131–140 of 509 posts
Earlier quoted context omitted.
Except it isn't actually higher. https://www.bls.gov/charts/employment-situation/civilian-lab...
You can quibble with the exact threshold, but it certainly isn’t 80% of pre-Covid employment: https://www.statista.com/statistics/269959/employment-in-the... https://fred.stlouisfed.org/series/PAYEMS
Earlier quoted context omitted.
Direct actions like immediately cancelling the keystone XL pipeline. Imagine you're a company which builds refining and extraction infrastructure. The government wants you to build more capacity to bring down the cost fuel, but 18 months ago. you watched them just straight up cancel a project which was already half finished. Would you go for this? I wouldn't. And you have a bunch of land lease contracts which allow y…
> Direct actions like immediately cancelling the keystone XL pipeline. It's unlikely an unfinished pipeline for export purposes had a significant impact on current gasoline prices. https://apnews.com/article/fact-checking-895299166310 "Experts tell The Associated Press that the Keystone XL pipeline cancellation isn’t affecting what’s happening in the oil market today. It was never operational when it was shut down, a…
In the USA, "officially" a group of 8 economists at the National Bureau of Economic Research decides when a recession starts. I suspect other countries have their own definitions. "The NBER's definition emphasizes that a recession involves a significant decline in economic activity that is spread across the economy and lasts more than a few months. In our interpretation of this definition, we treat the three criteria…
My problem with that is: > significant decline in economic activity What is "significant"? > more than a few months How long exactly? All I gather from their description is that they basically just get a "feel" for it. That's why so many people choose to follow the two negative quarter thing - it's objective and clearly defined, but maybe less accurate (particularly in cases like now where unemployment is still reall…
Quoted post unavailable.
> Real gross domestic product (GDP) decreased at an annual rate of 0.9 percent in the second quarter of 2022 (table 1), according to the "advance" estimate released by the Bureau of Economic Analysis. In the first quarter, real GDP decreased 1.6 percent. That makes two back-to-back quarters of real GDP contraction. To some, this is a recession, but it's the NBER that puts the stamp on it. AFAIK, NBER has never failed…
Doesn’t a Fed typically lower rates during a recession? At least at some point, in order to bring a country out of the recession.
Earlier quoted context omitted.
> Direct actions like immediately cancelling the keystone XL pipeline. It's unlikely an unfinished pipeline for export purposes had a significant impact on current gasoline prices. https://apnews.com/article/fact-checking-895299166310 "Experts tell The Associated Press that the Keystone XL pipeline cancellation isn’t affecting what’s happening in the oil market today. It was never operational when it was shut down, a…
Quoted post unavailable.
Earlier quoted context omitted.
Both of those are up to the consensus of the group of economists. They regularly talk about it with each other and compare with historical data mostly. Keep in mind economics is a social science, not exact science. It would strike me more as "feeling it out", but they are not in a rush to announce it is or is not a recession until they have a better feel. Everyone seems to be rushing to call it a recession as early a…
So it depends on if it's an election year and how much pressure is on them? Got it.
Earlier quoted context omitted.
Direct actions like what? U.S. crude production is near all-time highs. Gas is expensive because ridiculous Americans will pay it and the oil companies figured that out. Shell just announced a $12 billion quarterly profit. The only thing I want to see out of Biden on gas prices is a windfall tax on oil companies where the funds are dedicated to lithium exploration.
$11.5 billion in profits on $103.06 billion in revenue is a profit margin of less than nine percent. That doesn't seem all that unreasonable to me.
The way that the White House, and by extension the administrative branch of the government has decided to redefine "recession" and imply that the economy is doing really well right now is actually scary. These people do have huge levers that control our lives that they can pull. Their actions do have massive effects on the American economy, and by extension the economy of the rest of the world. The actions they're ta…
> Gas if still $4.2 national average per gallon. That's HUGE, and the direct actions of the administration are to blame for this. https://www.reuters.com/business/energy/shell-reports-record... "Shell (SHEL.L) posted record results on Thursday, with a $11.5 billion second-quarter profit smashing the mark it set only three months ago, lifted by strong gas trading and a tripling of refining profit. The company also ann…
I personally don't think mandating all actors to altruistically abstain from transacting at market price would be a sound policy, but that seems to be what liberals want.
Earlier quoted context omitted.
what's your point? you dont think the administration plays any role in the increased gas prices, it's only the evil+greedy oil execs?
> you dont think the administration plays any role in the increased gas prices Essentially correct. Presidents have very little control over this.
https://www.cnbc.com/2022/02/24/biden-administration-pausing...
We could drill our away out of this problem, but we are not, because the the biden administration is being held hostage by the progressive left. And before you start calling me a republican, im not one, but this is just a really stupid idea because it's decisions like this that will cause republicans to be elected in 2022 and 2024 - the american public isnt going to take higher gas prices for the team to fight climate change at this point, they are going to vote people into office that will lower them. biden doesnt realize this because he is surrounded by people that think a like and are too rich to be unaffected by inflation, or he doesnt care -- either way, it s a bad position