Biden’s economy

[Anonymous]

May 24, 2024: Another Massive Revision, This Time Durable Goods, What’s Going On

The Commerce Department revised March durable goods orders from +2.6 percent to +0.8 percent. Now it reports a 0.7 percent gain vs an expectation of -0.5 percent.

May 23, 2024: New Home Sales Sink 4.7 Percent on Top of Huge Negative Revisions

New Home Sales plunged. And the Census Department completely revised away last month’s fictional 8.8 percent rise.

May 22, 2024: Discretionary Spending Tumbles at Target, Shares Drop 10 Percent

Target CEO Brian Cornell said the results show “continued soft trends in discretionary categories.” [The key word above is continued.]

May 22, 2024: Existing-Home Sales Decline 1.9 Percent, Sales Mostly Stagnant for 17 Months

Existing-home sales fell 1.9 percent in April and are also down 1.9 percent from a year ago. Sales have not gone anywhere for 17 months.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:One reason all the surface level thinkers don’t understand why the economy is rightly perceived as bad as very high inflation has been replace by medium inflation and high borrowing costs. If you are rich and buy everything with cash, that doesn’t matter to you. But if you are middle class or lower you need to access credit for most significant purchases. And borrowing costs have skyrocketed. Home improvements, home purchases, car purchases, appliances, etc. all through the roof still.

Everything is. Groceries, utilities, streaming services, internet, clothes….all have skyrocketed due to Bidenomics.

This Regime has bumbled and stumbled and fumbled the economy

Explain how. Explain how Bidenomics has caused inflation across this range of products and services.

The ONLY thing that causes inflation is money creation.

Demand can be stronger than supply availability even in times when money creation isn't as robust as it was in 2020 and 2021.

[Anonymous]

Anonymous wrote:May 24, 2024: Another Massive Revision, This Time Durable Goods, What’s Going On

The Commerce Department revised March durable goods orders from +2.6 percent to +0.8 percent. Now it reports a 0.7 percent gain vs an expectation of -0.5 percent.

May 23, 2024: New Home Sales Sink 4.7 Percent on Top of Huge Negative Revisions

New Home Sales plunged. And the Census Department completely revised away last month’s fictional 8.8 percent rise.

May 22, 2024: Discretionary Spending Tumbles at Target, Shares Drop 10 Percent

Target CEO Brian Cornell said the results show “continued soft trends in discretionary categories.” [The key word above is continued.]

May 22, 2024: Existing-Home Sales Decline 1.9 Percent, Sales Mostly Stagnant for 17 Months

Existing-home sales fell 1.9 percent in April and are also down 1.9 percent from a year ago. Sales have not gone anywhere for 17 months.

Home sales are down because the interest rates are high.
The president does not control interest rates.

Target (and other retailers) sales are down. They all announced a reduction in prices.

Poof goes the "inflation"

[Anonymous]

The US economy grew more slowly than initially thought during the first quarter.

The Bureau of Economic Analysis's second estimate of first quarter US gross domestic product (GDP) showed the economy grew at an annualized pace of 1.3% during the period, down from a first reading in April of 1.6% growth and in line with economist estimates.

The update to the first quarter growth metric "primarily reflected a downward revision to consumer spending," per the BEA. Personal consumption in the first quarter grew at 2%, down from a prior reading of 2.5%.

The reading came in significantly lower than fourth quarter GDP, which was revised up to 3.4%.

This is good for getting the Fed to lower interest rates.

[Anonymous]

Anonymous wrote:The US economy grew more slowly than initially thought during the first quarter.

The Bureau of Economic Analysis's second estimate of first quarter US gross domestic product (GDP) showed the economy grew at an annualized pace of 1.3% during the period, down from a first reading in April of 1.6% growth and in line with economist estimates.

The update to the first quarter growth metric "primarily reflected a downward revision to consumer spending," per the BEA. Personal consumption in the first quarter grew at 2%, down from a prior reading of 2.5%.

The reading came in significantly lower than fourth quarter GDP, which was revised up to 3.4%.

This is good for getting the Fed to lower interest rates.

The term 'higher for longer' is now 'higher indefinitely'. Not good for the sitting President

[Anonymous]

[Anonymous]

Anonymous wrote:

That's true. That debt is like a drug. That high wears off quicker and quicker the more hits you take.

[Anonymous]

Anonymous wrote:

Typical mathematical slight of hand that tricks the less mathematically inclined among us. Comparing nominal increases between two unequal sums is like comparing apples and oranges. Inflation itself increases the national debt as well as nominal GDP.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

That's true. That debt is like a drug. That high wears off quicker and quicker the more hits you take.

Word salad propaganda. Are you able to form a coherent point of view that uses facts and data or do you only speak in metaphor and innuendo?

[Anonymous]

Rut Ruh...

Pending Home Sales -7.7,

Expected -1.0%,

Below lowest estimate!

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

That's true. That debt is like a drug. That high wears off quicker and quicker the more hits you take.

Word salad propaganda. Are you able to form a coherent point of view that uses facts and data or do you only speak in metaphor and innuendo?

No propaganda.

$1 of government spending does not increase the GDP by $1.

[Anonymous]

Anonymous wrote:

It is a better deal than Trump got for his debt.

[Anonymous]

Here is your gas inflation ^^^

Here is your goods inflation:

https://www.cnn.com/2024/05/29/business/walgreens-price-cuts-retailer-inflation/index.html

IOW, they jacked up prices during COVID and never reduced them, reaping in the profits and hurting consumers. Consumers started staying home, so here we are.

[Anonymous]

[Anonymous]

There is nothing more important to the stability of a society than the combination of sound monetary and fiscal policy.

Right now monetary policy is helping return us to sanity, but fiscal policy is still out of control insane.