Biden’s economy

[Anonymous]

Anonymous wrote:Never truer words have be spoken

Too bad the House GOP isn’t coming up with bills to address this instead of scurrying up to New York to hold Trump’s hand

[Anonymous]

Adjust Dow 40,000 in nominal dollars for the 19.866% cumulative inflation since Biden took office and you get Dow 32,054 in real dollars. The Dow closed at 31,188 on January 20, 2021. 32,054 / 31,188 = 2.78% cumulative gain or < 1% a year over the 3 1/3 years.

[Anonymous]

Anonymous wrote:Adjust Dow 40,000 in nominal dollars for the 19.866% cumulative inflation since Biden took office and you get Dow 32,054 in real dollars. The Dow closed at 31,188 on January 20, 2021. 32,054 / 31,188 = 2.78% cumulative gain or < 1% a year over the 3 1/3 years.

Mmmhmmmmmm. Cite please maga?

[Anonymous]

Anonymous wrote:

Anonymous wrote:Adjust Dow 40,000 in nominal dollars for the 19.866% cumulative inflation since Biden took office and you get Dow 32,054 in real dollars. The Dow closed at 31,188 on January 20, 2021. 32,054 / 31,188 = 2.78% cumulative gain or < 1% a year over the 3 1/3 years.

Mmmhmmmmmm. Cite please maga?

Cite? You want them to link cites with the DJ historical numbers? Just Google Dow Jones Index and the first thing that pops up is a graph that you can set to five years and then locate the DJ for particular dates. Adjust for the inflation factor, which you can also find on line.

All the information you need is readily available, you just need to do the math, which PP did for you. This does not require a cite to an article.

[Anonymous]

Anonymous wrote:Adjust Dow 40,000 in nominal dollars for the 19.866% cumulative inflation since Biden took office and you get Dow 32,054 in real dollars. The Dow closed at 31,188 on January 20, 2021. 32,054 / 31,188 = 2.78% cumulative gain or < 1% a year over the 3 1/3 years.

I have seen a lot of BS on these boards over the years, but this particular post may be in the top three all time for DCUM.

[Anonymous]

A Harris poll recently conducted for the UK Guardian newspaper revealed that a majority of Americans have serious misconceptions about the state of the US economy--and they are blaming Biden. Here are some of the things they believe and which are not supported by data:

"The poll highlighted many misconceptions people have about the economy, including:

*55% believe the economy is shrinking, and 56% think the US is experiencing a recession, though the broadest measure of the economy, gross domestic product (GDP), has been growing.

*49% believe the S&P 500 stock market index is down for the year, though the index went up about 24% in 2023 and is up more than 12% this year.

*49% believe that unemployment is at a 50-year high, though the unemployment rate has been under 4%, a near 50-year low.

*The poll underscored people’s complicated emotions around inflation. The vast majority of respondents, 72%, indicated they think inflation is increasing. In reality, the rate of inflation has fallen sharply from its post-Covid peak of 9.1% and has been fluctuating between 3% and 4% a year."


https://www.theguardian.com/us-news/article/2024/may/22/poll-economy-recession-biden

[Anonymous]

Anonymous wrote:A Harris poll recently conducted for the UK Guardian newspaper revealed that a majority of Americans have serious misconceptions about the state of the US economy--and they are blaming Biden. Here are some of the things they believe and which are not supported by data:

"The poll highlighted many misconceptions people have about the economy, including:

*55% believe the economy is shrinking, and 56% think the US is experiencing a recession, though the broadest measure of the economy, gross domestic product (GDP), has been growing.

*49% believe the S&P 500 stock market index is down for the year, though the index went up about 24% in 2023 and is up more than 12% this year.

*49% believe that unemployment is at a 50-year high, though the unemployment rate has been under 4%, a near 50-year low.

*The poll underscored people’s complicated emotions around inflation. The vast majority of respondents, 72%, indicated they think inflation is increasing. In reality, the rate of inflation has fallen sharply from its post-Covid peak of 9.1% and has been fluctuating between 3% and 4% a year."


https://www.theguardian.com/us-news/article/2024/may/22/poll-economy-recession-biden

The American education system, along with the media, has completely failed the republic.

[Anonymous]

Anonymous wrote:Adjust Dow 40,000 in nominal dollars for the 19.866% cumulative inflation since Biden took office and you get Dow 32,054 in real dollars. The Dow closed at 31,188 on January 20, 2021. 32,054 / 31,188 = 2.78% cumulative gain or < 1% a year over the 3 1/3 years.

There's no need to lie.

Inflation adjusted SP500 here:
https://www.multpl.com/inflation-adjusted-s-p-500

From Jan 2021 to today (Biden): 13% real return
From Jan 2017 to Jan 2021 (Trump): 54% real return

Trump returns prior to extraordinary COVID stimulus + monetary easing (Jan 2017 to Jan 2020): 32% real return

[Anonymous]

Anonymous wrote:

Anonymous wrote:Adjust Dow 40,000 in nominal dollars for the 19.866% cumulative inflation since Biden took office and you get Dow 32,054 in real dollars. The Dow closed at 31,188 on January 20, 2021. 32,054 / 31,188 = 2.78% cumulative gain or < 1% a year over the 3 1/3 years.

There's no need to lie.

Inflation adjusted SP500 here:
https://www.multpl.com/inflation-adjusted-s-p-500

From Jan 2021 to today (Biden): 15% real return
From Jan 2017 to Jan 2021 (Trump): 54% real return

Trump returns prior to extraordinary COVID stimulus + monetary easing (Jan 2017 to Jan 2020): 32% real return

Edited in bold.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Adjust Dow 40,000 in nominal dollars for the 19.866% cumulative inflation since Biden took office and you get Dow 32,054 in real dollars. The Dow closed at 31,188 on January 20, 2021. 32,054 / 31,188 = 2.78% cumulative gain or < 1% a year over the 3 1/3 years.

There's no need to lie.

Inflation adjusted SP500 here:
https://www.multpl.com/inflation-adjusted-s-p-500

From Jan 2021 to today (Biden): 13% real return
From Jan 2017 to Jan 2021 (Trump): 54% real return

Trump returns prior to extraordinary COVID stimulus + monetary easing (Jan 2017 to Jan 2020): 32% real return

You understand, as has been stated in this very thread about a hundred times, that the stock market is an indicator of corporate profits, not the US Economy. When companies gouge their customers, as they did at the end of the Trump Administration, during COVID, of course their profits will be up. Trump also basically eliminated corporate taxation, which also drove profits up.

So indeed, the stock market will be up under those conditions, but it is bad for retail investors, for workers, for the environment etc.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Adjust Dow 40,000 in nominal dollars for the 19.866% cumulative inflation since Biden took office and you get Dow 32,054 in real dollars. The Dow closed at 31,188 on January 20, 2021. 32,054 / 31,188 = 2.78% cumulative gain or < 1% a year over the 3 1/3 years.

There's no need to lie.

Inflation adjusted SP500 here:
https://www.multpl.com/inflation-adjusted-s-p-500

From Jan 2021 to today (Biden): 13% real return
From Jan 2017 to Jan 2021 (Trump): 54% real return

Trump returns prior to extraordinary COVID stimulus + monetary easing (Jan 2017 to Jan 2020): 32% real return

You understand, as has been stated in this very thread about a hundred times, that the stock market is an indicator of corporate profits, not the US Economy. When companies gouge their customers, as they did at the end of the Trump Administration, during COVID, of course their profits will be up. Trump also basically eliminated corporate taxation, which also drove profits up.

So indeed, the stock market will be up under those conditions, but it is bad for retail investors, for workers, for the environment etc.

Yep, tax reform in 2017 permanently reduced the corporate tax rate from 35% to 21% and repealed the corporate AMT. If re-elected, he won't have access to this lever again as a way to juice returns.

[Anonymous]

Kroger's profit was up 35.6% from '22 to '23. Publix was up 49% from '22 to '23. That's why Food prices are so high, and is your inflation.

[Anonymous]

Why are these restaurants closing if Bidenomics is working?

[Anonymous]

Anonymous wrote:Why are these restaurants closing if Bidenomics is working?

Democrats want only the biggest corporations to exist. Think how covid mandates allowed Home Depot and Lowe’s to stay open, but mom and pop neighborhood hardware store had to shut down. Total corruption.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Why are these restaurants closing if Bidenomics is working?

Democrats want only the biggest corporations to exist. Think how covid mandates allowed Home Depot and Lowe’s to stay open, but mom and pop neighborhood hardware store had to shut down. Total corruption.

Lol. More projection is always good for a giggle I guess.