Biden’s economy

[Anonymous]

Anonymous wrote:Biden needs to remove the Russian-generated instability from the equation. Ukrainian economy needs to be stabilized and re-opened, the Black Sea shipping lanes need to be reopened.

That happens when Russia is forced to submit and go home. Russia needs to gets flattened in Eastern Ukraine ASAP.

Gosh, I’m sure that was so easy to type from the comfort of your home.

[Anonymous]

Our economy will be a mess until 2030 due to boomer retirement and the world deglobalizing. No President can fix it! It’s just a painful process.

[Anonymous]

Anonymous wrote:Our economy will be a mess until 2030 due to boomer retirement and the world deglobalizing. No President can fix it! It’s just a painful process.

Boomer retirements are inherently inflationary. Their retirements contribute to the labor shortage in this country. Further, Boomers who were recently paid well were mostly just banking their money in savings and brokerage accounts. But now younger employees moving up the pay scale are spending the money, rather than just sinking it into a financial institution.

We are now making a lot more than two years ago because we've moved up the food chain in our jobs. We desperately need to renovate our house, want to have another kid, etc. Unlike the empty-nest Boomers, we are going to spend our new higher salaries. This is all inflationary.

[Anonymous]

Uh oh. According to the Atlanta Fed's GDPNow model estimate for real GDP, growth in the second quarter of 2022 has been cut to just 0.0%, down from +0.9% on June 6, down from 1.3% on June 1, and down from 1.9% on May 27.

https://www.atlantafed.org/cqer/research/gdpnow.aspx

[Anonymous]

Anonymous wrote:Uh oh. According to the Atlanta Fed's GDPNow model estimate for real GDP, growth in the second quarter of 2022 has been cut to just 0.0%, down from +0.9% on June 6, down from 1.3% on June 1, and down from 1.9% on May 27.

https://www.atlantafed.org/cqer/research/gdpnow.aspx

We have a labor shortage. This is going to be a painful process. Remember this pain when you complain about immigrants. If it weren’t for immigrants, we would be in worse shape!

[Anonymous]

Anonymous wrote:

Anonymous wrote:Our economy will be a mess until 2030 due to boomer retirement and the world deglobalizing. No President can fix it! It’s just a painful process.

Boomer retirements are inherently inflationary. Their retirements contribute to the labor shortage in this country. Further, Boomers who were recently paid well were mostly just banking their money in savings and brokerage accounts. But now younger employees moving up the pay scale are spending the money, rather than just sinking it into a financial institution.

We are now making a lot more than two years ago because we've moved up the food chain in our jobs. We desperately need to renovate our house, want to have another kid, etc. Unlike the empty-nest Boomers, we are going to spend our new higher salaries. This is all inflationary.

Exactly and now add the current problems with supply chains and endless lockdowns in China. It’s going to be rough for a while the boomers exit and die off.

[Anonymous]

Thanks to Bidenomics Ohio is become less safe
https://nypost.com/2022/06/15/ohio-police-department-cuts-back-on-patrols-due-to-gas-prices/amp/

Police departments are cutting back on patrols due to high gas prices.

[Anonymous]

Anonymous wrote:Thanks to Bidenomics Ohio is become less safe
https://nypost.com/2022/06/15/ohio-police-department-cuts-back-on-patrols-due-to-gas-prices/amp/

Police departments are cutting back on patrols due to high gas prices.

Maybe South Zanesville, Ohio shouldn't've voted to defund their police.

[Anonymous]

Anonymous wrote:Thanks to Bidenomics Ohio is become less safe
https://nypost.com/2022/06/15/ohio-police-department-cuts-back-on-patrols-due-to-gas-prices/amp/

Police departments are cutting back on patrols due to high gas prices.

So I did a bit of looking around at their city council minutes and evidently they have only two officers and were talking about adding a third in January of this year. https://www.villageofsouthzanesville.com/wp-content/uploads/2022/03/Jan-10th-2022-Minutes.pdf In these same minutes, Chief Ross asked if he could start bringing his cruiser home in lieu of a pay upgrade. Chief Ross lives 23 miles from where he works, for the record. The council unanimously said no. The county in which South Zanesville sits voted almost two to one for Trump over Biden. https://woub.org/2020/11/04/unofficial-election-results-for-muskingum-county-4/ In other words, seems like maybe the Trumpy police chief isn’t great at managing things and just wants things his own way and when he doesn’t get what he wants, he retaliates (seems very on brand for cops, honestly).

You’ll note that all the media about this are exclusively from right wing sources. Good job, pp, on being a total sheep for RWNJ propaganda.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Uh oh. According to the Atlanta Fed's GDPNow model estimate for real GDP, growth in the second quarter of 2022 has been cut to just 0.0%, down from +0.9% on June 6, down from 1.3% on June 1, and down from 1.9% on May 27.

https://www.atlantafed.org/cqer/research/gdpnow.aspx

We have a labor shortage. This is going to be a painful process. Remember this pain when you complain about immigrants. If it weren’t for immigrants, we would be in worse shape!

They'll come back soon when retirement portfolios are cut in half.

[Anonymous]

HOLY CRAP.

JPOW and the FED coming in HOT HOT HOT.

75 BPS. YE fed funds rate is now projected to be 3.4%, which is WAYYYYYY higher than previously expected.

Fed is super, super hawkish is absolutely committed to combating inflation. The Fed is finally gaining some street cred back.

However, this means the risk for a recession has now exploded. Powell dodged talking about this today, but the hammer is coming down HARD. Recession is looming.

[Anonymous]

Another day, another bad economic data point release. Today's version is housing starts, May down 14% from April thanks to high interest rates and costs.... Putins fault?

[Anonymous]

Anonymous wrote:Our economy will be a mess until 2030 due to boomer retirement and the world deglobalizing. No President can fix it! It’s just a painful process.

Going by demographic trends, we might be in for longer than just 2030. Where is the "growth" going to come from?

[Anonymous]

Redfin announces 8% of their staff will be let go....

Compass announces 10% of their staff will be let go...

Coinbase announces 18% of their staff will be let go...

Nothing to see here people... All is well!

[Anonymous]

Anonymous wrote:HOLY CRAP.

JPOW and the FED coming in HOT HOT HOT.

75 BPS. YE fed funds rate is now projected to be 3.4%, which is WAYYYYYY higher than previously expected.

Fed is super, super hawkish is absolutely committed to combating inflation. The Fed is finally gaining some street cred back.

However, this means the risk for a recession has now exploded. Powell dodged talking about this today, but the hammer is coming down HARD. Recession is looming.

I agree with recession is looming, but 75bps really isn't much when inflation is 9.6% (and likely near double that if calculated using the same method they used in the 80s). It's like fighting a forest fire with a bottle of water.