POTUS 46.10: A New Hope

[ticapnews]

Wait until the fed raises interest rates to 10%

 

[Handyman]

Yeah sure thing...will happen about the time I am named head coach of the Gophers.

 

[ticapnews]

Yeah sure thing...will happen about the time I am named head coach of the Gophers.

The rate is now 4.75%. 11 months ago it was .25%

 

[aparch]

... They also don't blame inflation on him either because basic math is all you need to prove it is all price gouging and profiteering.
...

Unfortunately, the Dems are too busy patting themselves and Biden on the back that they forgot to stay on that message. Both parties have moved on to other things. Dems need to at least pretend to get back into investigating it.

 

[ticapnews]

Unfortunately, the Dems are too busy patting themselves and Biden on the back that they forgot to stay on that message. Both parties have moved on to other things. Dems need to at least pretend to get back into investigating it.

Their corporate sponsors gave them a bunch of b̶r̶i̶b̶e̶s̶ campaign contributions to remind them to blame inflation on the poors. Wages are too high, you know.

 

[Kepler]

Unfortunately, the Dems are too busy patting themselves and Biden on the back that they forgot to stay on that message.

No. This makes no sense.

Concentrate on facts. Ignore the Nazi short bus. Celebrate wins.

The Dems have been doing fine on messaging, we just have a LOLMets narrative for lofo reddit guttersnipes who don't matter.

This party of mealy-mouthed liberals drives me crazy with rage but for the last few cycles they have messaged fine. The only people who have a right to complain are the ones who actually are taking up razors and killing Nazis in their sleep and then slipping away per Malreaux' La Condition humaine.

And frankly that's too real for this bear.

 

[rufus]

Their corporate sponsors gave them a bunch of b̶r̶i̶b̶e̶s̶ campaign contributions to remind them to blame inflation on the poors. Wages are too high, you know.

And nobody wants to work anymore. So those that do are bearing the brunt while they just sit at home, living the life of luxury on that glorious welfare.

 

[Drew S.]

This isn’t Biden’s fault at all but I think the economy is pretty bad right now for people who don’t own their house. Things are likely to get worse for them too.

 

[unofan]

The rate is now 4.75%. 11 months ago it was .25%

So right now it is in line with historical norms after about 15 years of historical lows.

You're going to have to do better than that if you want to replace Scooby as the board's resident Debbie downer.

 

[aparch]

No. This makes no sense.

Concentrate on facts. Ignore the Nazi short bus. Celebrate wins.

ExxonMobil, four days ago, just announced $56 Billion, with a B, of *profit*, not revenue, for 2022.

https://www.reuters.com/business/en...ngs-record-with-59-billion-profit-2023-01-31/

Chevron announced they doubled their profits in 2022. Doubled. They pocketed $37 Billion.

https://www.cnbc.com/2023/01/27/chevron-cvx-2022-profit-doubles-to-record-36point5-billion.html

Shell also doubled their profits. $40B

https://www.bbc.com/news/uk-64489147

BP hasn't released their full 2022 report yet, but they did announce that their third quarter profit was $8B, on top of a second quarter profit of $9.5B

https://www.bp.com/en/global/corpor...sentations/quarterly-results-and-webcast.html

https://www.cnbc.com/2022/11/01/bp-earnings-q3-2022.html

ConocoPhillips doubled their profits in 2022 as well, clearing $19B themselves.

https://www.reuters.com/business/en...osts-higher-fourth-quarter-profit-2023-02-02/

France based Totalenergies also doubled their profits, in 2022 matching ConocoPhillips, and thats *after* having to write off their *entire* Russia division and investments as a loss.

https://www.reuters.com/business/en...billion-net-profits-third-quarter-2022-10-27/

So excuse me for not having warm fuzzy feelings celebrating "Joe Biden helping the American people by lowering gas prices for a couple months," when we're not having having Katie Porter publicly destroy these CEOs with a whiteboard.

 

[ticapnews]

So right now it is in line with historical norms after about 15 years of historical lows.

You're going to have to do better than that if you want to replace Scooby as the board's resident Debbie downer.

Jerome Powell has said that there needs to be "pain" (why there needs to be pain is never explained) and we still haven't felt that pain. The economy keeps rolling along. Expectations are for the fed to raise rates above 5% at the next meeting.

ExxonMobil, four days ago, just announced $56 Billion, with a B, of *profit*, not revenue, for 2022.

https://www.reuters.com/business/en...ngs-record-with-59-billion-profit-2023-01-31/

Chevron announced they doubled their profits in 2022. Doubled. They pocketed $37 Billion.

https://www.cnbc.com/2023/01/27/chevron-cvx-2022-profit-doubles-to-record-36point5-billion.html

Shell also doubled their profits. $40B

https://www.bbc.com/news/uk-64489147

BP hasn't released their full 2022 report yet, but they did announce that their third quarter profit was $8B, on top of a second quarter profit of $9.5B

https://www.bp.com/en/global/corpor...sentations/quarterly-results-and-webcast.html

https://www.cnbc.com/2022/11/01/bp-earnings-q3-2022.html

ConocoPhillips doubled their profits in 2022 as well, clearing $19B themselves.

https://www.reuters.com/business/en...osts-higher-fourth-quarter-profit-2023-02-02/

France based Totalenergies also doubled their profits, in 2022 matching ConocoPhillips, and thats *after* having to write off their *entire* Russia division and investments as a loss.

https://www.reuters.com/business/en...billion-net-profits-third-quarter-2022-10-27/

So excuse me for not having warm fuzzy feelings celebrating "Joe Biden helping the American people by lowering gas prices for a couple months," when we're not having having Katie Porter publicly destroy these CEOs with a whiteboard.

Just more proof this is all the fault of the working class. Pain incoming!

 

[rufus]

But ask the 1% to share in that pain by raising their taxes 5%, and whoo boy, are you being unserious and partisan.

 

[Kepler]

Since supposedly the entire economy depends on the rich, won't raising taxes on them slow the economy?

We should just raise taxes on the rich instead of f-cking around with interest rates. Unemployment spreads pain through tens of millions who have no savings, let's restrict the pain to tens of thousands of people who have billions of savings, instead.

Note that also recirculates that wealth into the economy instead of hoarding it.

 

[ticapnews]

Since supposedly the entire economy depends on the rich, won't raising taxes on them slow the economy?

We should just raise taxes on the rich instead of f-cking around with interest rates. Unemployment spreads pain through tens of millions who have no savings, let's restrict the pain to tens of thousands of people who have billions of savings, instead.

Note that also recirculates that wealth into the economy instead of hoarding it.

You're a Socialist. We now know that's Anti-American. Off to Gitmo with you.

 

[unofan]

We should just raise taxes on the rich instead of f-cking around with interest rates.

You're right. But 1) that's not a tool the fed can control, and 2) good luck doing that with a GOP majority house.

The interest rate is a great tool for controlling inflation. I doubt many economists would disagree.
It's a shitty tool for controlling unemployment or responding to a recession. I also doubt many economists would disagree with that.
The problem is the tools that are good for the latter are locked behind the broken institution that is Congress.

 

[Kepler]

The Fed is chartered to both watch inflation and unemployment. But since Greenspan it's been strictly a tool for Wall Street. They cut the people of this nation loose, just like their buddies.

A wasted half century.

 

[burd]

You're a Socialist. We now know that's Anti-American. Off to Gitmo with you.

In truth, how can you believe, much less respect, a person who wants to remove God, the institution of marriage, the opportunity to succeed, and The Beatles from our lives,

 

[Handyman]

So right now it is in line with historical norms after about 15 years of historical lows.

You're going to have to do better than that if you want to replace Scooby as the board's resident Debbie downer.

Forget it he is rolling...

 

[ticapnews]

Forget it he is rolling...

So is Jerome.

The Committee seeks to achieve maximum employment and inflation at the rate of 2 percent over the longer run. In support of these goals, the Committee decided to raise the target range for the federal funds rate to 4-1/2 to 4-3/4 percent. The Committee anticipates that ongoing increases in the target range will be appropriate in order to attain a stance of monetary policy that is sufficiently restrictive to return inflation to 2 percent over time.

​​​​​​

 

[Kepler]

In truth, how can you believe, much less respect, a person who wants to remove God, the institution of marriage, the opportunity to succeed, and The Beatles from our lives,

That's not true. I like marriage.