Inflation For Dummies. Gas Prices For Dummies.

[Rockport Zebra]

you're being a total idiot or just a troll, or both.

you get your info from the PR arms of Wall St, and wonder why that isn't reliable??

do you actually not grasp when you're listening to Wall St's PR machine?

idiocracy.

if you dispute what i say, do better than just say someone on CNBC or Bloomburg told you otherwise.

actually lay out an credible argument to support your market assertions, that's what i did.

obviously you can't.

as to where i get mine,

a fundamental understanding and grasp of market principles to begin with, (which you obviously don't have, nor are open to learning them), followed by decades in the big boy corporate world and paying attention the whole time, plus paying attention to everything going on today, and putting all that together.

that said, trying to impart wisdom on those unable or unwilling to grasp it, is a fools errand.

that said, go back to post #9 in this thread.

market forces aren't rocket science, or 10 dimensional chess.

basic logic drives them.

if you wish to debate the basic market forces logic i laid in that post, and think you can credibly dispute it, make my day.

you can't. know you can't.. and thus why you didn't even try, and went the "shoot the messenger" route instead.

i get that all day every day here from both sides.

they can't dispute what i say, thus don't even try.

just go full troll, because they have nothing else.

I'm a little slow but your retort only trashes my sources. What is a fundamental understanding of market forces combined with decades in big boy corporate world? How do your words help a poor guy like me building my wealth by dollar cost averaging?

 

[Victorbmyboy]

this thread should die quick, as neither party or their puppets will like the message.

everything the CORPORATE media has told us about the current inflation, and current gas prices, is complete and total bunk.

first off, let's check actual reality on how business "prices" in the first place, and what pressures are present or are absent that go into that.

business, especially corporations, charge as much as they can get away with, without sufficient price demand curve loss of market share, and/or loss of volume on discretionary purchases, eventually forcing the issue downward.

with gas, not enough of gas consumption is discretionary for gas providers to see loss of volume as much of a downward force.

and gas is monopoly priced, as is oil, it's base ingredient, so there is no real "competitive" market based competitive force downward pressure, other than maybe at the retail level where we're only talking a few cents per gallon.

political forces that keep gas prices down, were usurped by blaming covid and the war.


in the 70s the price jump in gas was driven by the middle east cutting off our supply.

even at outrageous prices for the time, there were shortages of gas at the pump and long lines.

there are no shortages today. none.

anybody have trouble finding gas for sale, or rationing? NO!

and there isn't even the tiniest drop in the supply of oil.

Russia is still pumping and selling as much or more oil today as before the war, they just are selling it to different buyers.

and for every barrel of Russian oil said other buyers are buying, that's one less barrel they are buying from the middle east or South America or other sources.

just as much oil is on the market today as ever.. just some shifting in who gets what where.

oil is high because the industry, a monopoly cartel to begin with, drove up the price, with the help of the corporate media.

and Biden and the oil owned US senate, are doing nothing to pressure the Saudis or the rest of the cartel, to lower them. (like threatening SA to stop being their protectors, or selling them weapons or parts.)

or threaten US companies with a windfall tax that eats up 100% of their added gains.

or breaking up the oligopoly.

or nationalizing US oil. (which should have been done long ago).

gas in the US today is priced as it is, because they can, and there are no pressures, competitive, economic, or governmental, stopping them.

even with the monopoly manipulated, and media driven and enabled, high price of oil, we've all seen that when oil was last at $118 a barrel, US gas was $3.25 gal.

everything over that is just war and pandemic profiteering.




as for car prices, that's just lack of supply driven, because we offshored chip production to China and elsewhere.

real estate. monopoly priced, and not a discretionary purchase.

on top of that, Wall St and hedge funds are now buying up real estate, and paying cash funded by the Fed, so individuals can't compete on price.

as are small investors, as real estate is more valuable as a rental, or after flipping gentrification.


meat prices? pork, beef, and poultry, are all effective monopolies now.

they are charging what they are because no one is stopping them, or threatening their monopoly/monopsony price control.

air lines? mass consolidation has made them effectively monopoly controlled.

drugs and healthcare, monopolies.


this inflation is zero percent money supply driven, or supply/shortage driven other than cars, and no one has yet even proven the M1 money supply, (the money that circulates in the everyday economy Joe Buyer lives in), is anymore today than pre pandemic.

yes, the govt gave out money because of the pandemic.. but much of what they gave out went to corps, not individuals, (and a lot claimed to go to individuals never got there), and while the propaganda media cites any and all govt money to individuals, it never gives the other half of the story which is all the lost private based income from the pandemic to individuals.

just because Uncle Mark made out better during the pandemic, a good portion of the population didn't, and until you factor in all the lost economy based income from the pandemic, and it's velocity effect, and not just include any govt handouts, you can't really say the M1 money supply is any greater than pre pandemic.

that said, regardless if the M1 money supply is slightly more, (which we know not), in competitive markets rather than a monopolistic ones, it doesn't matter as to pricing and is irrelevant to the debate.

anyone who gets their inflation or economy information from corporate media, or corporate owned think tanks and economists, including corporate owned academics, need consider taking the source of that pure BS propaganda info into consideration, and who's paying for that story.

anyone telling you this inflation isn't monopoly driven, and lack of regulatory and anti trust driven, is just wrong out of ignorance, or just lying their asses off. (as is the case with the corporate media's and corporate owned academics and think tanks propaganda total BS).

Not completely factual. OPEC and opec plus havnt turned the taps back up to 2019 levels. World oil production is closer to 2014-2015 levels. True that fuel production is up. It’s like 94-95% capacity which is pretty normal. It’s also why you see oil still being exported(not the only reason) they don’t have anywhere to send it for production. It’s a day to day process. The US is damn close to producing at 2019 levels.

 

[Victorbmyboy]

It's possible that refineries are not running at 100% of capacity. I don't know - just throwing it out there as a possibility.

When the President says he's going to destroy your industry, the natural human reaction is to make as much money as you can now. Limiting refinery output is one way of creating a shortage and increase prices, especially with the price of oil so expensive.

Again, I don't know - just a possibility.

Yes they are. They never run at 100% it’s usually 93-95%. So you are kind of right.

 

[Victorbmyboy]

If I remember this correctly, the most recent refinery built in the United States was the in the early 1970's, That means our newest refinery is based on construction principles and technology that is 50 years old. It is almost impossible to build a new refinery between environmental regulations, and the "NIMBYS" who don't want a refinery near them.
However, if We don't have the refining capacity to meet our demand and needs why are We sending Oil overseas to other countries?

It’s not a simple answer. Different kinds of crude. We/they need and want different grades and types. Oil isn’t an exact product plus refineries are running full speed. There is no shortage of gas or oil per se. Gas stocks are not the problem it’s OPEC and OPEC plus driving this bus. Always has. The US will never produce enough to overcome 80% of the market so this drill for our own energy independence. Independent means never trading or buying any overseas oil. We need that oil regardless because of grades. Energy neutral is a better word. Until oil isn't sold on an open market we are held to what OPEC/OPEC plus does. Newsflash guys….we don’t control oil.

 

[DANC]

Yes they are. They never run at 100% it’s usually 93-95%. So you are kind of right.

I consider kind of right to be a victory here. lol

 

[hgdownunder]

and yet if i just posted Biden is an idiot, or Trump is an idiot, i'd have 50 responses by now.

this forum has social conservatives and social liberals, but pretty much only economic far right wing conservatives, who are more than happy to keep everyone fighting all day every day over social issues, which is what their puppet masters want them for. (just as with the Dem and Pub corporate media.

it isn't that people can't handle the truth.

it's that neither party wants the truth out there on anything economic. (not personal, just business).

and the idiocracy and party puppets are totally ok with that.

I love the way you follow up your tl;dr post with this whine about a lack of attention.

 

[Aloha Hoosier]

do you know the difference between a monopoly and oligopoly?

He doesn’t know the difference between logical English and nonsensical gibberish.

 

[NPT]

Yes they are. They never run at 100% it’s usually 93-95%. So you are kind of right.

What a lot of people don't realize is that there are different types of crude oil and the refineries in the US are not set up to refine all types. I read a good article on that about a week ago but I can't find it now.

 

[NPT]

this thread should die quick, as neither party or their puppets will like the message.

everything the CORPORATE media has told us about the current inflation, and current gas prices, is complete and total bunk.

first off, let's check actual reality on how business "prices" in the first place, and what pressures are present or are absent that go into that.

business, especially corporations, charge as much as they can get away with, without sufficient price demand curve loss of market share, and/or loss of volume on discretionary purchases, eventually forcing the issue downward.

with gas, not enough of gas consumption is discretionary for gas providers to see loss of volume as much of a downward force.

and gas is monopoly priced, as is oil, it's base ingredient, so there is no real "competitive" market based competitive force downward pressure, other than maybe at the retail level where we're only talking a few cents per gallon.

political forces that keep gas prices down, were usurped by blaming covid and the war.


in the 70s the price jump in gas was driven by the middle east cutting off our supply.

even at outrageous prices for the time, there were shortages of gas at the pump and long lines.

there are no shortages today. none.

anybody have trouble finding gas for sale, or rationing? NO!

and there isn't even the tiniest drop in the supply of oil.

Russia is still pumping and selling as much or more oil today as before the war, they just are selling it to different buyers.

and for every barrel of Russian oil said other buyers are buying, that's one less barrel they are buying from the middle east or South America or other sources.

just as much oil is on the market today as ever.. just some shifting in who gets what where.

oil is high because the industry, a monopoly cartel to begin with, drove up the price, with the help of the corporate media.

and Biden and the oil owned US senate, are doing nothing to pressure the Saudis or the rest of the cartel, to lower them. (like threatening SA to stop being their protectors, or selling them weapons or parts.)

or threaten US companies with a windfall tax that eats up 100% of their added gains.

or breaking up the oligopoly.

or nationalizing US oil. (which should have been done long ago).

gas in the US today is priced as it is, because they can, and there are no pressures, competitive, economic, or governmental, stopping them.

even with the monopoly manipulated, and media driven and enabled, high price of oil, we've all seen that when oil was last at $118 a barrel, US gas was $3.25 gal.

everything over that is just war and pandemic profiteering.




as for car prices, that's just lack of supply driven, because we offshored chip production to China and elsewhere.

real estate. monopoly priced, and not a discretionary purchase.

on top of that, Wall St and hedge funds are now buying up real estate, and paying cash funded by the Fed, so individuals can't compete on price.

as are small investors, as real estate is more valuable as a rental, or after flipping gentrification.


meat prices? pork, beef, and poultry, are all effective monopolies now.

they are charging what they are because no one is stopping them, or threatening their monopoly/monopsony price control.

air lines? mass consolidation has made them effectively monopoly controlled.

drugs and healthcare, monopolies.


this inflation is zero percent money supply driven, or supply/shortage driven other than cars, and no one has yet even proven the M1 money supply, (the money that circulates in the everyday economy Joe Buyer lives in), is anymore today than pre pandemic.

yes, the govt gave out money because of the pandemic.. but much of what they gave out went to corps, not individuals, (and a lot claimed to go to individuals never got there), and while the propaganda media cites any and all govt money to individuals, it never gives the other half of the story which is all the lost private based income from the pandemic to individuals.

just because Uncle Mark made out better during the pandemic, a good portion of the population didn't, and until you factor in all the lost economy based income from the pandemic, and it's velocity effect, and not just include any govt handouts, you can't really say the M1 money supply is any greater than pre pandemic.

that said, regardless if the M1 money supply is slightly more, (which we know not), in competitive markets rather than a monopolistic ones, it doesn't matter as to pricing and is irrelevant to the debate.

anyone who gets their inflation or economy information from corporate media, or corporate owned think tanks and economists, including corporate owned academics, need consider taking the source of that pure BS propaganda info into consideration, and who's paying for that story.

anyone telling you this inflation isn't monopoly driven, and lack of regulatory and anti trust driven, is just wrong out of ignorance, or just lying their asses off. (as is the case with the corporate media's and corporate owned academics and think tanks propaganda total BS).

Is everything that is done in this world a conspiracy?

 

[Victorbmyboy]

What a lot of people don't realize is that there are different types of crude oil and the refineries in the US are not set up to refine all types. I read a good article on that about a week ago but I can't find it now.

They can it’s just not cost effective or efficient for some. They mix it usually.

 

[NPT]

They can it’s just not cost effective or efficient for some. They mix it usually.

I was reading an article the other day that said they couldn't refine it without a costly modification to the refinery.

 

[Victorbmyboy]

I was reading an article the other day that said they couldn't refine it without a costly modification to the refinery.

That’s true if it’s just that one type but they do mix them. They were probably talking about tar sand. That stuff is awful.

 

[i'vegotwinners]

I love the way you follow up your tl;dr post with this whine about a lack of attention.

i love how you didn't dispute anything i said, just whined that i said it.

i get that a lot.

and yes, this board, and literally all corporate media as well, has almost zero economic liberal representation.

take my posts away, and like literally ALL corporate media, which is basically ALL media, this board would have zero economic liberal, (working class), representation.

i'm guessing you won't like my expressing those truths either, even if you can't dispute them.

 

[UncleMark]

That’s true if it’s just that one type but they do mix them. They were probably talking about tar sand. That stuff is awful.

You mean the Canadian stuff that Biden is blocking won't just flow straight into my gas tank?

 

[Victorbmyboy]

You mean the Canadian stuff that Biden is blocking won't just flow straight into my gas tank?

Biden didn’t block that crap. It still flows through the 3rd phase of the keystone pipe. Nasty stuff is so abrasive it ruins pipe. It’s literally the worst petroleum product on the planet.

 

[Rockport Zebra]

I'm a little slow but your retort only trashes my sources. What is a fundamental understanding of market forces combined with decades in big boy corporate world? How do your words help a poor guy like me building my wealth by dollar cost averaging?

Looks like I trashed you. You didn't answer my questions for advice, but you continue to spout off about the collusion conspiracy involving the entire world.