Jun 14, 2022
4:30:42pm
4:30:42pm
Increasing fear on the street that reducing the Balance Sheet too quickly could freeze up credit markets. Powell is
going as fast as he can on that. Even increasing rates by 75 basis points is increasing risk.
That can get out of control in a flash. I don't see the sense in going beyond 50.
How about Biden using the Defense Production act to double the supply of oil now and provide incentives to big oil by reducing permit regs and offer assurances that if they invest billions, the rug won't pulled out from under them in a year or two? The price of gas would drop 20%in 15 minues upon such an annoucement and another 20% over the next few months. Markets look ahead.
End all this ESG horsepucky and let Biden announce that as important as climate change is, it's a 40 year problem and for now it has to go on the back burner.
That can get out of control in a flash. I don't see the sense in going beyond 50.
How about Biden using the Defense Production act to double the supply of oil now and provide incentives to big oil by reducing permit regs and offer assurances that if they invest billions, the rug won't pulled out from under them in a year or two? The price of gas would drop 20%in 15 minues upon such an annoucement and another 20% over the next few months. Markets look ahead.
End all this ESG horsepucky and let Biden announce that as important as climate change is, it's a 40 year problem and for now it has to go on the back burner.
Originally posted on Jun 14, 2022 at 4:30:42pm
Message modified by roseyscenario on Jun 14, 2022 at 5:00:33pm
Message modified by roseyscenario on Jun 14, 2022 at 5:00:46pm
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