BIDEN Just DID IT! As US Economy Is CRUMBLING & Putin & Saudi Arabia Arent Happy

President Joe Biden just made a major announcement to combat Russian President Putin, Saudi Arabia, & OPEC+ nations oil cut of 2 million barrels per day to raise the price of oil and gas on the US and nations around the world and to fund the war in Ukraine. This happens as the US Economy is suffering massively… 💥 Make Sure to watch this video all the way to the end for all the details, and let me know your thoughts in the comments! New Video Updates come out Every Day at 10am, 3pm, and 8pm EST / Eastern Standard Time. Make sure to click the Subscribe button below and then click the bell icon to “All Notifications” so you get reminder notifications for new videos! It’s FREE to Subscribe & this way you won’t miss out on new videos!

What’s going on guys it’s jimmy here welcome to our daily show where we discuss everything going on here in our country that you need to know about here on a daily basis we got multiple things that have just happened here uh that you gotta know about first we’ll start with president biden’s announcement uh which you might like you might not like it’s controversial

Um i’ll let you hear it directly from him and then we have several other things to talk about we got so much already going on here today already uh let’s jump right in and if you’re new to our channel or if you haven’t subscribed yet make sure to click the subscribe button down below then the bell icon i will keep you up to date here with everything going on here

In our country on a daily basis first we’ll go directly to the president president biden who uh made an announcement to try to combat what uh russia and saudi arabia and opec plus their recent announcement where they have announced a cut to oil production of two million barrels per day to raise oil prices and gas prices as if they’re not high enough this is what

They’ve announced here recently just a few days ago so that us and the world will pay higher oil prices here’s what he has to say take a listen good afternoon earlier this year because of putin’s invasion of ukraine the price of oil and gas increased dramatically and i acted decisive at the time and thanks in part to those actions and the price of our gas has fallen

To 30 percent from the summer highs now it’s down about a dollar and fifteen cents a gallon from their peak during the summer and gas prices have fallen every day in the last week let me repeat gas prices come down and they continue to come down again they’re now down more than 27 cents a gallon in wisconsin this past week 27 cents in oregon 16 cents in ohio 25

Cents in nevada 17 cents in in uh in indiana in just the last 10 days and that’s progress but they’re not falling fast enough families are hurting you’ve heard me say it before but i get it i come from a family if the price of gasoline went up at the gas station we felt it gas prices in almost every family in this country and they squeeze their family budgets when

The price of gas goes up other expenses get cut that’s why i have been doing everything in my power to reduce gas prices since putin’s invasion of ukraine caused these price hikes these prices to spike and rattle international oil markets excuse me i focused on how we can protect american families from that spike and give folks just a little bit of breathing room

As my dad would say today i’m announcing three critical steps that my administration will take to reduce gas prices at the pump first the department of energy released another 15 million barrels from the strategic petroleum reserve extending our previously announced release through the month of december independent analysis it’s going to be independent analysts

Have confirmed that drawdowns from the reserve so far have played a big role in bringing down oil prices bringing them down so we’re going to continue to responsibly use that national asset right now the strategic pulmonary strategic petroleum reserve is more than half full with about 400 million barrels of oil that’s more than enough for any emergency drawdown

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With my announcement today we’re going to continue to stabilize markets and decrease the prices at a time when the actions of other countries have caused such volatility and i’ve told my team behind me here to be prepared to look further look for further releases of the months have had if needed we’re calling it a ready and release plan this allows us to move

Quickly to prevent oil price spikes and respond to international events secondly we need to responsibly increase american oil production without delaying or deferring our transition to clean energy let me let’s debunk some myths here my administration has not stopped or slowed u.s oil production quite the opposite we’re producing 12 million barrels of oil per day

And by the end of this year we will be producing one million barrels a day more than the day in which i took office in fact we’re on track for record oil production in 2023 and today the united states is the largest producer of oil and petroleum products in the world we export more that we import and i still heard from oral come and i’ve heard from oil companies

That they’re worried that investing in additional oil production today will will in case of the in case demand goes down in the future and they’re not going to be able to sell their oil products at a competitive price later well we have a solution for that today i’m announcing a plan to refill this tutorial the strategic petroleum oil reserve in the years ahead

At a profit for taxpayers the united states government’s going to purchase oil to refill the strategic petroleum reserve when prices fall to 70 dollars a barrel and that means oil companies can invest to wrap up production now with confidence they’ll be able to sell their oil to us at that price in the future seventy dollars refining and refilling the reserve at

Seventy dollars a barrel is a good price for companies and it’s a good price for the taxpayers and it’s critical to our national security to put in context since march the average price of oil has been more than ninety dollars a barrel the highest since 2014. by selling from the strategic petroleum reserve at the higher price of ninety dollars earlier this year and

Then refilling it in the future at a lower price around seventy dollars will actually make money for the taxpayers lower the price of gas and help bolster production all while totally consistent with my commitment to accelerate the transition to clean energy so what are your thoughts on this president biden says that they’re producing a million barrels more per day

Than when he came into office also what are your thoughts on releasing more barrels from the strategic oil reserves do you think this is a good move or a bad move um everybody has a slightly different opinion on this um is it a tool that should be used to help lower the price of gas for millions of americans when the price of gas goes high to help relief relieve

The pressure of gas prices you can see here gas prices were going down uh for just short of a hundred days it was 99 days you can see right here from the new york times uh so gas prices were going down for about 99 days uh and then they stopped and then we had opec plus saudi arabia and russia teaming up as you can see here agreed to massive cuts of oil output two

Million barrels per day through the opec plus nations to basically make the price of oil more expensive so that they can make more money per barrel and you know the whole supply and demand thing so yeah it’s getting hot and it just creates even more tension uh between the world and russia and us and russia if you watch my previous video you need to go watch that

As well with what just happened between uh russian bombers and alaska and russian hackers hacking the united states definitely go watch that i’ll link you to that video here after that also as inflation around the world is soaring remember the u.s uh inflation around eight percent uh the the social security rates is going to be 8.7 uh and the most recent core cpi

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For the us just came in at 8.2 percent here in the united states but if you’ve been watching my channel or if you follow what’s going on in the world you know here that it’s not just the us it’s pretty much everywhere in the world and well the united kingdom that’s this is happening everywhere canada europe the united kingdom well the united kingdom’s inflation

Reading just rose to 10.1 from 9.9 percent the month before 10 you thought our inflation was high that 8.2 percent their 10 percent and this here today caused the uk prime minister to resign the second prime minister there in less than two months to resign that’s right this new prime minister was only in office for 44 days making her the shortest serving prime

Minister in british british history unbelievable yeah so uh yeah things are not going well pretty much everywhere imagine having a new basically president in the uk for only 44 days and this comes after the queen we know passed away god bless her things are looking kind of rough just to kind of give you another quick glance here in turkey their inflation is at

83 percent not 8.3 percent not 10 percent 83 percent and what did they do they decided to cut interest rates by 1.5 percent to i guess basically try something new instead of raising interest rates they decided to cut interest rates because either they have no idea what they’re doing at all or they have just given up hope or they’re just gonna try something new

And hope for the best yeah you think inflation’s bad here at eight percent imagine if it was 80 percent i know it might feel like 80 percent here i get it but eight percent and eighty percent is literally a completely different stratosphere unbelievable by the way their dollar the turkish lira touched an all-time low it’s down 50 percent against the greenback in

The last full year so just to kind of give you an idea of how bad it is in other countries around the world the type of stuff is happening everywhere and uh they’re turkish presidents uh doesn’t believe that raising interest rates increases inflation rather than the other way around i uh how is that working for him so far with the 83 inflation yeah it’s uh not

Not going too well there and the fed the federal reserve raising interest rates to combat inflation here in the u.s which central banks all around the world well except for turkey which has 83 percent inflation uh are doing they’re raising interest rates all around the world in canada pretty much everywhere all of europe uh it’s a tried and true proven strategy

To lower inflation i mean in in the housing market for example they’ve raised interest they’ve raised interest rates you know in the u.s and uh you know now we’ve seen you know in the housing market it was a really over inflated market if you had a home for sale for 300 000 homes were going for sale and on the very first day you were getting like 20 bidders and

They were the homes were selling for 350 000 okay an over inflated market it wasn’t normal um how it got that way and so it’s a whole another story um but that was an overheated and over inflated market now home prices have come down now you can actually get it at asking price we’re actually below asking price because the interest rates have gone up so the prices

Have come down but we’re seeing a massive housing recession now what the fed said a great reset um u.s mortgage rates reached 20-year high already and interest rates are going to go up again in november and next year you can see here mortgage demand drops to a 25 year low as interest rates climb 25 year low wharton professor jeremy siegel warns that home prices are

About to suffer their second worst crash since world war ii amid fed rate hikes and you can let me know your thoughts on this in the comments you think this is good you think this was needed do you think this is bad do you think that home prices should have stayed as high as they were which was for a lot of people unaffordable or do you think this type of housing

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Reset the great reset uh in one aspect was some people were saying was this needed was this a good thing was this a bad thing problem is is that interest rates are are affecting at people in everywhere because it’s also costing you more in your credit card interest here’s what warden professor jeremy siegel has to say hey what what are the real implications let’s

Just game this out if they go ahead and raise 150 basis points in the next two months what does that do because you think they’ve already risen too much and and yeah no i think that there i i would i would call for i mean 15 now and then a stop and i wouldn’t even mind a stop because i think if they wait they will see how inflation’s come down i mean everything

That’s sensitive and the goods prices has come down as it should first and the services come down later but i would i could i could say another five i worry about this idea that we’re going to stay in the high fours as fed fund’s futures as power you know higher for longer that worries me the most i i think they’re going to have to bring the rate down a lot during

2023 and i think the talk of that’s what’s scaring the market higher for longer because the market does see these higher rates are going to pinch and they’re pinching the interest sensitive uh parts of our economy already i think we’re going to have the second biggest housing price decline of post-world war ii period over the next 12 months um and i mean that’s a

Very very significant uh factor for for for wealth for equity and the housing market so i think that they’ve they’ve got to slow down and wait and see what the heightening has already wrought on the economy so in a way he’s kind of right i mean mortgage demand has already dropped to a 25 year low here and mortgage rates are already at a 20-year high that quickly

That quickly and i just looked it up here about credit card interest rates the first article i came about upon credit card interest rates hit a 26 year high and are about to go higher and then i seen the date that was as of september 21st and i was like okay let me do a little bit more research so as of september 21st credit card interest rates had hit a 26

Year high then i noticed here that credit card interest rates had reached an all-time high and this was as of october 6th october 6th the average annual credit card percentage rate interest rate was 18.8 79 basically 18.8 percent and are going to continue to go up higher because the fed is going to raise interest rates again and maybe even again again and

Again yeah the app really rough so let me know your thoughts on this we’ll definitely i just literally uh found this information right now we’ll have to touch base on this in an upcoming episode and what this will need so make sure to subscribe down below in uh to our youtube channel click the subscribe button then the bell icon as it’s completely free to do so

New videos come out here every day at 10 a.m 3 p.m and 8 p.m eastern standard time and i will keep you up to date here with everything you need to know about you can click here to watch my new video on what russia just did uh near alaska and hacking the us really good video there and here is my newest video about millions of people getting checks that you might

Not even know about so click on one of those videos next thanks for watching guys and i will see you in the next video

Transcribed from video
BIDEN Just DID IT! As US Economy Is CRUMBLING & Putin & Saudi Arabia Aren't Happy By its Jimmy