Anyone see 2000 mules yet? I know I’m looking forward to it!
I seem like the fool since I voted for Biden and it’s certainly destroying my savings
Which policy do you think did that?
Oh that’s right. I forgot dems are just victims of circumstance. How about the extra payments to everyone that didn’t need them? It’s freakin nuts that we can’t find a freakin leader or party that lets everyone be themselves at home and stops fucking around with other peoples $
So the first two stimulus and PPP had no effect on your savings, but the last one did. Makes sense.
You can say, oh blah blah better than Trump, but elections are choices. You had three of them. Biden, Trump or stay home. You can whine and complain about your choices but that doesn't change them. And if you think that the Feb stimulus is why oil is $109 a barrel, then you should go back to watching pillow commercials and how to stop the steal.
They all did. I said as much, then Biden have even more $ away.
Seriously…pillows and stop the steal? If that is all you got…. Such a stupid response
Hey man, do you think that's why oil is $109? It's just about as silly as blaming inflation on the last stimulus, but it's even more obvious. You have made no argument as to how the Feb stimulus is the cause for inflation, yet you blame Biden and that's the policy you pointed to. That's the stupid argument right there. It's the Fox News argument that has no empirical basis. Come back with something rooted in data and then we can go from there.
I have no interest in talking with you at all. You went straight to my pillow and stop the steal.
Anyone see 2000 mules yet? I know I’m looking forward to it!
I seem like the fool since I voted for Biden and it’s certainly destroying my savings
Which policy do you think did that?
Oh that’s right. I forgot dems are just victims of circumstance. How about the extra payments to everyone that didn’t need them? It’s freakin nuts that we can’t find a freakin leader or party that lets everyone be themselves at home and stops fucking around with other peoples $
So the first two stimulus and PPP had no effect on your savings, but the last one did. Makes sense.
You can say, oh blah blah better than Trump, but elections are choices. You had three of them. Biden, Trump or stay home. You can whine and complain about your choices but that doesn't change them. And if you think that the Feb stimulus is why oil is $109 a barrel, then you should go back to watching pillow commercials and how to stop the steal.
They all did. I said as much, then Biden have even more $ away.
Seriously…pillows and stop the steal? If that is all you got…. Such a stupid response
Hey man, do you think that's why oil is $109? It's just about as silly as blaming inflation on the last stimulus, but it's even more obvious. You have made no argument as to how the Feb stimulus is the cause for inflation, yet you blame Biden and that's the policy you pointed to. That's the stupid argument right there. It's the Fox News argument that has no empirical basis. Come back with something rooted in data and then we can go from there.
I have no interest in talking with you at all. You went straight to my pillow and stop the steal.
Sorry I wounded you. Does that mean you do think Biden is the reason gas is so expensive?
Anyone see 2000 mules yet? I know I’m looking forward to it!
I seem like the fool since I voted for Biden and it’s certainly destroying my savings
Which policy do you think did that?
Oh that’s right. I forgot dems are just victims of circumstance. How about the extra payments to everyone that didn’t need them? It’s freakin nuts that we can’t find a freakin leader or party that lets everyone be themselves at home and stops fucking around with other peoples $
So the first two stimulus and PPP had no effect on your savings, but the last one did. Makes sense.
You can say, oh blah blah better than Trump, but elections are choices. You had three of them. Biden, Trump or stay home. You can whine and complain about your choices but that doesn't change them. And if you think that the Feb stimulus is why oil is $109 a barrel, then you should go back to watching pillow commercials and how to stop the steal.
They all did. I said as much, then Biden have even more $ away.
Seriously…pillows and stop the steal? If that is all you got…. Such a stupid response
Hey man, do you think that's why oil is $109? It's just about as silly as blaming inflation on the last stimulus, but it's even more obvious. You have made no argument as to how the Feb stimulus is the cause for inflation, yet you blame Biden and that's the policy you pointed to. That's the stupid argument right there. It's the Fox News argument that has no empirical basis. Come back with something rooted in data and then we can go from there.
I have no interest in talking with you at all. You went straight to my pillow and stop the steal.
Sorry I wounded you. Does that mean you do think Biden is the reason gas is so expensive?
My only thought is would people be so “it’s not the presidents fault” during the last year if Trump was in office? That’s not me blaming Biden. It is BAD right now yet the Trump thread has more action than this one. It just feels like people have a real problem being critical sometimes of their “team”.
Every time I order something for my store it’s up 28-70%. I honestly don’t know how people are surviving right now. Do you see this getting better anytime soon? I can’t remember ever getting a notice from my vendors that there is an upcoming decrease on prices. Is this the new norm? Something as simple as a tube of silicone that sold for 5.99 is now 8.99.
Anyone see 2000 mules yet? I know I’m looking forward to it!
I seem like the fool since I voted for Biden and it’s certainly destroying my savings
Which policy do you think did that?
Oh that’s right. I forgot dems are just victims of circumstance. How about the extra payments to everyone that didn’t need them? It’s freakin nuts that we can’t find a freakin leader or party that lets everyone be themselves at home and stops fucking around with other peoples $
So the first two stimulus and PPP had no effect on your savings, but the last one did. Makes sense.
You can say, oh blah blah better than Trump, but elections are choices. You had three of them. Biden, Trump or stay home. You can whine and complain about your choices but that doesn't change them. And if you think that the Feb stimulus is why oil is $109 a barrel, then you should go back to watching pillow commercials and how to stop the steal.
They all did. I said as much, then Biden have even more $ away.
Seriously…pillows and stop the steal? If that is all you got…. Such a stupid response
Hey man, do you think that's why oil is $109? It's just about as silly as blaming inflation on the last stimulus, but it's even more obvious. You have made no argument as to how the Feb stimulus is the cause for inflation, yet you blame Biden and that's the policy you pointed to. That's the stupid argument right there. It's the Fox News argument that has no empirical basis. Come back with something rooted in data and then we can go from there.
I have no interest in talking with you at all. You went straight to my pillow and stop the steal.
Sorry I wounded you. Does that mean you do think Biden is the reason gas is so expensive?
My only thought is would people be so “it’s not the presidents fault” during the last year if Trump was in office? That’s not me blaming Biden. It is BAD right now yet the Trump thread has more action than this one. It just feels like people have a real problem being critical sometimes of their “team”.
Every time I order something for my store it’s up 28-70%. I honestly don’t know how people are surviving right now. Do you see this getting better anytime soon? I can’t remember ever getting a notice from my vendors that there is an upcoming decrease on prices. Is this the new norm? Something as simple as a tube of silicone that sold for 5.99 is now 8.99.
I'm old enough and studied enough economics and watched the cyclical nature of the market to know that the president has little influence on the broader market. So to your question as to whether I would blame Trump, no. I would not. I do and have been critical of the 2017 tax cuts because they ballooned the deficit and did not increase GDP at all. That's on him because he and the Rs sold it that way.
BTW, inflation decreased last month. This just hit the wire. Inflation is almost all driven by energy costs. Everything trickles from there. Until the war is over, I don't see how energy comes down materially, therefore prices likely won't either.
Anyone see 2000 mules yet? I know I’m looking forward to it!
I seem like the fool since I voted for Biden and it’s certainly destroying my savings
Which policy do you think did that?
Oh that’s right. I forgot dems are just victims of circumstance. How about the extra payments to everyone that didn’t need them? It’s freakin nuts that we can’t find a freakin leader or party that lets everyone be themselves at home and stops fucking around with other peoples $
So the first two stimulus and PPP had no effect on your savings, but the last one did. Makes sense.
You can say, oh blah blah better than Trump, but elections are choices. You had three of them. Biden, Trump or stay home. You can whine and complain about your choices but that doesn't change them. And if you think that the Feb stimulus is why oil is $109 a barrel, then you should go back to watching pillow commercials and how to stop the steal.
They all did. I said as much, then Biden have even more $ away.
Seriously…pillows and stop the steal? If that is all you got…. Such a stupid response
Hey man, do you think that's why oil is $109? It's just about as silly as blaming inflation on the last stimulus, but it's even more obvious. You have made no argument as to how the Feb stimulus is the cause for inflation, yet you blame Biden and that's the policy you pointed to. That's the stupid argument right there. It's the Fox News argument that has no empirical basis. Come back with something rooted in data and then we can go from there.
I have no interest in talking with you at all. You went straight to my pillow and stop the steal.
Sorry I wounded you. Does that mean you do think Biden is the reason gas is so expensive?
My only thought is would people be so “it’s not the presidents fault” during the last year if Trump was in office? That’s not me blaming Biden. It is BAD right now yet the Trump thread has more action than this one. It just feels like people have a real problem being critical sometimes of their “team”.
Every time I order something for my store it’s up 28-70%. I honestly don’t know how people are surviving right now. Do you see this getting better anytime soon? I can’t remember ever getting a notice from my vendors that there is an upcoming decrease on prices. Is this the new norm? Something as simple as a tube of silicone that sold for 5.99 is now 8.99.
I'm old enough and studied enough economics and watched the cyclical nature of the market to know that the president has little influence on the broader market. So to your question as to whether I would blame Trump, no. I would not. I do and have been critical of the 2017 tax cuts because they ballooned the deficit and did not increase GDP at all. That's on him because he and the Rs sold it that way.
BTW, inflation decreased last month. This just hit the wire. Inflation is almost all driven by energy costs. Everything trickles from there. Until the war is over, I don't see how energy comes down materially, therefore prices likely won't either.
I always appreciate your responses and your insight.
0
Options
mickeyrat
up my ass, like Chadwick was up his Posts: 35,688
Anyone see 2000 mules yet? I know I’m looking forward to it!
I seem like the fool since I voted for Biden and it’s certainly destroying my savings
Which policy do you think did that?
Oh that’s right. I forgot dems are just victims of circumstance. How about the extra payments to everyone that didn’t need them? It’s freakin nuts that we can’t find a freakin leader or party that lets everyone be themselves at home and stops fucking around with other peoples $
So the first two stimulus and PPP had no effect on your savings, but the last one did. Makes sense.
You can say, oh blah blah better than Trump, but elections are choices. You had three of them. Biden, Trump or stay home. You can whine and complain about your choices but that doesn't change them. And if you think that the Feb stimulus is why oil is $109 a barrel, then you should go back to watching pillow commercials and how to stop the steal.
They all did. I said as much, then Biden have even more $ away.
Seriously…pillows and stop the steal? If that is all you got…. Such a stupid response
Hey man, do you think that's why oil is $109? It's just about as silly as blaming inflation on the last stimulus, but it's even more obvious. You have made no argument as to how the Feb stimulus is the cause for inflation, yet you blame Biden and that's the policy you pointed to. That's the stupid argument right there. It's the Fox News argument that has no empirical basis. Come back with something rooted in data and then we can go from there.
I have no interest in talking with you at all. You went straight to my pillow and stop the steal.
Sorry I wounded you. Does that mean you do think Biden is the reason gas is so expensive?
My only thought is would people be so “it’s not the presidents fault” during the last year if Trump was in office? That’s not me blaming Biden. It is BAD right now yet the Trump thread has more action than this one. It just feels like people have a real problem being critical sometimes of their “team”.
Every time I order something for my store it’s up 28-70%. I honestly don’t know how people are surviving right now. Do you see this getting better anytime soon? I can’t remember ever getting a notice from my vendors that there is an upcoming decrease on prices. Is this the new norm? Something as simple as a tube of silicone that sold for 5.99 is now 8.99.
maybe it is the new norm. we'll see. the dumbest shit randomly disappears from grocery store shelves. only to reappear weeks later. supply chain disruptions arent a joke. see this is where capitalism is most felt. demand is greater than supply right now. folks are earning higher wages(a good thing imo), have more cash to spend and boom not enough supply coupled with no more restrictions due to covid.
this in conjunction with so much of our goods coming from china (and elsewhere)as they continue to grapple with outbreaks and shutdowns. which are happening in their manufacturing cities. 10 million plus people per city.....
Add in all those damn immigrants documented or not , not stealing all the unfilled jobs right now......
This leads to another question, have prices been artificailly low BECAUSE of our reliance on China for supply? Been hearing for a long time how costs WILL go up when we make more here at home. Add in fuel costs for diesel with OPEC not increasing output.
I work for a midwestern regional ltl trucking company. our terminals sales staff has been confined to the office since covid and after. NO NEW BUSINESS because drivers are hard to come by(we are very selective in who we hire) and we are in a new truck shortage industrywide( due to parts and chips) . We are now sending our old units out for engine replacement(smart move) and other critical components for $50K with tractors that are still highly servicable. New trucks come in at around $150K . This is happening at the 900k mile range. we'll get another 400 to 500k miles before we sell them.
Things WILL settle. eventually. what it looks like on the back end, who knows.
Not today Sir, Probably not tomorrow.............................................. bayfront arena st. pete '94
you're finally here and I'm a mess................................................... nationwide arena columbus '10
memories like fingerprints are slowly raising.................................... first niagara center buffalo '13
another man ..... moved by sleight of hand...................................... joe louis arena detroit '14
Anyone see 2000 mules yet? I know I’m looking forward to it!
I seem like the fool since I voted for Biden and it’s certainly destroying my savings
Which policy do you think did that?
Oh that’s right. I forgot dems are just victims of circumstance. How about the extra payments to everyone that didn’t need them? It’s freakin nuts that we can’t find a freakin leader or party that lets everyone be themselves at home and stops fucking around with other peoples $
So the first two stimulus and PPP had no effect on your savings, but the last one did. Makes sense.
You can say, oh blah blah better than Trump, but elections are choices. You had three of them. Biden, Trump or stay home. You can whine and complain about your choices but that doesn't change them. And if you think that the Feb stimulus is why oil is $109 a barrel, then you should go back to watching pillow commercials and how to stop the steal.
They all did. I said as much, then Biden have even more $ away.
Seriously…pillows and stop the steal? If that is all you got…. Such a stupid response
Hey man, do you think that's why oil is $109? It's just about as silly as blaming inflation on the last stimulus, but it's even more obvious. You have made no argument as to how the Feb stimulus is the cause for inflation, yet you blame Biden and that's the policy you pointed to. That's the stupid argument right there. It's the Fox News argument that has no empirical basis. Come back with something rooted in data and then we can go from there.
I have no interest in talking with you at all. You went straight to my pillow and stop the steal.
Sorry I wounded you. Does that mean you do think Biden is the reason gas is so expensive?
My only thought is would people be so “it’s not the presidents fault” during the last year if Trump was in office? That’s not me blaming Biden. It is BAD right now yet the Trump thread has more action than this one. It just feels like people have a real problem being critical sometimes of their “team”.
Every time I order something for my store it’s up 28-70%. I honestly don’t know how people are surviving right now. Do you see this getting better anytime soon? I can’t remember ever getting a notice from my vendors that there is an upcoming decrease on prices. Is this the new norm? Something as simple as a tube of silicone that sold for 5.99 is now 8.99.
maybe it is the new norm. we'll see. the dumbest shit randomly disappears from grocery store shelves. only to reappear weeks later. supply chain disruptions arent a joke. see this is where capitalism is most felt. demand is greater than supply right now. folks are earning higher wages(a good thing imo), have more cash to spend and boom not enough supply coupled with no more restrictions due to covid.
this in conjunction with so much of our goods coming from china (and elsewhere)as they continue to grapple with outbreaks and shutdowns. which are happening in their manufacturing cities. 10 million plus people per city.....
Add in all those damn immigrants documented or not , not stealing all the unfilled jobs right now......
This leads to another question, have prices been artificailly low BECAUSE of our reliance on China for supply? Been hearing for a long time how costs WILL go up when we make more here at home. Add in fuel costs for diesel with OPEC not increasing output.
I work for a midwestern regional ltl trucking company. our terminals sales staff has been confined to the office since covid and after. NO NEW BUSINESS because drivers are hard to come by(we are very selective in who we hire) and we are in a new truck shortage industrywide( due to parts and chips) . We are now sending our old units out for engine replacement(smart move) and other critical components for $50K with tractors that are still highly servicable. New trucks come in at around $150K . This is happening at the 900k mile range. we'll get another 400 to 500k miles before we sell them.
Things WILL settle. eventually. what it looks like on the back end, who knows.
Interesting. Thank you for the post.
0
Options
mickeyrat
up my ass, like Chadwick was up his Posts: 35,688
Anyone see 2000 mules yet? I know I’m looking forward to it!
I seem like the fool since I voted for Biden and it’s certainly destroying my savings
Which policy do you think did that?
Oh that’s right. I forgot dems are just victims of circumstance. How about the extra payments to everyone that didn’t need them? It’s freakin nuts that we can’t find a freakin leader or party that lets everyone be themselves at home and stops fucking around with other peoples $
So the first two stimulus and PPP had no effect on your savings, but the last one did. Makes sense.
You can say, oh blah blah better than Trump, but elections are choices. You had three of them. Biden, Trump or stay home. You can whine and complain about your choices but that doesn't change them. And if you think that the Feb stimulus is why oil is $109 a barrel, then you should go back to watching pillow commercials and how to stop the steal.
They all did. I said as much, then Biden have even more $ away.
Seriously…pillows and stop the steal? If that is all you got…. Such a stupid response
Hey man, do you think that's why oil is $109? It's just about as silly as blaming inflation on the last stimulus, but it's even more obvious. You have made no argument as to how the Feb stimulus is the cause for inflation, yet you blame Biden and that's the policy you pointed to. That's the stupid argument right there. It's the Fox News argument that has no empirical basis. Come back with something rooted in data and then we can go from there.
I have no interest in talking with you at all. You went straight to my pillow and stop the steal.
Sorry I wounded you. Does that mean you do think Biden is the reason gas is so expensive?
My only thought is would people be so “it’s not the presidents fault” during the last year if Trump was in office? That’s not me blaming Biden. It is BAD right now yet the Trump thread has more action than this one. It just feels like people have a real problem being critical sometimes of their “team”.
Every time I order something for my store it’s up 28-70%. I honestly don’t know how people are surviving right now. Do you see this getting better anytime soon? I can’t remember ever getting a notice from my vendors that there is an upcoming decrease on prices. Is this the new norm? Something as simple as a tube of silicone that sold for 5.99 is now 8.99.
maybe it is the new norm. we'll see. the dumbest shit randomly disappears from grocery store shelves. only to reappear weeks later. supply chain disruptions arent a joke. see this is where capitalism is most felt. demand is greater than supply right now. folks are earning higher wages(a good thing imo), have more cash to spend and boom not enough supply coupled with no more restrictions due to covid.
this in conjunction with so much of our goods coming from china (and elsewhere)as they continue to grapple with outbreaks and shutdowns. which are happening in their manufacturing cities. 10 million plus people per city.....
Add in all those damn immigrants documented or not , not stealing all the unfilled jobs right now......
This leads to another question, have prices been artificailly low BECAUSE of our reliance on China for supply? Been hearing for a long time how costs WILL go up when we make more here at home. Add in fuel costs for diesel with OPEC not increasing output.
I work for a midwestern regional ltl trucking company. our terminals sales staff has been confined to the office since covid and after. NO NEW BUSINESS because drivers are hard to come by(we are very selective in who we hire) and we are in a new truck shortage industrywide( due to parts and chips) . We are now sending our old units out for engine replacement(smart move) and other critical components for $50K with tractors that are still highly servicable. New trucks come in at around $150K . This is happening at the 900k mile range. we'll get another 400 to 500k miles before we sell them.
Things WILL settle. eventually. what it looks like on the back end, who knows.
Interesting. Thank you for the post.
Forgot to add, we are at freight handling capacity for our driver and dock worker level. AND we are still growing in a measured way. Very smart ownership. Pay cash for everything!!!!!
Not today Sir, Probably not tomorrow.............................................. bayfront arena st. pete '94
you're finally here and I'm a mess................................................... nationwide arena columbus '10
memories like fingerprints are slowly raising.................................... first niagara center buffalo '13
another man ..... moved by sleight of hand...................................... joe louis arena detroit '14
0
Options
brianlux
Moving through All Kinds of Terrain. Posts: 40,680
Anyone see 2000 mules yet? I know I’m looking forward to it!
I seem like the fool since I voted for Biden and it’s certainly destroying my savings
Which policy do you think did that?
Oh that’s right. I forgot dems are just victims of circumstance. How about the extra payments to everyone that didn’t need them? It’s freakin nuts that we can’t find a freakin leader or party that lets everyone be themselves at home and stops fucking around with other peoples $
So the first two stimulus and PPP had no effect on your savings, but the last one did. Makes sense.
You can say, oh blah blah better than Trump, but elections are choices. You had three of them. Biden, Trump or stay home. You can whine and complain about your choices but that doesn't change them. And if you think that the Feb stimulus is why oil is $109 a barrel, then you should go back to watching pillow commercials and how to stop the steal.
They all did. I said as much, then Biden have even more $ away.
Seriously…pillows and stop the steal? If that is all you got…. Such a stupid response
Hey man, do you think that's why oil is $109? It's just about as silly as blaming inflation on the last stimulus, but it's even more obvious. You have made no argument as to how the Feb stimulus is the cause for inflation, yet you blame Biden and that's the policy you pointed to. That's the stupid argument right there. It's the Fox News argument that has no empirical basis. Come back with something rooted in data and then we can go from there.
I have no interest in talking with you at all. You went straight to my pillow and stop the steal.
Sorry I wounded you. Does that mean you do think Biden is the reason gas is so expensive?
My only thought is would people be so “it’s not the presidents fault” during the last year if Trump was in office? That’s not me blaming Biden. It is BAD right now yet the Trump thread has more action than this one. It just feels like people have a real problem being critical sometimes of their “team”.
Every time I order something for my store it’s up 28-70%. I honestly don’t know how people are surviving right now. Do you see this getting better anytime soon? I can’t remember ever getting a notice from my vendors that there is an upcoming decrease on prices. Is this the new norm? Something as simple as a tube of silicone that sold for 5.99 is now 8.99.
maybe it is the new norm. we'll see. the dumbest shit randomly disappears from grocery store shelves. only to reappear weeks later. supply chain disruptions arent a joke. see this is where capitalism is most felt. demand is greater than supply right now. folks are earning higher wages(a good thing imo), have more cash to spend and boom not enough supply coupled with no more restrictions due to covid.
this in conjunction with so much of our goods coming from china (and elsewhere)as they continue to grapple with outbreaks and shutdowns. which are happening in their manufacturing cities. 10 million plus people per city.....
Add in all those damn immigrants documented or not , not stealing all the unfilled jobs right now......
This leads to another question, have prices been artificailly low BECAUSE of our reliance on China for supply? Been hearing for a long time how costs WILL go up when we make more here at home. Add in fuel costs for diesel with OPEC not increasing output.
I work for a midwestern regional ltl trucking company. our terminals sales staff has been confined to the office since covid and after. NO NEW BUSINESS because drivers are hard to come by(we are very selective in who we hire) and we are in a new truck shortage industrywide( due to parts and chips) . We are now sending our old units out for engine replacement(smart move) and other critical components for $50K with tractors that are still highly servicable. New trucks come in at around $150K . This is happening at the 900k mile range. we'll get another 400 to 500k miles before we sell them.
Things WILL settle. eventually. what it looks like on the back end, who knows.
Interesting. Thank you for the post.
Forgot to add, we are at freight handling capacity for our driver and dock worker level. AND we are still growing in a measured way. Very smart ownership. Pay cash for everything!!!!!
Interesting stuff, M! I'm fascinated that you get so many miles out of a truck. I had no idea! Odd that more vehicles don't get that kind of mileage. In the late 70's I had an old Ford Econoline van. That thing was a work horse and must have had a good 400 to 500K miles on it and was still going strong when I gave it to my brother in his time of need. Nowadays, I'm hoping to squeeze 300 to 400K out of my Prius. Everything else I've had crapped out before that. And here you are with trucks getting up to 900K! Amazing!
“The fear of death follows from the fear of life. A man [or woman] who lives fully is prepared to die at any time.”
Anyone see 2000 mules yet? I know I’m looking forward to it!
I seem like the fool since I voted for Biden and it’s certainly destroying my savings
Which policy do you think did that?
Oh that’s right. I forgot dems are just victims of circumstance. How about the extra payments to everyone that didn’t need them? It’s freakin nuts that we can’t find a freakin leader or party that lets everyone be themselves at home and stops fucking around with other peoples $
So the first two stimulus and PPP had no effect on your savings, but the last one did. Makes sense.
You can say, oh blah blah better than Trump, but elections are choices. You had three of them. Biden, Trump or stay home. You can whine and complain about your choices but that doesn't change them. And if you think that the Feb stimulus is why oil is $109 a barrel, then you should go back to watching pillow commercials and how to stop the steal.
They all did. I said as much, then Biden have even more $ away.
Seriously…pillows and stop the steal? If that is all you got…. Such a stupid response
Hey man, do you think that's why oil is $109? It's just about as silly as blaming inflation on the last stimulus, but it's even more obvious. You have made no argument as to how the Feb stimulus is the cause for inflation, yet you blame Biden and that's the policy you pointed to. That's the stupid argument right there. It's the Fox News argument that has no empirical basis. Come back with something rooted in data and then we can go from there.
I thought inflation was because we are giving military aid to ukraine *s*
Anyone see 2000 mules yet? I know I’m looking forward to it!
I seem like the fool since I voted for Biden and it’s certainly destroying my savings
Which policy do you think did that?
Oh that’s right. I forgot dems are just victims of circumstance. How about the extra payments to everyone that didn’t need them? It’s freakin nuts that we can’t find a freakin leader or party that lets everyone be themselves at home and stops fucking around with other peoples $
So the first two stimulus and PPP had no effect on your savings, but the last one did. Makes sense.
You can say, oh blah blah better than Trump, but elections are choices. You had three of them. Biden, Trump or stay home. You can whine and complain about your choices but that doesn't change them. And if you think that the Feb stimulus is why oil is $109 a barrel, then you should go back to watching pillow commercials and how to stop the steal.
They all did. I said as much, then Biden have even more $ away.
Seriously…pillows and stop the steal? If that is all you got…. Such a stupid response
Hey man, do you think that's why oil is $109? It's just about as silly as blaming inflation on the last stimulus, but it's even more obvious. You have made no argument as to how the Feb stimulus is the cause for inflation, yet you blame Biden and that's the policy you pointed to. That's the stupid argument right there. It's the Fox News argument that has no empirical basis. Come back with something rooted in data and then we can go from there.
I have no interest in talking with you at all. You went straight to my pillow and stop the steal.
Sorry I wounded you. Does that mean you do think Biden is the reason gas is so expensive?
I never mentioned gas. Wounded me? No more like outted yourself. Straight to the stupid stuff...makes it tough to actually have a conversation.
Anyone see 2000 mules yet? I know I’m looking forward to it!
I seem like the fool since I voted for Biden and it’s certainly destroying my savings
Which policy do you think did that?
Oh that’s right. I forgot dems are just victims of circumstance. How about the extra payments to everyone that didn’t need them? It’s freakin nuts that we can’t find a freakin leader or party that lets everyone be themselves at home and stops fucking around with other peoples $
So the first two stimulus and PPP had no effect on your savings, but the last one did. Makes sense.
You can say, oh blah blah better than Trump, but elections are choices. You had three of them. Biden, Trump or stay home. You can whine and complain about your choices but that doesn't change them. And if you think that the Feb stimulus is why oil is $109 a barrel, then you should go back to watching pillow commercials and how to stop the steal.
They all did. I said as much, then Biden have even more $ away.
Seriously…pillows and stop the steal? If that is all you got…. Such a stupid response
Hey man, do you think that's why oil is $109? It's just about as silly as blaming inflation on the last stimulus, but it's even more obvious. You have made no argument as to how the Feb stimulus is the cause for inflation, yet you blame Biden and that's the policy you pointed to. That's the stupid argument right there. It's the Fox News argument that has no empirical basis. Come back with something rooted in data and then we can go from there.
I have no interest in talking with you at all. You went straight to my pillow and stop the steal.
Sorry I wounded you. Does that mean you do think Biden is the reason gas is so expensive?
I never mentioned gas. Wounded me? No more like outted yourself. Straight to the stupid stuff...makes it tough to actually have a conversation.
Oh whatever, I outed myself. You make a statement that you did not ground. I said that's kind of silly and asked if you believed something even sillier like about the gas, and if you did that's kind of My Pillow stuff. And now the snowflakey stuff starts.
Anyone see 2000 mules yet? I know I’m looking forward to it!
I seem like the fool since I voted for Biden and it’s certainly destroying my savings
Which policy do you think did that?
Oh that’s right. I forgot dems are just victims of circumstance. How about the extra payments to everyone that didn’t need them? It’s freakin nuts that we can’t find a freakin leader or party that lets everyone be themselves at home and stops fucking around with other peoples $
So the first two stimulus and PPP had no effect on your savings, but the last one did. Makes sense.
You can say, oh blah blah better than Trump, but elections are choices. You had three of them. Biden, Trump or stay home. You can whine and complain about your choices but that doesn't change them. And if you think that the Feb stimulus is why oil is $109 a barrel, then you should go back to watching pillow commercials and how to stop the steal.
They all did. I said as much, then Biden have even more $ away.
Seriously…pillows and stop the steal? If that is all you got…. Such a stupid response
Hey man, do you think that's why oil is $109? It's just about as silly as blaming inflation on the last stimulus, but it's even more obvious. You have made no argument as to how the Feb stimulus is the cause for inflation, yet you blame Biden and that's the policy you pointed to. That's the stupid argument right there. It's the Fox News argument that has no empirical basis. Come back with something rooted in data and then we can go from there.
I have no interest in talking with you at all. You went straight to my pillow and stop the steal.
Sorry I wounded you. Does that mean you do think Biden is the reason gas is so expensive?
I never mentioned gas. Wounded me? No more like outted yourself. Straight to the stupid stuff...makes it tough to actually have a conversation.
Oh whatever, I outed myself. You make a statement that you did not ground. I said that's kind of silly and asked if you believed something even sillier like about the gas, and if you did that's kind of My Pillow stuff. And now the snowflakey stuff starts.
Ah, now snowflakey.....you are on a roll.
Ok, let's reset. I've lost more $ (unrealized gains, etc of course) over the last 5 months than I've actually made in wages in the last 12 months. That is a problem.
There are external issues at hand that certainly are major factors, mostly the Pandemic and the War. Biden was not in charge during the entire pandemic so I fully realize it is not all on him. But the government's "solution" to the pandemic under both presidents has been far from ideal. Short-term thinking and just really dumb spending for what....votes.
The war is out of the control of the president and certainly a major factor for gas prices and thus prices of many commodities. The cost of everything is pretty crazy right now. There are lots of job opportunities for sure, but no one willing to fill it seems.
So - I am disappointed in Biden's first year though of his response. I think his massive spending plan (not passed) would not help, but hurt. Haven't seen much get done to help at all...and I do realize that congress is a cesspool that is slowing or stopping some progress. But That doesn't mean the person in charge gets a pass.
It's been a big hurt to retirement funds for everyone. And if you are in power, you are going to share in the blame. So - I am not happy with Biden's performance on most issues at all. And if it's trump vs Biden in 2024 again....man what an awful scenario.
Damn you Brandon! And thank you Ohio. 'Murica's future.
“If you wanted to kill a bunch of MAGA voters in the middle of the heartland, how better than to target them and their kids with this deadly fentanyl? … It does look intentional. It’s like Joe Biden wants to punish the people who didn’t vote for him and opening up the floodgates to the border is one way to do it.”
— GOP Senate candidate J.D. Vance, in an interview with Jim Hoft of Gateway Pundit, April 29
Shortly before he won the Republican primary for Ohio’s Senate race, Vance made this startling observation. Vance, the author of “Hillbilly Elegy” and a conservative commentator, argued that President Biden’s border policies had reverberated across the country, allowing not only undocumented immigrants but also deadly drugs to flow into the country — with a nefarious purpose. He suggested that Biden was intentionally allowing drugs such as fentanyl to flood the United States with the intention of trying to kill supporters of former president Donald Trump in the “heartland” of the country.
More seizures could mean Border Patrol is doing a better job. Or they could mean more drugs are flowing into the country. Or the numbers may mean nothing when viewed in isolation. If data on increased seizures was coupled with a decline in drug availability, that would suggest that law enforcement is taking a greater percentage of drugs off the street. But as of 2019, availability of fentanyl remains high, according to the 2020 National Drug Threat Assessment, and there is little sign availability had declined since then.
But with those caveats, we find that, according to the monthly reports posted by CBP, 7,267 pounds of fentanyl were seized in 2020, the last year of the Trump administration. Meanwhile, 10,753 pounds were seized in 2021, the first year of the Biden administration. That’s an increase of almost 50 percent in just one year.
“Under the Biden-Harris Administration, DHS has interdicted more drugs and disrupted more smuggling operations than ever before,” a department spokesperson said in a statement. “In fiscal year 2021, HSI [Homeland Security Investigations] Special Agents conducted 12,920 criminal arrests and seized over 2.4 million pounds of narcotics, which included 14,530 pounds of fentanyl. This compares to FY 2020 seizures of more than 1.4 million pounds, including 6,105 pounds of fentanyl. In addition, HSI Special Agents seized more than $188 million in total currency and assets. In FY 2021, CBP seized 900,000 pounds of narcotics, a significant increase over the previous year.”
As we said, whether these numbers mean much is open to question. But it’s the best data we have.
“The increase in seizures tells us that law enforcement is making more seizures,” said Katharine Neill Harris, a drug policy expert at Rice University’s Baker Institute for Public Policy. She said she was not aware of a formula that would extrapolate from seizure size to true drug availability. “In any event,” she added, “changing border policies are not going to stop drug-trafficking organizations from getting drugs into the United States.”
“Fentanyl seizure rates are notoriously sketchy in part because the drug is so compact and easy to smuggle and crackdowns often lead to the substitution effect (which is how cracking down on heroin helped spur fentanyl and its analogs) by incentivizing even more potent analogs like carfentanil (AKA elephant tranquilizer),” Sanho Tree, director of the Drug Policy Project at the Institute for Policy Studies, said in an email. He added that seizures may have been higher during the coronavirus pandemic because border agents had more time to inspect vehicles.
As for drug overdoses, about 70 percent of which result from opioids such as fentanyl, they increased sharply during the Trump years — in particular, after the start of the coronavirus pandemic. Data from the Centers for Disease Control and Prevention, which publishes provisional numbers on overdoses, shows that 65,571 people died in the United States of drug overdoses in the 12-month period ending January 2017, compared with 94,738 in the 12 months ending January 2021. That’s an increase of 45 percent under Trump.
We do not yet have a full year of data for Biden, but 102,568 people died of overdoses in the 12 months ending in November. That’s an increase, but at a slower rate than under Trump. So there’s little to indicate that Biden’s policies are causing a spike in overdose deaths. (Update: after this fact check was published, the CDC released full-year data showing estimated 107,622 drug overdose deaths took place in 2021, an increase of 15 percent.)
If you isolate the CDC data just for deaths from opioids, they spiked 63 percent under Trump and 8.5 percent in the first 11 months of Biden’s term.
In other words, Vance is putting the blame on Biden for a problem that got significantly worse under Trump.
Finally, there’s Vance’s assertion that the fentanyl epidemic is aimed at “MAGA voters” in the Midwest, who are typically White and not Hispanic. The data shows this is also bunk. Overdose deaths have increased the most among people of color, with Black men now having the highest rate of overdoses. That’s probably not your typical Trump voter, as Black Americans overwhelmingly voted for Biden.
There were 54.1 fatal drug overdoses for every 100,000 Black men in the United States in 2020, according to Pew Research Center, compared with 44.2 for White men and 27.3 for Hispanic men. Pew said the death rate among Black men more than tripled (213 percent) from 2015 to 2020, compared with a 69 percent increase for White men in the same period.
The raw numbers sometimes disguise these disparities. In 2020, Ohio had more opioid overdose deaths than any state but much larger California — and 80 percent of the opioid deaths were among Whites. But the opioid overdose death rate in the state still was higher for Black people than Whites or Hispanics, according to data published by the Kaiser Family Foundation.
Damn you Brandon! And thank you Ohio. 'Murica's future.
“If you wanted to kill a bunch of MAGA voters in the middle of the heartland, how better than to target them and their kids with this deadly fentanyl? … It does look intentional. It’s like Joe Biden wants to punish the people who didn’t vote for him and opening up the floodgates to the border is one way to do it.”
— GOP Senate candidate J.D. Vance, in an interview with Jim Hoft of Gateway Pundit, April 29
Shortly before he won the Republican primary for Ohio’s Senate race, Vance made this startling observation. Vance, the author of “Hillbilly Elegy” and a conservative commentator, argued that President Biden’s border policies had reverberated across the country, allowing not only undocumented immigrants but also deadly drugs to flow into the country — with a nefarious purpose. He suggested that Biden was intentionally allowing drugs such as fentanyl to flood the United States with the intention of trying to kill supporters of former president Donald Trump in the “heartland” of the country.
More seizures could mean Border Patrol is doing a better job. Or they could mean more drugs are flowing into the country. Or the numbers may mean nothing when viewed in isolation. If data on increased seizures was coupled with a decline in drug availability, that would suggest that law enforcement is taking a greater percentage of drugs off the street. But as of 2019, availability of fentanyl remains high, according to the 2020 National Drug Threat Assessment, and there is little sign availability had declined since then.
But with those caveats, we find that, according to the monthly reports posted by CBP, 7,267 pounds of fentanyl were seized in 2020, the last year of the Trump administration. Meanwhile, 10,753 pounds were seized in 2021, the first year of the Biden administration. That’s an increase of almost 50 percent in just one year.
“Under the Biden-Harris Administration, DHS has interdicted more drugs and disrupted more smuggling operations than ever before,” a department spokesperson said in a statement. “In fiscal year 2021, HSI [Homeland Security Investigations] Special Agents conducted 12,920 criminal arrests and seized over 2.4 million pounds of narcotics, which included 14,530 pounds of fentanyl. This compares to FY 2020 seizures of more than 1.4 million pounds, including 6,105 pounds of fentanyl. In addition, HSI Special Agents seized more than $188 million in total currency and assets. In FY 2021, CBP seized 900,000 pounds of narcotics, a significant increase over the previous year.”
As we said, whether these numbers mean much is open to question. But it’s the best data we have.
“The increase in seizures tells us that law enforcement is making more seizures,” said Katharine Neill Harris, a drug policy expert at Rice University’s Baker Institute for Public Policy. She said she was not aware of a formula that would extrapolate from seizure size to true drug availability. “In any event,” she added, “changing border policies are not going to stop drug-trafficking organizations from getting drugs into the United States.”
“Fentanyl seizure rates are notoriously sketchy in part because the drug is so compact and easy to smuggle and crackdowns often lead to the substitution effect (which is how cracking down on heroin helped spur fentanyl and its analogs) by incentivizing even more potent analogs like carfentanil (AKA elephant tranquilizer),” Sanho Tree, director of the Drug Policy Project at the Institute for Policy Studies, said in an email. He added that seizures may have been higher during the coronavirus pandemic because border agents had more time to inspect vehicles.
As for drug overdoses, about 70 percent of which result from opioids such as fentanyl, they increased sharply during the Trump years — in particular, after the start of the coronavirus pandemic. Data from the Centers for Disease Control and Prevention, which publishes provisional numbers on overdoses, shows that 65,571 people died in the United States of drug overdoses in the 12-month period ending January 2017, compared with 94,738 in the 12 months ending January 2021. That’s an increase of 45 percent under Trump.
We do not yet have a full year of data for Biden, but 102,568 people died of overdoses in the 12 months ending in November. That’s an increase, but at a slower rate than under Trump. So there’s little to indicate that Biden’s policies are causing a spike in overdose deaths. (Update: after this fact check was published, the CDC released full-year data showing estimated 107,622 drug overdose deaths took place in 2021, an increase of 15 percent.)
If you isolate the CDC data just for deaths from opioids, they spiked 63 percent under Trump and 8.5 percent in the first 11 months of Biden’s term.
In other words, Vance is putting the blame on Biden for a problem that got significantly worse under Trump.
Finally, there’s Vance’s assertion that the fentanyl epidemic is aimed at “MAGA voters” in the Midwest, who are typically White and not Hispanic. The data shows this is also bunk. Overdose deaths have increased the most among people of color, with Black men now having the highest rate of overdoses. That’s probably not your typical Trump voter, as Black Americans overwhelmingly voted for Biden.
There were 54.1 fatal drug overdoses for every 100,000 Black men in the United States in 2020, according to Pew Research Center, compared with 44.2 for White men and 27.3 for Hispanic men. Pew said the death rate among Black men more than tripled (213 percent) from 2015 to 2020, compared with a 69 percent increase for White men in the same period.
The raw numbers sometimes disguise these disparities. In 2020, Ohio had more opioid overdose deaths than any state but much larger California — and 80 percent of the opioid deaths were among Whites. But the opioid overdose death rate in the state still was higher for Black people than Whites or Hispanics, according to data published by the Kaiser Family Foundation.
Anyone see 2000 mules yet? I know I’m looking forward to it!
I seem like the fool since I voted for Biden and it’s certainly destroying my savings
Which policy do you think did that?
Oh that’s right. I forgot dems are just victims of circumstance. How about the extra payments to everyone that didn’t need them? It’s freakin nuts that we can’t find a freakin leader or party that lets everyone be themselves at home and stops fucking around with other peoples $
So the first two stimulus and PPP had no effect on your savings, but the last one did. Makes sense.
You can say, oh blah blah better than Trump, but elections are choices. You had three of them. Biden, Trump or stay home. You can whine and complain about your choices but that doesn't change them. And if you think that the Feb stimulus is why oil is $109 a barrel, then you should go back to watching pillow commercials and how to stop the steal.
They all did. I said as much, then Biden have even more $ away.
Seriously…pillows and stop the steal? If that is all you got…. Such a stupid response
Hey man, do you think that's why oil is $109? It's just about as silly as blaming inflation on the last stimulus, but it's even more obvious. You have made no argument as to how the Feb stimulus is the cause for inflation, yet you blame Biden and that's the policy you pointed to. That's the stupid argument right there. It's the Fox News argument that has no empirical basis. Come back with something rooted in data and then we can go from there.
I have no interest in talking with you at all. You went straight to my pillow and stop the steal.
Sorry I wounded you. Does that mean you do think Biden is the reason gas is so expensive?
My only thought is would people be so “it’s not the presidents fault” during the last year if Trump was in office? That’s not me blaming Biden. It is BAD right now yet the Trump thread has more action than this one. It just feels like people have a real problem being critical sometimes of their “team”.
Every time I order something for my store it’s up 28-70%. I honestly don’t know how people are surviving right now. Do you see this getting better anytime soon? I can’t remember ever getting a notice from my vendors that there is an upcoming decrease on prices. Is this the new norm? Something as simple as a tube of silicone that sold for 5.99 is now 8.99.
maybe it is the new norm. we'll see. the dumbest shit randomly disappears from grocery store shelves. only to reappear weeks later. supply chain disruptions arent a joke. see this is where capitalism is most felt. demand is greater than supply right now. folks are earning higher wages(a good thing imo), have more cash to spend and boom not enough supply coupled with no more restrictions due to covid.
this in conjunction with so much of our goods coming from china (and elsewhere)as they continue to grapple with outbreaks and shutdowns. which are happening in their manufacturing cities. 10 million plus people per city.....
Add in all those damn immigrants documented or not , not stealing all the unfilled jobs right now......
This leads to another question, have prices been artificailly low BECAUSE of our reliance on China for supply? Been hearing for a long time how costs WILL go up when we make more here at home. Add in fuel costs for diesel with OPEC not increasing output.
I work for a midwestern regional ltl trucking company. our terminals sales staff has been confined to the office since covid and after. NO NEW BUSINESS because drivers are hard to come by(we are very selective in who we hire) and we are in a new truck shortage industrywide( due to parts and chips) . We are now sending our old units out for engine replacement(smart move) and other critical components for $50K with tractors that are still highly servicable. New trucks come in at around $150K . This is happening at the 900k mile range. we'll get another 400 to 500k miles before we sell them.
Things WILL settle. eventually. what it looks like on the back end, who knows.
Interesting. Thank you for the post.
Forgot to add, we are at freight handling capacity for our driver and dock worker level. AND we are still growing in a measured way. Very smart ownership. Pay cash for everything!!!!!
Interesting stuff, M! I'm fascinated that you get so many miles out of a truck. I had no idea! Odd that more vehicles don't get that kind of mileage. In the late 70's I had an old Ford Econoline van. That thing was a work horse and must have had a good 400 to 500K miles on it and was still going strong when I gave it to my brother in his time of need. Nowadays, I'm hoping to squeeze 300 to 400K out of my Prius. Everything else I've had crapped out before that. And here you are with trucks getting up to 900K! Amazing!
There are trucks on the road with 4 million or more. timely maintenace and care and thats what you can get. Ours are usually shared trucks. Average miles my shift drive is 125K a year. day shift can add about 50K to that total give or take. we do monthly service schedule that extends our warranties. we then sell with some warranty left at roughly 5 years or so or relegate them to spare duty or city only work. . covid changed all that.
My current truck was just assigned. its a 2016 built with a fresh remanufactured engine(essentially zero miles on it) with some other new components like a radiator and the like. Currently its been in our shop getting suspension work done. otherwise theres faded paint and some surface rust and cast steel and iron components along the frame. no biggie.
Not today Sir, Probably not tomorrow.............................................. bayfront arena st. pete '94
you're finally here and I'm a mess................................................... nationwide arena columbus '10
memories like fingerprints are slowly raising.................................... first niagara center buffalo '13
another man ..... moved by sleight of hand...................................... joe louis arena detroit '14
Anyone see 2000 mules yet? I know I’m looking forward to it!
I seem like the fool since I voted for Biden and it’s certainly destroying my savings
Which policy do you think did that?
Oh that’s right. I forgot dems are just victims of circumstance. How about the extra payments to everyone that didn’t need them? It’s freakin nuts that we can’t find a freakin leader or party that lets everyone be themselves at home and stops fucking around with other peoples $
So the first two stimulus and PPP had no effect on your savings, but the last one did. Makes sense.
You can say, oh blah blah better than Trump, but elections are choices. You had three of them. Biden, Trump or stay home. You can whine and complain about your choices but that doesn't change them. And if you think that the Feb stimulus is why oil is $109 a barrel, then you should go back to watching pillow commercials and how to stop the steal.
They all did. I said as much, then Biden have even more $ away.
Seriously…pillows and stop the steal? If that is all you got…. Such a stupid response
Hey man, do you think that's why oil is $109? It's just about as silly as blaming inflation on the last stimulus, but it's even more obvious. You have made no argument as to how the Feb stimulus is the cause for inflation, yet you blame Biden and that's the policy you pointed to. That's the stupid argument right there. It's the Fox News argument that has no empirical basis. Come back with something rooted in data and then we can go from there.
I have no interest in talking with you at all. You went straight to my pillow and stop the steal.
Sorry I wounded you. Does that mean you do think Biden is the reason gas is so expensive?
I never mentioned gas. Wounded me? No more like outted yourself. Straight to the stupid stuff...makes it tough to actually have a conversation.
Oh whatever, I outed myself. You make a statement that you did not ground. I said that's kind of silly and asked if you believed something even sillier like about the gas, and if you did that's kind of My Pillow stuff. And now the snowflakey stuff starts.
Ah, now snowflakey.....you are on a roll.
Ok, let's reset. I've lost more $ (unrealized gains, etc of course) over the last 5 months than I've actually made in wages in the last 12 months. That is a problem.
There are external issues at hand that certainly are major factors, mostly the Pandemic and the War. Biden was not in charge during the entire pandemic so I fully realize it is not all on him. But the government's "solution" to the pandemic under both presidents has been far from ideal. Short-term thinking and just really dumb spending for what....votes.
The war is out of the control of the president and certainly a major factor for gas prices and thus prices of many commodities. The cost of everything is pretty crazy right now. There are lots of job opportunities for sure, but no one willing to fill it seems.
So - I am disappointed in Biden's first year though of his response. I think his massive spending plan (not passed) would not help, but hurt. Haven't seen much get done to help at all...and I do realize that congress is a cesspool that is slowing or stopping some progress. But That doesn't mean the person in charge gets a pass.
It's been a big hurt to retirement funds for everyone. And if you are in power, you are going to share in the blame. So - I am not happy with Biden's performance on most issues at all. And if it's trump vs Biden in 2024 again....man what an awful scenario.
One thing to keep in mind is that inflation issues right now are global, not local. Domestic policies like stimulus and PPP are not the reasons why UK, France, Germany, etc. are experiencing inflation just like we are. This is a global issue, first driven by supply chain, then lack of workers and now Ukraine. It's a confluence of negative effects. And the market is seeing the lower GDP as a risk, triggering a sell off. So now we are all down in our portfolios and paying more. Nothing about this is particularly surprising or mysterious.
Difficult to be critical when the opposition doesn't offer any solutions so, at the least, you could say buh, buh, buh. Instead, we get one of the major political parties gleeful and willing to do absolutely nothing, which is what they've been doing since 2010. What are the repubs' plan for taming inflation? What policy proposals have they offered? Yea, all Brandon's fault but its all we got. Oh well. From February:
Here’s a little Thursday morning reminder: After repeating the same tired talking points, and even cheering for higher costs for families, Republicans *still* don’t have a plan to lower costs. While President Biden and Democrats have laid out clear steps to address inflation and reduce the health care, child care, and prescription drug costs that working families struggle with, Republicans are content to do absolutely nothing.
Republicans have no plan or policy agenda to combat inflation, and they’re rooting against our economic recovery to score cheap political points.
HuffPost: “Earlier this month, for example, a group of Republican senators introduced a bill to address rising inflation, which eats into workers’ earnings. The legislation would prohibit the passage of all future bills “that would be estimated to increase inflation until the year-over-year inflation rate drops below 4.5 percent.” In essence, their answer on inflation is to do nothing and wait it out.”
Axios: “McConnell: No legislative agenda for 2022 midterms”
USA Today: “Rather than offer a specific plan, House Republican leader Kevin McCarthy and other GOP candidates say they would tame inflation with traditional Republican economic doctrine, particularly spending reductions, and tax and regulation cuts.”
Insider: “Republicans are ecstatic that Biden is struggling with inflation: ‘This is a gold mine for us’”
And don’t forget, House Republicans unanimously voted against President Biden’s Build Back Better plan, which economists say would address price increases.
New York Times: “The House narrowly passed the centerpiece of President Biden’s domestic agenda on Friday, approving $2.2 trillion in spending over the next decade to battle climate change, expand health care and reweave the nation’s social safety net, over the unanimous opposition of Republicans.”
Axios: “A group of 56 economists says President Biden’s Build Back Better Act would counteract the impact of rising prices on Americans’ wallets.”
Economists predict that inflation will improve as supply chain issues show further signs of easing.
Moody’s Analytics Chief Economist Mark Zandi: “Inflation has peaked. This, despite tomorrow’s blaring headlines on January consumer price inflation. Inflation peaked in October when the Delta wave of the pandemic was doing its maximum damage to global supply chains and keeping millions of sick workers off the job.”
Moody’s Analytics Chief Economist Mark Zandi: “As the pandemic continues to fade – each new wave is less disruptive than the previous one – so too will inflation. Global supply chains are ironing things out – global trade volumes have already picked-up. And wage growth will moderate as workers get healthy again.”
Wall Street Journal: “Shipping Firm Maersk Expects Supply-Chain Snarls to Ease This Year”
Bloomberg: “L.A. Port Sees Chance to Ease Ship Backlog by Summer Peak”
And let's not discount corporate greed and profit taking. Nah, that can't be a cause, they'd never do that.
In the fourth quarter of 2021, corporate profit growth did slow sharply, rising just 0.7% from the previous quarter. Still, in every quarter of 2021, U.S. corporations’ overall profit margin remained above 13%, a level reached during only one previous quarter in the past 70 years.
Corporate profits have contributed disproportionately to inflation. How should policymakers respond?
The inflation spike of 2021 and 2022 has presented real policy challenges. In order to better understand this policy debate, it is imperative to look at prices and how they are being affected.
The price of just about everything in the U.S. economy can be broken down into the three main components of cost. These include labor costs, nonlabor inputs, and the “mark-up” of profits over the first two components. Good data on these separate cost components exist for the nonfinancial corporate (NFC) sector—those companies that produce goods and services—of the economy, which makes up roughly 75% of the entire private sector.
Since the trough of the COVID-19 recession in the second quarter of 2020, overall prices in the NFC sector have risen at an annualized rate of 6.1%—a pronounced acceleration over the 1.8% price growth that characterized the pre-pandemic business cycle of 2007–2019. Strikingly, over half of this increase (53.9%) can be attributed to fatter profit margins, with labor costs contributing less than 8% of this increase. This is not normal. From 1979 to 2019, profits only contributed about 11% to price growth and labor costs over 60%, as shown in Figure A below. Nonlabor inputs—a decent indicator for supply-chain snarls—are also driving up prices more than usual in the current economic recovery.
Anyone see 2000 mules yet? I know I’m looking forward to it!
I seem like the fool since I voted for Biden and it’s certainly destroying my savings
Which policy do you think did that?
Oh that’s right. I forgot dems are just victims of circumstance. How about the extra payments to everyone that didn’t need them? It’s freakin nuts that we can’t find a freakin leader or party that lets everyone be themselves at home and stops fucking around with other peoples $
So the first two stimulus and PPP had no effect on your savings, but the last one did. Makes sense.
You can say, oh blah blah better than Trump, but elections are choices. You had three of them. Biden, Trump or stay home. You can whine and complain about your choices but that doesn't change them. And if you think that the Feb stimulus is why oil is $109 a barrel, then you should go back to watching pillow commercials and how to stop the steal.
They all did. I said as much, then Biden have even more $ away.
Seriously…pillows and stop the steal? If that is all you got…. Such a stupid response
Hey man, do you think that's why oil is $109? It's just about as silly as blaming inflation on the last stimulus, but it's even more obvious. You have made no argument as to how the Feb stimulus is the cause for inflation, yet you blame Biden and that's the policy you pointed to. That's the stupid argument right there. It's the Fox News argument that has no empirical basis. Come back with something rooted in data and then we can go from there.
I have no interest in talking with you at all. You went straight to my pillow and stop the steal.
Sorry I wounded you. Does that mean you do think Biden is the reason gas is so expensive?
My only thought is would people be so “it’s not the presidents fault” during the last year if Trump was in office? That’s not me blaming Biden. It is BAD right now yet the Trump thread has more action than this one. It just feels like people have a real problem being critical sometimes of their “team”.
Every time I order something for my store it’s up 28-70%. I honestly don’t know how people are surviving right now. Do you see this getting better anytime soon? I can’t remember ever getting a notice from my vendors that there is an upcoming decrease on prices. Is this the new norm? Something as simple as a tube of silicone that sold for 5.99 is now 8.99.
maybe it is the new norm. we'll see. the dumbest shit randomly disappears from grocery store shelves. only to reappear weeks later. supply chain disruptions arent a joke. see this is where capitalism is most felt. demand is greater than supply right now. folks are earning higher wages(a good thing imo), have more cash to spend and boom not enough supply coupled with no more restrictions due to covid.
this in conjunction with so much of our goods coming from china (and elsewhere)as they continue to grapple with outbreaks and shutdowns. which are happening in their manufacturing cities. 10 million plus people per city.....
Add in all those damn immigrants documented or not , not stealing all the unfilled jobs right now......
This leads to another question, have prices been artificailly low BECAUSE of our reliance on China for supply? Been hearing for a long time how costs WILL go up when we make more here at home. Add in fuel costs for diesel with OPEC not increasing output.
I work for a midwestern regional ltl trucking company. our terminals sales staff has been confined to the office since covid and after. NO NEW BUSINESS because drivers are hard to come by(we are very selective in who we hire) and we are in a new truck shortage industrywide( due to parts and chips) . We are now sending our old units out for engine replacement(smart move) and other critical components for $50K with tractors that are still highly servicable. New trucks come in at around $150K . This is happening at the 900k mile range. we'll get another 400 to 500k miles before we sell them.
Things WILL settle. eventually. what it looks like on the back end, who knows.
Interesting. Thank you for the post.
Forgot to add, we are at freight handling capacity for our driver and dock worker level. AND we are still growing in a measured way. Very smart ownership. Pay cash for everything!!!!!
Interesting stuff, M! I'm fascinated that you get so many miles out of a truck. I had no idea! Odd that more vehicles don't get that kind of mileage. In the late 70's I had an old Ford Econoline van. That thing was a work horse and must have had a good 400 to 500K miles on it and was still going strong when I gave it to my brother in his time of need. Nowadays, I'm hoping to squeeze 300 to 400K out of my Prius. Everything else I've had crapped out before that. And here you are with trucks getting up to 900K! Amazing!
There are trucks on the road with 4 million or more. timely maintenace and care and thats what you can get. Ours are usually shared trucks. Average miles my shift drive is 125K a year. day shift can add about 50K to that total give or take. we do monthly service schedule that extends our warranties. we then sell with some warranty left at roughly 5 years or so or relegate them to spare duty or city only work. . covid changed all that.
My current truck was just assigned. its a 2016 built with a fresh remanufactured engine(essentially zero miles on it) with some other new components like a radiator and the like. Currently its been in our shop getting suspension work done. otherwise theres faded paint and some surface rust and cast steel and iron components along the frame. no biggie.
4 Million!!! Now that is "built tough"!
Sorry for getting a bit (or a lot) off topic, but this is a thing that really bugs me. Cars could be getting the same. I used to know this guy who was really big into the cars and the car industry and he held to the notion that there was no reason cars could not be made to last up to one million miles before needing any major repairs. I would LOVE that!
“The fear of death follows from the fear of life. A man [or woman] who lives fully is prepared to die at any time.”
Anyone see 2000 mules yet? I know I’m looking forward to it!
I seem like the fool since I voted for Biden and it’s certainly destroying my savings
Which policy do you think did that?
Oh that’s right. I forgot dems are just victims of circumstance. How about the extra payments to everyone that didn’t need them? It’s freakin nuts that we can’t find a freakin leader or party that lets everyone be themselves at home and stops fucking around with other peoples $
So the first two stimulus and PPP had no effect on your savings, but the last one did. Makes sense.
You can say, oh blah blah better than Trump, but elections are choices. You had three of them. Biden, Trump or stay home. You can whine and complain about your choices but that doesn't change them. And if you think that the Feb stimulus is why oil is $109 a barrel, then you should go back to watching pillow commercials and how to stop the steal.
They all did. I said as much, then Biden have even more $ away.
Seriously…pillows and stop the steal? If that is all you got…. Such a stupid response
Hey man, do you think that's why oil is $109? It's just about as silly as blaming inflation on the last stimulus, but it's even more obvious. You have made no argument as to how the Feb stimulus is the cause for inflation, yet you blame Biden and that's the policy you pointed to. That's the stupid argument right there. It's the Fox News argument that has no empirical basis. Come back with something rooted in data and then we can go from there.
I have no interest in talking with you at all. You went straight to my pillow and stop the steal.
Sorry I wounded you. Does that mean you do think Biden is the reason gas is so expensive?
My only thought is would people be so “it’s not the presidents fault” during the last year if Trump was in office? That’s not me blaming Biden. It is BAD right now yet the Trump thread has more action than this one. It just feels like people have a real problem being critical sometimes of their “team”.
Every time I order something for my store it’s up 28-70%. I honestly don’t know how people are surviving right now. Do you see this getting better anytime soon? I can’t remember ever getting a notice from my vendors that there is an upcoming decrease on prices. Is this the new norm? Something as simple as a tube of silicone that sold for 5.99 is now 8.99.
maybe it is the new norm. we'll see. the dumbest shit randomly disappears from grocery store shelves. only to reappear weeks later. supply chain disruptions arent a joke. see this is where capitalism is most felt. demand is greater than supply right now. folks are earning higher wages(a good thing imo), have more cash to spend and boom not enough supply coupled with no more restrictions due to covid.
this in conjunction with so much of our goods coming from china (and elsewhere)as they continue to grapple with outbreaks and shutdowns. which are happening in their manufacturing cities. 10 million plus people per city.....
Add in all those damn immigrants documented or not , not stealing all the unfilled jobs right now......
This leads to another question, have prices been artificailly low BECAUSE of our reliance on China for supply? Been hearing for a long time how costs WILL go up when we make more here at home. Add in fuel costs for diesel with OPEC not increasing output.
I work for a midwestern regional ltl trucking company. our terminals sales staff has been confined to the office since covid and after. NO NEW BUSINESS because drivers are hard to come by(we are very selective in who we hire) and we are in a new truck shortage industrywide( due to parts and chips) . We are now sending our old units out for engine replacement(smart move) and other critical components for $50K with tractors that are still highly servicable. New trucks come in at around $150K . This is happening at the 900k mile range. we'll get another 400 to 500k miles before we sell them.
Things WILL settle. eventually. what it looks like on the back end, who knows.
Interesting. Thank you for the post.
Forgot to add, we are at freight handling capacity for our driver and dock worker level. AND we are still growing in a measured way. Very smart ownership. Pay cash for everything!!!!!
Interesting stuff, M! I'm fascinated that you get so many miles out of a truck. I had no idea! Odd that more vehicles don't get that kind of mileage. In the late 70's I had an old Ford Econoline van. That thing was a work horse and must have had a good 400 to 500K miles on it and was still going strong when I gave it to my brother in his time of need. Nowadays, I'm hoping to squeeze 300 to 400K out of my Prius. Everything else I've had crapped out before that. And here you are with trucks getting up to 900K! Amazing!
There are trucks on the road with 4 million or more. timely maintenace and care and thats what you can get. Ours are usually shared trucks. Average miles my shift drive is 125K a year. day shift can add about 50K to that total give or take. we do monthly service schedule that extends our warranties. we then sell with some warranty left at roughly 5 years or so or relegate them to spare duty or city only work. . covid changed all that.
My current truck was just assigned. its a 2016 built with a fresh remanufactured engine(essentially zero miles on it) with some other new components like a radiator and the like. Currently its been in our shop getting suspension work done. otherwise theres faded paint and some surface rust and cast steel and iron components along the frame. no biggie.
4 Million!!! Now that is "built tough"!
Sorry for getting a bit (or a lot) off topic, but this is a thing that really bugs me. Cars could be getting the same. I used to know this guy who was really big into the cars and the car industry and he held to the notion that there was no reason cars could not be made to last up to one million miles before needing any major repairs. I would LOVE that!
There’s actually lots of valid reasons why cars don’t get the same lifespan as a semi. For one, how many years would it take you to drive a million miles? It could take the average person 60 years or more. Gaskets and other parts will oxidize and wear out long before that. Another reason is the engine in a semi is built very differently. It’s like 5 or 6 times the size of the typical car engine, which helps is last longer. An engine that size would would look a little silly on a Prius, but maybe it’d last you 200 years. As long as you rebuild the engine every 20 years to replace all the gaskets. Then factor how much a semi are highway miles vs a personal car in stop and go city traffic.
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brianlux
Moving through All Kinds of Terrain. Posts: 40,680
Anyone see 2000 mules yet? I know I’m looking forward to it!
I seem like the fool since I voted for Biden and it’s certainly destroying my savings
Which policy do you think did that?
Oh that’s right. I forgot dems are just victims of circumstance. How about the extra payments to everyone that didn’t need them? It’s freakin nuts that we can’t find a freakin leader or party that lets everyone be themselves at home and stops fucking around with other peoples $
So the first two stimulus and PPP had no effect on your savings, but the last one did. Makes sense.
You can say, oh blah blah better than Trump, but elections are choices. You had three of them. Biden, Trump or stay home. You can whine and complain about your choices but that doesn't change them. And if you think that the Feb stimulus is why oil is $109 a barrel, then you should go back to watching pillow commercials and how to stop the steal.
They all did. I said as much, then Biden have even more $ away.
Seriously…pillows and stop the steal? If that is all you got…. Such a stupid response
Hey man, do you think that's why oil is $109? It's just about as silly as blaming inflation on the last stimulus, but it's even more obvious. You have made no argument as to how the Feb stimulus is the cause for inflation, yet you blame Biden and that's the policy you pointed to. That's the stupid argument right there. It's the Fox News argument that has no empirical basis. Come back with something rooted in data and then we can go from there.
I have no interest in talking with you at all. You went straight to my pillow and stop the steal.
Sorry I wounded you. Does that mean you do think Biden is the reason gas is so expensive?
My only thought is would people be so “it’s not the presidents fault” during the last year if Trump was in office? That’s not me blaming Biden. It is BAD right now yet the Trump thread has more action than this one. It just feels like people have a real problem being critical sometimes of their “team”.
Every time I order something for my store it’s up 28-70%. I honestly don’t know how people are surviving right now. Do you see this getting better anytime soon? I can’t remember ever getting a notice from my vendors that there is an upcoming decrease on prices. Is this the new norm? Something as simple as a tube of silicone that sold for 5.99 is now 8.99.
maybe it is the new norm. we'll see. the dumbest shit randomly disappears from grocery store shelves. only to reappear weeks later. supply chain disruptions arent a joke. see this is where capitalism is most felt. demand is greater than supply right now. folks are earning higher wages(a good thing imo), have more cash to spend and boom not enough supply coupled with no more restrictions due to covid.
this in conjunction with so much of our goods coming from china (and elsewhere)as they continue to grapple with outbreaks and shutdowns. which are happening in their manufacturing cities. 10 million plus people per city.....
Add in all those damn immigrants documented or not , not stealing all the unfilled jobs right now......
This leads to another question, have prices been artificailly low BECAUSE of our reliance on China for supply? Been hearing for a long time how costs WILL go up when we make more here at home. Add in fuel costs for diesel with OPEC not increasing output.
I work for a midwestern regional ltl trucking company. our terminals sales staff has been confined to the office since covid and after. NO NEW BUSINESS because drivers are hard to come by(we are very selective in who we hire) and we are in a new truck shortage industrywide( due to parts and chips) . We are now sending our old units out for engine replacement(smart move) and other critical components for $50K with tractors that are still highly servicable. New trucks come in at around $150K . This is happening at the 900k mile range. we'll get another 400 to 500k miles before we sell them.
Things WILL settle. eventually. what it looks like on the back end, who knows.
Interesting. Thank you for the post.
Forgot to add, we are at freight handling capacity for our driver and dock worker level. AND we are still growing in a measured way. Very smart ownership. Pay cash for everything!!!!!
Interesting stuff, M! I'm fascinated that you get so many miles out of a truck. I had no idea! Odd that more vehicles don't get that kind of mileage. In the late 70's I had an old Ford Econoline van. That thing was a work horse and must have had a good 400 to 500K miles on it and was still going strong when I gave it to my brother in his time of need. Nowadays, I'm hoping to squeeze 300 to 400K out of my Prius. Everything else I've had crapped out before that. And here you are with trucks getting up to 900K! Amazing!
There are trucks on the road with 4 million or more. timely maintenace and care and thats what you can get. Ours are usually shared trucks. Average miles my shift drive is 125K a year. day shift can add about 50K to that total give or take. we do monthly service schedule that extends our warranties. we then sell with some warranty left at roughly 5 years or so or relegate them to spare duty or city only work. . covid changed all that.
My current truck was just assigned. its a 2016 built with a fresh remanufactured engine(essentially zero miles on it) with some other new components like a radiator and the like. Currently its been in our shop getting suspension work done. otherwise theres faded paint and some surface rust and cast steel and iron components along the frame. no biggie.
4 Million!!! Now that is "built tough"!
Sorry for getting a bit (or a lot) off topic, but this is a thing that really bugs me. Cars could be getting the same. I used to know this guy who was really big into the cars and the car industry and he held to the notion that there was no reason cars could not be made to last up to one million miles before needing any major repairs. I would LOVE that!
There’s actually lots of valid reasons why cars don’t get the same lifespan as a semi. For one, how many years would it take you to drive a million miles? It could take the average person 60 years or more. Gaskets and other parts will oxidize and wear out long before that. Another reason is the engine in a semi is built very differently. It’s like 5 or 6 times the size of the typical car engine, which helps is last longer. An engine that size would would look a little silly on a Prius, but maybe it’d last you 200 years. As long as you rebuild the engine every 20 years to replace all the gaskets. Then factor how much a semi are highway miles vs a personal car in stop and go city traffic.
I'm convinced I need to do two things:
1. Live to be at least 105 AND maintain my driver's license.
2. Trade my Prius in for a Freightliner!
“The fear of death follows from the fear of life. A man [or woman] who lives fully is prepared to die at any time.”
Anyone see 2000 mules yet? I know I’m looking forward to it!
I seem like the fool since I voted for Biden and it’s certainly destroying my savings
Which policy do you think did that?
Oh that’s right. I forgot dems are just victims of circumstance. How about the extra payments to everyone that didn’t need them? It’s freakin nuts that we can’t find a freakin leader or party that lets everyone be themselves at home and stops fucking around with other peoples $
So the first two stimulus and PPP had no effect on your savings, but the last one did. Makes sense.
You can say, oh blah blah better than Trump, but elections are choices. You had three of them. Biden, Trump or stay home. You can whine and complain about your choices but that doesn't change them. And if you think that the Feb stimulus is why oil is $109 a barrel, then you should go back to watching pillow commercials and how to stop the steal.
They all did. I said as much, then Biden have even more $ away.
Seriously…pillows and stop the steal? If that is all you got…. Such a stupid response
Hey man, do you think that's why oil is $109? It's just about as silly as blaming inflation on the last stimulus, but it's even more obvious. You have made no argument as to how the Feb stimulus is the cause for inflation, yet you blame Biden and that's the policy you pointed to. That's the stupid argument right there. It's the Fox News argument that has no empirical basis. Come back with something rooted in data and then we can go from there.
I have no interest in talking with you at all. You went straight to my pillow and stop the steal.
Sorry I wounded you. Does that mean you do think Biden is the reason gas is so expensive?
I never mentioned gas. Wounded me? No more like outted yourself. Straight to the stupid stuff...makes it tough to actually have a conversation.
Oh whatever, I outed myself. You make a statement that you did not ground. I said that's kind of silly and asked if you believed something even sillier like about the gas, and if you did that's kind of My Pillow stuff. And now the snowflakey stuff starts.
Ah, now snowflakey.....you are on a roll.
Ok, let's reset. I've lost more $ (unrealized gains, etc of course) over the last 5 months than I've actually made in wages in the last 12 months. That is a problem.
There are external issues at hand that certainly are major factors, mostly the Pandemic and the War. Biden was not in charge during the entire pandemic so I fully realize it is not all on him. But the government's "solution" to the pandemic under both presidents has been far from ideal. Short-term thinking and just really dumb spending for what....votes.
The war is out of the control of the president and certainly a major factor for gas prices and thus prices of many commodities. The cost of everything is pretty crazy right now. There are lots of job opportunities for sure, but no one willing to fill it seems.
So - I am disappointed in Biden's first year though of his response. I think his massive spending plan (not passed) would not help, but hurt. Haven't seen much get done to help at all...and I do realize that congress is a cesspool that is slowing or stopping some progress. But That doesn't mean the person in charge gets a pass.
It's been a big hurt to retirement funds for everyone. And if you are in power, you are going to share in the blame. So - I am not happy with Biden's performance on most issues at all. And if it's trump vs Biden in 2024 again....man what an awful scenario.
One thing to keep in mind is that inflation issues right now are global, not local. Domestic policies like stimulus and PPP are not the reasons why UK, France, Germany, etc. are experiencing inflation just like we are. This is a global issue, first driven by supply chain, then lack of workers and now Ukraine. It's a confluence of negative effects. And the market is seeing the lower GDP as a risk, triggering a sell off. So now we are all down in our portfolios and paying more. Nothing about this is particularly surprising or mysterious.
Global leads to energy being a main culprit, right?
We are basically at peak oil now, because 2021 was the worst year for new discoveries since 1946 and cash to invest is scarce. Investors are not willing in the current “green” climate to put down big money on fossil fuel and neither is the party in charge likely to create incentive to invest. They are more interested in renewable investments, but that will not help the current energy problem.
So, in a way, democrats are somewhat to blame, @nicknyr15 had a very reasonable point earlier. Sorry if I jumped into a 1:1 here
Anyone see 2000 mules yet? I know I’m looking forward to it!
I seem like the fool since I voted for Biden and it’s certainly destroying my savings
Which policy do you think did that?
Oh that’s right. I forgot dems are just victims of circumstance. How about the extra payments to everyone that didn’t need them? It’s freakin nuts that we can’t find a freakin leader or party that lets everyone be themselves at home and stops fucking around with other peoples $
So the first two stimulus and PPP had no effect on your savings, but the last one did. Makes sense.
You can say, oh blah blah better than Trump, but elections are choices. You had three of them. Biden, Trump or stay home. You can whine and complain about your choices but that doesn't change them. And if you think that the Feb stimulus is why oil is $109 a barrel, then you should go back to watching pillow commercials and how to stop the steal.
They all did. I said as much, then Biden have even more $ away.
Seriously…pillows and stop the steal? If that is all you got…. Such a stupid response
Hey man, do you think that's why oil is $109? It's just about as silly as blaming inflation on the last stimulus, but it's even more obvious. You have made no argument as to how the Feb stimulus is the cause for inflation, yet you blame Biden and that's the policy you pointed to. That's the stupid argument right there. It's the Fox News argument that has no empirical basis. Come back with something rooted in data and then we can go from there.
I have no interest in talking with you at all. You went straight to my pillow and stop the steal.
Sorry I wounded you. Does that mean you do think Biden is the reason gas is so expensive?
I never mentioned gas. Wounded me? No more like outted yourself. Straight to the stupid stuff...makes it tough to actually have a conversation.
Oh whatever, I outed myself. You make a statement that you did not ground. I said that's kind of silly and asked if you believed something even sillier like about the gas, and if you did that's kind of My Pillow stuff. And now the snowflakey stuff starts.
Ah, now snowflakey.....you are on a roll.
Ok, let's reset. I've lost more $ (unrealized gains, etc of course) over the last 5 months than I've actually made in wages in the last 12 months. That is a problem.
There are external issues at hand that certainly are major factors, mostly the Pandemic and the War. Biden was not in charge during the entire pandemic so I fully realize it is not all on him. But the government's "solution" to the pandemic under both presidents has been far from ideal. Short-term thinking and just really dumb spending for what....votes.
The war is out of the control of the president and certainly a major factor for gas prices and thus prices of many commodities. The cost of everything is pretty crazy right now. There are lots of job opportunities for sure, but no one willing to fill it seems.
So - I am disappointed in Biden's first year though of his response. I think his massive spending plan (not passed) would not help, but hurt. Haven't seen much get done to help at all...and I do realize that congress is a cesspool that is slowing or stopping some progress. But That doesn't mean the person in charge gets a pass.
It's been a big hurt to retirement funds for everyone. And if you are in power, you are going to share in the blame. So - I am not happy with Biden's performance on most issues at all. And if it's trump vs Biden in 2024 again....man what an awful scenario.
One thing to keep in mind is that inflation issues right now are global, not local. Domestic policies like stimulus and PPP are not the reasons why UK, France, Germany, etc. are experiencing inflation just like we are. This is a global issue, first driven by supply chain, then lack of workers and now Ukraine. It's a confluence of negative effects. And the market is seeing the lower GDP as a risk, triggering a sell off. So now we are all down in our portfolios and paying more. Nothing about this is particularly surprising or mysterious.
Global leads to energy being a main culprit, right?
We are basically at peak oil now, because 2021 was the worst year for new discoveries since 1946 and cash to invest is scarce. Investors are not willing in the current “green” climate to put down big money on fossil fuel and neither is the party in charge likely to create incentive to invest. They are more interested in renewable investments, but that will not help the current energy problem.
So, in a way, democrats are somewhat to blame, @nicknyr15 had a very reasonable point earlier. Sorry if I jumped into a 1:1 here
Oil commodities are not at peak because of a slow reserves discovery year. The market price are short term prices based on the current pumping. That pumping is fundamentally controlled by OPEC and OPEC + (including Russia). The article you're quoting didn't even attempt to link the discovery to new prices.
Even if the R party provided subsidies, it wouldn't make a lick of difference in the price today. And considering this cash shortage is because they are paying dividends and reducing debt, that would be ridiculously irresponsible to do that with tax payer money
Regarding oil companies and their record profits that they're not re-investing in exploration. Hey, but lets gut their taxes! Let's go Brandon!
Following Russia's invasion of Ukraine in February, the price of oil climbed in 2022's first quarter.
Shell's adjusted earnings, for example, rose to $9.1 billion, while Exxon Mobil reported $5.48 billion in profits.
Rising prices have boosted the profits of major energy companies, further contributing to global inflation and the cost-of-living crisis.
The net profit margin of S&P 500 companies, which include energy giants such as Chevron and Exxon Mobil, in the first quarter has been running at 12.3% based on estimates and earnings reported so far, according to FactSet. That’s down from a peak of 13.1% in the second quarter of last year, but above the pre-COVID-19 level of about 11%.
“Profit margins should be coming down,” Lindsay Owens, executive director of Groundwork Collaborative, a progressive economic policy research group, previously told USA TODAY.
Instead, she noted, “they’re actually growing.”
Here's a breakdown of the profits and earnings some of the world's oil giants made in the first three months of 2022:
Shell earnings rise to $9.1 billion
In the first quarter, Shell's adjusted earnings rose to $9.1 billion from $3.2 billion in the same period last year. Net income rose to $7.3 billion from $5.8 billion in last year's first quarter.
Shell said that it would also take a $3.9 billion charge to cover the cost of exiting investments in Russia, which the London-based energy giant pledged to do after the invasion of Ukraine.
BP records $6.2 billion profit
BP posted its highest quarterly profit in over a decade – with the British energy company announcing on Tuesday that its underlying replacement cost profit rose to $6.2 billion in the first three months of this year, more than doubling the $2.6 billion from the same period last year.
BP PLC also said its net loss in the first quarter totaled $23 billion, after accounting for a write-off of its nearly 20% stake in Russian oil producer Rosneft in response to the Ukraine war.
Both BP and Shell's recent profit reports have contributed to calls in Britain for the government to impose a tax on energy companies’ windfall earnings, in hopes of helping consumers struggling with rising energy prices. Prime Minister Boris Johnson has rejected the idea , saying the tax would reduce investment in Britain during efforts to diversify the country's energy industry.
The British government’s “refusal to tax the super-profits of energy companies is completely unforgivable when people are too terrified to heat their homes,” Ed Davey, leader of the Liberal Democrats, told the Associated Press.
Exxon doubles profits from last year to $5.48 billion
At the end of April, Exxon Mobil reported $5.48 billion in profits during the first quarter of 2022 – also more than doubling its profits compared with the same period last year. Revenue for the Irving, Texas-based company was $90.5 billion, far exceeding the revenue of $59.15 billion during the same quarter in 2021.
But, after abandoning Russian operations due to the war, Exxon also took a significant hit, writing down $3.4 billion.
Also at the end of April, Chevron reported a quarterly profit of $6.26 billion, over four times its earnings of $1.4 billion in the first quarter of last year. Revenue for the San Ramon, California-based energy producer surged 41%, to $54.37 billion.
Sinopec totals $3.45 billion net profit
According to Reuters, China Petroleum & Chemical Corp, or Sinopec, reported 22.61 billion yuan ($3.45 billion) net profit under Chinese accounting standards for the first quarter of 2022, compared to 17.93 billion yuan ($2.69 billion) last year.
Regarding oil companies and their record profits that they're not re-investing in exploration. Hey, but lets gut their taxes! Let's go Brandon!
Following Russia's invasion of Ukraine in February, the price of oil climbed in 2022's first quarter.
Shell's adjusted earnings, for example, rose to $9.1 billion, while Exxon Mobil reported $5.48 billion in profits.
Rising prices have boosted the profits of major energy companies, further contributing to global inflation and the cost-of-living crisis.
The net profit margin of S&P 500 companies, which include energy giants such as Chevron and Exxon Mobil, in the first quarter has been running at 12.3% based on estimates and earnings reported so far, according to FactSet. That’s down from a peak of 13.1% in the second quarter of last year, but above the pre-COVID-19 level of about 11%.
“Profit margins should be coming down,” Lindsay Owens, executive director of Groundwork Collaborative, a progressive economic policy research group, previously told USA TODAY.
Instead, she noted, “they’re actually growing.”
Here's a breakdown of the profits and earnings some of the world's oil giants made in the first three months of 2022:
Shell earnings rise to $9.1 billion
In the first quarter, Shell's adjusted earnings rose to $9.1 billion from $3.2 billion in the same period last year. Net income rose to $7.3 billion from $5.8 billion in last year's first quarter.
Shell said that it would also take a $3.9 billion charge to cover the cost of exiting investments in Russia, which the London-based energy giant pledged to do after the invasion of Ukraine.
BP records $6.2 billion profit
BP posted its highest quarterly profit in over a decade – with the British energy company announcing on Tuesday that its underlying replacement cost profit rose to $6.2 billion in the first three months of this year, more than doubling the $2.6 billion from the same period last year.
BP PLC also said its net loss in the first quarter totaled $23 billion, after accounting for a write-off of its nearly 20% stake in Russian oil producer Rosneft in response to the Ukraine war.
Both BP and Shell's recent profit reports have contributed to calls in Britain for the government to impose a tax on energy companies’ windfall earnings, in hopes of helping consumers struggling with rising energy prices. Prime Minister Boris Johnson has rejected the idea , saying the tax would reduce investment in Britain during efforts to diversify the country's energy industry.
The British government’s “refusal to tax the super-profits of energy companies is completely unforgivable when people are too terrified to heat their homes,” Ed Davey, leader of the Liberal Democrats, told the Associated Press.
Exxon doubles profits from last year to $5.48 billion
At the end of April, Exxon Mobil reported $5.48 billion in profits during the first quarter of 2022 – also more than doubling its profits compared with the same period last year. Revenue for the Irving, Texas-based company was $90.5 billion, far exceeding the revenue of $59.15 billion during the same quarter in 2021.
But, after abandoning Russian operations due to the war, Exxon also took a significant hit, writing down $3.4 billion.
Also at the end of April, Chevron reported a quarterly profit of $6.26 billion, over four times its earnings of $1.4 billion in the first quarter of last year. Revenue for the San Ramon, California-based energy producer surged 41%, to $54.37 billion.
Sinopec totals $3.45 billion net profit
According to Reuters, China Petroleum & Chemical Corp, or Sinopec, reported 22.61 billion yuan ($3.45 billion) net profit under Chinese accounting standards for the first quarter of 2022, compared to 17.93 billion yuan ($2.69 billion) last year.
Republicans do the same thing so I'm not trying to say that they don't but Democrats are usually the party that parade around talking about environmental issues.
Comments
Does anyone remember deficits?
Libtardaplorable©. And proud of it.
Brilliantati©
BTW, inflation decreased last month. This just hit the wire. Inflation is almost all driven by energy costs. Everything trickles from there. Until the war is over, I don't see how energy comes down materially, therefore prices likely won't either.
Not today Sir, Probably not tomorrow.............................................. bayfront arena st. pete '94
you're finally here and I'm a mess................................................... nationwide arena columbus '10
memories like fingerprints are slowly raising.................................... first niagara center buffalo '13
another man ..... moved by sleight of hand...................................... joe louis arena detroit '14
Forgot to add, we are at freight handling capacity for our driver and dock worker level. AND we are still growing in a measured way. Very smart ownership. Pay cash for everything!!!!!
Not today Sir, Probably not tomorrow.............................................. bayfront arena st. pete '94
you're finally here and I'm a mess................................................... nationwide arena columbus '10
memories like fingerprints are slowly raising.................................... first niagara center buffalo '13
another man ..... moved by sleight of hand...................................... joe louis arena detroit '14
Interesting stuff, M! I'm fascinated that you get so many miles out of a truck. I had no idea! Odd that more vehicles don't get that kind of mileage. In the late 70's I had an old Ford Econoline van. That thing was a work horse and must have had a good 400 to 500K miles on it and was still going strong when I gave it to my brother in his time of need. Nowadays, I'm hoping to squeeze 300 to 400K out of my Prius. Everything else I've had crapped out before that. And here you are with trucks getting up to 900K! Amazing!
There are no kings inside the gates of eden
Ok, let's reset. I've lost more $ (unrealized gains, etc of course) over the last 5 months than I've actually made in wages in the last 12 months. That is a problem.
There are external issues at hand that certainly are major factors, mostly the Pandemic and the War. Biden was not in charge during the entire pandemic so I fully realize it is not all on him. But the government's "solution" to the pandemic under both presidents has been far from ideal. Short-term thinking and just really dumb spending for what....votes.
The war is out of the control of the president and certainly a major factor for gas prices and thus prices of many commodities. The cost of everything is pretty crazy right now. There are lots of job opportunities for sure, but no one willing to fill it seems.
So - I am disappointed in Biden's first year though of his response. I think his massive spending plan (not passed) would not help, but hurt. Haven't seen much get done to help at all...and I do realize that congress is a cesspool that is slowing or stopping some progress. But That doesn't mean the person in charge gets a pass.
It's been a big hurt to retirement funds for everyone. And if you are in power, you are going to share in the blame. So - I am not happy with Biden's performance on most issues at all. And if it's trump vs Biden in 2024 again....man what an awful scenario.
“If you wanted to kill a bunch of MAGA voters in the middle of the heartland, how better than to target them and their kids with this deadly fentanyl? … It does look intentional. It’s like Joe Biden wants to punish the people who didn’t vote for him and opening up the floodgates to the border is one way to do it.”
— GOP Senate candidate J.D. Vance, in an interview with Jim Hoft of Gateway Pundit, April 29
Shortly before he won the Republican primary for Ohio’s Senate race, Vance made this startling observation. Vance, the author of “Hillbilly Elegy” and a conservative commentator, argued that President Biden’s border policies had reverberated across the country, allowing not only undocumented immigrants but also deadly drugs to flow into the country — with a nefarious purpose. He suggested that Biden was intentionally allowing drugs such as fentanyl to flood the United States with the intention of trying to kill supporters of former president Donald Trump in the “heartland” of the country.
More seizures could mean Border Patrol is doing a better job. Or they could mean more drugs are flowing into the country. Or the numbers may mean nothing when viewed in isolation. If data on increased seizures was coupled with a decline in drug availability, that would suggest that law enforcement is taking a greater percentage of drugs off the street. But as of 2019, availability of fentanyl remains high, according to the 2020 National Drug Threat Assessment, and there is little sign availability had declined since then.
But with those caveats, we find that, according to the monthly reports posted by CBP, 7,267 pounds of fentanyl were seized in 2020, the last year of the Trump administration. Meanwhile, 10,753 pounds were seized in 2021, the first year of the Biden administration. That’s an increase of almost 50 percent in just one year.
During Trump’s four years, however, seizures of fentanyl increased 592 percent, according to the Department of Homeland Security inspector general.
“Under the Biden-Harris Administration, DHS has interdicted more drugs and disrupted more smuggling operations than ever before,” a department spokesperson said in a statement. “In fiscal year 2021, HSI [Homeland Security Investigations] Special Agents conducted 12,920 criminal arrests and seized over 2.4 million pounds of narcotics, which included 14,530 pounds of fentanyl. This compares to FY 2020 seizures of more than 1.4 million pounds, including 6,105 pounds of fentanyl. In addition, HSI Special Agents seized more than $188 million in total currency and assets. In FY 2021, CBP seized 900,000 pounds of narcotics, a significant increase over the previous year.”
As we said, whether these numbers mean much is open to question. But it’s the best data we have.
“The increase in seizures tells us that law enforcement is making more seizures,” said Katharine Neill Harris, a drug policy expert at Rice University’s Baker Institute for Public Policy. She said she was not aware of a formula that would extrapolate from seizure size to true drug availability. “In any event,” she added, “changing border policies are not going to stop drug-trafficking organizations from getting drugs into the United States.”
“Fentanyl seizure rates are notoriously sketchy in part because the drug is so compact and easy to smuggle and crackdowns often lead to the substitution effect (which is how cracking down on heroin helped spur fentanyl and its analogs) by incentivizing even more potent analogs like carfentanil (AKA elephant tranquilizer),” Sanho Tree, director of the Drug Policy Project at the Institute for Policy Studies, said in an email. He added that seizures may have been higher during the coronavirus pandemic because border agents had more time to inspect vehicles.
As for drug overdoses, about 70 percent of which result from opioids such as fentanyl, they increased sharply during the Trump years — in particular, after the start of the coronavirus pandemic. Data from the Centers for Disease Control and Prevention, which publishes provisional numbers on overdoses, shows that 65,571 people died in the United States of drug overdoses in the 12-month period ending January 2017, compared with 94,738 in the 12 months ending January 2021. That’s an increase of 45 percent under Trump.
We do not yet have a full year of data for Biden, but 102,568 people died of overdoses in the 12 months ending in November. That’s an increase, but at a slower rate than under Trump. So there’s little to indicate that Biden’s policies are causing a spike in overdose deaths. (Update: after this fact check was published, the CDC released full-year data showing estimated 107,622 drug overdose deaths took place in 2021, an increase of 15 percent.)
If you isolate the CDC data just for deaths from opioids, they spiked 63 percent under Trump and 8.5 percent in the first 11 months of Biden’s term.
In other words, Vance is putting the blame on Biden for a problem that got significantly worse under Trump.
Finally, there’s Vance’s assertion that the fentanyl epidemic is aimed at “MAGA voters” in the Midwest, who are typically White and not Hispanic. The data shows this is also bunk. Overdose deaths have increased the most among people of color, with Black men now having the highest rate of overdoses. That’s probably not your typical Trump voter, as Black Americans overwhelmingly voted for Biden.
There were 54.1 fatal drug overdoses for every 100,000 Black men in the United States in 2020, according to Pew Research Center, compared with 44.2 for White men and 27.3 for Hispanic men. Pew said the death rate among Black men more than tripled (213 percent) from 2015 to 2020, compared with a 69 percent increase for White men in the same period.
The raw numbers sometimes disguise these disparities. In 2020, Ohio had more opioid overdose deaths than any state but much larger California — and 80 percent of the opioid deaths were among Whites. But the opioid overdose death rate in the state still was higher for Black people than Whites or Hispanics, according to data published by the Kaiser Family Foundation.
J.D. Vance’s claim that Biden is targeting ‘MAGA voters’ with fentanyl - The Washington Post
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There are no kings inside the gates of eden
Not today Sir, Probably not tomorrow.............................................. bayfront arena st. pete '94
you're finally here and I'm a mess................................................... nationwide arena columbus '10
memories like fingerprints are slowly raising.................................... first niagara center buffalo '13
another man ..... moved by sleight of hand...................................... joe louis arena detroit '14
Here’s a little Thursday morning reminder: After repeating the same tired talking points, and even cheering for higher costs for families, Republicans *still* don’t have a plan to lower costs. While President Biden and Democrats have laid out clear steps to address inflation and reduce the health care, child care, and prescription drug costs that working families struggle with, Republicans are content to do absolutely nothing.
Republicans have no plan or policy agenda to combat inflation, and they’re rooting against our economic recovery to score cheap political points.
And don’t forget, House Republicans unanimously voted against President Biden’s Build Back Better plan, which economists say would address price increases.
Economists predict that inflation will improve as supply chain issues show further signs of easing.
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In the fourth quarter of 2021, corporate profit growth did slow sharply, rising just 0.7% from the previous quarter. Still, in every quarter of 2021, U.S. corporations’ overall profit margin remained above 13%, a level reached during only one previous quarter in the past 70 years.
U.S. companies posted record profits in 2021, jacking up prices as inflation surged | Fortune
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Corporate profits have contributed disproportionately to inflation. How should policymakers respond?
The inflation spike of 2021 and 2022 has presented real policy challenges. In order to better understand this policy debate, it is imperative to look at prices and how they are being affected.
The price of just about everything in the U.S. economy can be broken down into the three main components of cost. These include labor costs, nonlabor inputs, and the “mark-up” of profits over the first two components. Good data on these separate cost components exist for the nonfinancial corporate (NFC) sector—those companies that produce goods and services—of the economy, which makes up roughly 75% of the entire private sector.
Since the trough of the COVID-19 recession in the second quarter of 2020, overall prices in the NFC sector have risen at an annualized rate of 6.1%—a pronounced acceleration over the 1.8% price growth that characterized the pre-pandemic business cycle of 2007–2019. Strikingly, over half of this increase (53.9%) can be attributed to fatter profit margins, with labor costs contributing less than 8% of this increase. This is not normal. From 1979 to 2019, profits only contributed about 11% to price growth and labor costs over 60%, as shown in Figure A below. Nonlabor inputs—a decent indicator for supply-chain snarls—are also driving up prices more than usual in the current economic recovery.
Corporate profits have contributed disproportionately to inflation. How should policymakers respond? | Economic Policy Institute (epi.org)
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For one, how many years would it take you to drive a million miles? It could take the average person 60 years or more. Gaskets and other parts will oxidize and wear out long before that.
Another reason is the engine in a semi is built very differently. It’s like 5 or 6 times the size of the typical car engine, which helps is last longer. An engine that size would would look a little silly on a Prius, but maybe it’d last you 200 years. As long as you rebuild the engine every 20 years to replace all the gaskets.
Then factor how much a semi are highway miles vs a personal car in stop and go city traffic.
So, in a way, democrats are somewhat to blame, @nicknyr15 had a very reasonable point earlier. Sorry if I jumped into a 1:1 here
https://qz.com/2107452/oil-and-gas-discoveries-are-at-the-lowest-level-since-1946/
Even if the R party provided subsidies, it wouldn't make a lick of difference in the price today. And considering this cash shortage is because they are paying dividends and reducing debt, that would be ridiculously irresponsible to do that with tax payer money
"Well, you tell him that I don't talk to suckas."
The net profit margin of S&P 500 companies, which include energy giants such as Chevron and Exxon Mobil, in the first quarter has been running at 12.3% based on estimates and earnings reported so far, according to FactSet. That’s down from a peak of 13.1% in the second quarter of last year, but above the pre-COVID-19 level of about 11%.
“Profit margins should be coming down,” Lindsay Owens, executive director of Groundwork Collaborative, a progressive economic policy research group, previously told USA TODAY.
Instead, she noted, “they’re actually growing.”
Here's a breakdown of the profits and earnings some of the world's oil giants made in the first three months of 2022:
Shell earnings rise to $9.1 billion
In the first quarter, Shell's adjusted earnings rose to $9.1 billion from $3.2 billion in the same period last year. Net income rose to $7.3 billion from $5.8 billion in last year's first quarter.
Shell said that it would also take a $3.9 billion charge to cover the cost of exiting investments in Russia, which the London-based energy giant pledged to do after the invasion of Ukraine.
BP records $6.2 billion profit
BP posted its highest quarterly profit in over a decade – with the British energy company announcing on Tuesday that its underlying replacement cost profit rose to $6.2 billion in the first three months of this year, more than doubling the $2.6 billion from the same period last year.
BP PLC also said its net loss in the first quarter totaled $23 billion, after accounting for a write-off of its nearly 20% stake in Russian oil producer Rosneft in response to the Ukraine war.
Both BP and Shell's recent profit reports have contributed to calls in Britain for the government to impose a tax on energy companies’ windfall earnings, in hopes of helping consumers struggling with rising energy prices. Prime Minister Boris Johnson has rejected the idea , saying the tax would reduce investment in Britain during efforts to diversify the country's energy industry.
The British government’s “refusal to tax the super-profits of energy companies is completely unforgivable when people are too terrified to heat their homes,” Ed Davey, leader of the Liberal Democrats, told the Associated Press.
Exxon doubles profits from last year to $5.48 billion
At the end of April, Exxon Mobil reported $5.48 billion in profits during the first quarter of 2022 – also more than doubling its profits compared with the same period last year. Revenue for the Irving, Texas-based company was $90.5 billion, far exceeding the revenue of $59.15 billion during the same quarter in 2021.
But, after abandoning Russian operations due to the war, Exxon also took a significant hit, writing down $3.4 billion.
Exxon profit:As gas prices soared, Exxon Mobil doubled profits from last year to $5.48 billion
Chevron reports $6.26 billion profit
Also at the end of April, Chevron reported a quarterly profit of $6.26 billion, over four times its earnings of $1.4 billion in the first quarter of last year. Revenue for the San Ramon, California-based energy producer surged 41%, to $54.37 billion.
Sinopec totals $3.45 billion net profit
According to Reuters, China Petroleum & Chemical Corp, or Sinopec, reported 22.61 billion yuan ($3.45 billion) net profit under Chinese accounting standards for the first quarter of 2022, compared to 17.93 billion yuan ($2.69 billion) last year.
Sinopec also saw a 25% surge in net income.
Phillips 66's adjusted earnings of $595 million
For the first quarter of the year, Phillips 66 reported first-quarter earnings of $582 million, with adjusted earnings of $595 million.
In 2021, Phillips 66 reported a first-quarter loss of $654 million, with an adjusted loss of $509 million.
Oil companies 2022 record profits amid Ukraine war, energy price hike (usatoday.com)
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