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chopstick
nobody



Registered: 07/26/08
Posts: 5,252
Loc: Chin's Wok
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The Democrat-led destruction of the economy 7
#27828904 - 06/20/22 03:45 PM (1 year, 10 months ago) |
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This thread is dedicated for news and information relating to Biden's destruction of the economy, both domestic and globally.
I feel this topic is important given the major pain and hurt that many American families are no doubt going through at this time.
I'll start with this article:
https://nypost.com/2022/05/23/biden-praises-gas-prices-as-part-of-incredible-transition/
Biden's quoted as saying:
“[When] it comes to the gas prices, we’re going through an incredible transition that is taking place that, God willing, when it’s over, we’ll be stronger and the world will be stronger and less reliant on fossil fuels when this is over,” Biden said during a press conference in Japan following his meeting with Prime Minister Fumio Kishida.
So, from Biden's comments, they make it very clear that they view higher gas prices as a good thing because it will apparently force Americans into switching to all electric vehicles. Furthermore, Biden has done everything in his power as president to hurt the oil & gas industry as much as he can.
But why? What do they hope to gain from this? Most Americans cannot afford to just randomly drop 70K on an electric vehicle. It's out of touch to even suggest that this is the answer. Moreover, the electricity required to charge EV's still comes largely from coal and gas. Also, let's be honest - the American middle class depends on the oil and gas industry for a lot of high paying jobs and getting rid of this industry will destroy many of them.
As great as it would be for the environment to make this transition, the infrastructure isn't in place and Americans will no longer have a steady supply of electricity if suddenly the switch is made without actually having enough renewable energy infrastructure in place. Americans will be facing electricity blackouts regularly if suddenly every coal power plant were to shutdown.
I'm not convinced that Biden or his administration actually cares about the environment, but rather that they have ulterior motives for pushing this agenda. What is their aim here? Why do they want Americans to be faced with electricity blackouts? What sense does it make to force Americans into EV's if the grid won't have sufficient power to charge all of them? What sense does it make to put people into a position where they can no longer afford their heating or electric bills?
Have these people gone insane?
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6Trypp9
Stranger



Registered: 04/17/22
Posts: 165
Loc: Earth
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Re: The Democrat-led destruction of the economy [Re: chopstick] 2
#27828977 - 06/20/22 05:01 PM (1 year, 10 months ago) |
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Yes,they have gone insane. They are mad with power and its disgusting that the masses can't seem to or won't pull their heads out of their asses,group together and do something about it.
We need a complete overhaul of our governments and the only way that is going to happen is if normal people stop fighting over petty political topics and focus on getting rid of the greedy lying scum.
Edited by 6Trypp9 (06/20/22 05:01 PM)
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Kryptos
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Re: The Democrat-led destruction of the economy [Re: 6Trypp9] 1
#27829215 - 06/20/22 08:02 PM (1 year, 10 months ago) |
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We're talking about the Biden that rents drilling land at significantly below market value and pumps about 15 Billion dollars in subsidies into the oil market, which is currently posting literally double profits compared to first quarter of last year (Exxon posted 5.5B Q122, 2.7BQ121).
The oil companies that have literally doubled their profit margins in the last year and posted record growth. Those are the guys "being destroyed by Biden's policies"?
Nah man. Oil companies are doing great. Because the GOP voted unanimously to allow price gouging. And so they gently slide their dick in your ass at the pump. My stock goes up. Oil is doing pretty good right now.
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chopstick
nobody



Registered: 07/26/08
Posts: 5,252
Loc: Chin's Wok
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Re: The Democrat-led destruction of the economy [Re: Kryptos]
#27830284 - 06/21/22 12:21 PM (1 year, 10 months ago) |
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Now I get why our government is pushing inflation so hard:
Inflation is the fiscal complement of statism and arbitrary government. It is a cog in the complex of policies and institutions which gradually lead toward totalitarianism.
— Ludwig von Mises
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6Trypp9
Stranger



Registered: 04/17/22
Posts: 165
Loc: Earth
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Re: The Democrat-led destruction of the economy [Re: chopstick]
#27830434 - 06/21/22 01:50 PM (1 year, 10 months ago) |
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Ummm i wasn't talking about how the oil pigs are doing but anyways
Edited by 6Trypp9 (06/21/22 01:50 PM)
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Kryptos
Stranger

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Re: The Democrat-led destruction of the economy [Re: 6Trypp9]
#27830562 - 06/21/22 03:17 PM (1 year, 10 months ago) |
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Inflation is how you keep the working class from collecting too much power. It's also a good cover story for the highest corporate profits in forever, based both on numbers and percentages.
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christopera
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Re: The Democrat-led destruction of the economy [Re: Kryptos]
#27830564 - 06/21/22 03:18 PM (1 year, 10 months ago) |
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Woo, those petroleum profits are off the goddam charts. Thanks, Biden!
-------------------- Enjoy the process of your search without succumbing to the pressure of the result. A Dorito is pizza, change my mind. Bank and Union with The Shroomery at the Zuul on The internet - now with %'s and things I’m sorry it had to be me.
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RenegadeMycologist
On the case



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Re: The Democrat-led destruction of the economy [Re: chopstick]
#27830598 - 06/21/22 04:02 PM (1 year, 10 months ago) |
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Enough. I don't want to hear anything about wreckless spending. Biden changed people's lives !? Just print more moneys american bros. And send a few more billions to UKR to fight your sworn enemies. You should also start home imprisonment again. New fresh money + people being more productive at home + Ruskies getting rampaged by zelenski, + sanctions kicking in, what could possibly go wrong ? Life is good for Americans, true American dream.
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l e a r n i n g t h i n g s
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feevers



Registered: 12/28/10
Posts: 8,780
Loc:
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Re: The Democrat-led destruction of the economy [Re: chopstick]
#27830616 - 06/21/22 04:14 PM (1 year, 10 months ago) |
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Quote:
chopstick said: This thread is dedicated for news and information relating to Biden's destruction of the economy, both domestic and globally.
I feel this topic is important given the major pain and hurt that many American families are no doubt going through at this time.
I'll start with this article:
https://nypost.com/2022/05/23/biden-praises-gas-prices-as-part-of-incredible-transition/
Biden's quoted as saying:
“[When] it comes to the gas prices, we’re going through an incredible transition that is taking place that, God willing, when it’s over, we’ll be stronger and the world will be stronger and less reliant on fossil fuels when this is over,” Biden said during a press conference in Japan following his meeting with Prime Minister Fumio Kishida.
So, from Biden's comments, they make it very clear that they view higher gas prices as a good thing because it will apparently force Americans into switching to all electric vehicles. Furthermore, Biden has done everything in his power as president to hurt the oil & gas industry as much as he can.
But why? What do they hope to gain from this? Most Americans cannot afford to just randomly drop 70K on an electric vehicle. It's out of touch to even suggest that this is the answer. Moreover, the electricity required to charge EV's still comes largely from coal and gas. Also, let's be honest - the American middle class depends on the oil and gas industry for a lot of high paying jobs and getting rid of this industry will destroy many of them.
As great as it would be for the environment to make this transition, the infrastructure isn't in place and Americans will no longer have a steady supply of electricity if suddenly the switch is made without actually having enough renewable energy infrastructure in place. Americans will be facing electricity blackouts regularly if suddenly every coal power plant were to shutdown.
I'm not convinced that Biden or his administration actually cares about the environment, but rather that they have ulterior motives for pushing this agenda. What is their aim here? Why do they want Americans to be faced with electricity blackouts? What sense does it make to force Americans into EV's if the grid won't have sufficient power to charge all of them? What sense does it make to put people into a position where they can no longer afford their heating or electric bills?
Have these people gone insane?
NYpost?
I thought you said that everything MSM says is lies?
So since MSM is all lies then in reality Biden really wants super cheap gas and no electric vehicles? And Joe Biden is a Republican?
This is all so confusing!
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christopera
Stranger


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Chop is a troll that advocates for Russia in their invasion of Ukraine. So you guys will probably meet in the middle on that. Of course Chop doesn't have a consistent or worthy viewpoint, outside of loving the Russian invasion and war I suppose. It's more an "America bad, Russia good" stance, but most of us here in the US aren't making Ukrainians fight, we aren't making Russia invade, and while there are obvious improprieties along the way I think most of us just want the fighting to end. No justification for war is good enough.
-------------------- Enjoy the process of your search without succumbing to the pressure of the result. A Dorito is pizza, change my mind. Bank and Union with The Shroomery at the Zuul on The internet - now with %'s and things I’m sorry it had to be me.
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Kryptos
Stranger

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Re: The Democrat-led destruction of the economy [Re: feevers]
#27830635 - 06/21/22 04:25 PM (1 year, 10 months ago) |
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NYPost, along with daily mail, and breitbart, and infowars, etc. is one of those good rebel news sources that dares speak the truth. And occasionally appear to make up Biden quotes from thin air, because I don't see that in the transcripts.
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Falcon91Wolvrn03
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Re: The Democrat-led destruction of the economy [Re: feevers] 1
#27830647 - 06/21/22 04:34 PM (1 year, 10 months ago) |
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Quote:
feevers said: NYpost?
I thought you said that everything MSM says is lies?
This is all so confusing!
No not everything. But a good number of things. Hope that clears up some of the confusion for you.
-------------------- I am in a minority on the shroomery, as I frequently defend the opposing side when they have a point about something or when my side make believes something about them. I also attack my side if I think they're wrong. People here get very confused by that and think it means I prefer the other side.
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chopstick
nobody



Registered: 07/26/08
Posts: 5,252
Loc: Chin's Wok
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Re: The Democrat-led destruction of the economy [Re: christopera]
#27830649 - 06/21/22 04:35 PM (1 year, 10 months ago) |
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Quote:
christopera said: Chop is a troll that advocates for Russia in their invasion of Ukraine. So you guys will probably meet in the middle on that. Of course Chop doesn't have a consistent or worthy viewpoint, outside of loving the Russian invasion and war I suppose. It's more an "America bad, Russia good" stance, but most of us here in the US aren't making Ukrainians fight, we aren't making Russia invade, and while there are obvious improprieties along the way I think most of us just want the fighting to end. No justification for war is good enough.
Crapopera is a troll that advocates for his personal supremacy over everybody else and will link to the same retarded "studies" over and over so long as it proves the one thing he cares about the most: pretending he is smarter than everybody else.
LMFAO
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christopera
Stranger


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Re: The Democrat-led destruction of the economy [Re: chopstick]
#27830652 - 06/21/22 04:37 PM (1 year, 10 months ago) |
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Why would I have to pretend when I supply actual sources? The weight of the evidence isn't even on me. I could be a total dolt and if I can assemble some evidence I still am better off than those without evidence.
-------------------- Enjoy the process of your search without succumbing to the pressure of the result. A Dorito is pizza, change my mind. Bank and Union with The Shroomery at the Zuul on The internet - now with %'s and things I’m sorry it had to be me.
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Lynnch
Strangerer



Registered: 04/29/09
Posts: 8,010
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Re: The Democrat-led destruction of the economy [Re: chopstick]
#27830657 - 06/21/22 04:39 PM (1 year, 10 months ago) |
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So you guys think this frothing rage is a downstream reaction to the Jan 6th hearings? Or just a normal mental breakdown?
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chopstick
nobody



Registered: 07/26/08
Posts: 5,252
Loc: Chin's Wok
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Re: The Democrat-led destruction of the economy [Re: Lynnch] 1
#27830735 - 06/21/22 05:30 PM (1 year, 10 months ago) |
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Quote:
Lynnch said: So you guys think this frothing rage is a downstream reaction to the Jan 6th hearings? Or just a normal mental breakdown?
January 6th hearings? Those are happening right now?
Sorry, didn't notice 
On a serious note, anybody who actually watches that has got some serious issues. Hmm, how many of you does that include?
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chopstick
nobody



Registered: 07/26/08
Posts: 5,252
Loc: Chin's Wok
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Re: The Democrat-led destruction of the economy [Re: feevers]
#27830737 - 06/21/22 05:31 PM (1 year, 10 months ago) |
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Quote:
feevers said:
NYpost?
I thought you said that everything MSM says is lies?
So since MSM is all lies then in reality Biden really wants super cheap gas and no electric vehicles? And Joe Biden is a Republican?
This is all so confusing!
Hey man, I think you got some drool on your chin. Might wanna get that cleaned up buddy. Really detracts from the incoherent point you are trying to make.
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Kryptos
Stranger

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Re: The Democrat-led destruction of the economy [Re: Lynnch]
#27830816 - 06/21/22 06:40 PM (1 year, 10 months ago) |
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Quote:
Lynnch said: So you guys think this frothing rage is a downstream reaction to the Jan 6th hearings? Or just a normal mental breakdown?
I'd guess the latter, triggered by the Fox reaction to the former.
Trump blew up his somewhat decent legal defense of "I legitimately though that the election was stolen because I'm dumb" today, so...
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christopera
Stranger


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Re: The Democrat-led destruction of the economy [Re: Kryptos]
#27830842 - 06/21/22 06:56 PM (1 year, 10 months ago) |
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Trumps rally the other day was straight golden shower, just like he enjoys. He is sweating it, not pee, but the hearings.
Nothing will come of it, but it is hilarious how dumb Trump is. Except for him being the dumbest president and people willing to suck his dick and totally not be gay.
-------------------- Enjoy the process of your search without succumbing to the pressure of the result. A Dorito is pizza, change my mind. Bank and Union with The Shroomery at the Zuul on The internet - now with %'s and things I’m sorry it had to be me.
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The Blind Ass
Bodhi


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Posts: 27,994
Loc: The Primordial Mind
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Re: The Democrat-led destruction of the economy [Re: chopstick] 1
#27830862 - 06/21/22 07:06 PM (1 year, 10 months ago) |
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Chopowman, I wish for us to sit down together, share the peace pipe, and reconcile with one another for our own well being & for the sake of the greater good of the shroomery’s political sub forum.
And so without further ado…
At times I have been rude. At times I have been borderline trolly. At times I have been cold. At times I have taunted. At times I have harbored ill will.
I now renounce those for the folly that they are.
Instead, what I can bring to the table instead is this -
I will compose my posts toward you by allowing the following 5 principles to be the tree from which they grow - and applying them in practice to all of our communiques henceforth. Breaking down the abbreviated form these guidelines are basic yet truly based:
T rue H onest I nspired N eccesary K ind
Please accept my humble apology. The truth is I love you and I do not want to fight or drag you down, I want us to be cooperative in all our dealings on the shroomery so that we are setting a good example by being one through living it and as can be recognized by what and how we post.
Rather the view our “opponents” as the “other”, See them as one’s own reflection, As oneself, as one’s brother, as one’s neighbor - As if all was being glimpaws through a mirror darkly.
Lastly, I currently hold a single chopstick in my grasp while writing this to show this is legit opportunity to do the right thing that will pay dividends in the future by helping to encourage discussions capable of positive growth. We have much to teach each other still and so much more to uncover together. So, let’s turn this subforum’s frown upside down!
What say you man !
-------------------- Give me Liberty caps -or- give me Death caps
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Ghost Rider


Registered: 06/11/18
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Re: The Democrat-led destruction of the economy [Re: chopstick] 1
#27830864 - 06/21/22 07:07 PM (1 year, 10 months ago) |
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The weakling don't have to read mean tweets, so I guess it's worth it to them.
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MagicMush123
moon person



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Loc: Chinada
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Re: The Democrat-led destruction of the economy [Re: christopera]
#27830877 - 06/21/22 07:14 PM (1 year, 10 months ago) |
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Wow, we're still bringing up Trump... I wanna say its pathetic, but at this point its just funny
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christopera
Stranger


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Re: The Democrat-led destruction of the economy [Re: MagicMush123]
#27830879 - 06/21/22 07:16 PM (1 year, 10 months ago) |
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His rally and comments were hilarious. If he doesn’t want to be talked about he doesn’t have to hold rallies.
Not sure what you want me to do about it?
-------------------- Enjoy the process of your search without succumbing to the pressure of the result. A Dorito is pizza, change my mind. Bank and Union with The Shroomery at the Zuul on The internet - now with %'s and things I’m sorry it had to be me.
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Kryptos
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Re: The Democrat-led destruction of the economy [Re: MagicMush123]
#27830881 - 06/21/22 07:16 PM (1 year, 10 months ago) |
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Yeah, no, you're not living that one down. That's your guy.
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The Blind Ass
Bodhi


Registered: 08/16/16
Posts: 27,994
Loc: The Primordial Mind
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Re: The Democrat-led destruction of the economy [Re: chopstick]
#27830888 - 06/21/22 07:24 PM (1 year, 10 months ago) |
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-------------------- Give me Liberty caps -or- give me Death caps
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Falcon91Wolvrn03
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Re: The Democrat-led destruction of the economy [Re: MagicMush123]
#27830981 - 06/21/22 08:44 PM (1 year, 10 months ago) |
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Quote:
MagicMush123 said: Wow, we're still bringing up Trump... I wanna say its pathetic, but at this point its just funny
Right now he's favored to win in 2024. I hope we can do better.
https://www.vegasinsider.com/odds/us-presidential-election/
-------------------- I am in a minority on the shroomery, as I frequently defend the opposing side when they have a point about something or when my side make believes something about them. I also attack my side if I think they're wrong. People here get very confused by that and think it means I prefer the other side.
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christopera
Stranger


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Watching him win and get emboldened will be a shining monument in American corruption. We should welcome it.
-------------------- Enjoy the process of your search without succumbing to the pressure of the result. A Dorito is pizza, change my mind. Bank and Union with The Shroomery at the Zuul on The internet - now with %'s and things I’m sorry it had to be me.
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Tulipslave
Homo sapiens sapiens, lol

Registered: 07/25/17
Posts: 11,968
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Re: The Democrat-led destruction of the economy [Re: chopstick]
#27831341 - 06/22/22 06:56 AM (1 year, 10 months ago) |
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So far, no one has been able to explain HOW EXACTLY "Joe Biden is makin' muh gas go up, a-hur"
I'd love to see a fact-based reasoning. Otherwise, it's oil companies, OPEC, and any politicians not actively fighting against what these companies are doing to us via gas prices.
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Tulipslave
Homo sapiens sapiens, lol

Registered: 07/25/17
Posts: 11,968
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Quote:
Falcon91Wolvrn03 said:
Quote:
MagicMush123 said: Wow, we're still bringing up Trump... I wanna say its pathetic, but at this point its just funny
Right now he's favored to win in 2024. I hope we can do better.
https://www.vegasinsider.com/odds/us-presidential-election/
The lady and I have been dreamily talking of moving to Mexico or Italy. If Trump gets elected again, Mexico may be the ticket.
What a world!
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koods
Ribbit



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Re: The Democrat-led destruction of the economy [Re: Tulipslave]
#27831473 - 06/22/22 09:17 AM (1 year, 10 months ago) |
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Biden must be the president of the world because gas prices are even higher in the rest of the world
https://globalnews.ca/news/8899452/gas-prices-canada-vehicle-breakdown/amp/
Quote:
According to Statistics Canada, the average price for regular gasoline in the country was $1.01 per litre in June 2020. It increased to $1.337 in June 2021. On June 6, the average price for regular fuel in Canada was $2.046 per litre, according to CAA.
Canada: 5.86 per gallon US
Prices per gallon
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NotSheekle said “if I believed she was 16 I would become unattracted to her”
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The Ecstatic
Chilldog Extraordinaire


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Re: The Democrat-led destruction of the economy [Re: chopstick]
#27832624 - 06/23/22 07:20 AM (1 year, 10 months ago) |
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Chop, what policies, besides ceding Ukraine to Russian autonomy, should the Democrats pursue to rebuild the strength of the domestic and global economy?
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Falcon91Wolvrn03
Stranger



Registered: 03/16/05
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Re: The Democrat-led destruction of the economy [Re: The Ecstatic]
#27832835 - 06/23/22 11:15 AM (1 year, 10 months ago) |
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Quote:
The Ecstatic said: Chop, what policies, besides ceding Ukraine to Russian autonomy, should the Democrats pursue to rebuild the strength of the domestic and global economy?
"Ceding Ukraine to Russian autonomy"? Russia's hasn't even asked for that. 
I know you asked chop, but my response is to remove the sanctions.
-------------------- I am in a minority on the shroomery, as I frequently defend the opposing side when they have a point about something or when my side make believes something about them. I also attack my side if I think they're wrong. People here get very confused by that and think it means I prefer the other side.
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The Ecstatic
Chilldog Extraordinaire


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You’re right I did ask chop, I’m trying to preempt the “everything in the world revolves around Biden’s position on Ukraine” argument that will inevitably take over this thread.
--------------------
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chopstick
nobody



Registered: 07/26/08
Posts: 5,252
Loc: Chin's Wok
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Re: The Democrat-led destruction of the economy [Re: The Ecstatic] 2
#27833067 - 06/23/22 01:52 PM (1 year, 10 months ago) |
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Quote:
The Ecstatic said: Chop, what policies, besides ceding Ukraine to Russian autonomy, should the Democrats pursue to rebuild the strength of the domestic and global economy?
As Falcon mentioned, it's not about ceding autonomy, it's about lifting the fruitless and destructive sanctions on Russia. The truth is that we relied on them for oil, fertilizer, and wheat - all very important basic resources for the survival of a nation. Now the prices of all these things have skyrocketed as we seek out more expensive suppliers. This puts the hurt on just about everybody. Farmers especially are facing such high costs that a lot of them are going out of business.
Biden needs to reverse his policies on the oil & gas sector and reapprove the Keystone XL pipeline. Actually take meaningful steps to reduce gas prices by ramping up domestic production. He needs to do something to address the ongoing diesel shortages. Instead he is talking about how it's an "incredible transition" to green energy, which makes no sense. The infrastructure is not in place for a full switch to renewable energy and most Americans don't have money to buy an electric vehicle anyway. Most of them get pissed off when it's even suggested as being a solution.
But more importantly, he needs to address inflation. This isn't really possible without the war in Ukraine ending or the gov't halting almost all spending. But instead of pushing for either of these they came close to making it significantly worse with the "build back better" bill. If that had passed, inflation would be even higher.
At any rate, he is not interested in doing any of these things. High gas prices and inflation are both fully intended by his administration. They want you poor, broke and desperate to assist with "transitioning" to whatever larger agenda and societal changes they have planned down the road. Funny they didn't ask Americans what they thought about being intentionally bankrupted for the agenda of the Democratic party.
Quote:
The Ecstatic said:You’re right I did ask chop, I’m trying to preempt the “everything in the world revolves around Biden’s position on Ukraine” argument that will inevitably take over this thread.
The world economy will never return to "normal" until the war is over. Of course it's the Europeans and other poor third world countries being hurt the most by it, but it still affects us significantly.
I understand you'd like to downplay it, but Biden's admin, along with the last Democrat admin, pushed for this war and they are responsible for the consequences. Luckily Americans are realizing this and the longer the economy goes downhill, the worse future elections will be for Democrats.
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koods
Ribbit



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Re: The Democrat-led destruction of the economy [Re: chopstick] 1
#27833111 - 06/23/22 02:32 PM (1 year, 10 months ago) |
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The US doesn’t rely on Russia for oil or wheat. The US can produce enough fossil fuels to satisfy our own demand.
--------------------
NotSheekle said “if I believed she was 16 I would become unattracted to her”
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koods
Ribbit



Registered: 05/26/11
Posts: 107,128
Loc: Maryland/DC Burbs
Last seen: 4 minutes, 44 seconds
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Re: The Democrat-led destruction of the economy [Re: koods]
#27833117 - 06/23/22 02:36 PM (1 year, 10 months ago) |
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Quote:
At any rate, he is not interested in doing any of these things. High gas prices and inflation are both fully intended by his administration. They want you poor, broke and desperate to assist with "transitioning" to whatever larger agenda and societal changes they have planned down the road.
You sound like a crazy person
--------------------
NotSheekle said “if I believed she was 16 I would become unattracted to her”
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chopstick
nobody



Registered: 07/26/08
Posts: 5,252
Loc: Chin's Wok
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Re: The Democrat-led destruction of the economy [Re: koods] 1
#27833172 - 06/23/22 03:24 PM (1 year, 10 months ago) |
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Quote:
koods said: The US doesn’t rely on Russia for oil or wheat. The US can produce enough fossil fuels to satisfy our own demand.
we were only temporarily energy independent during Trump, that ended quickly after Biden took office
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koods said:
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At any rate, he is not interested in doing any of these things. High gas prices and inflation are both fully intended by his administration. They want you poor, broke and desperate to assist with "transitioning" to whatever larger agenda and societal changes they have planned down the road.
You sound like a crazy person
It's true. Also you are not fit to judge who is crazy or not, lol
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Kryptos
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Re: The Democrat-led destruction of the economy [Re: chopstick] 1
#27833177 - 06/23/22 03:29 PM (1 year, 10 months ago) |
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chopstick said: Actually take meaningful steps to reduce gas prices by ramping up domestic production.
So, if domestic producers refuse to increase production, should Biden start nationalizing them?
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Given these prospects, Halliburton appears fully valued, although there may be further upside if large price increases can be pushed onto customers. There is also significant downside risk if the war in Ukraine is resolved sooner than expected, or the global economy enters a recession.
Haliburton, one of the largest owners of oilfield tech, right now is worried that their stock prices might stagnate if they can't raise prices further, or if the war ends, or if the economy crashes.
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This is also likely to drive investment towards short-cycle barrels. This should mean the prioritization of development over exploration, tiebacks over new infrastructure and shale over deepwater. Halliburton should benefit from this as more CapEx will be directed towards wellbore services rather than infrastructure, and completions and production rather than drilling and evaluation.
See, the problem with spending money on infrastructure is that more production would cause gas prices to go down, which lowers the profit margins that the oil companies are currently earning. So why would they ever ramp up production? Especially when you're blaming Biden for it instead of them!
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Kryptos
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Re: The Democrat-led destruction of the economy [Re: chopstick]
#27833179 - 06/23/22 03:30 PM (1 year, 10 months ago) |
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Quote:
chopstick said:
Quote:
koods said: The US doesn’t rely on Russia for oil or wheat. The US can produce enough fossil fuels to satisfy our own demand.
we were only temporarily energy independent during Trump, that ended quickly after Biden took office
False, on both counts. We were not energy independent under Trump, and we are still currently energy independent under Biden.
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koods
Ribbit



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Re: The Democrat-led destruction of the economy [Re: Kryptos]
#27833181 - 06/23/22 03:32 PM (1 year, 10 months ago) |
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It’s a perfect situation for oil companies. They don’t have to work as hard. They make record profits and the democrats get blamed
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NotSheekle said “if I believed she was 16 I would become unattracted to her”
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Kryptos
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Re: The Democrat-led destruction of the economy [Re: koods]
#27833189 - 06/23/22 03:36 PM (1 year, 10 months ago) |
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Pretty perfect situation for damn near all companies, actually. Especially with the amount of market share nowadays. Pretty much 90% of the goods any given person consumes in the US is provided by like, 3-4 companies. They control the market, they dictate prices, and they're all making record profits.
And Biden gets blamed, because the GOP unanimously voted down making price gouging illegal.
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koods
Ribbit



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Re: The Democrat-led destruction of the economy [Re: Kryptos]
#27833201 - 06/23/22 03:45 PM (1 year, 10 months ago) |
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The irony is that one of the reasons why there is a mismatch between supply and demand is that the economy has recovered from covid much faster than expected and demand is already past prepandemic level while supply has been slow to ramp back up
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NotSheekle said “if I believed she was 16 I would become unattracted to her”
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chopstick
nobody



Registered: 07/26/08
Posts: 5,252
Loc: Chin's Wok
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Re: The Democrat-led destruction of the economy [Re: Kryptos]
#27833220 - 06/23/22 04:05 PM (1 year, 10 months ago) |
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Quote:
Kryptos said:
See, the problem with spending money on infrastructure is that more production would cause gas prices to go down, which lowers the profit margins that the oil companies are currently earning. So why would they ever ramp up production? Especially when you're blaming Biden for it instead of them!
Oil prices went up thanks primarily to his sanctions on Russia, and the fact that Biden nixed Keystone XL, along with a few other things: https://clashdaily.com/2021/08/biden-has-shut-down-u-s-oil-production-for-six-months-now-hes-asking-opec-to-pump-more/
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It began immediately after his inauguration when, with a stroke of a pen, he nixed completion of the Keystone XL pipeline via Executive Order. He did this to “protect public health and the environment” and restore “science” in order to “tackle the Climate Crisis.” Ironically, the Keystone XL would have been the world’s first zero-emission energy pipeline.
Womp, womp.
But that’s not all that Biden has done to undermine America’s energy independence.
In the same Executive Order on Day 1, Biden placed a “temporary” ban on drilling in ANWR which would have increased the use of the Alaskan pipeline.
He also halted energy development on federal land and shut down the 80 million-acre oil lease sale putting the Louisiana oil and gas industry in danger.
The result has been skyrocketing gas prices.
The first thing that will happen when Trump re-takes office is that gas prices will start plummeting.
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koods
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Re: The Democrat-led destruction of the economy [Re: chopstick]
#27833257 - 06/23/22 04:30 PM (1 year, 10 months ago) |
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The keystone pipeline has nothing to do with current prices. The project wouldn’t have been finished for years to come and it pumps CANADIAN oil to texas for export. God damn, son. How fucking ignorant are you?
If anything canceling Keystone is a benefit to American producers because keystone would have lowered the costs for Canadian producers while doing nothing to benefit American producers
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NotSheekle said “if I believed she was 16 I would become unattracted to her”
Edited by koods (06/23/22 04:40 PM)
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koods
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Re: The Democrat-led destruction of the economy [Re: koods]
#27833262 - 06/23/22 04:32 PM (1 year, 10 months ago) |
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Quote:
The first thing that will happen when Trump re-takes office is that gas prices will start plummeting.
Right. Due to another Trump recession
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NotSheekle said “if I believed she was 16 I would become unattracted to her”
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chopstick
nobody



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Loc: Chin's Wok
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Re: The Democrat-led destruction of the economy [Re: koods] 1
#27833273 - 06/23/22 04:39 PM (1 year, 10 months ago) |
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koods said: The keystone pipeline has nothing to do with current prices. The project wouldn’t have been finished for years to come and it pumps CANADIAN oil to texas for export. God damn, son. How fucking ignorant are you?
That wasn't the only thing he did. And at any rate, eliminating Keystone XL caused thousands of potential jobs to be eliminated. This still has a negative effect on the economy. Why are you always so irrationally angry?
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koods said:
Quote:
The first thing that will happen when Trump re-takes office is that gas prices will start plummeting.
Right. Due to another Trump recession
sure man..
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koods
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Re: The Democrat-led destruction of the economy [Re: chopstick]
#27833281 - 06/23/22 04:48 PM (1 year, 10 months ago) |
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Quote:
That wasn't the only thing he did. And at any rate, eliminating Keystone XL caused thousands of potential jobs to be eliminated. This still has a negative effect on the economy.
Those workers are now available to work existing oil fields and boost supply
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NotSheekle said “if I believed she was 16 I would become unattracted to her”
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DoneKildatReason
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Re: The Democrat-led destruction of the economy [Re: koods] 1
#27833571 - 06/23/22 07:53 PM (1 year, 10 months ago) |
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Quote:
That wasn't the only thing he did.
True. Here are a few others

-------------------- This was an experiment.
Edited by DoneKildatReason (06/23/22 07:56 PM)
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christopera
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Thousands of jobs are like a drop in the bucket. Also, 3 of the 4 phases of Keystone XL were completed, I am sure Chop doesn't know that. The only phase that wasn't finished was phase 4.
Also, the fourth phase only delivers Canadian crude. Oh boy, that sweet, sweet, foreign crude. And on top of that the 4th phase just bypasses an already existing pipeline, so that crude is still getting delivered.
Lots of confusion around this one.
Of course the price of gasoline is hardly something a president can control, since you know, capitalism, private industry, all that shit.
-------------------- Enjoy the process of your search without succumbing to the pressure of the result. A Dorito is pizza, change my mind. Bank and Union with The Shroomery at the Zuul on The internet - now with %'s and things I’m sorry it had to be me.
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Lynnch
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Re: The Democrat-led destruction of the economy [Re: christopera]
#27833696 - 06/23/22 09:14 PM (1 year, 10 months ago) |
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I feel like I shared this recently, but here goes again. The U.S. has five years of proven oil reserves left at current consumption. 5. not 500, not 50, -5- Maybe we can start up some *expensive* shale oil extraction, but the truth of the matter is, oil is a finite resource. The party is over. If you really care about being energy independent, then you should support the switch to green energy.
Also, 'zero-emission pipeline' ...that transports... oil... which then gets.. burnt..... lmfao
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Kryptos
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Re: The Democrat-led destruction of the economy [Re: chopstick]
#27833754 - 06/23/22 10:03 PM (1 year, 10 months ago) |
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Quote:
chopstick said:
Quote:
Kryptos said:
See, the problem with spending money on infrastructure is that more production would cause gas prices to go down, which lowers the profit margins that the oil companies are currently earning. So why would they ever ramp up production? Especially when you're blaming Biden for it instead of them!
Oil prices went up thanks primarily to his sanctions on Russia, and the fact that Biden nixed Keystone XL, along with a few other things: https://clashdaily.com/2021/08/biden-has-shut-down-u-s-oil-production-for-six-months-now-hes-asking-opec-to-pump-more/
Quote:
It began immediately after his inauguration when, with a stroke of a pen, he nixed completion of the Keystone XL pipeline via Executive Order. He did this to “protect public health and the environment” and restore “science” in order to “tackle the Climate Crisis.” Ironically, the Keystone XL would have been the world’s first zero-emission energy pipeline.
Womp, womp.
But that’s not all that Biden has done to undermine America’s energy independence.
In the same Executive Order on Day 1, Biden placed a “temporary” ban on drilling in ANWR which would have increased the use of the Alaskan pipeline.
He also halted energy development on federal land and shut down the 80 million-acre oil lease sale putting the Louisiana oil and gas industry in danger.
The result has been skyrocketing gas prices.
The first thing that will happen when Trump re-takes office is that gas prices will start plummeting.
Oil prices for WTI crude at the moment of this post, because that's what loaded first: 104$/barrel. Brent is 109$ Average US gas prices: $4.94
In 2012: Brent crude prices, $111 per barrel. Avg US gas price $3.60
Crack spread 2012, ~11$, that's the difference in price between a barrel of crude and a refined barrel of crude...basically, the refinery profit margin.
Crack spread right now: 52$.
Refineries are making 500% profits this year. Oil prices are about 100$/barrel, that's the low side of average. 80 is low, 150 is high. It has nothing to do with oil or oil supply.
But hey, if you're invested in Exxon, for example, your stock has almost doubled since January.
And it will continue to grow, because Haliburton owns basically all of the oil rigs. If you want to buy an oil rig to drill a well, you buy it from haliburton. And as I mentioned before, haliburton is no longer interested in selling new rigs. They don't want to drive down the price of oil.
If gas prices drop, gas prices will drop for exactly one reason: The wall street oil commodity traders figure out a way to make a profit by lowering the price of gas. Or a recession forces them to drop prices.
Edited by Kryptos (06/23/22 10:08 PM)
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koods
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Re: The Democrat-led destruction of the economy [Re: Kryptos]
#27833793 - 06/23/22 10:55 PM (1 year, 10 months ago) |
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Capitalism run amok
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NotSheekle said “if I believed she was 16 I would become unattracted to her”
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The Ecstatic
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Registered: 11/11/09
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Re: The Democrat-led destruction of the economy [Re: koods]
#27833901 - 06/24/22 01:45 AM (1 year, 10 months ago) |
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Quote:
koods said:
Quote:
At any rate, he is not interested in doing any of these things. High gas prices and inflation are both fully intended by his administration. They want you poor, broke and desperate to assist with "transitioning" to whatever larger agenda and societal changes they have planned down the road.
You sound like a crazy person
The Federal Reserve literally said last week that their goal is to drive up unemployment.
Over 50 years of systematically dismantling our paltry social safety net and now literally advocating for millions to lose their jobs as official public policy, not sure how you keep going with “they have our best interests in mind” but
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The Ecstatic
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Re: The Democrat-led destruction of the economy [Re: chopstick] 1
#27833906 - 06/24/22 02:06 AM (1 year, 10 months ago) |
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chopstick said:
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The Ecstatic said: Chop, what policies, besides ceding Ukraine to Russian autonomy, should the Democrats pursue to rebuild the strength of the domestic and global economy?
As Falcon mentioned, it's not about ceding autonomy, it's about lifting the fruitless and destructive sanctions on Russia. The truth is that we relied on them for oil, fertilizer, and wheat - all very important basic resources for the survival of a nation. Now the prices of all these things have skyrocketed as we seek out more expensive suppliers. This puts the hurt on just about everybody. Farmers especially are facing such high costs that a lot of them are going out of business.
Biden needs to reverse his policies on the oil & gas sector and reapprove the Keystone XL pipeline. Actually take meaningful steps to reduce gas prices by ramping up domestic production. He needs to do something to address the ongoing diesel shortages. Instead he is talking about how it's an "incredible transition" to green energy, which makes no sense. The infrastructure is not in place for a full switch to renewable energy and most Americans don't have money to buy an electric vehicle anyway. Most of them get pissed off when it's even suggested as being a solution.
But more importantly, he needs to address inflation. This isn't really possible without the war in Ukraine ending or the gov't halting almost all spending. But instead of pushing for either of these they came close to making it significantly worse with the "build back better" bill. If that had passed, inflation would be even higher.
At any rate, he is not interested in doing any of these things. High gas prices and inflation are both fully intended by his administration. They want you poor, broke and desperate to assist with "transitioning" to whatever larger agenda and societal changes they have planned down the road. Funny they didn't ask Americans what they thought about being intentionally bankrupted for the agenda of the Democratic party.
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The Ecstatic said:You’re right I did ask chop, I’m trying to preempt the “everything in the world revolves around Biden’s position on Ukraine” argument that will inevitably take over this thread.
The world economy will never return to "normal" until the war is over. Of course it's the Europeans and other poor third world countries being hurt the most by it, but it still affects us significantly.
I understand you'd like to downplay it, but Biden's admin, along with the last Democrat admin, pushed for this war and they are responsible for the consequences. Luckily Americans are realizing this and the longer the economy goes downhill, the worse future elections will be for Democrats.
I will grant you that food and energy prices regarding Russia has sent a ripple effect across the globe, although inflation was an issue long before February of this year.
As far as Biden’s oil policy, what more do you want? He’s approved more drilling permits than trump, he’s opened up strategic reserves, he softened the official stance on Venezuela, he’s going to Saudi Arabia (reversing his campaign pledge of outing them as a pariah), he’s considering a gas tax holiday, he’s done nothing to advance a green agenda (to his own party’s electoral detriment). Not everything has to do with Russia dude, Biden is incredibly pro using oil. Not even going to address the keystone xl thing because it’s a meme at this point, no serious person is pointing to it as a way to alleviate inflation.
Now I have to address “halt basically all government spending” because lol. For someone who sees the affects that macro policy decisions can have on the global economy, this seems short sighted, and almost like you don’t really have an answer at all besides [boilerplate GOP talking point that they themselves don’t even believe or adhere to]. The rules of Keynesian economics that virtually every country plays by (including Russia) means that public spending is a necessary driver of economic activity, we can’t just not do that without causing a depression. But I guess a depression would drive down prices.
Yes, Biden and the Democrats have no serious plan to help the working class because that isn’t what they’re in power to do. But, and here’s where you veer off the path, the answer is not to be even more right wing.
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christopera
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Re: The Democrat-led destruction of the economy [Re: The Ecstatic] 1
#27833938 - 06/24/22 04:30 AM (1 year, 10 months ago) |
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Domestic production isn't what many think it is. We (US) simply do not have the oil reserves to replace the places we import crude from, even with more drilling we will never have the crude to be independent. And of course, nobody in the US oil industry would want to be independent, why would they be interested in selling oil at lower prices? That is, after all, what people think of when they think of being independent. So unless the US government seizes the means of manufacture, we won't see any meaningful advances towards lower prices that aren't dictated solely by the market itself.
We however have many refinery's, which is what we mean when we say "domestic production." We import foreign crude, we refine it. Even if we refine more crude that doesn't magically change the price of crude, in fact, it would probably raise the price at least for a while. And of course these prices aren't based on domestic consumption, so we'd have to produce like 30% of the worlds crude instantaneously to drop the price, and if we had that crude you can bet we would already be pumping it. Additionally, the US is already a net petroleum exporter, but that is because we are refining and selling petroleum products and selling them abroad. It has nothing to do with having too much oil.
The entire ramping up domestic production and reducing the price of gas argument is not based in reality. It's a talking point because it sells well to certain demographics and enriches politicians and a few companies, it has zero bearing on the population at large.
-------------------- Enjoy the process of your search without succumbing to the pressure of the result. A Dorito is pizza, change my mind. Bank and Union with The Shroomery at the Zuul on The internet - now with %'s and things I’m sorry it had to be me.
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Brian Jones
Club 27



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Re: The Democrat-led destruction of the economy [Re: Kryptos]
#27833945 - 06/24/22 04:50 AM (1 year, 10 months ago) |
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Quote:
Kryptos said:
Quote:
chopstick said:
Quote:
koods said: The US doesn’t rely on Russia for oil or wheat. The US can produce enough fossil fuels to satisfy our own demand.
we were only temporarily energy independent during Trump, that ended quickly after Biden took office
False, on both counts. We were not energy independent under Trump, and we are still currently energy independent under Biden.
Yes, energy independence is a very misleading claim, and can be defined many different ways. We produce more energy than we consume currently.
-------------------- "The Rolling Stones will break up over Brian Jones' dead body" John Lennon I don't want no commies in my car. No Christians either. The worst thing about corruption is that it works so well,
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The Ecstatic
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Re: The Democrat-led destruction of the economy [Re: Brian Jones] 1
#27834351 - 06/24/22 11:23 AM (1 year, 10 months ago) |
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Folks need to believe that the US can produce everything we need on our own, lest they accept the grim reality that their lifestyle is sustained by exploitation and subjugation abroad.
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