Biden’s economy

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

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Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Meanwhile …

Trump has proposed imposing unprecedented new tariffs on trillions of dollars worth of imports and deporting undocumented workers on a vast scale. Both campaign pledges risk exacerbating the price spikes that have subsided over the last year, according to liberal and conservative economists alike, in addition to some estimates cited by the former president’s own advisers. If he’s elected, Trump could implement these policies at least in part without needing Congress to act.


Trump’s enormously disruptive policy proposals come as he appears likely to jettison the more cautious and establishment-friendly economic advisers that restrained his most nationalist and confrontational impulses during his first term. These advisers — such as former treasury secretary Steven T. Mnuchin — now find themselves either at war with Trump or receding from his inner circle, potentially empowering more fringe voices.

https://www.washingtonpost.com/business/2024/01/07/trump-economy-inflation-biden-campaign/

Exactly. Trump's policies are just as harmful to the economy as Biden's policies. Don't let the MAGA crowd fool you into thinking otherwise.

How have Biden's policies been harmful to the economy?

I ask because by every metric, the economy is better now than what Biden inherited. It is also better than every country but Japan. Including inflation.

So where is the harmful stuff? Please be specific.

Go ask your MAGA buddies. You aren't fooling anyone.

So, no answers for PP. Noted.

Of course there are no answers for that one. Anyone who lumps the thoughtful and sober actions of Biden and the Democrats in with Trump and the GOP isn’t a serious person. The GOP loves destroying the economy, first because they don’t care, second because everytime they do that, the rich get richer and there’s greater wealth inequality.

When the economy is good for a Republican President, I sm told that economic results are delayed and that it was the work of the previous administration. Now I hear economic results are practically instantaneous, and the current administration basically has a knob they turn to make things better in a matter of months.

When the GOP gets control, they can’t help themselves. They fiddle with every knob and set it to “maximum profit for the ultrawealthy.” It’s a compulsion. Meanwhile under Democratic leadership and specifically Biden’s Inflation Reduction Act, the IRS has collected 520 million dollars from high wealth individuals (rather than the middle income and poor people that the IRS used to target when they were underfunded and didn’t have the money to pursue the wealthy tax cheats). https://www.nbcnews.com/business/taxes/irs-back-taxes-collected-delinquent-millionaires-how-much-rcna133653 Taxes and tax collection are just one little thing. Supporting labor is another thing that Biden has done. The country looks up when there’s a Democrat in the White House.

So yeah, there’s an effect.

US Steel was sold to a foreign corporation. That's probably not the effect we want.

You want the government to step in there? Really? You want the government to control the means of production?

The government can deny the sale based on national security concerns. That wouldn't mean the government owning the means of production in this case.

[Anonymous]

#winning

[Anonymous]

Axios poll

[Anonymous]

Anonymous wrote:Axios poll

This is consistent with many other polls. People say they are doing great themselves, but still think the economy is bad. It’s all the negative media coverage.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Axios poll

This is consistent with many other polls. People say they are doing great themselves, but still think the economy is bad. It’s all the negative media coverage.

They have to have their horse race. And they hate Biden with a strange vitriol.

[Anonymous]

This is a big deal.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Axios poll

This is consistent with many other polls. People say they are doing great themselves, but still think the economy is bad. It’s all the negative media coverage.

They have to have their horse race. And they hate Biden with a strange vitriol.

"Biden's Economy" = "Butter Emails 2.0"

[Anonymous]

Thanks to Bidenomics Americans hold a grim view of the economy
https://www.cnbc.com/2023/12/25/inflation-has-created-a-dark-cloud-over-how-everyday-americans-view-the-economy.html

Three quarters of Americans are still in a dire financial situation.
https://www.foxbusiness.com/personal-finance/americans-financial-recovery-covid

For a lot of Americans, it's the Obama great recession all over again
https://www.cbsnews.com/news/economy-inflation-why-americans-are-so-unhappy-three-charts/#:~:text=The%20number%20of%20consumers%20who,from%20the%20U.S.%20Census%20Bureau.

Thanks to Bidenomics, prices skyrocket and consumers are forced to use high interest credit to make ends meet.

Hold on to your hats folks...when these defaults start coming in it's going to be a huge dump...

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Axios poll

This is consistent with many other polls. People say they are doing great themselves, but still think the economy is bad. It’s all the negative media coverage.

They have to have their horse race. And they hate Biden with a strange vitriol.

"Biden's Economy" = "Butter Emails 2.0"

"Al Gore sighs 3.0"

[Anonymous]

If Trump and the Republicans want a prayer of beating the Democrats, they have to change course on monopolies. Monopolies are the cause of so much of our inflation and other economic problems. Right or wrong, Democrats are seen as the anti-monopoly party.

"Very large companies in concentrated industries have very high markups, and they're getting higher. From 2017-22, the 20 largest companies in the world had average markups of 50%. The 100 largest companies average 43%. The smallest half of companies get average markups of 25%.

Those markups rose steeply during the covid lockdowns – and so did the wealth of the billionaires who own them. Tech billionaires – Bezos, Brin and Page, Gates and Ballmer – all made their fortunes from monopolies. Warren Buffet is a proud monopolist who says 'the single most important decision in evaluating a business is pricing power… if you have to have a prayer session before raising the price by 10 percent, then you’ve got a terrible business.'

We are living in the age of the monopoly. In the 1930s, the top 0.1% of US companies accounted for less than half of America's GDP. Today, it's 90%. And it's accelerating, with global mergers climbing from 2,676 in 1985 to 62,000 in 2021.
...
This power to set prices is behind the greedflation (or, more politely, 'seller's inflation'). The CEOs of the largest companies in the world keep getting on investor calls and bragging about this."

Source: https://pluralistic.net/2024/01/17/monopolies-produce-billionaires/

[Anonymous]

Anonymous wrote:Thanks to Bidenomics Americans hold a grim view of the economy
https://www.cnbc.com/2023/12/25/inflation-has-created-a-dark-cloud-over-how-everyday-americans-view-the-economy.html

Three quarters of Americans are still in a dire financial situation.
https://www.foxbusiness.com/personal-finance/americans-financial-recovery-covid

For a lot of Americans, it's the Obama great recession all over again
https://www.cbsnews.com/news/economy-inflation-why-americans-are-so-unhappy-three-charts/#:~:text=The%20number%20of%20consumers%20who,from%20the%20U.S.%20Census%20Bureau.

Thanks to Bidenomics, prices skyrocket and consumers are forced to use high interest credit to make ends meet.

Hold on to your hats folks...when these defaults start coming in it's going to be a huge dump...

Obama's great recession? It happened under W. WTF. Can you even get your facts right?

[Anonymous]

Anonymous wrote:Thanks to Bidenomics Americans hold a grim view of the economy
https://www.cnbc.com/2023/12/25/inflation-has-created-a-dark-cloud-over-how-everyday-americans-view-the-economy.html

Three quarters of Americans are still in a dire financial situation.
https://www.foxbusiness.com/personal-finance/americans-financial-recovery-covid

For a lot of Americans, it's the Obama great recession all over again
https://www.cbsnews.com/news/economy-inflation-why-americans-are-so-unhappy-three-charts/#:~:text=The%20number%20of%20consumers%20who,from%20the%20U.S.%20Census%20Bureau.

Thanks to Bidenomics, prices skyrocket and consumers are forced to use high interest credit to make ends meet.

Hold on to your hats folks...when these defaults start coming in it's going to be a huge dump...

So, what is the GOP solution?

Because the last three GOP presidents presided over minimal job growth, growing debt, growing unemployment and contracting GDP.

[Anonymous]

Anonymous wrote:If Trump and the Republicans want a prayer of beating the Democrats, they have to change course on monopolies. Monopolies are the cause of so much of our inflation and other economic problems. Right or wrong, Democrats are seen as the anti-monopoly party.

"Very large companies in concentrated industries have very high markups, and they're getting higher. From 2017-22, the 20 largest companies in the world had average markups of 50%. The 100 largest companies average 43%. The smallest half of companies get average markups of 25%.

Those markups rose steeply during the covid lockdowns – and so did the wealth of the billionaires who own them. Tech billionaires – Bezos, Brin and Page, Gates and Ballmer – all made their fortunes from monopolies. Warren Buffet is a proud monopolist who says 'the single most important decision in evaluating a business is pricing power… if you have to have a prayer session before raising the price by 10 percent, then you’ve got a terrible business.'

We are living in the age of the monopoly. In the 1930s, the top 0.1% of US companies accounted for less than half of America's GDP. Today, it's 90%. And it's accelerating, with global mergers climbing from 2,676 in 1985 to 62,000 in 2021.
...
This power to set prices is behind the greedflation (or, more politely, 'seller's inflation'). The CEOs of the largest companies in the world keep getting on investor calls and bragging about this."

Source: https://pluralistic.net/2024/01/17/monopolies-produce-billionaires/

Biden is fighting monopolies, which is great for consumers.
https://www.cnbc.com/2024/01/16/jetblue-spirit-merger-block-in-win-for-bidens-justice-department.html

[Anonymous]

Anonymous wrote:

Anonymous wrote:If Trump and the Republicans want a prayer of beating the Democrats, they have to change course on monopolies. Monopolies are the cause of so much of our inflation and other economic problems. Right or wrong, Democrats are seen as the anti-monopoly party.

"Very large companies in concentrated industries have very high markups, and they're getting higher. From 2017-22, the 20 largest companies in the world had average markups of 50%. The 100 largest companies average 43%. The smallest half of companies get average markups of 25%.

Those markups rose steeply during the covid lockdowns – and so did the wealth of the billionaires who own them. Tech billionaires – Bezos, Brin and Page, Gates and Ballmer – all made their fortunes from monopolies. Warren Buffet is a proud monopolist who says 'the single most important decision in evaluating a business is pricing power… if you have to have a prayer session before raising the price by 10 percent, then you’ve got a terrible business.'

We are living in the age of the monopoly. In the 1930s, the top 0.1% of US companies accounted for less than half of America's GDP. Today, it's 90%. And it's accelerating, with global mergers climbing from 2,676 in 1985 to 62,000 in 2021.
...
This power to set prices is behind the greedflation (or, more politely, 'seller's inflation'). The CEOs of the largest companies in the world keep getting on investor calls and bragging about this."

Source: https://pluralistic.net/2024/01/17/monopolies-produce-billionaires/

Biden is fighting monopolies, which is great for consumers.
https://www.cnbc.com/2024/01/16/jetblue-spirit-merger-block-in-win-for-bidens-justice-department.html

It may be that Democrats are seen as more anti-monopoly than Republicans because they are, in fact, more anti-monopoly than Republicans.

[Anonymous]

This is a huge deal for lower income Americans