Biden creates an economic crisis--Unemployment, Inflation, risk of STAGLFATION increasing

[Big Blitz]

And make no mistake.....this is on Ds and free money.  Period.  

 

 

 

BREAKING: Unemployment Rate INCREASES, Numbers ‘Way Worse Than Expected’. Talk Of Inflation Grows.

 

 

CNBC: Hiring was a huge letdown in April, with nonfarm payrolls increasing by a much less than expected 266,000 and the unemployment rate rose to 6.1% amid an escalating shortage of available workers. Dow Jones estimates had been for 1 million new jobs and an unemployment rate of 5.8%.

 

BLOOMBERG: The numbers are out, and on the top line they are way worse than expected. Something seems very off: only 266,000 jobs created in April, and the unemployment rate ticked up to 6.1%, according to the report.

 

A separate report from CNN warned that “if you haven’t felt [inflation] yet, it’s coming.”

 

https://www.dailywire.com/news/breaking-unemployment-rate-increases-numbers-way-worse-than-expected-talk-of-inflation-grows

Edited July 25, 2022 by Big Blitz

[B-Man]

 

 

Yep.

 

Stop paying people not to work

 

 

 

 

 

[Boatdrinks]

Any of us who voted for Donald Trump knew this was going to happen if Biden were to attain the Presidency. Schumer, Sanders, Pelosi, AOC radical policies would be implemented. The results are already devastating and obvious. The worst is yet to come. I had to laugh as I glanced for a moment at a Buffalo News article yesterday- I would never buy that paper again and haven’t in over a year, but a copy was in the break room at work. The “ news article” blamed all these inflationary forces on things like Covid, global warming , and Donald Trump tariffs! What a joke! No wonder so many misinformed, foolish libs walking around these parts. They’re spoon fed propaganda at every turn from school through adulthood. 

[Big Blitz]

10 minutes ago, B-Man said:

 

 

Yep.

 

Stop paying people not to work

 

 

 

 

 

 

 

Omg 

 

Terrible.  

 

All because of Covid.  There were ZERO underlying economic problems until we brought them on ourselves....

 

No sorry.....China, Fauci, Ds, and Trump Derangement Syndrome did.

 

Boom here is 8 trillion in "stimulus" the bulk of which is to bail out broke locked down blue states.  

 

Nice work all around.  

Edited May 7, 2021 by Big Blitz

[Big Blitz]

 

[B-Man]

 

[BillStime]

2 minutes ago, B-Man said:

 

 

Poor people refusing to work unless they get paid more. Bonnie, who do they think they really are, CEOs?

 

Oh, and its a little early for this thread, @Big Blitz - considering the fact that Trump left Biden with the worst jobs record since Herbert Hoover.

 

 

[B-Man]

 

 

 

 

 

But hey, this is 2021. The press will do it for him without even being asked.

 

 

 

 

 

Edited May 7, 2021 by B-Man

[B-Man]

What Will You Do When Inflation Forces U.S. Households To Spend 40 Percent Of Their Incomes On Food?

by Michael Snyder

 

Did you know that the price of corn has risen 142 percent in the last 12 months? Of course corn is used in hundreds of different products we buy at the grocery store, and so everyone is going to feel the pain of this price increase. But it isn’t just the price of corn that is going crazy. We are seeing food prices shoot up dramatically all across the industry, and experts are warning that this is just the very beginning. So if you think that food prices are bad now, just wait, because they are going to get a whole lot worse.

 

 

https://markets.financialcontent.com/stocks/news/read/41316443/what_will_you_do_when_inflation_forces_u.s._households_to_spend_40_percent_of_their_incomes_on_food?

[BillStime]

Spot on...

 

 

 

[B-Man]

Joe Biden inherited a growing economy from President Trump. Thanks to Trump, we got COVID-19 vaccines in record time, paving the way for historic economic growth and recovery from the pandemic. But, based on these numbers, something has gone horribly wrong.

 

But hey, no mean tweets, right?

 

 

 

"The Jobs Report: The Boom That Wasn’t/April’s anemic job creation was so out of line with what other indicators have suggested that it will take some time to unravel the mystery" (NYT). 

 

From the article: 

Employers added only 266,000 jobs last month, the government reported Friday morning, not the million or so that forecasters expected. The unemployment rate actually edged up, to 6.1 percent.... These numbers are consistent with the story many business leaders are telling, of severe labor shortages — that demand has surged back but employers cannot find enough workers to fulfill it, at least at the wages they are accustomed to paying....

 

Back in 2010, the Obama administration introduced one of the more unfortunate economic messaging concepts of recent decades, announcing that a “Recovery Summer” was underway. It became a punchline, because while the economy was expanding, Americans were still far worse off than they’d been before the 2008 recession, and improvement was coming very slowly. That’s one outcome the Biden administration desperately wants to avoid.

 

https://www.nytimes.com/2021/05/07/upshot/jobs-report-surprise.html?smid=url-share

 

 

[Tiberius]

It will be ok. Biden will look all the better for the economic improvement by 2024. Good to get the bumps in the road out of the way early. That Joe has good timing! 
 

Now pass that infrastructure bill and crest even more jobs! 

[TSOL]

At least big oil is getting theirs. Thanks average Joe 

[Over 29 years of fanhood]

Build back bloat er..

 

What a disaster. The economy is getting worse as we get more vaccinated. 
 

Sitting here Incredulous that the leadership actually got even more incompetent than the last. I thought that was impossible. 

[Tiberius]

7 minutes ago, Over 29 years of fanhood said:

Build back bloat er..

 

What a disaster. The economy is getting worse as we get more vaccinated. 
 

Sitting here Incredulous that the leadership actually got even more incompetent than the last. I thought that was impossible. 

How is it getting worse? Whatever! 

 

This reminds me of you guys blaming the Bush recession on Obama

[B-Man]

 

 

Funny how it doesn't remind you of Obama declaring that he had inherited the worst economy since the depression ?

 

Well, not really, your selective memory is well known

 

 

 

 

 

"The Jobs Report: The Boom That Wasn’t/April’s anemic job creation was so out of line with what other indicators have suggested that it will take some time to unravel the mystery" (NYT). 

 

From the article: 

 

Employers added only 266,000 jobs last month, the government reported Friday morning, not the million or so that forecasters expected. The unemployment rate actually edged up, to 6.1 percent.... These numbers are consistent with the story many business leaders are telling, of severe labor shortages — that demand has surged back but employers cannot find enough workers to fulfill it, at least at the wages they are accustomed to paying....

 

Back in 2010, the Obama administration introduced one of the more unfortunate economic messaging concepts of recent decades, announcing that a “Recovery Summer” was underway. It became a punchline, because while the economy was expanding, Americans were still far worse off than they’d been before the 2008 recession, and improvement was coming very slowly. That’s one outcome the Biden administration desperately wants to avoid.

 

https://www.nytimes.com/2021/05/07/upshot/jobs-report-surprise.html?smid=url-share

[Chef Jim]

2 hours ago, BillStime said:

 

Poor people refusing to work unless they get paid more. 

 

Whatever happened to taking any work you could find to put food on the table until you could find something better. Personal pride is in the shitter. 

1 hour ago, Tiberius said:

It will be ok. Biden will look all the better for the economic improvement by 2024. Good to get the bumps in the road out of the way early. That Joe has good timing! 
 

Now pass that infrastructure bill and crest even more jobs! 

How do you feel about the jobs reports pre-pandemic?

 

Bad

Good

Very Good

Great

 

Chef Jim does not expect an answer. 

[Big Blitz]

2 hours ago, BillStime said:

 

Poor people refusing to work unless they get paid more. Bonnie, who do they think they really are, CEOs?

 

Oh, and its a little early for this thread, @Big Blitz - considering the fact that Trump left Biden with the worst jobs record since Herbert Hoover.

 

 

 

 

Sorry low info Bill.

 

No one is believing that lie.  Whatever b.s. jobs figures you conjured up from Trump's full 4 years will include the self inflicted CCP/DNC shutdown.  

 

Everything from March 2020 is on them.  Up until then.....Boomin.

Edited May 7, 2021 by Big Blitz

[Over 29 years of fanhood]

24 minutes ago, Tiberius said:

How is it getting worse? Whatever! 

 

This reminds me of you guys blaming the Bush recession on Obama

Unemployment just increased in the jobs report we just got. we’re supposed opening up and vaccinated. That’s unjustifiable.

 

Bond market is predicted signaling significant inflation.

 

Several  commodities are undergoing hyperinflation... 

 

Reopening was a political slam dunk and it’s being handled with neolithic incompetence. 

[BillStime]

37 minutes ago, Big Blitz said:

 

 

Sorry low info Bill.

 

No one is believing that lie.  Whatever b.s. jobs figures you conjured up from Trump's full 4 years will include the self inflicted CCP/DNC shutdown.  

 

Everything from March 2019 is on them.  Up until then.....Boomin.

If only Trump took the virus seriously in the beginning he still might be POTUS - lmao.

 

This will be a fun thread to revisit the next three years.

 

Democrats have a FAR better track record bringing the economy back to life after GQP incompetence.

 

 

[B-Man]

 

 

"I'm not going to shutdown the country. I'm going to shutdown the virus."

 

 

 

 

 

 

 

 

 

.

 

Looks like it's time to ramp up the Liz Cheney news cycle some more.

😂

 

 

[B-Man]

 

Thanks Joe........"we're on the right track"

 

 

 

THE BIDEN ECONOMY: 

 

Who’s Hiring And Who’s Firing In April: A Golden Age For Waiters And Card Dealers. 

 

“The reality is that the number could have been even worse: had it not been for some 187,000 workers added in food service and drinking places (i.e. waiters and bartenders) as well as 72,700 gambling, amusements and recreation workers (i.e., card dealers), the April print would have been virtually unchanged from last month.”

 

 

https://www.zerohedge.com/economics/whos-hiring-and-whos-firing-april-golden-age-waiters-and-card-dealers

 

 

[Chef Jim]

3 hours ago, BillStime said:

Spot on...

 

 

 

 

Huh.  I see an awful lot of middle class Americans shopping at places like Whole Foods, driving new cars and buying all the latest tech gadgets.  

 

Left out in the cold.  

[B-Man]

 

 

 

 

 

 

 

 

 

 

[ALF]

38 minutes ago, Chef Jim said:

 

Huh.  I see an awful lot of middle class Americans shopping at places like Whole Foods, driving new cars and buying all the latest tech gadgets.  

 

Left out in the cold.  

 

So you are saying Biden is doing a good job  ?

[Chef Jim]

9 minutes ago, ALF said:

 

So you are saying Biden is doing a good job  ?

Ha!  No.
 

I’m saying the American middle class is doing just fine. These observations predate the Biden Administration by a couple decades. 

[daz28]

Would anyone care to guess why this jobs report didn't have the same effect on Wall Street as it did on TBD?

[Chef Jim]

3 minutes ago, daz28 said:

Would anyone care to guess why this jobs report didn't have the same effect on Wall Street as it did on TBD?

Wall Street is thinking that because of the poor jobs report the Feds will keep the easy money flowing.  That’s not a guess. 

[All_Pro_Bills]

9 minutes ago, daz28 said:

Would anyone care to guess why this jobs report didn't have the same effect on Wall Street as it did on TBD?

Because "good news" on the economy can cause policy changes which result in rising interest rates and restrict/eliminate liquidity (read: money and credit) entering the financial markets which will lead to stock and bond market values to fall and end the party.  So a low number jobs number is good news for markets.  It means party on. 

My guess at this point is both the economy and markets are headed for 70's style inflation, which has already started, but we're in a lot worse shape to handle it now. 

Edited May 7, 2021 by All_Pro_Bills
bad spelling!

[Chef Jim]

1 minute ago, All_Pro_Bills said:

Because "good news" on the economy can cause policy changes which result in rising interest rates and restrict/eliminate liquidity (read: money and credit) entering the financial markets which will lead to stock and bond market values to fall and end the party.  So a low number jobs number is good news for markets.  It means party on. 

My guess at this point is both the economy and markets are headed for 70's style inflation, which has already started, but we'll in a lot worse shape to handle it now. 

As I mentioned above and ibe day in the market does not a Bear nor Bull make 

[daz28]

1 minute ago, Chef Jim said:

Wall Street is thinking that because of the poor jobs report the Feds will keep the easy money flowing.  That’s not a guess. 

Yeah, because historically that's true??  Good jobs report, stocks go up.  Poor jobs report, stocks go up.  Makes sense. 

[Chef Jim]

Just now, daz28 said:

Yeah, because historically that's true??  Good jobs report, stocks go up.  Poor jobs report, stocks go up.  Makes sense. 

The market is strangely fickle and moves for many reasons. What’s is your hypothesis as to why the market reacted the way it did today? 

[daz28]

3 minutes ago, Chef Jim said:

The market is strangely fickle and moves for many reasons. What’s is your hypothesis as to why the market reacted the way it did today? 

I think the unemployment numbers(rate) are good.  If there are still jobs to be filled, that's even better.  

[daz28]

21 minutes ago, All_Pro_Bills said:

Because "good news" on the economy can cause policy changes which result in rising interest rates and restrict/eliminate liquidity (read: money and credit) entering the financial markets which will lead to stock and bond market values to fall and end the party.  So a low number jobs number is good news for markets.  It means party on. 

My guess at this point is both the economy and markets are headed for 70's style inflation, which has already started, but we're in a lot worse shape to handle it now. 

I really don't think anyone was anticipating a rate hike anytime soon.  It's been effectively zero for like 15 months.

[All_Pro_Bills]

4 minutes ago, daz28 said:

I really don't think anyone was anticipating a rate hike anytime soon.  It's been effectively zero for like 15 months.

Absolutely.  The Fed isn't going to raise rates because they know it will tank the markets and the economy along with it.  They've been trying to create inflation for a while and are getting their wish.  They claim it is transitory and that will be the excuse to not act.  When they act it will be too late.  And as most trading is program trading algorithms that "read" headlines and then trade accordingly these news events can trigger big swings for good or not good reasons.  My main thesis is buy energy and precious metals shares for starters.

[Chef Jim]

17 minutes ago, daz28 said:

I think the unemployment numbers(rate) are good.  If there are still jobs to be filled, that's even better.  

If there are still jobs to be filled?  If??  Talk to people in retail and hospitality and see if there are jobs to be filled. 
 

Your point did play a role in the market. The market is a leading indicator and Wall Street is still betting on an economic recovery.  

[daz28]

4 minutes ago, Chef Jim said:

If there are still jobs to be filled?  If??  Talk to people in retail and hospitality and see if there are jobs to be filled. 
 

Your point did play a role in the market. The market is a leading indicator and Wall Street is still betting on an economic recovery.  

I don't have proof there's open jobs, but I know it's true.  That's why I think the rate of 6.1% is higher than it really is.  This thread was about an economy in peril, when we all know it's people choosing not to work, and collecting UI.  Keep in mind Trump was 100% on board with stimulus and unemployment bonuses and extensions.  Even if he won, this situation would be no different, so it's really not a 'Biden' issue at all.  This thread should be on Fox news as a hit piece.

[B-Man]

 

 

 

 

 

 

 

[Doc Brown]

Didn't last month's job report blow out expectations?  How are these estimates even calculated?

[B-Man]

31 minutes ago, Doc Brown said:

Didn't last month's job report blow out expectations?  How are these estimates even calculated?

 

 

I am afraid not.

 

And it was even lowered.

 

April Jobs Report Falls a Stunning 800,000 Short of Expectations

 

U.S. job growth for the month of April fell far below what experts had predicted, as data reported Friday showed an increase of 266,000 jobs, versus an estimate of 1 million — the largest miss relative to expectations since at least 1998.

The U.S. unemployment rate rose slightly from 6.0 percent to 6.1.

 

March’s payroll gains were also revised downward by nearly 150,000 jobs, from an initial print of 916,000 to 770,000.