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

[SoCal Deek]

Well, well, well….just read a long article that popped up on my Google feed this morning from guess who? CNN. It appears we’re staring at a recession after all. Go figure? Who knew? And according to CNN the culprit appears to be the Fed. No mention of the Biden Administration’s rampant spending policies whatsoever. But did find a second to take a jab at the new British PM for lowering taxes.  So increased spending (good) lowering taxes (bad). 
 

Bottom line: inflation was transient until it wasn’t. Recession wasn’t happening until is was.

 

Brilliant! At least we now know that we know that we know…. we’re in a recession. 

[Tiberius]

1 minute ago, SoCal Deek said:

Well, well, well….just read a long article that popped up on my Google feed this morning from guess who? CNN. It appears we’re staring at a recession after all. Go figure? Who knew? And according to CNN the culprit appears to be the Fed. No mention of the Biden Administration’s rampant spending policies whatsoever. But did find a second to take a jab at the new British PM for lowering taxes.  So increased spending (good) lowering taxes (bad). 
 

Bottom line: inflation was transient until it wasn’t. Recession wasn’t happening until is was.

 

Brilliant! At least we now know that we know that we know…. we’re in a recession. 

What is the unemployment rate now? 

[SoCal Deek]

Just now, Tiberius said:

What is the unemployment rate now? 

So you disagree with CNN? We aren’t on the brink of a recession? 

[Tiberius]

1 minute ago, SoCal Deek said:

So you disagree with CNN? We aren’t on the brink of a recession? 

We might be. No guarantees 

[SoCal Deek]

4 minutes ago, Tiberius said:

We might be. No guarantees 

I’m guessing we are. All signs point to it. While I appreciate the Biden Administration trying to cheerlead the nation out of one, at some point you have to level with the country. Rapidly rising prices are going to catch up with people and as the article lays out, then they stop buying stuff. When that happens, the recession hits and snowballs until it naturally eases and comes back out. It’s inevitable.

[Tiberius]

57 minutes ago, SoCal Deek said:

I’m guessing we are. All signs point to it. While I appreciate the Biden Administration trying to cheerlead the nation out of one, at some point you have to level with the country. Rapidly rising prices are going to catch up with people and as the article lays out, then they stop buying stuff. When that happens, the recession hits and snowballs until it naturally eases and comes back out. It’s inevitable.

You are cheerleading for economic malaise 

 

Sad

[All_Pro_Bills]

1 hour ago, Tiberius said:

What is the unemployment rate now? 

Recessions don't start with high unemployment.  They end with it.  Job openings are a more important indicator of business direction.  So that's something to watch.

[Tiberius]

6 minutes ago, All_Pro_Bills said:

Recessions don't start with high unemployment.  They end with it.  Job openings are a more important indicator of business direction.  So that's something to watch.

A recession with low employment. Biden just does things better.

 

[All_Pro_Bills]

Word out of the OPEC+ meeting is they are considering reducing their production limit by as much as 2 million barrels a day.  Add in the end of the SPR drain and that's 3 million per day coming off the table.

[SoCal Deek]

3 hours ago, Tiberius said:

You are cheerleading for economic malaise 

 

Sad

Cheerleading… no. Reporting …yes. 
Whereas I have absolutely no idea what you think you’re doing. 

[B-Man]

Just now, SoCal Deek said:

Cheerleading… no. Reporting …yes. 
Whereas I have absolutely no idea what you think you’re doing. 

 

 

 

AMEN.

 

That "cheerleading" dodge by the Left is older than me.

 

 

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[SoCal Deek]

2 minutes ago, B-Man said:

 

 

 

AMEN.

 

That "cheerleading" dodge by the Left is older than me.

 

 

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Apparently Tibs believes that when the history of the current recession is written its causation will be traced back to my post on a Buffalo Bills related message board. ( It’ll be right up there with that cartoonist from Cincinnati that was the root cause of Benghazi.)

[Doc]

4 hours ago, Tiberius said:

You are cheerleading for economic malaise 

 

Sad

 

Dems would never do that...

[Big Blitz]

Is this good?

 

 

[B-Man]

 

 

 

 

 

 

 

 

 

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[B-Man]

 

 

A little more current than 2008. . . . . . . .  😂

 

 

 

US oil and gas industry MOCKS Biden after OPEC announced production cuts:

 

Energy groups say administration now has no choice but to come ‘crawling back’ to domestic producers in bid to lower prices.

 

 

https://www.dailymail.co.uk/news/article-11285801/US-oil-industry-says-Biden-boost-domestic-output-OPEC-cuts.html

 

 

 

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[Big Blitz]

Layoffs rising as the U.S. economy slows

 

Layoff announcements spiked in September, according to outplacement firm Challenger, Gray & Christmas. Job cuts last month rose to nearly 30,000, an increase of 46% from August, while the number of companies announcing hiring plans last month fell to the lowest level in more than a decade, the firm said.

 

"Some cracks are beginning to appear in the labor market. Hiring is slowing and downsizing events are beginning to occur," Andrew Challenger, senior vice president of Challenger, Gray & Christmas, said in a statement.

 

Applications for jobless aid generally reflect layoffs, which have remained historically low since the initial purge of more than 20 million jobs at the start of the coronavirus pandemic in the spring of 2020. However, the technology sector has seen a hiring slowdown, with dozens of companies announcing layoffs or hiring freezes. Last week, Meta said it planned to reduce headcount for the first time in the company's history.

 

Netflix, Peloton, Snap, Twilio, Taboola and Twitter have all announced layoffs. Google parent Alphabet has shut its video-game streaming service, Stadia, and Amazon has reportedly frozen corporate hiring in its retail division.

 

https://www.cbsnews.com/sacramento/news/layoffs-initial-unemployment-claims-jobless-benefits-2022-10-06/

[B-Man]

 

 

Biden hates Republicans so much, he would rather give oil money to Venezuela and Saudi Arabia than Texas.

 

It’s been a tough year for consumers, inflation is killing household budgets, and according to KPMG, 91% of top CEOs expect a long, tough recession. The Biden administration is even ready to reduce sanctions on Venezuela to get more oil flowing. So it’s desperate. But not desperate enough to undo the damage it’s done to the domestic oil industry, which is the first thing it’d do if it were serious.

 

Why not? There are a lot of reasons. Greens, who dominate the Democrats, don’t like fossil fuels. But there’s no reason to think that Saudi, Russian or Venezuelan oil is any better for the planet than American oil. It’s just a question of whether the money goes to Saudis, Russians or Venezuelans or to Americans.

 

And I suspect that’s the real problem. The domestic oil industry enriches people — and states — Democrats don’t like.

 

Money going to Saudis, Russians or Venezuelans is one thing, but money going to Texans, Oklahomans or South Dakotans is another. Truth is, red states and their inhabitants rank higher on the administration’s enemies list than do shady foreign nations.

 

 

 

 

Read the whole thing.

 

https://nypost.com/2022/10/06/biden-hates-republicans-so-much-he-would-rather-give-oil-money-to-venezuela-and-saudi-arabia-than-texas/

 

 

 

[BillStime]

Go JOE go

 

 

[B-Man]

 

 

 

                                              

 

 

 

 

 

 

 

                                              

 

 

 

 

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