Biden Presidency

[Irish#1]

What's wrong with unisex bathrooms?

They bitch because we didn't put the seat back down.

 

[Irish#1]

11K jobs is not even a rounding error in the rate calculation.

I think you're short sighted to dismiss that. It's like dismissing the total number of votes from a small town to the total number of votes casted in an election. Is it a large number compared to the total number? Of course not. Those numbers may be small, but ultimately they contribute to the larger number. It all starts with "1" and goes up from there.

 

[Irish#1]

And both sides play the game, they'll talk of Bill Clinton...but WTF did Clinton do to invent the internet and put the US in an unparalleled geopolitical position? Theyll shit on Carter, but his Fed appointments succeeded in straightening the ship in the 1980s for Reagan. Theyll worship Obama, but ignore historically low interest rates, etc.


It's even better around my neck of the woods where the biggest jobs creators have been a new Amazon warehouse and massive First Solar plant. And people will credit Trump for it lolol

Please don't tell us Clinton or Gore invented the internet. This was being developed both in the private sector and the military before they took office. IIRC Gore happened to chair or sit on a committee that controlled the funds. Even though he likes to say he invented the internet, that was just another politician trying to take credit.

A little off topic, but I don't see Amazon being able to continue this business model. Amazon warehouses are popping up all over the country. They have like 3 or 4 right in the greater Indy area. They churn through employees like crazy. They're like the drummer on the galley ship pushing those slaves to row. It wears on people and there's not an unlimited number of people to fill those positions. They've already raised their wages to entice people to stay, but that's a placebo IMO and a sign their prices will go up.

 

[IrishLax]

<blockquote class="twitter-tweet"><p lang="en" dir="ltr">President Joe Biden will sign an executive order Monday aimed at boosting American manufacturing, setting in motion a process to fulfill his campaign pledge to strengthen the federal government's Buy American rules. <a href="https://t.co/aYR0SvcieV">https://t.co/aYR0SvcieV</a></p>— CNN (@CNN) <a href="https://twitter.com/CNN/status/1353651093771837443?ref_src=twsrc%5Etfw">January 25, 2021</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

Also, this is how you walk-the-walk versus talk-the-talk:

 

[BilboBaggins]

Please don't tell us Clinton or Gore invented the internet. This was being developed both in the private sector and the military before they took office. IIRC Gore happened to chair or sit on a committee that controlled the funds. Even though he likes to say he invented the internet, that was just another politician trying to take credit.

I pretty clearly said he doesn't deserve that praise. He doesn't deserve the praise of the Cold War ending either.

Obama doesn't really deserve praise that fracking revolutionized the oil and gas industry. But they certainly took credit for its overall reduction in greenhouse gases.

In the same vein, Trump doesn't deserve praise for the Fed keeping interest rates so low for so long, or a trillion-dollar tax cut that poured sugar on the economy. If the shoes was on the other foot, "fiscal conservatives" would be crawling out of the woodwork to remind us that we need to reduce government spending and shrink the deficit in a robust economy. Since the Trump Administration threw that into the wind, the increased government spending and other unofficial stimulus makes it even harder to show the administration's positive (sustainable) impact on the economy IMO.

 

[Irish#1]

I pretty clearly said he doesn't deserve that praise. He doesn't deserve the praise of the Cold War ending either.

Fair enough, I misread your post.

 

[dublinirish]

<blockquote class="twitter-tweet"><p lang="en" dir="ltr">President Biden officially repeals the ban on transgender individuals serving in the military<br><br>Full release from the White House <a href="https://t.co/x9c4jgcnOm">pic.twitter.com/x9c4jgcnOm</a></p>— Johnny Verhovek (@JTHVerhovek) <a href="https://twitter.com/JTHVerhovek/status/1353736582185021441?ref_src=twsrc%5Etfw">January 25, 2021</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

 

[NorthDakota]

<blockquote class="twitter-tweet"><p lang="en" dir="ltr">President Joe Biden will sign an executive order Monday aimed at boosting American manufacturing, setting in motion a process to fulfill his campaign pledge to strengthen the federal government's Buy American rules. <a href="https://t.co/aYR0SvcieV">https://t.co/aYR0SvcieV</a></p>— CNN (@CNN) <a href="https://twitter.com/CNN/status/1353651093771837443?ref_src=twsrc%5Etfw">January 25, 2021</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

Also, this is how you walk-the-walk versus talk-the-talk:

Getting around Buy American in DoD was annoying but pretty easy. I have no problem with strengthening that "requirement."

 

[SouthSideChiDomer]

Please don't tell us Clinton or Gore invented the internet. This was being developed both in the private sector and the military before they took office. IIRC Gore happened to chair or sit on a committee that controlled the funds. Even though he likes to say he invented the internet, that was just another politician trying to take credit.

A little off topic, but I don't see Amazon being able to continue this business model. Amazon warehouses are popping up all over the country. They have like 3 or 4 right in the greater Indy area. They churn through employees like crazy. They're like the drummer on the galley ship pushing those slaves to row. It wears on people and there's not an unlimited number of people to fill those positions. They've already raised their wages to entice people to stay, but that's a placebo IMO and a sign their prices will go up.

I feel its exactly the opposite. They are almost at the point of completely taking over. They are basically a more efficient Walmart. They come into an area (with a warehouse capable of same day shipping as opposed to a big box store), undercut local businesses on price undercut suppliers with their own brands, put both suppliers and local businesses out of business, and then they are one of the only jobs hiring so they can keep wages low. Turnover might be high, but its been that way at UPS and Fedex for a long time.

 

[Legacy]

Looks like you're fairly new here and that's cool, but we've compared the Obama economy to the Trump economy (pre covid) several times in other threads. I don't want to do it again. It's exhausting and depressing lol.

Hint...it's not really close and for the 4th time in two days I'll refer to the numbers I posted a few pages back. You can't argue those. It would be like someone telling you ND went 8-4 this year instead of 10-2.

It's not hard to accept that the US is the most technologically advanced in the world. That doesn't mean it's guaranteed that our economy will grow, that small businesses will continue or thrive, that wages will keep rising, etc.

The Economics thread, if I recall, is where much of this Trump v Obama economies can be found.

From NDAccountant #1294:

First, I don't care for the Don. So don't take this as a defense of him. It isn't.

But let's talk the tax situation. I know it's murky and I know there are probably numerous areas that are riddled with favorable deductions that the courts will ultimately decide. So let's focus just on the situation, not who and how they got there.

Cash is cash. When someone invests (M&E, real estate, etc.) it's cash out the door and put into the economy. The amount of cash someone is willing to invest is based on the amount of cash the will receive back over time, whether that is through cost reduction, rent payments, dividends, or in some cases, the avoidance of future losses. The cash generated includes tax implications, including the deductions related to interest and depreciation. When Obama signed the accelerated depreciation into law in 2011/2012, it was estimated that it would reduce federal tax collections by $25B a year (at the time). I think most people would agree, from a purely economic viewpoint, that getting people to churn their investments into the economy is a good thing.

The minimal tax is a byproduct of two things. 1) You have highly leveraged individuals deducting significant amount of interest, which combined with depreciation, generates little or negative tax rates, which will be carried forward. 2) Imbalance in useful life assumptions across industries.

The last one is the true crux of the problem, though #1 is for a different reason. For example, there were special incentives put into a Farm Bill to speed up the depreciation for race horses far beyond what anyone would deem reasonable. As with most things in Washington, it is/was about how $ignificant the lobbying activity is for your chosen industry. I don't think this means our tax system is broken, or that simply raising rates is the solution. It isn't that simple and people will still find a way to dodge them so long as K street exists. That was the brilliance of the 9-9-9 plan. Now, we can debate the merits of sales vs personal income tax. But the simplicity of the tax is what is so attractive. But it was DOA because there is too much $$ spent on lobbying and lining the pockets of all politicians to ever have a change.

As for the issue with #1...it would help quite a bit if we actually allowed businesses to fail. We talk all we can about the employees. It isn't the employees that are bailed it, its the shareholders. If someone / some company is far too leveraged, well, that's on them. Take AMC movie theatres as example. They were far too leveraged and were much more financially aggressive than their peers. They should be held to account.

His #1295 is also worth considering. Rocket89 had a good comparison if I recall.

 

[Irish#1]

I feel its exactly the opposite. They are almost at the point of completely taking over. They are basically a more efficient Walmart. They come into an area (with a warehouse capable of same day shipping as opposed to a big box store), undercut local businesses on price undercut suppliers with their own brands, put both suppliers and local businesses out of business, and then they are one of the only jobs hiring so they can keep wages low. Turnover might be high, but its been that way at UPS and Fedex for a long time.

I think that's their goal, but it's hard to factor in the "human" element and make it work IMO. As I mentioned, they have already increased wages and improved some benefits to keep people from leaving. It will retain some, but from what I've been told, employees have pretty demanding quotas to meet everyday.

Sallie Mae puts collection centers in small towns with high unemployment. Collections is very demanding and the turnover is unbelievable. It doesn't take long before they have trouble filling positions. Not quite apples to apples, but somewhat similar in philosophy.

 

[Rogue219]

There will be five press briefings this week. The Covid briefings will be three times a week. Ted Cruz still has the most punchable face in the Senate, which is a dubious honor.

Loving C-SPAN again.

 

[Rogue219]

Great job the New York Times, too, BTW. Nothing like the 78 year old man wearing a Rolex that belonged to his deceased son being the latest hill they chose to die on. I look forward to their next round of "Nazi next door in Ohio" pieces.

Again, thank you, New York Times. You're good for a few letdowns for both sides of the fence, which may well end up uniting America.

Biden won't be golfing every single weekend, which should save tax payers several more pennies than a Rolex.

 

[Irish#1]

There will be five press briefings this week. The Covid briefings will be three times a week. Ted Cruz still has the most punchable face in the Senate, which is a dubious honor.

Loving C-SPAN again.

Schumer wears that crown.

 

[Rogue219]

Schumer wears that crown.

I'm confident in my answer.

 

[dublinirish]

I'm confident in my answer.

Hello

 

[RDU Irish]

Mazie Horono, Dick Blumenthal, Corey Booker, Tim Kaine and Diane Feinstein would be top of my list but Mitt Romney finishes a close second to Chuck U Schumer.

 

[Bishop2b5]

I'll just leave this right here and drop the mic and walk away.

 

[NorthDakota]

I'm confident in my answer.

Racist

 

[RDU Irish]

I'll just leave this right here and drop the mic and walk away.

I was sticking to the Senate but you have identified the most punchable face in the Swamp

 

[drayer54]

If I get one punch, it's prob going to this guy:

 

[goldandblue]

If you can't accept that the United States is the most technologically advanced, developed, and diversified economy in the history of the world, and that our 330+ million citizens will prosper regardless of the guy in the White House...I'll just shake my head and laugh at ya

Just pointing out that the American economy succeeds regardless of who is President. Not really sure what irony you see.

Doesnt matter who is in charge we are f-ing Power Rangers... Go, Go U.S. Economy.

 

[Polish Leppy 22]

And yet the economy has grown under every single President. Huh.

If we took your logic and applied it to football, you'd laugh at yourself. Imagine someone telling you that since Notre Dame football got better under Charlie Weis and then got better under Brian Kelly, there's no real difference between the two coaches and ND football will just continue to be good no matter who's at the helm.

It doesn't work that way with economics either.

 

[Bishop2b5]

I was sticking to the Senate but you have identified the most punchable face in the Swamp

I don't think I ever bullied anyone in my life, but that face just begs for a swirly.

 

[Ndaccountant]

<blockquote class="twitter-tweet"><p lang="en" dir="ltr">President Joe Biden will sign an executive order Monday aimed at boosting American manufacturing, setting in motion a process to fulfill his campaign pledge to strengthen the federal government's Buy American rules. <a href="https://t.co/aYR0SvcieV">https://t.co/aYR0SvcieV</a></p>— CNN (@CNN) <a href="https://twitter.com/CNN/status/1353651093771837443?ref_src=twsrc%5Etfw">January 25, 2021</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

Also, this is how you walk-the-walk versus talk-the-talk:

https://www.piie.com/blogs/trade-an...ayer-cost-saving-us-jobs-through-made-america

It was bad policy when Trump did the tariffs and it's bad policy now. It's not that I am against setting up "level" playing fields for the American worker. I am not. I just think that broad stroke things like this are too sizable and have far too many "outs" that allow people to skirt. I know what my company does when these things come up. We reshuffle the deck chairs, but by and large, the number of chairs stay the same. We can do that because we have a global supply chain that is nimble. We can compete favorably with this. Nobody on the shop floor gets a raise and the amount of people working stays flat too. As mentioned at the end of this article....

Of course, very little of the money finds its way to workers. Instead, the extra cost is largely lost to inefficient production and higher profits collected by firms.

 

[BilboBaggins]

If we took your logic and applied it to football, you'd laugh at yourself. Imagine someone telling you that since Notre Dame football got better under Charlie Weis and then got better under Brian Kelly, there's no real difference between the two coaches and ND football will just continue to be good no matter who's at the helm.

It doesn't work that way with economics either.

Yeah man, a sport in which the head coach is known for having dictatorial control is just a supremely appropriate comparison for a President's marginal impact on a $20 trillion diversified capitalist society lol

<iframe src="https://fred.stlouisfed.org/graph/graph-landing.php?g=z40p&width=670&height=475" scrolling="no" frameborder="0" style="overflow:hidden; width:670px; height:525px;" allowTransparency="true" loading="lazy"></iframe>

 

[ulukinatme]

Bilbo Baggins
Buster Bluth
Hmmm....

Just a coincidence that the join date is the same month as the election? Probably not.

 

[Polish Leppy 22]

Yeah man, a sport in which the head coach is known for having dictatorial control is just a supremely appropriate comparison for a President's marginal impact on a $20 trillion diversified capitalist society lol

<iframe src="https://fred.stlouisfed.org/graph/graph-landing.php?g=z40p&width=670&height=475" scrolling="no" frameborder="0" style="overflow:hidden; width:670px; height:525px;" allowTransparency="true" loading="lazy"></iframe>

The underlying theme was that ND football improved under both coaches, but BK has taken the program much further than Weis did.

Here's what that chart doesn't reflect:

unemployment
GDP growth
wage growth
manufacturing growth
stock market growth

We aren't guaranteed anything economically no matter who the president is.

 

[TorontoGold]

The underlying theme was that ND football improved under both coaches, but BK has taken the program much further than Weis did.

Here's what that chart doesn't reflect:

unemployment
GDP growth
wage growth
manufacturing growth
stock market growth

We aren't guaranteed anything economically no matter who the president is.

GDP Growth:

https://finance.yahoo.com/news/gdp-growth-under-trump-compares-121008953.html

Average GDP growth rate was lowest under Trump than the previous six presidents.

Job "Growth"

https://en.wikipedia.org/wiki/Jobs_created_during_U.S._presidential_terms

Only president to end with less jobs than he started with.

Stock market growth

https://www.macrotrends.net/2481/stock-market-performance-by-president

Doesn't look so hot compared to the previous presidents (except GWB).

 

[RDU Irish]

Bilbo Baggins
Buster Bluth
Hmmm....

Just a coincidence that the join date is the same month as the election? Probably not.

I’ll flush him out.

Mass transit is stupid and COVID has exposed the stupidity of urban lifestyle.