Biden’s economy

[Anonymous]

Anonymous wrote:Billions were allocated for nationwide EV charging stations and EIGHT were built. Where did the rest of the money go?
Billions were allocated for modern high speed internet infrastructure across America. Where did the money go?

Audits need to be done and people held to account.

Boris, you are boring.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Real GDP growth revised up to 3%. Inflation down to 2.6%. S&P500 up 19% YTD, and near a record. New business start ups booming. Manufacturing construction booming at triple the pre-COVID rate (thanks to Biden IRA). Jobs up an average of 174k a month over the last year.

The macro numbers are excellent. But Shake Shack did close a few stores, so there is that.

Wrong it’s 2.9% but that cumulative.
That’s based on the already high prices.

https://www.usinflationcalculator.com/inflation/current-inflation-rates/

The current annual inflation rate is 2.9%, the lowest since March 2021. Prices are still 20.9% more expensive since the pandemic-induced recession began in February 2020, with just 6% of the nearly 400 items the Bureau of Labor Statistics tracks cheaper today. Most of the things America rely on most (rent, food, insurance, utilities) are still high and in some cases 50% higher. Insurance rates have skyrocketed for those who own homes and vehicles.


More American kids are going hungry because their parents can’t afford food
https://fortune.com/well/article/americas-kids-hungry-over-summer/
CC debt is way up and people use them to buy just the necessities
https://www.cnbc.com/amp/2024/05/20/americans-are-going-into-debt-to-buy-groceries-research-finds.html

So the only ones benefiting right now are Joes rich Wall Street buddies. Main Street America is still struggling

And the GOP let the child tax credit expire - that had been addressing this prior to.

Senate Republicans just voted against it again this week.

[Anonymous]

The US added 142,000 new jobs, about 20,000 lower than expected. The Fed waited too long to cut rates and has to, IMO compensate with a 50 or 75 basis point cut.

[Anonymous]

Full-time workers: -438K
Part-time workers: +527K

The economy is dying

[Anonymous]

Anonymous wrote:Full-time workers: -438K
Part-time workers: +527K

The economy is dying

Sure Boris. It wasn't a great report especially with the downward revisions to the previous two months, but unemployment rate at 4.2% is hardly a "dying economy".

[Anonymous]

Employment among foreign-born workers has increased 4.4 million since pre-pandemic (and is back on trend) while jobs among native-born Americans have fallen 833k over that same time - literally no progress in 5 years...

[Anonymous]

Anonymous wrote:Full-time workers: -438K
Part-time workers: +527K

The economy is dying

Yep! Of course both prior months were revised sharply lower:

July revised lower by 25K from 114K to 89K
June revised lower by 61K from 179K to 118K

Thats 86k less jobs created than previous reported.

[Anonymous]

Part-time jobs jumped again in August while full-time jobs declined; since Jun '23, we've lost over 1.5 million full-time jobs while adding just over 2.0 million part-time ones; does this look like a robust labor market to you?

[Anonymous]

Anonymous wrote:

Anonymous wrote:Full-time workers: -438K
Part-time workers: +527K

The economy is dying

Sure Boris. It wasn't a great report especially with the downward revisions to the previous two months, but unemployment rate at 4.2% is hardly a "dying economy".

Full employment in Russia. Anyone who wants a job can go be cannon fodder.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Full-time workers: -438K
Part-time workers: +527K

The economy is dying

Yep! Of course both prior months were revised sharply lower:

July revised lower by 25K from 114K to 89K
June revised lower by 61K from 179K to 118K

Thats 86k less jobs created than previous reported.

This means that the July jobs report was the WEAKEST jobs report since the pandemic in December 2020.

Just wait until next month when we see the revisions to today's numbers.

What is happening here?

[Anonymous]

Anonymous wrote:Full-time workers: -438K
Part-time workers: +527K

The economy is dying

This guy again every month!

Based on his numbers nobody in the country has a full-time job anymore. Didn’t you know that we are all only working PT

[Anonymous]

Anonymous wrote:

Anonymous wrote:Full-time workers: -438K
Part-time workers: +527K

The economy is dying

Yep! Of course both prior months were revised sharply lower:

July revised lower by 25K from 114K to 89K
June revised lower by 61K from 179K to 118K

Thats 86k less jobs created than previous reported.

Seriously.

There are 330,000,000 people in the country.
Let's say 150,000,000 are employable (less than half).

Assume 200,000 new jobs a month. No, let's be generous and say 300,000 jobs a month. And that is generous with the downward revisions, which always seem to go in one direction.

That's one new job for every 500 people, per month. Not stellar, and I'm being generous with the numbers.

[Anonymous]

Anonymous wrote:The US added 142,000 new jobs, about 20,000 lower than expected. The Fed waited too long to cut rates and has to, IMO compensate with a 50 or 75 basis point cut.

I am guessing 25 bp cut announced September 18

[Anonymous]

Anonymous wrote:Employment among foreign-born workers has increased 4.4 million since pre-pandemic (and is back on trend) while jobs among native-born Americans have fallen 833k over that same time - literally no progress in 5 years...

Maybe the native born workers need to pull themselves up by their bootstraps?

[Anonymous]

Anonymous wrote:Full-time workers: -438K
Part-time workers: +527K

The economy is dying

Counterpoint from an actual expert: