Biden’s economy

[Anonymous]

Real wages have decreased in terms of buying power.

Objectively false.

https://www.project-syndicate.org/commentary/us-tight-labor-market-result-of-worker-friendly-policies-by-arindrajit-dube-2024-02

[Anonymous]

Anonymous wrote:

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.

I actually do my own shopping and yes the items at the grocery store are very expensive. I also notice that there has been a further consolidation of brand ownership and record profits among those brands and the grocery store chains.

That is a follow on from the economic shock and recovery associated with COVID.

Do you dispute that the US economy is the best in the world and that inflation is the lowest in the world other than Japan? Because those are facts.

[Anonymous]

Anonymous wrote:

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.

Are you sure you understand how inflation is measured?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

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.

I actually do my own shopping and yes the items at the grocery store are very expensive. I also notice that there has been a further consolidation of brand ownership and record profits among those brands and the grocery store chains.

That is a follow on from the economic shock and recovery associated with COVID.

Do you dispute that the US economy is the best in the world and that inflation is the lowest in the world other than Japan? Because those are facts.

Our economy is better than other countries. We are the giant among pygmies but we aren’t very tall right now. And our economy is the reserve currency (for now) for most countries but we are going to ruin our standing. Watch the bond market. And the issue is that things are NOT getting better. Our president thinks things are. He is moving ahead with banning sales of LNG. He is pushing ahead with student loan bail outs. Both have detrimental impact on the economy. He is either completely unsympathetic or he is oblivious. Neither is a great look.

[Anonymous]

Economics is more of a science than an art. Anyone here who is saying they know the causes of inflation is just making their best guess. It is much more likely it is a confluence of both demand and supply side factors. The main point for Biden, however, is less about the reality of his economy (which is only truly known in hindsight) and more about voters' perception.

From this thread it seems it's 50/50 on how well he is doing.

[Anonymous]

You can't make this up: People are now buying gold bars at the Costco self checkout.

Costco is selling over $200 million of gold bars every month.

But don't worry, the economy is "strong."

[Anonymous]

Anonymous wrote:You can't make this up: People are now buying gold bars at the Costco self checkout.

Costco is selling over $200 million of gold bars every month.

But don't worry, the economy is "strong."

Most of us collectively survived the Trump presidency. That set the bar for "you can't make this up". This is...somewhere a bit south of 'yawn'.

[Anonymous]

Anonymous wrote:You can't make this up: People are now buying gold bars at the Costco self checkout.

Costco is selling over $200 million of gold bars every month.

But don't worry, the economy is "strong."

They have money, how else will they buy the gold bars?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

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.

I actually do my own shopping and yes the items at the grocery store are very expensive. I also notice that there has been a further consolidation of brand ownership and record profits among those brands and the grocery store chains.

That is a follow on from the economic shock and recovery associated with COVID.

Do you dispute that the US economy is the best in the world and that inflation is the lowest in the world other than Japan? Because those are facts.

Our economy is better than other countries. We are the giant among pygmies but we aren’t very tall right now. And our economy is the reserve currency (for now) for most countries but we are going to ruin our standing. Watch the bond market. And the issue is that things are NOT getting better. Our president thinks things are. He is moving ahead with banning sales of LNG. He is pushing ahead with student loan bail outs. Both have detrimental impact on the economy. He is either completely unsympathetic or he is oblivious. Neither is a great look.

he isn't banning sales of LNG. He has put a temporary hold on any future permits being issued. That action does not curtail current sales, nor does it curtail any construction on new terminals where the permits have been issued. This action does not impact anything before like 2029 at the earliest.

Student loan "bail outs" are for people who have been paying off their notes, have paid off the principal and are just working off interest. The country got its money back already. Did you have a problem with the millions of dollars sitting congressmen took in PPP loans and PPP loan forgivness? or the billions being forgiven on PPP loans in general?

If you are going to make misrepresentation of facts to make your arguments, then your arguments fail.

[Anonymous]

Anonymous wrote:

Anonymous wrote:You can't make this up: People are now buying gold bars at the Costco self checkout.

Costco is selling over $200 million of gold bars every month.

But don't worry, the economy is "strong."

They have money, how else will they buy the gold bars?

They have the money to buy gold bars, which seems promising. I'm thinking that PP accidentally hit submit before making their point.

[Anonymous]

Gold all time high...

National debt all time high...

BRICS competting for reserve currency...

DCUM oblivious to this and blames Trump

[Anonymous]

Anonymous wrote:

National debt all time high...

You can say this about every President. Your point?

[Anonymous]

Anonymous wrote:You can't make this up: People are now buying gold bars at the Costco self checkout.

Costco is selling over $200 million of gold bars every month.

But don't worry, the economy is "strong."

Seems to me there's $200 million a month worth of disposable income for frivolous purchases. From what I hear people only get a portion back on those gold bars, not exactly the big investment they are touted to be.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

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.

I actually do my own shopping and yes the items at the grocery store are very expensive. I also notice that there has been a further consolidation of brand ownership and record profits among those brands and the grocery store chains.

That is a follow on from the economic shock and recovery associated with COVID.

Do you dispute that the US economy is the best in the world and that inflation is the lowest in the world other than Japan? Because those are facts.

Our economy is better than other countries. We are the giant among pygmies but we aren’t very tall right now. And our economy is the reserve currency (for now) for most countries but we are going to ruin our standing. Watch the bond market. And the issue is that things are NOT getting better. Our president thinks things are. He is moving ahead with banning sales of LNG. He is pushing ahead with student loan bail outs. Both have detrimental impact on the economy. He is either completely unsympathetic or he is oblivious. Neither is a great look.

he isn't banning sales of LNG. He has put a temporary hold on any future permits being issued. That action does not curtail current sales, nor does it curtail any construction on new terminals where the permits have been issued. This action does not impact anything before like 2029 at the earliest.

Student loan "bail outs" are for people who have been paying off their notes, have paid off the principal and are just working off interest. The country got its money back already. Did you have a problem with the millions of dollars sitting congressmen took in PPP loans and PPP loan forgivness? or the billions being forgiven on PPP loans in general?

If you are going to make misrepresentation of facts to make your arguments, then your arguments fail.

90% of companies that got PPP loans were forgiven/bailed out. Fine to give away money and forgive loans to established companies but screw the people going to college to gain skills that they could use to start a new company. Pulling-up-of-ladders over and over and over again.

[Anonymous]

Anonymous wrote:Gold all time high...

National debt all time high...

BRICS competting for reserve currency...

DCUM oblivious to this and blames Trump

Trump ballooned the debt by 25% with zero benefit to the country or the taxpayers.

and BRICS is being elevated because the GOP are russian assets now.