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.