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Business, Economics, and Taxes: Capitalism. Yay? >=(

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Kepler said:
Bills of Attainder, Letters of Marque and Reprisal.

I have such a raging erection right now.
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Dr. Krieger?
archer-stop-my-penis-can-only-get-so-erect.gif
 
dxmnkd316 said:
To be clear, two days ago I had never heard of a letter of marque and reprisal and I'm sh--itposting out of my a-ss.

:-D
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TIL the United States has never disavowed the practice of privateering and did not sign the 1856 Paris Declaration.
 
Eh, I looked for the $5 Gas thread and couldn't find it on the first twelve pages, so I'm posting this here.

https://vm.tiktok.com/TTPdAkGpCG/

If you're on TikTok, @mrglobaltoo is heavily involved in the oil and gas industry, and has been sharing some pretty informative tidbits from his work. He's routinely called out by both sides as being partisan to the other side, often on the same time.

Anyway, the point he's making in this video, is that despite Republicans whining about Democrats, green energy, and how they will kill the oil industry; he points out how if Republicans would shut up, use green energy to offset *foreign* oil, we could truly be energy independent.

He also notes that if you statistically look back at oil drill sites, oil heads in use, etc., there's barely a difference between either party in the White House. He even notes that Trump was bad for the US O&G industry when he interfered by asking OPEC to increase production.

He's been a great follow and insightful.
 
All I know is, I just paid $4.25 for gas yesterday, which is about a 40-50 cent jump over last week, and given the current situation combined with the impending summer travel season, I expect it to keep going up. I don't think the middle of the country will tolerate any admin overseeing $5/gal gas, regardless of the circumstances. If it's at or pushing $5/gal* in September, I expect the Dems to soundly lose both houses of Congress. Especially as some employers undoubtedly try to cheap out on raises again this year relative to the current rate of inflation.

*Yes, I know it's already $5+/gal on the coasts
 
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FadeToBlack&Gold said:
All I know is, I just paid $4.25 for gas yesterday, which is about a 40-50 cent jump over last week, and given the current situation combined with the impending summer travel season, I expect it to keep going up. I don't think the middle of the country will tolerate any admin overseeing $5/gal gas, regardless of the circumstances. If it's at or pushing $5/gal* in September, I expect the Dems to soundly lose both houses of Congress. Especially as some employers undoubtedly try to cheap out on raises again this year relative to the current rate of inflation.

*Yes, I know it's already $5+/gal on the coasts
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People voting Dems out due to the price of gas would prove how idiotic many voters are. Oil/gas companies are raking in record profits and their price hikes have very little do with Democratic policies.
 
Slap Shot said:
People voting Dems out due to the price of gas would prove how idiotic many voters are. Oil/gas companies are raking in record profits and their price hikes have very little do with Democratic policies.
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:-)

mookie just had a PA peep text him that pump prices south of Pitt jumped from 397 to 437 since Friday and blamed green liberals and their agenda.
mookie asked how many internal combustion engine vehicles were removed from the roads since he missed that when reading the news over the weekend. mookie is sure even this wouldn’t have slipped past fox!!
 
I mean if you need context:

https://www.theguardian.com/business...hell-exclusive

Exclusive: oil companies’ profits soared to $174bn this year as US gas prices rose
Exxon, Chevron, Shell and BP among group of 24 who resisted calls to increase production but doled out shareholder dividends

More: https://www.npr.org/2022/02/13/10804...sing-inflation

But here's another reality. While families are dealing with sticker shock, profits for companies that put these goods on shelves - well, those are skyrocketing. Data from the U.S. Commerce Department shows that corporate profit margins are the largest they've been in 70 years.
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WEBER: Companies always want to maximize profits, right? In the current context, they suddenly cannot deliver as much anymore as they used to. And this creates an opening where they can say, well, we are facing increasing costs. We are facing all these issues. So we can explain to our customers that we are raising our prices. No one knows how much exactly these prices should be increased. And everybody has some sort of an understanding that, oh, yeah, there are issues, so, yes, of course companies are increasing prices in ways in which they could not justify in normal times.
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But this does not mean that the actual amount of price increase is justified by the increase in costs. And as a matter of fact, what we have seen is that profits are skyrocketing, which means that companies have increased prices by more than cost. In the earnings reports, companies have bragged about how they have managed to be ahead of the inflation curve, how they have managed to jack up prices more than their costs and as a result have delivered these record profits.
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WEBER: President Biden has called out that the prices for unfinished gasoline were down by 5%, where the prices at the gas station went up by 3%. So in other words, companies that are selling gas at the gas station are increasing prices by more, or, in this case, are not handing down the price decrease that they had enjoyed in November. This was the argument of the president. So, yes, the president has to step in. How exactly to do it is beyond my expertise as an economist.
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More:
https://www.marketplace.org/2022/01/...ite-inflation/
https://www.businessinsider.com/comp...laints-2021-12
https://finance.yahoo.com/news/big-b...153924756.html

Jon Stewart yadda, yadda but this adds some perspective:

Finally from Bernie:

Oil company revenues since last year:

Exxon: ⬆️ 57%

Chevron: ⬆️ 84%

Shell: ⬆️ 49%

BP: ⬆️ 45%

We cannot allow big oil companies to continue to take advantage of the war in Ukraine & inflation to make huge profits by jacking up gas prices. We need a windfall profits tax.
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I agree with Bernie. Unfortunately the policy makers in the United States only give a shit about their donors and their money and not their citizens.
 
I wish dumbass Americans would treat paying for health care like they do gas. Get mad about going bankrupt when you get sick

drill baby drill. It’s only destroying the planet, who cares
 
Our planet is fucked. We’re fucked. We’ve been playing stupid fucking games for far too many decades now. Our stupid fucking prizes are already upon us, and they’ll only going to get worse before they ever might get better. Doesn’t mean we should give up, but my goodness we’re the frog in the slowly boiled pot of water.
 
psych said:
Our planet is fucked. We’re fucked. We’ve been playing stupid fucking games for far too many decades now. Our stupid fucking prizes are already upon us, and they’ll only going to get worse before they ever might get better. Doesn’t mean we should give up, but my goodness we’re the frog in the slowly boiled pot of water.
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Churchill allegedly said, “You can always count on the Americans to do the right thing after they have exhausted all other possibilities.” Maybe humanity is the same.
 
I heard a figure today which even my jaded and addled mind has difficulty accepting. According to this speaker on I think the Beeb, for the oil they receive Europe pays Russia one billion dollars a day.

I have to think that if you shut that off Russia's government falls within weeks.
 
psych said:
Our planet is fucked. We’re fucked. We’ve been playing stupid fucking games for far too many decades now. Our stupid fucking prizes are already upon us, and they’ll only going to get worse before they ever might get better. Doesn’t mean we should give up, but my goodness we’re the frog in the slowly boiled pot of water.
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quote-the-planet-is-fine-the-people-are-f-d-because-everyone-is-trying-to-save-the-planet-george-carlin-87-46-59.jpg
 
Jake tapper has some chode Republican on. Wants us to drill more, open up anwar.

fuck every Republican with a hot spiked poker
 
News: Starbucks suspends operations in Russia.

Not News: It took 12 fucking days for Starbucks to suspend operations in Russia.

Putin is the mini-boss.

Capitalism is the final boss.
 
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