Bidenomics...absolutely killing it!

What happened to the workforce?

Quote:

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Inflation is still well above its pre-pandemic rate. And prices are so far above their pre-pandemic level that a typical family needs an extra $11,000 in annual income just to maintain the standard of living they had when President Joe Biden took office.

So, while it's true that inflation is no longer at 40-year highs, it's still higher than when Biden and Yellen started, and there's no hope of the cost of living coming down appreciably.

Not wanting to dwell too long on such shaky ground, Yellen pivots to the unemployment rate, which has remained unexpectedly low. But this is due in part to millions of people leaving the workforce, which has removed them from the unemployment calculation.

Depending on how one wants to measure the pre-pandemic trends in the labor market, the economy is effectively missing between 4.8 million and 6.8 million workers. Accounting for their absence yields a more accurate unemployment rate of between 6.4 and 7.5%, a range commonly found in recessions.

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Must be tough cheerleading for Pedo Pete and his economic gaslighting.

BoydCrowder13 said:

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one safe place said:

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BoydCrowder13 said:

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MouthBQ98 said:

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The investor class with stock and real estate and similar investments that increase in value with inflation are doing pretty well. That same class had much more discretionary income and can absorb inflation by making personal adjustments much more easily.

The labor income class with few investment holdings or on fixed income or that doesn't have investment returns that increase in value with the inflation of the dollar are getting HAMMERED by inflation. They were already living in narrow margins, debt financing, or even paycheck to paycheck with little discretionary income, and 15-20% inflation is really making life painful and difficult for them.

The ivory tower coastal elite democrats don't seem to understand or relate to this. They just fall back on the old reliable: cause financial suffering, blame others, then promise relief with welfare handouts that they can use to purchase political power with.

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We've been in a rich get richer society for 20+ years now. The wealth gap is increasing at an astonishing pace. Not sure what to do about.

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Too many liberals want to pull down the successful to benefit the less successful. That's a fool's errand.

Perhaps those at the bottom of the gap should work harder, work smarter, give up bad habits, not have children they cannot afford, get proper education and skills, and thereby elevate themselves if they feel they are coming up short.

There will always be a wealth gap. It is up to individuals and families as to which side of it they are on or by how much.

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You can say that but it is much easier to get to $10M from $1M than to $100K from $10k. Eventually, the masses will revolt.

I personally am not whining. I've done even better financially under Biden than under Trump.

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lol, the "masses" will not revolt

Logos Stick said:

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Birdwatcher said:

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I respectfully disagree and think some celebration is warranted. Avoiding a recession and the economy having a soft landing now, is an outcome from the work battling COVID. The Biden administration managed to best nearly every model and prediction about how the economy would perform.

The Chinese economy slowing, Red Sea tensions, and Ukraine could all contribute to a recession, but it would be a whole new one.

These successes won't matter if he can't do something meaningful with the border immediately. I am aware he's being blocked by the ultra maga right, and that is the only issue they have going for them, but he has to do something. The economy and women's rights won't win this election.

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Biden is running $2 trillion yearly deficits. That's the only reason GDP is above 1%.

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Strange how folks *****ing about deficits under Biden seem to either forget or overlook that Trump ran $2 trillion yearly deficits. After campaigning to get rid of the deficit. It's reasonable to ***** about deficits, but try to remember it's not confined to either Party. Add in, if you want to gripe about prices still being high among reports that inflation has been significantly reduced, that you could reduce inflation to zero and it wouldn't bring prices down a single penny. That's on businesses reducing their prices after the reasons no longer exist for why they raised them in the first place. Product shortages at the same time demand is high. Remember something like that happening? As in, 2020 as we came out of the lengthy shutdown brought on by the Pandemic? Inflation would have been just as high if Trump had been re-elected. Demand is still high and people are consistently paying the higher prices, so businesses have no incentive to lower them.

That's reality, but of course reality is no longer of any interest to either Party when partisan issues are discussed.

AggiePops said:

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Logos Stick said:

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Birdwatcher said:

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I respectfully disagree and think some celebration is warranted. Avoiding a recession and the economy having a soft landing now, is an outcome from the work battling COVID. The Biden administration managed to best nearly every model and prediction about how the economy would perform.

The Chinese economy slowing, Red Sea tensions, and Ukraine could all contribute to a recession, but it would be a whole new one.

These successes won't matter if he can't do something meaningful with the border immediately. I am aware he's being blocked by the ultra maga right, and that is the only issue they have going for them, but he has to do something. The economy and women's rights won't win this election.

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Biden is running $2 trillion yearly deficits. That's the only reason GDP is above 1%.

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Strange how folks *****ing about deficits under Biden seem to either forget or overlook that Trump ran $2 trillion yearly deficits. After campaigning to get rid of the deficit. It's reasonable to ***** about deficits, but try to remember it's not confined to either Party. Add in, if you want to gripe about prices still being high among reports that inflation has been significantly reduced, that you could reduce inflation to zero and it wouldn't bring prices down a single penny. That's on businesses reducing their prices after the reasons no longer exist for why they raised them in the first place. Product shortages at the same time demand is high. Remember something like that happening? As in, 2020 as we came out of the lengthy shutdown brought on by the Pandemic? Inflation would have been just as high if Trump had been re-elected. Demand is still high and people are consistently paying the higher prices, so businesses have no incentive to lower them.

That's reality, but of course reality is of no interest to either Party when partisan issues are discussed.

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At least when Trump ran deficits, some of it was due to tax cuts..

one safe place said:

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BoydCrowder13 said:

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one safe place said:

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BoydCrowder13 said:

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MouthBQ98 said:

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The investor class with stock and real estate and similar investments that increase in value with inflation are doing pretty well. That same class had much more discretionary income and can absorb inflation by making personal adjustments much more easily.

The labor income class with few investment holdings or on fixed income or that doesn't have investment returns that increase in value with the inflation of the dollar are getting HAMMERED by inflation. They were already living in narrow margins, debt financing, or even paycheck to paycheck with little discretionary income, and 15-20% inflation is really making life painful and difficult for them.

The ivory tower coastal elite democrats don't seem to understand or relate to this. They just fall back on the old reliable: cause financial suffering, blame others, then promise relief with welfare handouts that they can use to purchase political power with.

---

We've been in a rich get richer society for 20+ years now. The wealth gap is increasing at an astonishing pace. Not sure what to do about.

---

Too many liberals want to pull down the successful to benefit the less successful. That's a fool's errand.

Perhaps those at the bottom of the gap should work harder, work smarter, give up bad habits, not have children they cannot afford, get proper education and skills, and thereby elevate themselves if they feel they are coming up short.

There will always be a wealth gap. It is up to individuals and families as to which side of it they are on or by how much.

---

You can say that but it is much easier to get to $10M from $1M than to $100K from $10k. Eventually, the masses will revolt.

I personally am not whining. I've done even better financially under Biden than under Trump.

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lol, the "masses" will not revolt

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Tell that to Marie Antonette or Czar Nicholas.

People who love to brag about trump spending like a democrat are the same tds-infected socialists who probably didn't think ppp loans / covid relief was enough and would've wanted more spending even without a global pandemic shuttering small businesses across the country

they are dead and vote democrat a plus for you

bobbranco said:

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they are dead and vote democrat a plus for you

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Great argument. 5 stars

Logos Stick said:

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Prices are almost 20% higher now than when Biden took office.

That poll is made up by the Biden regime.

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Try 80%

As if what you posted was believable.

Nothing to see here folks. Just Bidenomics at work.

Quote:

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That's on businesses reducing their prices after the reasons no longer exist for why they raised them in the first place.

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Tell me you have no clue how business and economics work with telling me.

BadMoonRisin said:

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Nothing to see here folks. Just Bidenomics at work.

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I had Bloomberg or CNBC on the TV most of the day and there were several more announced. It ain't pretty.

Birdwatcher said:

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The economy has been great when everything is put into perspective with what is going on in the world post covid. The economy is not something Biden should run away from. Poor polling is a result of not communicating the message effectively enough. Going to be alot of sad maga people come November!

Consumer confidence climbs to two year high

Quote:

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U.S. consumer confidence index rises to 114.8 in January from 108.0

The numbers: Consumer confidence jumped in January to a two-year high of 114.8, a survey showed, reflecting slower inflation, a record stock market and improved growth in the economy.

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High prices at the grocery store and gas, high rents and mortgages, and finally the border.

Oh, yes, there will be a lot of sad stupid liberals supporting Biden.

Quote:

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Add in, if you want to gripe about prices still being high among reports that inflation has been significantly reduced, that you could reduce inflation to zero and it wouldn't bring prices down a single penny. That's on businesses reducing their prices after the reasons no longer exist for why they raised them in the first place.

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This is 2 teas level economic genius here, folks. If this were remotely true, you'd see competitors swooping in and undercutting prices if they were artificially high. If businesses are colluding to keep prices artificially high, why isn't Biden's administration stepping in? Probably because they know that this spin is complete bull*****

The truth, while hard for leftists to admit, is that while the inflationary threat was only smoldering post-pandemic, Biden threw gasoline on the fire with the ruhtarded "inflation reduction act" and other reckless spending bills. I don't disagree that we'd have seen some level of inflation if Trump hadn't lost* the election, but it would have been nowhere near the 2 year "transitory" spike we've experienced.

Serious question-

If economic indicators are good
And
If inflation has been tamed, but still too high
And
If jobs and growth are good


Why is the Fed going to cut interest rates?

AggiePops said:

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Logos Stick said:

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Birdwatcher said:

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I respectfully disagree and think some celebration is warranted. Avoiding a recession and the economy having a soft landing now, is an outcome from the work battling COVID. The Biden administration managed to best nearly every model and prediction about how the economy would perform.

The Chinese economy slowing, Red Sea tensions, and Ukraine could all contribute to a recession, but it would be a whole new one.

These successes won't matter if he can't do something meaningful with the border immediately. I am aware he's being blocked by the ultra maga right, and that is the only issue they have going for them, but he has to do something. The economy and women's rights won't win this election.

---

Biden is running $2 trillion yearly deficits. That's the only reason GDP is above 1%.

---

Strange how folks *****ing about deficits under Biden seem to either forget or overlook that Trump ran $2 trillion yearly deficits. After campaigning to get rid of the deficit. It's reasonable to ***** about deficits, but try to remember it's not confined to either Party. Add in, if you want to gripe about prices still being high among reports that inflation has been significantly reduced, that you could reduce inflation to zero and it wouldn't bring prices down a single penny. That's on businesses reducing their prices after the reasons no longer exist for why they raised them in the first place. Product shortages at the same time demand is high. Remember something like that happening? As in, 2020 as we came out of the lengthy shutdown brought on by the Pandemic? Inflation would have been just as high if Trump had been re-elected. Demand is still high and people are consistently paying the higher prices, so businesses have no incentive to lower them.

That's reality, but of course reality is no longer of any interest to either Party when partisan issues are discussed.

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Trump didn't run $2 trillion deficits. LMAO

Except for the pandemic year, he was well under $1 trillion.

I don't hold the 2020 deficit against Trump. Nor do I hold 2021 deficit against Biden. It was an extraordinary event.

But the 2022, 2023, and 2024 deficits are on the Marxist you support.

Deputy Travis Junior said:

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Birdwatcher said:

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The economy has been great when everything is put into perspective with what is going on in the world post covid. The economy is not something Biden should run away from. Poor polling is a result of not communicating the message effectively enough. Going to be alot of sad maga people come November!

Consumer confidence climbs to two year high

Quote:

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U.S. consumer confidence index rises to 114.8 in January from 108.0

The numbers: Consumer confidence jumped in January to a two-year high of 114.8, a survey showed, reflecting slower inflation, a record stock market and improved growth in the economy.

---

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Hey bud. Early in his term, Biden claimed we needed a $5-6T spending package to spur growth (this was Bidenomics). Every republican in congress + a few people from his own party told him he was stupid for pushing extra deficit spending during a period of high inflation, his spending package failed, and the economy began to recover (albeit with a drastically trimmed-down spending package 10-15% as large).

When you say "we need X," people disagree and refuse to pass X, and then the economy recovers without X, that means you're an idiotic failure who didn't know what he was talking about when pushing X. It does not mean that you're an economic savant who's just got a messaging problem.

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But they called some of the spending "Inflation Reduction Act", so the sycophants bought it. Anybody who thinks MORE government spending can lower inflation is exposing their partisanship and/or ignorance. Inflation is too many dollars chasing too few goods and services, and their solution is to inject MORE dollars.

Agthatbuilds said:

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Saw gas jumped like 30 cents this week.

The indicators can say whatever they want. If gas and groceries are stupid expensive, no one will listen

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Of course, staples like gasoline and groceries are excluded from the official reading. Convenient.

AtticusMatlock said:

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Trump opened a lot of people's eyes about China and it's abundantly clear even to the deep state and megacorps that the tariffs and pressure on China during his administration had a good effect. Biden has kept and even harshened some of the tariffs.

Manufacturers are reshoring to North America like crazy out of necessity. Trump and Biden will both take credit for it but it's really the result of what's happening in China.

Inflation is also a global problem and the US printing money has not helped, but the reshaping of the global economy and moving away from globalism is a big contributor. All of that retooling costs money and labor will be more expensive in the near and medium term.

Inflation would have been bad under Trump, it will continue to be bad under Biden and probably the next president as well. There's going to be a cost of reshuffling how we get our goods here but ultimately it's going to be good for the American economy.

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Biden came in a signed another $6T in spending. Whatever inflation was going to be, Biden has made it worse.

Aggie Apotheosis said:

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BigRobSA said:

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Birdwatcher said:

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I respectfully disagree and think some celebration is warranted. Avoiding a recession and the economy having a soft landing now, is an outcome from the work battling COVID. The Biden administration managed to best nearly every model and prediction about how the economy would perform.

The Chinese economy slowing, Red Sea tensions, and Ukraine could all contribute to a recession, but it would be a whole new one.

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We were in a recession. Gaslight somewhere else. This isn't a group of stupid people that would believe dumbassery.

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Wait a minute? We were in a recession? Are you sure about that?

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You don't remember the Biden admin waffling about what really constitutes a recession? We had two quarters of negative growth, but because some office in the executive branch (I think) didn't declare it a recession, it wasn't really?

Agthatbuilds said:

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Serious question-

If economic indicators are good
And
If inflation has been tamed, but still too high
And
If jobs and growth are good


Why is the Fed going to cut interest rates?

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So people can borrow more money and increase their record-level debt just so they can buy groceries and pay the rent.

Great times

Birdwatcher said:

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The economy has been great when everything is put into perspective with what is going on in the world post covid. The economy is not something Biden should run away from. Poor polling is a result of not communicating the message effectively enough.

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Yeah, if only the WH could communicate better, maybe people would not realize they are paying double at the grocery store, rent, utilities, etc. what they were before Biden took office. Those darn plebs just don't realize how good they really have it!

Our brain-dead empty suit senile geriatric president, in one of the few moments his handlers accidentally let him talk to a press gaggle for more than a few seconds, openly called the "inflation reduction act" that he's so proud of, a significant "CLIMATE" bill. More government spending, the cause of currency devaluation (aka inflation), cannot reduce inflation and everyone knows it. What a farse they got passed through congress.

Artorias said:

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Birdwatcher said:

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The economy has been great when everything is put into perspective with what is going on in the world post covid. The economy is not something Biden should run away from. Poor polling is a result of not communicating the message effectively enough.

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Yeah, if only the WH could communicate better, maybe people would not realize they are paying double at the grocery store, rent, utilities, etc. what they were before Biden took office. Those darn plebs just don't realize how good they really have it!

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BIDEN DOESN'T WORK FOR YOU!!


/he said that.

WHOOP!'91 said:

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Aggie Apotheosis said:

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BigRobSA said:

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Birdwatcher said:

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I respectfully disagree and think some celebration is warranted. Avoiding a recession and the economy having a soft landing now, is an outcome from the work battling COVID. The Biden administration managed to best nearly every model and prediction about how the economy would perform.

The Chinese economy slowing, Red Sea tensions, and Ukraine could all contribute to a recession, but it would be a whole new one.

---

We were in a recession. Gaslight somewhere else. This isn't a group of stupid people that would believe dumbassery.

---

Wait a minute? We were in a recession? Are you sure about that?

---

You don't remember the Biden admin waffling about what really constitutes a recession? We had two quarters of negative growth, but because some office in the executive branch (I think) didn't declare it a recession, it wasn't really?

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If it was a recession in 2022, it was a very brief and minor one. The economy rebounded nicely.

Obviously y'all don't want to admit the economy has been resilient under a Democratic president. But obviously if Trump was president under the exact same circumstances, he'd take all of the credit for avoiding a recession and for the stock market doing well. You know it, I know it, we all know it.

JobSecurity said:

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Yes, please, have Biden embrace the economy as a main selling point for reelection

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anyone counting on the economy to drag Biden down most be less than 2 years old..

seeing as how the economy by EVERY measure was worse in November 2022

and yet Biden candidates beat Trump senate and governor candidates in New Hampshire, Pennsylvania, Georgia, Arizona, New Mexico, Michigan

but sure, in a BETTER economy now- Trump will outperform what happened in 2022.

barbacoa taco said:

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If it was a recession in 2022, it was a very brief and minor one. The economy rebounded nicely.

Obviously y'all don't want to admit the economy has been resilient under a Democratic president. But obviously if Trump was president under the exact same circumstances, he'd take all of the credit for avoiding a recession and for the stock market doing well. You know it, I know it, we all know it.

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Yes, it truly takes resilience to attack all sectors of the American economy and print trillions of dollars and then complain about the economic headwinds you face.

This post is proof that we are doomed.
Inflation and high interest rates are precursors to the even worse scenario- deflation.
Commodities are only kept affordable right now because of oil manipulation by pumping our strategic oil reserves dry. After killing our pipelines where do you think biden is getting our oil? Hemmm... well we've burned the bridges in the middle east now... Note: not smart to pick a war on several fronts overseas when you have limited oil.

In addition to oil manipulation the COMEX is manipulated through naked shorts. The FED reserve (not owned by the US btw) is issuing money to banks that is backed by nothing. Banks can lend notes on gold ownership through a securities based lending collateral line through JP Morgan; JP bought up gold when they nearly crashed. Now they lend out rights to it. So the majority of banks are all pretending they have gold from one banking institution. So you should listen to Jamie himself when he warns of ominous times to come.

If you were biden wouldn't you do everything in your power keep the jenga tower from crashing until after elections?...

p.s. Trump wasn't fiscally conservative enough for me either. Anyone who owns a gold toilet pisses me off. At least he earned it. Using the American people as a credit card pisses me of no matter who's doing it.

WHOOP!'91 said:

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Aggie Apotheosis said:

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BigRobSA said:

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Birdwatcher said:

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I respectfully disagree and think some celebration is warranted. Avoiding a recession and the economy having a soft landing now, is an outcome from the work battling COVID. The Biden administration managed to best nearly every model and prediction about how the economy would perform.

The Chinese economy slowing, Red Sea tensions, and Ukraine could all contribute to a recession, but it would be a whole new one.

---

We were in a recession. Gaslight somewhere else. This isn't a group of stupid people that would believe dumbassery.

---

Wait a minute? We were in a recession? Are you sure about that?

---

You don't remember the Biden admin waffling about what really constitutes a recession? We had two quarters of negative growth, but because some office in the executive branch (I think) didn't declare it a recession, it wasn't really?

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I sure do. BS political spin by the admin. No one likes to admit to a recession. Especially before a midterm.

I will admit I am surprised that we didn't fall into a harder recession. Based on GDP, the 2022 technical recession was very minor. And analysts and the Fed were forecasting a much more severe one in 2023. That never materialized and looks less likely now than it did a year ago.

Not giving Biden credit for this but the economic outlook is much better now than it was in 2022 and the Dems did fine in those midterms. I wouldn't count on the economy carrying Trump.

Layoffs will likely happen at the start of this year. Interest rates are forcing less profitable companies to cut costs as they refinance their maturing debt. Larger companies will cut their bottom 5% of performers.

The Fed wanted to cool the labor market without forcing high unemployment. We'll see if they can ride that line.

Quote:

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The Fed wanted to cool the labor market without forcing high unemployment. We'll see if they can ride that line.

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That's jus stupidity at work. They should be focused on increasing LFPR instead of the rigged unemployment rate.

Aggies1322 said:

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Birdwatcher said:

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I respectfully disagree and think some celebration is warranted. Avoiding a recession and the economy having a soft landing now, is an outcome from the work battling COVID. The Biden administration managed to best nearly every model and prediction about how the economy would perform.

The Chinese economy slowing, Red Sea tensions, and Ukraine could all contribute to a recession, but it would be a whole new one.

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I'm glad to hear we've avoided a recession.. much like we did in 2007. Until we didn't.

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Define recession prior to 2020.
Define recession after 2020.

It's (D)ifferent.

Agthatbuilds said:

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Serious question-

If economic indicators are good
And
If inflation has been tamed, but still too high
And
If jobs and growth are good


Why is the Fed going to cut interest rates?

---

Serious answer -

Borrowing is the only way to fund our CURRENT system in the face of spineless politicians.

Rates need to drop to facilitate the massive amount of deficit spending that has to continue happening in order for our economic system to function.

Can you imagine a politician suggesting the proper fix?

• Balanced budget
• Means test Social Security similar to Medicare
• Raise retirement age incrementally for anyone under 50
• Lower corporate tax rates
• Restructure income tax (probably including several instances of a higher tax structure)

They'd disappear about like Seth Rich's laptop.

Sims said:

---

Agthatbuilds said:

---

Serious question-

If economic indicators are good
And
If inflation has been tamed, but still too high
And
If jobs and growth are good


Why is the Fed going to cut interest rates?

---

Serious answer -

Borrowing is the only way to fund our CURRENT system in the face of spineless politicians.

Rates need to drop to facilitate the massive amount of deficit spending that has to continue happening in order for our economic system to function.

Can you imagine a politician suggesting the proper fix?

• Balanced budget
• Means test Social Security similar to Medicare
• Raise retirement age incrementally for anyone under 50
• Lower corporate tax rates
• Restructure income tax (probably including several instances of a higher tax structure)

They'd disappear about like Seth Rich's laptop.

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Yep. Trump's main line of attack on DeSantis was that he suggested 10 years ago to raise the SS age to 70. No one is ever going to touch entitlements.