Biden’s economy
![[Post New]](/jforum/templates/default/images/icon_minipost_new.gif){kind=icon}
Anonymous
|
What do the people who think today's job numbers are good for Biden have to say about the pending 282 bank failures forthcoming?
https://www.cnbc.com/2024/05/01/why-hundreds-of-us-banks-may-be-at-risk-of-failure.html |
Anonymous
Did you read the article? It says that the banks are "not close to insolvent". And most of them are small banks. |
Anonymous
Anonymous
|
April Jobs Report:
FACT: Under Biden, more foreign-born workers have joined the labor force than native-born American workers. FACT: 777K+ more Americans are unemployed than one year ago. FACT: Overall unemployment is at its highest in 2+ years, with unemployment increasing among Hispanic Americans, Asian Americans, veterans, and Americans without high school diplomas in April. FACT: Permanent job losses and temporary layoffs both shot up last month — as did the number of Americans with part-time jobs for economic reasons and the number of long-term unemployed Americans. FACT: Labor force participation still remains FAR below pre-pandemic levels. The only way back to prosperity is re-electing President Donald J. Trump |
Anonymous
These are all signs of the labor market cooling, which is what the Fed is doing with its higher rates. This is not a bad thing. The economy was red hot after the pandemic ended |
Anonymous
|
Everybody knows the economy is a wreck totally supported by exponential borrowing by the federal government. The largest debt and trade deficit on earth by exponential amounts is the definition of a basket case. No wonder the world wants out of the reserve dollar. If that ever happens the US standard of living implodes instantly instead of being rapidly eroding like now. |
Anonymous
Anonymous
Yup, the day dollar stops being the reserve currency, we are done. |
Anonymous
No crap. Boomers are retiring in droves and they are nearly all domestic born. Just imagine what would happen to inflation - prices and wages - if we didn't have the growth in foreign born workers? 
The Boomers leaving the work force is inherently inflationary unless you import new labor to match every Boomer leaving the work force. And even then you still have inflation, because you now have more people chasing the same housing, needing food, etc. |
Anonymous
It’s all we have. We’ve abused the privilege of being permitted to print money and export inflation. We have become totally dependent on it and Biden’s Russian sanctions created a worldwide rush to ditch the dollar. Nobody wants the US to have that power over them. |
Anonymous
Debt as % of GDP has largely been declining since Biden came into office: https://fred.stlouisfed.org/series/GFDEGDQ188S It peaked during Trump as a result of COVID. Debt-to-GDP for the US is historically high, however it is below other G20 nations like Japan, Singapore, and Italy. Japanese Yen is also a 'reserve currency' and they've had a ratio north of 200% for 15 years without a run from the Yen. https://tradingeconomics.com/country-list/government-debt-to-gdp?continent=g20 |
Anonymous
The narrative is so crazy, this was clearly a very good jobs report. 175k is a very good number, especially this deep into an expansion. Eventually you run out of people to employ, population growth is very slow. |
Anonymous
Japan has a trade surplus. They produce far better than our basket case economy with massive fiscal deficits at all levels Feds, states and households and the largest trade deficit on earth by exponential amounts. |
Anonymous
The billionaire media owners want the GOP back. They’ve been like this from the point of the Afghanistan withdrawal and critical thinking on it says that the fact that the media owners are also in the business of arms says why. |
Anonymous
Labor force participation is at record highs. Much higher than at any time during Trump, this much is clear, see chart above! |
