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The Economy (2020/21)

stoney

Part of the unwashed, middle-American horde
Jul 26, 2006
21,600
7,246
Colorado
@stoney this is a head scratcher for me ... WTF happened at 3:27 today?
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Bill passed**. The run was based on the "what might it be!" It passed and people realize that checks won't go out until likely May, there is a lot of limitations on the usage of the funds, etc. The reality is, the last few days were most likely shorts covering and stupid people buying under the guise of the CARE Act.

**I think that time lines up. The DPA was also enacted on GM around that timeline too.
 

jonKranked

Detective Dookie
Nov 10, 2005
85,883
24,467
media blackout
Economics makes no sense to me any more. Dilute the currency, prices will go up due to inflation. Economy is collapsing and there is no way to increase sales, prices go down.


In line with the last few weeks, but not higher than the down days.


PX is up, volume is flat to slightly down. But yes, dumbfuckery.
money printer goes brrr

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kidwoo

Artisanal Tweet Curator

Jm_

sled dog's bollocks
Jan 14, 2002
18,980
9,639
AK
That entire industry was basically a newly created government program from cheney-co. Because he doesn't like it when govt picks winners and losers......obviously.

We can't socialize healthcare but they had no problem socializing pollution.
Fracking and US oil production depends on oil prices being sky-high, otherwise they aren't viable compared to the ME just pumping oil out of the ground. Here in AK, the environment, both tundra and off-shore creates huge barriers to extraction, it has to be something north of $60/barrel and you'll generally be seeing gas prices in excess of $3/gal for it to make any economic sense to invest. I'd assume fracking is very similar. For sure at some point it will make more economic sense, but most people fail to realize how this actually F*cks them at the same time (high prices). You can't have it both ways at this point. SA and OPEC would much rather be selling their products and making $$$.
 

kidwoo

Artisanal Tweet Curator
Fracking and US oil production depends on oil prices being sky-high, otherwise they aren't viable compared to the ME just pumping oil out of the ground. Here in AK, the environment, both tundra and off-shore creates huge barriers to extraction, it has to be something north of $60/barrel and you'll generally be seeing gas prices in excess of $3/gal for it to make any economic sense to invest. I'd assume fracking is very similar. For sure at some point it will make more economic sense, but most people fail to realize how this actually F*cks them at the same time (high prices). You can't have it both ways at this point. SA and OPEC would much rather be selling their products and making $$$.
That's part of the reason why fracking became a thing. Part of Cheney's energy plan made the oversight so flimsy, and the extraction so cheap and easy that's how they skirted the costs of crude. You've driven through wyoming on i-80 before right? Remember all the discussion of the shanty towns built up in the dakotas to house new workers flocking to the shale fields? Haliburton basically created that in the early 2000s. It didn't just explode as an industry because it was new. It exploded because it got cheap.

The northern rockies is now full of previous shale field workers once the oversight started later.
 

SkaredShtles

Michael Bolton
Sep 21, 2003
65,646
12,706
In a van.... down by the river