Uncle Joe

[randylahey]

You guys seem to confuse inflation falling with it stopping. Prices are still wayyyyy higher than they were just a short time ago

[KUTradition]

yeah, when do we get to spend $0.97/gal on gas again?

[MICHHAWK]

24 is an election year. uncle joe may want to consider getting off his keester and doing something about uncle joes inflation. sooner rather than later. cause if he doesn't. it's gonna hammer him.

rather than pandering to the fringes just to get some more votes.

[randylahey]

And look at the housing market....

Interesting rates are at record highs. People cannot afford to buy houses at 7%

People that got locked into mortgages a few years ago at 2% have no reason to sell

[randylahey]

yeah, when do we get to spend $0.97/gal on gas again?

Energy prices are sky high too

Anyone that thinks biden is doing a good job with the economy is naive and off their rocker

[JKLivin]

You'd almost think shutting down commerce and printing a crap ton of free money that you give out to everyone for a couple of years wasn't a good idea or something. Go figure.

[KUTradition]

oh good…

[JKLivin]

oh good…

Biden, Kamala, and Janet Yellen. Perfect.

[randylahey]

The American people have had enough of the deep state

[Shirley]

And that makes you special?

unfortunately no....I think its impacting all of us

That was pretty snarky of me, I appreciate you not only getting my point, but not replying in kind. I went back to delete it but it was too late, and decided to get on my treadmill rather than take the time to edit it.

Nobody likes inflation, and I'm sure everyone here has at least one if not many stories to tell about how it's impacted them personally. As you realize we're not immune to the effects of the pandemic and resulting supply chain problems, or the impact of the Russian invasion of Ukraine. But, it could be worse. As of May, the US has the lowest food inflation, negative energy inflation, and near the lowest overall inflation, among the developed countries in the world.



(And despite the impact of the avian flu, eggs cost less now than they did a year ago.)

[Sparko]

Great post Feral. Inflation is lower now than it was two years ago when Biden took office, FWIW. But the invasion of Ukraine by an oil exporter who also happens to be trashing much of the world's food supply is not great. Biden deserves ample credit for moderating the bad conditions. Kamala Harris has been working on improving the standard of living for Central America as a means to reduce the refugee crisis from emigrants leaving there for the U.S. And has done a spectacular job:
https://www.dailykos.com/stories/2023/7 ... ala-Harris

[JKLivin]

Great post Feral. Inflation is lower now than it was two years ago when Biden took office, FWIW. But the invasion of Ukraine by an oil exporter who also happens to be trashing much of the world's food supply is not great. Biden deserves ample credit for moderating the bad conditions. Kamala Harris has been working on improving the standard of living for Central America as a means to reduce the refugee crisis from emigrants leaving there for the U.S. And has done a spectacular job:
https://www.dailykos.com/stories/2023/7 ... ala-Harris

Two points:
1.) Russian oil exports would be much less of an issue if Biden didn't immediately shut down Trump-era domestic drilling and pipeline initiatives. Our best policy is to be energy independent.
2.) Our job is not to improve conditions in Central America. That is Central America's job. Our job is to secure our borders and deport those here illegally.

[Shirley]

Great post Feral. Inflation is lower now than it was two years ago when Biden took office, FWIW. But the invasion of Ukraine by an oil exporter who also happens to be trashing much of the world's food supply is not great. Biden deserves ample credit for moderating the bad conditions. Kamala Harris has been working on improving the standard of living for Central America as a means to reduce the refugee crisis from emigrants leaving there for the U.S. And has done a spectacular job:
https://www.dailykos.com/stories/2023/7 ... ala-Harris

Two points:
1.) Russian oil exports would be much less of an issue if Biden didn't immediately shut down Trump-era domestic drilling and pipeline initiatives. Our best policy is to be energy independent.
2.) Our job is not to improve conditions in Central America. That is Central America's job. Our job is to secure our borders and deport those here illegally.

Sure, Randy:

Thanks, President Biden:

U.S. Oil Boom Blunts OPEC’s Pricing Power

U.S. petroleum production is on pace for a record-breaking year, helping to keep energy prices stable despite the efforts of Saudi Arabia and other major oil exporters to drive them higher.

U.S. crude output this year through April is up 9% from a year ago, surprising analysts given that oil futures were sliding and the country’s shale boom was showing signs of peaking...

As far as your 2nd "point", that's monumentally dum, even for you.

[defixione]

The American people have had enough of the deep state

Okay, I'm confused, are we supposed to believe Hunter Biden now?

[JKLivin]

Great post Feral. Inflation is lower now than it was two years ago when Biden took office, FWIW. But the invasion of Ukraine by an oil exporter who also happens to be trashing much of the world's food supply is not great. Biden deserves ample credit for moderating the bad conditions. Kamala Harris has been working on improving the standard of living for Central America as a means to reduce the refugee crisis from emigrants leaving there for the U.S. And has done a spectacular job:
https://www.dailykos.com/stories/2023/7 ... ala-Harris

Two points:
1.) Russian oil exports would be much less of an issue if Biden didn't immediately shut down Trump-era domestic drilling and pipeline initiatives. Our best policy is to be energy independent.
2.) Our job is not to improve conditions in Central America. That is Central America's job. Our job is to secure our borders and deport those here illegally.

Sure, Randy:

Thanks, President Biden:

U.S. Oil Boom Blunts OPEC’s Pricing Power

U.S. petroleum production is on pace for a record-breaking year, helping to keep energy prices stable despite the efforts of Saudi Arabia and other major oil exporters to drive them higher.

U.S. crude output this year through April is up 9% from a year ago, surprising analysts given that oil futures were sliding and the country’s shale boom was showing signs of peaking...

As far as your 2nd "point", that's monumentally dum, even for you.

In response to your first point, none of that would have been necessary if not for his boneheaded move on Day One in office.

To wit:
https://www.daines.senate.gov/2023/01/0 ... -billions/

President Biden revoked the cross-border operation permit for the project the first day he took office. The report released by the U.S. Department of Energy states the Keystone XL pipeline would have created between 16,000 and 59,000 jobs and would have had a positive economic impact of between $3.16 and $9.6 billion.

“The Biden administration finally owned up to what we have known all along—killing the Keystone XL pipeline cost good-paying jobs, hurt Montana’s economy and was the first step in the Biden administration’s war on oil and gas production in the United States. Unfortunately, the administration continues to pursue energy production anywhere but the United States. These policies may appeal to the woke Left, but hurt Montana’s working families. I’ll keep fighting back against Biden’s anti-energy agenda and supporting Montana energy projects and jobs,” Daines said.

“The Department of Energy finally admitted to the worst kept secret about the Keystone Pipeline: President Biden’s decision to cancel the Keystone XL Pipeline sacrificed thousands of American jobs. To make matters worse, his decision moved the U.S. further away from energy independence and lower gas prices at a time when inflation and gas prices are drastically impacting Americans’ pocketbooks. The President must turn to American made energy and jobs rather than dictators and despots to fix the energy crisis he created on his first day in office,”

Your response on Central America is exactly why there are so many ardent Trump supporters out there. His America first approach is a reaction to this kind of globalist approach that proved so ineffective during the Obama administration. The POTUS is not President of the world. His responsibility is to the American people first and foremost.

[jfish26]

And look at the housing market....

Interesting rates are at record highs. People cannot afford to buy houses at 7%

People that got locked into mortgages a few years ago at 2% have no reason to sell

Aren't you the one chastising people for not being informed? Because saying 7% rates are "record highs" doesn't give me a lot of confidence in how well you're informed.

[DCHawk1]

It's hilarious, actually.

I bought my first house at 7 5/8%, which our realtor assured us was an historically excellent rate.

[jfish26]

It's hilarious, actually.

I bought my first house at 7 5/8%, which our realtor assured us was an historically excellent rate.

I believe the average 30-year fixed rate over the last fifty-ish years is in fact...right around 7%. And that's taking into account the post-2008-period record lows that many of us are still enjoying.

Obviously the why of those lows is a fraught nest of policy issues in and of itself.

But anyone who would characterize 7% as a record high is...not very well informed. Someone whose "current events" clock started relatively recently (and who is not really all that curious about things that don't or didn't affect them personally).

[JKLivin]

It's hilarious, actually.

I bought my first house at 7 5/8%, which our realtor assured us was an historically excellent rate.

I believe the average 30-year fixed rate over the last fifty-ish years is in fact...right around 7%. And that's taking into account the post-2008-period record lows that many of us are still enjoying.

Obviously the why of those lows is a fraught nest of policy issues in and of itself.

But anyone who would characterize 7% as a record high is...not very well informed. Someone whose "current events" clock started relatively recently (and who is not really all that curious about things that don't or didn't affect them personally).

My parents bought the house I grew up in in 1980. The interest rate: 12%. 7% is not a big deal.

[Shirley]

It's hilarious, actually.

I bought my first house at 7 5/8%, which our realtor assured us was an historically excellent rate.

Same. Getting 7 ¾% was considered a steal.