2024 US Presidential Election

[So Hai]

"That said the fact that inflation existed before covid is sufficient to prove that inflation is not caused by the flu-like virus."

of course, inflation existed before covid. i did not say covid-19 caused all inflation. but it is responsible for starting the current inflationary spiral that led to where we are today.

If inflation existed before covid, then covid can not possibly have been the start of an inflationary spiral. If not covid then what?

so you don't have to click on the link.

December 2023

What caused the high inflation during the COVID-19 period?​

Summary written by: Lawrence H. Leith

The COVID-19 pandemic profoundly affected the world economy. The U.S. economy lost 23 million jobs at the start of the pandemic, leading to a recession in early 2020. The federal government responded with sharp increases in fiscal spending, and the Federal Reserve lowered interest rates to near zero and kept them there for almost 2 years. The economy began to recover, but inflation rose to its highest level in decades.

Thanks, I appreciate it. It is admitted in your quote that the cause of inflation is in fact not the flu-like virus but the ”Federal Reserve”.

 

[trichrider]

Biden Suddenly Quits Refilling America’s Oil Reserves​

The political cost of crude is too high for the White House.

by Andrew Moran | Apr 4, 2024 | Articles, Politics

Tap into America’s oil reserves in case of emergency. This was the idea behind the Strategic Petroleum Reserve (SPR) when the program was crafted in the 1970s under then-President Gerald Ford. However, under the current administration, it has morphed into a political weapon to facilitate victory in an election year. As a result, the SPR has been drained and cut nearly in half, potentially leaving the United States vulnerable in the event of a disaster. Rather than replenishing the rainy-day crude fund, the White House thinks slow and steady will ultimately win the race.

Oil Reserves Hit a Roadblock​

In March, the Department of Energy issued a solicitation for 2.8 million barrels of crude oil for August and September deliveries to a major SPR storage facility in Louisiana. However, the Energy Department canceled the move out of the blue and will only “solicit available capacity as market conditions allow. We will continue to monitor market dynamics.” Whether the administration seeks October contracts or not remains to be seen. But it was perplexing.

Fox News’ Peter Doocy asked White House press secretary Karine Jean-Pierre during an April 3 press briefing about what happened and why the administration is not refilling the SPR fast enough. She deferred to the Department of Energy as “they would have more specifics on that for you.”
Since arriving at the Oval Office in January 2021, President Biden has drained the SPR by about 43%, tumbling from 638 million barrels to 363.6 million, according to the Energy Information Administration (EIA). The administration quickly tapped into the SPR following Russia’s invasion of Ukraine, which helped send oil and gasoline prices through the roof, often called “Putin’s price hike.” The Treasury Department estimated that the move helped reduce a gallon of gas by 80 cents.
The White House has repeatedly pledged to replenish the SPR for the past two years. So far, it has failed to follow through on these assurances. In December 2022, the administration issued a fact sheet that noted the US government would begin to purchase crude when prices were between $67 and $72 a barrel. A year later, Energy Secretary Jennifer Granholm presented a three-part plan to replenish the SPR. It is now uncertain what will happen next.
US officials have started adding to the country’s oil reserves at a snail’s pace. Indeed, these efforts have not been as fast and furious as the drawdowns. After collapsing to a four-decade low of around 346 million barrels in July 2023, Washington has since injected approximately 17 million barrels, based on the latest EIA statistics.
Daniel Turner, founder and executive director of energy advocacy group Power The Future, was blunt in his assessment of the current situation:

“It’s pure insanity to watch the Biden Administration cut American oil production and then claim they can’t refill our critical reserve because of the price. Joe Biden drained the SPR for political reasons, cut our domestic production for his climate agenda and now he’s leaving our critical reserve more vulnerable because he’s incompetent. As a result, Americans are paying more at the pump, more at the grocery store and our SPR is less full during a time of rising turmoil in the Middle East.”

But why is the administration fearful of juicing the SPR? A second wave of inflation.

Running of the Bulls​

Crude oil prices have been on a tear in 2024, soaring 20% to around $85 per barrel on the New York Mercantile Exchange. Texas Tea has been one of the leading causes of the inflation revival in the first quarter of 2024. In addition to geopolitical tensions, tight global energy markets have fueled the bull run. All the president’s men and women might be concerned that if more supply is taken out of the marketplace, it would add to the rally and, as a result, exacerbate inflationary pressures.

Of course, it is all speculative talk, but market watchers have observed the trends. “Domestic crude prices are likely to remain too high for the remainder of the year for DOE to resume its refilling program,” Bob McNally, president of consulting firm Rapidan Energy Group, said in an interview with Bloomberg. JPMorgan Chase now believes Brent, the international benchmark for oil prices, could hit $100 by September. More energy analysts think a gallon of gasoline could eye $4 this summer.

What Could Have Been​

Remember during the coronavirus pandemic when oil prices traded around $25 a barrel? Then-President Donald Trump proposed buying 77 million barrels to add to the SPR. Rather than take advantage of the opportunity, Democrats railroaded 45 and removed the provision from a stimulus package because they thought it was a “bailout” for the energy industry. On the one hand, it would have potentially allowed the incumbent to withdraw even more from the SPR. On the other, it might have proffered a bit more of a cushion. Either way, it is a sad state of affairs when emergency oil reserves have transformed into a political game.

 

[trichrider]

 

[trichrider]

Jobless Claims: Spot The Odd (Government-Supplied) One Out​

Thursday, Apr 04, 2024 - 05:35 AM
In the real world labor market, 2024 has been a shitshow of layoffs...

1. Everybuddy: 100% of workforce
2. Wisense: 100% of workforce
3. CodeSee: 100% of workforce
4. Twig: 100% of workforce
5. Twitch: 35% of workforce
6. Roomba: 31% of workforce
7. Bumble: 30% of workforce
8. Farfetch: 25% of workforce
9. Away: 25% of workforce
10. Hasbro: 20% of workforce
11. LA Times: 20% of workforce
12. Wint Wealth: 20% of workforce
13. Finder: 17% of workforce
14. Spotify: 17% of workforce
15. Buzzfeed: 16% of workforce
16. Levi's: 15% of workforce
17. Xerox: 15% of workforce
18. Qualtrics: 14% of workforce
19. Wayfair: 13% of workforce
20. Duolingo: 10% of workforce
21. Rivian: 10% of workforce
22. Washington Post: 10% of workforce
23. Snap: 10% of workforce
24. eBay: 9% of workforce
25. Sony Interactive: 8% of workforce
26. Expedia: 8% of workforce
27. Business Insider: 8% of workforce
28. Instacart: 7% of workforce
29. Paypal: 7% of workforce
30. Okta: 7% of workforce
31. Charles Schwab: 6% of workforce
32. Docusign: 6% of workforce
33. Riskified: 6% of workforce
34. EA: 5% of workforce
35. Motional: 5% of workforce
36. Mozilla: 5% of workforce
37. Vacasa: 5% of workforce
38. CISCO: 5% of workforce
39. UPS: 2% of workforce
40. Nike: 2% of workforce
41. Blackrock: 3% of workforce
42. Paramount: 3% of workforce
43. Citigroup: 20,000 employees
44. ThyssenKrupp: 5,000 employees
45. Best Buy: 3,500 employees
46. Barry Callebaut: 2,500 employees
47. Outback Steakhouse: 1,000
48. Northrop Grumman: 1,000 employees
49. Pixar: 1,300 employees
50. Perrigo: 500 employees

But, according to the government-supplied data...
The number of Americans filing for jobless benefits for the first time last week rose from 212k to 221k (SA) to its highest since Jan, and claims ticked modestly higher on an NSA basis...

Source: Bloomberg

Texas and Missourri saw thelargest declines in claims while California (which was estimated) and Pennsylvania saw the largest rise...

Continuing claims remain glued around 1.8mm Americans - where they have been for nine months...

Source: Bloomberg

But, here's the thing... WARNs are soaring... and Challenger-Grey just announced that March saw the most job cuts (90,309) since January 2023...but government-supplied data on initial jobless claims continues to smoothly tick along near record lows...

Source: Bloomberg

Can you spot the odd (government-supplied) one out?

 

[trichrider]

OUCH: White House Cancels Annual Ramadan Dinner After Muslims Refuse to Attend​

by Ben Kew Apr. 4, 2024 8:15 am

The White House was forced to cancel its annual Ramadan celebration after Muslims refused to attend an event with Joe Biden.

CBS News reports that while the White House held a successful Iftar dinner last year with hundreds of Muslims, this year’s celebrations involved just a handful administration officials:

Last year, President Biden hadn’t even spoken a word at the White House celebration of Ramadan before someone shouted out “we love you.” Hundreds of Muslims were there to mark the end of the holy month that requires fasting from sunrise to sunset.
There are no such joyous scenes during this Ramadan. With many Muslim Americans outraged over Mr. Biden’s support for Israel’s siege of Gaza, the White House chose to hold a smaller iftar dinner on Tuesday evening. The only dinner attendees were people who work for his administration.
…
Alzayat attended last year’s event, but he declined an invitation to break his fast with Mr. Biden this year, saying, “It’s inappropriate to do such a celebration while there’s a famine going on in Gaza.”
After rejections from Alzayat and others, he said the White House adjusted its plans Monday, telling community leaders it wanted to host a meeting focused on administration policy. Alzayat still said no, believing that one day wasn’t enough time to prepare for an opportunity to sway Mr. Biden’s mind on the conflict.

The boycott reflects the growing anger among America’s Muslims communities about Biden’s lukewarm for Israel’s war against Hamas.

America’s Muslims tend to vote Democrat, although many of them consider Israel-Palestine as their most important issue. This was particularly reflected in this year’s Michigan Democratic Primary, where around 15 percent voted against the current president.

Meanwhile, the White House insists that Biden is working hard to “secure an immediate ceasefire” in Gaza, even though there is currently no sign of one.

“[Joe Biden and Kamala Harris] know this is a deeply painful moment for many in the Muslim and Arab communities,” the statement said.

“President Biden made clear that he mourns the loss of every innocent life in this conflict. The president also expressed his commitment to continue working to secure an immediate ceasefire as part of a deal to free the hostages and significantly increase humanitarian aid into Gaza.”

 

[trichrider]

 

[greyfader]

If inflation existed before covid, then covid can not possibly have been the start of an inflationary spiral. If not covid then what?

Thanks, I appreciate it. It is admitted in your quote that the cause of inflation is in fact not the flu-like virus but the ”Federal Reserve”.

how dense are you?

 

[shiva82]

printing money is the cause of inflation. Delta wanted a hard china style lockdown and even more printing of money and even more inflation and is pro war . he is one of the gang

 

[greyfader]

printing money is the cause of inflation. Delta wanted a hard china style lockdown and even more printing of money and even more inflation and is pro war . he is one of the gang

i did not want a "hard china style lockdown". i did not advocate for the printing of money and more inflation. and i am not "pro war".

speak for yourself, moron! if you can form a complete sentence with the pathetic little wad of tissue you call a brain!

 

[So Hai]

how dense are you?

Losers response.

 

[So Hai]

printing money is the cause of inflation. Delta wanted a hard china style lockdown and even more printing of money and even more inflation and is pro war . he is one of the gang

Obviously there are some issues with mental health.

The printing is in itself really nothing without the lending of it at interest. If they can’t get it on the swings they catch it on the carousel, you know. The snivels? No, its usury. Cui bono?

 

[shiva82]

Obviously there are some issues with mental health.

The printing is in itself really nothing without the lending of it at interest. If they can’t get it on the swings they catch it on the carousel, you know. The snivels? No, its usury. Cui bono?

if you start with one dollar in circulation, and one man wants to borrow a dollar, they have to print an extra note , and charge an extra note in interest , say for example. that is 3 notes generated by one person out of nothing, and it is fraud

 

[greyfader]

here is a short cartoon that might help you guys understand how covid-19 is connected to the current inflationary spiral we are experiencing.

 

[GOT_BUD?]

Why were Trump’s bond documents rejected and what is next for his civil fraud appeal?

Missing financial information meant that some documents were ‘returned for correction’ to Donald Trump and his legal team

www.independent.co.uk

 

[So Hai]

if you start with one dollar in circulation, and one man wants to borrow a dollar, they have to print an extra note , and charge an extra note in interest , say for example. that is 3 notes generated by one person out of nothing, and it is fraud

A fraud that inevitably lead the borrower into debt slavery, the money itself being equal to debt plus interest in the usury economy. No way out other than abolition, the election that is a topic in this thread is nothing more than theatre for the masses.

 

[GOT_BUD?]

https://x.com/TheClearCider/status/1775640014056997197

 

[So Hai]

here is a short cartoon that might help you guys understand how covid-19 is connected to the current inflationary spiral we are experiencing.

”It all goes back to supply and demand” is indeed a cartoonish statement but hey - its Harvard, and the clownery is expected.

To examine the modern consequences of usury, inflation has been due to the creation of new units of additional money. With our economy so dependent on the US, during the last four decades the Fed has doubled the American money supply every ten years. That fact, and the system of fractional reserve in which banks lend far beyond their own reserves, sometimes given as a proportion of 10 to 1 but with hedge funding actually far higher, constitute the real causes of inflation and the reduction of buying power.
…
We still agree with the old Christian and Islamic condemnation of usury: that the interest charged on a loan is the increment out of excrement.

- Lord Sudeley

 

[greyfader]

 

[greyfader]

How Trump is following Hitler’s playbook | NationofChange

www.nationofchange.org

 

[So Hai]