Just Saying
Desperation grows.
Once in motion as the saying goes it’s difficult to get out of that motion.
The Biden administration has been stumbling and fumbling since day one.
Dumb ideas seem to be a staple of this crew as they desperately struggle to avoid what now nearly everyone, including many Biden supporters and promoters, knows is coming with midterms.
If their fear, desperation and fear mongering gets any thicker one will need a chainsaw to cut it.
Falling off one’s bike can happen to anyone. As gas prices are predicted to roar higher once again over the Fourth of July holiday the midterms draw that much closer.
Former president Gerald Ford suffered similar pratfalls of sorts. A football player in college, he was accused by the press of playing too much football with his helmet off.
Biden likes to brag about his football days at Delaware, but that would be a typical Biden excuse. He’s been doing dumb shit for much of his career.
“First, on Monday, President Biden - who probably was not riding a bicycle at the time - said that he was considering seeking a gas tax holiday to ease high fuel prices: “I hope I have a decision based on the data I’m looking for by the end of the week,” the president told reporters in Delaware. Needless to say, even if Congress were to pass the needed legislation, the impact on gas prices would be minimal as the Federal gas tax is only 18.4 cents per gallon, and the bulk of taxation is at the state level.
“Second, and just when you thought it couldn't get any dumber, Janet Yellen (who together with Jay Powell, will soon be thrown under the hyperinflationay bus to take the fall for the economic devastation unleashed by the Biden admin) said talks are continuing on how the US and its allies "might cap the price of Russian oil exports, possibly through a plan that offers exceptions to the European ban on insuring Russian oil shipments."
“We are continuing to have productive conversations, today and with our partners and allies around the world with how to further restrict energy revenues to Russia while preventing spillover effects to the global economy,” Yellen said during a press conference in Toronto alongside Canadian Finance Minister Chrystia Freeland.
"We are talking about price caps or a price exception that would enhance and strengthen recent and proposed energy restrictions by Europe, the United States, the UK and others,” she said. Oil Price Caps.
“Word salad aside - because while most western countries have banned imports of Russian oil while the European Union has agreed to prohibit seaborne imports of Russian crude in six months, India and China are importing more Russian oil than ever and adding billions to Russia's treasury every single day, helping push the Russian ruble to the highest level in almost a decade - there is zero chance of any "price caps" being successfully implemented.
We know this because Italy, that most clueless of European sovereigns decided to also chime in.
“On Tuesday, Energy Minister Roberto Cingolani said that an Italian proposal to cap natural gas prices in Europe is gaining traction across the region as countries increasingly see it as the “only solution” to soaring costs. Italy has recommended that European Union member states put a limit on the price of gas imports from Russia to help curb inflation in the bloc, but nations including Germany have shown skepticism.
“Truly a brilliant idea... until we read the following quote making it clear just how "competent" Italy is in its comprehension of how the energy markets works: "Gas prices are rising not for a physical reason,” Cingolani said at a conference in Rome. “The price is rising just because someone somewhere from a keyboard has decided so.”
“There's more: Imposing a price cap “seems to be the only sustainable solution,” Cingolani said. Such a move would avoid the risk that “someone, waking up some morning, could put forward a crazy gas-price level.”
“Of course, we can only imagine that Cingolani wasn't around the last time price caps were attempted. Let's just say the outcome was.... suboptimal.”