It's no wonder Trump has gone BK, what is it 6 times? He doesn't understand simple economics
Like Supply & Demand. This is Middle School stuff, when the Supply goes up, the price goes down.When the price is High, you Sell, when the price is Low, you Buy.
The price of crude oil is low right now so it's the worst time to sell oil from the SPR (Strategic Petroleum Reserve). Besides, that oil is supposed to be used as a hedge against domestic supply disruptions causing widespread economic impact akin to what happened in 1973 due to the Arab Oil Embargo, NOT for bailing us out of the $Trillions of extra debt Trump has created by mismanaging the countries finances.
This reminds me of the time when another ignorant Republican president GW Bush was Filling the SPR when the price of Crude was around $98. a barrel.
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The beauty of the Trump energy strategy is that not only do we get cheaper oil, which is the driving force behind any economy, but we get far better national security, millions of more jobs, and more economic and therefore political and military leverage over other countries. Instead of becoming dependent on foreigners, THEY become more dependent on US. In other words it makes America stronger, safer, more influential and more prosperous all at once. Exactly the things America's enemies and adversaries (including the Democrats) don't want us to be.
If the Democrats hate it, you know you are on the right track for America.
BRILLIANT!
It can be done.
It was begun 1/4 century ago -- @ 3:10 ...
In retrospect, it's astonishing & heartbreaking to listen to what was said in that 7 1/2 minutes, knowing now what followed in the ensuing years... Unbelievable that it even could've been said.
Oddly, Much of what was touted sounds eerily like it could've been lifted verbatim from one of The Don's re-election rallies.
you need to get laid.
Thanks for your generous offer.
However, that's taken care of.
Locally an ex-girlfriend has me enlisted in her friends with benefits program,
which from much experience, is a lot better than a full time relationship with her.
Has anybody seen that new series....'Little People'?
"Basic principle of economics.....supply determines demand....therefore price."
Are you saying that as the supply goes up the demand goes down?
And if the supply goes down the demand goes up?
That is ridiculous.
Price is a product of supply & demand. As the relationship between supply & demand changes the price goes up or down. Supply does not determine demand.
You claim to have a BS in economics, well we all know what BS stands for.
Basic principle of economics.....supply determines demand....therefore price
Now I know why Jim calls you dopey
Your BS in economics came from a paper mill DOPEY!
BN educate us about price elasticity and how a product can be price elastic or inelastic with respect to supply and or demand.
^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
@FRONT
Dont embarrass yourself even more. Your little paragraph is nutty
Every first semester econ student knows what I just asked you above. Every student
Supply is determined by demand
Price is much more influenced by demand. Indeed, the demand is more determined by the supply, than the other way around.
No matter how much I demand the Hope Diamond, it doesn't change the supply.
There's only 1. It's an extreme example to help you understand the relationship.
We really can't make more oil. There's a finite supply. We can hope to find more of it. But, even if we do, there is still a finite supply. At some point in the future
the supply will go down and the demand will go up. But, eventually the demand will then go down as alternative sources are more efficiently utilized.
Now the stock market is all about guessing, its all about trying to figure how market decisions are made based on factors like confidence and current events....too many variables that Economists don't consider as economic indicators yet they play an equally important role, but its not something we use as a guideline because we just can't quantify it....or its consistency. We can make generalizations, trends, scenarios, etc, but it's just not reliable or repeatible.
Economic principles are just that....guidelines to predict future performance based on a perfect model we invented....and economics (the Dismal Science) is anything but perfect.
So I get what you're saying and its equally admissible and probably more applicable, it's just not how they tell us to teach it.
"Price elasticity measures the responsiveness of demand to changes in price, which can, as I said, hopefully motivate the seller (Saudis) to increase the supply. In this history lesson, it wasn't necessarily going to happen....they held the marketplace hostage. Almost all price elasticities are negative though, as an increase in price usually leads to lower demand, and vice versa."
I googled this and lo and behold it seems you reworded the first thing that pops up on google!
Lower taxes, deregulation and a tightening hand on spending are necessary for economic expansion. President Trump has set us on the right path but he realizes we have to control spending, the third wheel in a sound economic plan for the future. The fourth wheel is confidence in the future....our outlook. And by keeping the democrats far away from meddling in the affairs of government we can already see how great this is making America. 2020-2024-?