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Author: Subject: Economic red meat

Maximum Peach



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  posted on 1/9/2019 at 10:22 PM
quote:

Wow, not a single person here acknowledged that overall growth of middle class income was a great thing and a long time coming. Lots of good data sprouting during the Trump years.

Plus gas is 2 bucks a gallon or less, you morons.


I mentioned the over 3% growth in wages.

Gas varies depending where you live. But yeah it is $1.80-$2.15 where I frequent. I actually feel based on crude prices gas is high still, but it never quite comes down where it used to be once it rises. Trump told everyone why oil is low “it’s not an accident, it’s talent”. He actually said that his talent that lowered oil prices. Nothing about maybe an oversupply or global demand fears. Nope, anything good is always Trump’s doing and anything bad is the Democrats fault. And I say this you know I defend his positions when warranted. He, or his administration, gets credit for extending and expanding the economic growth. He doesn’t deserve any credit for where oil prices are currently at.

 

Peach Extraordinaire



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  posted on 1/10/2019 at 12:20 AM
quote:

Wow, not a single person here acknowledged that overall growth of middle class income was a great thing and a long time coming. Lots of good data sprouting during the Trump years.

Plus gas is 2 bucks a gallon or less, you morons.


If we are using gas prices as a measure of success as a leader, you must think the president of Venezuela is a genius since gas is only 3 cents a gallon there.


 

Maximum Peach



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  posted on 1/10/2019 at 07:17 AM
OPEC and other related oil producing countries will be cutting anywhere from 800,000 to the 1.2 million barrels a day based off their December meeting, cuts which appear on target for January (or exceeded those levels). Trump want to take credit for that too? He may've convinced them to keep pumping this summer but his influence at this point on their decisions isn't a factor.
 

Sublime Peach



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  posted on 1/10/2019 at 01:01 PM
quote:
your stupidity is your problem


quote:
you morons


Why don't you two just get a room?

 

World Class Peach



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  posted on 1/10/2019 at 07:54 PM
Goob,
Can you concretely explain how the President has been responsible for the lower gas prices?

 

Ultimate Peach



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  posted on 1/10/2019 at 08:16 PM


Less regulatory burden, a very pro-energy (American) stance, influence on OPEC policy, the strength of the American dollar. Do you need more?

 

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Zen Peach



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  posted on 1/10/2019 at 08:19 PM
Google is your friend.

 

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Ultimate Peach



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  posted on 1/10/2019 at 08:22 PM
No, my own thoughts. Feel free to quote them.

 

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World Class Peach



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  posted on 1/10/2019 at 10:24 PM
Since Google was suggested, I will bite:

"Low demand for gasoline this winter has helped total domestic gas stocks grow, causing pump prices to drop." That is according to AAA - https://gasprices.aaa.com/gas-stocks-surge-as-demand-remains-low/


___________________________________________________________________________ ________

"Energy experts say the decline in prices is largely motivated by market forces outside the president’s control. But experts attribute at least part of the recent drop to the Trump administration’s decision to soften hard-line sanctions against Iran — allowing waivers for eight countries to buy oil from Iran.
Blaming or crediting a president for rising or falling gasoline prices is a regular, bipartisan political ploy. In May, we wrote that Democratic Sen. Chuck Schumer placed too much blame on Trump for rising gasoline prices at the time. President Barack Obama also found himself a frequent target of partisan attacks for rising gas prices.
Experts say those kinds of attacks hold little merit, as a president’s influence doesn’t drive gasoline prices. And that’s largely true now. But Trump has also been “uncharacteristically involved” in matters relating to oil, as one expert put it to us, and could arguably have had marginally more influence than past presidents."

https://www.factcheck.org/2018/11/is-trump-responsible-for-falling-gasoline -prices/

OK, so the argument is that we should be glad that the Pres has softened sanctions against Iran, because we'd rather have cheap gas than sanctions against Iran. Do you buy that?

___________________________________________________________________________ __________


"Gas prices are moving lower for one simple reason. The price of oil continues to fall, thanks to rising production and falling demand.
Building stockpiles
The Energy Information Administration (EIA) reports U.S. oil supplies rose for a 10th straight week, increasing to 450 million barrels. This week's EIA report shows oil stockpiles are about 7 percent higher than the five-year average for this time of year.
“Growth in global crude production, including in the U.S., combined with weaker than expected global crude demand for the fourth quarter have helped to push crude prices lower,” AAA said in its latest market update."

https://www.consumeraffairs.com/news/gas-prices-close-to-a-2018-low-113018. htmh


So, rather than off-the-cuff guesswork, there are 3 sources weighing in. To what extent you give all the credit to Trump or less to Trump is a test of your political leanings.

 

Maximum Peach



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  posted on 1/10/2019 at 10:36 PM
One of the quotes there by Jim cited EIA data. I just wanted to say that EIA data is outstanding!

Here, I wanted to chum the water on the economy a bit:

quote:
Manufacturing industry posts biggest annual job gain in 20 years



The manufacturing industry posted net job gains of 284,000 over 2018, capping its best calendar year since 1997.

A priority for President Donald Trump, manufacturing saw marked hiring in December with an additional 32,000 jobs. Most of the gains occurred in blue-collar durable goods manufacturing, with growth in fabricated metals and computer and electronic products, the Labor Department said in its release. The definition of durable goods is items with a life expectancy of three years or more, such as automobiles, furniture and machinery.

Manufacturing added 207,000 jobs in 2017.

https://www.cnbc.com/2019/01/04/manufacturing-posts-best-calendar-year-for- job-gains-since-1997.html


That is pretty outstanding for just two years; 491,000 job growth in the manufacturing sector '17 and '18. The same numbers can be found in the bls report - https://www.bls.gov/web/empsit/ceshighlights.pdf

 

Zen Peach



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  posted on 1/10/2019 at 11:39 PM
quote:
No, my own thoughts. Feel free to quote them.


No, I meant the other way around.

 

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Peach Extraordinaire



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  posted on 1/11/2019 at 07:41 AM
quote:
No, my own thoughts. Feel free to quote them.


LOL!!!! Yeah SURE it was. With that stellar education and degree in business? Please.

 
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