Inflation/stagflation Thread

Finance
1450

UK - Definitely encouraging more supply to help with their double digit inflation. Hiking their current 25% windfall tax to 35% starting in a year.

  • UK EXTENDS WINDFALL TAX ON OIL, GAS COMPANIES TO 35% TILL 2028

Sounding pretty permanent to me.

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1451

The climate cultists are insane

https://www.msn.com/en-gb/money/other/fracking-firms-plan-c2-a31bn-legal-fight-over-shale-gas-extraction-ban/ar-AA13O7rp

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1452

Bullard’s speech on Fed rates…

https://www.bloomberg.com/news/articles/2022-11-17/fed-s-bullard-says-more-hikes-needed-to-get-to-restrictive-level

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1453

Coincidence? A few days after legal immunity from Biden for MBS, we get much lower oil prices on the news of increased Saudi production.

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1454

Did anyone dare to suggest that it’s a coincidence? :rofl:

1455

Absolutely a co-inkeydink. The BCF is, despite the name and accusations, and evidence to the contrary, completely crime free. There are no corvette theft, drug, kickback, influence peddling issues of any kind.

The legend of Biden’s spine is not changed, but rather reinforced by this coincidence.

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1456

Solution to high prices is high prices…or more sex :wink:

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1457

Cock-a-doodle-do!!

1458

Food and supply chain volatility

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1459

JPow comments today:

FED’S POWELL: MAKES SENSE TO MODERATE PACE OF INTEREST RATE HIKES
FED’S POWELL: TIME TO MODERATE PACE OF RATE HIKES MAY COME AS SOON AS DECEMBER MEETING
FED’S POWELL: HAVE MADE SUBSTANTIAL PROGRESS TOWARD ‘SUFFICIENTLY RESTRICTIVE’ POLICY, HAVE MORE GROUND TO COVER
FED’S POWELL: ‘IT SEEMS TO ME LIKELY’ RATES MUST ULTIMATELY GO ‘SOMEWHAT HIGHER’ THAN POLICYMAKERS THOUGHT IN SEPTEMBER
FED’S POWELL: LIKELY TO NEED TO HOLD POLICY AT RESTRICTIVE LEVEL ‘FOR SOME TIME’
FED’S POWELL: HISTORY CAUTIONS STRONGLY AGAINST PREMATURELY LOOSENING POLICY
FED’S POWELL: WE HAVE A LONG WAY TO GO IN RESTORING PRICE STABILITY
FED’S POWELL: WE WILL STAY THE COURSE UNTIL THE JOB IS DONE
FED’S POWELL: OCTOBER INFLATION DATA WAS ‘WELCOME SURPRISE,’ WILL TAKE ‘SUBSTANTIALLY MORE EVIDENCE’ TO GIVE COMFORT INFLATION IS ACTUALLY DECLINING
FED’S POWELL: PATH AHEAD FOR INFLATION ‘HIGHLY UNCERTAIN’
FED’S POWELL: GROWTH IN ECONOMIC ACTIVITY HAS SLOWED TO WELL BELOW LONGER-RUN TREND, AND THIS NEEDS TO BE SUSTAINED
FED’S POWELL: FAR TOO EARLY TO DECLARE GOODS INFLATION VANQUISHED, BUT IF TREND CONTINUES, GOODS PRICES SHOULD BEGIN TO EXERT DOWNWARD PRESSURE ON OVERALL INFLATION IN COMING MONTHS
FED’S POWELL: EXPECT HOUSING SERVICES INFLATION TO BEGIN FALLING SOMETIME NEXT YEAR, IF LEASE TRENDS CONTINUE
FED’S POWELL: HAVE SO FAR SEEN ONLY ‘TENTATIVE’ SIGNS OF MODERATION IN LABOR DEMAND, WAGE GROWTH
FED’S POWELL: MODERATION IN LABOR DEMAND GROWTH WILL BE REQUIRED TO RESTORE LABOR MARKET BALANCE
FED’S POWELL: PRICE STABILITY IS FED’S RESPONSIBILITY, BEDROCK OF ECONOMY

4 Likes
1460

I’m shocked, shocked, fo find moderation going on here … here are your invitations to dinner parties and island getaways.

If you don’t get it, check out the closure of Rick’s in Casablanca.

1461

Record levels of retail crime leading to additional retail price inflation.

3 Likes
1462

I think the biggest shrink/shoplifting in retail is self checkout.

I was at Sams a few weeks ago, and the receipt checker at the door caught 2 people (out of the 4 in front of us) that had items in their cart that they did not pay for through self checkout.

Stores are making it way to easy to shoplift and people are realizing it. And what’s the punishment if you get caught? They either have to pay for it, or put it back. Wow. At my case at Sams, both people said to just put it back, and they left.

5 Likes
1463

Better check your shelf before you wreck your shelf. :wink:

In case of Sams, which requires membership, I would expect them to start logging, then banning repeat offenders.

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1464

Windfall confiscation, the UK edition. 75% of profits proposed for their oil sector. Maybe those guys should just leave.

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1465

From the article. Edit EPL = Energy profits levy. The new increased tax

Mitch Flegg, CEO of Serica Energy also called on the government to set a price floor for the EPL, without which the basin could see a drop in investments.

“We are now considering opportunities in other countries alongside those in the UK,” Flegg said.

1 Like
1466

The California Democrats are of course piling on to the windfall profits tax bandwagon. I am sure this will end well /sarcasm

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1467

this is what passes for energy advice?

  • WHITE HOUSE ENERGY ADVISER HOCHSTEIN: PROFITS FROM OIL COMPANIES MUST BE REINVESTED IN THE US.
  • WHITE HOUSE ENERGY ADVISER HOCHSTEIN: I EXPECT AN INCREASE IN OIL PRODUCTION IN THE FIRST AND SECOND QUARTERS OF 2023.
  • WHITE HOUSE ENERGY ADVISER HOCHSTEIN: THE US IS GOING TO BE REPLENISHING SPR.

i guess it could be worse

  • HUNGARY INCREASES THE WINDFALL TAX ON OIL COMPANIES TO 95% - GAZETTE.
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1468

Is that a euphamism for the Democrat Party, or the Big Guy?

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1469
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