Biden's Economic policies are a plus

[BIGDADDYFROMCINCINNATI]

(08-08-2023, 06:05 PM)basballguy Wrote: What?

Are you still banking on CPI as the sole basis for this discussion?

CPI increased by just .2% MoM last month which was a nice change of pace.  The current projection is we'll get a .4% increase for august....which, in my opinion, is fine.  

However, we've already been crippled by inflation.  Unless we start seeing negative CPI data MoM, there's no point in trying to use CPI as a basis for Bidenomics.  

What you should start looking at for the rest of the year are wages, employment, and debt.  

All of those improved in June.  

Do you mean to say inflation Trump left us by printing $Trillions backed by nothing, manipulating the fed, massive tax cuts for the top 5%, and increasing our national debt by 40% is what has us in this mess, and Biden's infrastructure bill is starting to build us out of this.  Inflation doesn't happen overnight, nor is it solved overnight.   2024 will be a great year for us economically, so we can expect the stock market to go Gangbusters in 2024.

[*Synric*]

(08-08-2023, 06:11 PM)BIGDADDYFROMCINCINNATI Wrote: All of those improved in June.  The inflation Trump left us by printing $Trillion, manipulating the fed, and increasing our national debt by 40% is what has us in this mess, and Biden's infrastructure bill is starting to build us out of this.  Inflation doesn't happen overnight, nor is it solved overnight.   2024 will be a great year for us economically.

Wrong supply shortages have us in this mess. Covid restrictions in China have curb the supply of most of the worlds mass produced products. The War in Ukraine and now drought in Europe is hurting the world food supply. All the US is doing right now is raising interest rates so is harder to borrow money and raise credit debt to try to curb demand until they can figure out the supply issue.

I really hate to be one of those people that live by credit card right now.

[BIGDADDYFROMCINCINNATI]

(08-08-2023, 06:15 PM)Synric Wrote: Wrong supply shortages have us in this mess. Covid restrictions in China have curb the supply of most of the worlds mass produced products. The War in Ukraine and now drought in Europe is hurting the world food supply. All the US is doing right now is raising interest rates so is harder to borrow money and raise credit debt to try to curb demand until they can figure out the supply issue.

I really hate to be one of those people that live by credit card right now.

Sure supply chain bottlenecks are a huge contributing factor to inflation, but the policies of the Trump administration exacerbated it.  So you think increasing our national debt by over $ 6.8 trillion by printing trillions backed by nothing, and not allowing the Fed to raise interest rates had nothing to do with the inflation we are now experiencing?

[basballguy]

(08-08-2023, 06:11 PM)BIGDADDYFROMCINCINNATI Wrote: 2024 will be a great year for us economically, so we can expect the stock market to go Gangbusters in 2024.

I have to ask....

are you pushing this because you're fed up with people on the right attacking Biden/WH on the economy or do you actually believe what you're saying?

I, honest to God, want you to be right.  

Rule #1 of the market is never try to predict it like you're doing here.  Nobody knows what the market is going to do...only what it could do based upon indicators.  

It's time to stop looking at CPI and start looking at different BLS data points.....consumer confidence, wages, employment, new home constructions...things like that.  

Inflation has run it's course....and hopefully it doesn't start running another course since the Fed has no tools to combat another run.  

[BIGDADDYFROMCINCINNATI]

This happened under Trump

https://www.npr.org/sections/coronavirus-live-updates/2020/09/02/908856864/u-s-to-owe-more-than-the-size-of-its-economy-for-the-1st-time-in-75-years

[basballguy]

(08-08-2023, 07:11 PM)BIGDADDYFROMCINCINNATI Wrote: This happened under Trump

https://www.npr.org/sections/coronavirus-live-updates/2020/09/02/908856864/u-s-to-owe-more-than-the-size-of-its-economy-for-the-1st-time-in-75-years

So what you're saying is....you sided with literally every person on the right who thought a shutdown was a bad idea and throwing money at the problem was a worse idea?  

It pleases me to know you pretend to be liberal but are actually republican.  

[BIGDADDYFROMCINCINNATI]

(08-08-2023, 06:30 PM)basballguy Wrote: I have to ask....

are you pushing this because you're fed up with people on the right attacking Biden/WH on the economy or do you actually believe what you're saying?

I, honest to God, want you to be right.  

Rule #1 of the market is never try to predict it like you're doing here.  Nobody knows what the market is going to do...only what it could do based upon indicators.  

It's time to stop looking at CPI and start looking at different BLS data points.....consumer confidence, wages, employment, new home constructions...things like that.  

Inflation has run it's course....and hopefully it doesn't start running another course since the Fed has no tools to combat another run.  

I have and these are the original numbers I posted back in July. It has the data points you suggest. If this trend continues, and I don't see why it would stop, with Biden's infrastructure plan in full swing, I expect 2024 to be a great year.  If I'm right then good for me.  If I'm wrong, I'll be the first to admit it.

According to the US Bureau of Labor June economic numbers:

Unemployment is 3.6% remaining the lowest it's been since the 1960s;

INFLATION is now back to a normal 3% without causing a recession;

Wage growth has increased by 1.2%;

Union Worker productivity doubles in 25 of 30 selected trades.

Biden continues to reduce our national debt.

Construction and infrastructure demand isn't going away.
------------------------------------------------------------------------------------------------------
Question for you, have you ever studied the Chinese economic models and how they used infrastructure building to build their way out of inflation? Find this in the article: China's Economic Growth and Reforms: 1979-the Present
https://www.everycrsreport.com/reports/RL33534.html

[BIGDADDYFROMCINCINNATI]

(08-08-2023, 07:21 PM)basballguy Wrote: So what you're saying is....you sided with literally every person on the right who thought a shutdown was a bad idea and throwing money at the problem was a worse idea?  

It pleases me to know you pretend to be liberal but are actually republican.  

Biden implemented the infrastructure plan, you know the plan Trump promised but it was a lie just like everything outta his goddamn mouth.  Lincoln project member and avid supporter.

[basballguy]

(08-08-2023, 07:22 PM)BIGDADDYFROMCINCINNATI Wrote: I have and these are the original numbers I posted back in July. It has the data points you suggest. If this trend continues, and I don't see why it would stop, with Biden's infrastructure plan in full swing, I expect 2024 to be a great year.  If I'm right then good for me.  If I'm wrong, I'll be the first to admit it.

According to the US Bureau of Labor June economic numbers:

Unemployment is 3.6% remaining the lowest it's been since the 1960s;

INFLATION is now back to a normal 3% without causing a recession;

Wage growth has increased by 1.2%;

Union Worker productivity doubles in 25 of 30 selected trades.

Biden continues to reduce our national debt.

Construction and infrastructure demand isn't going away.
------------------------------------------------------------------------------------------------------
Question for you, have you ever studied the Chinese economic models and how they used infrastructure building to build their way out of inflation? Find this in the article: China's Economic Growth and Reforms: 1979-the Present
https://www.everycrsreport.com/reports/RL33534.html

You've literally ignored the last page of posts that talk about how we will see the impacts of inflation over the next year.  I suggest you catch up on the posts for today as I don't feel like retyping everything I (or others) have said.   The factors you're touting as being great are the same factors we experienced right before our bout with hyper inflation.  

-Excessive wage growth is BAD for inflation and the economy (good for you and I at a smaller level) so that's not really something I'd hang my hat on.

-You are quite literally the first person I've ever encountered that uses "union productivity" as a measure of the economy...I'll just be ignorant here.  How is someone's productivity (more specifically a union workers) a measure of the economy?  Union works make up like 4% of the US workforce.  

-Unemployment is incredibly down, which is also driving wage growth.  Again...this is great for us on a smaller scale but bad for the overall picture.  

Side note: I don't know if you participate in the real world or not but the current unemployment numbers are misleading.  There are PLENTY of low to mid range jobs that are hiring....fedex delivery guys, mechanics, nurses, shit like that.  Corporate America is downsizing hardcore and people are having to get blue collar jobs instead of the white collar jobs they've trained their whole life for.  You got people that were making 150/year going down to 75/year.  That's not reflected anywhere in the BS you're peddling.

-And no, I've never studied China's economic models lol.  Have you?  Though I will read your article (which is incredibly long) when i can carve out the time....just because i'm giving you the benefit of the doubt.  

There is a balance to all of these factors which we do not have, dude.  

[treee]

(08-08-2023, 07:46 PM)basballguy Wrote: You've literally ignored the last page of posts that talk about how we will see the impacts of inflation over the next year.  I suggest you catch up on the posts for today as I don't feel like retyping everything I (or others) have said.   The factors you're touting as being great are the same factors we experienced right before our bout with hyper inflation.  

-Excessive wage growth is BAD for inflation and the economy (good for you and I at a smaller level) so that's not really something I'd hang my hat on.

-You are quite literally the first person I've ever encountered that uses "union productivity" as a measure of the economy...I'll just be ignorant here.  How is someone's productivity (more specifically a union workers) a measure of the economy?  Union works make up like 4% of the US workforce.  

-Unemployment is incredibly down, which is also driving wage growth.  Again...this is great for us on a smaller scale but bad for the overall picture.  

Side note: I don't know if you participate in the real world or not but the current unemployment numbers are misleading.  There are PLENTY of low to mid range jobs that are hiring....fedex delivery guys, mechanics, nurses, shit like that.  Corporate America is downsizing hardcore and people are having to get blue collar jobs instead of the white collar jobs they've trained their whole life for.  You got people that were making 150/year going down to 75/year.  That's not reflected anywhere in the BS you're peddling.

-And no, I've never studied China's economic models lol.  Have you?  Though I will read your article (which is incredibly long) when i can carve out the time....just because i'm giving you the benefit of the doubt.  

There is a balance to all of these factors which we do not have, dude.  

Pretty sure that most modern economists agree that wage-price spiral is not as significant contributor to inflation of as previously thought. That's not to say that it doesn't contribute, because it does, but that other factors like money velocity are a much larger contributor. In economies like ours where credit drives the economy, the availability of credit will do far more to spur or reduce inflation than wage growth. 

Also, productivity has outpaced wage gains for decades now. It is quite possible that what we are experiencing is the movement of the value of labor towards it's natural state when wage suppressing market factors and policy are shifted and/or removed.

[BIGDADDYFROMCINCINNATI]

(08-08-2023, 08:21 PM)treee Wrote: Pretty sure that most modern economists agree that wage-price spiral is not as significant contributor to inflation of as previously thought. That's not to say that it doesn't contribute, because it does, but that other factors like money velocity are a much larger contributor. In economies like ours where credit drives the economy, the availability of credit will do far more to spur or reduce inflation than wage growth. 

Also, productivity has outpaced wage gains for decades now. It is quite possible that what we are experiencing is the movement of the value of labor towards it's natural state when wage suppressing market factors and policy are shifted and/or removed.

That is why I'm referencing labor union productivity numbers.  Also, this is a canary in a coal mine indicator; Trump won in 2016 b/c many of the labor unions felt Hillary left them in favor of NAFTA and the TransPacific trade agreement and their jobs were being outsourced.  Bernie had union support but when the DNC nominated Hillary many voted for Trump or didn't vote at all, and that's one of the big reasons why Trump won in 2016.

Basballguy- Meaning by those wage growth numbers, Wages outpaced inflation by 1.2%, and there isn't one economist who thinks that's a bad thing. https://www.nbcnews.com/business/economy/americans-are-finally-getting-raise-thanks-lower-inflation-rcna93844

If the labor union members are happy and working hard, this will hands down equal a Biden win.

[CarolinaBengalFanGuy]

I was going to say I was still feeling inflation despite the OP's claim it was down, but it's mostly in food and some gas. Gas around here fluctuates terribly.

[BIGDADDYFROMCINCINNATI]

(08-09-2023, 12:50 AM)CarolinaBengalFanGuy Wrote: I was going to say I was still feeling inflation despite the OP's claim it was down, but it's mostly in food and some gas. Gas around here fluctuates terribly.

Click on the below, it's a great graph from the Bureau of Labor of Statistics referring inflation.
https://www.bls.gov/opub/ted/2023/consumer-prices-up-3-0-percent-over-the-year-ended-june-2023.htm
Consumer prices up 3.0 percent over the year ended June 2023, and wages outpaced inflation by 1.2%

---July 17, 2023---
Over the year ended, June 2023, consumer prices increased 3.0%, after increasing 4.0% over the year ended in May 2023. The June 2023 increase was the smallest 12-month increase since March 2021. A year earlier, in June 2022, the 12-month increase in overall prices was 9.1%, and had been 7.0% or higher in the preceding 6 months.

[Goalpost]

(08-09-2023, 03:57 AM)BIGDADDYFROMCINCINNATI Wrote: Click on the below, it's a great graph from the Bureau of Labor of Statistics referring inflation.
https://www.bls.gov/opub/ted/2023/consumer-prices-up-3-0-percent-over-the-year-ended-june-2023.htm
Consumer prices up 3.0 percent over the year ended June 2023, and wages outpaced inflation by 1.2%

---July 17, 2023---
Over the year ended, June 2023, consumer prices increased 3.0%, after increasing 4.0% over the year ended in May 2023. The June 2023 increase was the smallest 12-month increase since March 2021. A year earlier, in June 2022, the 12-month increase in overall prices was 9.1%, and had been 7.0% or higher in the preceding 6 months.

So I wouldn't jump the gun on this

.https://www.voanews.com/a/fed-officials-sketch-case-on-both-sides-of-rate-debate-/7214822.html

As you can read the Atlanta Fed governor wants more than just 1 month's worth of data.  I personally think we are there, but there is not a consensus yet.

[CarolinaBengalFanGuy]

(08-09-2023, 03:57 AM)BIGDADDYFROMCINCINNATI Wrote: Click on the below, it's a great graph from the Bureau of Labor of Statistics referring inflation.
https://www.bls.gov/opub/ted/2023/consumer-prices-up-3-0-percent-over-the-year-ended-june-2023.htm
Consumer prices up 3.0 percent over the year ended June 2023, and wages outpaced inflation by 1.2%

---July 17, 2023---
Over the year ended, June 2023, consumer prices increased 3.0%, after increasing 4.0% over the year ended in May 2023. The June 2023 increase was the smallest 12-month increase since March 2021. A year earlier, in June 2022, the 12-month increase in overall prices was 9.1%, and had been 7.0% or higher in the preceding 6 months.

Man I haven’t gotten a raise in over 2 years

[GMDino]

(08-09-2023, 09:07 AM)CarolinaBengalFanGuy Wrote: Man I haven’t gotten a raise in over 2 years

[Luvnit2]

(08-08-2023, 07:22 PM)BIGDADDYFROMCINCINNATI Wrote: I have and these are the original numbers I posted back in July. It has the data points you suggest. If this trend continues, and I don't see why it would stop, with Biden's infrastructure plan in full swing, I expect 2024 to be a great year.  If I'm right then good for me.  If I'm wrong, I'll be the first to admit it.

According to the US Bureau of Labor June economic numbers:

Unemployment is 3.6% remaining the lowest it's been since the 1960s;

INFLATION is now back to a normal 3% without causing a recession;

Wage growth has increased by 1.2%;

Union Worker productivity doubles in 25 of 30 selected trades.

Biden continues to reduce our national debt.

Construction and infrastructure demand isn't going away.
------------------------------------------------------------------------------------------------------

https://www.newsweek.com/fact-check-did-joe-biden-bring-down-national-debt-trillion-1799499

A tweet by RNC Research, posted on May 9, 2023 and viewed 300,000 times, stated that President Joe Biden had lied about reducing the national debt by $1.7 trillion.

The national debt has increased by around $3.5 trillion under the Biden administration, as data from Statista shows, currently standing at $31.46 trillion. Year-on-year the debt has never decreased since 1957, according to Treasury data.

As far as Trump, his spending spree happened due to Covid, look it up. Even CNN and other liberal outlets praised the Trump economy in 2018 prior to covid.

As for Biden, it was not normal for a Biden POTUS to run 15% inflation his first 2 years in office, but he did and now to say he is doing great by getting it down to 3 or 4% for one month is a stretch.

[Mickeypoo]

(08-08-2023, 07:22 PM)BIGDADDYFROMCINCINNATI Wrote: I have and these are the original numbers I posted back in July. It has the data points you suggest. If this trend continues, and I don't see why it would stop, with Biden's infrastructure plan in full swing, I expect 2024 to be a great year.  If I'm right then good for me.  If I'm wrong, I'll be the first to admit it.

According to the US Bureau of Labor June economic numbers:

Unemployment is 3.6% remaining the lowest it's been since the 1960s;

INFLATION is now back to a normal 3% without causing a recession;

Wage growth has increased by 1.2%;

Union Worker productivity doubles in 25 of 30 selected trades.

Biden continues to reduce our national debt.

Construction and infrastructure demand isn't going away.
------------------------------------------------------------------------------------------------------
Question for you, have you ever studied the Chinese economic models and how they used infrastructure building to build their way out of inflation? Find this in the article: China's Economic Growth and Reforms: 1979-the Present
https://www.everycrsreport.com/reports/RL33534.html

Lots of words and articles.  Cool.  Let me know when I get my 700-800 dollars back per month.  Until then it's all BS words that mean nothing.

[*Nately120*]

(08-09-2023, 11:53 AM)Mickeypoo Wrote: Let me know when I get my 700-800 dollars back per month.

Response from the GOP:  Have ya tried putting on yer workin' boots?

[Mickeypoo]

(08-09-2023, 11:56 AM)Nately120 Wrote: Response from the GOP:  Have ya tried putting on yer workin' boots?

Don't care and yes.  Been full time employed for the entire 31 years of my adult life with the exception of 6 months.

Response from the  Dems:  TRUUUUUUUMP!!!!!!!!