Assessing the Carnage

[Koolau]

Um, didn't sound right to me. So it turns out that 92% of that is hand waving where no one "received" anything, according to the source: https://www.imf.org/en/Publications...ountry-Update-of-Fossil-Fuel-Subsidies-466004

If my math is correct (and I wouldn't bet much on that) the so-called subsidies would amount to more than the cost of oil ($168/bbl in subsidies by my math.) YMMV as may your math.

 

[pb4uski]

"Fossil Fuels Received $5.9 Trillion In Subsidies in 2020, Report Finds....

Yup. Definitely BS in that 2020 total expenditures were $6.552 trillion.

 

[24601NoMore]

Yup. Definitely BS in that 2020 total expenditures were $6.552 trillion.

I actually skimmed the IMF report..

Key word.."IMPLICIT subsidies" due to social impacts and other fictitious, make believe, foofy intangibles.

In other words, "big oil" DID NOT **get** $5T+ in actual CASH subsidies.

Sigh...

 

[Koolau]

I actually skimmed the IMF report..

Key word.."IMPLICIT subsidies" due to social impacts and other fictitious, make believe, foofy intangibles.

In other words, "big oil" DID NOT **get** $5T+ in actual CASH subsidies.

Sigh...

Yeah, but in some circles you can pull off the $5T story. Just throw it out and someone will buy it. Not so much here on the FIRE forum. We take everything with a grain or two of salt.

When someone throws out a figure virtually the same size as the entire USA budget for FY 2022, my BS detector goes off but YMMV.

 

[latexman]

Measuring the bleeding I came up with the following:

Year to date, down 15%.

From my all time high, down 20%.

According to Fido, my 401k (60/40) as of 5/31/2022 has a -12.36% Rate of Return. I'm still contributing and there were no withdrawals.

 

[Chuckanut]

Yeah, but in some circles you can pull off the $5T story. Just throw it out and someone will buy it. Not so much here on the FIRE forum. We take everything with a grain or two of salt.

When someone throws out a figure virtually the same size as the entire USA budget for FY 2022, my BS detector goes off but YMMV.

Reporters and talking heads who pontificate various subjects have a hard time with math. Remember the time certain talking heads told us that Mr. Bloomberg spent enough on his Presidential campaign to give every American One Million Dollars? It actually worked out to about $1.60. I would bet dollars to doughnuts that some tech who worked behind the scenes caught that error, not the people in front of the camera.

Back to the carnage, I have been trying out barrels to replace my tattered wardrobe that I had to sell to buy food.

To show that a character is in such dire financial straits that he's literally "lost his shirt", the otherwise-naked character will resort to wearing a large barrel◊ usually held up by suspenders. This trope is primarily seen in cartoons.

 

[Silver]

Back to the carnage, I have been trying out barrels to replace my tattered wardrobe that I had to sell to buy food.

This thread is useless without pics.

 

[Chuckanut]

This thread is useless without pics.

You did ask.

 

[Bigdawg]

You did ask.

Those barrels are fairly expensive. Who can afford those?

https://www.ebay.com/itm/3246877325...lid=20006&customid=4582283442931568_377866511

 

[copyright1997reloaded]

Those barrels are fairly expensive. Who can afford those?

https://www.ebay.com/itm/3246877325...lid=20006&customid=4582283442931568_377866511

About 10 years or so ago people discovered "barrel aged" beer and other beverages, causing the prices of these to rise.

 

[Silver]

You did ask.

I'm just happy that you could afford a hat in the last two pictures. Things must be looking up.

 

[aja8888]

I'm just happy that you could afford a hat in the last two pictures.

He' a little on the thin side. Maybe he can get off the Keto diet for a while?

 

[NW-Bound]

To show that a character is in such dire financial straits that he's literally "lost his shirt", the otherwise-naked character will resort to wearing a large barrel◊ usually held up by suspenders. This trope is primarily seen in cartoons.

I remember in my youth seeing cartoons showing people wearing a barrel. A bit of reflection reminded me that it could have been a Lucky Luke cartoon.

And in the past, a barrel was indeed used as a device of restraint. A Floridian 19-year-old inmate named Arthur Maillefert was put in such a barrel and was choked to death in 1932. This was after several escapes after which he was recaptured.

The warden was found guilty of first-degree murder, and sentenced to 20 years of hard labor.

This infamous case was the inspiration for the movie "Cool Hand Luke" starring Paul Newman.