 

 

https://www.msn.com/en-us/news/us/the-job-market-is-beginning-to-show-cracks/ar-AAZQXk4

 

 

Friday news dump....

 

 

This is a 10 plus year disaster.  

Edited July 22, 2022 by Big Blitz

[Tiberius]

 

[JDHillFan]

5 hours ago, Tiberius said:

 

4.41 is practically a steal! Hail Brandon!!

[B-Man]

 

 

Joe Biden is now trying to sell us on this talking point that, somehow, they’ve brought down the gas prices, when the prices have dropped because of lack of demand.

 

The Biden team is crowing about a 50-cent drop at around one-fifth of the gas stations in the country, claiming that’s saving us $25 a month.

 

But as we’ve pointed out, if they want to make that argument, by their same figures, they are costing us more than $100 more a month because the gas is still more than $2.00 more than it was when Biden came in.

 

Americans are not stupid; they know how much Joe Biden is costing them.

 

 

[B-Man]

 

 

 Biden Administration Bracing for a Tsunami of Bad Economic News Next Week.

 

 

Politico calls the coming avalanche of bad economic news a “Category 5 storm.” Indeed, the Biden administration may want to dig a hole and hide while Biden goes to his summer home in Delaware, given the depressing numbers that will come out of Washington this coming week.

 

https://pjmedia.com/news-and-politics/rick-moran/2022/07/23/biden-administration-bracing-for-a-tsunami-of-bad-economic-news-next-week-n1615339

 

https://www.politico.com/newsletters/politico-nightly/2022/07/22/next-weeks-category-5-economic-storm-00047545

 

 

 

 

[Doc]

Just stay in Delaware, Joke.

[B-Man]

 

 

 

 

 

 

[Doc]

That which we call a recession, by any other name would smell as bad.

[Big Blitz]

The Northeast - WNY and California headline the high chance list.  Or, Covidstan:

 

 

 

 

Falling home prices? This interactive map shows the statistical odds of it occurring in your local housing market

 

 

https://fortune.com/2022/07/24/how-likely-home-prices-to-fall-in-you-local-housing-market-housing-chart/

[BuffaninSarasota]

54 minutes ago, B-Man said:

 

 

 

 

 

 

Just like Joke refused to use the word “inflation” …..aka “rising prices” per Biden

[B-Man]

 

 

Watch: Janet Yellen's Spin on Recession Defies Reality

 

 

 

As we reported earlier, the word looks like there’s going to be a negative-1.6 GDP when the numbers come in this week on July 28th. Two consecutive quarters of negative GDP is the common definition of a recession. The White House is already trying to spin the anticipated results and redefine what a recession is.

 

‘On Sunday, Treasury Secretary Janet Yellen acknowledged the real definition of a recession.

 

 

But even while acknowledging the proper definition and acknowledging that a negative GDP number was likely coming, she tried to spin and claimed that this was “not an economy in recession,” trying to term it just a “slowdown” and a “transition.”

 

 

So, the same Biden team that has lied about inflation and gas prices now wants to redefine what a recession is to deny reality. Yellen was wrong about inflation too, calling it “transitory.” It’s been “transitory” for about 13 months now.

 

Yellen trying to claim it wouldn’t be a recession was even a little too much for “Meet the Press” host Chuck Todd. Todd said she was “splitting hairs” and that it met the “technical definition” of recession, but she was trying to claim it wasn’t.

 

https://redstate.com/nick-arama/2022/07/24/watch-janet-yellens-spin-on-recession-defies-reality-n600962

 

 

[Doc]

I trust her.  She was so right about inflation being transitory...

[OrangeBills]

Basically, Democrats’ ideas are really bad

 

That’s all you need to know

[Gene Frenkle]

Janet Yellen is either bought, stupid or trying to deflect from all the cash the Fed has printed since the pandemic "recovery". The Fed continues to prop up a bloated market while cutting rates and outright lying about tightening. Inflation is also much higher than reported because they recently changed how that calculation is done.

 

The next thing they are going to tell you is that we are not "technically" in a recession, even though the long-accepted criteria have been met. We are headed for 2008 or worse and it probably won't be too long. If they keep this up too much longer, I'm afraid it might cross into depression territory. The scale of the current market bubble dwarfs anything we've seen before.

[Gene Frenkle]

 

Honestly, I think Biden is just trying to hold this economy and market together through midterms, if that's even possible.