How does this make you feel?

[VonMeister]

I like how you can't wrap your dumb racist brain around cumulative annual output and monthly production output

OPEC announced production cuts in April, a second round of cuts in June, and an extension of those reductions through December a couple weeks ago....oil prices have been on the rise ever since

Opec: What is it and what is happening to oil prices?

Saudi Arabia is cutting output by one million barrels a day, and Opec+ is keeping past cuts in place

www.bbc.com

prices at the pump have moved with these announcements

No they haven't.

 

[VonMeister]

I'll give you this..OPEC could lower production for a duration throughout the year. All oil producers commonly do this for several reasons. Refineries are down so raw product backs up, demand down so storage fills....what they aren't doing is lowering output to drive up the cost of gasoline or create some sort of shortage. Oil is a globally produced commodity today (unlike the 70's). The goal today is market share and keeping what you have. If OPEC artificially tried to cause a shortage we now have global production to make up any shortfall. Remember when OPEC was pissed that the US producers were flooding the world with oil causing prices to drop into the $50 dollar range., They didn't cut production...they flooded the world with so much oil it went to negative value.

 

[VonMeister]

long-term capital gains IS a tax break. It's comically easy to make money investing compared to "Earned Income". There should be no long term capital gains tax. There should be no pass through loophole. Everything should fall under the Earned Income brackets.

We're a trillion short and the rich people are the only ones with any money. Mitt Romney and I pay similar effective rates, and the notion that he's ever worked a day in his life is comical compared to the average bus driver.

This wasn't a problem until Reagan and Arthur Laffer.

Wouldn't you agree that capital gains being treated like earned income would have a negative impact on investment? If you move the PE hurdle to 15% the waterfall becomes impossible.

 

[Random Guy]

Wouldn't you agree that capital gains being treated like earned income would have a negative impact on investment? If you move the PE hurdle to 15% the waterfall becomes impossible.

It would hurt the people who have the money to invest
it would have no effect on the people who cannot afford to invest

i’m not sure it would keep people from investing. Where else are they going to turn money into more money.

it’s a benefit to people who aren’t poor
yay

 

[afoaf]

No they haven't.

here's OPEC's own press releases

OPEC : Press Releases

and here's the most recent press release where they discuss reducing daily output

OPEC : 49th Meeting of the Joint Ministerial Monitoring Committee

VonSufferable....

 

[wedge2]

Labeling people communist while they argue for a real free market is hilarious

 

[VonMeister]

here's OPEC's own press releases

OPEC : Press Releases

and here's the most recent press release where they discuss reducing daily output

OPEC : 49th Meeting of the Joint Ministerial Monitoring Committee

VonSufferable....

afoof the great googler. He can google, but he can't understand. Your link only says the cuts are for stability in the oil markets. What stability is that? Could it be that the forecasted China demand post Covid never materialized? Could it be high interest rates are curtailing spending? Could it be the weak and weakening global economies? You see afoofter....OPEC doesn't give a sh!t how much you pay for gas. If you gave a sh!t how much you paid for gas OPEC would be toward the bottom of the list. OPEC is worried about market share and sustained value in the oil markets. No one wants oil to crash and no one wants it to go back to $130/barrel.

Right now oil is priced at the second worst range it can be priced in (the worst being below $30-40 range). Where oil is priced today drives service pricing above the value range. 60-80 and everything is balanced. Over 110 and everything is haywire but everyone is making so much money it doesn't matter.

Right now the rising price of fuel is inflation driven. You aren't smart enough to understand the difference between core inflation and actual inflation. Before you google it and fuck it all up just take my word for it.....it's a big difference today.

 

[ElOgro]

afoof the great googler. He can google, but he can't understand. Your link only says the cuts are for stability in the oil markets. What stability is that? Could it be that the forecasted China demand post Covid never materialized? Could it be high interest rates are curtailing spending? Could it be the weak and weakening global economies? You see afoofter....OPEC doesn't give a sh!t how much you pay for gas. If you gave a sh!t how much you paid for gas OPEC would be toward the bottom of the list. OPEC is worried about market share and sustained value in the oil markets. No one wants oil to crash and no one wants it to go back to $130/barrel.

Right now oil is priced at the second worst range it can be priced in (the worst being below $30-40 range). Where oil is priced today drives service pricing above the value range. 60-80 and everything is balanced. Over 110 and everything is haywire but everyone is making so much money it doesn't matter.

Right now the rising price of fuel is inflation driven. You aren't smart enough to understand the difference between core inflation and actual inflation. Before you google it and fuck it all up just take my word for it.....it's a big difference today.

Who told you that you know anything about this.

Asking for afoaf.

The economy here literally lives and dies on the price of crude oil. It’s the single influence that the national budget is based on.

 

[VonMeister]

It would hurt the people who have the money to invest
it would have no effect on the people who cannot afford to invest

i’m not sure it would keep people from investing. Where else are they going to turn money into more money.

it’s a benefit to people who aren’t poor
yay

I sold a business two years ago to a PE firm. It was a disruptive business in a large industry but due to the investment hurdle was treading water. It had 16 employees including myself. The deal was I kept 30%, levered up the 70 and it was sink or swim. I distributed 15% of mine to the 16 employees on a percentage of salary basis because I took money off the table at closing. The PE firm made a very large investment all at once. Just shy of 4 years later they sold it to Samsung C&T and the lives of 15 employees changed forever.

If capital gains were treated as income the PE firm may have looked at my company as too risky because the hurdle would have more than doubled. The employees that got participation also got the benefit of capital gains tax treatment. This is a real benefit. Private equity invest heavily in small businesses. Private equity backed business employ about 70 workers on average. These are community type businesses. 85 percent of private equity backed businesses are small businesses that employ less than 500 workers. If you take this away.....or cut in in half were are businesses going to find the capital to survive or grow? You can read this post because of private equity.

 

[VonMeister]

Who told you that you know anything about this.

Asking for afoaf.

The economy here literally lives and dies on the price of crude oil. It’s the single influence that the national budget is based on.

I always thought it was the cost of pussy.

 

[ElOgro]

I always thought it was the cost of pussy.

The price of crude is US$ based. Pussy is peso based. Check the peso between 1992 when I moved here and today. IIRC, in 1979, when that nitwit Jalopo the clown was president, in San Blas Nayarit $10 USD was good for a skilled hooker, a liter bottle of Bacardi with ice and cokes, and a room with a fan. Tacos included. $15 USD for two hookers. The price dropped 20% for the second day and each successive day until you tapped out and got back on da fishing boat. That’s what I heard anyway.

 

[Sharkbiscuit]

Wouldn't you agree that capital gains being treated like earned income would have a negative impact on investment? If you move the PE hurdle to 15% the waterfall becomes impossible.

What else am I and everyone else with an extra coin going to do, swim in it like Scrooge McDuck? Stuff the mattress? Capital has nowhere else to go but to invest. I wouldn't give a wet sh!t if my long term capital gains rate was my earned income rate, because investing your money is still better than making origami swans out of larger denomination bills with it. And it's a hell of a lot easier than writing and fixing software, busing tables, warehouse/shipping, blowing pillows....

The deficit/debt wasn't a problem until Reagan and Arthur Laffer's thinking took over and it's been a problem for most of the time since. I've seen zero indication there's any popular support for spending cuts and quite a bit that there's popular support for tax increases on certain kinds of income.

What is private equity going to say when they're getting torn limb from limb by the vast underclass?

 

[afoaf]

afoof the great googler. He can google, but he can't understand. Your link only says the cuts are for stability in the oil markets. What stability is that? Could it be that the forecasted China demand post Covid never materialized? Could it be high interest rates are curtailing spending? Could it be the weak and weakening global economies? You see afoofter....OPEC doesn't give a sh!t how much you pay for gas. If you gave a sh!t how much you paid for gas OPEC would be toward the bottom of the list. OPEC is worried about market share and sustained value in the oil markets. No one wants oil to crash and no one wants it to go back to $130/barrel.

Right now oil is priced at the second worst range it can be priced in (the worst being below $30-40 range). Where oil is priced today drives service pricing above the value range. 60-80 and everything is balanced. Over 110 and everything is haywire but everyone is making so much money it doesn't matter.

Right now the rising price of fuel is inflation driven. You aren't smart enough to understand the difference between core inflation and actual inflation. Before you google it and fuck it all up just take my word for it.....it's a big difference today.

that's a lot of words about why they are reducing output...thanks for finally acknowledging that they are reducing output

never change, Doug!

 

[VonMeister]

What else am I and everyone else with an extra coin going to do, swim in it like Scrooge McDuck? Stuff the mattress? Capital has nowhere else to go but to invest. I wouldn't give a wet sh!t if my long term capital gains rate was my earned income rate, because investing your money is still better than making origami swans out of larger denomination bills with it. And it's a hell of a lot easier than writing and fixing software, busing tables, warehouse/shipping, blowing pillows....

The deficit/debt wasn't a problem until Reagan and Arthur Laffer's thinking took over and it's been a problem for most of the time since. I've seen zero indication there's any popular support for spending cuts and quite a bit that there's popular support for tax increases on certain kinds of income.

What is private equity going to say when they're getting torn limb from limb by the vast underclass?

You misunderstand how private equity works. By and large these are dollars invested by accredited investors and family offices. The risk is higher but the upside is higher as well. If you devalue the upside the risk tolerance goes down. The new bar is where investment parity resides. Now PE is competing with more traditional returns for this dollars and innovative or disruptive technologies suffer a smaller finding pool.

 

[VonMeister]

that's a lot of words about why they are reducing output...thanks for finally acknowledging that they are reducing output

never change, Doug!

Poor frustrated affoofter. The wandering fool can't defend his dumb point so he wants to make another.

You blamed OPEC directly for the rise in gas prices at the pump. Now that you know this isn't true you want to talk about something else. This was very embarrassing for you (obviously). Do you now want to be embarrassed again by your googling rather than just accept that oil production has increased every year since 2019? Do you really think finding a limited production anomaly in the data that has ZERO effect on the argument as a whole is a win? Your teachers must have been exhausted at the end of the day. I can only imagine how many groans were heard from the back of the class while you were going on and on when everyone else just wanted to go to recess.

You're the guy in the office that extends meetings with meaningless banter. There's always one.

 

[afoaf]

Poor frustrated affoofter. The wandering fool can't defend his dumb point so he wants to make another.

You blamed OPEC directly for the rise in gas prices at the pump. Now that you know this isn't true you want to talk about something else. This was very embarrassing for you (obviously). Do you now want to be embarrassed again by your googling rather than just accept that oil production has increased every year since 2019? Do you really think finding a limited production anomaly in the data that has ZERO effect on the argument as a whole is a win? Your teachers must have been exhausted at the end of the day. I can only imagine how many groans were heard from the back of the class while you were going on and on when everyone else just wanted to go to recess.

You're the guy in the office that extends meetings with meaningless banter. There's always one.

lol, I like how you triple down like a retard after being proven wrong

opec announced output reductions

per barrel prices went up

prices at the pump followed

 

[Sharkbiscuit]

If you devalue the upside the risk tolerance goes down.

After 2007/2008 this sounds like a feature and not a bug. If you'd like to suggest how you'd bring the budget into balance, I could use a good belly laugh, because basically nothing under the sun has the popular support of what I suggested, and I've seen far more tax increases pass (with zero negative consequences) than I have spending cuts.

It doesn't seem like the investor class wants to do this the easy way, so their families will die like the Romanovs when it comes time to do it the hard way. Nothing of value will be lost that day.

 

[VonMeister]

lol, I like how you triple down like a retard after being proven wrong

opec announced output reductions

per barrel prices went up

prices at the pump followed

You're still doing it

 

[VonMeister]

After 2007/2008 this sounds like a feature and not a bug. If you'd like to suggest how you'd bring the budget into balance, I could use a good belly laugh, because basically nothing under the sun has the popular support of what I suggested, and I've seen far more tax increases pass (with zero negative consequences) than I have spending cuts.

It doesn't seem like the investor class wants to do this the easy way, so their families will die like the Romanovs when it comes time to do it the hard way. Nothing of value will be lost that day.

I'm only talking abut he value of PE and how it's dependent on capital gains tax treatment.

Nobody wants to solve the budget and debt crisis in this country because everyone is going to have to give something. I like the idea of a flat income tax coupled with a some sort of federal spending limits. A flat tax would by nature remove CG and corporate tax from the tax code. Today roughly half of the citizens of the country pay zero in federal income tax. These are also the people who consume the most resources.

The US needs some float in its debt due to being the worlds trading currency but that should also trigger offsets in domestic spending. The citizens of the US benefit greatly by the US being the reserve currency so they citizens of the US should also be prepared to float their entitlements from time to time when the budget calls for it.

Of course this would require a complete overhaul of domestic spending and no one his going to go there. My favorite boondoggle is the agreed up front lawsuit. Aggrieved party sues the federal government for millions, government settles and the aggrieved party does the party in powers bidding with the money.

 

[Sharkbiscuit]

Nobody wants to solve the budget and debt crisis in this country because everyone is going to have to give something.

Sharkbiscuit and Pepperidge Farm, and maybe Duffy want to solve the budget and debt crisis.