Biden Presidency

[drayer54]

It’s cyclical. Also, this is important. Everything bad happens to poor old Joe. He’s always surprised by unexpected things that happen to him. He can’t be responsible. He can’t be the cause, because that would require critical media coverage.

 

[Irish#1]

 

[drayer54]

Looks like it is working.

 

[GowerND11]

View attachment 3051692









Looks like it is working.

Inflation Rate - Countries - List

This page displays a table with actual values, consensus figures, forecasts, statistics and historical data charts for - Inflation Rate. This page provides values for Inflation Rate reported in several countries. The table has current values for Inflation Rate, previous releases, historical...

tradingeconomics.com

Not just a US issue...

 

[sixstar]

Inflation Rate - Countries - List

This page displays a table with actual values, consensus figures, forecasts, statistics and historical data charts for - Inflation Rate. This page provides values for Inflation Rate reported in several countries. The table has current values for Inflation Rate, previous releases, historical...

tradingeconomics.com

Not just a US issue...

Need to see inflation data over time to determine inflation rate deltas. discrete inflation points aren't very helpful without a few years of context.

 

[GowerND11]

Need to see inflation data over time to determine inflation rate deltas. discrete inflation points aren't very helpful without a few years of context.

You're not wrong. But lets be real. Inflation is happening globally. I'm not defending Biden, but calling a spade a spade.

 

[drayer54]

You're not wrong. But lets be real. Inflation is happening globally. I'm not defending Biden, but calling a spade a spade.

6T in spending, most on partisan lines and a key driver of inflation (energy) hindered by Biden’s policies. Pretty sure that’s a spade.
Same people lied for a year or more calling it transitory and denying the risk of inflation because it would hinder the spending spree. The Inflation Reduction Act was spitting on us.

 

[GowerND11]

6T in spending, most on partisan lines and a key driver of inflation (energy) hindered by Biden’s policies. Pretty sure that’s a spade.

So then why is it happening everywhere then?

And Trump didn't increase spending, deficits, and the debt? Cmon man. Let's be real, no one in office actually wants to do anything to curb spending. Trump claimed he would reign things in, then spent more than any president before him. Here I am saying, like I always do in these threads, that both sides suck and don't do anything for us. Biden's policies are not great across the board. He has a hand in inflation. But his presidency is not the reason it's happening only. Especially when there is an entire global inflation issue occurring.

 

[drayer54]

So then why is it happening everywhere then?

And Trump didn't increase spending, deficits, and the debt? Cmon man. Let's be real, no one in office actually wants to do anything to curb spending. Trump claimed he would reign things in, then spent more than any president before him. Here I am saying, like I always do in these threads, that both sides suck and don't do anything for us. Biden's policies are not great across the board. He has a hand in inflation. But his presidency is not the reason it's happening only. Especially when there is an entire global inflation issue occurring.

No, Trump didn't spit money in when it was obvious they would overheat the economy. His December farewell spending was high enough, the ARP right after by Dems was just gas on the fire. Both sides suck, sure. But one is a complete clown show when it comes to governing, and it has serious consequences on my life. Mueller allegations, fake pee tapes, and tax cuts didn't get in the way of my life. Inflation isn't the same everywhere, and our spending vastly accelerated our problems. The energy crisis has been a prime example of self-inflicted wounds.

 

[TorontoGold]

This is a pretty cool website that shows inflation by country back to 08 - Global inflation tracker: see how your country compares on rising prices

 

[sixstar]

Nice site, thanks Toronto.

After some digging around, here's what the data says:

• Inflation is widespread but not a global issue
• Most European countries are getting hit hard
• Some countries have done a great job at managing inflation: Switzerland, UAE, Israel, Hong Kong
• I don't know enough about government policies to identify how those countries have successfully avoided inflation spikes
• Canadian and US inflation has been almost absolutely identical dating back to 2008
• Since inflation is a widespread issue, and since the inflation reduction act is meant to counteract inflation, we should expect to see the US diverge from the widespread trend.
• Given this data, I don't see how someone can claim that the Biden admin is responsible for the current inflation. However, future data will tell us whether or not his policies were effective. Time will tell.

 

[Irish#1]

So then why is it happening everywhere then?

And Trump didn't increase spending, deficits, and the debt? Cmon man. Let's be real, no one in office actually wants to do anything to curb spending. Trump claimed he would reign things in, then spent more than any president before him. Here I am saying, like I always do in these threads, that both sides suck and don't do anything for us. Biden's policies are not great across the board. He has a hand in inflation. But his presidency is not the reason it's happening only. Especially when there is an entire global inflation issue occurring.

I agree it's is a global issue, but that doesn't mean each country can't increase or lessen the impact in their own country. Is it a coincidence that things started heading the wrong direction after Joe rolled out the printing press?

 

[Armyirish47]

So then why is it happening everywhere then?

And Trump didn't increase spending, deficits, and the debt? Cmon man. Let's be real, no one in office actually wants to do anything to curb spending. Trump claimed he would reign things in, then spent more than any president before him. Here I am saying, like I always do in these threads, that both sides suck and don't do anything for us. Biden's policies are not great across the board. He has a hand in inflation. But his presidency is not the reason it's happening only. Especially when there is an entire global inflation issue occurring.

You have to willfully ignore that passed bills don't dump money out immediately, and pretend you can't see exactly how much the government spends each year. And you could point out the world wide factors affecting energy like say an invasion, and record profits, and oodles of permits laying around unused, but that all takes effort and nuance and WE ARE FRESH OUT.

 

[TorontoGold]

Nice site, thanks Toronto.

After some digging around, here's what the data says:

• Inflation is widespread but not a global issue
• Most European countries are getting hit hard
• Some countries have done a great job at managing inflation: Switzerland, UAE, Israel, Hong Kong
• I don't know enough about government policies to identify how those countries have successfully avoided inflation spikes
• Canadian and US inflation has been almost absolutely identical dating back to 2008
• Since inflation is a widespread issue, and since the inflation reduction act is meant to counteract inflation, we should expect to see the US diverge from the widespread trend.
• Given this data, I don't see how someone can claim that the Biden admin is responsible for the current inflation. However, future data will tell us whether or not his policies were effective. Time will tell.

Canadian economics are essentially dependent on whatever happens in the US, with the exception of education/healthcare lol.

I think those countries go full tilt in whatever respective direction they want to go in like with strict austerity or good regulatory governance. An example of how good governance can impact a country was how our government reduced the exposure to MBS' in Canada so we weren't hit as hard when it came to that aspect of the 08 crisis. I imagine Switzerland has something similar with respect to price controls, but I'm not sure on that.

 

[TorontoGold]

I agree it's is a global issue, but that doesn't mean each country can't increase or lessen the impact in their own country. Is it a coincidence that things started heading the wrong direction after Joe rolled out the printing press?

Sure, but that spending was essentially matched by other countries as well. Additionally, the people who received support from their governments hadn't filed taxes by Jan 2021. So, with most of the gov subsidies being sent without withholding taxes taking off them many people were spending money that didn't necessarily have. I've seen this with clients who spent every dollar of assistance not realizing they'd have to save ~15% for paying their taxes.

At the end of the day it was better for the economy to have that influx of spending so that a depressive cycle wasn't started, the wage pressures of the incredible amount of layoffs in 2020 would have killed the economy if there was an deflationary environment. Easier to manage inflation rather than deflation, although it's like a gun shot vs getting hit by a car.

 

[GowerND11]

I agree it's is a global issue, but that doesn't mean each country can't increase or lessen the impact in their own country. Is it a coincidence that things started heading the wrong direction after Joe rolled out the printing press?

While I'm no economist, I have a hard time thinking inflation happens so immediate. Someone can tell me I'm wrong. I think some of his policies have certainly attributed, but caused? Again not so sure. We'll see like @sixstar said, whether inflation specific legislation works or not. I'm definitely not holding my breath though.

You have to willfully ignore that passed bills don't dump money out immediately, and pretend you can't see exactly how much the government spends each year. And you could point out the world wide factors affecting energy like say an invasion, and record profits, and oodles of permits laying around unused, but that all takes effort and nuance and WE ARE FRESH OUT.

So like I mentioned, every. single. president. over the last 20 years have been having MASSIVE deficit issues with each budget. I find it odd that these issues occur right at the beginning of Democratic cycles (to be clear, I am not a Democrat. I feel like this must be said every time), while the economy finally starts to heal ~4-5 years after a Republican leaves office. IDK man. Makes one think at least.

 

[sixstar]

Canadian economics are essentially dependent on whatever happens in the US

Yes, that was the point. So it will be interesting to see if Canadian inflation is proportionately affected by the inflation reduction act.

 

[drayer54]

Trillions... Trillions...

 

[Polish Leppy 22]

View attachment 3051692









Looks like it is working.

Man...YUGE props on the graph! I wouldn't have believed a word or been able to research this myself. Hat tip.

 

[Irish#1]

Truss resigns because of backlash from her economic plan which causes the pound to nosedive. Nothing Joe has done effects our economy. Hmmm.

 

[Irish#1]

On the drop in mortgage demand, get ready. We have about a half dozen new subdivisions springing up around us. They al started about a year ago and they're building the houses as fast as they can. I had a hard time believing the demand was that great. Then I found out they're building them without buyers. I guess they're taking more of a new car sales approach. With rising prices and interest rates, these houses are going to sit empty and these builders and banks are going to take a bath. You know this has to be happening all over.

 

[Blazers46]

On the drop in mortgage demand, get ready. We have about a half dozen new subdivisions springing up around us. They al started about a year ago and they're building the houses as fast as they can. I had a hard time believing the demand was that great. Then I found out they're building them without buyers. I guess they're taking more of a new car sales approach. With rising prices and interest rates, these houses are going to sit empty and these builders and banks are going to take a bath. You know this has to be happening all over.

And I can’t wait. I’m planning to be a buyer in a few months.

 

[drayer54]

I wonder why Americans don't think the White House is addressing their priorities...



We are led by a clown show.

 

[Irish#1]

He's probably meeting him in hopes of putting his hands on their shoulders.

 

[drayer54]

it’s a stutter…

 

[Blazers46]

it’s a stutter…

1 to 0. I guess he’s right sort of but still unsure if he’s one person or two people.

 

[Irish#1]

https://www.cnn.com/2022/10/25/economy/consumer-confidence-index-october/index.html

 

[drayer54]

How much Kamala and Joe have we seen in battleground races? Wonder why they haven’t been more active?

They did get some quality time with this clown.

 

[Irish#1]

God bless this lost soul.

 

[Irish#1]

How much Kamala and Joe have we seen in battleground races? Wonder why they haven’t been more active?

They did get some quality time with this clown.

Doesn't look like other women? No kidding dude. lol