One article to sum up Biden

[TheGunner]

52 years. Liberals, please explain how Trump F’ed it up so Biden would tank the market 16 months after Biden took office

America’s S&P 500 suffers its worst April in 52 years

A historically bad month deepens the index’s losses for the year

www.economist.com

 

[charlespig]

Geez, how stupid it is to talk about one day, one week, or one month return when evaluate a president's impact on the economy? If there is a big bounce next month, and SPX has the best return in June in 52 years, do we all of a sudden crown Biden as an economic genius who revive the economy and he makes America great again???? If not, then you should know your metric is just nonsense.

And just FYI, when measuring returns from a year-over-year perspective, which eliminates a lot of noise from the month-to-month fluctuation, in 2021 SPX has its best months in 52 years in March, April, and October. So if you just wanna b!tch, you might wanna pick another topic.

I just don't get it. Aren't you guys tired of b!tching, or b!tching actually energizes you? And if you feel like your life is incomplete without b!tching, then at least find something more reasonable to b!tch, not this one-month stock return B.S. Life is too short to be wasted on b!tching. Do something that actually makes you happier. Go for a walk. Give a hug to your loved ones. Read a good book. Give a silent prayer. Do whatever that makes you happier instead of constantly looking for things to b!tch, shall we?

 

[BoilerBF]

Geez, how stupid it is to talk about one day, one week, or one month return when evaluate a president's impact on the economy? If there is a big bounce next month, and SPX has the best return in May in 52 years, do we all of a sudden crown Biden as an economic genius who revive the economy and he makes America great again???? If not, then you should know your metric is just nonsense.

And just FYI, when measuring returns from a year-over-year perspective, which eliminates a lot of noise from the month-to-month fluctuation, in 2021 SPX has its best months in 52 years in March, April, and October. So if you just wanna b!tch, you might wanna pick another topic.

I just don't get it. Aren't you guys tired of b!tching, or b!tching actually energizes you? And if you feel like your life is incomplete without b!tching, then at least find something more reasonable to b!tch, not this one-month stock return B.S. Life is too short to be wasted on b!tching. Do something that actually makes you happier. Go for a walk. Give a hug to your loved ones. Read a good book. Give a silent prayer. Do whatever that makes you happier instead of looking for things to b!tch, shall we?

1) When you are warned about inflation by a very prominent economist from the Clinton and Obama administration nonetheless. And you just ignore the issue, you deserve to be criticized.

2) When you have no plan for the border you deserve to be criticized.

3) When Democrat DA's go soft on criminals, the party deserves to be criticized.

4) When your first day in office you go after oil, you deserved to be criticized

5) When you are more concerned about being woke, than confronting the issues, you deserve to be criticized.

6) When you have the Afghanistan and Iran debacles you deserve to be criticized.

7) When you let the teachers union, write the CDC school policy, you deserve to be criticized

Surprising you don't get it. When Inflation is rising faster than wages a lot of people get hurt. Far from just this board criticizing Biden. He is underwater in polling on almost every policy. Take Republicans out of the equation, Independents are very angry.

 

[TheGunner]

Geez, how stupid it is to talk about one day, one week, or one month return when evaluate a president's impact on the economy? If there is a big bounce next month, and SPX has the best return in May in 52 years, do we all of a sudden crown Biden as an economic genius who revive the economy and he makes America great again???? If not, then you should know your metric is just nonsense.

And just FYI, when measuring returns from a year-over-year perspective, which eliminates a lot of noise from the month-to-month fluctuation, in 2021 SPX has its best months in 52 years in March, April, and October. So if you just wanna b!tch, you might wanna pick another topic.

I just don't get it. Aren't you guys tired of b!tching, or b!tching actually energizes you? And if you feel like your life is incomplete without b!tching, then at least find something more reasonable to b!tch, not this one-month stock return B.S. Life is too short to be wasted on b!tching. Do something that actually makes you happier. Go for a walk. Give a hug to your loved ones. Read a good book. Give a silent prayer. Do whatever that makes you happier instead of looking for things to b!tch, shall we?

😢.

I guess there is the alternative….Hallelujah Joe Biden!

Or another alternative is to say that Biden is up roughly 10% over his first 16 months or about 7% behind Trump on an annualized basis…and the trend is NOT Joe’s friend. (Trumps annualized rate of return was 13.7%, so Joe outperformed in his first year, at 25%, but the market drop has him behind Trump and the outlook looks bleak for 2022).

 

[charlespig]

1) When you are warned about inflation by a very prominent economist from the Clinton and Obama administration nonetheless. And you just ignore the issue, you deserve to be criticized.

2) When you have no plan for the border you deserve to be criticized.

3) When Democrat DA's go soft on criminals, the party deserves to be criticized.

4) When your first day in office you go after oil, you deserved to be criticized

5) When you are more concerned about being woke, than confronting the issues, you deserve to be criticized.

6) When you have the Afghanistan and Iran debacles you deserve to be criticized.

7) When you let the teachers union, write the CDC school policy, you deserve to be criticized

Surprising you don't get it. When Inflation is rising faster than wages a lot of people get hurt. Far from just this board criticizing Biden. He is underwater in polling on almost every policy. Take Republicans out of the equation, Independents are very angry.

I always think it's perfectly fine to criticize, but at least be fair. That's what I always say when someone criticizes CMP. He is not above criticism (no one is), but at least the criticism has to be fair.

So let's start with inflation since it's first on your list. I think it is a huge problem, and the root of it is that governments have been printing money like crazy. But notice it is not a Biden problem. It has been an ongoing problem since Nixon ended Bretton Woods. And now we are all suffering from the consequences of years of money-printing. Look at all the EU countries, as a whole their inflation is 7.8% (France 5.1%, Germany 7.6%, Spain 9.8%, Netherlands 11.7%). US is 8.5%. Japan's inflation also jump to a 3.5-year high. Turkey is even at a crazy 70% year-over-year! Seventy f***ing percent, not a typo. It's a perfect storm of the Ukraine War (as Russia is a huge energy-producing country while Ukraine is a huge food-producing country, so it's a double whammy), plus the lockdown in China (which has taken over the manufacturing jobs for decades now). It is a huge problem everywhere.

Europe inflation rate by country March 2024 | Statista

The average inflation rate in the EU was 8.3 percent in March 2023, with Hungary having the highest inflation and Luxembourg the lowest.

www.statista.com

So if we wanna complain about inflation, let's get to the root of it. Let's identify the issue, and let's come up with proposals for a solution. Let's have a conversation on how to reduce waste in the government, how to reduce entitlement programs, while at the same time address the issue that millions of people are living in poverty and not having enough to eat (I just spent yesterday volunteered at a soup kitchen feeding the homeless. I am seeing the issue first hand.). This will be a lot more productive and rewarding than just b!tching about Biden every day. At the end of the day, do you just wanna b!tch, or do you actually want the help the country?

 

[SDBoiler1]

Geez, how stupid it is to talk about one day, one week, or one month return when evaluate a president's impact on the economy? If there is a big bounce next month, and SPX has the best return in May in 52 years, do we all of a sudden crown Biden as an economic genius who revive the economy and he makes America great again???? If not, then you should know your metric is just nonsense.

And just FYI, when measuring returns from a year-over-year perspective, which eliminates a lot of noise from the month-to-month fluctuation, in 2021 SPX has its best months in 52 years in March, April, and October. So if you just wanna b!tch, you might wanna pick another topic.

I just don't get it. Aren't you guys tired of b!tching, or b!tching actually energizes you? And if you feel like your life is incomplete without b!tching, then at least find something more reasonable to b!tch, not this one-month stock return B.S. Life is too short to be wasted on b!tching. Do something that actually makes you happier. Go for a walk. Give a hug to your loved ones. Read a good book. Give a silent prayer. Do whatever that makes you happier instead of looking for things to b!tch, shall we?

Weren’t you on here bitching routinely about Trump in the months prior to the 2020 election? 😗🙄

 

[BSIT]

52 years. Liberals, please explain how Trump F’ed it up so Biden would tank the market 16 months after Biden took office

America’s S&P 500 suffers its worst April in 52 years

A historically bad month deepens the index’s losses for the year

www.economist.com

Wonder how many Biden voters are happy with their vote? Stand up and be counted

 

[TheGunner]

I always think it's perfectly fine to criticize, but at least be fair. That's what I always say when someone criticizes CMP. He is not above criticism (no one is), but at least the criticism has to be fair.

So let's start with inflation since it's first on your list. I think it is a huge problem, and the root of it is that governments have been printing money like crazy. But notice it is not a Biden problem. It has been an ongoing problem since Nixon ended Bretton Woods. And now we are all suffering from the consequences of years of money-printing. Look at all the EU countries, as a whole their inflation is 7.8% (France 5.1%, Germany 7.6%, Spain 9.8%, Netherlands 11.7%). US is 8.5%. Japan's inflation also jump to a 3.5-year high. Turkey is even at a crazy 70% year-over-year! Seventy f***ing percent, not a typo. It's a perfect storm of the Ukraine War (as Russia is a huge energy-producing country while Ukraine is a huge food-producing country, so it's a double whammy), plus the lockdown in China (which has taken over the manufacturing jobs for decades now). It is a huge problem everywhere.

Europe inflation rate by country March 2024 | Statista

The average inflation rate in the EU was 8.3 percent in March 2023, with Hungary having the highest inflation and Luxembourg the lowest.

www.statista.com

So if we wanna complain about inflation, let's get to the root of it. Let's identify the issue, and let's come up with proposals for a solution. Let's have a conversation on how to reduce waste in the government, how to reduce entitlement programs, while at the same time address the issue that millions of people are living in poverty and not having enough to eat (I just spent yesterday volunteered at a soup kitchen feeding the homeless. I am seeing the issue first hand.). This will be a lot more productive and rewarding than just b!tching about Biden every day. At the end of the day, do you just wanna b!tch, or do you actually want the help the country?

I know how to solve inflation…student loan buyout. (TIC, that’s just printing more money, but Democrats gotta Democrat)

 

[BoilerBF]

I always think it's perfectly fine to criticize, but at least be fair. That's what I always say when someone criticizes CMP. He is not above criticism (no one is), but at least the criticism has to be fair.

So let's start with inflation since it's first on your list. I think it is a huge problem, and the root of it is that governments have been printing money like crazy. But notice it is not a Biden problem. It has been an ongoing problem since Nixon ended Bretton Woods. And now we are all suffering from the consequences of years of money-printing. Look at all the EU countries, as a whole their inflation is 7.8% (France 5.1%, Germany 7.6%, Spain 9.8%, Netherlands 11.7%). US is 8.5%. Japan's inflation also jump to a 3.5-year high. Turkey is even at a crazy 70% year-over-year! Seventy f***ing percent, not a typo. It's a perfect storm of the Ukraine War (as Russia is a huge energy-producing country while Ukraine is a huge food-producing country, so it's a double whammy), plus the lockdown in China (which has taken over the manufacturing jobs for decades now). It is a huge problem everywhere.

Europe inflation rate by country March 2024 | Statista

The average inflation rate in the EU was 8.3 percent in March 2023, with Hungary having the highest inflation and Luxembourg the lowest.

www.statista.com

So if we wanna complain about inflation, let's get to the root of it. Let's identify the issue, and let's come up with proposals for a solution. Let's have a conversation on how to reduce waste in the government, how to reduce entitlement programs, while at the same time address the issue that millions of people are living in poverty and not having enough to eat (I just spent yesterday volunteered at a soup kitchen feeding the homeless. I am seeing the issue first hand.). This will be a lot more productive and rewarding than just b!tching about Biden every day. At the end of the day, do you just wanna b!tch, or do you actually want the help the country?

When Biden rammed through the stimulus package, Larry Summers in real time warned Biden that it was the most irresponsible fiscal policy in 40 years. Biden admin mocked Summers and told us inflation was just "transitory". Then on top of that if it weren't for Manchin, Biden would've spent trillions more on Build Back "Better". Now he is trying to pay back student loans by executive order. First day in office he went after the oil industry. Now he is begging dictators under the world to produce more oil.

Just clueless on the economy. Not just my opinion, overwhelming majority thinks he is clueless on the economy. The reason he was going to spend trillions on Build Back "Better" was the conclusion he came to during financial crisis back in 2009, was the government should've spent a lot more. The two situations couldn't be more different, but Biden was trying to avoid making that mistake. Just a guy that never should have been president. From a policy perspective worst president in most of our lifetimes.

 

[COBoiler1]

Wonder how many Biden voters are happy with their vote? Stand up and be counted

100% happy I didn't vote for Trump. 100%. Things would be NO different if Trump were in office again, except more people would be dead because of COVID and Trump would be given more freedom to lie and deceive. A world wide pandemic happened. And a world wide supply shortage happened. And it's still going on. ALL of these things happened, regardless of who was in office. Trump had no plan of any kind for anything other than "how to I get white conservatives to praise me". You all are classic midwesterner white people. I am staunchly independent, fiscally conservative and socially/environmentally liberal. Most intelligent independents can see that the vast majority of what is going in the world is NOT the responsibility of one man, nor can he/she solve it, especially with a dysfunctional Congress... utterly dysfunctional. NO ONE wants to work together. You all just love to hate and blame. Blame the blacks, the Hispanics, the "libs", the gays, the transgenders, etc. etc. etc. Now you get to blame Biden for the way the world has gone since the pandemic started. Its the classic Republican way, while you vote in filth like Gaetz and Taylor Greene and Boebert, and worst of all Trump. So grateful I no longer vote Republican, and that I left Indiana.

 

[COBoiler1]

And I find it truly amazing that you all continue to post political drivel on a Purdue sports site, looking for validation or something. Get a life. Go do something productive and meaningful.

 

[CNNPlusSubscriber]

And I find it truly amazing that you all continue to post political drivel on a Purdue sports site, looking for validation or something. Get a life. Go do something productive and meaningful.

You just posted political drivel on a Purdue sports site. Do you have a life and why are you telling others to get one if you’re doing the exact thing that you’re telling them not to do? Go do something productive and meaningful.

 

[CNNPlusSubscriber]

100% happy I didn't vote for Trump. 100%. Things would be NO different if Trump were in office again, except more people would be dead because of COVID and Trump would be given more freedom to lie and deceive. A world wide pandemic happened. And a world wide supply shortage happened. And it's still going on. ALL of these things happened, regardless of who was in office. Trump had no plan of any kind for anything other than "how to I get white conservatives to praise me". You all are classic midwesterner white people. I am staunchly independent, fiscally conservative and socially/environmentally liberal. Most intelligent independents can see that the vast majority of what is going in the world is NOT the responsibility of one man, nor can he/she solve it, especially with a dysfunctional Congress... utterly dysfunctional. NO ONE wants to work together. You all just love to hate and blame. Blame the blacks, the Hispanics, the "libs", the gays, the transgenders, etc. etc. etc. Now you get to blame Biden for the way the world has gone since the pandemic started. Its the classic Republican way, while you vote in filth like Gaetz and Taylor Greene and Boebert, and worst of all Trump. So grateful I no longer vote Republican, and that I left Indiana.

We’re all sure Indiana misses you and would you say that you’re 100% or 100% happy you didn’t vote for Trump? And I find it truly amazing that you continue to post political drivel on a Purdue sports site, looking for validation or something. Get a life. Go do something meaningful and productive.

 

[BoilerBF]

100% happy I didn't vote for Trump. 100%. Things would be NO different if Trump were in office again, except more people would be dead because of COVID and Trump would be given more freedom to lie and deceive. A world wide pandemic happened. And a world wide supply shortage happened. And it's still going on. ALL of these things happened, regardless of who was in office. Trump had no plan of any kind for anything other than "how to I get white conservatives to praise me". You all are classic midwesterner white people. I am staunchly independent, fiscally conservative and socially/environmentally liberal. Most intelligent independents can see that the vast majority of what is going in the world is NOT the responsibility of one man, nor can he/she solve it, especially with a dysfunctional Congress... utterly dysfunctional. NO ONE wants to work together. You all just love to hate and blame. Blame the blacks, the Hispanics, the "libs", the gays, the transgenders, etc. etc. etc. Now you get to blame Biden for the way the world has gone since the pandemic started. Its the classic Republican way, while you vote in filth like Gaetz and Taylor Greene and Boebert, and worst of all Trump. So grateful I no longer vote Republican, and that I left Indiana.

So to summarize:

1) Trump - Covid deaths were his fault
2) Biden, not only were none of the Covid deaths Biden's fault, Biden actually saved lives.
3) Nothing is Bidens fault and most Independents understand that.

Most Independents don't agree with your analysis on Biden. Mid to upper 30's approval rating among independents in polls I have seen. You can click on the map in link below to educate yourself on how far Biden is under water in the Battle ground states (all voters).

Biden Approval Rating is Down in 40 States

More voters now disapprove than approve of Biden’s performance in 40 states, following double-digit declines in his net approval rating.

morningconsult.com

 

[BSIT]

So to summarize:

1) Trump - Covid deaths were his fault
2) Biden, not only were none of the Covid deaths Biden's fault, Biden actually saved lives.
3) Nothing is Bidens fault and most Independents understand that.

Most Independents don't agree with your analysis on Biden. Mid to upper 30's approval rating among independents in polls I have seen. You can click on the map in link below to educate yourself on how far Biden is under water in the Battle ground states (all voters).

Biden Approval Rating is Down in 40 States

More voters now disapprove than approve of Biden’s performance in 40 states, following double-digit declines in his net approval rating.

morningconsult.com

Didn’t the vaccines get expedited under Trump? It would be delusional to think Biden and his identity check list cabinet would have done better bringing vaccines to market

 

[charlespig]

Weren’t you on here bitching routinely about Trump in the months prior to the 2020 election? 😗🙄

Huh? Are you mistakening me as someone else?

 

[charlespig]

Wonder how many Biden voters are happy with their vote? Stand up and be counted

Probably more than you think. You are asking this on a predominantly conservative board. That's a biased sample.

I do know plenty don't have Biden as their first choice, but they are still happy because he isn't Trump. But then again, I also have a biased sample.

 

[charlespig]

When Biden rammed through the stimulus package, Larry Summers in real time warned Biden that it was the most irresponsible fiscal policy in 40 years. Biden admin mocked Summers and told us inflation was just "transitory". Then on top of that if it weren't for Manchin, Biden would've spent trillions more on Build Back "Better". Now he is trying to pay back student loans by executive order. First day in office he went after the oil industry. Now he is begging dictators under the world to produce more oil.

Just clueless on the economy. Not just my opinion, overwhelming majority thinks he is clueless on the economy. The reason he was going to spend trillions on Build Back "Better" was the conclusion he came to during financial crisis back in 2009, was the government should've spent a lot more. The two situations couldn't be more different, but Biden was trying to avoid making that mistake. Just a guy that never should have been president. From a policy perspective worst president in most of our lifetimes.

There are several things to unpack about Summers and inflation. Appearing on Bloomberg’s “Wall Street Week” show on March 19, 2021, Summers blasted the stimulus package and said,

“I think there is about a one-third chance that inflation will significantly accelerate over the next several years, and we’ll be in a stagflationary situation like the one that materialized between 1966 and 1969.” Summers said that there was also a one-third chance “that we won’t see inflation, but the reason we won’t see it is that the Fed hits the brakes hard, markets get very unstable, the economy skids downwards close to recession.” Finally, he added, there was “a one-third chance that the Fed and the Treasury will get what they are hoping for, and we’ll get rapid growth, which will moderate in a non-inflationary way.”

So what he actually said is 1/3 chance it's stagflation, 1/3 chance the Fed and Treasury got it right and we have rapid growth and non-inflationary, and 1/3 chance that we don't see inflation but economy skids close to recession. In other words, despite what the headline said, according to Summers, he actually thought 2/3 chance WE WILL SEE NO OR AT WORST MODERATE INFLATION.

Now we do have high inflation, but that was not really the result of the stimulus package, as Summers predicted. If it is, then how do you explain record-high inflation worldwide? I think it is clear that we've hit a perfect storm with high energy price (thanks Russia), high food price (sorry Ukraine), and plenty of shortages (thanks Covid, esp. China, for its nonsense Covid-0 policy).

As far as the student loan, you will be preaching to choir. I am against cancelling it. However, the Biden admin hasn't cancelled any debt yet, and we've already seen high inflation, so that was is not the reason. It's probably easier to focus on just one issue (inflation) than to sidetrack with other unrelated issues.

 

[BoilerBF]

There are several things to unpack about Summers and inflation. Appearing on Bloomberg’s “Wall Street Week” show on March 19, 2021, Summers blasted the stimulus package and said,

“I think there is about a one-third chance that inflation will significantly accelerate over the next several years, and we’ll be in a stagflationary situation like the one that materialized between 1966 and 1969.” Summers said that there was also a one-third chance “that we won’t see inflation, but the reason we won’t see it is that the Fed hits the brakes hard, markets get very unstable, the economy skids downwards close to recession.” Finally, he added, there was “a one-third chance that the Fed and the Treasury will get what they are hoping for, and we’ll get rapid growth, which will moderate in a non-inflationary way.”

So what he actually said is 1/3 chance it's stagflation, 1/3 chance the Fed and Treasury got it right and we have rapid growth and non-inflationary, and 1/3 chance that we don't see inflation but economy skids close to recession. In other words, despite what the headline said, according to Summers, he actually thought 2/3 chance WE WILL SEE NO OR AT WORST MODERATE INFLATION.

Lol. You totally misinterpreted Summers risk assessment. Not sure if you did it on purpose, and thought nobody would catch it, or if you simply didn't understand

1) 1/3 chance rapid inflation
2) 1/3 chance the only reason we don't see rapid inflation, is we have to raise interest rates rapidly sending the economy into recession
3) 1/3 chance Biden administration nails it, and Summers is wrong

So to recap, 2/3 chance of this ending badly. Unfortunately Biden admin f'd it up so bad we may see both rapid inflation (already have), and a recession (tbd).

This isn't after the fact stuff, Summers nailed it in real time.

Larry Summers blasts $1.9 T stimulus as ‘least responsible’ economic policy in 40 years

Larry Summers, a top economic adviser to former President Obama, blasted the $1.9 trillion coronavirus stimulus package signed by President Biden earlier this month as the “least responsible” econo…

thehill.com

There was no need for the stimulus package. Unemployment compensation was still being plussed up beyond what a significant portion of employees made prior to pandemic. I know people with a net worth of $5M+, that got the stimulus check in retirement.

 

[TheGunner]

…….. I am staunchly independent, fiscally conservative and socially/environmentally liberal. Most intelligent independents …... So grateful I no longer vote Republican, and that I left Indiana.

So you no longer vote Republican, but are staunchly an independent. Got it. So in 99% of the elections, you pull D, except the occasional election with an Independent candidate.

sounds like an independent voter to me.

 

[TheGunner]

Didn’t the vaccines get expedited under Trump? It would be delusional to think Biden and his identity check list cabinet would have done better bringing vaccines to market

Remember, Biden took credit for defeating COVID in July of 2021, so every death after that “isn’t his fault.”

(imagine where this country would be if Trump hadn’t acted quickly and got the vaccine production started…but all deaths are his fault, per Democrats and “independents” who call themselves that after walking away from the Democrat party train wreck).

Biden had the solution on the 2020 campaign trail…a cloth mask…and questioned whether the vaccine would work. Imagine him being President during a pandemic…LOL…(and none of the deaths are “his fault” because he took over in a pandemic.)

 

[TheGunner]

So if we wanna complain about inflation, let's get to the root of it. Let's identify the issue, and let's come up with proposals for a solution. Let's have a conversation on how to reduce waste in the government, how to reduce entitlement programs, while at the same time address the issue that millions of people are living in poverty and not having enough to eat (I just spent yesterday volunteered at a soup kitchen feeding the homeless. I am seeing the issue first hand.). This will be a lot more productive and rewarding than just b!tching about Biden every day. At the end of the day, do you just wanna b!tch, or do you actually want the help the country?

I would love to get your thoughts on Student loan forgiveness.

 

[BoilerMadness]

Geez, how stupid it is to talk about one day, one week, or one month return when evaluate a president's impact on the economy? If there is a big bounce next month, and SPX has the best return in June in 52 years, do we all of a sudden crown Biden as an economic genius who revive the economy and he makes America great again???? If not, then you should know your metric is just nonsense.

And just FYI, when measuring returns from a year-over-year perspective, which eliminates a lot of noise from the month-to-month fluctuation, in 2021 SPX has its best months in 52 years in March, April, and October. So if you just wanna b!tch, you might wanna pick another topic.

I just don't get it. Aren't you guys tired of b!tching, or b!tching actually energizes you? And if you feel like your life is incomplete without b!tching, then at least find something more reasonable to b!tch, not this one-month stock return B.S. Life is too short to be wasted on b!tching. Do something that actually makes you happier. Go for a walk. Give a hug to your loved ones. Read a good book. Give a silent prayer. Do whatever that makes you happier instead of constantly looking for things to b!tch, shall we?

Based on your comments, it appears that you believe the economy is just roaring now. He's been in office for 15 months and things are getting progressively worse. The market got a bit of a bounce coming out of Covid, but Biden has done NOTHING to make the economy better.
-- Ignore the 8.5% and rising inflation.
-- Ignore the fact that Biden still wants to push more spending programs through Congress and wants to forgive student loans, which will pour gas on inflation.
-- Ignore the supply chain problems.
-- Ignore the economic impact of over 2 million illegals crossing the Southern Border.
-- Ignore that fact that Biden's policies have decreased our energy production, since he's come into office and he's drained about 1/3 of our strategic oil reserve.
-- Ignore the fact that Biden has added a lot of new regulations, which will financially impact businesses of all sizes.

Biden knows squat about the economy. He's been a politician for his whole life and if you look at the programs he's pushed through, they're all giveaway plans that he hopes will distract people from the pathetic way he's running the country and will allow him to buy their votes.

If you were able to open your eyes and actually recognize how poorly Biden is running the country, perhaps you'd bitch, too. When you add the most incompetent President to the worst Cabinet in the history of our country, you'd have to be totally delusional to think you'd get positive results.

 

[BoilerMadness]

Remember, Biden took credit for defeating COVID in July of 2021, so every death after that “isn’t his fault.”

(imagine where this country would be if Trump hadn’t acted quickly and got the vaccine production started…but all deaths are his fault, per Democrats and “independents” who call themselves that after walking away from the Democrat party train wreck).

Biden had the solution on the 2020 campaign trail…a cloth mask…and questioned whether the vaccine would work. Imagine him being President during a pandemic…LOL…(and none of the deaths are “his fault” because he took over in a pandemic.)

Biden has a history of nothing being his fault.
Damn Putin and his Price Hike.
Biden got us out of Afghanistan flawlessly.

 

[charlespig]

I would love to get your thoughts on Student loan forgiveness.

The short version: I am against it.

 

[charlespig]

Lol. You totally misinterpreted Summers risk assessment. Not sure if you did it on purpose, and thought nobody would catch it, or if you simply didn't understand

1) 1/3 chance rapid inflation
2) 1/3 chance the only reason we don't see rapid inflation, is we have to raise interest rates rapidly sending the economy into recession
3) 1/3 chance Biden administration nails it, and Summers is wrong

So to recap, 2/3 chance of this ending badly. Unfortunately Biden admin f'd it up so bad we may see both rapid inflation (already have), and a recession (tbd).

I didn't misinterpret. I just go from the angle of INFLATION, which was the topic we were discussing. From an INFLATION standpoint, 1/3 chance it will be bad, 1/3 chance it will be mild, and 1/3 chance it will be a non-issue.

You go from an economy viewpoint, which is fair, and 1/3 chance there will be rapid inflation, 1/3 chance we may skid towards recession, and 1/3 chance our economy will keep going great.

This isn't after the fact stuff, Summers nailed it in real time.

Larry Summers blasts $1.9 T stimulus as ‘least responsible’ economic policy in 40 years

Larry Summers, a top economic adviser to former President Obama, blasted the $1.9 trillion coronavirus stimulus package signed by President Biden earlier this month as the “least responsible” econo…

thehill.com

He didn't nail it. If you predict that Purdue will beat PSU because AOC will be superhuman and throw for 600 yards, and Purdue did beat PSU but it is because King and James combine for 300 yards rushing, did you "nail it"? The inflation we are seeing in the US is on par with what EU sees as a whole. Is it because the EU having a stimulus package?

There was no need for the stimulus package. Unemployment compensation was still being plussed up beyond what a significant portion of employees made prior to pandemic. I know people with a net worth of $5M+, that got the stimulus check in retirement.

The Infrastructure bill that was passed was a bipartisan bill. I am generally not a big fan of big government spending, but I am not as mad. Our infrastructures are indeed falling behind. A lot of our bridges are in very poor condition. Our subway systems in major cities are ancient compared to the newer ones in Asian countries. It pains me to say it but when I was in Shanghai and Beijing a few years ago, their system is soooooooooo much better than what I see in NY or SF. Not to mention the airports.

If you want to get mad at wasteful government spending, I'll start with the biggest fraud of the generation where HUNDREDS OF BILLIONS OF TAXPAYER DOLLARS went to fraud and likely cannot be recovered. This is big time f*ed up due to incompetency!

Theft from the Covid relief plan known as PPP was even worse than we thought

The official in charge of Covid relief tells NBC News' Lester Holt that programs like PPP were structured in ways that were "an invitation" to fraudsters.

www.nbcnews.com

 

[charlespig]

Based on your comments, it appears that you believe the economy is just roaring now.

Huh?!?!? How did you get to that conclusion?!? Just because I said it was stupid to use one-month stock return as a metric to evaluate the economy? It is the same dumb sh!t as people declaring the economy is doing great because US added 428k jobs and average hourly earnings was up 5.5% from a year ago in April. It's the same dumb sh!t knee-jerk reaction when Ivey has a bad game and some guys trashing him as the worst player in Purdue history. And then he hits a game-winner the next game and guys on the other extreme is crowning him the savior of Purdue basketball.

And then you go on a diatribe, probably feeling very good about yourself for your self-righteousness, as you brutally attack and defeat the strawman that you set up.

I guess, congratulations?

 

[BoilerBF]

I didn't misinterpret. I just go from the angle of INFLATION, which was the topic we were discussing. From an INFLATION standpoint, 1/3 chance it will be bad, 1/3 chance it will be mild, and 1/3 chance it will be a non-issue.

You go from an economy viewpoint, which is fair, and 1/3 chance there will be rapid inflation, 1/3 chance we may skid towards recession, and 1/3 chance our economy will keep going great.

This really isn't that difficult Summers prediction on the 1.9M Stimulus package being the most irresponsible fiscal policy in 40 years.

1) 1/3 rapid inflation
2) 1/3 rapid inflation could only be stopped by rapid interest rate increases, that would send the economy into recession.
3) 1/3 Biden administration nails it......oops.

No idea why you are talking about infrastructure, unless you didn't realize that wasn't included in 1.9 Trillion Stimulus package. That was a separate bill. That 1.9M Stimulus package was as Summers described the least responsible fiscal policy in 40 years.

US inflation: 8.5%
France inflation: 5.1%

Well done Biden administration. Standing ovation for an incredible job by Biden administration.

 

[charlespig]

I am staunchly independent, fiscally conservative and socially/environmentally liberal. Most intelligent independents can see that the vast majority of what is going in the world is NOT the responsibility of one man, nor can he/she solve it, especially with a dysfunctional Congress... utterly dysfunctional. NO ONE wants to work together. You all just love to hate and blame.

Very much agree.

But I'll add this. While I think all the issues in the world (Putin going nuts and attack Ukraine; Covid-induced supply chain problem) is not the responsibility of one man, nor can s/he solve it, at the end of the day, he is still be ultimately responsible for it, fair or not. That's just how it always works with leaders. CMP didn't shoot FTs for the team, but if we lose a game b/c our guys went 5-of-20 from the foul line, at the end of the day, the blame will still go to CMP.

I also agree that the Congress is dysfunctional. Instead of pointing fingers at the Republicans (or Dems), I'll try to look at the root that causes it. My take is that the root cause is gerrymandering. When you have districts redrawn in such a way that the real election is in the primaries (b/c if it's a Republican district, they can send a murderer and he'll still be elected, vice versa for Democrat, they can send someone with a corruption history and he'll still win the general election). So what happens is then the most extreme candidates will win, and they have no incentive to compromise on anything. They will just insist on doing it their way because if they don't, they will be replaced in the next election by a even more extreme candidate. And the end result is what we are seeing in Congress now - a gridlock where no one has much incentives to work across the aisle to find compromise and work together.

And the frustrating part is, very few people bother to actually look at the root cause of the issue. They just love demonizing the other side as the problem. They just come to these message boards and b!tch. Any time there is a negative news about the country, they jump at the opportunity and b!tch. It's just like the Ainters a few years ago. Every loss they b!tch. In the game threads, every time the other team went on a run, b!tch. Any time we miss a shot, b!tch. Just f***ing b!tch, b!tch and b!tch even more every time there is something negative until they are entirely consumed by b!tching and turn themselves into b!tches. For if you try hard enough, you can ALWAYS find something to b!tch.

Sorry about my rant here. I've done enough b!tching myself.

 

[charlespig]

No idea why you are talking about infrastructure, unless you didn't realize that wasn't included in 1.9 Trillion Stimulus package. That was a separate bill.

Ah sorry, for whatever reason I kept thinking about infrastructure bill. My mistake.

US inflation: 8.5%
France inflation: 5.1%

Nice job cherry-picking. I can play that game too: Germany is 7.6%, Belgium 9.3%, Spain 9.8%, Netherlands 11.7%, Turkey 70(!) %.

Can we stop the nonsense and just admit that globally, the entire world is seeing record high inflation? I know you love to blame it all on the Biden admin, but I just don't think it's fair. He deserves his fair share of blame, but he is far from the major reason.

 

[BoilerBF]

Ah sorry, for whatever reason I kept thinking about infrastructure bill. My mistake.



Nice job cherry-picking. I can play that game too: Germany is 7.6%, Belgium 9.3%, Spain 9.8%, Netherlands 11.7%, Turkey 70(!) %.

Can we stop the nonsense and just admit that globally, the entire world is seeing record high inflation? I know you love to blame it all on the Biden admin, but I just don't think it's fair. He deserves his fair share of blame, but he is far from the major reason.

Since when did we start comparing the U.S. economy to Turkey?

There is absolutely no reason for U.S. inflation to be higher than European Union. Other than the Biden 1.9T stimulus package being the least responsible fiscal policy in 40 years.

U.S. should outperform Europe.

New Biden admin slogan for 2022 Midterms & 2024 General Election: "We are still better than Turkey"!

 

[SDBoiler1]

Ah sorry, for whatever reason I kept thinking about infrastructure bill. My mistake.



Nice job cherry-picking. I can play that game too: Germany is 7.6%, Belgium 9.3%, Spain 9.8%, Netherlands 11.7%, Turkey 70(!) %.

Can we stop the nonsense and just admit that globally, the entire world is seeing record high inflation? I know you love to blame it all on the Biden admin, but I just don't think it's fair. He deserves his fair share of blame, but he is far from the major reason.

He and his administration are the major reason for the USA’s inflation. His policies are supposed to help “the common man” but they are really hurting “the common man” right now. And they don’t really care because they are going to promote their insane agenda regardless. Thankfully, a good portion of their agenda is being thwarted by Congress. If the Progressives get their way, this country is totally screwed.

 

[TheGunner]

Ah sorry, for whatever reason I kept thinking about infrastructure bill. My mistake.



Nice job cherry-picking. I can play that game too: Germany is 7.6%, Belgium 9.3%, Spain 9.8%, Netherlands 11.7%, Turkey 70(!) %.

Can we stop the nonsense and just admit that globally, the entire world is seeing record high inflation? I know you love to blame it all on the Biden admin, but I just don't think it's fair. He deserves his fair share of blame, but he is far from the major reason.

Notice the graph below, the US and EU inflation rates were tracking relatively closely until early 2021. Biden polices helped accelerate inflation in the U.S. compared to EU

EU Lagarde purposefully had lower stimulus in the EU due “massive” US stimulus. Someone was aware of Biden policies and potential effect.

“Massive” U.S. government stimulus is one reason why Europe is on a less aggressive monetary-policy course than the Federal Reserve, according to European Central Bank President Christine Lagarde.

U.S. Stimulus Is One Reason ECB on Different Path, Lagarde Says

“Massive” U.S. government stimulus is one reason why Europe is on a less aggressive monetary-policy course than the Federal Reserve, according to European Central Bank President Christine Lagarde.

www.bloomberg.com

Facts & figures​

Inflation in U.S. and Europe, 2016-2021​

With inflation reaching 7.0 percent in the U.S. and 5.1 percent in the eurozone, predictions that rising prices would be moderate and temporary have been left in the dust. © macpixxel for GIS

Is high inflation in the U.S. and Europe here for long? – GIS Reports

Returning to a low-inflation path is likely to take years, not months, writes Enrico Colombatto in his article.

www.gisreportsonline.com

 

[BoilerBF]

Notice the graph below, the US and EU inflation rates were tracking relatively closely until early 2021. Biden polices helped accelerate inflation in the U.S. compared to EU

EU Lagarde purposefully had lower stimulus in the EU due “massive” US stimulus. Someone was aware of Biden policies and potential effect.

“Massive” U.S. government stimulus is one reason why Europe is on a less aggressive monetary-policy course than the Federal Reserve, according to European Central Bank President Christine Lagarde.

U.S. Stimulus Is One Reason ECB on Different Path, Lagarde Says

“Massive” U.S. government stimulus is one reason why Europe is on a less aggressive monetary-policy course than the Federal Reserve, according to European Central Bank President Christine Lagarde.

www.bloomberg.com

Facts & figures​

Inflation in U.S. and Europe, 2016-2021​

With inflation reaching 7.0 percent in the U.S. and 5.1 percent in the eurozone, predictions that rising prices would be moderate and temporary have been left in the dust. © macpixxel for GIS

Is high inflation in the U.S. and Europe here for long? – GIS Reports

Returning to a low-inflation path is likely to take years, not months, writes Enrico Colombatto in his article.

www.gisreportsonline.com

One estimate I saw was the Biden 1.9T stimulus package added 2-4% to the U.S. inflation rate. On your knees begging dictators around the world to increase oil production, after attacking U.S. oil production on day one hasn't helped either.

There was going to be some level of inflation coming out of the pandemic. But with better leadership we could've done significantly better than the current rate of inflation. Biden administration laughed at those warning about inflation.

 

[TheGunner]

One estimate I saw was the Biden 1.9T stimulus package added 2-4% to the U.S. inflation rate. On your knees begging dictators around the world to increase oil production, after attacking U.S. oil production on day one hasn't helped either.

There was going to be some level of inflation coming out of the pandemic. But with better leadership we could've done significantly better than the current rate of inflation. Biden administration laughed at those warning about inflation.

My recollection is that Trump left Biden $1T for pandemic spending, then Biden asked for another $1.9T. Instead of waiting to see if additional funding was necessary, I believe the Biden Administration spent on stimulus because the money was readily available, all the while there were over 10MM job openings and people weren’t returning to work because stimulus benefits were plentiful. This drove wages higher (so Democrats like this impact) but the looming inflation wasn’t a concern because it was going to be “transitory”. Now everyone is finding out what happens when there is too much money in the financial system.

college debt pause/buyout continues to and will effectively inject more money into the system (because college debt holders can spend money on goods versus paying of debt).
This topic shows the Democrats lack of concern for inflation as they would rather hand out more free money to their voters versus dealing with inflation.

 

[SDBoiler1]

One estimate I saw was the Biden 1.9T stimulus package added 2-4% to the U.S. inflation rate. On your knees begging dictators around the world to increase oil production, after attacking U.S. oil production on day one hasn't helped either.

There was going to be some level of inflation coming out of the pandemic. But with better leadership we could've done significantly better than the current rate of inflation. Biden administration laughed at those warning about inflation.

Loved Biden’s and his cabinet’s comments about inflation being “transitory”. If this is transitory, I’d hate to see it when it’s not.

 

[TheGunner]

Loved Biden’s and his cabinet’s comments about inflation being “transitory”. If this is transitory, I’d hate to see it when it’s not.

Just shows how pathetically stupid Democrats are about inflation and economics in general. It’s like a college kid with a credit card with zero spending limit. Money is just burning a hole in the Democrats pocket…spend, spend, spend.

IMO, I honestly believe that todays Democrats in Congress are trying to cause Capitalism to completely collapse so we will be forced to become socialist Democrats or communists economically.

Biden tried to mimic FDR coming out of the Great Depression with BBB but didn’t realize there wasn’t 25% unemployment and a lack of jobs. (There has been 10-11MM surplus jobs for over a year, so the government does not need to create more jobs to compete with private industry).

 

[BuilderBob6]

One estimate I saw was the Biden 1.9T stimulus package added 2-4% to the U.S. inflation rate. On your knees begging dictators around the world to increase oil production, after attacking U.S. oil production on day one hasn't helped either.

There was going to be some level of inflation coming out of the pandemic. But with better leadership we could've done significantly better than the current rate of inflation. Biden administration laughed at those warning about inflation.

So tired of this oil production BS.......and your BS about on his knees begging dictators.

You people need to point out a Biden policy that actually cut oil production.......and then explain how the government is in control of oil production.

U.S. Sees Record Oil Production Next Year Moving Even Higher

U.S. oil production will grow even more than the government previously expected as a scorching price rally drives producers to boost drilling.

www.bloomberg.com

 

[BoilerBF]

So tired of this oil production BS.......and your BS about on his knees begging dictators.

You people need to point out a Biden policy that actually cut oil production.......and then explain how the government is in control of oil production.

U.S. Sees Record Oil Production Next Year Moving Even Higher

U.S. oil production will grow even more than the government previously expected as a scorching price rally drives producers to boost drilling.

www.bloomberg.com

Educate yourself:

Biden suspends oil and gas leasing in slew of executive actions on climate change

Biden's orders will halt oil and natural gas leases on public lands and waters in an effort to curb planet-warming carbon emissions.

www.cnbc.com

Opinion | Biden’s Bizarre Oil Diplomacy

He courts Venezuela and the Saudis, but not U.S. or Canadian producers.

www.wsj.com

 

[BuilderBob6]

Educate yourself:

Biden suspends oil and gas leasing in slew of executive actions on climate change

Biden's orders will halt oil and natural gas leases on public lands and waters in an effort to curb planet-warming carbon emissions.

www.cnbc.com

Opinion | Biden’s Bizarre Oil Diplomacy

He courts Venezuela and the Saudis, but not U.S. or Canadian producers.

www.wsj.com

Screw your "educate yourself". How do those leases affect current production? Did you look at the link? What entities decide how much oil is produced? The government? Do you know only 10% of oil production comes from public land? Obviously not

Educate your dumb ass and stop repeating lies you are told by the right wing media. Did I do that right?