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"Their debt is not an issue for them, but it is for those holding it. They are already in downward spiral, and global events are going to make it worse. Oil will not get cheaper and demand will drop in the future and that will be a big problem for the world's largest, producer, importer and exporter of oil. As the globe works to reduce its dependancy on oil, it appears the US is not." Quite a few countries aren’t interested net zero and will continue to burn fossil fuels. If the green levy’s and massive taxes were taken off natural gas, energy would be dirt cheap | |||
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"Their debt is not an issue for them, but it is for those holding it. They are already in downward spiral, and global events are going to make it worse. Oil will not get cheaper and demand will drop in the future and that will be a big problem for the world's largest, producer, importer and exporter of oil. As the globe works to reduce its dependancy on oil, it appears the US is not. Quite a few countries aren’t interested net zero and will continue to burn fossil fuels. If the green levy’s and massive taxes were taken off natural gas, energy would be dirt cheap " That "MASSIVE" tax on natural gas is 5%. | |||
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"Their debt is not an issue for them, but it is for those holding it. They are already in downward spiral, and global events are going to make it worse. Oil will not get cheaper and demand will drop in the future and that will be a big problem for the world's largest, producer, importer and exporter of oil. As the globe works to reduce its dependancy on oil, it appears the US is not. Quite a few countries aren’t interested net zero and will continue to burn fossil fuels. If the green levy’s and massive taxes were taken off natural gas, energy would be dirt cheap That "MASSIVE" tax on natural gas is 5%. " That's part of the story. It's 5% plus another 5% VAT, talking just natural gas to households, and over twice that to businesses. However, electricity generated by natural gas is significantly more - there are many upstream taxes before this hits the consumer. Crucially, because of how the UK energy market works, the most expensive form of energy needed to meet grid demand sets the price for ALL electricity. Since gas power is almost always needed to meet UK demand, these "hidden" generator taxes dictate the wholesale price of electricity across the board—meaning consumers effectively pay the "gas generation tax" even when the wind is blowing and generating cheap, renewable power. | |||
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"Their debt is not an issue for them, but it is for those holding it. They are already in downward spiral, and global events are going to make it worse. Oil will not get cheaper and demand will drop in the future and that will be a big problem for the world's largest, producer, importer and exporter of oil. As the globe works to reduce its dependancy on oil, it appears the US is not. Quite a few countries aren’t interested net zero and will continue to burn fossil fuels. If the green levy’s and massive taxes were taken off natural gas, energy would be dirt cheap That "MASSIVE" tax on natural gas is 5%. That's part of the story. It's 5% plus another 5% VAT, talking just natural gas to households, and over twice that to businesses. However, electricity generated by natural gas is significantly more - there are many upstream taxes before this hits the consumer. Crucially, because of how the UK energy market works, the most expensive form of energy needed to meet grid demand sets the price for ALL electricity. Since gas power is almost always needed to meet UK demand, these "hidden" generator taxes dictate the wholesale price of electricity across the board—meaning consumers effectively pay the "gas generation tax" even when the wind is blowing and generating cheap, renewable power. " Except the taxes aren't especially hidden and they don't "dictate the price" - those are mainly set by the cost of the fuel and the cost of operating the generators. I'll agree that there is an irony in consumers spending over the odds for 100% renewable power and still seeing prices affected by global oil crises | |||
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"Their debt is not an issue for them, but it is for those holding it. They are already in downward spiral, and global events are going to make it worse. Oil will not get cheaper and demand will drop in the future and that will be a big problem for the world's largest, producer, importer and exporter of oil. As the globe works to reduce its dependancy on oil, it appears the US is not. Quite a few countries aren’t interested net zero and will continue to burn fossil fuels. If the green levy’s and massive taxes were taken off natural gas, energy would be dirt cheap That "MASSIVE" tax on natural gas is 5%. That's part of the story. It's 5% plus another 5% VAT, talking just natural gas to households, and over twice that to businesses. However, electricity generated by natural gas is significantly more - there are many upstream taxes before this hits the consumer. Crucially, because of how the UK energy market works, the most expensive form of energy needed to meet grid demand sets the price for ALL electricity. Since gas power is almost always needed to meet UK demand, these "hidden" generator taxes dictate the wholesale price of electricity across the board—meaning consumers effectively pay the "gas generation tax" even when the wind is blowing and generating cheap, renewable power. Except the taxes aren't especially hidden and they don't "dictate the price" - those are mainly set by the cost of the fuel and the cost of operating the generators. I'll agree that there is an irony in consumers spending over the odds for 100% renewable power and still seeing prices affected by global oil crises " Perhaps. But the cost of (gas) taxation on energy is significantly more than, and more complex than, 5%. | |||
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"Their debt is not an issue for them, but it is for those holding it. They are already in downward spiral, and global events are going to make it worse. Oil will not get cheaper and demand will drop in the future and that will be a big problem for the world's largest, producer, importer and exporter of oil. As the globe works to reduce its dependancy on oil, it appears the US is not. Quite a few countries aren’t interested net zero and will continue to burn fossil fuels. If the green levy’s and massive taxes were taken off natural gas, energy would be dirt cheap That "MASSIVE" tax on natural gas is 5%. That's part of the story. It's 5% plus another 5% VAT, talking just natural gas to households, and over twice that to businesses. However, electricity generated by natural gas is significantly more - there are many upstream taxes before this hits the consumer. Crucially, because of how the UK energy market works, the most expensive form of energy needed to meet grid demand sets the price for ALL electricity. Since gas power is almost always needed to meet UK demand, these "hidden" generator taxes dictate the wholesale price of electricity across the board—meaning consumers effectively pay the "gas generation tax" even when the wind is blowing and generating cheap, renewable power. Except the taxes aren't especially hidden and they don't "dictate the price" - those are mainly set by the cost of the fuel and the cost of operating the generators. I'll agree that there is an irony in consumers spending over the odds for 100% renewable power and still seeing prices affected by global oil crises Perhaps. But the cost of (gas) taxation on energy is significantly more than, and more complex than, 5%." Indeed, and it only takes a few minutes to see the scale of the many taxes and levys affecting UK gas prices. | |||
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"$40 Trillion in debt and still spending like a d*unken narcissist...They are almost in a death spiral it only takes them to lose the goodwill of trading partners......lol surely being that far in debt would give you a little humility but then again maybe not" The problem is and here's the biggie if the US economy tank's and goes into recession then it'll cause a global recession and bring the rest of us into their crap. But Trump and his super rich buddies don't care they will be sunning it up on private islands drinking cocktails and ...well we know what the super rich get up to and away with on private islands don't we  | |||
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"In respect of the USA’s economy & debt, we’re talking about a situation that has been decades in the making, successive Democrat and Republican governments have been happy to go along with it, nobody was willing to do the necessary 'hard medicine' which was to cut government spending, not print money and raise interest rates above inflation and to mandate into law balanced budgets as well as other things like raising retirement age, because these actions would have been very unpopular. It was much easier to print money and artificially pump the stock market up so that your party looks good whether Democrat or Republican, so thats what they've done. They could get away with it because being the worlds reserve currency allowed them to sell their debt to foreign nations, basically the rules of finance that apply to all other countries don’t apply to the USA. However, the world is slowly waking up to this, for instance the BRICS nations are in the process of building their own dollar free financial system. If the USA no longer has the global reserve currency, they are going to have to either pay down their debt or face total collapse of their dollar. Now unless there is some genius way of getting the USA out of this pickle, that I dont know about then I just cannot see how the worst doesn’t happen at some point. The only thing I dont know is the exact timeline but it does look like Tango is going to accelerate this process with his reckless tariffs, wars in Iran etc that will only serve to hasten the flight from the dollar. Eventually, after the dollar crashes the USA might actually end up doing well again, because they'll have no choice but to build an economy based on sound money and thats not based on debt and money printing. " He's already applied for an extra half a trillion is defense budget increase. | |||
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"In respect of the USA’s economy & debt, we’re talking about a situation that has been decades in the making, successive Democrat and Republican governments have been happy to go along with it, nobody was willing to do the necessary 'hard medicine' which was to cut government spending, not print money and raise interest rates above inflation and to mandate into law balanced budgets as well as other things like raising retirement age, because these actions would have been very unpopular. It was much easier to print money and artificially pump the stock market up so that your party looks good whether Democrat or Republican, so thats what they've done. They could get away with it because being the worlds reserve currency allowed them to sell their debt to foreign nations, basically the rules of finance that apply to all other countries don’t apply to the USA. However, the world is slowly waking up to this, for instance the BRICS nations are in the process of building their own dollar free financial system. If the USA no longer has the global reserve currency, they are going to have to either pay down their debt or face total collapse of their dollar. Now unless there is some genius way of getting the USA out of this pickle, that I dont know about then I just cannot see how the worst doesn’t happen at some point. The only thing I dont know is the exact timeline but it does look like Tango is going to accelerate this process with his reckless tariffs, wars in Iran etc that will only serve to hasten the flight from the dollar. Eventually, after the dollar crashes the USA might actually end up doing well again, because they'll have no choice but to build an economy based on sound money and thats not based on debt and money printing. He's already applied for an extra half a trillion is defense budget increase. " Well that’s the prevailing mentality of the US establishment & MIC. Dominate the rest of the world militarily, then you can use it for Big Stick diplomacy to extract gains. Trump is just bring more blatant about this than most US presidents. That US debt clock keeps ticking up though & they’re not exactly making friends at the moment. Like a toddler having a tantrum before having to confront reality & take their medicine. | |||
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