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  • 2 weeks later...

On 11/21/2022 at 9:11 AM, BigRedBuster said:

Hmmm....oil is down roughly 5% today.

 

Diesel is down almost 4%.

 

Gas is down almost 3.5%.

 

$2.70 the other day. I did a double take. We also released oil from the reserve right before the election and now that the election is over Saudi is probably going to behave normally.

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15 minutes ago, nic said:

$2.70 the other day. I did a double take. We also released oil from the reserve right before the election and now that the election is over Saudi is probably going to behave normally.

Yep....OPEC is going to play the game of, prices going down, lower production.

 

Meanwhile, under Biden, US production is almost back up to pre pandemic levels and continues to climb.  The active rig count in the US remains about pre pandemic level also.  So, production should continue to inch up.

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  • 4 weeks later...
  • 3 weeks later...

This is related to banking and shysters, not the economy.

But this story is pretty crazy. JPMorgan Chase paid for a company that claimed to help students figure out their federal student loan crap. But if you just read some of this article you can see that a simple investigation would have told Chase the founder was full of s#!t, and it turns out most of the names in the company's database were completely fabricated. I am fascinated that Chase didn't find this before buying it, although I know $175 million is peanuts to them. The other fascinating part to me is how these frauds can live with themselves, and do interviews about all the good they're doing and it's all made up.

JPMorgan Paid $175 Million for a Business It Now Says Was a Scam - The New York Times (nytimes.com)

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3 hours ago, Moiraine said:

This is related to banking and shysters, not the economy.

But this story is pretty crazy. JPMorgan Chase paid for a company that claimed to help students figure out their federal student loan crap. But if you just read some of this article you can see that a simple investigation would have told Chase the founder was full of s#!t, and it turns out most of the names in the company's database were completely fabricated. I am fascinated that Chase didn't find this before buying it, although I know $175 million is peanuts to them. The other fascinating part to me is how these frauds can live with themselves, and do interviews about all the good they're doing and it's all made up.

JPMorgan Paid $175 Million for a Business It Now Says Was a Scam - The New York Times (nytimes.com)

Agree.  I’m shocked this couldn’t have been found out during due diligence.  Usually a purchasing company examines things so close they know when each employee takes a crap. 

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