General Discussion

Metaphorical

(2,658 posts)

3. It is inflation.

Sat May 9, 2026, 01:26 PM

Yesterday

Most inflation is due to supply side shocks initially, then price gouging until warehouse storage costs becomes an issue. This was what happened with the pandemic, its what's about to happen now.

Milton Friedmans contention that inflation is due to increasing the money supply is mostly wrong, but moreover its too simplistic. The connection between money supply and inflation is weak, but every major increase in prices is directly correlated to exogenous shocks and supply chain disruptions.

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Jilly_in_VA Cheezoholic Maru Kitteh Attilatheblond jgo

97 replies

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Highlight:

"EIGHT WEEKS TO EMPTY SHELVES. SIXTY DAYS TO FAMINE." EVERYBODY INSULT THE OP! [View all] CousinIT Yesterday OP

This writer isn't an authority on the subject. His opinion is no more valuable than any of us. hedda_foil Yesterday #1

But but but...He's a "spiritual guy"! A HERETIC I AM Yesterday #7

We import most of our oil from Canada and Mexico. honeylady 21 hrs ago #45

Mexico, Canada enid602 2 hrs ago #89

There was an article posted a week or so stating that the last tanker of oil had reached LA. That gives US in2herbs Yesterday #8

A bunch of pretty lame economic arguments here. Bluetus 22 hrs ago #41

Exactly. SergeStorms 1 hr ago #93

Sure, just like they did with ventilators during covid. hadEnuf 56 min ago #94

Yes, the last tanker from the Middle East for California/West Coast DetroitLegalBeagle 20 hrs ago #58

This is the truth. Our inventories in the US are low Melon 23 hrs ago #21

We can always "frack" more oil, since it's still in the ground FakeNoose 23 hrs ago #26

I agree. Getting away from peak oil is good. But we aren't running out during this mess. Melon 22 hrs ago #31

Yes, "we" do have a huge incentive to convert our homes and businesses to sustainable energy sources. ShazzieB 22 hrs ago #42

No apologies needed. sheshe2 20 hrs ago #59

Thank you! ShazzieB 12 hrs ago #74

You are not alone. sheshe2 12 hrs ago #75

Supposedly, most of the oil we produce isn't usable in the U.S. kerry-is-my-prez 20 hrs ago #50

That's not entirely true. Melon 20 hrs ago #53

Neither is the 'Resident of the US. sheshe2 12 hrs ago #76

One doesn't have to be an "authority"... GiqueCee 22 hrs ago #35

This country does not rely exclusively on oil from the Persian Gulf. hedda_foil 19 hrs ago #61

As our Dear Leader is fond of saying... GiqueCee 19 hrs ago #63

Of course we won't be fine. Rapenfuhrer is about to start the next worldwide depression with his little excursion --. hedda_foil 17 hrs ago #64

Awww... GiqueCee 5 hrs ago #86

Not Exclusively Us A Huge Understatement ProfessorGAC 17 hrs ago #66

We've been hearing 20 percent since the start of the war. NH Ethylene 32 min ago #95

I believe the 20% refers to the world supply of oil comes from there EX500rider 15 min ago #96

490,000 Barrels Out Of Nearly 21 Million Consumption ProfessorGAC 4 min ago #97

In early 2022, price if diesel reached $6 a gallon. Nobody starved. Kaleva 10 hrs ago #80

The trucker guy I watch says this also. Blue Full Moon 4 hrs ago #87

Maybe Maga will notice when there's a shortage of cheap beer Walleye Yesterday #2

They would somehow blame Biden. Beartracks 22 hrs ago #28

Or Mountain Dew llmart 22 hrs ago #33

It is inflation. Metaphorical Yesterday #3

This is sensationalism. bearsfootball516 Yesterday #4

This is why Jilly_in_VA Yesterday #5

July 4th. Smack dab on Trump's celebration day. oasis Yesterday #6

Revolutions are fought by those whose ribs are easily counted . BattleRow 22 hrs ago #40

Please remember back to 1999 if you will. Airplanes will fall out of the skies, elevators will fall, ATMs wont give $$$ Srkdqltr Yesterday #9

Worth reading NBachers Yesterday #10

Not so much. It's a fantasy. Melon 22 hrs ago #32

Should I panic? sarisataka Yesterday #11

This message was self-deleted by its author Qutzupalotl 23 hrs ago #14

IIRC, we export most of our oil. sakabatou 21 hrs ago #47

That's what the guy's write-up says. N/t CousinIT 17 hrs ago #68

I believe we are the number 1 oil producer sarisataka 19 hrs ago #60

Actually the US is the largest oil producer by far EX500rider 1 hr ago #91

You can bet your sweet ass popsdenver 23 hrs ago #12

Cool story bro JoseBalow 23 hrs ago #13

I expect reinstatement of the oil export ban. roamer65 23 hrs ago #15

Why would gasoline be rationed if we have plenty of oil Melon 22 hrs ago #43

Buy canned goods now. swong19104 23 hrs ago #16

The US has been exporting more oil and petroleum products than it imports since August 2021. eppur_se_muova 23 hrs ago #17

And this is the reason I pooh-pooh all the hullabaloo slightlv 23 hrs ago #25

My alter ADHD will kick in. multigraincracker 23 hrs ago #18

Independence Day IronLionZion 23 hrs ago #19

Well, I don't think we're gonna all starve. But I am going to short the market.😀 ashredux 23 hrs ago #20

No, not everyone will starve... but their will be a LOT of hungry people... slightlv 23 hrs ago #27

25 Recs. flvegan 23 hrs ago #22

It's clickbait from an opinion blog IronLionZion 22 hrs ago #34

We should be thankful this wasn't passed off as LBN. NT mahatmakanejeeves 22 hrs ago #37

Thanks for the insult. CousinIT 17 hrs ago #69

52 demmiblue 22 hrs ago #39

One thing: The US produces oil itself and SELLs it to other countries dave99 23 hrs ago #23

Yes and we've had a strategy for the last 50 years (thanks to Henry Kissinger) FakeNoose 17 hrs ago #65

WP: "Iran war is crushing Asia's farmers, threatening global food supply" Gaugamela 23 hrs ago #24

This is false information. James48 22 hrs ago #29

I am a prepper but this is nonsense Keepthesoulalive 22 hrs ago #30

What about the fact that only 20% of the global moreland01 22 hrs ago #36

There is a difference between Europe and the U.S. Europe has electric trains. We do not. LiberalArkie 22 hrs ago #38

What is the overall point? We aren't running out of diesel either. Melon 21 hrs ago #44

Did you read the WHOLE article? GiqueCee 21 hrs ago #46

Yes. That guy is saying hot garbage. Thus my response. Melon 21 hrs ago #48

Maybe worse case but I would bet the farm that supply and inflation will have a major impact by July yaesu 20 hrs ago #49

Liberation Day bucolic_frolic 20 hrs ago #51

$7.00/gal + here in WA pfitz59 20 hrs ago #52

Well, one of the incentives for the Hiroshima and Nagasaki bombings to quickly end the war Wednesdays 16 hrs ago #72

I say bring it on Bluestocking 20 hrs ago #54

It seems like the comments here are mostly skeptical, but on Substack, they are mostly in agreement. ihaveaquestion 20 hrs ago #55

Oil tankers don't run on diesel. We don't "need" others oil either Melon 11 hrs ago #77

"For two months, the world coasted on oil that was already at sea. That floating inventory masked the full scale of what riversedge 20 hrs ago #56

California made a decision to source petroleum and products from overseas Melon 11 hrs ago #78

Yesterday I heard cattle herds haven't been this low since the 1950s FullySupportDems 20 hrs ago #57

Lots of angry reactions here on DU to this article Blaukraut 19 hrs ago #62

Yeah. They skimmed it, made assumptions, and then went right to pile-on attack mode. CousinIT 17 hrs ago #71

About 60% of the oil the US imports comes from Canada and Mexico Kaleva 10 hrs ago #81

Yeah....no Boo1 17 hrs ago #67

Hyperbolic Stuckinthebush 17 hrs ago #70

I recommend Mr Global on youtube D_Master81 15 hrs ago #73

There is plenty of diesel fuel Kaleva 10 hrs ago #79

This is simply not credible. Please don't give in to fearmongering and misinformation. Rainbow Droid 7 hrs ago #82

Thank you for the warning! Kid Berwyn 7 hrs ago #83

According to the US Energy Information Administration... jmowreader 6 hrs ago #84

Original source talks about California, not the nation Kaleva 6 hrs ago #85

What utter BS. The oil reserves are in the ground in Canada and US. Bev54 2 hrs ago #88

Remember when that Geology professor told us masks don't lessen the spread of COVID-19? Soul_of_Wit 2 hrs ago #90

Why won't American oil companies either produce more or export less to meet the US demand. ChicagoTeamster 1 hr ago #92