Biden’s economy

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Inflation is up almost 20% since Biden took office. Wages are not up 20% over that time frame. Inflation getting worse at a slower rate is not going to appease voters

Right, because in the same pattern that always happens, the Democrat inherited an economic disaster from their Republican predecessor and spends their first term being an adult and cleaning up the mess the GOP children/drunken sailors left behind.

It took Biden a little while to get Trump's economic meltdown under control, but now that he firmly has the reins we're steadily improving with wages outpacing inflation for the last several quarters. Biden has set us on a fantastic economic course on a trajectory that has been better than basically any other country in the world.

Sorry he didn't wave a magic wand and fix everything day 1, but that's a ridiculous standard to hold him or any President to. He had to do what he could with the economy he was given, and realistically he has been doing about as good a job as humanly possible. Judging by your ignorant post many voters clearly do not understand this, but your economic illiteracy does not change reality or negate Biden's monumental accomplishments.

Your blindfolded. The Economy under Trump Pre-Pandemic was very good. Unemployment like 3.7% with a ton more participation, Things did not outrage you the way they do now with respect to what they cost. The balance of wages vs what things cost was MUCH better. The average person today doesnt feel the 5% wage increases they've picked up when everything costs 20% more in 3 years!
And we can safely assume had a Democrat been in power when the Pandemic started, we wouldve been worse off economically with even more shutdowns, lockdowns and isolation. Remember when Democrats called it Racist when flights from China were banned? So therefore Democrats wouldve allowed those, but Covid wouldve been handled better? Bullshit and you know it. Democrats had plenty of time to prove how they handled Covid by keeping schools and events closed after Biden became President or comparing Democrat areas vs Republican areas side by side.

The gist of your argument: "The Trump economy was pretty great if you just ignore that pesky pandemic that killed over 1,000,000 Americans and forced the U.S. government to undertake extraordinary monetary and fiscal stimulus"

S&P500 return, Nov 2016 to Jan 2020 (before major COVID outbreak hitting the U.S.): 51.4%
S&P500 return, Nov 2020 to March 2024 (under Biden presidency): 47.5%

Their economic records are basically even in the markets. Inflation has plagued every major industrial country coming out of COVID - even inflation hawk Sweden hit 12% inflation!

Come back to reality.

[Anonymous]

Anonymous wrote:Inflation is up almost 20% since Biden took office. Wages are not up 20% over that time frame. Inflation getting worse at a slower rate is not going to appease voters

Gee, what do you think caused the inflation, which is global, when Biden took office? How does inflation in 2021 when Biden took office compare to now?

I'll wait here while you look it up.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Inflation is up almost 20% since Biden took office. Wages are not up 20% over that time frame. Inflation getting worse at a slower rate is not going to appease voters

Again: would you like the government to mandate wages for all? The GOP is pretty hostile to protections for workers.

Different poster, but no, I'd like the federal government to practice sound fiscal policy, like not running $2T deficits under a growing economy. That will help tame inflation, and wages won't need to be artificially set to catch up.

So then you are mad at Trump for passing unneeded tax cuts in a growing economy that ballooned the debt by 25%. I agree.
However Biden inherited an economy that was shrinking and in collapse. That is the time to spend money, which is what he proposed. To date, it has worked beautifully.

[Anonymous]

Anonymous wrote:Inflation is up almost 20% since Biden took office. Wages are not up 20% over that time frame. Inflation getting worse at a slower rate is not going to appease voters

Profits in those sectors where consumer goods prices increased by 20% also increased signficantly.

Yet somehow you can't figure out how to connect the dots.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Inflation is up almost 20% since Biden took office. Wages are not up 20% over that time frame. Inflation getting worse at a slower rate is not going to appease voters

Right, because in the same pattern that always happens, the Democrat inherited an economic disaster from their Republican predecessor and spends their first term being an adult and cleaning up the mess the GOP children/drunken sailors left behind.

It took Biden a little while to get Trump's economic meltdown under control, but now that he firmly has the reins we're steadily improving with wages outpacing inflation for the last several quarters. Biden has set us on a fantastic economic course on a trajectory that has been better than basically any other country in the world.

Sorry he didn't wave a magic wand and fix everything day 1, but that's a ridiculous standard to hold him or any President to. He had to do what he could with the economy he was given, and realistically he has been doing about as good a job as humanly possible. Judging by your ignorant post many voters clearly do not understand this, but your economic illiteracy does not change reality or negate Biden's monumental accomplishments.

Your blindfolded. The Economy under Trump Pre-Pandemic was very good. Unemployment like 3.7% with a ton more participation, Things did not outrage you the way they do now with respect to what they cost. The balance of wages vs what things cost was MUCH better. The average person today doesnt feel the 5% wage increases they've picked up when everything costs 20% more in 3 years!
And we can safely assume had a Democrat been in power when the Pandemic started, we wouldve been worse off economically with even more shutdowns, lockdowns and isolation. Remember when Democrats called it Racist when flights from China were banned? So therefore Democrats wouldve allowed those, but Covid wouldve been handled better? Bullshit and you know it. Democrats had plenty of time to prove how they handled Covid by keeping schools and events closed after Biden became President or comparing Democrat areas vs Republican areas side by side.

What you are calling the "Trump Economy" was in fact, the Obama economy. If you look at the charts, what trump inherited was a moderately gorwing economy with firming employment numbers and GDP. Trump's juicing with the tax cuts did not materially change the trajectory of GDP or unemployment. It did grow the debt, however.

Then, Trump bungled COVID and left office with a crashing economy, shrinking GDP, skyrocketing unemployment etc. Biden was left to fix it. A byproduct of that is the GLOBAL inflation. Yes, it is bad. It is far worse just about everywhere else. Show me an economy that has done better post-COVID.

You can't.

So ya, complain all you want. It could have been a heck of a lot worse.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Inflation is up almost 20% since Biden took office. Wages are not up 20% over that time frame. Inflation getting worse at a slower rate is not going to appease voters

Profits in those sectors where consumer goods prices increased by 20% also increased signficantly.

Yet somehow you can't figure out how to connect the dots.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Inflation is up almost 20% since Biden took office. Wages are not up 20% over that time frame. Inflation getting worse at a slower rate is not going to appease voters

Right, because in the same pattern that always happens, the Democrat inherited an economic disaster from their Republican predecessor and spends their first term being an adult and cleaning up the mess the GOP children/drunken sailors left behind.

It took Biden a little while to get Trump's economic meltdown under control, but now that he firmly has the reins we're steadily improving with wages outpacing inflation for the last several quarters. Biden has set us on a fantastic economic course on a trajectory that has been better than basically any other country in the world.

Sorry he didn't wave a magic wand and fix everything day 1, but that's a ridiculous standard to hold him or any President to. He had to do what he could with the economy he was given, and realistically he has been doing about as good a job as humanly possible. Judging by your ignorant post many voters clearly do not understand this, but your economic illiteracy does not change reality or negate Biden's monumental accomplishments.

Your blindfolded. The Economy under Trump Pre-Pandemic was very good. Unemployment like 3.7% with a ton more participation, Things did not outrage you the way they do now with respect to what they cost. The balance of wages vs what things cost was MUCH better. The average person today doesnt feel the 5% wage increases they've picked up when everything costs 20% more in 3 years!
And we can safely assume had a Democrat been in power when the Pandemic started, we wouldve been worse off economically with even more shutdowns, lockdowns and isolation. Remember when Democrats called it Racist when flights from China were banned? So therefore Democrats wouldve allowed those, but Covid wouldve been handled better? Bullshit and you know it. Democrats had plenty of time to prove how they handled Covid by keeping schools and events closed after Biden became President or comparing Democrat areas vs Republican areas side by side.

The gist of your argument: "The Trump economy was pretty great if you just ignore that pesky pandemic that killed over 1,000,000 Americans and forced the U.S. government to undertake extraordinary monetary and fiscal stimulus"

S&P500 return, Nov 2016 to Jan 2020 (before major COVID outbreak hitting the U.S.): 51.4%
S&P500 return, Nov 2020 to March 2024 (under Biden presidency): 47.5%

Their economic records are basically even in the markets. Inflation has plagued every major industrial country coming out of COVID - even inflation hawk Sweden hit 12% inflation!

Come back to reality.

S&P on Jan 20, 2021 was 3,853.
S&P today is 5,156.

Since Biden took office, the S&P 500 stock index has risen a healthy 40%, capped by a five-month rally that kicked off last October and is still underway. At the same point in Trump’s presidential term, the S&P was up just 13%.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Inflation is up almost 20% since Biden took office. Wages are not up 20% over that time frame. Inflation getting worse at a slower rate is not going to appease voters

Right, because in the same pattern that always happens, the Democrat inherited an economic disaster from their Republican predecessor and spends their first term being an adult and cleaning up the mess the GOP children/drunken sailors left behind.

It took Biden a little while to get Trump's economic meltdown under control, but now that he firmly has the reins we're steadily improving with wages outpacing inflation for the last several quarters. Biden has set us on a fantastic economic course on a trajectory that has been better than basically any other country in the world.

Sorry he didn't wave a magic wand and fix everything day 1, but that's a ridiculous standard to hold him or any President to. He had to do what he could with the economy he was given, and realistically he has been doing about as good a job as humanly possible. Judging by your ignorant post many voters clearly do not understand this, but your economic illiteracy does not change reality or negate Biden's monumental accomplishments.

Your blindfolded. The Economy under Trump Pre-Pandemic was very good. Unemployment like 3.7% with a ton more participation, Things did not outrage you the way they do now with respect to what they cost. The balance of wages vs what things cost was MUCH better. The average person today doesnt feel the 5% wage increases they've picked up when everything costs 20% more in 3 years!
And we can safely assume had a Democrat been in power when the Pandemic started, we wouldve been worse off economically with even more shutdowns, lockdowns and isolation. Remember when Democrats called it Racist when flights from China were banned? So therefore Democrats wouldve allowed those, but Covid wouldve been handled better? Bullshit and you know it. Democrats had plenty of time to prove how they handled Covid by keeping schools and events closed after Biden became President or comparing Democrat areas vs Republican areas side by side.

Dp- we’ve been over this 1,000 times here on these threads, and you are too stupid to absorb the information. Go back and reread the Covid threads. We don’t have all day to educate your ignorant ass again.

[Anonymous]

As this references, people are doing great. they have a bad impression of the economy, mostly because of all the doom and gloom from the media.

if people are actually voting their own pocketbooks, then based on this, Biden will likely win the swing states.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Inflation is up almost 20% since Biden took office. Wages are not up 20% over that time frame. Inflation getting worse at a slower rate is not going to appease voters

Profits in those sectors where consumer goods prices increased by 20% also increased signficantly.

Yet somehow you can't figure out how to connect the dots.

How do you connect dots to profits for the companies you are talking about when earnings per share have gone down or been stagnant, sometimes nominally, sometimes on an inflation adjusted basis?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Inflation is up almost 20% since Biden took office. Wages are not up 20% over that time frame. Inflation getting worse at a slower rate is not going to appease voters

Again: would you like the government to mandate wages for all? The GOP is pretty hostile to protections for workers.

Different poster, but no, I'd like the federal government to practice sound fiscal policy, like not running $2T deficits under a growing economy. That will help tame inflation, and wages won't need to be artificially set to catch up.

Both parties are now completely profligate and the debt cliff is looming.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Inflation is up almost 20% since Biden took office. Wages are not up 20% over that time frame. Inflation getting worse at a slower rate is not going to appease voters

Profits in those sectors where consumer goods prices increased by 20% also increased signficantly.

Yet somehow you can't figure out how to connect the dots.

How do you connect dots to profits for the companies you are talking about when earnings per share have gone down or been stagnant, sometimes nominally, sometimes on an inflation adjusted basis?

https://fred.stlouisfed.org/series/CP

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Inflation is up almost 20% since Biden took office. Wages are not up 20% over that time frame. Inflation getting worse at a slower rate is not going to appease voters

Again: would you like the government to mandate wages for all? The GOP is pretty hostile to protections for workers.

Different poster, but no, I'd like the federal government to practice sound fiscal policy, like not running $2T deficits under a growing economy. That will help tame inflation, and wages won't need to be artificially set to catch up.

Both parties are now completely profligate and the debt cliff is looming.

Yet Republicans are unwilling to roll back Trump's tax cuts that unnecessarily added trillions to the debt while delivering virtually nothing of value to the country (other than making some of the rich people even richer)

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Inflation is up almost 20% since Biden took office. Wages are not up 20% over that time frame. Inflation getting worse at a slower rate is not going to appease voters

Profits in those sectors where consumer goods prices increased by 20% also increased signficantly.

Yet somehow you can't figure out how to connect the dots.

How do you connect dots to profits for the companies you are talking about when earnings per share have gone down or been stagnant, sometimes nominally, sometimes on an inflation adjusted basis?

https://fred.stlouisfed.org/series/CP

Yep - the profits are coming from product sales. They could roll back prices and ease inflation if they wanted to. But they aren't. It's just pure greed.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Inflation is up almost 20% since Biden took office. Wages are not up 20% over that time frame. Inflation getting worse at a slower rate is not going to appease voters

Profits in those sectors where consumer goods prices increased by 20% also increased signficantly.

Yet somehow you can't figure out how to connect the dots.

How do you connect dots to profits for the companies you are talking about when earnings per share have gone down or been stagnant, sometimes nominally, sometimes on an inflation adjusted basis?

https://fred.stlouisfed.org/series/CP

Not on an EPS basis or inflation adjusted.