The Biden Boom: Biden's Economy Has the Best Growth Record Since 1969

[Precision]

20 minutes ago, TSOL said:

So you're saying it's a good time to buy? 

The smart money never fully left the market.  Anyone foolish enough to completely leave the market missed the opportunity to make at least 15% on their investments YTD. 

 

I really care about stock market returns and investing hence the reason why I'm retired and in my mid 50's.  

[BillStime]

🎯

 

 

[The Frankish Reich]

I've been clear about my opinion: the good economic numbers don't mean "Bidenomics" is working.

But any criticism of Biden - any fair criticism (do we have that here?) - has to acknowledge that the U.S. economy is in far better shape than any of our competitors in the post-pandemic world.

Maybe that says more about the resilience of our people or our economy than it does about White House/governmental policy. Maybe it says more about how the ostensibly independent Fed has managed inflation than it does about the performance of the political branches. Whatever. It's still a fact, and it's a fact that every incumbent President knows will accrue to his advantage.

https://www.ft.com/content/80ace07f-3acb-40cb-9960-8bb4a44fd8d9

Europe has fallen behind America and the gap is growing

From technology to energy to capital markets and universities, the EU cannot compete with the US

 

https://thehill.com/homenews/administration/4123768-surprisingly-strong-economy-shifts-political-calculations/

 

Edited July 28, 2023 by The Frankish Reich

[SoCal Deek]

2 minutes ago, The Frankish Reich said:

I've been clear about my opinion: the good economic numbers don't mean "Bidenomics" is working.

But any criticism of Biden - any fair criticism (do we have that here?) - has to acknowledge that the U.S. economy is in far better shape than any of our competitors in the post-pandemic world.

Maybe that says more about the resilience of our people or our economy than it does about White House/governmental policy. Maybe it says more about how the ostensibly independent Fed has managed inflation than it does about the performance of the political branches. Whatever. It's still a fact, and it's a fact that every incumbent President knows will accrue to his advantage.

 

https://thehill.com/homenews/administration/4123768-surprisingly-strong-economy-shifts-political-calculations/

 

I generally agree Frank. Two points: First, I said for years that the Fed should’ve been slowly raising rates in times of plenty so that they could then both raise and lower them should the need arise (luckily we didn’t need to lower them). Second, the administration’s recent bragging about the slowing of inflation is completely ridiculous. They are comparing the RATE of inflation, and not the EXISTENCE of inflation. It makes no difference to people if prices aren’t going up as fast if everything is already too expensive from the previous year’s inflation. 

[BillStime]

🎯

 

 

[Irv]

This whole Bidenomics is laughable.  Coming out of the pandemic, we should have bounced back 10X what has happened.  More lies.  ***** gas prices going back up $4/gallon.  You've got to a complete moron to believe what he says.  What a mess.  

[Tommy Callahan]

the numbers on tax revenue being down, again is not a positive sign.

 

or the unemployment numbers being revised to show so many working part time.

 

Employment Situation Summary - 2023 M07 Results (bls.gov)

 

https://fred.stlouisfed.org/series/A074RC1Q027SBEA

 

The number of persons not in the labor force who currently want a job was 5.2 million in July, little changed from the prior month. These individuals were not counted as unemployed because they were not actively looking for work during the 4 weeks preceding the survey or were unavailable to take a job.

 

https://twitter.com/zerohedge/status/1677306320771317761?ref_src=twsrc^tfw|twcamp^tweetembed|twterm^1677306320771317761|twgr^5244473230421bbf3f4ed363e0115500900dc245|twcon^s1_&ref_url=https%3A%2F%2Fwww.zerohedge.com%2Fmarkets%2Finside-todays-disastrous-jobs-report-part-time-jobs-soar-1-million-full-timers-crash

Edited August 4, 2023 by Chris farley

[BillsFanNC]

You realize the fed raising rates like they have is so that there's room to cut them before the election, right?

[TSOL]

1 hour ago, BillsFanNC said:

You realize the fed raising rates like they have is so that there's room to cut them before the election, right?

 

 

Will it matter with the Saudis bending sleepy Joe  over an oil barrel and having their way with him. 

 

We are in for a rough next 12 months 

[Joe Ferguson forever]

1 hour ago, TSOL said:

 

 

Will it matter with the Saudis bending sleepy Joe  over an oil barrel and having their way with him. 

 

We are in for a rough next 12 months 

The soft landing away from recession is more likely than not.  Threading the needle.  so far, so good.

 

but you have strange dreams...

Edited August 5, 2023 by redtail hawk

[Irv]

2 hours ago, redtail hawk said:

The soft landing away from recession is more likely than not.  Threading the needle.  so far, so good.

 

but you have strange dreams...

 

You must be living in a different United States.  Unbelievable.  What a mess.  

[Joe Ferguson forever]

24 minutes ago, Irv said:

 

You must be living in a different United States.  Unbelievable.  What a mess.  

There's only one.... do you believe in American exceptionalism?  Or is that now elitist?  Eventually, the best win.  As it should be.  Or do you prefer communism or socialism?

 

 

Edited August 5, 2023 by redtail hawk

[Irv]

35 minutes ago, redtail hawk said:

There's only one.... do you believe in American exceptionalism?  Or is that now elitist?  Eventually, the best win.  As it should be.  Or do you prefer communism or socialism?

 

 

 

This is an honest question.    Explain to me how Biden has done well with the following:

1. Gas Prices
2. Food Prices
3. Housing Prices
4. Healthcare Prices
5. Interest Rates

I think these are the basic things Americans care about financially.  Please educate me.  

[Joe Ferguson forever]

8 hours ago, Irv said:

 

This is an honest question.    Explain to me how Biden has done well with the following:

1. Gas Prices
2. Food Prices
3. Housing Prices
4. Healthcare Prices
5. Interest Rates

I think these are the basic things Americans care about financially.  Please educate me.  

1-4 are real problems.  spending trillions to get all of us through Covid

 played a large role.  You have to pay the piper sometime.  Could still result in full blown recession.  Then the f'in Ruskies invading Ukraine raised oil prices which raises prices on everything.  Which shows why we need NATO and shouldn't be isolationist as trump desires...but yes.  people are hurting.  Maybe we should increase the minimum wage and increase taxes on the uber wealthy to even things up a little?

As far as #5.  imo interest rates were way too low.  Of course, I'm retired and want some safe haven investments.

[JDHillFan]

21 minutes ago, redtail hawk said:

1-4 are real problems.  spending trillions to get all of us through Covid

 played a large role.  You have to pay the piper sometime.  Could still result in full blown recession.  Then the f'in Ruskies invading Ukraine raised oil prices which raises prices on everything.  Which shows why we need NATO and shouldn't be isolationist as trump desires...but yes.  people are hurting.  Maybe we should increase the minimum wage and increase taxes on the uber wealthy to even things up a little?

As far as #5.  imo interest rates were way too low.  Of course, I'm retired and want some safe haven investments.

So in summary, Biden has not been successful with any of the above. At least we can look forward to the soft landing you highlighted.
 

Trump is most assuredly behind it all. F that guy. 

 

Average price per gallon is up .30 in the last month. Are we still calling it Putin’s price hike?

[Joe Ferguson forever]

2 minutes ago, JDHillFan said:

So in summary, Biden has not been successful with any of the above. At least we can look forward to the soft landing you highlighted.
 

Trump is most assuredly behind it all. F that guy. 

 

Average price per gallon is up .30 in the last month. Are we still calling it Putin’s price hike?

did I mention threading the needle?

[SoCal Deek]

Like all things…this isn’t complicated. The Left is absolutely committed to a more expensive Green agenda/lifestyle. There’s really no way around it. What I find curious is why they just can’t admit it. You can only blame Russia for so long. 

[All_Pro_Bills]

22 minutes ago, SoCal Deek said:

Like all things…this isn’t complicated. The Left is absolutely committed to a more expensive Green agenda/lifestyle. There’s really no way around it. What I find curious is why they just can’t admit it. You can only blame Russia for so long. 

Actually, the invasion of Ukraine didn't cause energy prices to rise.  The sanctions on Russian energy exports lead to an increase in energy prices.  Add to this the disruptions to global energy arrangements and trade that contributed to the price movements and supply disruptions.  Some of that is behind use, some of it isn't.  One consequence is the new-found pricing power of OPEC+ with the Saudi's and the Russians working in coordination to manage supply in an effort to keep prices near the $80 bbl level.  China and India have been big buyers of Russian crude and have participated in some sanction busting deals by taking possession of oil shipments and flipping them to another buyer at a profit.  The administration is hesitant to employ sanctions against either and in some respects allows the arrangement which help keep global and US energy prices lower while continuing the perception that tough sanctions against Russia are effective.  

 

Another thing was the seizing of Russian central bank assets held in the banking system.  Unprecedented.  One consequence is this caused many countries to question the reliability and safety of holding US dollars as reserves.  What's stopping Washington from doing the same thing to another country is they're displeased?  Nothing.  Many other countries are considering the benefits of de-dollarizing their economies.  Or seeking trade arrangements in other currencies, such as the Saudi's.  Or selling of treasury bond holdings, such as China.  Many other countries are selling dollars, buying gold or other national currencies to cut their risk to central bank reserves.  While none of this has had much material impact to date at some tipping point it will.  What that point is I have no idea.

Edited August 5, 2023 by All_Pro_Bills

[SoCal Deek]

4 minutes ago, All_Pro_Bills said:

Actually, the invasion of Ukraine didn't cause energy prices to rise.  The sanctions on Russian energy exports lead to an increase in energy prices.  Add to this the disruptions to global energy arrangements and trade that contributed to the price movements and supply disruptions.  Some of that is behind use, some of it isn't.  One consequence is the new-found pricing power of OPEC+ with the Saudi's and the Russians working in coordination to manage supply in an effort to keep prices near the $80 bbl level.  China and India have been big buyers of Russian crude and have participated in some sanction busting deals by taking possession of oil shipments and flipping them to another buyer at a profit.  The administration is hesitant to employ sanctions against either and in some respects allows the arrangement which help keep global and US energy prices lower while continuing the perception that tough sanctions against Russia are effective.  

 

Another thing was the seizing of Russian central bank assets held in the banking system.  Unprecedented.  One consequence is this caused many countries to question the reliability and safety of holding US dollars as reserves.  What's stopping Washington from doing the same thing to another country is they're displeased?  Nothing.  Some a lot of countries are de-dollarizing.  Or seeking trade arrangements in other currencies, such as the Saudi's.  Or selling of treasury bond holdings, such as China.  Many other countries are selling dollars, buying gold or other national currencies to cut their risk to central bank reserves.  While none of this has had much material impact to date at some tipping point it will.  What that point is I have no idea.

Thanks…but….You’ll notice I didn’t say the Russia invasion caused prices to rise. What I said is that the Left is blaming the cost of their more expensive energy strategy on the Russian invasion. 

[Joe Ferguson forever]

3 hours ago, SoCal Deek said:

Like all things…this isn’t complicated. The Left is absolutely committed to a more expensive Green agenda/lifestyle. There’s really no way around it. What I find curious is why they just can’t admit it. You can only blame Russia for so long. 

Do I want my face to melt and  to drive on bubbling asphalt in May?  Nope.

[SoCal Deek]

2 minutes ago, redtail hawk said:

Do I want my face to melt and  to drive on bubbling asphalt in May?  Nope.

 

2 minutes ago, redtail hawk said:

Do I want my face to melt and  to drive on bubbling asphalt in May?  Nope.

Isn’t it early to be hitting the sauce? 

[Joe Ferguson forever]

3 hours ago, SoCal Deek said:

Like all things…this isn’t complicated

It's like you're setting me up...

 

In Mathematics, a differential equation is an equation with one or more derivatives of a function. The derivative of the function is given by dy/dx. In other words, it is defined as the equation that contains derivatives of one or more dependent variables with respect to one or more independent variables.

2 minutes ago, SoCal Deek said:

 

Isn’t it early to be hitting the sauce? 

aren't you in the pacific time zone, somewhere exotic?

[Irv]

8 minutes ago, redtail hawk said:

It's like you're setting me up...

 

In Mathematics, a differential equation is an equation with one or more derivatives of a function. The derivative of the function is given by dy/dx. In other words, it is defined as the equation that contains derivatives of one or more dependent variables with respect to one or more independent variables.

aren't you in the pacific time zone, somewhere exotic?

Multilinear regression analysis.  

[SoCal Deek]

7 minutes ago, redtail hawk said:

It's like you're setting me up...

 

In Mathematics, a differential equation is an equation with one or more derivatives of a function. The derivative of the function is given by dy/dx. In other words, it is defined as the equation that contains derivatives of one or more dependent variables with respect to one or more independent variables.

aren't you in the pacific time zone, somewhere exotic?

Hawk…I’m an architect. We took calculus! 
 

Back on topic. My house has been solar powered for almost twenty years, I drive an electric vehicle, and I live in the most temperate climate in America. What you got? What’ve you been doing? 

[Joe Ferguson forever]

16 minutes ago, Irv said:

Multilinear regression analysis.  

not even going to look that up.  it will make my head ache.

[JDHillFan]

Just now, redtail hawk said:

not even going to look that up.  it will make my head ache.

So long as you promise not to pretend you are an expert at reading climate charts while everyone else is too dense to comprehend them. We’ve seen where that leads. 

[Joe Ferguson forever]

16 minutes ago, SoCal Deek said:

Hawk…I’m an architect. We took calculus! 
 

Back on topic. My house has been solar powered for almost twenty years, I drive an electric vehicle, and I live in the most temperate climate in America. What you got? What’ve you been doing? 

Lately, I've been staying home a lot.  We also don't drive all that much other than a few trips a year.  Pretty much everything we need is within 5 miles.  Priced solar but still doesn't pay for itself over my life expectancy.  Will replace my cars with electric when they die.  So why are you complaining that liberals are pushing green down everyone's throat.  We're not.  We just want to move at a reasonable rate in that direction.

[SoCal Deek]

5 minutes ago, redtail hawk said:

Lately, I've been staying home a lot.  We also don't drive all that much other than a few trips a year.  Pretty much everything we need is within 5 miles.  Priced solar but still doesn't pay for itself over my life expectancy.  Will replace my cars with electric when they die.  So why are you complaining that liberals are pushing green down everyone's throat.  We're not.  We just want to move at a reasonable rate in that direction.

I’m not complaining. What I said was that the Left isn’t willing to tell people what you’ve just admitted you already figured out…it’s expensive! And it’s going to require lots of sacrifices, such as not driving anywhere and not getting a new car. In short, a SIGNIFICANT lessening of their standard of living for all but folks like me who can afford it. Get it? 

[JDHillFan]

6 minutes ago, redtail hawk said:

Priced solar but still doesn't pay for itself over my life expectancy.

Is it the case that you support green initiatives only if you are to profit or at least break even from them? What about the greater good? That doesn’t sound very progressive. Kind of limousine liberal-ish. But not surprising in the least. 

[All_Pro_Bills]

16 minutes ago, JDHillFan said:

Is it the case that you support green initiatives only if you are to profit or at least break even from them? What about the greater good? That doesn’t sound very progressive. Kind of limousine liberal-ish. But not surprising in the least. 

I'll support any "green" initiative that might polute less but it also needs to be cheaper, more reliable, and more efficient than fossil fuels.  

Over the course of history those three criteria have correlated to progress in the human condition.  

[Joe Ferguson forever]

32 minutes ago, JDHillFan said:

Is it the case that you support green initiatives only if you are to profit or at least break even from them? What about the greater good? That doesn’t sound very progressive. Kind of limousine liberal-ish. But not surprising in the least. 

i fully agree with all pro except that I would accept "near" equal in cost and reliability.  Do you think All pro is a limousine lib?

1 hour ago, SoCal Deek said:

Hawk…I’m an architect

I've never got to ask a 2nd architecture opinion.  We had a modern home (glass, steel, wood beams nano wall, pool - you get the picture) designed and told the architect the budget.  He designed an amazing thing that was quoted at twice the budget by 2 contractors (we were also going to do geothermal).  Is there an ethics code in architecture that should kick in?  of course we didn't build it and then bought and fully renovated a cape cod (believe it or not it is very modern inside and mountain lodge like outside like). so we ate the architect fees.

Edited August 5, 2023 by redtail hawk

[JDHillFan]

7 minutes ago, redtail hawk said:

i fully agree with all pro except that I would accept "near" equal in cost and reliability.  Do you think All pro is a limousine lib?

I've never got to ask a 2nd architecture opinion.  We had a modern home (glass, steel, wood beams nano wall, pool - you get the picture) designed and told the architect the budget.  He designed an amazing thing that was quoted at twice the budget by 2 contractors (we were also going to do geothermal).  Is there an ethics code in architecture that should kick in?  of course we didn't build it an fully renovated a cape cod (believe it or not it is very modern inside) so we ate the architect fees.

Sounds really nice! Solar not paying off in your life expectancy seems an interesting line to draw for someone of your means. Especially when it would be for the greater good. Stupid and selfish?

[Joe Ferguson forever]

2 minutes ago, JDHillFan said:

Sounds really nice! Solar not paying off in your life expectancy seems an interesting line to draw for someone of your means. Especially when it would be for the greater good. Stupid and selfish?

I pay plenty of taxes.  If they legislate green I'll gladly follow.  Until then, I can rationalize my not jumping in as incentivizing energy scientists to do better.  I'm not sure the oil companies are amped up enough for it.

[JDHillFan]

1 minute ago, redtail hawk said:

I pay plenty of taxes.  If they legislate green I'll gladly follow.  Until then, I can rationalize my not jumping in as incentivizing energy scientists to do better.  I'm not sure the oil companies are amped up enough for it.

You are adept at rationalizing I’ll give you that much. Whether it be green tech or using racial slurs you have it covered. 

[Joe Ferguson forever]

54 minutes ago, JDHillFan said:

So long as you promise not to pretend you are an expert at reading climate charts while everyone else is too dense to comprehend them. We’ve seen where that leads. 

It occurs to me that I admitted my mistake immediately on realization.  I could have argued it effectively knowing I was wrong.  Sound familiar?

[JDHillFan]

2 minutes ago, redtail hawk said:

It occurs to me that I admitted my mistake immediately on realization.  I could have argued it effectively knowing I was wrong.  Sound familiar?

No

[SoCal Deek]

40 minutes ago, redtail hawk said:

i fully agree with all pro except that I would accept "near" equal in cost and reliability.  Do you think All pro is a limousine lib?

I've never got to ask a 2nd architecture opinion.  We had a modern home (glass, steel, wood beams nano wall, pool - you get the picture) designed and told the architect the budget.  He designed an amazing thing that was quoted at twice the budget by 2 contractors (we were also going to do geothermal).  Is there an ethics code in architecture that should kick in?  of course we didn't build it and then bought and fully renovated a cape cod (believe it or not it is very modern inside and mountain lodge like outside like). so we ate the architect fees.

Your contract with the architect should have included a clause that they had to redesign the home at no cost to you should the home be quoted at 10% more than their initial estimate. That would have at least given you someplace to start. 

[Joe Ferguson forever]

11 minutes ago, SoCal Deek said:

Your contract with the architect should have included a clause that they had to redesign the home at no cost to you should the home be quoted at 10% more than their initial estimate. That would have at least given you someplace to start. 

Yeah, we picked the guy because he designed an amazing renovation for our church.  Very artistic and clever.  But I guess not practical.  I have a golf buddy who runs a building supply store in town.  He came to a meeting late in the process and said no way anyone can do this for your budget.  Should have insisted on the !10% thing but things worked out.  This place was way less to buy and renovate without an architect.  made a little on the land.  otherwise I'd still prob be working.  I honestly think the architect just thought "they'll just do it to have this amazing place".  I don't think that's ethical and he should have gotten to know me better before designing.

Edited August 5, 2023 by redtail hawk

[SoCal Deek]

9 minutes ago, redtail hawk said:

Yeah, we picked the guy because he designed an amazing renovation for our church.  Very artistic and clever.  But I guess not practical.  I have a golf buddy who runs a building supply store in town.  He came to a meeting late in the process and said no way anyone can do this for your budget.  Should have insisted on the !10% thing but things worked out.  This place was way less to buy and renovate without an architect.  made a little on the land.  otherwise I'd still prob be working.  I honestly think the architect just thought "they'll just do it to have this amazing place".  I don't think that's ethical and he should have gotten to know me better before designing.

I never worked that way, but I designed much, much larger projects with and for experienced clients. I’m sorry you had a bad experience, but happy you got a home you appreciate. If you haven’t already you should watch the Netflix series on Extraordinary Homes. It features some high end design by serious architects. 

[Joe Ferguson forever]

8 minutes ago, SoCal Deek said:

I never worked that way, but I designed much, much larger projects with and for experienced clients. I’m sorry you had a bad experience, but happy you got a home you appreciate. If you haven’t already you should watch the Netflix series on Extraordinary Homes. It features some high end design by serious architects. 

Yeah, probably skip that one.  My wife is still pissed we didn't build it.