US Oil Producers Fail to Produce

[Parkbandit]

At a cost of 6 dollars per month, the welfare system is not crippling our economy.

What's crippling our economy is pretending that we have capitalism and bailing out banks every time the downside of capitalism kicks in.

What's crippling our economy is an interest rate under 1% when inflation is at 8.5%. It's not like those damn poor people have a say in interest rate adjustments.

Propping up your home value with low interest rates is what's causing these problems. (home loans should be at 12.5 -15.5% right now)

I get you have no idea, but you can't get a mortgage with a 1% interest right now, nor have you ever been able to. It's currently between 4.5-6% with decent credit.

And yes.. let's boost those mortgage rates up to 15%... we haven't seen those rates since Jimmy Carter.

Yes... let's make it even more prohibitively expensive for people to buy homes.. that will fix inflation!

[~Rocktar~]

At a cost of 6 dollars per month, the welfare system is not crippling our economy.

What's crippling our economy is pretending that we have capitalism and bailing out banks every time the downside of capitalism kicks in.

What's crippling our economy is an interest rate under 1% when inflation is at 8.5%. It's not like those damn poor people have a say in interest rate adjustments.

Propping up your home value with low interest rates is what's causing these problems. (home loans should be at 12.5 -15.5% right now)

Entitlements are 3/5ths of the Federal Budget dumbass. That is far more than 6 dollars a month.

According to Justfacts.com the current debt is about $91,406 per person.

Now, before you go off on a whine about "But wars and military spending and WHAAAHHHHHHH!" The Defense budget is about 1/6th of the Federal Budget.

Both of those numbers have remained pretty constant over the years so of that $91406 only $15234 is for defense spending. If that is all we had and we didn't have the entitlements (not things that are real responsibilities of government but added because of the feels, we would be in great shape financially. All those numbers are just on current debt, when you add in the unfunded mandates for entitlement spending, the debt per person goes to something around $507376 so please, fuck off with your $6 a month bullshit.

https://www.usdebtclock.org

BTW, the banks paid back the bailouts in around a year so that money came back tot he government. Even GM paid back the debt finally. Know who didn't get paid, all the material debtors that GM owed money to and that Obama's justice department violated bankruptcy laws in order to screw over while paying off the auto union. All the poor people that got screwed by cash for clunkers handouts.

Learn some real economics, this post is almost as bad as Seran and time4hydranencephaly.

I get you have no idea, but you can't get a mortgage with a 1% interest right now, nor have you ever been able to. It's currently between 4.5-6% with decent credit.

And yes.. let's boost those mortgage rates up to 15%... we haven't seen those rates since Jimmy Carter.

Yes... let's make it even more prohibitively expensive for people to buy homes.. that will fix inflation!

Glad I got my re-fi done at 3%. In another 12 months, my mortgage payment will look like a grocery bill today in comparison.

[Neveragain]

Entitlements are 3/5ths of the Federal Budget

The average taxpayer contributed just $80 in 2017 to Temporary Assistance for Needy Families, better known as welfare.Mar 28, 2018

BTW, the banks paid back the bailouts in around a year so that money came back tot he government.

Do you know how banks were able to pay that back?

They were given billions of US taxpayer dollars, at a near 0% interest rate and turned that money over at 5-6%.

Glad I got my re-fi done at 3%. In another 12 months, my mortgage payment will look like a grocery bill today in comparison.

With a 200,000 mortgage, you are costing the taxpayer $20,000 annually.

Tell me you are OK with welfare without telling me you're OK with welfare.

[Neveragain]

I get you have no idea, but you can't get a mortgage with a 1% interest right now, nor have you ever been able to. It's currently between 4.5-6% with decent credit.

And yes.. let's boost those mortgage rates up to 15%... we haven't seen those rates since Jimmy Carter.

Yes... let's make it even more prohibitively expensive for people to buy homes.. that will fix inflation!

You're dumber than I ever thought.

P.S. Home loans were still at 14% at the end of Reagans first term.

[drumpel]

Entitlements are 3/5ths of the Federal Budget dumbass. That is far more than 6 dollars a month.


Glad I got my re-fi done at 3%. In another 12 months, my mortgage payment will look like a grocery bill today in comparison.

The wife and I got our mortgage at 3% on our new house we moved into November 1st last year. I hear the rates are closing in on 6% right now. We put down 20% and with what we borrowed at 3%, if it was 6% that would be almost an extra $600 a month we'd have to be paying....that's just fucking crazy.

So glad we got in when we did.

[Parkbandit]

I said this:

And yes.. let's boost those mortgage rates up to 15%... we haven't seen those rates since Jimmy Carter.

And you said this:

You're dumber than I ever thought.

P.S. Home loans were still at 14% at the end of Reagans first term.

Granted, you think of 15 and 14 as the same number because they are over 10 and you only have 10 fingers.. but they are not the same number.

Also, do you believe the President sets the mortgage rate? Like you know that it took Reagan a few years to turn the economy around which in turn drives down mortgage rates. He didn't just come into office and drop it from 15% to 10% the day he was inaugurated. He had to put policies in place to fix the damage Carter did to the economy.

[Parkbandit]

The wife and I got our mortgage at 3% on our new house we moved into November 1st last year. I hear the rates are closing in on 6% right now. We put down 20% and with what we borrowed at 3%, if it was 6% that would be almost an extra $600 a month we'd have to be paying....that's just fucking crazy.

So glad we got in when we did.

Yea, we won't see 3% mortgage rates again probably. Grats on locking that up.

[Parkbandit]

With a 200,000 mortgage, you are costing the taxpayer $20,000 annually.

Tell me you are OK with welfare without telling me you're OK with welfare.

I would ask you for the math on this... but we both know you aren't good at it.

But just tell us how Rocktar's 200K mortgage is costing the taxpayers 20K annually. Be specific please.

You should stick to making "drama" threads like this: http://forum.gsplayers.com/showthrea...ama-you-got-it

instead of diving into stuff you know absolutely nothing about, like economics, politics and being successful.

[Seran]

With mortgage rates spiking once in a generation rates, and housing prices causing huge property tax increases nationwide Democrats are going to have a heyday pointing out how Trump's tax plan hurt everyday Americans. State and Local Tax deduction caps means your combination of property tax and local income taxes are meaningless after $10,000. Before Trump's corporate welfare tax plan, the combination of SALT and mortgage interest deductions, combined with the personal exemption saw a lot more Americans getting refunds back. In the guide of 'simplifying tax filings' and doubling the standard deduction, eliminating the personal exemption, SALT deductions etc., Trump just made it so a married, childless couple would help finance his corporate and capital gains tax breaks. Great job GOP!

[Seran]

As much as the United States may think that a worldwide embargo on Russian oil would be ideal, the reality that so much being pumped into China and India at a huge discount will have a significant downward impact on worldwide prices. Simply put, the Russian oil has to go somewhere and Ukraine has already been successful in protecting the majority of it's country, while the ungovernable areas they could take back between 2014-2021 will stay just where they are: in someone else's control.

India’s Reliance Snaps Up 15 Million Barrels Of Cheap Russian Oil

Indian private conglomerate Reliance Industries has purchased at least 15 million barrels of discounted Russian crude since the start of the Russian invasion of Ukraine, Reuters reported on Friday, citing trade sources and tanker data, as Indian refiners take advantage of record discounts for Russia’s crude shunned in the West.


Reliance Industries—which owns the biggest refinery in India and the biggest refining hub in the world, Jamnagar—has bought on average 5 million barrels of Russian crude for delivery in each month between April and June, according to Reuters’ sources.


Reliance Industries is buying Urals—whose primary destination before the war was Europe—and is set to receive its first shipment of the ESPO crude, which is typically delivered to China, per Refinitiv tanker data cited by Reuters.


Since the beginning of the Russian war in Ukraine, India—a price-sensitive crude buyer who has criticized OPEC and OPEC+ for keeping oil prices “artificially high”—has increased its purchases of Russian crude. Before the war, Indian refiners rarely bought oil from Russia at such a scale because of high freight costs. Now the cheaper Russian barrels—with the flagship Urals grade being offered at a massive $30 a barrel discount to Dated Brent—appear irresistible for Indian refiners, despite warnings from the United States that buying Putin’s oil is not in the best interest of India.

https://oilprice.com/Latest-Energy-N...ssian-Oil.html