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Politics : The Trump Presidency -- Ignore unavailable to you. Want to Upgrade?

To: combjelly who wrote (255211)

10/24/2022 6:43:43 PM

From: koan

Read Replies (2) | Respond to of 360688

Yes, in fact that is the first thing you lean in econ 101--when demand exceeds supply, the price rises=lol.

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As pointed out, there is no recorded history of an inflation without excessive printing of money.

You may have claimed that. Per usual, it doesn't make it true. It is trivially easy to demonstrate inflation in selected items due to demand exceeding supply. Now it is not the usual case to have that be true against a wide variety of items. But that is what happens when supply chains get snarled.

It amazes me how often you demonstrate how you fundamentally don't understand basic concepts.

To: combjelly who wrote (255211)	10/24/2022 8:31:54 PM
From: Wharf Rat	1 Recommendation Recommended By Ms. Baby Boomer Read Replies (1) \| Respond to of 360688

" It is trivially easy to demonstrate inflation in selected items due to demand exceeding supply"' Like oil? OPEC Update, October 2022 10/19/2022 D Coyne The OPEC Monthly Oil Market Report (MOMR) for October 2022 was published recently. The last month reported in most of the OPEC charts that follow is September 2022 and output reported for OPEC nations is crude oil output in thousands of barrels per day (kb/d). In most of the OPEC charts that follow the blue line is monthly output and the red line is the centered twelve month average (CTMA) output. Note however there are a few exceptions to this for OPEC+ charts near the end of the post where EIA C+C data was used which has the most recent data from June 2022 (so three months behind the OPEC crude only data in most of the charts that follow.) Figure 1 Figure 2 OPEC crude output was revised lower in August 2022 by 30 kb/d compared to last month’s report and July 2022 OPEC crude output also revised down by 69 kb/d. OPEC output has increased by 1884 kb/d since December 2021 and by about 4000 kb/d above the average level in 2021. continues.... In the chart that follows, I used Short Term Energy Outlook estimates by the US EIA for US C+C output in August and September. Output for OPEC13 crude + Russian C+C + US C+C was 1642 kb/d below the level at the World centered twelve month average (CTMA) peak in August 2018 of 53539 kb/d for these 15 nations. Figure 5 peakoilbarrel.com