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Oerdin: I think it was a wise choice. He is the first president not to play political games with the reserve. By not releasing the reserves, he allowed market actors to benefit from their good planning that made them able to serve the market at a high price point. Over time, rewarding this good planning will decrease volatility and lower prices.
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I came upon a barroom full of bad Salon pictures in which men with hats on the backs of their heads were wolfing food from a counter. It was the institution of the "free lunch" I had struck. You paid for a drink and got as much as you wanted to eat. For something less than a rupee a day a man can feed himself sumptuously in San Francisco, even though he be a bankrupt. Remember this if ever you are stranded in these parts. ~ Rudyard Kipling, 1891 -
The president does have a lot of power, just not as much as some people think.
Take Carter for example. In 79 he told us that inflation was our responsibility, giving people the impression that the govt wouldn't do anything about it. People started selling dollars like crazy. The Fed had to cut the money supply drastically and it resulted in the the deepest recession since the Depression.
The president has a lot of power over peoples expectations.I drank beer. I like beer. I still like beer. ... Do you like beer Senator?
- Justice Brett KavanaughComment
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I hate Bush as much as the next guy, but this isn't Bush's fault and its not a very worrying sort of inflation. Its just a short-term spike in energy prices (which have since dropped) hitting producers. And as the original article said there's very little core inflation, just some spikes in volatile commodities...Stop Quoting BenComment
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I fully agree, and I regret that no politician will ever acknowledge that.Originally posted by DanS
The US president is either the whipping boy or the golden boy of the country. He's praised or blamed for the state of the economy, but he has little control over it.
*Puisque ces mystères nous dépassent, feignons d'en être les organisateurs*Statistical anomaly.
The only thing necessary for the triumph of evil is for good men to do nothing.Comment
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Those reserves are actually kind of silly. There's no way they can have any effect on prices. The more they dump the more OPEC will cut back.Originally posted by Oerdin
Remember how you were bragging about Bush not tapping the strategic Petroleum reserve? I'd say timely additions of reserved crud to the market would help smooth out spikes in oil prices and that would help lower the rate of inflation on energy prices.I drank beer. I like beer. I still like beer. ... Do you like beer Senator?
- Justice Brett KavanaughComment
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Ummm, all of those things are the purview of the congress, not the president. You would do well to remember the words "dead on arrival."He has an aweful lot of control over the long term health of the economy. Running deficits, raising or lower taxes, regulating just about every type of economic activity imaginable, deciding on unemployment benifits, subsidies & trade barriers, etc...I came upon a barroom full of bad Salon pictures in which men with hats on the backs of their heads were wolfing food from a counter. It was the institution of the "free lunch" I had struck. You paid for a drink and got as much as you wanted to eat. For something less than a rupee a day a man can feed himself sumptuously in San Francisco, even though he be a bankrupt. Remember this if ever you are stranded in these parts. ~ Rudyard Kipling, 1891Comment
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Question: Did Bush have no choice other than to run an all time high, record smashing deficit? And to launch two wars, and to lower taxes all the while? Or was all this out of his hands too?Comment
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It seems that the mere existence of the reserves has an effect on the speculation which permanently observes their variations, and consequently on the price.Originally posted by Kidicious
Those reserves are actually kind of silly. There's no way they can have any effect on prices. The more they dump the more OPEC will cut back.Statistical anomaly.
The only thing necessary for the triumph of evil is for good men to do nothing.Comment
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Here's a good way to edit that question: Did the congress have no choice other than to run all time high, record smashing deficits at the suggestion of the president? And to give Bush the overwhelming authority and funding to launch two wars, and to lower taxes all the while?I came upon a barroom full of bad Salon pictures in which men with hats on the backs of their heads were wolfing food from a counter. It was the institution of the "free lunch" I had struck. You paid for a drink and got as much as you wanted to eat. For something less than a rupee a day a man can feed himself sumptuously in San Francisco, even though he be a bankrupt. Remember this if ever you are stranded in these parts. ~ Rudyard Kipling, 1891Comment
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The strategic reserves should have no impact on the price of oil in normal trading. The stocks are there for an emergency, not a rainy day.I came upon a barroom full of bad Salon pictures in which men with hats on the backs of their heads were wolfing food from a counter. It was the institution of the "free lunch" I had struck. You paid for a drink and got as much as you wanted to eat. For something less than a rupee a day a man can feed himself sumptuously in San Francisco, even though he be a bankrupt. Remember this if ever you are stranded in these parts. ~ Rudyard Kipling, 1891Comment
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Are you joking? The reserves are never used. Why would anyone speculate?Originally posted by DAVOUT
It seems that the mere existence of the reserves has an effect on the speculation which permanently observes their variations, and consequently on the price.I drank beer. I like beer. I still like beer. ... Do you like beer Senator?
- Justice Brett KavanaughComment
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Originally posted by DanS
The strategic reserves should have no impact on the price of oil in normal trading. The stocks are there for an emergency, not a rainy day.
More like subsidies.I drank beer. I like beer. I still like beer. ... Do you like beer Senator?
- Justice Brett KavanaughComment
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Because truly the President, the most visible political figure by far in U.S. politics, promising to use authority wisely* and invested with a great deal of popular support from 9/11 has little or no influence on Congress.Originally posted by DanS
Here's a good way to edit that question: Did the congress have no choice other than to run all time high, record smashing deficits at the suggestion of the president? And to give Bush the overwhelming authority and funding to launch two wars, and to lower taxes all the while?
Right....
Well, do you at least agree that what Bush is pushing for is bad for the economy, or are you going to deny that too?
-Drachasor
*Which he didn't do"If there's a child on the south side of Chicago who can't read, that matters to me, even if it's not my child. If there's a senior citizen somewhere who can't pay for her prescription and has to choose between medicine and the rent, that makes my life poorer, even if it's not my grandmother. If there's an Arab American family being rounded up without benefit of an attorney or due process, that threatens my civil liberties. It's that fundamental belief -- I am my brother's keeper, I am my sister's keeper -- that makes this country work." - Barack ObamaComment
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Right, because using them to help keep oil prices from getting to high and damaging the economy when there is no war in sight is a horrible thing.Originally posted by DanS
The strategic reserves should have no impact on the price of oil in normal trading. The stocks are there for an emergency, not a rainy day.
Clinton was just being pragmatic.
-Drachasor"If there's a child on the south side of Chicago who can't read, that matters to me, even if it's not my child. If there's a senior citizen somewhere who can't pay for her prescription and has to choose between medicine and the rent, that makes my life poorer, even if it's not my grandmother. If there's an Arab American family being rounded up without benefit of an attorney or due process, that threatens my civil liberties. It's that fundamental belief -- I am my brother's keeper, I am my sister's keeper -- that makes this country work." - Barack ObamaComment
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What is your argument here, Drachasor? You haven't stated it so far.I came upon a barroom full of bad Salon pictures in which men with hats on the backs of their heads were wolfing food from a counter. It was the institution of the "free lunch" I had struck. You paid for a drink and got as much as you wanted to eat. For something less than a rupee a day a man can feed himself sumptuously in San Francisco, even though he be a bankrupt. Remember this if ever you are stranded in these parts. ~ Rudyard Kipling, 1891Comment
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