The Biden Economic BOOM

evince said:
The republicans always fail


See what you get for smoking Putin cock for a decade idiots
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The Repubs always succeed. They have jacked up the debt bigly and proudly since Reagan. They give tax cuts to the top 1 percent, who do not need it and expand the military. The top 1 percent makes bank off military contacting. They are looting us . They absolutely do not want a raise in Min. wage or universal healthcare. For them, healthcare costs are couch change. It is not a problem.But universal healthcare makes the pot of money they can loot smaller. Same for infrastructure. They have plans for that money .
 
cawacko said:
The challenge with discussing the economy on a board like this is partisan drives most discussions. If we took all the politicians/political party's out of the discussion and just spoke about what would we expect to happen to the economy if we essentially just shut it down for several months? I think most would say you'll probably have a recession, which we did, and then with the help of stimulus it will rise up fast upon reopening, which it has. And then inflation is included in that as well.

But the Fed said exactly what you did, that inflation would be transitory. That has turned out to be very wrong. It's not gone away and with the events overseas aren't helping in any way. The Fed is raising rates to deal with inflation but there is risk in that if they overshoot it will slow down the economy and possibly put it in recession. Of course they don't want inflation staying high either so they've put themselves in a tough spot.

I'm smart enough to know that there is a lot I don't know, so I'm not trying to pass myself off as some expert here. But I believe what I'm saying is accurate. This is the economic challenge we face.

As for voters, most have little to no knowledge of the Fed and the role they play in the market/economy. Therefore they give all credit/blame to the President. But they do see inflation and so far have recognized it's not been temporary.
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All good points, but I'd probably disagree on the timeframe of "transitory." I never expected inflation to be over in a few months.

In general, economic cycles and reactions are on a different timeline from Presidential admins. For starters, we ARE in a global economy now. Presidents can't do that much, and much of what they do potentially could not be impactful until they're out of office.

In a way, we have set up the system to NOT be beneficial for our long-term economic health. Not to pick on Trump, because all Presidents do this, but the tax cuts he passed early in his admin were a short-term measure intended to boost the mid-terms. Most economists I read said that they were not sound for long-term economic health or growth.
 
BartenderElite said:
Righties set impossibly low expectations for Biden. What are they gonna do when summer rolls around and COVID is basically gone & the economy is humming?

The mid-terms might not be such a red wave, after all. It warms the heart.
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As it stands, the GOP will likely lose net 3 seats in redistricting advantages (if you go by 2020 results)...plus there's the COVID death count factor lurking in the background of everything. We don't really know how many Republicans died of COVID in 2021, but it was definitely more than Democrats, and by a lot.

If SCOTUS overturns Roe this summer, that's it for the GOP...game over. They will get pounded in November.
 
cawacko said:
The challenge with discussing the economy on a board like this is partisan drives most discussions. If we took all the politicians/political party's out of the discussion and just spoke about what would we expect to happen to the economy if we essentially just shut it down for several months? I think most would say you'll probably have a recession, which we did, and then with the help of stimulus it will rise up fast upon reopening, which it has. And then inflation is included in that as well.
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We entered a recession BEFORE any COVID lockdowns started, and before COVID even took hold in the US:

Recession officially started in February, researchers say
https://www.foxbusiness.com/economy/us-recession-started-in-february-researchers-say

The economy was shit long before COVID came onto the scene thanks to the Russia Tax Cut:

U.S. manufacturing was in a mild recession during 2019, a sore spot for the economy
https://www.washingtonpost.com/busi...mild-recession-during-2019-sore-spot-economy/

And that shitty tax cut didn't increase business investment, like we were promised:

A Decline in Capital Investment Reveals the False Promise of Drumpf’s Tax Bill
https://www.newyorker.com/news/our-...-reveals-the-false-promise-of-trumps-tax-bill

And it didn't pay for itself, even though Conservatives and Moderates said it would:

Drumpf’s Wasteful Tax Cuts Lead To Continued Trillion Dollar Deficits In Expanding Economy
https://www.forbes.com/sites/christ...eficits-in-expanding-economy/?sh=2abc270f66c4

And every single Conservative and Moderate promised it would lead to higher growth...well, it didn't:

Drumpf’s misleading spin on the 2018 GDP growth rate
https://www.forbes.com/sites/christ...eficits-in-expanding-economy/?sh=2abc270f66c4

Trump couldn't even beat Obama's best annual GDP growth.
 
Darla said:
Companies added 475,000 positions in February, better than the Dow Jones estimate for 400,000, ADP reported Wednesday.
The payrolls processing firm dramatically revised its January count, from a loss of 301,000 to a gain of 509,000.

https://www.cnbc.com/2022/03/02/adp-february-2022-.html
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As of 3/2/2022 the Dow among other global markets experienced a huge bull run apparently as a result of the civilized part of the global community standing strong against evil, corruption and tyranny.

https://www.msn.com/en-us/money/markets?duration=1D
 
BartenderElite said:
Righties set impossibly low expectations for Biden. What are they gonna do when summer rolls around and COVID is basically gone & the economy is humming?

The mid-terms might not be such a red wave, after all. It warms the heart.
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Really? What's he done specifically to bring about this American renaissance? Do you happen to recall Trump's post-pandemic plans for the economic recovery? I'll give you a hint, two words, "NO" and "THING". Say them together real fast, that was Trump's plan. The 'tater head's actually done quite a lot to get to this point, and that's the problem.
 
GDP GROWTH HAS STALLED
gdpnow-forecast-evolution.gif

https://www.atlantafed.org/cqer/research/gdpnow


INFLATION AT 40 YEAR HIGH
united-states-government-debt.png

https://tradingeconomics.com/united-.../inflation-cpi
https://www.theguardian.com/business...-years-january


DOW IS DOWN OVER PAST 10+ MONTHS
https://www.cnbc.com/quotes/.DJI


GOVERNMENT DEBT IS SKYROCKETING
united-states-government-debt.png

https://tradingeconomics.com/united-states/government-debt


And you call this an economic boom?

So noted.


Once again - I despise both parties.
 
ThatOwlWoman said:
I see the U.S. markets are up significantly on this news, plus the positive reaction to the SOTU last night.
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Did you watch the SOTU what an absolute mess, Biden is gone mentally and so is burn pit nancy! What an absolute shameful speech. Although he sounded like Trump when it came to what will help America, with American Jobs, and Border security but we both know he has absolutely no beilief is going forward WITH THAT!~ Embarrassing!
 
Wolverine said:
Did you watch the SOTU what an absolute mess, Biden is gone mentally and so is burn pit nancy! What an absolute shameful speech. Although he sounded like Trump when it came to what will help America, with American Jobs, and Border security but we both know he has absolutely no beilief is going forward WITH THAT!~ Embarrassing!
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Poor Cindy. There, there. It'll be all right. We horrible leftie socialists promise that we'll let you share in all the good things to come.
 
ThatOwlWoman said:
Poor Cindy. There, there. It'll be all right. We horrible leftie socialists promise that we'll let you share in all the good things to come.
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YOU ARE CERTIFIABLY NUTS IF YOU THINK ANYTHING SAID IN THE SOTU WAS ANYTHING BUT PANDERING! WTF was the evil witch doing standing up rubbing her fists together, practically spitting out her dentures, when they mentioned burn pits! Sure hope Joe doesn't have to put more than two sentences together ever again, as he clearly can't!
 
Wolverine said:
YOU ARE CERTIFIABLY NUTS IF YOU THINK ANYTHING SAID IN THE SOTU WAS ANYTHING BUT PANDERING! WTF was the evil witch doing standing up rubbing her fists together, practically spitting out her dentures, when they mentioned burn pits! Sure hope Joe doesn't have to put more than two sentences together ever again, as he clearly can't!
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That's no way to talk about the nice (R) lady from Iowa who delivered the weak rebuttal. Shame on you. I award this crazed rant Two Cuckoos!

aDujz1a.jpg
 
the unemployment numbers came out today, FAR better than expected

too bad the corporate media only mentions Biden's booming economy in passing, then proceeds to question everything he does

our MSM is Fox Lite and always has been, corporately owned and operated. Chuck Todd and and Alan Greespan's wife Andrea Mitchell are great examples
 
BartenderElite said:
You understand economics better than most here. I assume you know that inflation was absolutely inevitable, given the pandemic circumstances. It is also a temporary condition.

There is no reason to spin it.
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What about the multitude of Quantitative Easing, non stop for fourteen years, you don't think there was a cost to printing all that money?
Since the plan was always to pay it back with less valuable inflated dollars, inflation has to occur sometime.

Do you really think you are knowledgeable enough to comment on this board?
 
Rune said:
What about the multitude of Quantitative Easing, non stop for fourteen years, you don't think there was a cost to printing all that money?
Since the plan was always to pay it back with less valuable inflated dollars, inflation has to occur sometime.

Do you really think you are knowledgeable enough to comment on this board?
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People are able to see the inequality in our country but aren't able to tie it back to these Fed (easy money) policies. They don't understand/can't make that connection.

(Those who will defend the Fed will say the policies were necessary, especially during the Great Recession, to save the economy and keep people employed. But on the whole they have been the driver behind inequality and as you stated you can only kick the can down the road for so long before having to pay the piper.)
 
Darla said:
Companies added 475,000 positions in February, better than the Dow Jones estimate for 400,000, ADP reported Wednesday.
The payrolls processing firm dramatically revised its January count, from a loss of 301,000 to a gain of 509,000.

https://www.cnbc.com/2022/03/02/adp-february-2022-.html
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What’s up Darla! Just having a little fun here in case you check back in. :)

At the time of this post the job numbers were good. We were also in the middle of a quarter with negative GDP growth, a stock market about to hit bear market territory and 40 year high in inflation. If we’re calling that an economic BOOM I’d hate to see what a regular economy looks like.
 
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