Wow, It's Gonna Get Worse Before It Gets Better -- Get Out The Popcorn -- Let's Go, Brandon -- November 10, 2021

Time to get out the popcorn:

• watching nightly news and Americans complaining about the high cost of gasoline
• being told that the US has doubled its oil imports from Russia
• imports of crude oil;
• from Russia, with love;
• during the Trump administration: 15 million bbls of crude oil from Russia per month;
• during the Biden administration: 25 million bbls of crude oil from Russia per month;
• Trump: approved oil from Canada via a huge, new pipeline which would have been completed by now;
• Biden: stopped oil from Canada via that huge, new pipeline which would have been completed by now;

CNBC noted the jump in Russian crude oil imports under Brandon.

Let's go, Brandon.

The good news: price of WTI plummeted 3% today.

The bad news: WTI is still above $80.

What does the surging price of gasoline have in common with inflation?

They are both transitory.

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But It's Only Inflationary If You Actually Buy It

My gasoline use and cost over the last few months in my 2012 Honda Civic.

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Back in the USSR

Back in the USSR, The Beatles