Biden’s economy

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:While CPI inflation is at 3.5%, inflation is much higher in many basic necessities:

1. Car Insurance Inflation: 22.2%
2. Transportation Inflation: 10.7%
3. Car Repair Inflation: 8.2%
4. Hospital Services Inflation: 7.5%
5. Homeowner Inflation: 5.9%
6. Rent Inflation: 5.7%
7. Electricity Inflation: 5.0%
8. Food Away From Home Inflation: 4.2%

Both Core CPI and headline CPI came in hotter than expectations. This is FOURTH straight month with both readings being hotter than expected.

We now have all major inflation metrics back on the rise and oil prices are nearly $90.

Affordability is still getting worse... FOUR MORE YEARS!

What’s Trump’s solution to this?

Tariffs. It's the only thing he talks about. Of course, he doesn't understand tariffs and will simultaneously kill the stock market and raise inflation even more.

Trump is such an economic illiterate (WTF Wharton?) that he doesn’t know that his tariffs are tax increases on American consumers, no different than raising the gas tax or other excise taxes or sales taxes, except worse because tariffs blow up supply chains and incentivize retaliatory tariffs on American exports, especially agricultural products. He still thinks that China paid the tariffs on the imported goods that Americans bought from them.

Ahem.

Oil and gas companies must pay more to drill on federal lands under new Biden administration rule

https://apnews.com/article/oil-gas-drilling-public-lands-interior-climate-ffc88438d6f9c5d48e9a8fc7cffc749a

Did you read the article? Are you saying this is a bad thing?

I'm saying as gas prices rise again, Biden is to blame.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:While CPI inflation is at 3.5%, inflation is much higher in many basic necessities:

1. Car Insurance Inflation: 22.2%
2. Transportation Inflation: 10.7%
3. Car Repair Inflation: 8.2%
4. Hospital Services Inflation: 7.5%
5. Homeowner Inflation: 5.9%
6. Rent Inflation: 5.7%
7. Electricity Inflation: 5.0%
8. Food Away From Home Inflation: 4.2%

Both Core CPI and headline CPI came in hotter than expectations. This is FOURTH straight month with both readings being hotter than expected.

We now have all major inflation metrics back on the rise and oil prices are nearly $90.

Affordability is still getting worse... FOUR MORE YEARS!

What’s Trump’s solution to this?

Tariffs. It's the only thing he talks about. Of course, he doesn't understand tariffs and will simultaneously kill the stock market and raise inflation even more.

Trump is such an economic illiterate (WTF Wharton?) that he doesn’t know that his tariffs are tax increases on American consumers, no different than raising the gas tax or other excise taxes or sales taxes, except worse because tariffs blow up supply chains and incentivize retaliatory tariffs on American exports, especially agricultural products. He still thinks that China paid the tariffs on the imported goods that Americans bought from them.

Ahem.

Oil and gas companies must pay more to drill on federal lands under new Biden administration rule

https://apnews.com/article/oil-gas-drilling-public-lands-interior-climate-ffc88438d6f9c5d48e9a8fc7cffc749a

Did you read the article? Are you saying this is a bad thing?

I'm saying as gas prices rise again, Biden is to blame.

I suppose he could force a pandemic and economic collapse to bring gas prices down the way Trump did?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:While CPI inflation is at 3.5%, inflation is much higher in many basic necessities:

1. Car Insurance Inflation: 22.2%
2. Transportation Inflation: 10.7%
3. Car Repair Inflation: 8.2%
4. Hospital Services Inflation: 7.5%
5. Homeowner Inflation: 5.9%
6. Rent Inflation: 5.7%
7. Electricity Inflation: 5.0%
8. Food Away From Home Inflation: 4.2%

Both Core CPI and headline CPI came in hotter than expectations. This is FOURTH straight month with both readings being hotter than expected.

We now have all major inflation metrics back on the rise and oil prices are nearly $90.

Affordability is still getting worse... FOUR MORE YEARS!

What’s Trump’s solution to this?

Tariffs. It's the only thing he talks about. Of course, he doesn't understand tariffs and will simultaneously kill the stock market and raise inflation even more.

Trump is such an economic illiterate (WTF Wharton?) that he doesn’t know that his tariffs are tax increases on American consumers, no different than raising the gas tax or other excise taxes or sales taxes, except worse because tariffs blow up supply chains and incentivize retaliatory tariffs on American exports, especially agricultural products. He still thinks that China paid the tariffs on the imported goods that Americans bought from them.

Ahem.

Oil and gas companies must pay more to drill on federal lands under new Biden administration rule

https://apnews.com/article/oil-gas-drilling-public-lands-interior-climate-ffc88438d6f9c5d48e9a8fc7cffc749a

Did you read the article? Are you saying this is a bad thing?

I'm saying as gas prices rise again, Biden is to blame.

I suppose he could force a pandemic and economic collapse to bring gas prices down the way Trump did?

Stop spinning. You're doing a piss-poor job of it.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:While CPI inflation is at 3.5%, inflation is much higher in many basic necessities:

1. Car Insurance Inflation: 22.2%
2. Transportation Inflation: 10.7%
3. Car Repair Inflation: 8.2%
4. Hospital Services Inflation: 7.5%
5. Homeowner Inflation: 5.9%
6. Rent Inflation: 5.7%
7. Electricity Inflation: 5.0%
8. Food Away From Home Inflation: 4.2%

Both Core CPI and headline CPI came in hotter than expectations. This is FOURTH straight month with both readings being hotter than expected.

We now have all major inflation metrics back on the rise and oil prices are nearly $90.

Affordability is still getting worse... FOUR MORE YEARS!

What’s Trump’s solution to this?

Tariffs. It's the only thing he talks about. Of course, he doesn't understand tariffs and will simultaneously kill the stock market and raise inflation even more.

Trump is such an economic illiterate (WTF Wharton?) that he doesn’t know that his tariffs are tax increases on American consumers, no different than raising the gas tax or other excise taxes or sales taxes, except worse because tariffs blow up supply chains and incentivize retaliatory tariffs on American exports, especially agricultural products. He still thinks that China paid the tariffs on the imported goods that Americans bought from them.

Ahem.

Oil and gas companies must pay more to drill on federal lands under new Biden administration rule

https://apnews.com/article/oil-gas-drilling-public-lands-interior-climate-ffc88438d6f9c5d48e9a8fc7cffc749a

Did you read the article? Are you saying this is a bad thing?

I'm saying as gas prices rise again, Biden is to blame.

I suppose he could force a pandemic and economic collapse to bring gas prices down the way Trump did?

Stop spinning. You're doing a piss-poor job of it.

This whole thread is anti-Biden spinning. All the good US economic news is countered with "whadabout global inflation?"

[Anonymous]

Speaking of spinning...

US mortgage demand in March fell to its lowest since 1995, according to Reventure. Mortgage demand is now 43% below its recent peak and ~16% below the post-2008 lows.

Meanwhile, the average payment on a new mortgage is now nearly $2,800/month.


Trumps fault?
This means that the average American household would spend ~45% of their PRE-TAX income on a new mortgage payment.

On a post-tax basis, it's over 60% and this doesn't even include taxes, insurance, and maintenance.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote: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.

Anyone who's claimed "it's purely supply and demand" has failed to show any evidence of how supply is so much drastically lower, or that consumption somehow had a sudden vast increase - or that there's a combination of these that could credibly account for the price. Yet we CAN see that corporate profits have gone up significantly.

Corporate profits? Yeah, that tends to happen when you drop tax payer money by the pallets on Pfizer, Moderna, solar panel and wind turbine manufacturers and other "causes". Is this a surprise to you?

Why is inflation a global phenomenon then? You keep trying to tie this to Biden's policies while the U.S. has recovered faster and better and has lower inflation than just about any country coming out of the pandemic in the developed world. Please explain why the rest of the world when you decide to critique the U.S.

No, here in the U.S., they lie about it and massage the numbers. Inflation is much higher than the U.S. government tells you it is.

To get even close to the real number here, you have to read 50 pages of fine print (if they even print it).

Exactly.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote: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.

Anyone who's claimed "it's purely supply and demand" has failed to show any evidence of how supply is so much drastically lower, or that consumption somehow had a sudden vast increase - or that there's a combination of these that could credibly account for the price. Yet we CAN see that corporate profits have gone up significantly.

Corporate profits? Yeah, that tends to happen when you drop tax payer money by the pallets on Pfizer, Moderna, solar panel and wind turbine manufacturers and other "causes". Is this a surprise to you?

Why is inflation a global phenomenon then? You keep trying to tie this to Biden's policies while the U.S. has recovered faster and better and has lower inflation than just about any country coming out of the pandemic in the developed world. Please explain why the rest of the world when you decide to critique the U.S.

No, here in the U.S., they lie about it and massage the numbers. Inflation is much higher than the U.S. government tells you it is.

To get even close to the real number here, you have to read 50 pages of fine print (if they even print it).

Exactly.

Exactly what? The PP made absolutely no sense.

[Anonymous]

Anonymous wrote:Speaking of spinning...

US mortgage demand in March fell to its lowest since 1995, according to Reventure. Mortgage demand is now 43% below its recent peak and ~16% below the post-2008 lows.

Meanwhile, the average payment on a new mortgage is now nearly $2,800/month.


Trumps fault?
This means that the average American household would spend ~45% of their PRE-TAX income on a new mortgage payment.

On a post-tax basis, it's over 60% and this doesn't even include taxes, insurance, and maintenance.

That’s how capitalism works. Interest rates are up and housing prices are up so demand for mortgages is down. No homeowners are refinancing. If you ever took an Econ course you would know that this is self-correcting if you prevent fraud but otherwise let markets do what they do.

[Anonymous]

Anonymous wrote:Speaking of spinning...

US mortgage demand in March fell to its lowest since 1995, according to Reventure. Mortgage demand is now 43% below its recent peak and ~16% below the post-2008 lows.

Meanwhile, the average payment on a new mortgage is now nearly $2,800/month.


Trumps fault?
This means that the average American household would spend ~45% of their PRE-TAX income on a new mortgage payment.

On a post-tax basis, it's over 60% and this doesn't even include taxes, insurance, and maintenance.

There isn't enough housing, so it is more expensive. We have global inflation, so interest rates are up. Boomers are aging and not downsizing.

There are a lot of reasons for what is happening.

The Biden Administration is providing block grants to states for more affordable housing and is offering mortgage incentives for first time home buyers.

What is the GOP solution?

[Anonymous]

Anonymous wrote:

Anonymous wrote:Speaking of spinning...

US mortgage demand in March fell to its lowest since 1995, according to Reventure. Mortgage demand is now 43% below its recent peak and ~16% below the post-2008 lows.

Meanwhile, the average payment on a new mortgage is now nearly $2,800/month.


Trumps fault?
This means that the average American household would spend ~45% of their PRE-TAX income on a new mortgage payment.

On a post-tax basis, it's over 60% and this doesn't even include taxes, insurance, and maintenance.

There isn't enough housing, so it is more expensive. We have global inflation, so interest rates are up. Boomers are aging and not downsizing.

There are a lot of reasons for what is happening.

The Biden Administration is providing block grants to states for more affordable housing and is offering mortgage incentives for first time home buyers.

What is the GOP solution?

Where does the Biden Administration get the money for block grants?

[Anonymous]

Government spending is down this fiscal year compared to last year except for interest on the debt which is the mandatory cost of financing all the debt accumulated by the big deficits since Reagan blew up budget discipline. Republicans have not paid for any of their policies since 1981.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Speaking of spinning...

US mortgage demand in March fell to its lowest since 1995, according to Reventure. Mortgage demand is now 43% below its recent peak and ~16% below the post-2008 lows.

Meanwhile, the average payment on a new mortgage is now nearly $2,800/month.


Trumps fault?
This means that the average American household would spend ~45% of their PRE-TAX income on a new mortgage payment.

On a post-tax basis, it's over 60% and this doesn't even include taxes, insurance, and maintenance.

There isn't enough housing, so it is more expensive. We have global inflation, so interest rates are up. Boomers are aging and not downsizing.

There are a lot of reasons for what is happening.

The Biden Administration is providing block grants to states for more affordable housing and is offering mortgage incentives for first time home buyers.

What is the GOP solution?

Where does the Biden Administration get the money for block grants?

In the bills passed over the first two years that the GOP uniformly opposed.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Speaking of spinning...

US mortgage demand in March fell to its lowest since 1995, according to Reventure. Mortgage demand is now 43% below its recent peak and ~16% below the post-2008 lows.

Meanwhile, the average payment on a new mortgage is now nearly $2,800/month.


Trumps fault?
This means that the average American household would spend ~45% of their PRE-TAX income on a new mortgage payment.

On a post-tax basis, it's over 60% and this doesn't even include taxes, insurance, and maintenance.

There isn't enough housing, so it is more expensive. We have global inflation, so interest rates are up. Boomers are aging and not downsizing.

There are a lot of reasons for what is happening.

The Biden Administration is providing block grants to states for more affordable housing and is offering mortgage incentives for first time home buyers.

What is the GOP solution?

Where does the Biden Administration get the money for block grants?

In the bills passed over the first two years that the GOP uniformly opposed.

I did not ask you the mechanism. I asked you where do they get the money from?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Speaking of spinning...

US mortgage demand in March fell to its lowest since 1995, according to Reventure. Mortgage demand is now 43% below its recent peak and ~16% below the post-2008 lows.

Meanwhile, the average payment on a new mortgage is now nearly $2,800/month.


Trumps fault?
This means that the average American household would spend ~45% of their PRE-TAX income on a new mortgage payment.

On a post-tax basis, it's over 60% and this doesn't even include taxes, insurance, and maintenance.

There isn't enough housing, so it is more expensive. We have global inflation, so interest rates are up. Boomers are aging and not downsizing.

There are a lot of reasons for what is happening.

The Biden Administration is providing block grants to states for more affordable housing and is offering mortgage incentives for first time home buyers.

What is the GOP solution?

Where does the Biden Administration get the money for block grants?

In the bills passed over the first two years that the GOP uniformly opposed.

I did not ask you the mechanism. I asked you where do they get the money from?

You don't know? You should really take a 101 course before trying to participate here.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Speaking of spinning...

US mortgage demand in March fell to its lowest since 1995, according to Reventure. Mortgage demand is now 43% below its recent peak and ~16% below the post-2008 lows.

Meanwhile, the average payment on a new mortgage is now nearly $2,800/month.


Trumps fault?
This means that the average American household would spend ~45% of their PRE-TAX income on a new mortgage payment.

On a post-tax basis, it's over 60% and this doesn't even include taxes, insurance, and maintenance.

There isn't enough housing, so it is more expensive. We have global inflation, so interest rates are up. Boomers are aging and not downsizing.

There are a lot of reasons for what is happening.

The Biden Administration is providing block grants to states for more affordable housing and is offering mortgage incentives for first time home buyers.

What is the GOP solution?

Where does the Biden Administration get the money for block grants?

In the bills passed over the first two years that the GOP uniformly opposed.

I did not ask you the mechanism. I asked you where do they get the money from?

You don't know? You should really take a 101 course before trying to participate here.

You actually don't want to answer the question because you know where it comes from.

You have the Biden administration forcing tax payers to subsidize housing because the only way he can win elections is to bribe segments of his voter base with other people's money.