Oil prices, Urals vs. Brent, gasoline prices weekly thru yesterday, one-year-ahead y/y inflation forecasts, and China in deflation (again).
STEO on oil prices (WTI) from today’s release:
Urals Price vs. Brent as of 12/11:
Gasoline prices thru 12/11:
One year ahead CPI inflation expectations – why is the Michigan survey so volatile (or why is the NY Fed survey so stable)?
The first difference of the Michigan survey rejects the Normality null using a Jarque-Bera test; the NY Fed series does not.
China back into deflation (y/y and m/m):
Urals below Cap; Some success with enforcement; Let’s stop pussyfooting around
https://www.princetonpolicy.com/ppa-blog/2023/12/11/urals-below-cap-some-success-with-enforcement-lets-stop-pussyfooting-around
Let’s stop pussyfooting around
Is one stupid title. No I did not read your worthless blog post but I do know the Urals price is below $60. DUH!
“The war in Ukraine is attributable to a failure of deterrence by the Biden administration. The disastrous pullout from Afghanistan marked President Biden as a weak leader and encouraged President Putin to try his hand at Ukraine.”
What a load of garbage. Trump signed that stupid deal not Putin. And Putin invaded because he fears the expansion of NATO. Of course Biden has expanded NATO after four years of Trumpian trashing of it.
Trump committed the U.S. to pull out of Afghanistan. Anyone who blames Biden is either ignorant or dishonest. Or both.
The spectacle of the pullout – mobs at the airport, an attack by rivals to the ruling faction – has given Biden a lot of grief. But again, you have to be either ignorant or dishonest to claim things could have gone materially better. We kept a lid on violence in some areas while we were there – and it was a leaky lid at best. Once we were no longer in charge of public safety, public safety went to hell. To expect anything else is stupid.
Princeton Stupid Steve takes great price in being the most ignorant consultant ever.
And yet, the Kyiv Post reprinted my piece as an op-ed.
https://www.kyivpost.com/opinion/25372
‘A recent Bankrate survey shows that, by a margin of 2-to-1, employed Americans feel that their wages are not keeping up with inflation. Thus, despite robust recent GDP growth and near full employment in the US’
And we thought Princeton Stupid Steve said we have been in a recession since the first half of 2022. BTW Stevie pooh, nominal wage growth has exceeded inflation over the past 12 months. So stop acting like JohnH by saying just the opposite. And no I do not care what a bunch of Faux News morons say to a pollster.
Thank you President Biden for your competent leadership. Thank God we didn’t end up with that senile orange clown getting another 4 years.