Biden’s economy

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Fun / shocking stat of the day:

$2.1 TRILLION of excess savings have been wiped out of the US economy since August 2021. From March 2020 until August 2021, $2.1 trillion in excess savings were built up after $4 trillion of stimulus.

Since then, US households have depleted these savings at a pace of ~$70 billion per month down to a -$72 billion in March 2024.

At the same time, US credit card debt has risen by $330 billion to a record $1.1 trillion.

Meanwhile, savings rates in the US declined from 3.5% in February to 3.2% in March, the lowest since November 2022.

Savings are now considered a luxury.

Maybe people should be saving more rather than spending. Bootstraps and all, right?

….as basic food and gas prices are skyrocketing. You exist in an elite little bubble, PP.

+1

I and everyone else should believe it when Biden tells us it's not a problem, even though everyone is living it everyday. Yep.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Fun / shocking stat of the day:

$2.1 TRILLION of excess savings have been wiped out of the US economy since August 2021. From March 2020 until August 2021, $2.1 trillion in excess savings were built up after $4 trillion of stimulus.

Since then, US households have depleted these savings at a pace of ~$70 billion per month down to a -$72 billion in March 2024.

At the same time, US credit card debt has risen by $330 billion to a record $1.1 trillion.

Meanwhile, savings rates in the US declined from 3.5% in February to 3.2% in March, the lowest since November 2022.

Savings are now considered a luxury.

Maybe people should be saving more rather than spending. Bootstraps and all, right?

….as basic food and gas prices are skyrocketing. You exist in an elite little bubble, PP.

Then why aren’t people cutting back? If gas is so expensive why do you sit in your car and just idle while waiting? Why all the food waste?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Fun / shocking stat of the day:

$2.1 TRILLION of excess savings have been wiped out of the US economy since August 2021. From March 2020 until August 2021, $2.1 trillion in excess savings were built up after $4 trillion of stimulus.

Since then, US households have depleted these savings at a pace of ~$70 billion per month down to a -$72 billion in March 2024.

At the same time, US credit card debt has risen by $330 billion to a record $1.1 trillion.

Meanwhile, savings rates in the US declined from 3.5% in February to 3.2% in March, the lowest since November 2022.

Savings are now considered a luxury.

Maybe people should be saving more rather than spending. Bootstraps and all, right?

….as basic food and gas prices are skyrocketing. You exist in an elite little bubble, PP.

Then why aren’t people cutting back? If gas is so expensive why do you sit in your car and just idle while waiting? Why all the food waste?

People are cutting back...

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Fun / shocking stat of the day:

$2.1 TRILLION of excess savings have been wiped out of the US economy since August 2021. From March 2020 until August 2021, $2.1 trillion in excess savings were built up after $4 trillion of stimulus.

Since then, US households have depleted these savings at a pace of ~$70 billion per month down to a -$72 billion in March 2024.

At the same time, US credit card debt has risen by $330 billion to a record $1.1 trillion.

Meanwhile, savings rates in the US declined from 3.5% in February to 3.2% in March, the lowest since November 2022.

Savings are now considered a luxury.

Maybe people should be saving more rather than spending. Bootstraps and all, right?

….as basic food and gas prices are skyrocketing. You exist in an elite little bubble, PP.

Then why aren’t people cutting back? If gas is so expensive why do you sit in your car and just idle while waiting? Why all the food waste?

People are cutting back...

How do Trump and the GOP plan to address any of this? Please enlighten what their plans to improve people's lives economically.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Fun / shocking stat of the day:

$2.1 TRILLION of excess savings have been wiped out of the US economy since August 2021. From March 2020 until August 2021, $2.1 trillion in excess savings were built up after $4 trillion of stimulus.

Since then, US households have depleted these savings at a pace of ~$70 billion per month down to a -$72 billion in March 2024.

At the same time, US credit card debt has risen by $330 billion to a record $1.1 trillion.

Meanwhile, savings rates in the US declined from 3.5% in February to 3.2% in March, the lowest since November 2022.

Savings are now considered a luxury.

Maybe people should be saving more rather than spending. Bootstraps and all, right?

….as basic food and gas prices are skyrocketing. You exist in an elite little bubble, PP.

Then why aren’t people cutting back? If gas is so expensive why do you sit in your car and just idle while waiting? Why all the food waste?

People are cutting back...

How do Trump and the GOP plan to address any of this? Please enlighten what their plans to improve people's lives economically.

Biden had his turn. The inflation reduction act led to skyrocketing inflation that democrats insist isn't a problem. Am I supposed to trust the group with their heads in the sand to fix it?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Fun / shocking stat of the day:

$2.1 TRILLION of excess savings have been wiped out of the US economy since August 2021. From March 2020 until August 2021, $2.1 trillion in excess savings were built up after $4 trillion of stimulus.

Since then, US households have depleted these savings at a pace of ~$70 billion per month down to a -$72 billion in March 2024.

At the same time, US credit card debt has risen by $330 billion to a record $1.1 trillion.

Meanwhile, savings rates in the US declined from 3.5% in February to 3.2% in March, the lowest since November 2022.

Savings are now considered a luxury.

Maybe people should be saving more rather than spending. Bootstraps and all, right?

….as basic food and gas prices are skyrocketing. You exist in an elite little bubble, PP.

Then why aren’t people cutting back? If gas is so expensive why do you sit in your car and just idle while waiting? Why all the food waste?

People are cutting back...

How do Trump and the GOP plan to address any of this? Please enlighten what their plans to improve people's lives economically.

Biden had his turn. The inflation reduction act led to skyrocketing inflation that democrats insist isn't a problem. Am I supposed to trust the group with their heads in the sand to fix it?

+1 I remember his insistence that the inflation was “transitory.” Why should I trust him to fix it when he didn’t even recognize the problem for so long?

[Anonymous]

Just keep giving out more handouts.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Fun / shocking stat of the day:

$2.1 TRILLION of excess savings have been wiped out of the US economy since August 2021. From March 2020 until August 2021, $2.1 trillion in excess savings were built up after $4 trillion of stimulus.

Since then, US households have depleted these savings at a pace of ~$70 billion per month down to a -$72 billion in March 2024.

At the same time, US credit card debt has risen by $330 billion to a record $1.1 trillion.

Meanwhile, savings rates in the US declined from 3.5% in February to 3.2% in March, the lowest since November 2022.

Savings are now considered a luxury.

Maybe people should be saving more rather than spending. Bootstraps and all, right?

….as basic food and gas prices are skyrocketing. You exist in an elite little bubble, PP.

Then why aren’t people cutting back? If gas is so expensive why do you sit in your car and just idle while waiting? Why all the food waste?

People are cutting back...

How do Trump and the GOP plan to address any of this? Please enlighten what their plans to improve people's lives economically.

Biden had his turn. The inflation reduction act led to skyrocketing inflation that democrats insist isn't a problem. Am I supposed to trust the group with their heads in the sand to fix it?

The IRA kept inflation where it is. It is far worse everywhere else in the world. What would the GOP plan for inflation be? And please don't suggest fiscal restraint, because that has not been a hallmark of the GOP since the 1950's.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Fun / shocking stat of the day:

$2.1 TRILLION of excess savings have been wiped out of the US economy since August 2021. From March 2020 until August 2021, $2.1 trillion in excess savings were built up after $4 trillion of stimulus.

Since then, US households have depleted these savings at a pace of ~$70 billion per month down to a -$72 billion in March 2024.

At the same time, US credit card debt has risen by $330 billion to a record $1.1 trillion.

Meanwhile, savings rates in the US declined from 3.5% in February to 3.2% in March, the lowest since November 2022.

Savings are now considered a luxury.

Maybe people should be saving more rather than spending. Bootstraps and all, right?

….as basic food and gas prices are skyrocketing. You exist in an elite little bubble, PP.

Then why aren’t people cutting back? If gas is so expensive why do you sit in your car and just idle while waiting? Why all the food waste?

People are cutting back...

How do Trump and the GOP plan to address any of this? Please enlighten what their plans to improve people's lives economically.

Biden had his turn. The inflation reduction act led to skyrocketing inflation that democrats insist isn't a problem. Am I supposed to trust the group with their heads in the sand to fix it?

The IRA kept inflation where it is. It is far worse everywhere else in the world. What would the GOP plan for inflation be? And please don't suggest fiscal restraint, because that has not been a hallmark of the GOP since the 1950's.

Inflation is not far worse everywhere else in the world. Just stop with the lies.

https://www.ft.com/content/088d3368-bb8b-4ff3-9df7-a7680d4d81b2

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Fun / shocking stat of the day:

$2.1 TRILLION of excess savings have been wiped out of the US economy since August 2021. From March 2020 until August 2021, $2.1 trillion in excess savings were built up after $4 trillion of stimulus.

Since then, US households have depleted these savings at a pace of ~$70 billion per month down to a -$72 billion in March 2024.

At the same time, US credit card debt has risen by $330 billion to a record $1.1 trillion.

Meanwhile, savings rates in the US declined from 3.5% in February to 3.2% in March, the lowest since November 2022.

Savings are now considered a luxury.

Maybe people should be saving more rather than spending. Bootstraps and all, right?

….as basic food and gas prices are skyrocketing. You exist in an elite little bubble, PP.

Then why aren’t people cutting back? If gas is so expensive why do you sit in your car and just idle while waiting? Why all the food waste?

People are cutting back...

How do Trump and the GOP plan to address any of this? Please enlighten what their plans to improve people's lives economically.

I have no idea what Trump’s plan is, I was just responding to your statement. It’s simply untrue to say people are not cutting back.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Fun / shocking stat of the day:

$2.1 TRILLION of excess savings have been wiped out of the US economy since August 2021. From March 2020 until August 2021, $2.1 trillion in excess savings were built up after $4 trillion of stimulus.

Since then, US households have depleted these savings at a pace of ~$70 billion per month down to a -$72 billion in March 2024.

At the same time, US credit card debt has risen by $330 billion to a record $1.1 trillion.

Meanwhile, savings rates in the US declined from 3.5% in February to 3.2% in March, the lowest since November 2022.

Savings are now considered a luxury.

Maybe people should be saving more rather than spending. Bootstraps and all, right?

….as basic food and gas prices are skyrocketing. You exist in an elite little bubble, PP.

Then why aren’t people cutting back? If gas is so expensive why do you sit in your car and just idle while waiting? Why all the food waste?

People are cutting back...

How do Trump and the GOP plan to address any of this? Please enlighten what their plans to improve people's lives economically.

I have no idea what Trump’s plan is, I was just responding to your statement. It’s simply untrue to say people are not cutting back.

You think people are buying less stuff? There is this thing called real GDP per capita which tells a different story. In aggregate people are buying more stuff than ever before.

[Anonymous]

Productivity is a key to fighting inflation. Biden should call all of the loafer jack asses in the government to get back to work and produce. I know they don’t matter and can’t really produce anything of value but they should be back to work none the less.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Fun / shocking stat of the day:

$2.1 TRILLION of excess savings have been wiped out of the US economy since August 2021. From March 2020 until August 2021, $2.1 trillion in excess savings were built up after $4 trillion of stimulus.

Since then, US households have depleted these savings at a pace of ~$70 billion per month down to a -$72 billion in March 2024.

At the same time, US credit card debt has risen by $330 billion to a record $1.1 trillion.

Meanwhile, savings rates in the US declined from 3.5% in February to 3.2% in March, the lowest since November 2022.

Savings are now considered a luxury.

Maybe people should be saving more rather than spending. Bootstraps and all, right?

….as basic food and gas prices are skyrocketing. You exist in an elite little bubble, PP.

Then why aren’t people cutting back? If gas is so expensive why do you sit in your car and just idle while waiting? Why all the food waste?

People are cutting back...

How do Trump and the GOP plan to address any of this? Please enlighten what their plans to improve people's lives economically.

I have no idea what Trump’s plan is, I was just responding to your statement. It’s simply untrue to say people are not cutting back.

You think people are buying less stuff? There is this thing called real GDP per capita which tells a different story. In aggregate people are buying more stuff than ever before.

When you hand out free money, people spend more.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Fun / shocking stat of the day:

$2.1 TRILLION of excess savings have been wiped out of the US economy since August 2021. From March 2020 until August 2021, $2.1 trillion in excess savings were built up after $4 trillion of stimulus.

Since then, US households have depleted these savings at a pace of ~$70 billion per month down to a -$72 billion in March 2024.

At the same time, US credit card debt has risen by $330 billion to a record $1.1 trillion.

Meanwhile, savings rates in the US declined from 3.5% in February to 3.2% in March, the lowest since November 2022.

Savings are now considered a luxury.

Maybe people should be saving more rather than spending. Bootstraps and all, right?

….as basic food and gas prices are skyrocketing. You exist in an elite little bubble, PP.

Then why aren’t people cutting back? If gas is so expensive why do you sit in your car and just idle while waiting? Why all the food waste?

People are cutting back...

How do Trump and the GOP plan to address any of this? Please enlighten what their plans to improve people's lives economically.

I have no idea what Trump’s plan is, I was just responding to your statement. It’s simply untrue to say people are not cutting back.

You think people are buying less stuff? There is this thing called real GDP per capita which tells a different story. In aggregate people are buying more stuff than ever before.

When you hand out free money, people spend more.

Well, at least you changed your story from nobody has money to everyone has money but it was given to them.

[Anonymous]

Another day, another bad report for Biden as April's PPI (expected at 0.3%) came in at 0.5%. Let's go Brandon!