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You can hedge a bit with zsl.

Gas is over 6 – 6.40 a gallon in California and some places going to 9 dollars. Does he really think the 18 cents a gallon is gonna make a big difference. Wow whoopee saved us 1.80 on 10 gallons that cost 64 dollars or more. Glad it’s going down in real time though I hope.

Everything else is getting hit – including silver.

Looks like another day on autopilot.

Didn’t realize oil was getting hit as hard as it is. Can’t be because Biden is taking a 3 month gas tax holiday, right?

Gold trying to tap $1850 in a little stealth rally.

I’m confused with your comments things are too cheap. You mentioned how a person could live on minimum wage once.
Kids these days can’t go out and get a place on minimum wage anymore.
I remember back in the early 70s on TV seniors particularly widows were starving and buying cat food for protein while widowers were eating TV dinners because they never learned how to cook “ as was the culture then” and was sad. I remember giving food to one senior and driving another to the discount store once a month because she could either no longer drive or couldn’t afford to maintain a car and insurance I never asked. Things weren’t good for everyone even then.

Back in those days they didn’t have the same amount bills as now and housing was cheap and jobs were plentiful with multi opportunities even without a college degree particularly for men.
They rarely bought car insurance, it wasn’t mandatory, or medical insurance. Dmv wasn’t too bad then until they started paying police better. Phones bills were pretty cheap. You didn’t have to pay for cable channels and food was more plentiful and affordable including restaurant chains like Denny’s for family’s or late night workers, Drive in movies saved the family the high costs of less healthy snacks and parents could take their kids and let them sleep in the car and watch a movie themselves without having to hire a sitter. Now you can spend more on that for kids than the ticket.

Airlines were definitely cheaper. I remember as a student I could fly for 50 dollars round trip. When Jayne Mansfield was shockingly killed in a car accident by a hot rod teen also killed it cost her husband less than 100 dollars to have her flown home back in the 60s.
Back in the 90 s I knew a nurse who’s son was killed and they charged her thousands to fly him home and cost of burials went way up and they didn’t have that kind of money.
The seats had more room, the stewardess had more class and were a conduit for other women who wanted a job in travel, many were trained nurses or could speak more than one language or both and they served real food for longer trips. People with family’s did choose to take trips by car then and streets were less crowded and gas cheap so maybe less demand.
That was before increased levels immigration by the democrats and mass illegal immigration as well as generational welfare that included the illegals that could get money and benefits for the American born children and some tended to have a lot of them. Them later birthing centers popped up for foreign nationals creating more people.
That and travel by car became more expensive, time consuming and less safe.

A friend just wrote me about taking her grandson to a kids pizza place with rides and games. She said there were mostly immigrants in there as well as the workers now and she could tell they way they talked and acted were illegals. She is also a immigrant but a legal immigrant who earned her citizenship.
She doesn’t like seeing whats going on and people aren’t stupid, they know what the Demos are doing and it’s criminal and repubs what are they doing about it? Demos are even getting away with harassing others members of Congress. As a citizen she has full rights and every right to be concerned as any other citizen.

Even CEOs now know that prices went to far and need cooling down. Higher interest rates are going to affect every sector. At the same time it’s not making gas or food any cheaper but could freeze or affect their wages, benefits if they can’t get full time or even jobs.
Now they are figuring out how to survive the recession they feel that won’t be “ transitory” either.
Now the demos are scheming next for amnesty of the illegals while wanting to disarm all citizens.

Now it’s just not food , gas , utilities, that was more affordable back then and people could save and draw interest, that people have to worry about.
Besides rising cost of greedy corporate housing, gas and food creating a tipping point. Blue city costly car insurance, higher DMV registrations, property taxes, medical insurance that could near 1000 a month for family “ more than many two bedroom apartments or a mortgage on a home if they already had one before the pre 08 boom and bust back then, even if a small one child family and 6-700 for individual so about tripled with government getting their nose it in for the benefit medical “corporations,” that btw let you go untreated for Covid, and stopped seeing patients if they could, cable bills people are starting to drop, internet and phone services, pricy phones you have to replace every few years, and higher consumer taxes even on utilities after Federal taxes from the pay checks.

I’m sure I’m missing a few things like home insurance, life insurance, unexpected repairs or bills, dental insurance and out of pocket because it doesn’t cover much, and education or supply’s. And now coming soon heating bills.
Most people can’t afford to send their kids to college.
I know two nurses who quit to raise kids who went back to work to send them to college while the husband paid the other bills.
That’s without getting sick or injured or a family member including extended family, or God forbid if they should have any time or any left R&R. And they wonder why employers can no longer find them.
You can’t compare the times you lived in or geo centered to one or two places to what it was then to now. It’s easy to do. In my day I did this or that. Besides now White men , conservatives, patriots or Christians or Jews in some cases and Asians need no longer apply.
Your right about one thing, they’ve been getting away with or taking advantage too long while cost living kept going up and now it looks like England rail transportation is going to strike and will cause unexpected hardships on a lot of people.

If it’s about Powell I doubt he’ll say anything new.
Looks like more than electric power could have problems. Midwest .., Wisc and PA lost Phone and internet service today.

https://downdetector.com/status/verizon/

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Three digits all week and then 99 down in 90s
People on edge about possible power outs.
Hard to conserve keeping cool. Not to bad here due to insulation despite 104 not to great either.
Hope not too many kids are forced to walk alone to summer school mostly for something to do in this heat due to gas prices that double in parents who both work and drive kids to school and back. I heard some people are having to walk to work. It’s not like back east where they have buses. I remember years ago my daughter found a kid cant remember 8 or 9 collapsed in the heat lying on the grass next to the side walk and brought him to me who was beyond heat exhaustion heading for heat stroke. They need to bring school buses back.

Many years ago, I had a landlord that was renting way below market, sold the places, and the new landlord doubled the rent. Even recently a renter friend had low rent, then Fairfield Properties bought the places and doubled his rent. He moved to Fla.

Gasoline was too cheap. Gov’t manipulation on futures markets? Airline tickets are STILL too cheap. Causing too much demand imbalance causing problems lately. The gov’t subsidized a lot of sectors to keep consumer and business prices lower than normal.  In time the Gov’t itself  “won’t get away with it” anymore. It meaning manipulating prices.

Its not an organic gold money capitalist economy anymore, its a man made hollow shell artificial economy, like the Twin Towers that were so cheaply built they just imploded. Before that day, firemen NEVER saw a high rise collapse because of a fire. Even the surrounding same construction buildings collapsed due to fire only.

The entire global economy and financial system aka globalization like the Trade Center buildings, was a very big cheap vulnerable thing the central planners “got away with” until open borders caused 9/11 and 2008, and then the Covid spread from all this global intermingling. The gov’t created frivolous and promiscuous vacation and business travel.  Encouraged or subsidized by the central planners.

What ever was too expensive like stocks and real estate, same thing. Subsidized by the Feds low rates. When prices crash, we have to be happy that things were so good for so long. Meats must have been too cheap. Way up. Labor was too cheap also. No more cheap labor available. Businesses have to be happy they had good times.

My best friend had 8 stores making big money on 65 employees getting $7/hr. Its over for good. This labor shortage will probably get worse. So many people working for $15/hr, part time in super markets and with higher prices, they will have to figure out something else and another way to make money and quit. Like whats been going on.

I look at the economy like a mechanical thing that it totally out of balance needs to be redesigned. It was good a high quality “machine” after the Founding Fathers created it. After 1913 those highly educated people made a lot of changes especially after 1945 that were not good long term.

The youngsters mentioned this, watch for volatility tomorrow morning.
Powell
https://www.banking.senate.gov/hearings/the-semiannual-monetary-policy-report-to-congress

It doesn’t give June’s price yet but appears to jumped up about a dollar or more depending , trying to triple what it cost then.
Even before Covid in Nov 2019 till now it’s more than doubled.
The lefts answer will go something like don’t believe everything you see.

On Nov. 10 2020 I put about 14 gallons in my van at a cost of $1.959 per gallon .
Last week I paid $5.299 for regular , not high test gas , at the same station .

Here’s a history of gas prices in your area.
The Ukraine conflict didn’t start until the Russian invasion/ reaction to Clause build back broke until the end of February 2022 and before gas sanctions which had little to nothing to do with our prices anyways but caused by Biden. It started consistently moving up the year before and just continued up and worse in Calif.
this was the argument after the elections by the Trump haters. That gas prices were down because of Covid, that there just going back to normal. They saw no consequences what the radical left would have on gas or the cost of living.

They were in total denial even when they thought do as he’s told Biden pretty much announced they were going to take a wrecking ball to the US before the elections. They fell for all the blame shifting and made up problems or expected
Trump to do everything by himself. Kinda a oxymoron, what did the left do but lie to them, even while being attacked Trump did more for this country than they’ll ever do it did do other than make a mess out of everything while following tyrants.
Gas prices were going up by the month since 21.

2003 NA 1.458 1.507 1.600 1.625 1.521 1.482 1.480
2004 1.606 1.658 1.743 1.804 1.953 1.982 1.922 1.816 1.875 1.995 2.014 1.923

2005 1.883 1.931 2.100 2.270 2.190 2.163 2.275 2.482 2.882 2.825 2.371 2.218
2006 2.362 2.317 2.458 2.798 2.871 2.822 2.932 2.947 2.637 2.247 2.231 2.316
2007 2.270 2.251 2.558 2.836 3.035 2.991 2.908 2.739 2.775 2.826 3.104 3.062
2008 3.094 3.070 3.284 3.471 3.765 3.995 4.028 3.767 3.733 3.127 2.171 1.724
2009 1.813 1.959 1.983 2.084 2.249 2.605 2.536 2.570 2.469 2.510 2.678 2.633

2010 2.742 2.678 2.800 2.841 2.816 2.649 2.633 2.660 2.642 2.758 2.817 2.984
2011 3.092 3.182 3.544 3.752 3.832 3.582 3.589 3.598 3.521 3.378 3.348 3.255
2012 3.413 3.648 3.819 3.885 3.568 3.322 3.303 3.623 3.756 3.625 3.349 3.293
2013 3.402 3.697 3.708 3.490 3.433 3.454 3.502 3.499 3.441 3.272 3.260 3.401
2014 3.371 3.350 3.505 3.682 3.625 3.554 3.485 3.313 3.278 3.137 2.848 2.552

2015 2.141 2.186 2.424 2.458 2.574 2.653 2.578 2.346 2.125 2.122 2.079 1.993
2016 1.889 1.730 1.942 2.026 2.175 2.276 2.124 2.060 2.145 2.182 2.089 2.237
2017 2.335 2.223 2.231 2.384 2.303 2.256 2.145 2.247 2.673 2.417 2.430 2.342
2018 2.461 2.542 2.488 2.636 2.781 2.732 2.715 2.724 2.723 2.747 2.496 2.229
2019 2.146 2.242 2.504 2.697 2.635 2.468 2.568 2.376 2.398 2.384 2.351 2.421

2020 2.455 2.327 2.129 1.804 1.770 1.948 2.065 2.069 2.110 2.096 1.974 2.139
2021 2.266 2.440 2.759 2.787 2.816 2.886 2.952 2.945 3.006 3.141 3.268 3.194
2022 3.186 3.439 4.104 4.020 4.346
Florida Gas prices
https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=EMM_EPMRU_PTE_SFL_DPG&f=M

People buy Bitcoin for different reasons initially a store of value like a digital gold, and or both away from the control and manipulation of other people. Also lack of trust that fiat is reliable. Not being able to dilute. Then with governments talk about eliminating cash basically people confiscating your money and privacy have a alternative away from their control and inevitable rising charges to hold it.
Rising interest rates may have something to do with following the money in the case the USD not caring too much yet for the other reasons then the selling may have cause panic selling. Others won’t be lured away, they’ll just buy more. Elon was accepting Bitcoin for cars but stoped after awhile.Eventually some of the get in cheap lure copycats or not trusted and secured or even coin or fiat related usefulness in trade off shoots would fail.

Some of the arguments are humorous. Like those who say the dollar is not backed by anything like gold, but either is Bitcoin and gold backs itself.
Gold is too expensive lol, That might have been true when Bitcoin was 3-10 dollars but now it’s the potential worth although you can’t take physical possession of it or prevent it from being hacked easily or easily exchange it and costs domestically or world wide like you can gold or if there is a power out you can’t use it. Some have both.

And they HATE pockets of independence, like Russia now, Iran, Cuba, N. Korea, even if its the Branch Davidians, or that family on Ruby Ridge.

Think about it. Somebody with millions can lock in 3.3% for ten years. And as more and more people dive in, the the yield would drop, your Bond or your principal investment would climb while sitting on them. Bond traders made a lot of money as rates were dropping since 1982.

Ten year Bond Chart back to 1982 shows a general CLIMB. The climb reflects falling rates. The dips or corrections reflect climbing rates. Re the zig sags. Up is down rates and down is up rates. So what would chart readers or bond traders say about this chart? The dip is a buying opportunity, or a long term rotation back down, re higher rates.  I report you decide.

I myself don’t think higher rates are going stop higher prices on important things in short supply like food or fuel that are constantly steadily used and needed. The Fed has to hope higher prices will encourage investment in higher production. But if I’m a producer, I’m already happy, why be greedy waste money and produce more?? Everything is too unstable and volatile.

The only benefit for higher rates would be to kill speculation on stocks and real estate bubbles. In the last cycle the speculation in the 1970s was Gold and Silver and collectibles everybody was dumping excess printed money.

untitled (mrci.com) ten year bond price.

It’s hard to tell who really runs the world. I’d guess it’s people who don’t have an allegiance to any country whatsoever. They are loyal to money and power and that’s about it.

Cheers

Do people borrow money like a car or house loan to buy them? Or will higher rates make people sell them to put money in the bank? I think the whole thing was just another thing for people to gamble (another slot machine at Vegas) and or a trick to absorb excess paper money AWAY from gold and silver. That they bashed for decades. The real money. Versus Fed Notes.

I read most of the story, and every time I read the word “Ukraine” I thought of Europe and global powers. The same groups that has had negative influence on the USA for decades. Ukraine and a bunch of other nations of land were always part of Russia. And it seems Europe wants them.

The old post WW II system ran its course, it bankrupted the USA and made visible in the summer of 2008. And more so with Covid and the need to print money en mass with a $30 trillion national debt and fingers crossed. LOL.

If the USA ever declared its independence, like it almost did with Trump, “they” or “who” would come after us? Would they call our new gov’t a leftist dictatorship? Like they have in the past when a country throws out the status quo leader? Because their economy tanked like Venezuela did when Oil tanked from $145/bbl to $28/bbl. Oil was their bread and butter.

Ukraine Bans Main Opposition Party, Seizes All Its Assets

Ukrainian authorities have banned the country’s main opposition party and seized all its assets, once again undermining the narrative that President Zelensky is presiding over a beacon of democracy.

https://www.zerohedge.com/geopolitical/ukraine-bans-main-opposition-party-seizes-all-its-assets

shares are doing pretty well relative to the metals. Problem is that the USD is down .5% and the metals are tame.

May 10 ; 70.125 Rubles/US$

earlier this morning ; 54.375 Rubles/US$

…and gasoline over $5/gallon . Around election time 2020 I could get over 2-1/2 gallons for $5 !

Where will Bitcoin bottom?

Zero (26%, 10 Votes)
Less than $1,000 (24%, 9 Votes)
$5,000 to $10,000 (18%, 7 Votes)
$10,000 to $15,000 (11%, 4 Votes)
$1,000 to $5,000 (11%, 4 Votes)
$15,000 to $19,000 (8%, 3 Votes)
Close to where it is right now (3%, 1 Votes)
Total Voters: 38