And everyone with anti-Trump, pro-Biden points get a huge pass.

Here’s the real quote before you had your way with it.

The economy lost 2.9 million jobs. The unemployment rate increased by 1.6 percentage points to 6.3%.

Paychecks grew faster than inflation. Average weekly earnings for all workers were up 8.7% after inflation.

After-tax corporate profits went up, and the stock market set new records. The S&P 500 index rose 67.8%.

The international trade deficit Trump promised to reduce went up. The U.S. trade deficit in goods and services in 2020 was the highest since 2008 and increased 40.5% from 2016.

The number of people lacking health insurance rose by 3 million.

The federal debt held by the public went up, from $14.4 trillion to $21.6 trillion.

Home prices rose 27.5%, and the homeownership rate increased 2.1 percentage points to 65.8%.

Illegal immigration increased. Apprehensions at the Southwest border rose 14.7% last year compared with 2016.

Coal production declined 26.5%, and coal-mining jobs dropped by 16.7%. Carbon emissions from energy consumption dropped 11.5%.

Handgun production rose 12.5% last year compared with 2016, setting a new record.

The murder rate last year rose to the highest level since 1997.

Trump filled one-third of the Supreme Court, nearly 30% of the appellate court seats and a quarter of District Court seats.

https://www.factcheck.org/2021/10/trumps-final-numbers/

You cite inflation as if that gives us an accurate picture of the health of the economy and quote the Heritage Foundation's questionable claim that:

... families can no longer afford to live in Biden’s America.

The weasel here is the term "families". Under both administrations it is true that there are families that cannot afford to live. The question is, are there more or less families in poverty under Biden than under Trump?

The Heritage article failed to mention is that poverty rates have gone down significantly. Why did they neglect to state this? The answer is simple, it undermines their rhetoric about the financial condition of families in America.

According to Washington Monthly

Americans are also significantly wealthier than before Biden took office.

In June 2022, the average working American earned $74,643 in wages and salaries, compared to $74,624 in January 2021 and $70,274 in February 2020. Even with 9.5 million more people working, the average working person earned as much in June, after inflation, as when Biden took office. And compared to just before the pandemic, when employment was comparable to today, the average person earns 6.2 percent even after inflation.

This report was published in June, inflation rates have slowed since then. But the numbers alone do not tell the whole of the story.

We are in a global economy. It is basic economics that when supplies cannot keep up with demand prices go up. Global supply chains are not controlled by Biden or the United States.

The contextomy was quite obvious. You even removed the last half of one sentence in order to give weight to the first half. Sorry, pal, but this is disinfo of the highest order.

If you are referring to home prices, the fact is home prices rose. This is true whether or not home ownership also rose. But in fact, the increase in homeownership led to higher home prices [edit: supply and demand], which in turn led to even less affordable housing.

Do you really not understand any of this?

The economic position of the average American has declined. Even as wages increase, they're in worse shape. You see this as attributable to Biden?

Quid Pro Joe is at it again. According to the Saudis he was asking them to postpone their OPEC decision to cut oil production for another month, until after the midterms. I can’t think of any reason, moral, economic, or otherwise, that Biden would ask them to postpone such a move, besides that it benefits Biden and his party. Of course they declined.

https://www.cnbc.com/amp/2022/10/13/biden-admin-asked-saudi-arabia-to-postpone-opec-cut-by-a-month-saudis-say.html

The economic position of the average American has declined. Even as wages increase, they're in worse shape. You see this as attributable to Biden? — frank

I would say that the combination of Trump's and Biden's policies especially with the Corona pandemic did long term damage, because finally it got the inflation running when the pumped up financial markets would be in for deflation, assuming the market mechanism would be let to operate. Handing out cash to people finally could do it, and the two Presidents are guilty of this.

Just like the debacle in Afghanistan: only possible with both Trump and Biden.

But naturally this view is unacceptable for those with partisan views. :roll:

Handing out cash to people finally could do it, — ssu

If you're talking about the stimulus payments, I don't think that was enough to generate the inflation we're seeing. If you add up all the elements of the pandemic response, plus the subsequent labor shortage which made wages increase, supply line problems, a global petroleum shortage, and a sluggish Fed, all together, that gave us high inflation. The Fed is going to increase rates again this fall, but that isn't expected to stop inflation. We'll just have a recession with inflation. :grimace:

If you're talking about the stimulus payments, I don't think that was enough to generate the inflation we're seeing. — frank

The real reason is the fiscal and monetary policy implemented for decades. I think the basically all the Corona policies implemented just broke the dam.

The Fed is going to increase rates again this fall, but that isn't expected to stop inflation. We'll just have a recession with inflation. :grimace: — frank

I agree. It won't increase it to really take inflation down as the effects of positive real interest rates would be too horrible. Hence inflation continues. Not perhaps as high, but it does. And in a few years time, you will notice that prices have increased dramatically.

If Big Mac costs 5 dollars (?) in the US, few years from now it will be 10 dollars. And likely will be a bit smaller.



This is the future. It sucks. :yikes:

The real reason is the fiscal and monetary policy implemented for decades. I think the basically all the Corona policies implemented just broke the dam. — ssu

How so? Inflation hasn't been a problem for the past few decades.

Before.

Did you notice me talking about the dam breaking?

Before the dam breaks, everything is just fine and dry. Then when it breaks, things get wet.

This is an example of things being for long one way until they aren't.

I don't know enough about economics to assess that intelligently.

Well, you'll see it in 2027-2030 when you buy a BigMac.

If it's still 5 dollars, I was wrong.

Well, you'll see it in 2027-2030 when you buy a BigMac. — ssu

I don't buy Big Mac's. :grin:

Biden just forgave thousands of my student debt. Thanks Biden and Harris!

Biden just forgave thousands of my student debt. Thanks Biden and Harris! — Cobra

Yippee! I hope you become the next Ceasar



You're both correct. The damn has been erroding for decades. However we have always had, and continue to have, the means to maintain and reinforce the damn. The fact is, we have continually reinstated nitwits into office for the the past few decades...what else could we expect?

However we have always had, and continue to have, the means to maintain and reinforce the damn. — Merkwurdichliebe

It's stronger if you put "God" in front of it.

It's stronger if you put "God" in front of it. — frank

What's wrong with God? Blnd faith is what makes the world go round

And this is why inflation will be made to run as long as possible. It's one way to decrease the debt burden.

The last act of this long running play will be a financial crisis. And then politicians will always successfully blame anything and everything else but the real culprits of this tragedy.

The hard part is that nobody knows when this act happens. Will it happen next year or in 2030.

Blnd faith is what makes the world go round — Merkwurdichliebe

Belief in King Dollar is strong. Doesn't erode in a week.

Blnd faith is what makes the world go round — Merkwurdichliebe

That's so true.

Belief in King Dollar is strong. Doesn't erode in a week. — ssu

It's only King? I thought it was the Almighty. Times change I suppose. And it never takes a week, it takes a goddamn prolonged international communist conspiracy that saps our precious bodily fluids :rofl:

Well, the inflation finally came, even if it wasn't supposed to happen at all in an deflationary environment. And wasn't so transitory as suggested.

So things kind of things that people have anticipated for decades might actually happen.

But yeah, permabear scaremongering has it's audience always, at least for soothing pessimists that they are right.

Besides,

I've noticed not much enthusiasm for the incoming elections here.

Might the Republicans get both houses? What do people think?

To get speculative...Ive seen the toll presidency has on a person (bush, Obama &c.) Biden is obviously senile. Do you think Biden can survive a hostile congress?, could Harris be the first female president?

A Republican controlled Congress won't eat alive Joe. Not literally and not even in a figure of speech.

We don't have to go further than 2015-2017 to have a situation with a democratic president and both houses being in control of the Republicans. And the other way it was with George W Bush in 2007-2009. So this isn't anything new, if it happens.

The simple fact is that not much then will be done and assuming it's not Trump that the GOP takes on to be their candidate, it's a real possibility that Biden will have a four year presidency. A present day Jimmy Carter.

Yet with Trump, he's something that will activate and energize enough hatred among Americans that he won't be elected (and Biden might have a second turn). Something that happened when the Democrats chose the wife of a previous democrat president to run for the position, when enough Republicans remembered all the scandals of that previous administration.

Ah, "the polls" ... https://www.thedailybeast.com/pollsters-have-no-fcking-idea-whats-going-to-happen-during-2022-midterm-elections ... my own "poll" from abiut a year ago:

The rightwing SCOTUS will overturn Roe vs Wade in 2Q 2022 which will set-off a center-left firestorm through the summer and fall that will help the Dems (barely) hold on to control of BOTH houses of the US Congress in next year's midterm elections. — 180 Proof

Fuck the polls! :lol: :point:

This jam dropped 30 years ago (last Thursday), and the funk's still fresh! :fire:

I'm crossing my fingers for you, Brother.

:up:

It's funny how no one anywhere but in the US would ever consider voting Republican. The US political system is a tragedy.