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HonestChieffan
01-31-2012, 12:17 PM
More evidence we are not going to recover soon under the Obama plan


http://www.bloomberg.com/news/2012-01-31/consumer-confidence-in-u-s-unexpectedly-drops-on-fuel-costs-job-concerns.html


(Bloomberg) — Confidence among U.S. consumers unexpectedly dropped in January as gasoline prices picked up and more Americans said jobs were hard to get.

The Conference Board’s confidence index fell to 61.1 from a revised 64.8 reading in the prior month, figures from the New York-based private research group showed today. The median forecast of economists surveyed by Bloomberg News called for a rise to 68. The figure was lower than the most pessimistic projection.

Job growth has fallen short of the pace required to drive bigger gains in wages, at the same time higher fuel costs threaten to strain household budgets and limit spending. The report showed fewer Americans expect their incomes to increase in the next six months, and they pared plans to purchase cars and homes.

Sentiment data indicate “just how fragile households believe the economic expansion is,” Steven Wood, president of Insight Economics LLC in Danville, California, said before the report. It is “largely the result of ongoing weakness in the labor and housing markets as well as the political bickering in Washington and on the campaign trail.”

KC native
01-31-2012, 01:31 PM
So, what was the ISM this month? How convenient that you ignore data points that don't fit your cognitive biases.

BucEyedPea
01-31-2012, 01:33 PM
Well gasoline prices just may have something to do with sanctions on Iran. The GOP supports that.

KC native
01-31-2012, 01:36 PM
Well gasoline prices just may have something to do with sanctions on Iran. The GOP supports that.

Jfc just stfu. I guess the fact that two major refineries on the East coast just closed has absolutely nothing to do with it.

BucEyedPea
01-31-2012, 01:37 PM
So that still doesn't mean sanctions don't shake up the markets even more. Prices soared during Iraq.

stevieray
01-31-2012, 01:39 PM
Well gasoline prices just may have something to do with sanctions on Iran. The GOP supports that.

...you forgot to blame Jesus.

KC native
01-31-2012, 01:40 PM
So that still doesn't mean sanctions don't shake up the markets even more. Prices soared during Iraq.

We import no oil from Iran.

Direckshun
01-31-2012, 02:04 PM
So, what was the ISM this month? How convenient that you ignore data points that don't fit your cognitive biases.

Now now now.

To be fair.

Whatever rightwing email list he's on didn't provide him that information.

So...

HonestChieffan
01-31-2012, 06:39 PM
[QUOTE=KC native;8339223]We import no oil from Iran.[/

God you are a moron

KC native
01-31-2012, 10:40 PM
God you are a moron

No, you're a fucking moron. We have trade sanctions against Iran. We don't directly import any oil from Iran.

Beyond that, the closure of the "unprofitable" refineries is to blame for the spike in gas prices. I haven't really looked into if the refineries were unprofitable (I highly doubt it) but they did say a fall in the growth of demand was a reason. They were the 2 of the biggest refineries on the East coast.

Bewbies
02-01-2012, 12:47 AM
Iran doesn't supply oil to the rest of the world, and that supply doesn't have any effect on the global market and pricing of oil.

Side note, why we import oil at all is beyond me. The EPA was formed to get us off foreign oil wasn't it?

whoman69
02-01-2012, 12:40 PM
Iran doesn't supply oil to the rest of the world, and that supply doesn't have any effect on the global market and pricing of oil.

Side note, why we import oil at all is beyond me. The EPA was formed to get us off foreign oil wasn't it?

Err, because we don't have enough. And no it wasn't.

patteeu
02-01-2012, 12:47 PM
Err, because we don't have enough. And no it wasn't.

I have to agree with this.

Amnorix
02-01-2012, 12:55 PM
Iran doesn't supply oil to the rest of the world, and that supply doesn't have any effect on the global market and pricing of oil.

Side note, why we import oil at all is beyond me. The EPA was formed to get us off foreign oil wasn't it?


umm...no.

petegz28
02-01-2012, 01:28 PM
Well gasoline prices just may have something to do with sanctions on Iran. The GOP supports that.

Gasoline prices don't have much to do with Iran. Not at this point. The $ is weak thus the price of oil is higher. That's pretty much the crux of high gas prices. Granted Libya may have had some to do with speculators having an excuse to buy up oil. The fundamental reason for high gas and other commodity prices is the weak US $. And come this summer when refineries are forced to switch to their "summer blends" prices will be even higher.