Biden’s economy

[Anonymous]

This aged like fine milk….guess conservatives were right once again

[Anonymous]

[url=https://ibb.co/THpMDY5]

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Yes. The ignorance of people saying the solution to inflation is public assistance is stunning. It is a safety net, not a subsidy to enable the government to mismanage the economy. The 25th may need to happen. Or impeach the guy. Not sure Kamala can be worse.

Change the channel. Jobs are up. Wages are up. Profits are up. The period of mass dependence on public assistance was 2020 under your moronic hero.

Inflation is like alcoholism: It feels good at first, but eventually there's a hangover.

So talk about inflation, but stop lying about every other part of the economy. People are not more dependent on government aid than 2 years ago, unemployment rate is extraordinarily low, workers are getting better and higher paying jobs, the budget deficit is way down. Yes, inflation is a major global problem. Every other complaint is a lie.

umm... 80% of all US dollars in existence were printed in the last 22 months

That’s not true. What happened is the regulatory definition of the money supply (M1) changed in April 2020 to include savings accounts. That’s not new money, it’s money that had not counted as liquid that is now counted as liquid. That made M1 jump from $5 Trillion to $16 Trillion in one month, but it was an accounting change, not $11 Trillion in new money.

https://fredblog.stlouisfed.org/2021/05/savings-are-now-more-liquid-and-part-of-m1-money/?utm_source=series_page&utm_medium=related_content&utm_term=related_resources&utm_campaign=fredblog

Before April 24, 2020, savings accounts were not part of M1. Limitations in the number of transfers from savings deposits made savings accounts less liquid than M1. M1 consisted of currency, demand deposits, and other highly liquid accounts called “other checkable deposits” (OCDs). An example of OCDs are the demand deposits at thrifts.

But the limitation on the number of these transfers was lifted on April 24 as an amendment to Regulation D, which specifies how banks must classify deposit accounts. Savings deposits are now just as liquid and convenient as currency, demand deposits, and OCDs. To reflect this fact, savings deposits are now included in M1.

As of May 2020, the old M1 would have had a value of around $5 trillion. The new M1 has a value of $16 trillion, a substantial increase and a clear break in the time series.

You omitted the last half of the description in your link:

On the other hand, it’s not immediately clear what advantage there is from the bank’s perspective in relabeling savings accounts as transactions balances. In any case, it seems that the modification of Regulation D in late April has effectively rendered savings accounts almost indistinguishable from checking accounts from the perspective of depositors and banks. Accordingly, the composition of M2 between M1 and non-M1 components conveys little economic information.

[Anonymous]

Anonymous wrote:

This aged like fine milk….guess conservatives were right once again

or maybe they engineered it. All those f**kers have links to gas and oil.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

This aged like fine milk….guess conservatives were right once again

or maybe they engineered it. All those f**kers have links to gas and oil.

+1000
What earthly reasons could cons have to see Biden succeed?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

This aged like fine milk….guess conservatives were right once again

or maybe they engineered it. All those f**kers have links to gas and oil.

Yes, they used mind control over Biden to restrict domestic oil production. So sophisticated!

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

This aged like fine milk….guess conservatives were right once again

or maybe they engineered it. All those f**kers have links to gas and oil.

+1000
What earthly reasons could cons have to see Biden succeed?

+2000

Oh, wow. The GOP’s intimate ties to oil and gas bearing fruit and profit for those same companies to pour back into the seditionist GOP coffers? Wow, who could ever have envisaged such an event.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

This aged like fine milk….guess conservatives were right once again

or maybe they engineered it. All those f**kers have links to gas and oil.

+1000
What earthly reasons could cons have to see Biden succeed?

+2000

Oh, wow. The GOP’s intimate ties to oil and gas bearing fruit and profit for those same companies to pour back into the seditionist GOP coffers? Wow, who could ever have envisaged such an event.

Yeah. The GOP is so diabolical. They convinced Biden to run on a platform of ending fossil fuels, convinced him to shut down drilling permits and heavily tax oil production. They told him he must shut down the Keystone pipeline and that he must have his Land Management bureau slow walk permits for transporting oil.
They really did a number on poor Joe.

[Anonymous]

I thought it was importable to get a president who was dumber and less effective than Trump and yet here we are. Unbelievable.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

This aged like fine milk….guess conservatives were right once again

or maybe they engineered it. All those f**kers have links to gas and oil.

Yes, they used mind control over Biden to restrict domestic oil production. So sophisticated!

No one has restricted domestic oil production. You are delusional.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

This aged like fine milk….guess conservatives were right once again

or maybe they engineered it. All those f**kers have links to gas and oil.

+1000
What earthly reasons could cons have to see Biden succeed?

+2000

Oh, wow. The GOP’s intimate ties to oil and gas bearing fruit and profit for those same companies to pour back into the seditionist GOP coffers? Wow, who could ever have envisaged such an event.

Yeah. The GOP is so diabolical. They convinced Biden to run on a platform of ending fossil fuels, convinced him to shut down drilling permits and heavily tax oil production. They told him he must shut down the Keystone pipeline and that he must have his Land Management bureau slow walk permits for transporting oil.
They really did a number on poor Joe.

That didn’t happen. Domestic production is up. That isn’t what raised prices.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

This aged like fine milk….guess conservatives were right once again

or maybe they engineered it. All those f**kers have links to gas and oil.

Yes, they used mind control over Biden to restrict domestic oil production. So sophisticated!

No one has restricted domestic oil production. You are delusional.

https://www.cnbc.com/2022/02/24/biden-administration-pausing-new-oil-and-gas-leases-amid-legal-battle-.html
https://www.usnews.com/news/politics/articles/2022-05-12/biden-cancels-offshore-oil-lease-sales-in-gulf-coast-alaska
https://www.hydesmith.senate.gov/hyde-smith-says-administration-slow-walking-offshore-energy-imperiling-production-outlook
https://denvergazette.com/news/interior-sets-up-new-hurdle-for-oil-and-gas-leasing-with-emissions-review/article_0a1d0998-1979-5cc1-b908-8abecc729340.html
https://www.npr.org/2021/11/26/1059398764/biden-calls-for-higher-fees-for-oil-gas-leasing-on-federal-land-stops-short-of-b

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

This aged like fine milk….guess conservatives were right once again

or maybe they engineered it. All those f**kers have links to gas and oil.

+1000
What earthly reasons could cons have to see Biden succeed?

+2000

Oh, wow. The GOP’s intimate ties to oil and gas bearing fruit and profit for those same companies to pour back into the seditionist GOP coffers? Wow, who could ever have envisaged such an event.

Yeah. The GOP is so diabolical. They convinced Biden to run on a platform of ending fossil fuels, convinced him to shut down drilling permits and heavily tax oil production. They told him he must shut down the Keystone pipeline and that he must have his Land Management bureau slow walk permits for transporting oil.
They really did a number on poor Joe.

That didn’t happen. Domestic production is up. That isn’t what raised prices.

+1
It’s price gouging by the oil companies and the GOP is loving this. Meanwhile, women will cease to have rights this week when the GOP-installed religious tribunal sweeps their rights away.

[Anonymous]

This isn't all Biden's fault, but he hasn't been doing himself any favors. For one, Biden kept trying to explain away inflation and now is in a position where he has to backtrack. This makes it seem like he doesn't know what he's doing.

It also doesn't help that progressives are constantly vocal on equity issues - race, gender, immigration, LGBTQ+ - making it seem like the administration is distracted by representation issues at a time when people can't afford/find gas, air travel, rent, and baby formula.

[Anonymous]

Sleepy Joe.
They say he’s charging you $19 dollahs for a gallon of gasoline.
Can ya believe that?
$23 dollahs for a gallon of gas.

He’s trying to take your Eh-mare-ih-can Dream,
Your precious Eh-mare-ih-can Dreams,
And take them away from you.
And it’s a disgrace. A complete disgrace.