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The New Coffee Room

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  3. Bidenomics At Work

Bidenomics At Work

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  • JollyJ Offline
    JollyJ Offline
    Jolly
    wrote on last edited by
    #182

    But, but, Mr. Biden is producing lots of petroleum!

    “Cry havoc and let slip the DOGE of war!”

    Those who cheered as J-6 American prisoners were locked in solitary for 18 months without trial, now suddenly fight tooth and nail for foreign terrorists’ "due process". — Buck Sexton

    1 Reply Last reply
    • taiwan_girlT Offline
      taiwan_girlT Offline
      taiwan_girl
      wrote on last edited by
      #183

      LOL. @jolly. I think you are stretching a bit to blame the higher gas prices on President Biden.

      Its like me saying that it is all President Trump's fault that he did not get more refineries built when he was president. That is what is the current cause of the short refinery ultiltization.

      Im sure that @Renauda probably has better insight on capacity and demand in oil market.

      1 Reply Last reply
      • AxtremusA Offline
        AxtremusA Offline
        Axtremus
        wrote on last edited by
        #184

        If you want new refineries "now" the time to start building them was 4~5 years ago.

        JollyJ jon-nycJ 2 Replies Last reply
        • AxtremusA Axtremus

          If you want new refineries "now" the time to start building them was 4~5 years ago.

          JollyJ Offline
          JollyJ Offline
          Jolly
          wrote on last edited by
          #185

          @Axtremus said in Bidenomics At Work:

          If you want new refineries "now" the time to start building them was 4~5 years ago.

          Marathon was built in 1977. The next U.S. refinery was permitted and built during the Trump Administration.

          Is Mr. Resident permitting any new refineries?

          “Cry havoc and let slip the DOGE of war!”

          Those who cheered as J-6 American prisoners were locked in solitary for 18 months without trial, now suddenly fight tooth and nail for foreign terrorists’ "due process". — Buck Sexton

          taiwan_girlT 1 Reply Last reply
          • JollyJ Jolly

            @Axtremus said in Bidenomics At Work:

            If you want new refineries "now" the time to start building them was 4~5 years ago.

            Marathon was built in 1977. The next U.S. refinery was permitted and built during the Trump Administration.

            Is Mr. Resident permitting any new refineries?

            taiwan_girlT Offline
            taiwan_girlT Offline
            taiwan_girl
            wrote on last edited by
            #186

            @Jolly said in Bidenomics At Work:

            built during the Trump Administration.

            Started up in 2022, due the overall guidance of President Biden. LOL

            The reason the refinery was construct was to make ULSD (Ultra low sulfur diesel) for ships. The requirement for ULSD for ships was passed in during President Obama term, so we can say that he was responsible for this building of the refinery. (Even though the sulfur requirement is an international requirement)

            (My point is that it is a stretch to say that one president or another is solely responsible for high/low gas prices. There is so so much out of their control)

            JollyJ 1 Reply Last reply
            • AxtremusA Axtremus

              If you want new refineries "now" the time to start building them was 4~5 years ago.

              jon-nycJ Offline
              jon-nycJ Offline
              jon-nyc
              wrote on last edited by
              #187

              @Axtremus said in Bidenomics At Work:

              If you want new refineries "now" the time to start building them was 4~5 years ago.

              Probably more like 20 years ago or more. We don’t like to build things anymore.

              Only non-witches get due process.

              • Cotton Mather, Salem Massachusetts, 1692
              CopperC 1 Reply Last reply
              • jon-nycJ jon-nyc

                @Axtremus said in Bidenomics At Work:

                If you want new refineries "now" the time to start building them was 4~5 years ago.

                Probably more like 20 years ago or more. We don’t like to build things anymore.

                CopperC Offline
                CopperC Offline
                Copper
                wrote on last edited by Copper
                #188

                @jon-nyc said in Bidenomics At Work:

                We don’t like to build things anymore.

                Front page this morning.

                Demand growing for subs, workers

                Newport News Shipbuilding hiring thousands as Navy’s needs continue to rise

                By Caitlyn Burchett Staff writer

                As the demand for nuclear-powered submarines increases, Newport News Shipbuilding said it’s working to hire 3,000 skilled trades workers this year and a total of 19,000 within the decade.

                https://enewspaper.dailypress.com/html5/desktop/production/default.aspx?pubid=f5d212d2-1993-47fc-8d61-7dad92f77671&edid=3ca73816-70fe-4ae5-856c-42fcef7a74e2

                a9367f9f-9163-482c-a696-c468fbe93d3b-image.png

                1 Reply Last reply
                • jon-nycJ Offline
                  jon-nycJ Offline
                  jon-nyc
                  wrote on last edited by
                  #189

                  👍

                  Only non-witches get due process.

                  • Cotton Mather, Salem Massachusetts, 1692
                  1 Reply Last reply
                  • taiwan_girlT taiwan_girl

                    @Jolly said in Bidenomics At Work:

                    built during the Trump Administration.

                    Started up in 2022, due the overall guidance of President Biden. LOL

                    The reason the refinery was construct was to make ULSD (Ultra low sulfur diesel) for ships. The requirement for ULSD for ships was passed in during President Obama term, so we can say that he was responsible for this building of the refinery. (Even though the sulfur requirement is an international requirement)

                    (My point is that it is a stretch to say that one president or another is solely responsible for high/low gas prices. There is so so much out of their control)

                    JollyJ Offline
                    JollyJ Offline
                    Jolly
                    wrote on last edited by
                    #190

                    @taiwan_girl said in Bidenomics At Work:

                    @Jolly said in Bidenomics At Work:

                    built during the Trump Administration.

                    Started up in 2022, due the overall guidance of President Biden. LOL

                    The reason the refinery was construct was to make ULSD (Ultra low sulfur diesel) for ships. The requirement for ULSD for ships was passed in during President Obama term, so we can say that he was responsible for this building of the refinery. (Even though the sulfur requirement is an international requirement)

                    (My point is that it is a stretch to say that one president or another is solely responsible for high/low gas prices. There is so so much out of their control)

                    The refinery I was referring to worked with shale oil. Wasn't familiar with a ULSD refinery. Where's it at and how big is it?

                    “Cry havoc and let slip the DOGE of war!”

                    Those who cheered as J-6 American prisoners were locked in solitary for 18 months without trial, now suddenly fight tooth and nail for foreign terrorists’ "due process". — Buck Sexton

                    taiwan_girlT 1 Reply Last reply
                    • JollyJ Jolly

                      @taiwan_girl said in Bidenomics At Work:

                      @Jolly said in Bidenomics At Work:

                      built during the Trump Administration.

                      Started up in 2022, due the overall guidance of President Biden. LOL

                      The reason the refinery was construct was to make ULSD (Ultra low sulfur diesel) for ships. The requirement for ULSD for ships was passed in during President Obama term, so we can say that he was responsible for this building of the refinery. (Even though the sulfur requirement is an international requirement)

                      (My point is that it is a stretch to say that one president or another is solely responsible for high/low gas prices. There is so so much out of their control)

                      The refinery I was referring to worked with shale oil. Wasn't familiar with a ULSD refinery. Where's it at and how big is it?

                      taiwan_girlT Offline
                      taiwan_girlT Offline
                      taiwan_girl
                      wrote on last edited by
                      #191

                      @Jolly It is the Texas International Terminals refinery in Galveston, Texas in the south of the US. It is small for a refinery however.

                      But I think that is the only "brand new" refinery to be build in the US recently.

                      1 Reply Last reply
                      • George KG Offline
                        George KG Offline
                        George K
                        wrote on last edited by
                        #192

                        https://www.cbsnews.com/news/joann-bankruptcy-filing-stores/?ftag=CNM-00-10aab7e&linkId=363930095

                        Fabric and crafts retailer Joann declared bankruptcy on Monday amid spending cutbacks from consumers and higher operating costs. The retail chain said it plans to keep its 800-plus stores open while it works through the restructuring process.

                        Hudson, Ohio-based Joann, which filed for Chapter 11 bankruptcy, reported between $1 billion and $10 billion in debt. In court documents filed Monday, the retailer blamed higher costs from shipping overseas products, as well as waning consumer demand.

                        As part of its bankruptcy, Joann said it has received about $132 million in new financing and expects to reduce its balance sheet's funded debt by about $505 million. The financing is "a significant step forward" to help Joann continue operating its stores, Scott Sekella, Joann's chief financial officer said in a statement.

                        The filing marks the latest in a series of major retailers that have filed for bankruptcy in recent years, including GNC, J.C. Penney and Party City. Brick-and-mortar retailers have struggled as Americans have increasingly shifted their spending to online rivals such as Amazon.com.

                        In Joann's case, the company was buoyed in the early days of the pandemic as the shutdown spurred some consumers to take up crafts and other projects. But during the past two years, Joann's sales have tumbled, with the company blaming consumer cutbacks due to inflation and other economic challenges.

                        "Now look here, you Baltic gas passer... " - Mik, 6/14/08

                        The saying, "Lite is just one damn thing after another," is a gross understatement. The damn things overlap.

                        Doctor PhibesD 1 Reply Last reply
                        • George KG George K

                          https://www.cbsnews.com/news/joann-bankruptcy-filing-stores/?ftag=CNM-00-10aab7e&linkId=363930095

                          Fabric and crafts retailer Joann declared bankruptcy on Monday amid spending cutbacks from consumers and higher operating costs. The retail chain said it plans to keep its 800-plus stores open while it works through the restructuring process.

                          Hudson, Ohio-based Joann, which filed for Chapter 11 bankruptcy, reported between $1 billion and $10 billion in debt. In court documents filed Monday, the retailer blamed higher costs from shipping overseas products, as well as waning consumer demand.

                          As part of its bankruptcy, Joann said it has received about $132 million in new financing and expects to reduce its balance sheet's funded debt by about $505 million. The financing is "a significant step forward" to help Joann continue operating its stores, Scott Sekella, Joann's chief financial officer said in a statement.

                          The filing marks the latest in a series of major retailers that have filed for bankruptcy in recent years, including GNC, J.C. Penney and Party City. Brick-and-mortar retailers have struggled as Americans have increasingly shifted their spending to online rivals such as Amazon.com.

                          In Joann's case, the company was buoyed in the early days of the pandemic as the shutdown spurred some consumers to take up crafts and other projects. But during the past two years, Joann's sales have tumbled, with the company blaming consumer cutbacks due to inflation and other economic challenges.

                          Doctor PhibesD Offline
                          Doctor PhibesD Offline
                          Doctor Phibes
                          wrote on last edited by
                          #193

                          @George-K said in Bidenomics At Work:

                          https://www.cbsnews.com/news/joann-bankruptcy-filing-stores/?ftag=CNM-00-10aab7e&linkId=363930095

                          Fabric and crafts retailer Joann declared bankruptcy on Monday amid spending cutbacks from consumers and higher operating costs. The retail chain said it plans to keep its 800-plus stores open while it works through the restructuring process.

                          Hudson, Ohio-based Joann, which filed for Chapter 11 bankruptcy, reported between $1 billion and $10 billion in debt. In court documents filed Monday, the retailer blamed higher costs from shipping overseas products, as well as waning consumer demand.

                          As part of its bankruptcy, Joann said it has received about $132 million in new financing and expects to reduce its balance sheet's funded debt by about $505 million. The financing is "a significant step forward" to help Joann continue operating its stores, Scott Sekella, Joann's chief financial officer said in a statement.

                          The filing marks the latest in a series of major retailers that have filed for bankruptcy in recent years, including GNC, J.C. Penney and Party City. Brick-and-mortar retailers have struggled as Americans have increasingly shifted their spending to online rivals such as Amazon.com.

                          In Joann's case, the company was buoyed in the early days of the pandemic as the shutdown spurred some consumers to take up crafts and other projects. But during the past two years, Joann's sales have tumbled, with the company blaming consumer cutbacks due to inflation and other economic challenges.

                          Oh my God, my daughter will be devastated. That place is her idea of heaven.

                          I was only joking

                          LuFins DadL 1 Reply Last reply
                          • Doctor PhibesD Doctor Phibes

                            @George-K said in Bidenomics At Work:

                            https://www.cbsnews.com/news/joann-bankruptcy-filing-stores/?ftag=CNM-00-10aab7e&linkId=363930095

                            Fabric and crafts retailer Joann declared bankruptcy on Monday amid spending cutbacks from consumers and higher operating costs. The retail chain said it plans to keep its 800-plus stores open while it works through the restructuring process.

                            Hudson, Ohio-based Joann, which filed for Chapter 11 bankruptcy, reported between $1 billion and $10 billion in debt. In court documents filed Monday, the retailer blamed higher costs from shipping overseas products, as well as waning consumer demand.

                            As part of its bankruptcy, Joann said it has received about $132 million in new financing and expects to reduce its balance sheet's funded debt by about $505 million. The financing is "a significant step forward" to help Joann continue operating its stores, Scott Sekella, Joann's chief financial officer said in a statement.

                            The filing marks the latest in a series of major retailers that have filed for bankruptcy in recent years, including GNC, J.C. Penney and Party City. Brick-and-mortar retailers have struggled as Americans have increasingly shifted their spending to online rivals such as Amazon.com.

                            In Joann's case, the company was buoyed in the early days of the pandemic as the shutdown spurred some consumers to take up crafts and other projects. But during the past two years, Joann's sales have tumbled, with the company blaming consumer cutbacks due to inflation and other economic challenges.

                            Oh my God, my daughter will be devastated. That place is her idea of heaven.

                            LuFins DadL Offline
                            LuFins DadL Offline
                            LuFins Dad
                            wrote on last edited by
                            #194

                            @Doctor-Phibes said in Bidenomics At Work:

                            @George-K said in Bidenomics At Work:

                            https://www.cbsnews.com/news/joann-bankruptcy-filing-stores/?ftag=CNM-00-10aab7e&linkId=363930095

                            Fabric and crafts retailer Joann declared bankruptcy on Monday amid spending cutbacks from consumers and higher operating costs. The retail chain said it plans to keep its 800-plus stores open while it works through the restructuring process.

                            Hudson, Ohio-based Joann, which filed for Chapter 11 bankruptcy, reported between $1 billion and $10 billion in debt. In court documents filed Monday, the retailer blamed higher costs from shipping overseas products, as well as waning consumer demand.

                            As part of its bankruptcy, Joann said it has received about $132 million in new financing and expects to reduce its balance sheet's funded debt by about $505 million. The financing is "a significant step forward" to help Joann continue operating its stores, Scott Sekella, Joann's chief financial officer said in a statement.

                            The filing marks the latest in a series of major retailers that have filed for bankruptcy in recent years, including GNC, J.C. Penney and Party City. Brick-and-mortar retailers have struggled as Americans have increasingly shifted their spending to online rivals such as Amazon.com.

                            In Joann's case, the company was buoyed in the early days of the pandemic as the shutdown spurred some consumers to take up crafts and other projects. But during the past two years, Joann's sales have tumbled, with the company blaming consumer cutbacks due to inflation and other economic challenges.

                            Oh my God, my daughter will be devastated. That place is her idea of heaven.

                            It’s a restructuring… She’ll be fine. But really? What does she do? Apparel?

                            The Brad

                            Doctor PhibesD 1 Reply Last reply
                            • AxtremusA Offline
                              AxtremusA Offline
                              Axtremus
                              wrote on last edited by
                              #195

                              Sen. Joe Manchin on the American energy policy:

                              https://wapo.st/43jrOol

                              Joe Manchin: Our energy policy is a success. President Biden should be proud.

                              I want to congratulate President Biden for the record-breaking energy production we are seeing in America today. The United States is producing more oil, gas and renewable energy than ever before. We are exporting more fossil fuel energy than we import. Our country has never been more energy-independent than we are today.

                              .
                              This is something to celebrate. And it would not have been possible without the Inflation Reduction Act and the Bipartisan Infrastructure Law that Biden signed. Thanks to these two historic laws, we are unlocking major opportunities throughout the country, implementing an “all-of-the-above” energy strategy that we need today while continuing to innovate the technologies we want for tomorrow.
                              ...

                              1 Reply Last reply
                              • LuFins DadL LuFins Dad

                                @Doctor-Phibes said in Bidenomics At Work:

                                @George-K said in Bidenomics At Work:

                                https://www.cbsnews.com/news/joann-bankruptcy-filing-stores/?ftag=CNM-00-10aab7e&linkId=363930095

                                Fabric and crafts retailer Joann declared bankruptcy on Monday amid spending cutbacks from consumers and higher operating costs. The retail chain said it plans to keep its 800-plus stores open while it works through the restructuring process.

                                Hudson, Ohio-based Joann, which filed for Chapter 11 bankruptcy, reported between $1 billion and $10 billion in debt. In court documents filed Monday, the retailer blamed higher costs from shipping overseas products, as well as waning consumer demand.

                                As part of its bankruptcy, Joann said it has received about $132 million in new financing and expects to reduce its balance sheet's funded debt by about $505 million. The financing is "a significant step forward" to help Joann continue operating its stores, Scott Sekella, Joann's chief financial officer said in a statement.

                                The filing marks the latest in a series of major retailers that have filed for bankruptcy in recent years, including GNC, J.C. Penney and Party City. Brick-and-mortar retailers have struggled as Americans have increasingly shifted their spending to online rivals such as Amazon.com.

                                In Joann's case, the company was buoyed in the early days of the pandemic as the shutdown spurred some consumers to take up crafts and other projects. But during the past two years, Joann's sales have tumbled, with the company blaming consumer cutbacks due to inflation and other economic challenges.

                                Oh my God, my daughter will be devastated. That place is her idea of heaven.

                                It’s a restructuring… She’ll be fine. But really? What does she do? Apparel?

                                Doctor PhibesD Offline
                                Doctor PhibesD Offline
                                Doctor Phibes
                                wrote on last edited by Doctor Phibes
                                #196

                                @LuFins-Dad said in Bidenomics At Work:

                                Oh my God, my daughter will be devastated. That place is her idea of heaven.

                                It’s a restructuring… She’ll be fine. But really? What does she do? Apparel?

                                She makes cosplay outfits for herself and her friends, dresses for herself, random projects like hats. Some of them are really good. She made a couple of hundred bucks selling cuddly toy things she'd made at college on Valentine's Day. It's also a good mental-health activity. The problem, as with everything she does, is she's a perfectionist, and when things don't go quite right things can get quite fraught.

                                I was only joking

                                LuFins DadL 1 Reply Last reply
                                • Doctor PhibesD Doctor Phibes

                                  @LuFins-Dad said in Bidenomics At Work:

                                  Oh my God, my daughter will be devastated. That place is her idea of heaven.

                                  It’s a restructuring… She’ll be fine. But really? What does she do? Apparel?

                                  She makes cosplay outfits for herself and her friends, dresses for herself, random projects like hats. Some of them are really good. She made a couple of hundred bucks selling cuddly toy things she'd made at college on Valentine's Day. It's also a good mental-health activity. The problem, as with everything she does, is she's a perfectionist, and when things don't go quite right things can get quite fraught.

                                  LuFins DadL Offline
                                  LuFins DadL Offline
                                  LuFins Dad
                                  wrote on last edited by
                                  #197

                                  @Doctor-Phibes said in Bidenomics At Work:

                                  @LuFins-Dad said in Bidenomics At Work:

                                  Oh my God, my daughter will be devastated. That place is her idea of heaven.

                                  It’s a restructuring… She’ll be fine. But really? What does she do? Apparel?

                                  She makes cosplay outfits for herself and her friends, dresses for herself, random projects like hats. Some of them are really good. She made a couple of hundred bucks selling cuddly toy things she'd made at college on Valentine's Day. It's also a good mental-health activity. The problem, as with everything she does, is she's a perfectionist, and when things don't go quite right things can get quite fraught.

                                  That’s great!

                                  The Brad

                                  1 Reply Last reply
                                  • LuFins DadL LuFins Dad

                                    I get new brakes every 40k-50K (pads and rotors). Last set was November of 2022. $640. Getting a new set right now. $965.

                                    JollyJ Offline
                                    JollyJ Offline
                                    Jolly
                                    wrote on last edited by
                                    #198

                                    @LuFins-Dad said in Bidenomics At Work:

                                    I get new brakes every 40k-50K (pads and rotors). Last set was November of 2022. $640. Getting a new set right now. $965.

                                    Just saw this one. Car are getting more finicky, but pads&rotors for something like a 2018 Camry are less than 300 bucks (ceramic pads). It's the labor that has gotten ridiculous.

                                    Last week I had to have the fuel pump and sending unit put in my GMC. Like most stuff, they either dropped the tank or pulled the bed to replace the part. I also had a couple of wires with mouse damage, so they fixed that. Cost? $1000 with the tax.

                                    “Cry havoc and let slip the DOGE of war!”

                                    Those who cheered as J-6 American prisoners were locked in solitary for 18 months without trial, now suddenly fight tooth and nail for foreign terrorists’ "due process". — Buck Sexton

                                    1 Reply Last reply
                                    • RenaudaR Renauda referenced this topic on
                                    • AxtremusA Offline
                                      AxtremusA Offline
                                      Axtremus
                                      wrote on last edited by
                                      #199

                                      Another strong, very strong, job report for March 2024:

                                      https://www.cnn.com/2024/04/05/economy/us-jobs-report-march-final/index.html

                                      Employers added 303,000 jobs in March, the Bureau of Labor Statistics reported. The unemployment rate fell to 3.8% from 3.9% the month before.
                                      ...
                                      Annual wage gains slowed to 4.1% from 4.3%, a trajectory likely welcomed by the Federal Reserve in its efforts to tame inflation but yet a still-strong rate to help Americans recapture earnings that were decimated by the pandemic and high inflation.
                                      ...
                                      Last month’s job growth was driven by industries such as health care (+72,300 jobs); government (+71,000 jobs); leisure and hospitality (+49,000 jobs); and construction (+39,000 jobs).
                                      .
                                      The current US job market is also one of the strongest, historically: The economy has added jobs for 39 consecutive months, marking the fifth-longest period of job expansion on record, BLS data shows. The unemployment rate has been below 4% for 26 months in a row, the longest streak since the late 1960s.

                                      Chart from the Washington Post:
                                      Screenshot 2024-04-05 at 11.39.25 AM.png
                                      Source: https://www.washingtonpost.com/business/2024/04/05/jobs-march-unemployment-rate/

                                      JollyJ 1 Reply Last reply
                                      • HoraceH Offline
                                        HoraceH Offline
                                        Horace
                                        wrote on last edited by
                                        #200

                                        Job market is garbage according to boots on the ground here.

                                        Education is extremely important.

                                        1 Reply Last reply
                                        • George KG Offline
                                          George KG Offline
                                          George K
                                          wrote on last edited by
                                          #201

                                          image.jpeg

                                          "Now look here, you Baltic gas passer... " - Mik, 6/14/08

                                          The saying, "Lite is just one damn thing after another," is a gross understatement. The damn things overlap.

                                          1 Reply Last reply
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