As Trump impeachment trial starts, the Biden Democrat agenda crashes into reality

[Andy Asaro]

Union anger over job losses, inflation worries, likely acquittal undercut new president's clout.

https://justthenews.com/government/w...ign=newsletter

Excerpt:

Richard Trumka, the head of the AFL-CIO that spent millions to get Biden elected, excoriated the new president's climate policies this past weekend for erasing thousands of well-paying union jobs with the shutdown of the Keystone pipeline from Canada.

Gas prices, which hit the working class hard, are showing signs of creeping up.

The non-partisan Congressional Budget Office warned Monday that the Democrats' plan to impose the $15-an-hour minimum wage would cost 1.4 million jobs, adding to an already uncomfortably high unemployment level.

A new poll by Just the News added to the red flags Monday, showing a solid majority of Americans believed raising the minimum wage would be a job killer.

Twenty days into his presidency, Biden's purported hopes for a bipartisan COVID stimulus bill foundered for lack of Republican buy-in. And now even some Democrats, like former Treasury Secretary Larry Summers, are questioning whether the current $1.9 trillion price tag is too much.

Current Treasury Secretary Janet Yellen also warned that inflation may soon rear its ugly head with all of the government's deficit spending, saying it was a "risk" of the Biden stimulus plan.

Meanwhile, talk of rapidly vaccinating Americans slammed into the reality of supply shortages and highly disorganized local health care systems, as well as fears that new variants of the coronavirus are poised to create long-term challenges.

[woodtoo]

Someone should tell the senate there is no need to impeach the former President to remove him from office.

I mean seriously folk,s like c'mon man he's already gone!

You dont have Donald to kick around anymore, time to build back better with Joes vision for the future like shutting down the energy industry and fill the country with untested covid infected illegal immigrants and make new orders demanding all criminal felon illegals to remain in America forever and pay for abortions worldwide. Joe will lead America to new all time lows you could never imagine yourselves.
And all the while blaming Donald Trump for everything and more.

Time to pull up your bootstraps America and Build Back Better. And he can guarantee you war within 6 months.

[dlivery]

War can mean lots of spending in what areas
Technology should get peoples mind back on business smarts.
Biden is a follower with mouth open.
I'm hoping one day we are all great again.

[46zilzal]

Just as long as the orange one cannot never run for public office.

[jimmyb]

On November 2nd gasoline was under 2 bucks a gallon. It is now $2.50 a gallon. Home heating oil up about the same. Thanks a lot Joe.

[woodtoo]

Originally Posted by 46zilzal

Just as long as the orange one cannot never run for public office.

Don't you worry Donald will never not run for office again.

[alydar]

Like Joe has anything to do with the price of oil!
Come on! you know better or at least should.
Economic trends have little to do with who is in office.

[woodtoo]

Since Judge Roberts refuses to believe the trial is constitutional and will not preside Senator Leahy will be judge and jury.

The bipartisanship is mind-boggling.

[woodtoo]

Originally Posted by alydar

Like Joe has anything to do with the price of oil!
Come on! you know better or at least should.
Economic trends have little to do with who is in office.

Joe killing the energy industry in America has nothing to do with the price of oil. Joe is just trending downward like oil prices are trending upward, no coincidence at all.

[alydar]

Originally Posted by Andy Asaro

Union anger over job losses, inflation worries, likely acquittal undercut new president's clout.

https://justthenews.com/government/w...ign=newsletter

Excerpt:

Richard Trumka, the head of the AFL-CIO that spent millions to get Biden elected, excoriated the new president's climate policies this past weekend for erasing thousands of well-paying union jobs with the shutdown of the Keystone pipeline from Canada.

Gas prices, which hit the working class hard, are showing signs of creeping up.

The non-partisan Congressional Budget Office warned Monday that the Democrats' plan to impose the $15-an-hour minimum wage would cost 1.4 million jobs, adding to an already uncomfortably high unemployment level.

A new poll by Just the News added to the red flags Monday, showing a solid majority of Americans believed raising the minimum wage would be a job killer.

Twenty days into his presidency, Biden's purported hopes for a bipartisan COVID stimulus bill foundered for lack of Republican buy-in. And now even some Democrats, like former Treasury Secretary Larry Summers, are questioning whether the current $1.9 trillion price tag is too much.

Current Treasury Secretary Janet Yellen also warned that inflation may soon rear its ugly head with all of the government's deficit spending, saying it was a "risk" of the Biden stimulus plan.

Meanwhile, talk of rapidly vaccinating Americans slammed into the reality of supply shortages and highly disorganized local health care systems, as well as fears that new variants of the coronavirus are poised to create long-term challenges.

All comments above have a grain of truth to them, but of course do not tell the whole story. But what the hell this is a political commentary site so go for it.

Trumpka was critical of the pipeline stoppage, but still sees Biden as pro labor, and an ally in the future.

1.9 trillion is a ton of money, but it is not hard to find people all of the map, in terms of what it means for inflation or the deficit. But again this is nothing new. The last 10 years have seen the deficit balloon by 9 trillion. No one, it appears cares about deficit spending.

So far inflation has not been a problem, we will see. I would have thought it would be an issue by now.

The vaccine roll out is going about as well can be expected. It is a huge logistical challenge. We will see how this all unfolds. Biden has been in office for two weeks, I think giving him a little bit of time before declaring his term a failure would be appropriate.

But what the hell! Go ahead and pile on! That is what seems to be the norm on this site, regardless of what perspective you have.

[jimmyb]

Originally Posted by alydar

Like Joe has anything to do with the price of oil!
Come on! you know better or at least should.
Economic trends have little to do with who is in office.

In a recent note from Goldman Sachs, commodities analysts noted that Biden’s initial executive orders – which included restrictions on hydrocarbon leasing in North America, drilling, and pipelines – support oil prices


On top of that, the administration’s comments “suggest no urgency in lifting sanctions with Iran,” keeping that country’s supply out of the market, keeping oil prices from falling.


The Trump administration's efforts to drill on federal land have been walked back, with the Department of the Interior imposing a 60-day moratorium on the sale of oil and gas leases on federal land. Goldman notes that this order is temporary but supportive of Biden's stated policies of halting the drilling on government-owned land. A more long-lasting moratorium could follow.


“As we argued ahead of the election, such actions point to both higher production and financing costs for shale producers in coming years as well as lower recoverable resources,” Goldman analysts wrote.


All in all, Biden’s policies support energy demand while restricting production or the forces that govern production, like financing and drilling, analysts wrote.


According to Goldman, this “will prove inflationary in coming years given the still negligible share of transportation demand coming from EVs (and renewables).”


https://finance.yahoo.com/news/biden...170738261.html

[alydar]

Originally Posted by jimmyb

In a recent note from Goldman Sachs, commodities analysts noted that Biden’s initial executive orders – which included restrictions on hydrocarbon leasing in North America, drilling, and pipelines – support oil prices


On top of that, the administration’s comments “suggest no urgency in lifting sanctions with Iran,” keeping that country’s supply out of the market, keeping oil prices from falling.


The Trump administration's efforts to drill on federal land have been walked back, with the Department of the Interior imposing a 60-day moratorium on the sale of oil and gas leases on federal land. Goldman notes that this order is temporary but supportive of Biden's stated policies of halting the drilling on government-owned land. A more long-lasting moratorium could follow.


“As we argued ahead of the election, such actions point to both higher production and financing costs for shale producers in coming years as well as lower recoverable resources,” Goldman analysts wrote.


All in all, Biden’s policies support energy demand while restricting production or the forces that govern production, like financing and drilling, analysts wrote.




According to Goldman, this “will prove inflationary in coming years given the still negligible share of transportation demand coming from EVs (and renewables).”


https://finance.yahoo.com/news/biden...170738261.html

All good points. It is still very early. Let's see what international demand and supply forces do in the next year. If the worldwide economy starts to improve demand will obviously increase, but there is a ton of untapped production out there and a lot of people that need to sell oil. I do not envision $100 oil anytime soon.

[xtb]

Originally Posted by Zilly

Just as long as the orange one cannot never run for public office.

Originally Posted by woodtoo

Don't you worry Donald will never not run for office again.

He's just messing with us.

[FakeNameChanged]

Originally Posted by 46zilzal

Just as long as the orange one cannot never run for public office.

Putting on your handicapping hat, do you think there's even a remote possibility of the Senate voting 67-23 that this will happen?

[Marshall Bennett]

Originally Posted by 46zilzal

Just as long as the orange one cannot never run for public office.

Oh he'll be there...in some form or another. Amazing how your twisted bunch is so afraid of him.
In an unrelated shit-heap, a thousand illegals have been released to the public...all untested for covid-19 and all criminals. How lovely!!