cheering on all the signs of socialism creep in action: jobs numbers that are false and need to be corrected every quarter, recent GDP "growth" that is nearly all government-driven, and unemployment numbers that are intentionally misleading, all while the citizenry continues to become more and more impoverished and government-dependent. Yay! Government growth and government spending leading us to the promised land that socialism always leads to! Biden just has a messaging problem about how awesome being poorer is going to be for everyone.

Yesterday I saw KJP say "it's important to see how Bidenomics is working"

LOL poor Joe, even his own press secretary makes sure his name is associated with this dumpster fire economy

Sims said:

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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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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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It moved

BigRobSA said:

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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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Bull***** 20% ? Try 200% on some things.

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Agreed. The federal government conveniently uses blatantly biased data by not including certain products & services.

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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Facts are the brutal beatdown of this President's administration lies and obfuscation.

One should consider that;

• The core Consumer Price Index (CPI) is the standard measurement of inflation used in the U.S. financial markets. Of more importance is the measurement of core inflation. Core CPI excludes food and energy from its formulas.

Convenient it omits items people need to buy every damn day.

richardag said:

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One should consider that;

• The core Consumer Price Index (CPI) is the standard measurement of inflation used in the U.S. financial markets. Of more importance is the measurement of core inflation. Core CPI excludes food and energy from its formulas.

Convenient it omits items people need to buy every damn day.

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no, no, no... it's just a messaging problem for Biden. Stupid low IQ plebes just don't understand that food and energy costs don't really matter.

It's insane. Biden spent 12 months selling his new New Deal, failed to pass it, and now is telling us how brilliant he is because the economy is beginning to recover despite the fact that we didn't pass all the bull**** he told us we needed to pass.

Remind people of this when they try to tell you how wonderful the Bidenomics plan is: this is not what he wanted. He tried to pass something 5-10x as large and couldn't get the votes. That is, the reason our economy is beginning to recover and inflation is beginning to drop is because he ****ing failed.

Old McDonald said:

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by many measures the economy is quite strong as of january 2024.

the majority of gripes with bidenomics have to do with inflation, even though Trump shares equal blame with Biden for that. sentiment is lagging the high inflation of 2021-2022 but as long as wages continue to outpace inflation like they have the last 10 months sentiment will slowly pick up.

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You think so? The "Inflation Reduction Act" and the American family "give-aways" would beg to differ.

His policies were THE major cause of inflation in the US.

And wages haven't come anywhere close to keeping pace.

exactly. the "infrastructure" bill that he lies about and weirdly brags about republicans admiring new bridges to him was only one trillion dollars and the green new deal he wanted was supposed to be around 2-3 trillion dollars was turned into the green new deal lite but disguised as the "Inflation Reduction Act" which was only three quarters of a trillion dollars in new government spending. soft landing! bidenomics is working. just a messaging problem!

Not an economist, but here is how I sum up the trends I see.

0) Texas is in a bubble of economic growth that will last for 10-20 years. We have it going on in every area as businesses flee anti-growth (socialist) states, we are blessed with cheap fossil and green energy, have a huge natural port, nicely distributed workforce along the skilled unskilled spectrum, and have best geographic access to our corporations' subcontracted factories in Mexico.

Nationally,

1) lack of job loss is due to massive boomer retirement. Any inflation in wages has been because of reduced workforce not growth or reshoring. (We have never been in this environment post Industrial Revolution so most previous trends/markers may not be reliable.)

2) inflation is killing the middle and lower class workers in America and it's not helping the savings of the non investor class.

3) GDP growth is debt fueled govt spending. Personal anecdote: 1Q info: A huge (40k+ employees) financial services company serving banks and credit unions as well as govt did not meet any sales goals except for government sector in 2023. Government numbers blew up and saved massive losses. First time since 2008 that company's growth of non-government areas did not meet expectations. This company handles a huge amount of the countries financial transactions so I think this is very indicative of overall spending/growth.

4) rest of country feeling pinch of illegals on social services is in its infancy but having a big impact on strained infrastructure on local populations psyche.

It will become bigger issue over next few years because,

5) Even with the boomer retirement, the illegals getting spread around the country will suppress wages for those blue collar workers in blue areas with low growth for the first time ever. If it is in enough numbers to affect the macro situation it will be a big big issue for those workers whose wages stagnate even when they should be growing in a labor shortage.


All that adds up to some pissed off people as they lose more and more wealth or go further in debt. May not be enough this go round to swing the vote.

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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Succinct and true.

This fact should piss off every damned taxpayer. The government spends the tax dollars we give them, then has the stones to ask the Treasury for a raise on their credit card limit. Government spending is out of control. When is the last time we actually had a budget? All I hear about is continuing resolutions.