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

[Doc]

48 minutes ago, aristocrat said:

 

 

This is fantastic.  Trump passes bill, Biden reverses it, House reinstates it...Dems declare victory. 

 

Maybe a victory in the eye of low information individuals.

[B-Man]

 

 

 

These Democrats want us in economic misery. Why?

 

Because they care so much about ordinary Americans!

 

More proof that higher gas prices are intentional…

 

 

 

 

 

 

 

 

 

 

 

 

 

 

                                              

 

 

 

[Doc]

“Let’s release it from the strategic reserves, import it and use it, but God forbid we produce it.”

[aristocrat]

 

[Big Blitz]

 

[Buffarukus]

3 hours ago, Big Blitz said:

 

 

 

i never thought a man could afford a closet full of scarfs to wear in warm weather or 10 dollar a cup "coffee" addiction either. all things seem possible through liberalism. 

[B-Man]

 

The jobs report was so awesome that Biden wouldn’t take any questions about it

 

 

 

 

 

 

 

 

 

 

[B-Man]

 

 

 

 

Yep, that about explains it!

 

And of course most people aren’t buying the Biden administration’s disingenuous “jobs created” BS when they are in fact jobs restored after shutdowns.

 

 

[B-Man]

 

 

 

THAT’S NOT EVEN CLOSE TO HIS PERSONAL BEST: 

 

It Took Just Four Days For Biden’s Oil Price Scheme To Go Up In Smoke.

 

The Brent crude index, the global oil benchmark, increased to $108.07 per barrel Monday morning, surging more than 3.1% overnight. The U.S. WTI index skyrocketed more than 3.4% past $103 per barrel Monday.

 

“Will the release of barrels from strategic reserves fill a shortfall caused by sanctions and buyer aversion to Russian oil? In a word, no,” Stephen Brennock, an analyst at PVM Oil Associates, told Reuters.

 

Biden announced Thursday that he ordered the Department of Energy to release a million barrels of oil stored in the Strategic Petroleum Reserve (SPR) every day for six months. The following day, the International Energy Agency said its 31 member nations pledged their own separate release of 62.7 million additional barrels of oil.

 

The US uses about 18 million barrels of oil each day, and every trader knows that at some point we’ll have to refill the SPR.

 

https://dailycaller.com/2022/04/04/joe-biden-strategic-petroleum-reserve-oil-gasoline-prices/

 

 

 

[ALF]

Fed needs to provide long term incentives to energy companies to produce enough oil and gas or tax the hell out of there profits.

[B-Man]

 

 

 

 

Just throw money at it ! -- House democrats.

[ALF]

10 hours ago, B-Man said:

 

 

 

 

Just throw money at it ! -- House democrats.

 

Not likely to pass in the Senate because of inflation. House D know they are toast in midterms so will try this way.

 

Lockdowns in Shanghai and other Chinese cities pose a growing threat to the economy

 

Hong Kong (CNN Business)China's unwavering commitment to stamping out Covid by locking down big cities such as Shanghai threatens to deal a hefty shock to its vast economy, place more strain on global supply chains and further fuel inflation.

Shanghai — home to China's leading financial center and some of its largest sea and airports — has been under lockdown for 12 days, and there's no sign of it ending.

 

https://www.cnn.com/2022/04/08/business/china-shanghai-covid-lockdown-economic-impact-intl-hnk/index.html

Edited April 8, 2022 by ALF

[B-Man]

On 4/8/2022 at 12:33 AM, ALF said:

Lockdowns in Shanghai and other Chinese cities pose a growing threat to the economy

 

Hong Kong (CNN Business)China's unwavering commitment to stamping out Covid by locking down big cities such as Shanghai threatens to deal a hefty shock to its vast economy, place more strain on global supply chains and further fuel inflation.

Shanghai — home to China's leading financial center and some of its largest sea and airports — has been under lockdown for 12 days, and there's no sign of it ending.

 

https://www.cnn.com/2022/04/08/business/china-shanghai-covid-lockdown-economic-impact-intl-hnk/index.html

 

 

The possibility for violence increases.

 

[B-Man]

 

 

 

Jen Psaki reminds Americans to direct their anger at Putin, and only Putin, when they see tomorrow’s ‘extraordinarily elevated’ inflation data

 

 

Man, if we were Jen Psaki, we’d be checking off every single day on our calendar until we could blow the White House popsicle stand and retreat to the safety of MSNBC. Because we seriously don’t know how she’s able to get herself out of bed in the morning, knowing that she’s gonna have to stand  up there at that podium and tell whoppers so big that even reporters at liberal media outlets are struggling to swallow them without nearly choking to death.

 

Check out what she had to say at today’s press briefing about inflation numbers:

 

 

 

A world in which Joe Biden, the President of the United States, refuses to take any responsibility for all the ways he’s screwed us over and will continue to screw us over.

 

https://twitchy.com/sarahd-313035/2022/04/11/jen-psaki-reminds-americans-to-direct-their-anger-at-putin-and-only-putin-when-they-see-tomorrows-extraordinarily-elevated-inflation-data-videos/

 

 

[BuffaninSarasota]

5 minutes ago, B-Man said:

 

 

 

Jen Psaki reminds Americans to direct their anger at Putin, and only Putin, when they see tomorrow’s ‘extraordinarily elevated’ inflation data

 

 

Man, if we were Jen Psaki, we’d be checking off every single day on our calendar until we could blow the White House popsicle stand and retreat to the safety of MSNBC. Because we seriously don’t know how she’s able to get herself out of bed in the morning, knowing that she’s gonna have to stand  up there at that podium and tell whoppers so big that even reporters at liberal media outlets are struggling to swallow them without nearly choking to death.

 

Check out what she had to say at today’s press briefing about inflation numbers:

 

 

 

A world in which Joe Biden, the President of the United States, refuses to take any responsibility for all the ways he’s screwed us over and will continue to screw us over.

 

https://twitchy.com/sarahd-313035/2022/04/11/jen-psaki-reminds-americans-to-direct-their-anger-at-putin-and-only-putin-when-they-see-tomorrows-extraordinarily-elevated-inflation-data-videos/

 

 

 

aka the "Putin price hike" Joe is fond of saying. Their hubris knows no bounds.

[Big Blitz]

1 hour ago, B-Man said:

 

 

 

Jen Psaki reminds Americans to direct their anger at Putin, and only Putin, when they see tomorrow’s ‘extraordinarily elevated’ inflation data

 

 

Man, if we were Jen Psaki, we’d be checking off every single day on our calendar until we could blow the White House popsicle stand and retreat to the safety of MSNBC. Because we seriously don’t know how she’s able to get herself out of bed in the morning, knowing that she’s gonna have to stand  up there at that podium and tell whoppers so big that even reporters at liberal media outlets are struggling to swallow them without nearly choking to death.

 

Check out what she had to say at today’s press briefing about inflation numbers:

 

 

 

A world in which Joe Biden, the President of the United States, refuses to take any responsibility for all the ways he’s screwed us over and will continue to screw us over.

 

https://twitchy.com/sarahd-313035/2022/04/11/jen-psaki-reminds-americans-to-direct-their-anger-at-putin-and-only-putin-when-they-see-tomorrows-extraordinarily-elevated-inflation-data-videos/

 

 

 

 

 

These people and their voters are such f...ing trash

 

 

 

FYI - I fully expect it to come in *lower* and they'll claim it as some sort of win, for you, the little people.

Edited April 11, 2022 by Big Blitz

[B-Man]

 

U.S. Inflation Quickens to 8.5%, Ratcheting Up Pressure on Fed

 

Consumer prices rose 1.2% from February, half due to gasoline

 

Food, shelter, airfares stay elevated in broad-based gain

 

https://www.bloomberg.com/news/articles/2022-04-12/u-s-inflation-quickens-to-8-5-ratcheting-up-pressure-on-fed

 

 

[leh-nerd skin-erd]

On 3/29/2022 at 1:24 PM, Chef Jim said:

I would assume the unrealized losses would be used to offset the unrealized gains. 🤷🏻‍♂️ It would be a total accounting cluster *****.  The amount of accounting work that would be required on an annual basis to determine current market value vs basis for these wealthy people would be crazy.  And the amount of accounting shenanigans that will likely go on?  They don’t think before they throw this ***** out there.  
 

So instead of bitching I have ideas. First get rid of the step up in basis.  You inherit the basis. So if/when you sell the asset you pay gains from when the asset was originally purchased. No more inter-generational wealth being passed on via the step up. Second bring back the stretch IRA that the Trump administration did away with.  There are so many flaws in this.  I understand the reasoning was to collect tax dollars today instead of spreading it out over a lifetime.  But again, so many issues with this. Third incentivize Roth conversions.  This would alleviate the taxes lost by bringing back the stretch. Not sure how you incentivize them other than education.  But they are a great tool. 

Amazing the thoughts that come from a guy with a career in the financial sector. 
 

The governmental scam-a-lam on a traditional IRA eludes many people.  Save pennies now, get taxed on the whole nut later. Better than a stick in the eye, but a pretty nice source of tax revenue for the government. 
 

I know a fellow who converted his traditional IRAs over a couple years about 10 years ago.  Tax bill was about $800k.  Best move he ever made, he said.  
 

Meanwhile, one leg of the Dems plan to incentivize investment in one’s future is to erase the debt incurred by said people in search of enlightenment who prefer to spend their money on other things.  
 

Brilliant.  

[Tiberius]

15 hours ago, Big Blitz said:

 

 

 

These people and their voters are such f...ing trash

 

 

 

FYI - I fully expect it to come in *lower* and they'll claim it as some sort of win, for you, the little people.

No, you guys are the filth. Garbage people you are 

[B-Man]

 

 

As Prices Rise Americans Turning to Their Credit Cards.

 

'Consumer debt rose at the fastest pace in 20 years in February.”

 

 

https://schiffgold.com/key-gold-news/as-prices-rise-americans-turning-to-their-credit-cards/