RE:RE:RE:Canada’s true inflation rate matt2018 wrote: What do you mean by "fabricated oil shortage"?
Are you saying the weekly EIA reports are bogus?
If sleepy Joe hadn't drawn the 180M bbls out of the SPR in the last year and a half and those 180M bbls had to be drawn from regular Commercial stocks to meet the demand, price of oil would likely now be closer to US$150+ bbl.
liljohnnyjoke wrote: Oil has gone from @ $68 in July to $91 in mid September and looks to be headed to $100 near term driven by a fabricated oil shortage and Hedge funds using that to continuously drie prices up. So oil prices will be up +40% in a couple months.
Of course the Fed doesnt factor energy prices in to inflation so will likely not increase rates at Sept meeting.
But wait until they get the inflation numbers for Sept/Oct as prices for goods start to doulbe again and pakaging once again starts to shrink.
As before when they waited to long to start raising rates they will be forced t o start another fast sucession of 0.5 rate hikes starting in November then a few more in early 2024 before they step out of the way for the election. That recession will finally come to be.
late to the convo.
i have problem with lilhjohhnyjoke post too.
If he believe oil shortage is fabricated, then i can also say oil surplus can be fabricated too. Biden can release all of the remaining SPR and drive oil price down, for the short term. There are also the medium term, and long term aspect of oil when discussing oil supply and its price.