Presidents cannot "control" markets, but they absolutely influence them all the bloody time. They influence them when they want to and when they don't want to.
When Brandon --first day on the job -- began the war on energy as defined by cancelling the Keystone XL Pipeline, banning exploration in ANWR, and halting all leases and auctions on Federal lands, the game changed immediately.
All routine capital spending necessary to support the Oil Patch stopped. Boom!
Within 90 days, the US went from energy independence and being a net exporter of crude with 13.1MM bbl/day to less than 10MM bbl/day.
Once we lost the global pricing power of having excess crude to sell into the market, prices for crude and its derivative gasoline went up. Within a short period of time, gas prices doubled.
This is not theory. This is info gleaned at the pump every second of every day.
When did inflation throw off the shackles of Fed policy, 2% performance, and 4% "worst case" scenarios? Right then.
This genie is not going back in the bottle. [Oddly enough, the Oil Patch is going to thrive on $100 oil shortly. Weird.]
The economic forecast is far worse than you write.
1. We are looking at pathetic GDP growth -- maybe a major recession.
2. We will see rising interest rates. Guaranteed. Already printed.
3. We are in the midst of huge inflation -- CPI, PPI grossly understate what is really happening. Go to the meat counter at your local grocery. Build something. We will see double digit inflation by year end.
4. Brandon will never reverse his energy policies and therefore high energy costs as a core component of inflation is here forever.
5. Labor is going to demand an increasing level of compensation in accordance with inflation and those labor increases will drive inflation even higher.
6. What is the admin's response? Flood the country with literally trillions of dollars. Hugely inflationary.
The Fed Chair is the only adult in the entire country. Nobody is thinking about deficits, the National Debt, or balancing the checkbook.
China and Russia are going to test the US. Count on it. Going to get very sporty. Very, very, very sporty.
We are at this vulnerable point in US history because of the Pandemic and the worst leadership ever. Perfect Storm-ish, but real AF.
Hire a clown, expect a circus. The circus is in town, y'all, and elephant scat is everywhere. We are nowhere near the end of the beginning.
I don't know what China will do, but they are most certainly on the march. My guess is more of the same exerting more and more control over the third world. Russia will take Ukraine. I don't think China will try and take Taiwan. When you compare Biden's team to Trump's team, there are distinct differences. Biden's team were selected on the basis of gender, color, sex orientation etc. Most were academics, or career bureaucrats. The career bureaucrats know how to pull the levers of the Executive branch, and have empathetic people serving there already. Trump's team usually were experts in the fields they were going to oversee. There were exceptions of course (Mitch McConnell's wife as Sec of Labor for example). But, I don't think most of Trump's team knew how to pull the levers of power, and they had antagonistic people in the agencies they oversaw that gummed up the works. This is why I favor a guy like DeSantis as the next President. He's been a big time government executive and you would assume he knows how to reform the Executive Branch of government
Elaine Chao was exquisitely qualified to be Sec of Labor.
1. She was Sec of Labor under Geo W Bush FOR 8 YEARS. Pretty strong qualification.
2. Director of the Peace Corp under Geo HW Bush
3. Family is huuuuuge in shipping. Old man gave $40MM to Harvard
4. Harvard MBA
DeSantis still has a thin resume. I like him very much, but I see no real evidence that he knows how the Federal gov't runs or has been a "big time government executive."
1. Yale undergrad, Harvard Law
2. Navy JagOff
3. Three terms in House -- voted straight Trump
4. Been Florida Gov since 2018 -- done a damn good job
I do think Governors make better Presidents as they are use to the budget rigor of a balanced budget.
Joe Biden knows how the gov't works. You have to to be a grifter.
It is time to start using the term "failed presidency" to describe the Biden admin. His Cabinet is woefully unqualified and a pork pull of social engineering with the results now speaking clearly for themselves.
Going out on a limb here, but I bet that her marriage to that Mitch McConnell guy had more to do with her being Sec of Labor for a second time than her old man's money. Could be wrong.
Presidents cannot "control" markets, but they absolutely influence them all the bloody time. They influence them when they want to and when they don't want to.
When Brandon --first day on the job -- began the war on energy as defined by cancelling the Keystone XL Pipeline, banning exploration in ANWR, and halting all leases and auctions on Federal lands, the game changed immediately.
All routine capital spending necessary to support the Oil Patch stopped. Boom!
Within 90 days, the US went from energy independence and being a net exporter of crude with 13.1MM bbl/day to less than 10MM bbl/day.
Once we lost the global pricing power of having excess crude to sell into the market, prices for crude and its derivative gasoline went up. Within a short period of time, gas prices doubled.
This is not theory. This is info gleaned at the pump every second of every day.
When did inflation throw off the shackles of Fed policy, 2% performance, and 4% "worst case" scenarios? Right then.
This genie is not going back in the bottle. [Oddly enough, the Oil Patch is going to thrive on $100 oil shortly. Weird.]
The economic forecast is far worse than you write.
1. We are looking at pathetic GDP growth -- maybe a major recession.
2. We will see rising interest rates. Guaranteed. Already printed.
3. We are in the midst of huge inflation -- CPI, PPI grossly understate what is really happening. Go to the meat counter at your local grocery. Build something. We will see double digit inflation by year end.
4. Brandon will never reverse his energy policies and therefore high energy costs as a core component of inflation is here forever.
5. Labor is going to demand an increasing level of compensation in accordance with inflation and those labor increases will drive inflation even higher.
6. What is the admin's response? Flood the country with literally trillions of dollars. Hugely inflationary.
The Fed Chair is the only adult in the entire country. Nobody is thinking about deficits, the National Debt, or balancing the checkbook.
China and Russia are going to test the US. Count on it. Going to get very sporty. Very, very, very sporty.
We are at this vulnerable point in US history because of the Pandemic and the worst leadership ever. Perfect Storm-ish, but real AF.
Hire a clown, expect a circus. The circus is in town, y'all, and elephant scat is everywhere. We are nowhere near the end of the beginning.
JLM
www.themusingsofthebigredcar.com
#Brandon
I don't know what China will do, but they are most certainly on the march. My guess is more of the same exerting more and more control over the third world. Russia will take Ukraine. I don't think China will try and take Taiwan. When you compare Biden's team to Trump's team, there are distinct differences. Biden's team were selected on the basis of gender, color, sex orientation etc. Most were academics, or career bureaucrats. The career bureaucrats know how to pull the levers of the Executive branch, and have empathetic people serving there already. Trump's team usually were experts in the fields they were going to oversee. There were exceptions of course (Mitch McConnell's wife as Sec of Labor for example). But, I don't think most of Trump's team knew how to pull the levers of power, and they had antagonistic people in the agencies they oversaw that gummed up the works. This is why I favor a guy like DeSantis as the next President. He's been a big time government executive and you would assume he knows how to reform the Executive Branch of government
Elaine Chao was exquisitely qualified to be Sec of Labor.
1. She was Sec of Labor under Geo W Bush FOR 8 YEARS. Pretty strong qualification.
2. Director of the Peace Corp under Geo HW Bush
3. Family is huuuuuge in shipping. Old man gave $40MM to Harvard
4. Harvard MBA
DeSantis still has a thin resume. I like him very much, but I see no real evidence that he knows how the Federal gov't runs or has been a "big time government executive."
1. Yale undergrad, Harvard Law
2. Navy JagOff
3. Three terms in House -- voted straight Trump
4. Been Florida Gov since 2018 -- done a damn good job
I do think Governors make better Presidents as they are use to the budget rigor of a balanced budget.
Joe Biden knows how the gov't works. You have to to be a grifter.
It is time to start using the term "failed presidency" to describe the Biden admin. His Cabinet is woefully unqualified and a pork pull of social engineering with the results now speaking clearly for themselves.
JLM
www.themusingsofthebigredcar.com
DeSantis, Best state in the union as far as Covid Management. Chao is a grifter. If her old man didn't have money, she'd have to get a real job.
Going out on a limb here, but I bet that her marriage to that Mitch McConnell guy had more to do with her being Sec of Labor for a second time than her old man's money. Could be wrong.
JLM
www.themusingsofthebigredcar.com
S&P 500 +9.6%? Is that after the trough/bottom? Or from 12/31/21 to 12/31/22?