PILOT SPIN
Spin Zone => Spin Zone => Topic started by: Bob Noel on March 17, 2022, 10:24:40 AM
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Went to fill up my car this morning (it gets reasonable gas mileage and I don't drive long distances)...
ran into the $50 limit on the fillup. (so I simply did a second transaction for 90 cents to finish the fillup)
Pretty soon I'll have to do 3 transactions...
A big ol' bless your heart to all those contributing to rising fuel costs and overall inflation increases
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Useful info on origin of gas price changes at the pump, courtesy the WSJ:
https://www.wsj.com/articles/joe-bidens-vast-oil-conspiracy-gasoline-prices-11647468748?st=2qgyh78l06lbnfn&reflink=desktopwebshare_permalink (https://www.wsj.com/articles/joe-bidens-vast-oil-conspiracy-gasoline-prices-11647468748?st=2qgyh78l06lbnfn&reflink=desktopwebshare_permalink)
"Individual retailers set gas prices based on what they expect their future fuel deliveries to cost. But they have no clue right now due to all of the global uncertainty. Oil prices have plunged this past week in part because the United Arab Emirates said it would urge OPEC to pump more. But the cartel might not.
Markets also forecast that China’s lockdowns, if they continue, will dampen global growth and fuel demand this year. But they may not. Ukrainian President Volodymyr Zelensky also raised hopes on Tuesday that peace talks with Russia were beginning to “sound more realistic.” But the war could go on for weeks. Who knows what crude prices will be a week or even a few days from now.
[...]
By the way, the vast majority of the nation’s 150,000 gas retailers are mom-and-pop operations. Fewer than 5% are owned by refiners. Profit margins are only about 10 to 15 cents a gallon even when prices shoot up. These small businesses aren’t padding their profits. They’re trying to hedge against big losses if oil prices spike."
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Glen Beck had Dave Ramsey on his show the other day and Dave Ramsey said the inflation is a combination of three things:
1. Oil prices, and that is 100% on Biden, Ramsey said
2. Supply chain disruption caused by lockdowns, factory shutdowns, closed ports, etc. causes shortages which drive up prices
3. Workers getting paid to stay home which expands the money supply while contracting actual economic productivity
Beck and Ramsey had an interesting conversation. They agreed to disagree on where things are headed. Beck thinks disaster looms. You may as well not even own any stocks or U.S. dollars. It’ll all soon be worthless. Ramsey thinks the natural human tendency to trade and have markets will prevail over such pessimism and the wise thing to do is still invest but just diversify.
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3. Workers getting paid to stay home which expands the money supply while contracting actual economic productivity
This is so fucking huge and largely ignored. Printing money out of thin air, and giving it to people without the benefit of their priductivity will drive insane inflation levels. Giving out money for Covid freeloaders is one of the stupidest things our government has ever done. Of course it's really just vote buying with OPM.
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Hasn’t Glenn Beck been predicting doom since 2009?
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Hasn’t Glenn Beck been predicting doom since 2009?
This is my biggest problem with him. When I listen to him I feel like blowing my brains out. No hope at all. Compare that to Rush Limbaugh.
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Hasn’t Glenn Beck been predicting doom since 2009?
Nope. 1970. He started in third grade. It just took him a while to get a microphone.
J/C.
I can only listen to him a little at a time. He wears me out.
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Glen Beck had Dave Ramsey on his show the other day and Dave Ramsey said the inflation is a combination of three things:
1. Oil prices, and that is 100% on Biden, Ramsey said
2. Supply chain disruption caused by lockdowns, factory shutdowns, closed ports, etc. causes shortages which drive up prices
3. Workers getting paid to stay home which expands the money supply while contracting actual economic productivity
Beck and Ramsey had an interesting conversation. They agreed to disagree on where things are headed. Beck thinks disaster looms. You may as well not even own any stocks or U.S. dollars. It’ll all soon be worthless. Ramsey thinks the natural human tendency to trade and have markets will prevail over such pessimism and the wise thing to do is still invest but just diversify.
That’s one of three reasons I can’t listen to Beck. Unlike Rush, I’ve never left a Beck broadcast inspired; he is always doom and gloom. Second, he thinks he’s fucking Nostradamus. He’s not. Third, he thinks he’s the smartest person in the room. Irritating.