Conquer Club

jusplay4fun wrote:
Thank God someone like Sen Joe Manchin of W. VA understands ECONOMICS

He doesn't have a clue, and neither do you.

Yeah, Alexandria has thousands and thousands of dollars, she must be good at the ecomedy.

https://legitnetworth.com/aoc-net-worth/

Dukasaur wrote:

jusplay4fun wrote:
Thank God someone like Sen Joe Manchin of W. VA understands ECONOMICS

He doesn't have a clue, and neither do you.

And is your opinion based on facts or feelings? I have read little knowledge of economics thought from you beyond your wallet or those of associates. Have you answered money supply arguments? About Economic Schools of ideas? About federal deficit (besides it will never be repaid?)? I think I read where you offered some good points about the pipelines, but little of real consequence beyond that.

I have posted much since your last and few posts on this matter. And I do not recall much refutation to what I have posted on this matter AND YOU say I am clueless. Look in the mirror, Duk. FAILURE.

If I am generous, perhaps a low D, for Dismal.

jusplay4fun wrote:
I have posted much since your last and few posts on this matter.

Quantity doesn't make up for lack of quality. Regurgitating the same old rote phrases without comprehending them does not make you a savant.

Duk wins this thread.

Dukasaur wrote:

jusplay4fun wrote:
I have posted much since your last and few posts on this matter.

Quantity doesn't make up for lack of quality. Regurgitating the same old rote phrases without comprehending them does not make you a savant.

And this is your perspicacious response? You offer the "same old rote phrases" that you accuse me of making and you offer no indication of "comprehending them." Your knowledge of economics apparently go little beyond your wallet. Your arguments are simply invalid.

I offer both quality and quantity of arguments. Your weak and pathetic attempt to dismiss the preponderance of my arguments and my analysis and quotes offered may impress the weak minded, like llama, but fails to address any of my prima facie arguments. You fail, and fail quite badly, Duk, despite the parroting of llama. Be sure to give him a cracker, or is it another turnip he wants?

go to bed, jp...

Inflation keeps kicking.

Wholesale prices jump 9.7% in January, further evidence of red-hot inflation.

https://www.foxbusiness.com/economy/pro ... nuary-2022

Thank you for post

It is interesting to note that in June 2021 Russia dropped the dollar from its sovereign wealth fund.

Russia's central bank also will reduce its dollar holdings, he added, but he did not specify by how much.

“The de-dollarization process is… taking place not only in our country, but also in many countries around the world, which have begun to experience concerns about the reliability of the main reserve currency,” Kremlin spokesman Dmitry Peskov said in 27 May comments quoted by the Financial Times.

They added 20% gold and upped the amount of Chinese Yuan.

https://fred.stlouisfed.org/series/M2SL

Like the energizer bunny. Still going!

RaulR wrote:Thank you for post

Nice post

Serbia wrote:

RaulR wrote:Thank you for post

Nice post

the guy clearly knows quality when he sees it.

I think your post is too late, llama. There is a war ongoing in Ukraine, btw, started by saxi's hero, Putin.

The old 4-cylinder is back. I sure miss rocketing around corners at 35 mph.

Oil futures are $115 a barrel.

The price of oil (petroleum) and all derived products is most sensitive to geopolitical events; gasoline/petrol seems the one that hits us most clearly and deeply. The price of a standard barrel of oil (West Texas "sweet" at one time) is a key and often quoted commodity price for a long time.

Assuming no significant and immediate impact (i.e., the War in Ukraine does not go beyond the borders of Ukraine), I do not see a major shake up of the normal and expected trends for the price of oil. Of course, there may be something unexpected (e.g., disruption in Venezuela or Mexico that hit the oil supply; one of the OPEC nations decides to do something unusual, and many more scenarios).

The overall trend is to try to decrease our dependence on fossil fuels. Those efforts will cause some increases in oil prices as less effort is put into 1) finding new sources and 2) constructions for new/upgraded refineries and shipping (such as pipelines).

The immediate demand for oil will not decrease significantly. The world-wide COVID shut down and economic declines are a very unusual event and was not expected before 2020. Much of the recent increase in oil (and car) prices is impacted greatly as the world economies re-engage. There will be a partial decline in gasoline price pressures as many are now working from home and will continue to do so and NOT commute to work. But the switch to summer blends of gasoline in the USA will and is happening. Summer travel will resume. These are all expected events.

The increase of gasoline prices in the USA is painful, Biden is getting the blame, BUT the increase is not unexpected. Those who cannot think much beyond their noses will simply blame Biden, the guy they see as "in charge." As I said elsewhere, the US President gets too much blame for things that go wrong in economic matters and too much credit when things go well.

jusplay4fun wrote:The price of oil (petroleum) and all derived products is most sensitive to geopolitical events; gasoline/petrol seems the one that hits us most clearly and deeply. The price of a standard barrel of oil (West Texas "sweet" at one time) is a key and often quoted commodity price for a long time.

Assuming no significant and immediate impact (i.e., the War in Ukraine does not go beyond the borders of Ukraine), I do not see a major shake up of the normal and expected trends for the price of oil. Of course, there may be something unexpected (e.g., disruption in Venezuela or Mexico that hit the oil supply; one of the OPEC nations decides to do something unusual, and many more scenarios).

The overall trend is to try to decrease our dependence on fossil fuels. Those efforts will cause some increases in oil prices as less effort is put into 1) finding new sources and 2) constructions for new/upgraded refineries and shipping (such as pipelines).

The immediate demand for oil will not decrease significantly. The world-wide COVID shut down and economic declines are a very unusual event and was not expected before 2020. Much of the recent increase in oil (and car) prices is impacted greatly as the world economies re-engage. There will be a partial decline in gasoline price pressures as many are now working from home and will continue to do so and NOT commute to work. But the switch to summer blends of gasoline in the USA will and is happening. Summer travel will resume. These are all expected events.

The increase of gasoline prices in the USA is painful, Biden is getting the blame, BUT the increase is not unexpected. Those who cannot think much beyond their noses will simply blame Biden, the guy they see as "in charge." As I said elsewhere, the US President gets too much blame for things that go wrong in economic matters and too much credit when things go well.

mookiemcgee wrote:

jusplay4fun wrote:The price of oil (petroleum) and all derived products is most sensitive to geopolitical events; gasoline/petrol seems the one that hits us most clearly and deeply. The price of a standard barrel of oil (West Texas "sweet" at one time) is a key and often quoted commodity price for a long time.

Assuming no significant and immediate impact (i.e., the War in Ukraine does not go beyond the borders of Ukraine), I do not see a major shake up of the normal and expected trends for the price of oil. Of course, there may be something unexpected (e.g., disruption in Venezuela or Mexico that hit the oil supply; one of the OPEC nations decides to do something unusual, and many more scenarios).

The overall trend is to try to decrease our dependence on fossil fuels. Those efforts will cause some increases in oil prices as less effort is put into 1) finding new sources and 2) constructions for new/upgraded refineries and shipping (such as pipelines).

The immediate demand for oil will not decrease significantly. The world-wide COVID shut down and economic declines are a very unusual event and was not expected before 2020. Much of the recent increase in oil (and car) prices is impacted greatly as the world economies re-engage. There will be a partial decline in gasoline price pressures as many are now working from home and will continue to do so and NOT commute to work. But the switch to summer blends of gasoline in the USA will and is happening. Summer travel will resume. These are all expected events.

The increase of gasoline prices in the USA is painful, Biden is getting the blame, BUT the increase is not unexpected. Those who cannot think much beyond their noses will simply blame Biden, the guy they see as "in charge." As I said elsewhere, the US President gets too much blame for things that go wrong in economic matters and too much credit when things go well.

I need to take a photo of the one I saw where Biden says the same, in an image some jokester put on a gas pump I was at about 4-6 weeks ago. I am not sure how much of the increase in the price of gasoline is attributable to Pukin' Putin. I suspect the actions of Biden have and will have more long term impacts. Once the War in Ukraine is over, things will calm a bit in the Petroleum commodities markets, imo.

On another note, Duk says I only regurgitate "rote phrases" (HE IS WRONG on that point). He also says I do not know what I am talking about when it comes to economic matters. I have posted 10 times in this thread on page 2, HitRed 7 times, and Mookie 3 times in between Duk's posts of May 14, 2021 and Feb. 12, 2022. Note that much of what I post I already KNOW without looking up the information. I do look up and cite sources to validate my memory of economic matters. Let's play nice and assume Duk forgot to read the posts. Let us not accuse each other of knowing nothing or knowing little. That is what 4-7 year old children do. I will simply assume that Duk did not have a chance to read my long or my succinct posts, in between those dates of Duk sharing his wit and wisdom on economic issues.

Texas produces 43% of the oil in the USA.

$128.00 a barrel

HitRed wrote:Texas produces 43% of the oil in the USA.

$128.00 a barrel

I will remind the readers that the USA was energy independent under President Trump. Now the current President appears weak and feeble as he TRIES to beg for more oil from the Arabs. Next Biden will be begging for more oil from Maduro. But Biden's policies discourage Americans to look for and find oil in our own country. THANKS, Biden.

https://www.foxbusiness.com/economy/con ... ruary-2022

Inflation rises 7.9% in February, a new 40-year high

Whatever you invest in...it is likely better than cash.

I bought some crypto on PayPal, two different currencies, with fees on top, but what I received was several percent less than I paid for, and they do not offer records of the values purchased. The initial purchase could have been simpler but hadn't taken so long to complete that a huge swing accounts for it. In any case it lost some value and rose again and is nearly where it was - but anticipating the same again I would now need value to rise further to forestall a loss. It is less than a grand but I was a bit too casual about it - anyway if you're like me and didn't want a new crypto wallet, I can't recommend PayPal - record your screen if you do. PayPal promised a response, a few days ago, so maybe I'll be able to report a resolution. Feels doubtful.

JdeV 100 wrote:I bought some crypto on PayPal, two different currencies, with fees on top, but what I received was several percent less than I paid for, and they do not offer records of the values purchased. The initial purchase could have been simpler but hadn't taken so long to complete that a huge swing accounts for it. In any case it lost some value and rose again and is nearly where it was - but anticipating the same again I would now need value to rise further to forestall a loss. It is less than a grand but I was a bit too casual about it - anyway if you're like me and didn't want a new crypto wallet, I can't recommend PayPal - record your screen if you do. PayPal promised a response, a few days ago, so maybe I'll be able to report a resolution. Feels doubtful.

Lesson one of crypto, if you don't have 'keys' (to a wallet) then you don't have coins. Buying through paypal = buying a derivative. It's like you are buying shares in Paypals bag of crypto, you can't send them or trade them or get yield from them on chain, you just 'gain exposure' to the price of the asset. Its the same with square/robinhood and several others. In exchange for a 'low bar to entry' that paypal provides, you get only exposure to price, plus pretty bad 'exchange' rates (generally speaking).

generally speak a 'real' centralized crypto exchange will work the same way. There is a crypto wallet to hold whatever you buy, but the exchange holds the keys/control to those wallets. real exchanges though let you withdraw you coins to a personal wallet (after you are don't buying/selling/trading), and that is when no one buy you has access to the coins. They will generally also be way more transparent about the price/exchange rate, and most allow you to set limit orders (your order for BTC will only go through if it can be done below a certain price of your choosing).

Raskin withdraws as Biden’s Fed nominee
Sarah Bloom Raskin had been stuck in the Senate Banking Committee amid a GOP boycott of a committee vote on her nomination.

By KATE DAVIDSON

03/15/2022 03:16 PM EDT

Updated: 03/15/2022 06:50 PM EDT

Sarah Bloom Raskin has withdrawn as President Joe Biden’s pick to be the Federal Reserve’s top Wall Street watchdog amid a clash over her climate views, ending a monthlong standoff that held up a slate of Fed nominees.

Biden, in a statement Tuesday, said Raskin “was subject to baseless attacks from industry and conservative interest groups” and noted the broad support for her nomination from former central bank officials, consumer advocates, economists and the financial industry.

Raskin, whom the president tapped to be the Fed’s vice chair for supervision, faced fierce resistance from the oil and gas industry over her position on how the central bank should do more to help tackle climate change. Her nomination had been stuck in the Senate Banking Committee after a GOP boycott of a vote, effectively blocking her confirmation from advancing to the floor of the chamber.

https://www.politico.com/news/2022/03/1 ... e-00017476

Some Saudi oil may be priced in Chinese Yuan. Not the end of the world but a crack in the dominance of the US dollar. BTW, the Congress is cracking the dollar too. Passed another 1.5 Trillion. Inflation calling.

https://finance.yahoo.com/news/us-dolla ... p_catchall