Biden’s economy

[Anonymous]

Anonymous wrote:

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Anonymous wrote:

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Anonymous wrote:Biden just lied again during his short presser.

He claims that inflation was skyrocketing when he took office. WRONG!!!!

Inflation skyrocketed a year into his presidency. Because of his out of control spending. And, we are still seeing the effects of it today.

Either he is blatantly lying, or his staff is gaslighting him into believing what he says.

REALITY: Inflation has averaged 5.5% year-over-year under Biden — and averaged 1.9% under President Trump.

The economy crashed under Trump and recovered exceptionally under Biden. Inflation was global caused by the pandemic.

Braindead. Delusional.
The economy was tremendous under Trump. You want to look up gas prices in Jan 2020? The Pandemic crashed the economy. You see any Democrat anywhere that wasnt in support of completely locking down? Or you remember how many Democrats that even wanted everything shut down indefinitely until 2021.

You look up the stock market in January 2020 vs. now?

stock market doesn’t translate to the kitchen table.

I mean I know democrats are the party of the wealthy elite but the average American can’t afford groceries

+1

When Republicans talked about the stock market doing well, Democrats said the same thing. While many Americans do have money in the stock market (directly or through pensions/401(k) accounts), this is cold comfort when they need to buy day-to-day things like groceries and gas. We were told inflation was transitory due to the Covid-19 pandemic, but that isn't the case. Inflation is clearly a very "sticky" problem caused by too much money (including massive gov't spending) chasing too few goods. Inflation is not caused by price gouging (if it were that simple, a company could gain market share by not doing so).

And the solution is?

Step 1 - Admitting that you have a problem.
Step 2 - Immediately mitigating the harm being caused by the problem.
Step 3 - Root cause analysis for the problem.
Step 4 - Developing potential solutions for the problem.
Step 5 - Determining the pros/cons of the potential solutions to the problem.
Step 6 - Selecting the appropriate solution to the problem.

You've skipped all the way to Step 6. The current administration is still stuck stuck at Step 1.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Biden just lied again during his short presser.

He claims that inflation was skyrocketing when he took office. WRONG!!!!

Inflation skyrocketed a year into his presidency. Because of his out of control spending. And, we are still seeing the effects of it today.

Either he is blatantly lying, or his staff is gaslighting him into believing what he says.

REALITY: Inflation has averaged 5.5% year-over-year under Biden — and averaged 1.9% under President Trump.

The economy crashed under Trump and recovered exceptionally under Biden. Inflation was global caused by the pandemic.

Braindead. Delusional.
The economy was tremendous under Trump. You want to look up gas prices in Jan 2020? The Pandemic crashed the economy. You see any Democrat anywhere that wasnt in support of completely locking down? Or you remember how many Democrats that even wanted everything shut down indefinitely until 2021.

You look up the stock market in January 2020 vs. now?

stock market doesn’t translate to the kitchen table.

I mean I know democrats are the party of the wealthy elite but the average American can’t afford groceries

+1

When Republicans talked about the stock market doing well, Democrats said the same thing. While many Americans do have money in the stock market (directly or through pensions/401(k) accounts), this is cold comfort when they need to buy day-to-day things like groceries and gas. We were told inflation was transitory due to the Covid-19 pandemic, but that isn't the case. Inflation is clearly a very "sticky" problem caused by too much money (including massive gov't spending) chasing too few goods. Inflation is not caused by price gouging (if it were that simple, a company could gain market share by not doing so).

And the solution is?

Step 1 - Admitting that you have a problem.
Step 2 - Immediately mitigating the harm being caused by the problem.
Step 3 - Root cause analysis for the problem.
Step 4 - Developing potential solutions for the problem.
Step 5 - Determining the pros/cons of the potential solutions to the problem.
Step 6 - Selecting the appropriate solution to the problem.

You've skipped all the way to Step 6. The current administration is still stuck stuck at Step 1.

Step 7 - Implementing the solution to the problem.
Step 8 - Monitoring the solution to the problem.
Step 9 - Adjusting the solution to the problem if necessary.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:As long as he is giving handouts like loan forgiveness and his other 2 legislations are paying out, inflation will continue. It's simple stuff guys

Loan forgiveness has zero effect on inflation. It is not spending money, it is forgiving future loan payments and the amount foregiven is not even detectable compared to the size of the U.S. economy. It does not increase prices of anything today or in the future.

Incorrect. The borrowers don’t have to pay that money to the government. That means they suddenly have a certain amount of cash now available to spend on other stuff. So it basically is yet another infusion of cash into the economy. And there is already too much cash in the economy. That is what inflation is…

Student loan relief offsets a negligible amount of current cash. Inflation has not been caused by excess cash/demand. It is the result of supply side changes in production, automation, transportation, corporate cost shifting, manipulation, etc., in response to the economic disruption of Covid and other global events.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Keep the left (democrats and RINOS) away from finance and economics.

You don’t like economic growth? Republican President = Recession. It’s what they do.

What economic growth? The government creating money out of thin air to "buy" jobs? Yeah, I don't think so.

The last employment report was 303K new jobs. 71K were in the medical field (paper pushers) and 72K in government (paper pushing).

So the true number was more like 160K jobs created and the rest fantasy. Your "growth" is producing very little; just a dollar that has less and less value.

Medical jobs are real jobs that create real value in local economies and local communities. A lot of the government jobs are education jobs that also are real jobs creating value to the local community. Get over this bullshit that jobs manufacturing some widget for the military are more beneficial than jobs saving and improving peoples’ lives.

[Anonymous]

Anonymous wrote:Inflation is 100 percent a monetary phenomenon. Too much money chasing too little productivity

Another conservative who “knows” something that is completely false.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:As long as he is giving handouts like loan forgiveness and his other 2 legislations are paying out, inflation will continue. It's simple stuff guys

Loan forgiveness has zero effect on inflation. It is not spending money, it is forgiving future loan payments and the amount foregiven is not even detectable compared to the size of the U.S. economy. It does not increase prices of anything today or in the future.

Incorrect. The borrowers don’t have to pay that money to the government. That means they suddenly have a certain amount of cash now available to spend on other stuff. So it basically is yet another infusion of cash into the economy. And there is already too much cash in the economy. That is what inflation is…

No, there's not too much cash. There's too little supply of goods and services that are in demand, which has driven the prices higher. It's not money being thrown from helicopters now.

I don’t think you ever too economics. Oversupply of cash is typically one of the top 3 causes if inflation and frankly Biden has pumped money into the economy over and over. Trump did a covid stimulus and it was controversial because of the potential it could cause inflation but he did it when the country was shut down from COVID. Biden did it again in January’s 2021 and the country was coming out of COVID. He then did the Inflation Reduction (production) act and the infrastructure bill. He keeps trying to cancel student debt. And guess what… inflation is high and not getting better. He has made it much worse than it needed to be but he wants to buy votes so pumping another 7 billion into the economy to buy votes is worth it to him. There are other factors that contribute and extend inflation but you have to be completely ignorant about economics if you refuse to acknowledge that too much cash chasing too few goods is one of the main factors.

You can complain all you want about the Inflation Reduction Act and Infrastructure bill, but those were necessary for American competition and growth. We must bring manufacturing back from China and the IRA helps that tremendously. The number one factor that is causing inflation to be high is housing. Also, our supply chain has not returned to pre-pandemic stability.

+1 and if these were the primary drivers of inflation then you would see U.S. inflation higher than other developed countries. However, it’s been the opposite. Inflation has been a worldwide phenomenon due to supply constraints coming out of the pandemic. Anyone who says otherwise needs to explain what is driving the inflation consistently across the developed world and why the U.S. has had a better recovery and lower inflation than comparable countries.

[Anonymous]

Biden’s economy is horrendous.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Keep the left (democrats and RINOS) away from finance and economics.

You don’t like economic growth? Republican President = Recession. It’s what they do.

What economic growth? The government creating money out of thin air to "buy" jobs? Yeah, I don't think so.

The last employment report was 303K new jobs. 71K were in the medical field (paper pushers) and 72K in government (paper pushing).

So the true number was more like 160K jobs created and the rest fantasy. Your "growth" is producing very little; just a dollar that has less and less value.

Medical jobs are real jobs that create real value in local economies and local communities. A lot of the government jobs are education jobs that also are real jobs creating value to the local community. Get over this bullshit that jobs manufacturing some widget for the military are more beneficial than jobs saving and improving peoples’ lives.

Republicans are also stifling jobs manufacturing widgets for the military by refusing to fund aid for Ukraine.

[Anonymous]

Another day, another sign of pending economic doom as Q1 2024 bank earnings (JP Morgan and Wells Fargo) tanked...

[Anonymous]

Anonymous wrote:Biden’s economy is horrendous.

And yet, it is better than the one he inherited and it is better than any other in the world.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Inflation is 100 percent a monetary phenomenon. Too much money chasing too little productivity

Another conservative who “knows” something that is completely false.

Why don’t you look up the causes of inflation. You will see too much currency is always in the top 3. Stop putting your head in the sand.

[Anonymous]

For example the st Louis fed says…
https://www.stlouisfed.org/education/feducation-video-series/episode-1-money-and-inflation#:~:text=Inflation%20is%20caused%20when%20the,round%20one%20to%20round%20two.

[Anonymous]

You need to read about the causes of inflation and Demand Pull. It can be caused by a fast reduction in supply of goods OR it can be caused by a oversupply of cash.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Biden’s economy is horrendous.

And yet, it is better than the one he inherited and it is better than any other in the world.

Ok. I guess your mom does your shopping and doesn’t tell the basement dweller how high the grocery bill is now. You are literally bananas if you think the economy is better. Jobs being created are mostly government jobs and low paying part time. Real wages have decreased in terms of buying power. And everything costs significantly more every single month than it did the month before. 3 percent inflation in March is just the amount prices went up in that month alone. Every month inflation has been over 3 percent. It has been very high. And when housing and food are factored in (which the government doesn’t include) the number is much much higher. Again. Remove head from sand.

[Anonymous]

Anonymous wrote:Another day, another sign of pending economic doom as Q1 2024 bank earnings (JP Morgan and Wells Fargo) tanked...

You all have been saying this every day since January 20, 2021.