[vtsnowedin]

On trial and error economics:
I think trial and error has been the predominate method actually employed for centuries and has yielded the civilization and industrial base we have. Those local results are typical in every locality and taken together become the whole. A solution that has proven to work in one locality has a good chance to work elsewhere with perhaps some minor adjustments to the local conditions.
The progress is slowed down however when a method proves to be an error but is tried repeatedly due to the arrogance of the proponents that makes them unable to admit their error.
Most science is in fact trial and error. One has an idea, puts together an experiment to "trial that idea then tries to make an unbiased observation on the results. The good results are built on, and bad results are annualized looking for the flaw trying to correct that flaw.
So far the Biden administrations policies on energy production have all been failures but of course they can not admit it even to themselves.
35 months to go.

[AdamB]

$this->bbcode_second_pass_quote('Armageddon', '')$this->bbcode_second_pass_quote('AdamB', '')$this->bbcode_second_pass_quote('Armageddon', '
')I’m sure you believe the 7% inflation too.

[AdamB]

$this->bbcode_second_pass_quote('Doly', '')$this->bbcode_second_pass_quote('', 'e')conomists who can't get stuff right....but the precepts within their social science, as you described in words, are reasonable.

[AdamB]

$this->bbcode_second_pass_quote('vtsnowedin', ' ')
While short term price hikes for gas and other fuel are annoying they do tend to even out over time. Inflation on the other hand erodes the value of any savings you have banked and the value of your wages and it never reverses back to what it was.

[vtsnowedin]

$this->bbcode_second_pass_quote('AdamB', '')$this->bbcode_second_pass_quote('vtsnowedin', ' ')
While short term price hikes for gas and other fuel are annoying they do tend to even out over time. Inflation on the other hand erodes the value of any savings you have banked and the value of your wages and it never reverses back to what it was.

[Armageddon]

My track record is pretty good. Things I said that came true

- cut rates to zero when everybody said they’d raise
- debts and deficits will explode
- inflation will run rampant
- oil will exceed $100 again

I nailed all four before they were popular

[Armageddon]

US debt will be 50T in 4 years. When this happens, the deficit will exceed 5T quite easily. It won’t be long when nearly every tax dollar collected will go to servicing the debt. The day of reckoning is approaching.

[AdamB]

$this->bbcode_second_pass_quote('vtsnowedin', '')$this->bbcode_second_pass_quote('AdamB', '')$this->bbcode_second_pass_quote('vtsnowedin', ' ')
While short term price hikes for gas and other fuel are annoying they do tend to even out over time. Inflation on the other hand erodes the value of any savings you have banked and the value of your wages and it never reverses back to what it was.

[AdamB]

$this->bbcode_second_pass_quote('Armageddon', 'M')y track record is pretty good. Things I said that came true

[AdamB]

$this->bbcode_second_pass_quote('Armageddon', 'U')S debt will be 50T in 4 years.

[vtsnowedin]

$this->bbcode_second_pass_quote('AdamB', '
')
Did you not have the opportunity to do the kind of 401k funds I was thinking of? I didn't have them available to me early in my career, but I noticed that one kid had it availlable as soon as he took his first job in college while working at a department store, and the daughter had it available as soon as she entered the white collar world.

[vtsnowedin]

For young investors they should of course use 401Ks and the like to the maximum allowed and take any company match they offer to reduce their tax burden. Some companies don't offer index funds in their 401Ks which is a shame but if you have a choice of funds chose the one with the lowest expense ratio and the lowest annual turnover.
In my 401K I have FNILX which is a large cap index fund passively managed. It's expense ratio is 0.00% and it's annual turn over is 5%.
A Competitor is Vanguard's VTI which is a whole market index with an expense ration of 0.03% and an annual turnover of 8%.
I'm not promoting either one but compare to say QQQ which has an expense ratio of 0.20% and a turn over of over 200%. In that 0.2% is 0.07% spent on advertising which comes to $95,000,000 then in a year they sold 819 million shares of stock and bought 797 million shares of stock with brokerage expense of 114 million. All of that comes out of shareholder pockets.

[AdamB]

$this->bbcode_second_pass_quote('vtsnowedin', '')$this->bbcode_second_pass_quote('AdamB', '
')
Did you not have the opportunity to do the kind of 401k funds I was thinking of? I didn't have them available to me early in my career, but I noticed that one kid had it availlable as soon as he took his first job in college while working at a department store, and the daughter had it available as soon as she entered the white collar world.

[AdamB]

$this->bbcode_second_pass_quote('vtsnowedin', ' ')
A Competitor is Vanguard's VTI which is a whole market index with an expense ration of 0.03% and an annual turnover of 8%.

[vtsnowedin]

$this->bbcode_second_pass_quote('AdamB', '')$this->bbcode_second_pass_quote('vtsnowedin', ' ')
A Competitor is Vanguard's VTI which is a whole market index with an expense ration of 0.03% and an annual turnover of 8%.

[Armageddon]

Highest inflation ever if it was calculated the same way back in the 70s and 80s.

[vtsnowedin]

$this->bbcode_second_pass_quote('Armageddon', 'H')ighest inflation ever if it was calculated the same way back in the 70s and 80s.

[Armageddon]

The last time inflation was here, the Fed Funds rate was 11.50%

[vtsnowedin]

$this->bbcode_second_pass_quote('Armageddon', 'T')he last time inflation was here, the Fed Funds rate was 11.50%

[Tanada]

I find it "interesting" that WTI is trading around $120/bbl and yet the price of Gasoline and Diesel fuel are setting all time records. Sure back in 2008 we swung all the way up to $147/bbl pretty rapidly. However despite that fact and the fact that back then we were importing a far larger percentage of our total oil consumption for even higher prices on the world market somehow fuel prices are not 19% lower than they were when we set that 2008 record. Instead the fuel prices to consumers are some 30% higher than they were in 2008.

So any theories to explain just how the end user is getting bent over by "big oil's big lie"?