Categories
Anti American left Price Controls

Price Controls Coming?

Biden is going after oil company profits, blaming them for the rising fuel prices that have been caused by his policies. Russians, Republicans, oil companies, it is everyone else’s fault that his socialist policies are failing. Isn’t that always the case when communism and socialism fail? They didn’t do it right? Or something?

At any rate, he has demanded that they slash profits and make more fuel. This is impossible, of course. US refineries are already at 96% of capacity, and it would take years to build new refinery capacity, even if the Democrats would grant the permits. In fact, oil companies will likely not build another refinery in the US, ever. Since the west has stopped buying Russian fuel, the refineries that are remaining just can’t keep up.

Instead, the left will continue to blame oil company profits. Look for price controls to come next. Perhaps a Biden EO nationalizing the oil industry. Or a 100% tax on oil company profits, or perhaps they will come up with something else that is even less likely to work, but more likely to screw things up more. Why?

That’s what socialists/communists do.

Categories
economics The Collapse

75 basis points coming at ya

The Fed is expected to raise the benchmark funds rate by three quarters of a percent today. Goldman Sachs is now predicting consecutive 75 basis point rate hikes in June and July, followed by a 50 basis point move in September and 25 basis point moves in November and December, taking the fed funds rate to a range of 3.25%-3.5% by the end of the year.

Keep in mind that the rate has been, with the exception of FY2019, at an average of less than one percent since 2008. The Fed chairman has now said that he will have to purposely cause a recession in order to get inflation under control. Think about that for a minute, and what that means. The powers that be are going to purposely shut down the nation’s economy.

Meanwhile, gas prices near me are at $4.95 a gallon. If I drive 10 miles away, I can hit Sam’s club and get $4.53 a gallon, meaning that a single fill up of my pickup’s 40 gallon gas tank pays for nearly my entire annual membership fee.

Things are about to get a whole lot worse. We are so incredibly screwed.

Categories
economics Economy

No Mean Tweets

People are complaining as housing costs rise. This teacher can’t afford to buy a home that she wants, but also complains that rent is too expensive, as rent costs nationwide are above $2,000 for the first time ever. But, hey, she doesn’t have to read mean Tweets, so she has that going for her.

“Rents are going up just as fast as home prices are,” says Fairweather. Yes, that is how economics works. People buy houses, then rent them out. If the cost to buy goes up, then so does rent. The same thing happens in restaurants, when the cost of food goes up, the prices at the restaurant go up. It isn’t rocket science. Take a look:

Beginning in February/March of 2021, rents began to skyrocket. Renting a home costs 15% more than it did a year ago. If only we could pinpoint an event that happened in January of 2021 that could be responsible for this rapid increase in housing costs.

Reading her Linked in page, she lists the following as her causes:

Children • Education • Human Rights • Politics • Poverty Alleviation • Social Services

Given that, I am guessing that she voted for Biden. Fuck her. She is getting EXACTLY what she voted for. Boo fucking hoo.

Categories
economics Price Controls

Smarter Than You

A Massachusetts service station owner says that oil companies are making too much profit from gasoline sales, so is now refusing to sell it any longer. He has decided that it is better for people not to be able to buy gasoline at any price, than to sell it for the market rate, because profits are evil.

This is the typical liberal mentality: “You are too stupid to make the decision as to whether or not gasoline is too expensive, so I will make that decision for you. Go buy an electric car, or something.”

Categories
Price Controls

Party of Science

This is why science can’t be trusted. Orange County, Florida’s commission hired a consulting firm to study whether or not putting rent controls in place would be productive. The consulting firm noted that rent controls wouldn’t work, mainly because the supply of rental housing is being overwhelmed by demand. They went on to say that capping rents would further reduce supply. In other words, basic economic theory.

The county government is not happy that the facts didn’t fit their version of reality and are demanding a refund.

“If (commissioners) saw that a consultant who was supposed to do fact-finding on rent stabilization was so biased as to say you’re getting outside attention, then we really should get a refund on this report,” (County Commissioner) Bonilla said. “Unfortunately, it looks like they were not ready to do the job they were hired to do, and they were too biased to provide a report that we deserved.”

Says the commissioner who is pushing for rent control

Categories
economics The Collapse

Collapsing

California average gas prices just broke $6 a gallon. The national average is currently 25% less than that at $4.59 a gallon, but many experts are calling for gas prices to reach $6 a gallon within the next 60 days. So they are calling for a 25% increase in 2 months, meaning that fuel prices are now doubling every 8 months. Since everything you buy has to be transported from one place to the other, this will continue to contribute to inflation.

In fact, gas stations in Washington state are already preparing for $10 a gallon gasoline prices. We are on the cusp of seeing hyperinflation and a collapse of the US economy.

Categories
economics Price Controls

Venezuela as a Map

The Fed is asking businesses to enact a hiring freeze to help fight inflation. The thought here is to cut off the demand for labor, which will prevent wages from increasing. This will in turn lower the amount of money available to chase goods, which will reduce demand and thereby control inflation. In other words, they want to make everyone poorer by keeping you from being able to get a job or run your business.

This is a common scenario for socialism/communism:

  • They enact policies of free stuff, which causes runaway inflation.
  • To combat that inflation, they begin wage and price controls.
  • This causes shortages of goods and labor.

How long will it be before we are eating our pets?

Inflation won’t be controlled by keeping people poor on purpose. It will be controlled by stopping leftist idiots in the government from doing things like mailing out checks so people can have free Internet.

Categories
economics

Inflation

Citrus County, Florida median home price was $195k in February of 2021. In March of 2022, that had risen to $280k. A 44 percent increase in 13 months. That makes the 30% increase in rent prices seem tame.

Thanks, Brandon.

Categories
economics

Pass The Gasoline

Amidst the highest level of inflation since Jimmy Carter, the current resident of the White House is considering throwing gasoline on the fire by waving his executive pencil and forgiving $10,000 in student loan debt per borrower.

The administration claims that this will forgive $321 billion in loans, but my back of the napkin figures place that at closer to $400 billion. In any case, that means that another $350 billion or so dollars will suddenly be added to the dollars circulating through this inflationary economy in a time when we should be tightening economic purse strings, not spending like there is no tomorrow.

Inflation will continue to get worse. It’s like a couple of 14 year old kids are playing with a can of gasoline and some matches. In the house.

Categories
economics

More Inflation

Publix supermarket has had a free prescription program since 2007. A list of medications including blood pressure, diabetes, and antibiotic medications were free at Publix for the past 15 years. The supermarket chain claims to have filled over 100 million free prescriptions during that time.

That comes to an end on June 1. Instead, many of those medications will be available for $7.50 for a 90 day supply WITH INSURANCE. So those who have relied on Publix to fill prescriptions will now have to scramble to find insurance.

Inflation in the Biden economy continues.