What are the key issues of US Election 2024?

[USincognito]

Diesel

The graph I was responding to was for regular gas. Regular gas and consumers is what's being discussed.

as diesel was fairly cheap, always cheaper than gasoline.

That was true, untill Sept 2008, so I'm not sure how that relates to current gas prices or current inflation.

As a conspiracy theory,

Just stop please. You're embarrassing yourself.

 

[QvQ]

That was true, untill Sept 2008, so I'm not sure how that relates to current gas prices or current inflation.

Price of Oil, go check it out. Oil goes up, inflation goes up.
What caused the Carter Inflation? The Oil Embargo
Here is another conspiracy theory: The price of oil was $80+ a barrel. Was almost $100 a barrel for a while. Inflation raged. Biden released Iranian funds. The price of oil has been dropping and inflation cooled, Nice for an election year
However, the Red Sea has become unsafe for oil tankers so the price of oil is again $80+ and rising.
Expect inflation to spike in the next few months.
That is why "drill drill drill" and energy independence is a campaign issue. Maybe electric will work but then we may be trading the Mid East oil for China technology. (which China doesn't use btw. China is investing heavily in coal fired plants rather than "go green.")
Short lesson in history and political science..and what makes the world go round. Right now, it is oil

 

[KCfromNC]

It doesn't seem to matter what numbers or calculation a person uses

I guess it depends on whether or not that person is basing their view of reality on reality.

, it is Not 2% the government claims per year.
The inflation rate has never been 2% or less, Can't be with accumulated inflation over longer periods.
But obviously if even 4.4% is an average, the inflation rate has been some higher than 2% for some time in the past.

My post said nothing about inflation, just correcting some basic math errors about historical changes in home prices.

 

[USincognito]

Here is another conspiracy theory:

Thank you for letting me that you're not a serious interlocutor.

 

[QvQ]

Thank you for letting me that you're not a serious interlocutor.

And thank you for letting me know you do not have a sense of humor.
Everything true that a person does not want to be true is labeled a "conspiracy theory."
It is a joke. Get it? I am telling you the truth but since it challenges assumptions or reveals an inconvenient truth, it is a "conspiracy theory."

 

[SimplyMe]

Price of Oil, go check it out. Oil goes up, inflation goes up.
What caused the Carter Inflation? The Oil Embargo

I don't think anyone here is arguing that; other than the fact that once producers are able to raise prices, they rarely lower them when the price of oil goes back down. That is much of what we see today; the price of oil was raised in 2020-2021 because of a lack of production and prices that went up, using the cost of transport as an excuse, have never gone back down (despite economic conditions having now improved).

Here is another conspiracy theory: The price of oil was $80+ a barrel. Was almost $100 a barrel for a while. Inflation raged. Biden released Iranian funds. The price of oil has been dropping and inflation cooled, Nice for an election year

Interesting conspiracy theory but it has zero evidence in reality. In fact, as I mentioned, oil producers were slow to ramp up the production of oil once the pandemic ended, thus inflating oil prices. When they finally increased supply, oil prices went back down -- and that includes domestic oil producers who delayed restarting production and drilling for new oil. Again, there is plenty of evidence that this was explicitly done to increase oil profits, allowing the oil companies to "make up" the money they lost during the pandemic when demand for gasoline was low.

However, the Red Sea has become unsafe for oil tankers so the price of oil is again $80+ and rising.
Expect inflation to spike in the next few months.
That is why "drill drill drill" and energy independence is a campaign issue. Maybe electric will work but then we may be trading the Mid East oil for China technology. (which China doesn't use btw. China is investing heavily in coal fired plants rather than "go green.")
Short lesson in history and political science..and what makes the world go round. Right now, it is oil

Except the US is "energy independent" and has been for the last 80 weeks, by contrast, Trump only had 44 weeks of "energy independence" during his administration. Yes, when oil producers (in particularly US producers) did not increase oil supplied, coming out of the pandemic, we lost our "independence". The loss of oil production occurred under Trump. It took roughly a year before domestic producers started producing oil again and we have been "independent" since March, 2022.

I put "independence" in quotes because we still import oil, the independence refers to the fact (both under Trump and Biden) that we export more oil than we import. The reason for exporting US oil and importing foreign oil is because much of the oil produced in the US is "heavy crude," which US refineries are typically not set up to refine, instead they are set up to refine sweet (also known as light) crude oil. So, the US imports the sweet (low sulfur), light crude oil and we export the heavy crude.

 

[hislegacy]

I JUST saw where he ( Trump) granted just under a year out is projected to maybe likely win and not just the primary.

We can only hope it holds

So what are the key issues the candidates are facing?

1. 40 year high inflation that is causing great harm to the middle class and poor
2. A porous Southern border that is causing Governors (Republican and Democratic) to sue the current administration.
3. A weakened International Standing
4. An unbalanced DOJ
5. A fractured Congress

 

[QvQ]

sing the cost of transport as an excuse

It is not an excuse. And it isn't just transportation.

I can agree with your analysis in part and disagree in part.
However, Brent Crude is again at $80 and rising. The Red Sea may not affect the prices too much. Remains to be seen.
The fact is, that if a spike in the price of foreign oil results in a spike in inflation, then the US is not energy independent.

 

[SimplyMe]

It is not an excuse. And it isn't just transportation.

I can agree with your analysis in part and disagree in part.
However, Brent Crude is again at $80 and rising. The Red Sea may not affect the prices too much. Remains to be seen.
The fact is, that if a spike in the price of foreign oil results in a spike in inflation, then the US is not energy independent.

Then we were never energy independent under Trump, either, but that logic. Again, that is why I put energy independent in quotes, as even with Trump in office we will continue to import oil -- just that we will export more than we import. No president is going to make the US energy independent in the way that you are wanting.

 

[QvQ]

Again, that is why I put energy independent in quotes, as even with Trump in office we will continue to import oil -- just that we will export more than we import. No president is going to make the US energy independent in the way that you are wanting.

I think the "go green" and electric is more about the fact that oil is a limited natural resource. The world is going to run out eventually and that may not mean thousands of years from now.
The solar / wind technology is frustrating. I have solar and it is not "on demand" but people can adapt.

 

[Brihaha]

We can only hope it holds

1. 40 year high inflation that is causing great harm to the middle class and poor
2. A porous Southern border that is causing Governors (Republican and Democratic) to sue the current administration.
3. A weakened International Standing
4. An unbalanced DOJ
5. A fractured Congress

Interesting how Mr Trump exacerbated all five problems on your list. Careful what you wish for...

 

[hislegacy]

Interesting how Mr Trump exacerbated all five problems on your list. Careful what you wish for...

No - that would be factually inaccurate.

 

[Brihaha]

No - that would be factually inaccurate.

Not nearly as inaccurate as your midterm predictions lol.

 

[hislegacy]

Not nearly as inaccurate as your midterm predictions lol.

Ah, the ever effective “nanny nanny boo boo” style response. IMHO it is Like waving a flag of surrender.

 

[Brihaha]

Ah, the ever effective “nanny nanny boo boo” style response. IMHO it is Like waving a flag of surrender.

No, waving the flag of surrender is not adjusting your perceptions to conform with reality.

 

[QvQ]

The major hurdle here is an ideological one and a matter of exchanging greed for generosity.

Joe Biden is buying his way to heaven by opening the border and tossing dollars around like paper confetti.

 

[Tuur]

What caused the Carter Inflation? The Oil Embargo

Wait a minute. I was passing by and happened to see this. Carter inherited inflation from Ford, who inherited it from Nixon. I don't remember the state of inflation prior to Nixon, but do remember Nixon tried price controls to curb inflation, and those failed. That was prior to the Arab Oil Embargo.

Looked it up to be sure. The price controls were in 1971. The Arab Oil Embargo started in 1973.

Hmm...just remembered when I noticed the price of a soft drink and a pack of crackers going up, and that was when LBJ was president. That's not enough to say inflation existed then, but is interesting.

Can't remember when the Ad Council released a series of "Don't be Piggy" or "Don't be a Pig" ads encouraging people to shop around for lower prices in hopes of preventing inflation. That worked about as well as Nixon's price controls. The ads were at least marginally better than the "Feed the Pig" ads decades later trying to get people to save money.

Ford had Whip Inflation Now buttons. That did about as much good as price controls and ads, though at least you got a button as a souvenir.

Whether the statement was right or wrong, I clearly remember inflation then attributed to spending in the Vietnam War, specifically the classic example of printing more money. Print more money to cover debts; inflation goes up.

Will only point out the Weirmar Republic didn't have an Arab Oil Embargo, and their inflation went through the roof.

 

[QvQ]

Whether the statement was right or wrong, I clearly remember inflation then attributed to spending in the Vietnam War, specifically the classic example of printing more money. Print more money to cover debts; inflation goes up.

Will only point out the Weirmar Republic didn't have an Arab Oil Embargo, and their inflation went through the roof.

Inflation is caused by several factors.
1) Increase in money supply is one. However, if wages and recently, government entitlements keep pace until the money supply is adjusted then it is simply a matter of money manipulation. That may be the inflation we are dealing with now.
2) The second factor is supply and demand. That is the serious cause. It is not money manipulation. The price of oil causes serious inflation because everything, absolutely every single thing you have, is transported by truck and that is diesel.

There is Always inflation and it is higher than the government admits. The inflation since 1990 was shown to be 250%. However the worst inflation was in 2008 and that was oil.

inflation in 1933 was minus -5.8%. That is Deflation,

 

[DaisyDay]

Whether the statement was right or wrong, I clearly remember inflation then attributed to spending in the Vietnam War, specifically the classic example of printing more money. Print more money to cover debts; inflation goes up.

Remember the slogan, "Guns and butter!"?

 

[Tuur]

Remember the slogan, "Guns and butter!"?

Honestly, I remember "Guns or butter" and an anti-war ad with politicians fighting personally (had I known about Burr and Hamilton, it wouldn't have as much of an impression). I don't remember "Guns and butter." Not dismissing it, only I don't remember it.

As a tangent, I do remember the dollar going off the gold standard and a political cartoon with a dollar leaping into a partially filled pool with a then well known politician (who I can't recall at the moment) saying "Let's see if it floats." It's a tangent memory, because there was already inflation when the US moved to fiat currency.