Doom

[Mikey]

The Fed will make an interest rate decision tomorrow afternoon that could *JOLT* the markets.

Previously, the Fed had made noises about cutting rates a couple or more times this year.
But recent data has shown that inflation is rising again, so cutting rates now seems unlikely.
And in fact, it could be that they will actually raise rates tomorrow.

If the Fed raise rates tomorrow, look for the markets to take a significant dip in the afternoon.

My own guess is that the Fed will choose to leave rates where they are for now.

Will be interesting.

Well, that sure was a loud crash.

[Sven Golly]

Powell needs to seriously raise rates ala Paul Volcker style.

This inflation shit ain't going away anytime soon.

Like a band aid - right off!

Either way, Biden is f-cked. Continuing rampant inflation or recession - take your pick.

[Softball Bat]

Powell needs to seriously raise rates ala Paul Volcker style.

This inflation shit ain't going away anytime soon.

Like a band aid - right off!

Deflation is needed, but the powers-that-be are hellbent on only inflating.

The general public is getting skrewed badly.

My own guess is that the Fed will choose to leave rates where they are for now.

That's how it went.

[Roux]

The general public is getting skrewed badly.

Link

[Mikey]

The general public is getting skrewed badly.

Link

More Commie Democrat propaganda. When will you liberal sheep learn that it’s the Biden administration and Pelosi, in league with the MSM and BLM Hamas sympathizers that are killing us.

Sin
JPGettingbuggered

[JPGettysburg]

The general public is getting skrewed badly.

Link

More Commie Democrat propaganda. When will you liberal sheep learn that it’s the Biden administration and Pelosi, in league with the MSM and BLM Hamas sympathizers that are killing us.

Sin
JPGettingbuggered

Don't shoot the messenger.
Just thank us for shining the bright light of crystal clear clarity on your degenerate, racist, fascist party.

[Mikey]

Don't shoot the messenger.

Don’t get caught in a gravel pit.

[JPGettysburg]

Don't shoot the messenger.

Don’t get caught in a gravel pit.

Wow, that turned dark real quick.

[Mikey]

My specialty.

[HighPlainsGrifter]

3 Cornal Mass Ejections on their way

[Softball Bat]

3 Cornal Mass Ejections on their way

See you in 10 years!




#doom

[Mikey]

3 Cornal Mass Ejections on their way

Cornal Ejections? I think Dr Scholls makes something for that.

We do need to take this seriously, though. I know that the earth, as we know it, has been destroyed fairly regularly by these things.

#DoomII

[HighPlainsGrifter]

Billionaire Barry Sternlicht, Founder, Chairman and CEO of Starwood Capital Group has issued an ominous warning about America's regional banks, which he says will fail at a rate of 'one or two' per week.

"You're going to see a regional bank fail every day, or not — every week, maybe two a week," he said, adding that Fed Chair Jerome Powell's ongoing rate hikes will continue to have consequences for the real estate sector.

"He's got a hard task with a blunt tool, and the consequence is the real estate markets are taking it on the chin because rates rose so fast. We could have handled this, but we couldn't handle it this fast," he said. "The 1.9 trillion of real estate loans, that's a fragile animal right now."

Most at-risk firms are smaller banks representing assets under $10 billion, with a handful of larger regional ones. Some might be able to avoid closing by halting expansion plans or offering fewer services. Others might save themselves by merging with larger banks. But with inflation too high for the Fed to cut now, “higher for longer” interest rate policy is looking increasingly likely, and banks with high exposure to troubled commercial real estate are at particular risk of starting a domino effect of small collapses that lead to bigger ones and bleed into becoming a real estate crisis.

...

In all its hubris, the Fed is stuck between preventing a banking crisis and preventing inflation from getting even more out of control. It needs higher rates to reduce inflation, but crucial sectors of the economy that are heavily dependent on lending can’t survive in a higher-rate environment, even if they don’t appear insolvent at first glance.
https://www.zerohedge.com/economics/wat ... -economist

Cut rates to save small banks and the real estate industry or raise rates to curb inflation? Would you prefer we cut off your hand or your foot?

Of course, the answer will be what it always is: inflate the money supply, consolidate asset management toward more centralized control, and make billionaires more billions. Keep the bubble growing.

[Softball Bat]

The strategy for decades now has been to inflate, inflate, inflate...

Nobody in a position to dictate policy gives a rat's @ss that the common man is being decimated by inflation.

make billionaires more billions

Yes, exactly.

And when they finally decide to "pull it," and end the farce, the "elites" who pull the strings will surely be positioned as they desire to be.

[Rootbeer]

I feel like this is picking my pocket AND breaking my leg.

[Mikey]

“Ongoing rate hikes?” How old is that quote?

[Softball Bat]

Bad inflation data today...



Wholesale inflation picked up in April to its highest rate in a year as price hikes continue to weigh
on American businesses, hamstringing the Federal Reserve’s plans to cut interest rates...

https://www.msn.com/en-us/money/markets ... r-BB1mmPNZ?

[Diego in Seattle]

Bad inflation data today...



Wholesale inflation picked up in April to its highest rate in a year as price hikes continue to weigh
on American businesses, hamstringing the Federal Reserve’s plans to cut interest rates...

https://www.msn.com/en-us/money/markets ... r-BB1mmPNZ?

So we'll see commensurate decreases in corporate profits?

[Mikey]

Bad inflation data today...



Wholesale inflation picked up in April to its highest rate in a year as price hikes continue to weigh
on American businesses, hamstringing the Federal Reserve’s plans to cut interest rates...

https://www.msn.com/en-us/money/markets ... r-BB1mmPNZ?

It was lower that expected last month. You sure are an easy mark for click bait.

[HighPlainsGrifter]

My wife predicted I'd lose $1,000 last month gambling. I only lost $980 so she shouldn't be upset, right?

Is that how it works, Mikey?

[Sudden Sam]

We cannot endure another 4 years of this administration’s fiscal ineptitude.

What’s the solution? I haven’t a fucking clue.

[Mikey]

My wife predicted I'd lose $1,000 last month gambling. I only lost $980 so she shouldn't be upset, right?

Is that how it works, Mikey?

Your analogies don't make sense. If you didn't gamble at all you wouldn't win or lose. The economy continues whether you like it or not. There's not a continuous upward or downward path, ever. These indicators go up and they go down, it's the long term results that matter and, whether you or Sam can see past the Republican clickbait that seems to inhabit your anal sphincter, the economy has been doing pretty well, by most indicators, during Biden's administration. Certainly a lot better that under your orange demigod before him.

But of course, that was all Fauci's fault.

[JPGettysburg]

We cannot endure another 4 years of this administration’s fiscal ineptitude.

What’s the solution? I haven’t a fucking clue.

Become the world supplier of energy.
As soon as the left took over, they scrapped everything. They actually used the strategic oil reserves. Reversed every policy from the trump administration.
Should I list every single bad decision by this criminally corrupt left-wing administration?
Do I need to?

Becoming the world supplier of energy, is the answer to all problems imaginable.

President trump wants that for our country, the left DOES NOT.

[Mikey]

We cannot endure another 4 years of this administration’s fiscal ineptitude.

What’s the solution? I haven’t a fucking clue.

Become the world supplier of energy.
As soon as the left took over, they scrapped everything. They actually used the strategic oil reserves. Reversed every policy from the trump administration.
Should I list every single bad decision by this criminally corrupt left-wing administration?
Do I need to?

Becoming the world supplier of energy, is the answer to all problems imaginable.

President trump wants that for our country, the left DOES NOT.

The US is the world's biggest producer of both crude oil and natural gas, by far, and a net exporter of both. But I wouldn't expect you to know this. Dumbass.

So can I assume that you're talking about renewable energy?

[JPGettysburg]

We cannot endure another 4 years of this administration’s fiscal ineptitude.

What’s the solution? I haven’t a fucking clue.

Become the world supplier of energy.
As soon as the left took over, they scrapped everything. They actually used the strategic oil reserves. Reversed every policy from the trump administration.
Should I list every single bad decision by this criminally corrupt left-wing administration?
Do I need to?

Becoming the world supplier of energy, is the answer to all problems imaginable.

President trump wants that for our country, the left DOES NOT.

The US is the world's biggest producer of both crude oil and natural gas, by far, and a net exporter of both. But I wouldn't expect you to know this. Dumbass.

So can I assume that you're talking about renewable energy?

Ok, so if what you just said was true, why did the biden administration deplete the strategic oil reserves?

[JPGettysburg]

Become the world supplier of energy.
As soon as the left took over, they scrapped everything. They actually used the strategic oil reserves. Reversed every policy from the trump administration.
Should I list every single bad decision by this criminally corrupt left-wing administration?
Do I need to?

Becoming the world supplier of energy, is the answer to all problems imaginable.

President trump wants that for our country, the left DOES NOT.

The US is the world's biggest producer of both crude oil and natural gas, by far, and a net exporter of both. But I wouldn't expect you to know this. Dumbass.

So can I assume that you're talking about renewable energy?

Ok, so if what you just said was true, why did the biden administration deplete the strategic oil reserves?

Are you a logical person?
If what you just said is true, we'd be raking in billions every year selling crude oil and natural gas.

There would've been no reason whatsoever to deplete our strategic oil reserves.

So are you displaying cognitive dissonance or just spreading BS?

[JPGettysburg]

We cannot endure another 4 years of this administration’s fiscal ineptitude.

What’s the solution? I haven’t a fucking clue.

Become the world supplier of energy.
As soon as the left took over, they scrapped everything. They actually used the strategic oil reserves. Reversed every policy from the trump administration.
Should I list every single bad decision by this criminally corrupt left-wing administration?
Do I need to?

Becoming the world supplier of energy, is the answer to all problems imaginable.

President trump wants that for our country, the left DOES NOT.

The US is the world's biggest producer of both crude oil and natural gas, by far, and a net exporter of both. But I wouldn't expect you to know this. Dumbass.

So can I assume that you're talking about renewable energy?

Help the board out here.
If what you say is true, why the fuck would the biden administration deplete the strategic oil reserves?
Tell us genius.

[JPGettysburg]

We cannot endure another 4 years of this administration’s fiscal ineptitude.

What’s the solution? I haven’t a fucking clue.

Become the world supplier of energy.
As soon as the left took over, they scrapped everything. They actually used the strategic oil reserves. Reversed every policy from the trump administration.
Should I list every single bad decision by this criminally corrupt left-wing administration?
Do I need to?

Becoming the world supplier of energy, is the answer to all problems imaginable.

President trump wants that for our country, the left DOES NOT.

The US is the world's biggest producer of both crude oil and natural gas, by far, and a net exporter of both. But I wouldn't expect you to know this. Dumbass.

So can I assume that you're talking about renewable energy?

So according to Mikey, we have the largest inventory of crude and natural gas, YET the biden administration depleted the strategic oil reserves.

Can't wait for your explanation.

[Mikey]

Look it up dumbshit. I’m not your teacher, or your mommy. If you can get past FAUX News, Newsmax, and your fourth grade newsletter, it’s easy to find. I know that Google is another commie democrat conspiracy, but it can be your friend, and you can get most of the official data. Which you probably consider fake so never mind. Keep using whatever trusted source of made up shit you’ve been going to.

[JPGettysburg]

Look it up dumbshit. If you can get past FAUX News, Newsmax, and your fourth grade newsletter, it’s easy to find. I know that Google is another commie democrat conspiracy, but it can be your friend, and you can get most of the official data. Which you probably consider fake so never mind. Keep using whatever trusted source you’ve been going to.

Wow!
I asked for a logical response to a logical question, and Mikey comes back with a bullshit word salad talking about cable TV news.


Hey moron? I don't own a tv. I enjoy the outdoors, cycling, fishing, etc.....


I asked you a GOT DAMN logical question, which you couldn't possibly answer if your LIFE DEPENDED UPON IT.

AGAIN.

LOGIC dictates that if as you say, we are the largest exporters of crude worldwide, we would NEVER EVER have depleted our strategic oil reserves.

But that's exactly what the Alzheimer's Joe administration did.

Logic also dictates that if as you say, we are the largest exporters of crude worldwide, we would NEVER EVER have to buy oil from countries that hate us and want us dead.

But that's exactly what the Alzheimer's Joe administration has been doing.

What the fuck is wrong with you?

[JPGettysburg]

Look it up dumbshit. I’m not your teacher, or your mommy. If you can get past FAUX News, Newsmax, and your fourth grade newsletter, it’s easy to find. I know that Google is another commie democrat conspiracy, but it can be your friend, and you can get most of the official data. Which you probably consider fake so never mind. Keep using whatever trusted source of made up shit you’ve been going to.

Forbes reported yesterday that the biden administration is not refilling our strategic oil reserves.

When will Mikey get it through his GOT DAMN head that biden isn't making the decisions, his ultra left-wing administration is.

[mvscal]

We cannot endure another 4 years of this administration’s fiscal ineptitude.

What’s the solution? I haven’t a fucking clue.

Not voting for the current administration would be a good start point.

[Sudden Sam]

We cannot endure another 4 years of this administration’s fiscal ineptitude.

What’s the solution? I haven’t a fucking clue.

Not voting for the current administration would be a good start point.

That’s a no brainer.

[Mikey]

My wife predicted I'd lose $1,000 last month gambling. I only lost $980 so she shouldn't be upset, right?

Is that how it works, Mikey?

This is how it works. We can all pick and choose whatever statistics we want to focus on and, like I said, they change every day.

https://www.washingtonpost.com/business ... ation-fed/

Inflation improved slightly in April, with timing for rate cuts still uncertain

Inflation showed some signs of improvement in April, as policymakers grapple with whether their fight against abnormally high price growth is losing ground.

Data released Wednesday from the Bureau of Labor Statistics showed prices rose 3.4 percent in April, compared with the year before. That’s down a bit from the 3.5 percent notched in March, and follows months of hotter-than-expected reports. Prices rose 0.3 percent compared with the month before.

In a particularly encouraging note, a key reading of inflation known as “core” — which strips out more volatile categories like food and energy — rose 0.3 percent. That measure was up 3.6 percent on an annual basis, the lowest year-over-year increase since 2021. Policymakers pay close attention to that gauge because it helps them tease out stickier sources of inflation from the kinds of rising prices that typically bounce around month to month.

[Mikey]

LOGIC dictates that if as you say, we are the largest exporters of crude worldwide, we would NEVER EVER have depleted our strategic oil reserves.

I never said that we were the largest exporters of crude. I said that we were the largest producers of both crude oil and natural gas. Do you see the difference there? In fact we are the third largest exporters of crude and the largest exporters of natural gas.

Regarding the Strategic Petroleum Reserve,

The Strategic Petroleum Reserve (SPR), the world's largest supply of emergency crude oil was established primarily to reduce the impact of disruptions in supplies of petroleum products and to carry out obligations of the United States under the international energy program

.

Biden started drawing it down in 2022 for 180 days as a hedge against price spikes on the international market resulting from the invasion of Ukraine by Trump's little Russian puppet master. Seems to me, that's what the reserve was intended for. It was sold into the market at $96 per barrel, and they have gradually been replacing it when prices are lower (it doesn't come for free, you know). Of course the Republicans frame this is as a disaster but you can be sure that they would have been bitching if he didn't do it.

The SPR was created following the 1973 energy crisis, when we were net importers of crude. Since we are now producing a lot more than we use (net exports of over 1.5 million barrels per day as of 2023), I'm not sure why it's so important that the SPR be immediately maxed out, except that it feeds into your stupid little rant.

If I'm wrong about anything here, please point it out and provide references to where you are getting your information.

Unlike you, I don't need to constantly change the subject, reply with fact-free, spittle-laced tirades, or beg for affirmation from members of a sordid clambake full of trolls, losers and social misfits like yourself.

Now go to your room and take a time out until I tell you that you can come out.

[HighPlainsGrifter]

This is how it works. We can all pick and choose whatever statistics we want to focus on and, like I said, they change every day.

On this we agree. There are three kinds of lies, right? Lies, damned lies, and statistics. You can create almost any narrative using statistics. Which is why it behooves critical thinkers to explore beyond the surface level narratives we are being fed. You seem awfully concerned about the narratives being fed by Fox News. You seem far less concerned about the narratives being promoted by the Washington Post. Why? Because your bias toward the current administration is fueling your perceptions of reality just as my biases against the current administration are fueling mine, and the news outlets cater to our individual tastes. Our fight will never be resolved but perhaps we can agree on the raw data.

The way inflation is calculated has been revised in significant ways twice in my lifetime and in minor ways an innumerable number of times, again, in my lifetime. The inflation that led to Jimmy Carter losing the Presidential election was calculated using a different statistical method than the inflation that is buffeting the Biden reelection bid. Certain sectors are being completely ignored by the statistical model but people still feel financial pressures from those sectors. The White House squeeing and clapping their moist baby hands about economic recovery and low inflation is a narrative based on targeted statistical models. As you said, they get to pick and choose statistics on which they want to focus. Your WaPo link does it right there in the article, "In a particularly encouraging note, a key reading of inflation known as “core” — which strips out more volatile categories like food and energy.." Yeah, let's just NOT COUNT these things and the numbers are more to our liking.

Selectively not counting things is a major feature in calculating inflation. Been that way for decades. If we use the pre-1980 method for calculating inflation today we're at 12%. Using the method from 1989 we're at 7%. That's the inflation people are feeling, not the fairy dust bullshit 3.4% the White House is reporting to WaPo. If you want to understand the disconnect between The News saying everything is wonderful and regular working folk (people without a cushy retirement living on SoCal estate complete with pool and fancy native plants and a solar panel) struggling because their rent went up 30% not once, but twice, in the last 30 months, there ya go. REAL inflation is what has people upset. Those wonderful inflation figures WaPo is so proud to report does not include costs of housing... but people's budgets have noticed, and they're not buying the bullshit any longer. You can believe inflation is 3.4% because you don't feel it in your pocket book, and the part you do feel is a benefit because you're holding assets that gain in value. But regular folk are experiencing something far different.

Please get your head out of your ass and realize not everyone is parroting Fox News when they say inflation sucks. Some people are living in economic pain and WaPo telling them it isn't pain doesn't make it hurt any less.

[Mikey]

I never said that inflation doesn't hurt. I was responding to poptart's "#Doom" post. You're changing the subject again. At least try to be honest.

The WaPo was reporting numbers released by the Bureau of Labor Statistics, not created by the newspaper's evil editorial board. You can get that from just about any financial news reporting service. But then they're all run by the liberal elite, so why would you believe any of them?

https://www.marketwatch.com/livecoverag ... =home-page

https://www.bloomberg.com/news/articles ... e-americas

Inflation Eases as Core Index Hits Lowest Level Since 2021
(Wall Street Journal)
https://www.wsj.com/economy/inflation-a ... e-55eda190

[Diego in Seattle]

provide references to where you are getting your information.

You do realize who you're responding to, don't you?

[HighPlainsGrifter]

I never said that inflation doesn't hurt. You're changing the subject again. At least try to be honest.

The WaPo was reporting numbers released by the Bureau of Labor Statistics, not created by the newspaper's evil editorial board. You can get that from just about any financial news reporting service. But then they're all run by the liberal elite, so why would you believe any of them?

https://www.marketwatch.com/livecoverag ... =home-page

https://www.bloomberg.com/news/articles ... e-americas

Inflation Eases as Core Index Hits Lowest Level Since 2021
(Wall Street Journal)
https://www.wsj.com/economy/inflation-a ... e-55eda190

Fuck off with this deflective bullshit. The way inflation is calculated has changed. Period. That's a fact. Why? So the numbers go down and the people making the changes can sell the public a narrative. A narrative you swallowed like tasty bait. Why? Because you WANT to swallow that tasty bait. You're making a choice to believe a certain set of statistics. An alternative set of statistics is also available for your perusal. It's an archival model that accurately reflects reality. That's why it's called REAL inflation.

REAL inflation is kicking people in the crotch in ways the WaPo narrative can't quantify. I know YOU don't feel that pain. You're INSULATED from a lot of economic turmoil, and in fact, benefit from it. But know this: a majority of people don't live the way you live and they don't monitor economic upheaval from a distance. The people in the trenches are feeling the 12%, not the 3.4%. Fact. The Bureau of Labor Statistics is LYING to them and they know it.

[Mikey]

provide references to where you are getting your information.

You do realize who you're responding to, don't you?

Of course. I was thinking that I wouldn't respond at all, but I couldn't help myself.