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Jul 29 2022 03:47am
Quote (Sioux @ Jul 28 2022 11:23pm)
If we want to define recession as 2 quarters of negative GDP growth, we had a trump recession. There's a reason economists don't generally use that definition as there's always more nuance than a single number can tell you when it comes to the economy.



Things seemed to level off quick given the strong labor market. There was much larger GDP contraction under trump, and outside of that, it seems like similar conditions now, so I wouldn't start screaming doomsday yet.


The China virus and consequent lock-downs pushed by democrats were Trump's fault right? There's another guy in office right now and don't worry the people understand who's to blame for this record inflation and his Ukraine policy just to name a few.

Hilarious you still try to bring up Trump trying to defend the guy you voted for.
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Jul 29 2022 03:55am
Quote (Goomshill @ 29 Jul 2022 04:40)
When Trump left office, the nationwide average gas price was $2.39 / gallon. It went up to a high of over $5 / gallon last month, and currently has "come down" to $4.27 / gallon


Sorry but the world gas price is not dependent on your president. Don't think the US more important than it actually is.
The US president can only turn small screws, even in his own country.
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Jul 29 2022 07:06am
Quote (BaHgerAUT @ Jul 29 2022 04:55am)
Sorry but the world gas price is not dependent on your president. Don't think the US more important than it actually is.
The US president can only turn small screws, even in his own country.


The president who provoked a foreign war that destabilized oil markets, put up trade barriers that skyrocketed energy prices, shuttered domestic production and is pursuing an agenda of punitive measures against energy producers and consumers?
You know what happens to a bicycle when a guy with a wrench pulls out all the screws?
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Jul 29 2022 08:03am
Quote (Djunior @ Jul 28 2022 08:38am)



Dumb graph even if the policy would of caused inflation the programs hadn’t even started yet. No partisan BTW
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Jul 29 2022 08:22am
Quote (Goomshill @ Jul 29 2022 06:06am)
The president who provoked a foreign war that destabilized oil markets, put up trade barriers that skyrocketed energy prices, shuttered domestic production and is pursuing an agenda of punitive measures against energy producers and consumers?
You know what happens to a bicycle when a guy with a wrench pulls out all the screws?


so now Biden is responsible for the war and global inflation?
And the domestic oil story isn't that simple.. Look at how many approved permits aren't used, profit margins for oil companies.
I'm pretty sure it was RU tanks crossing into another country that started the war. Putin was in no military threat from anyone./fact
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Jul 29 2022 08:39am
Quote (theCrossbones @ Jul 29 2022 09:22am)
so now Biden is responsible for the war and global inflation?
And the domestic oil story isn't that simple.. Look at how many approved permits aren't used, profit margins for oil companies.
I'm pretty sure it was RU tanks crossing into another country that started the war. Putin was in no military threat from anyone./fact


Biden is more responsible for it than any other person on the planet, even Madeleine Albright. VP Biden was the primary architect of the US backing of the coup to overthrow the democratically elected government in Ukraine and replace it with a US puppet government and NATO expansion, and then when he became President Biden he took a hard line on Ukraine and drove for conflict with Russia instead of deconfliction. That makes him the proximate instigator.

And Biden's tired line about "approved permits" is just pure spin from the press secretary's podium to try to deflect. Energy leases go unused because they are speculative land grabs whether or not feasible well sites could be found (and more importantly, whether local/state/federal permitting processes ever get past the 'indefinitely delayed' stage), and the leases are just that, temporary stake claims that are returned after 10 years if unused, not to mention already forbidden by the leasing act from locking up land to be unproductive.
There's a mineral lease in the Iron Range that started its environmental review in 2005 and has been tied up by an endless series of court challenges and re-re-re-re-re-permitting processes that hasn't started operation in 2022, even though the corporation put down all the necessary investment and even spent more on environmental protection than the mine itself. There could be people working the mine who were born after its lease was acquired.


Thats the real joke, the democrats tie up energy production in red tape and then years later point to the red tape and say 'look, its not practical' or 'they're going unused'. Nuclear energy is a prime example of that

This post was edited by Goomshill on Jul 29 2022 08:41am
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Jul 29 2022 09:25am
PSA: the united states is the world's largest producer of oil.
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Jul 29 2022 09:27am
Quote (thesnipa @ Jul 29 2022 10:25am)
PSA: the united states is the world's largest producer of oil.


I'm just glad to be back on the rigs..... Somewhat steady
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Jul 29 2022 11:06am
Quote (Goomshill @ Jul 29 2022 09:39am)
There's a mineral lease in the Iron Range that started its environmental review in 2005 and has been tied up by an endless series of court challenges and re-re-re-re-re-permitting processes that hasn't started operation in 2022, even though the corporation put down all the necessary investment and even spent more on environmental protection than the mine itself. There could be people working the mine who were born after its lease was acquired.


Thats the real joke, the democrats tie up energy production in red tape and then years later point to the red tape and say 'look, its not practical' or 'they're going unused'. Nuclear energy is a prime example of that


The proposed mine is blocked for good reason as it would be situated within the Boundary Waters wetlands ecosystem and risk freshwater reserves among other things. This ecosystem is a series of wetlands, waterways, underground aquifers, underground lakes beneath bog, feeds into many other water systems in northern Minnesota. Feeds into Lake Superior, this is estimated 10-20percent of the Earth's purest freshwater. The risk is not worth the reward right now, especially with other mine projects going on. My 140 foot deep well drinks from this system. Also, the fires near the Boundary Waters and on the Range proved how inadequate emergency response is within a dense national bog forest.

The Twin Metal mine proposed near Tamarack is a much better risk vs reward payoff with it's physical location and survey results. The mine is further from the freshwater ecosystems and easily accessible relative to the town. Have some friends working the survey drilling rigs down that way. They've also published scientific journals on using the mining byproduct to scrub CO2 for a net negative carbon footprint mine

This post was edited by RedFromWinter on Jul 29 2022 11:15am
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Jul 29 2022 11:17am
Quote (Goomshill @ Jul 28 2022 02:18pm)
Yes, we had the start of a recession in the last year of Trump's presidency.


Also, for the record, we didn't. Other indicators that go into declaring a recession looked good still in 20120, and things like employment, industrial output and income are still trending in the right directions in 2022.

This is from 2010 before you screech about REDEFINING RECESSION TO HELP BIDEN https://www.frbsf.org/economic-research/publications/economic-letter/2010/february/diagnosis-recessions/
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