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Biden’s economy
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Anonymous
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Inflation was terrible under carter and Reagan got credit for bring it down. Inflation has stayed low since Reagan and spiked under Biden. Just like Carter, it will cost Biden a second term |
Anonymous
| Maybe, if ANYONE other than Trump is the nominee. |
Anonymous
The problem is that Trump will claim the primaries were rigged by the RNC if anyone other than him gets the nomination. |
Anonymous
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If Trump gets back in office, maybe he’ll get another pandemic going so inflation is even worse. At that point though all the people smart enough to help will be in camps - and this is at Trump’s own word - so. |
Anonymous
Interest rates went to double digits under Reagan. They have been low since the 2008 market crash for a variety of reasons, but between the late 1980's and 2008, it was just regular ebb and flow. Inflation spiked at the end of the Trump Administration and was what Biden inherited because of how trump mishandled COVID and crashed our economy. Inflation was inevitable as Biden got the vaccine out and people back to work and the economy moving again. That we have had not only all of the jobs come back, but a sustained growth thereafter is unprecendented. That it has happened without a market crash, without excessive fallout is solely due to the BBB and IRA Biden bills. evidence of this is that no other country has the economic success that the US has, and inflation is worse everywhere else. Still bad here, but better than any other country in the world. Why not mention that? |
Anonymous
WRONG. https://www.bls.gov/news.release/archives/cpi_02102021.pdf Why not mention that we are now paying ONE TRILLION in interest on the debt also as of this year? Not to mention we've had three large banks crash which as a total in asset terms was almost as much as the banking crisis of 2008. https://en.wikipedia.org/wiki/List_of_bank_failures_in_the_United_States_(2008%E2%80%93present) |
Anonymous
So you want to ignore how the debt tripled under Reagan? How it doubled under W? How trump expanded the debt by 4 trillion? And ALL of that was for tax cuts that consolidated wealth in the US to the top .05% |
Anonymous
They do want to ignore that, yes. |
Anonymous
Those facts are inconvenient and don't promote the narrative that DUMMYCRATS ARE BAD. So, if we could please set them to the side, that would be super helpful. |
Anonymous
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As of today there have been 5 bank failures in 2023 that have been put into FDIC receivership.
These failures include : 1. First Republic Bank, San Francisco, CA 2. Silicon Valley Bank, Santa Clara, CA 3. Heartland Tri-State Bank, Elkhart, KS 4. Citizens Bank, Sac City, IA 5. Signature Bank, New York, NY The total assets of these failed banks in 2023 amount to billions of dollars The FDIC has taken various measures to protect depositors, such as entering into purchase and assumption agreements with other banks to assume the deposits and assets of the failed banks. The reserve requirement for banks, also known as the reserve ratio, is the minimum amount of funds that banks must hold in reserves. Before March 2020, the U.S. central bank, the Federal Reserve, required banks to have a percentage of funds tied up in reserves. The percentage was 3% or 10% of money held in transaction accounts, such as checking accounts, and the percentage depended on a bank’s size. However, in March 2020, the Fed lowered the reserve requirement ratio to 0%, meaning there is no longer a reserve requirement for banks. This change was made to stimulate the economy, and the 0% reserve ratio has remained in place since late March 2020 Remember, By Law Banks are held to the High Bar of Having a 0% reserve requirement meaning that if you put $1,000 in the bank you just made a $1,000 unsecured loan to the bank. |
Anonymous
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Record oil output. Production is as much as Saudi Arabia and Russia combined! OPEC keeps cutting and the US keeps making up the difference, good news for the economy.
The United States is thriving as an oil producer, accounting for 80 percent of the global supply increase in 2023, according to the I.E.A. In October, the United States pumped 19.8 million barrels a day, about as much as the combined total from Russia and Saudi Arabia, the next two largest producers. |