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On November 24 2021 01:33 Slydie wrote:Show nested quote +On November 24 2021 00:19 LegalLord wrote:Looks like after several months of posturing about how he’s going to lower the price for gasoline, Biden finally decided to release some oil from the Strategic Petroleum Reserve. Oil prices erased losses and jumped on Tuesday morning following the announcement from the U.S. Administration that it would make available 50 million barrels of oil from the Strategic Petroleum Reserve (SPR) to lower said oil prices.
As of 9:27 a.m. EST, WTI Crude prices were back above $77, having erased earlier losses and trading up by 1.30% at $77.75. Brent Crude prices returned to the $80 mark, and were approaching $81, as they had risen by 1.73% to $80.96.
The headline for the oil market on Tuesday morning was the announcement of US President Joe Biden that the Department of Energy would release 50 million barrels of oil from the SPR in a bid to lower high gasoline prices in a coordinated effort with other major oil-consuming nations. The SPR release from the United States is being carried out in parallel with other major energy-consuming nations, including China, India, Japan, the Republic of Korea, and the United Kingdom.
Despite the seemingly big number, 50 million barrels, the U.S. release actually equals around two and a half days of American petroleum consumption, which was at 20.5 million barrels per day (bpd) in the pre-pandemic 2019. SourceProbably a drop in the bucket in the grand scheme of things, but it’s something. I honestly think there’s something more going on than high oil prices causing high gasoline prices - I don’t remember gas being this expensive before oil reached $100+ a few years ago, and it was pretty expensive a few months ago when oil was more like $40-60. A spike in demand and a global goods transport crisis together with high inflation is what goes on. It doesn't make sense to blame domestic politics for it. But if you like a powerful incentive for alternate forms of transportation and energy, it is actually great. It the crisis remains, it will be painfully obvious how unsustainable the US model is.
Inflation in the US is 2-3 percentage points higher than other developed countries. Considering the unprecedented monetary easing combined with high government deficits it's hardly surprising that we see higher inflation now. Domestic policy certainly plays a part in the current inflation numbers.
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The Fed is still taking the stance that inflation is mainly COVID related. Does this seem like a correct assessment?
Not related to us politics but turkey's inflation is spiralling out of control right now. Might be crisis looming there.
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The only thing worse than large inflation to financial folk is deflation. I don't think annual inflation would conventionally be measured below 15% or so but if you accept that number then in a few years you'll see deflation and that's very damaging for the people who think infinite growth is the only thing holding the world together.
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Ahmaud Arbury’s murderers guilty, all three.
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On November 25 2021 03:53 farvacola wrote:
Ahmaud Arbury’s murderers guilty, all three.
Yep, main murderer guilty on all charges, other two guilty on some murder charges along with other charges although neither of those two got Malice Murder. I haven’t followed the case too closely, but it seems to make sense to me and all can end up with long jail sentences.
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On November 25 2021 03:53 farvacola wrote:
Ahmaud Arbury’s murderers guilty, all three.
Thank god.
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Northern Ireland24972 Posts
Win some, you lose some.
That case definitely seemed more open and shut though, plausibly Rittenhouse could feel some cause to defend a neighbourhood with all that was going around. These folks were claiming all sorts of things that weren’t remotely backed up by others in their local community as reasonable cause for suspicion.
Speaking of Rittenhouse I believe he’s been on Tucker Carlson already, did any of you catch it?
I saw a few transcripts, not the whole thing.
The short transcripts I saw, PR guff or not were surprising, I expected a big circlejerk about gun rights and media bias. Whether genuine or not I feel Rittenhouse made some good points that if he was a young black man he might have been fucked.
Aside from other complexities I wasn’t expecting that, but not being Stateside I haven’t seen the whole thing.
Was that small snippet I saw a big deviation from the whole interview or was it a bit less obnoxious than I’d been expecting in its totality?
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United Kingdom13775 Posts
On November 25 2021 03:23 Starlightsun wrote:
The Fed is still taking the stance that inflation is mainly COVID related. Does this seem like a correct assessment?
No, they’re just in a position where they have no choice but to try to maintain that facade. To admit otherwise would mean to have to unwind a debt crisis decades in the making, and no one is willing to do that. Better to print away the debt and brush the inflation problem under the rug, maybe remove a couple of items with inflationary tendencies from the index.
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On November 25 2021 04:13 WombaT wrote:
Win some, you lose some.
That case definitely seemed more open and shut though, plausibly Rittenhouse could feel some cause to defend a neighbourhood with all that was going around. These folks were claiming all sorts of things that weren’t remotely backed up by others in their local community as reasonable cause for suspicion.
Speaking of Rittenhouse I believe he’s been on Tucker Carlson already, did any of you catch it?
I saw a few transcripts, not the whole thing.
The short transcripts I saw, PR guff or not were surprising, I expected a big circlejerk about gun rights and media bias. Whether genuine or not I feel Rittenhouse made some good points that if he was a young black man he might have been fucked.
Aside from other complexities I wasn’t expecting that, but not being Stateside I haven’t seen the whole thing.
Was that small snippet I saw a big deviation from the whole interview or was it a bit less obnoxious than I’d been expecting in its totality?
I also only caught some snippets but I heard him say he supports BLM, he worries that a young black man wouldn't have the same resources as him to defend themselves in court, that he fired his first lawyer because he believed in Qanon and election fraud, etc. Just the typical things you hear from white supremacists.
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On November 25 2021 03:53 farvacola wrote:
Ahmaud Arbury’s murderers guilty, all three. Sadly, likely only because they sabotaged the police and DA that covered it up for them.
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On November 25 2021 10:26 GreenHorizons wrote:Show nested quote +On November 25 2021 03:53 farvacola wrote:
Ahmaud Arbury’s murderers guilty, all three. Sadly, likely only because they sabotaged the police and DA that covered it up for them.
They would have gotten away with it if one of them hadn't filmed it.
Why did he do that anyway? Is there any info on why they wanted to catch their murder on camera?
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On November 25 2021 18:31 EnDeR_ wrote:Show nested quote +On November 25 2021 10:26 GreenHorizons wrote:On November 25 2021 03:53 farvacola wrote:
Ahmaud Arbury’s murderers guilty, all three. Sadly, likely only because they sabotaged the police and DA that covered it up for them. They would have gotten away with it if one of them hadn't filmed it. Why did he do that anyway? Is there any info on why they wanted to catch their murder on camera?
I think they honestly thought they were going to do good. They had been having issues with theft in the neighborhood and they were going to film themselves arresting the guy.
The guy filming probably did not expect the other guy to actually shoot the person they assumed was the crook.
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He definitely picked an odd point to bust in and be condescending about people talking about Trump and Putin, which was mostly a distraction from several pages of talking about gun violence. Whatever gives the PBU his kicks.
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On November 26 2021 04:37 Doodsmack2 wrote:
Strange, the vast majority of the last week on this thread has been a heated debate on Rittenhouse. It seemed like anything but an echo chamber. Many points of view were discussed.
We’ve also discussed BBB from a few different points of view recently.
Instead, you focus on a scant few posts dunking on another stupid Trump thing that nobody really cared about and the discussion died quickly.
Keep us updated on Durham’s glorious revolution though. It will be good for a laugh. How’s Trump’s August reinstatement going?
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On November 26 2021 05:23 Doodsmack2 wrote:
I hope some of the vocal conservative posters come back when it is heating up for the next election, but I would not call the thread and echo chamber without them. It tends to be caught up in specific subjects, though, like law regarding specific cases and economics from a philosophical pov.
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Haven't they all been banned though? xDaunt and that other guy, Danglars. The trump years wasn't a good period to have dissenting views on stuff here.
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On November 26 2021 04:37 Doodsmack2 wrote:
I hate to break this to you but youre the only one talking about Trump and Putin
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EPT
