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


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I’ve written it before and I’ll write it many more times over the next several years. You get what you vote for, and policy always outweighs personality in the end. If you were shallow enough to vote against Donald Trump and a roaring economy because you wanted the government to represent some quasi-religious bastion of decorum instead, congrats and enjoy your consequences.

 

--Bonchie

 

 

 

 

‘Black unemployment rate rose to 9.7%’:

 

https://twitchy.com/samj-3930/2021/05/07/black-unemployment-rate-rose-to-9-7-mollie-hemingway-breaks-down-jobs-report-by-the-numbers-and-its-even-worse-than-we-thought/

 

 

 

 

 

 

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21 minutes ago, B-Man said:

 

I’ve written it before and I’ll write it many more times over the next several years. You get what you vote for, and policy always outweighs personality in the end. If you were shallow enough to vote against Donald Trump and a roaring economy because you wanted the government to represent some quasi-religious bastion of decorum instead, congrats and enjoy your consequences.

 

--Bonchie

 

 

 

 

‘Black unemployment rate rose to 9.7%’:

 

https://twitchy.com/samj-3930/2021/05/07/black-unemployment-rate-rose-to-9-7-mollie-hemingway-breaks-down-jobs-report-by-the-numbers-and-its-even-worse-than-we-thought/

 

 

 

 

 

 


You get what you vote for...

 

...imagine the unemployment rate had they raised minimum wage to $15/hour

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11 hours ago, Over 29 years of fanhood said:


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. 

 

 

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9 hours 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?

Easy.  Less pressure on Powell to raise interest rates.  Bad news on Main Street can sometimes mean a good day for Wall Steeet.  Unemployment ticking up also helps in that regard.

Edited by Doc Brown
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8 hours ago, daz28 said:

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.

Trumps the guy who out of the blue said 2,000 dollar checks bucking his party that the Dems eventually passed through reconciliation.  I doubt that gets done without him.

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8 hours ago, BillStime said:


You get what you vote for...

 

...imagine the unemployment rate had they raised minimum wage to $15/hour

The min wage us a boogie man. I suggest it is not a problem since it is equal for all. It does devalue but equality is a balancing. Free bees, welfare, food stamps, are more damaging,  helping few, creates a % of the population who does not participate in the economy and flows money to the drug culture in many cases.

Much easier to spend government money on drugs than earned money.

It is hard to stand on the corner, or hide with your needle when you are working for a good wage. 

A new baby should not equate to a raise in welfare.

A higher min wage helps lift the veil off the non participating population. 

 

I understand the competition stuff, but it is far less than you may think.

The government can reduce other contributions based on wage rate by reducing % at the same time. Put the population to work.

 

 

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15 hours ago, daz28 said:

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.

You think unemployment is lower than 6 percent?

 

Remember that they only count people who are “actively” searching for work, which until 1 month ago was none, due to the pandemic.

 

The real number is much higher.

 

1 million new people were applying for UI every week since last April. That number didn’t start to come down until just a few months ago.

 

 

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20 hours 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. 

The economy is getting worse?

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Why no one needs to work in Biden's America: Experts project anyone who earned $32,000 before COVID could now
earn MORE in benefits staying at home

 by Jennifer Smith

 

People who lost their jobs in the pandemic are now earning more in benefits than they did in wages, creating a nightmare economic situation that is stopping people from returning to work and in turn, driving up inflation.

 

https://www.dailymail.co.uk/news/article-9554395/Americans-getting-benefits-wages-stopping-economic-recovery.html

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11 hours ago, BillStime said:

 

 

 

 

 

Ahhhh.......

 

The moment I knew when Covid was bull s***

 

 

Low info lefties celebrating 20 million lost jobs all self inflicted due to a government "imposed" shutdown.  Somehow that was Trump's economy.  

 

 

Amazing.  You can't work when the government is staying we have to shelter in place and mitigate for 15.....30....45.....2 more weeks.......maybe August 1......no until percent positives are low......so Trump can't hold rallies.......ok till a vaccine........no wait.......until the numbers are "lower."  

 

 

Things the Left doesn't understand:

 

Math

Economics

Science 

Logic 

Reason 

The Constitution 

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5 minutes ago, Big Blitz said:

 

 

 

Ahhhh.......

 

The moment I knew when Covid was bull s***

 

 

Low info lefties celebrating 20 million lost jobs all self inflicted due to a government "imposed" shutdown.  Somehow that was Trump's economy.  

 

 

Amazing.  You can't work when the government is staying we have to shelter in place and mitigate for 15.....30....45.....2 more weeks.......maybe August 1......no until percent positives are low......so Trump can't hold rallies.......ok till a vaccine........no wait.......until the numbers are "lower."  

 

 

Things the Left doesn't understand:

 

Math

Economics

Science 

Logic 

Reason 

The Constitution 


Let’s keep track of this thread big guy... we will see how it pans out. More faith in Democrats than anti-democracy types.

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Dem states just now getting around to a kind of sort of reopening , while FLA , et al have been chugging along for months already. Libs too worried about how much freedom they’ll “ allow” to worry about the economy. Paid 0.80 more per gallon of gas today than I did in October. Only going to go higher. 

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1 minute ago, Boatdrinks said:

Dem states just now getting around to a kind of sort of reopening , while FLA , et al have been chugging along for months already. Libs too worried about how much freedom they’ll “ allow” to worry about the economy. Paid 0.80 more per gallon of gas today than I did in October. Only going to go higher. 


Who sets gas prices?

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7 hours ago, Doc said:

Yup, it will be getting worse.  Hopefully I'm wrong.

Let us know...ahead of time...what metrics you will be using to determine that the economy is getting worse....I mean other than the right wing headlines that @bman incessantly posts....

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23 hours ago, Doc Brown said:

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

The second part of the question is the issue. The "experts" are not particularly good at their predictions but politicians know how to use the numbers to their advantage 

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2 hours ago, TH3 said:

Let us know...ahead of time...what metrics you will be using to determine that the economy is getting worse....I mean other than the right wing headlines that @bman incessantly posts....

 

Well, I could show you...

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14 hours ago, Niagara Bill said:

The min wage us a boogie man. I suggest it is not a problem since it is equal for all. It does devalue but equality is a balancing. Free bees, welfare, food stamps, are more damaging,  helping few, creates a % of the population who does not participate in the economy and flows money to the drug culture in many cases.

Much easier to spend government money on drugs than earned money.

It is hard to stand on the corner, or hide with your needle when you are working for a good wage. 

A new baby should not equate to a raise in welfare.

A higher min wage helps lift the veil off the non participating population. 

 

I understand the competition stuff, but it is far less than you may think.

The government can reduce other contributions based on wage rate by reducing % at the same time. Put the population to work.

 

 

I agree with your overall premise that the straight welfare for doing nothing is worse than minimum wage but minimum wage should be considered your first step, so keep it low 

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12 hours ago, TH3 said:

Let us know...ahead of time...what metrics you will be using to determine that the economy is getting worse....I mean other than the right wing headlines that @bman incessantly posts....

The economy is doing ok now, everyone is out finger popping spending that socialist er stimulus cash...

when that runs out, and gas, food and energy prices skyrocket it will get really, really bad.

 

As far as Bman's posts go, they aren't right wing headlines, they are truth. The lyin' denying lefties despise and

ignore the truth, because....

 

 

 

Edited by Unforgiven
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14 hours ago, TH3 said:

Let us know...ahead of time...what metrics you will be using to determine that the economy is getting worse....I mean other than the right wing headlines that @bman incessantly posts....

 

The same metrics everyone has used forever maybe?  :doh:

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Yeah, the unemployment benefit needs to go quickly.  I was at a restaurant last night and the owner, who bought the (25 year old) restaurant 3 years ago said that he's having trouble finding workers.  There are the people who have been there for decades, but on Cinco de Mayo he had 20 workers and last night he could only rustle-up 10.  And places like Denny's and local places are closing at 5 PM because they can't find people to work.

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35 minutes ago, Doc said:

Yeah, the unemployment benefit needs to go quickly.  I was at a restaurant last night and the owner, who bought the (25 year old) restaurant 3 years ago said that he's having trouble finding workers.  There are the people who have been there for decades, but on Cinco de Mayo he had 20 workers and last night he could only rustle-up 10.  And places like Denny's and local places are closing at 5 PM because they can't find people to work.

 

I can agree with reducing UI benefits to see what happens . School at virtual and a lot less childcare  make mothers stay home or fear of passing covid to the still vulnerable. When school year is over students will take the restaurant jobs . Still not sure if evictions and foreclosures might happen.

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Biden promised his Wall Street donors that “no one’s standard of living will fundamentally change.” What he really meant is he would continue everything Trump was doing while giving platitudes about “hope & change”.
 

The system continues no matter who’s in charge BlueMaga or RedMaga. We still get the same Ivy League elitists who do propaganda for the .01% who run out government.  
 

What we are collectively experiencing is the fast decline of US empire & failure of our neoliberal government, built around militarism, cronyism, monopolistic capitalism eating itself.

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1 hour ago, Dr.Sack said:

Biden promised his Wall Street donors that “no one’s standard of living will fundamentally change.” What he really meant is he would continue everything Trump was doing while giving platitudes about “hope & change”.
 

The system continues no matter who’s in charge BlueMaga or RedMaga. We still get the same Ivy League elitists who do propaganda for the .01% who run out government.  
 

What we are collectively experiencing is the fast decline of US empire & failure of our neoliberal government, built around militarism, cronyism, monopolistic capitalism eating itself.

 

Those who enter government essentially have 2 paths: stay and become like everyone else or leave because you don't want to.  If they stay, then they're in it to get the most money they can without pissing-off enough people to vote them out.

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5 hours ago, oldmanfan said:

Time to recall the unemployment monthly benefit.  Use it for infrastructure.

I can’t understand why unemployment is free. In this day in the age, people collecting prolonged unemployment benefit are basically on a government payroll. Why have them work for that money. 
 

and that ‘they need the time to find a job” stuff is nonsense. The majority of the working world looks for a new job while working the current one. 

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30 minutes ago, Over 29 years of fanhood said:

I can’t understand why unemployment is free. In this day in the age, people collecting prolonged unemployment benefit are basically on a government payroll. Why have them work for that money. 
 

and that ‘they need the time to find a job” stuff is nonsense. The majority of the working world looks for a new job while working the current one. 

There was a purpose for it earlier.  Time to rein it in now.

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2 hours ago, oldmanfan said:

No.  We desperately need infrastructure.

 

You have no idea the infrastructure work being done here in CA.  We're good. 

 

And when we have a bill that addresses that you'll be sure to let me know correct?

1 hour ago, oldmanfan said:

There was a purpose for it earlier.  Time to rein it in now.

 

That's not how the government teat works and you know it.  They never ever turn the spigot off. 

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31 minutes ago, Chef Jim said:

 

You have no idea the infrastructure work being done here in CA.  We're good. 

 

And when we have a bill that addresses that you'll be sure to let me know correct?

 

That's not how the government teat works and you know it.  They never ever turn the spigot off. 

They’re working on the bill as you know.  Quit being deliberately obsequious.

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