Author Topic: INFLATION IS OUR FRIEND  (Read 19358 times)

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Offline morekaos

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Re: INFLATION IS OUR FRIEND
« Reply #150 on: October 14, 2021, 03:06:42 PM »
OK...you live in California right?  This is a California forum, right?  A 47% increase in per gallon prices since Granpa Joe took over is inflationary, right?  Or is this some of that friendly inflation we have been talking about?

CALIFORNIA AVERAGE GAS PRICES
                      Regular   Mid-Grade   Premium   Diesel
Current Avg.   $4.455   $4.640   $4.767   $4.524
Yesterday Avg.   $4.448   $4.636   $4.760   $4.513
Week Ago Avg.   $4.429   $4.615   $4.741   $4.468
Month Ago Avg.   $4.393   $4.586   $4.710   $4.390
Year Ago Avg.   $3.203   $3.385   $3.505   $3.344
HIGHEST RECORDED AVERAGE PRICE
Price   Date
Regular Unleaded         $4.671   10/9/12
Diesel                       $5.152   5/30/08


Orange County
                      Regular      Mid       Premium   Diesel
Current Avg.   $4.413   $4.616   $4.721   $4.454
Yesterday Avg.   $4.409   $4.609   $4.715   $4.443
Week Ago Avg.   $4.399   $4.598   $4.700   $4.378
Month Ago Avg.   $4.361   $4.560   $4.664   $4.271
Year Ago Avg.   $3.158   $3.341   $3.445   $3.234
HIGHEST RECORDED AVERAGE PRICE
Price   Date
Regular Unleaded         $4.690   10/8/12
Diesel                       $5.164   5/30/08

https://gasprices.aaa.com/?state=CA

Do you even understand why there's price increase? Do you understand supply and demand? Like I said, it has absolutely NOTHING whatsoever who's the President. Stop being dense.

Far more than you could ever understand…On these topics I am far more qualified to comment on them then you. But let’s not get into a resume pissing match… ;D ;D >:D

Offline CalBears96

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Re: INFLATION IS OUR FRIEND
« Reply #151 on: October 14, 2021, 03:09:17 PM »
OK...you live in California right?  This is a California forum, right?  A 47% increase in per gallon prices since Granpa Joe took over is inflationary, right?  Or is this some of that friendly inflation we have been talking about?

CALIFORNIA AVERAGE GAS PRICES
                      Regular   Mid-Grade   Premium   Diesel
Current Avg.   $4.455   $4.640   $4.767   $4.524
Yesterday Avg.   $4.448   $4.636   $4.760   $4.513
Week Ago Avg.   $4.429   $4.615   $4.741   $4.468
Month Ago Avg.   $4.393   $4.586   $4.710   $4.390
Year Ago Avg.   $3.203   $3.385   $3.505   $3.344
HIGHEST RECORDED AVERAGE PRICE
Price   Date
Regular Unleaded         $4.671   10/9/12
Diesel                       $5.152   5/30/08


Orange County
                      Regular      Mid       Premium   Diesel
Current Avg.   $4.413   $4.616   $4.721   $4.454
Yesterday Avg.   $4.409   $4.609   $4.715   $4.443
Week Ago Avg.   $4.399   $4.598   $4.700   $4.378
Month Ago Avg.   $4.361   $4.560   $4.664   $4.271
Year Ago Avg.   $3.158   $3.341   $3.445   $3.234
HIGHEST RECORDED AVERAGE PRICE
Price   Date
Regular Unleaded         $4.690   10/8/12
Diesel                       $5.164   5/30/08

https://gasprices.aaa.com/?state=CA

Do you even understand why there's price increase? Do you understand supply and demand? Like I said, it has absolutely NOTHING whatsoever who's the President. Stop being dense.

Far more than you could ever understand…On these topics I am far more qualified to comment on them then you. But let’s not get into a resume pissing match… ;D ;D >:D

And yet you blame Biden for it? Okay, buddy.

Offline eyephone

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Re: INFLATION IS OUR FRIEND
« Reply #152 on: October 14, 2021, 03:14:23 PM »
OK...you live in California right?  This is a California forum, right?  A 47% increase in per gallon prices since Granpa Joe took over is inflationary, right?  Or is this some of that friendly inflation we have been talking about?

CALIFORNIA AVERAGE GAS PRICES
                      Regular   Mid-Grade   Premium   Diesel
Current Avg.   $4.455   $4.640   $4.767   $4.524
Yesterday Avg.   $4.448   $4.636   $4.760   $4.513
Week Ago Avg.   $4.429   $4.615   $4.741   $4.468
Month Ago Avg.   $4.393   $4.586   $4.710   $4.390
Year Ago Avg.   $3.203   $3.385   $3.505   $3.344
HIGHEST RECORDED AVERAGE PRICE
Price   Date
Regular Unleaded         $4.671   10/9/12
Diesel                       $5.152   5/30/08


Orange County
                      Regular      Mid       Premium   Diesel
Current Avg.   $4.413   $4.616   $4.721   $4.454
Yesterday Avg.   $4.409   $4.609   $4.715   $4.443
Week Ago Avg.   $4.399   $4.598   $4.700   $4.378
Month Ago Avg.   $4.361   $4.560   $4.664   $4.271
Year Ago Avg.   $3.158   $3.341   $3.445   $3.234
HIGHEST RECORDED AVERAGE PRICE
Price   Date
Regular Unleaded         $4.690   10/8/12
Diesel                       $5.164   5/30/08

https://gasprices.aaa.com/?state=CA

Do you even understand why there's price increase? Do you understand supply and demand? Like I said, it has absolutely NOTHING whatsoever who's the President. Stop being dense.

Far more than you could ever understand…On these topics I am far more qualified to comment on them then you. But let’s not get into a resume pissing match… ;D ;D >:D

And yet you blame Biden for it? Okay, buddy.

Yeah, he does not want to talk about the global energy crisis. He will do anything to try to make fun of Biden. This same guy praised the Russian Army. He has made fun of US female soldiers. He does not know about NYC transportation. Maybe he does not live in the US.

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Offline morekaos

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Re: INFLATION IS OUR FRIEND
« Reply #153 on: October 14, 2021, 03:18:22 PM »
Certainly policy and tenure of this administration has contributed mightily in a real and perceived way. Whether you believe that or not, the electorate will. Other administrations would at least try to address the pricing ( release oil from the SPR or open investigations into evil oil companies) but this douche likes high energy costs…he thinks it will save the planet.  However, producers do take cues from policy and they will be slow to increase domestic production to ease supply so prices will continue this ascent for now.

Offline Soylent Green Is People

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Re: INFLATION IS OUR FRIEND
« Reply #154 on: October 14, 2021, 04:25:35 PM »
Gas pricing is a combination of demand use, available oil to distill, taxation, and storage.

Per Reuters, 2020 saw 8.0 million barrels per day of oil use, with 2021 expected to climb to 8.8 million BPD. (+10%)

In 2020 US production reached 16.5m BPD.
In 2021 it's to fall to about 11.12m BPD per the US Energy Information Administration.  (-31%)

Per the IAE International production through 2026 will still meet world demand.

https://www.iea.org/reports/oil-2021

so..... if demand is increasing, International production still able to meet said demand but US production is falling, a major reason for gas prices rising is because something happened in 2021 that caused US production to fall. It wasn't the cost of a barrel of oil that kept producers from drilling. Oil prices have been rising from 2021's average of $39 to 2021's average of $65 per barrel. It's not shortages from other nations. It's not fracking bans ( https://www.foodandwaterwatch.org/2021/09/15/federal-drilling-and-fracking-update-biden-promised-a-ban-hes-doing-the-opposite/ )

High local prices are more than likely due to wage and taxation policies here in The Soviet Republic of California. That's on Newsom. Why else would gas in Arizona average $3.37 PG? Why else would gas in Nevada average $3.86 PG? Why else would gas average $3.76 in Oregon? The other reason would be the price suppression that increased US production represented during 2017-2020 but no longer exists today. Given the current administrations stance on fossil fuels would anyone want to "drill baby drill"? That part is on Joe and Congress.

As referenced by some, "May we live during interesting times". Indeed we are.
My .02c

SGIP

Offline fatduck

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Re: INFLATION IS OUR FRIEND
« Reply #155 on: October 14, 2021, 05:43:53 PM »
I mean, the opposition to fossil fuels isn't just for funsies

(incoming daily mail article about the "green mafia" or something)
« Last Edit: October 14, 2021, 06:22:08 PM by fatduck »

Offline eyephone

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Re: INFLATION IS OUR FRIEND
« Reply #156 on: October 14, 2021, 06:21:51 PM »
Say that to yourself that the high energy prices is only in California and no other place in the world. Forget what Putin just said.

Gas pricing is a combination of demand use, available oil to distill, taxation, and storage.

Per Reuters, 2020 saw 8.0 million barrels per day of oil use, with 2021 expected to climb to 8.8 million BPD. (+10%)

In 2020 US production reached 16.5m BPD.
In 2021 it's to fall to about 11.12m BPD per the US Energy Information Administration.  (-31%)

Per the IAE International production through 2026 will still meet world demand.

https://www.iea.org/reports/oil-2021

so..... if demand is increasing, International production still able to meet said demand but US production is falling, a major reason for gas prices rising is because something happened in 2021 that caused US production to fall. It wasn't the cost of a barrel of oil that kept producers from drilling. Oil prices have been rising from 2021's average of $39 to 2021's average of $65 per barrel. It's not shortages from other nations. It's not fracking bans ( https://www.foodandwaterwatch.org/2021/09/15/federal-drilling-and-fracking-update-biden-promised-a-ban-hes-doing-the-opposite/ )

High local prices are more than likely due to wage and taxation policies here in The Soviet Republic of California. That's on Newsom. Why else would gas in Arizona average $3.37 PG? Why else would gas in Nevada average $3.86 PG? Why else would gas average $3.76 in Oregon? The other reason would be the price suppression that increased US production represented during 2017-2020 but no longer exists today. Given the current administrations stance on fossil fuels would anyone want to "drill baby drill"? That part is on Joe and Congress.

As referenced by some, "May we live during interesting times". Indeed we are.

Offline nosuchreality

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Re: INFLATION IS OUR FRIEND
« Reply #157 on: October 14, 2021, 06:35:26 PM »
President Obama left office with Federal expenditures of $3.9T.
Donald Trump left office four years later with expenditures at $7.2T.
And the year before he left at $6.5T.

That’s a lot of juice.

And projections for the next four years are for expenditures to remain above $6T.

Magically our tax revenue will increase from $3.5T where it’s been growing at the rate of GDP growth for the last decade to $5.3T.

Online sleepy5136

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Re: INFLATION IS OUR FRIEND
« Reply #158 on: October 14, 2021, 07:58:40 PM »
I think it's funny that we complain about $5/gallon for gas. Have you guys ever went to Europe? They are probably close to $10/gallon now. When I was in Iceland and Norway, it was $7-$8/gallon.

Honestly, I don't care if gas gets more expensive. Driving should be a luxury like it is in Singapore. A Toyota Corolla costs 100k USD and the driving permit is around 30k USD. Not factoring in that you need to change cars every 10 years and renew your permit then as well. We will then be forced to build mass transit and follow other first world countries (China/HK/Japan/Taiwan/Europe). If you need a car? Rent one. I honestly hate owning a car and would rather take public transportation if that option was efficient as other first world counterparts. A depreciating asset is a waste of money and time in traffic is a waste of time.

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Offline USCTrojanCPA

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Re: INFLATION IS OUR FRIEND
« Reply #159 on: October 14, 2021, 08:08:43 PM »
Mass transit/public transportation sucks balls in SoCal and unfortunately most people need a car to get around SoCal because of suburban sprawl (which has increased with the work-from-home movement).  Unfortunately the kind of higher inflation that we are seeing is hurting those folks on the lower side of the social economic status a lot worse than everyone else even with the higher entry level wages being offered (businesses are passing on those higher labor costs to customers).
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Online sleepy5136

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Re: INFLATION IS OUR FRIEND
« Reply #160 on: October 14, 2021, 08:22:07 PM »
Mass transit/public transportation sucks balls in SoCal and unfortunately most people need a car to get around SoCal because of suburban sprawl (which has increased with the work-from-home movement).  Unfortunately the kind of higher inflation that we are seeing is hurting those folks on the lower side of the social economic status a lot worse than everyone else even with the higher entry level wages being offered (businesses are passing on those higher labor costs to customers).
If China can build mass transit and have that be the dominant form of transportation, America has no excuse as to why it can't be done. Suburban neighborhoods in SoCal are not bigger than China.

People always get fixated on the cost of mass transit, but never understand the benefits of it. If you had mass transit, people on the lower side of the social economic status will benefit the most. They wouldn't need to pay for a car (car payments, insurance, gas, maintenance), they would have access to higher paying jobs in the city without needing to be stuck in traffic, living away from city but getting city pay means housing affordability isn't an issue, traffic would be less of a problem, more jobs to the economy, etc. Benefits far outweigh the cons, but of course, politics and lobbying by the car manufacturers get in the way of making any progress in mass transit.

Oh and not to mention that having mass transit would actually help with the obesity problem. Because it will force you to walk to the station and to your destination. Instead of sitting all day long.

Offline eyephone

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Re: INFLATION IS OUR FRIEND
« Reply #161 on: October 14, 2021, 08:26:38 PM »
I think it's funny that we complain about $5/gallon for gas. Have you guys ever went to Europe? They are probably close to $10/gallon now. When I was in Iceland and Norway, it was $7-$8/gallon.

Honestly, I don't care if gas gets more expensive. Driving should be a luxury like it is in Singapore. A Toyota Corolla costs 100k USD and the driving permit is around 30k USD. Not factoring in that you need to change cars every 10 years and renew your permit then as well. We will then be forced to build mass transit and follow other first world countries (China/HK/Japan/Taiwan/Europe). If you need a car? Rent one. I honestly hate owning a car and would rather take public transportation if that option was efficient as other first world counterparts. A depreciating asset is a waste of money and time in traffic is a waste of time.

We talked about on talk irvine in a different thread previously regarding the lack of public transportation in OC.

Offline USCTrojanCPA

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Re: INFLATION IS OUR FRIEND
« Reply #162 on: October 14, 2021, 08:30:53 PM »
Mass transit/public transportation sucks balls in SoCal and unfortunately most people need a car to get around SoCal because of suburban sprawl (which has increased with the work-from-home movement).  Unfortunately the kind of higher inflation that we are seeing is hurting those folks on the lower side of the social economic status a lot worse than everyone else even with the higher entry level wages being offered (businesses are passing on those higher labor costs to customers).
If China can build mass transit and have that be the dominant form of transportation, America has no excuse as to why it can't be done. Suburban neighborhoods in SoCal are not bigger than China.

People always get fixated on the cost of mass transit, but never understand the benefits of it. If you had mass transit, people on the lower side of the social economic status will benefit the most. They wouldn't need to pay for a car (car payments, insurance, gas, maintenance), they would have access to higher paying jobs in the city without needing to be stuck in traffic, living away from city but getting city pay means housing affordability isn't an issue, traffic would be less of a problem, more jobs to the economy, etc. Benefits far outweigh the cons, but of course, politics and lobbying by the car manufacturers get in the way of making any progress in mass transit.

Oh and not to mention that having mass transit would actually help with the obesity problem. Because it will force you to walk to the station and to your destination. Instead of sitting all day long.

Of course mass transit CAN be built out but it won't because there is so much wasted gov't spending.  Why did they even spend any time and money on a high speed train from SoCal to NorCal and SoCal to Vegas? Those funds could have been better spent on local mass transit.
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Online sleepy5136

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Re: INFLATION IS OUR FRIEND
« Reply #163 on: October 14, 2021, 08:46:08 PM »
Mass transit/public transportation sucks balls in SoCal and unfortunately most people need a car to get around SoCal because of suburban sprawl (which has increased with the work-from-home movement).  Unfortunately the kind of higher inflation that we are seeing is hurting those folks on the lower side of the social economic status a lot worse than everyone else even with the higher entry level wages being offered (businesses are passing on those higher labor costs to customers).
If China can build mass transit and have that be the dominant form of transportation, America has no excuse as to why it can't be done. Suburban neighborhoods in SoCal are not bigger than China.

People always get fixated on the cost of mass transit, but never understand the benefits of it. If you had mass transit, people on the lower side of the social economic status will benefit the most. They wouldn't need to pay for a car (car payments, insurance, gas, maintenance), they would have access to higher paying jobs in the city without needing to be stuck in traffic, living away from city but getting city pay means housing affordability isn't an issue, traffic would be less of a problem, more jobs to the economy, etc. Benefits far outweigh the cons, but of course, politics and lobbying by the car manufacturers get in the way of making any progress in mass transit.

Oh and not to mention that having mass transit would actually help with the obesity problem. Because it will force you to walk to the station and to your destination. Instead of sitting all day long.

Of course mass transit CAN be built out but it won't because there is so much wasted gov't spending.  Why did they even spend any time and money on a high speed train from SoCal to NorCal and SoCal to Vegas? Those funds could have been better spent on local mass transit.
It's not wasted money, it's politics. Let's make sure we get that straight.

Offline USCTrojanCPA

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Re: INFLATION IS OUR FRIEND
« Reply #164 on: October 14, 2021, 08:58:36 PM »
Mass transit/public transportation sucks balls in SoCal and unfortunately most people need a car to get around SoCal because of suburban sprawl (which has increased with the work-from-home movement).  Unfortunately the kind of higher inflation that we are seeing is hurting those folks on the lower side of the social economic status a lot worse than everyone else even with the higher entry level wages being offered (businesses are passing on those higher labor costs to customers).
If China can build mass transit and have that be the dominant form of transportation, America has no excuse as to why it can't be done. Suburban neighborhoods in SoCal are not bigger than China.

People always get fixated on the cost of mass transit, but never understand the benefits of it. If you had mass transit, people on the lower side of the social economic status will benefit the most. They wouldn't need to pay for a car (car payments, insurance, gas, maintenance), they would have access to higher paying jobs in the city without needing to be stuck in traffic, living away from city but getting city pay means housing affordability isn't an issue, traffic would be less of a problem, more jobs to the economy, etc. Benefits far outweigh the cons, but of course, politics and lobbying by the car manufacturers get in the way of making any progress in mass transit.

Oh and not to mention that having mass transit would actually help with the obesity problem. Because it will force you to walk to the station and to your destination. Instead of sitting all day long.

Of course mass transit CAN be built out but it won't because there is so much wasted gov't spending.  Why did they even spend any time and money on a high speed train from SoCal to NorCal and SoCal to Vegas? Those funds could have been better spent on local mass transit.
It's not wasted money, it's politics. Let's make sure we get that straight.

Same difference to me.  Regardless, improved mass transit in SoCal will remain a pipe dream so if you want to get around in SoCal you'll need a car.
Martin Mania, CPA
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