More Bidenomics: Boom! - There went the US Dollar

[JGalt]

Just think: Only one more year of these economic witchdoctors and we'll be done with them. That is, if the economy can last that long.

U.S. Dollar Falls After Jobs Report Misses Expectations
​

"The U.S. dollar fell Friday as a weaker-than-expected jobs report pushed down Treasury yields.

The WSJ Dollar Index, which tracks the dollar against a basket of foreign currencies, lost 0.7% in a decline that accelerated after the 8:30 a.m. release of the jobs data."

U.S. Dollar Falls After Jobs Report Misses Expectations

 

[HereWeGoAgain]

But,but there must be some mistake...all the demwits on this board have said things are going swimmingly?

 

[JGalt]

But,but there must be some mistake...all the demwits on this board have said things are going swimmingly?

They always say that, just to reassure themselves.

 

[excalibur]

Fewer jobs than expected. And the last two months numbers were downgraded.

 

[Harpy Eagle]

Just think: Only one more year of these economic witchdoctors and we'll be done with them. That is, if the economy can last that long.

U.S. Dollar Falls After Jobs Report Misses Expectations​

​

"The U.S. dollar fell Friday as a weaker-than-expected jobs report pushed down Treasury yields.

The WSJ Dollar Index, which tracks the dollar against a basket of foreign currencies, lost 0.7% in a decline that accelerated after the 8:30 a.m. release of the jobs data."

U.S. Dollar Falls After Jobs Report Misses Expectations

View attachment 802357

The dollar goes up, the dollar goes down, it is just like the stock market. Why did you not post about how high it was back in Sep?

 

[1srelluc]

They leftists wallow in the mire of slow to no growth that they created while trying to convince everyone it's the new normal.

Not only was the jobs report lackluster but 30% of the jobs "created" were grifter .gov jobs and a full half of the rest were part time jobs people took that were already working to make ends meet.....The labor participation rate is still around 63%.....It should easily be in the mid-80s or better.

Most folks don't realize that there are 40 different .gov programs (like EBT and various tax credits) that pay the dead beats to stay home with no work requirements.

I don't know if anyone has kept-up with the price of seafood lately but let me assure you they do not give it away.....Except to EBT recipients.....Yep, a big sign on the side of the seafood/steak truck now about accepting EBT.

 

[citygator]

Just think: Only one more year of these economic witchdoctors and we'll be done with them. That is, if the economy can last that long.

U.S. Dollar Falls After Jobs Report Misses Expectations​

​

"The U.S. dollar fell Friday as a weaker-than-expected jobs report pushed down Treasury yields.

The WSJ Dollar Index, which tracks the dollar against a basket of foreign currencies, lost 0.7% in a decline that accelerated after the 8:30 a.m. release of the jobs data."

U.S. Dollar Falls After Jobs Report Misses Expectations

View attachment 802357

Longer time period.. try not to faint.

 

[JGalt]

Fewer jobs than expected. And the last two months numbers were downgraded.

Not to mention, that the interest rate is over twice as high as it was last September. Looks like we're going to have a recession just in time for the 2024 election.

Good old Bidenomics.

 

[excalibur]

Well, we see a huge increase among government jobs. The inaptly named Inflation Reduction Act was a jobs bill for government jobs, overpaid bureaucrats.

 

[Synthaholic]

Another Strong Jobs Report - The American Economy Remains Remarkably Strong, Resilient​

209,000 new jobs, unemployment at 3.6%, inflation at 1.2% annualized, wage growth strong​

Friday, July 7th - The July BLS jobs report is out and it’s another good one - 209,000 net new jobs, unemployment down to a near record low of 3.6%. Inflation ran at 1.2% annualized last month, and wage growth was strong. With this new data my monthly jobs tracker clocks in at:

• 33.8m jobs - 16 years of Clinton, Obama
• 13.2m jobs - 29 months of Biden
• 1.9m jobs - 16 years of Bush, Bush and Trump

Biden's 13.2m jobs is almost 7 times as many jobs as were created in the 16 years of the last 3 Republican Presidencies, combined. It is also millions more than were created in the entirety of any of their three individual Presidencies. Since 1989 and the end of the Cold War, the US has seen 49 million new jobs created. Remarkably 47 million of those 49 million jobs were created under Democratic Presidents, 96% - essentially all of them.

We’ve also put some of the data which follows into a Twitter thread for those of you who still share on Twitter, and here’s some new material from the White House on the success of the Biden economic agenda.

 

[JGalt]

Well, we see a huge increase among government jobs. The inaptly named Inflation Reduction Act was a jobs bill for government jobs, overpaid bureaucrats.

Not only that, but the new IRS rules were in that Act. Particularly the one where you get a 1099k for selling as much as $600, and get get paid through a payment processor like on Ebay or through Paypal.

That put a damper on a lot of middle-income and retired folk's extra source of income.

 

[Harpy Eagle]

Longer time period.. try not to faint.

View attachment 802367

Wait, so the dollar is stronger now than at any point under Trump?

 

[JGalt]

Wait, so the dollar is stronger now than at any point under Trump?

Was stronger. And if you look at the time period, it was because the pandemic ended, people came out of the lockdowns, and went back to work.

But you can attribute that to your buddy Biden if you want, along with the rest of the Democrats. I won't tell anyone, I promise.

 

[Harpy Eagle]

Was stronger. And if you look at the time period, it was because the pandemic ended, people came out of the lockdowns, and went back to work.

But you can attribute that to your buddy Biden if you want, along with the rest of the Democrats. I won't tell anyone, I promise.

I do not attribute it to either POTUS. Unlike you I understand that the POTUS is not a god and does not control everything.

 

[JGalt]

I do not attribute it to either POTUS. Unlike you I understand that the POTUS is not a god and does not control everything.

Add to the equation the fact that the inflation rate is currently twice what it was during the Trump era, and tell me again how "strong" the dollar is. The country is still trying to pull itself out the 9.1% inflation rate we had under Biden and like I said, everyone went back to work after the pandemic. Biden didn't do shit to help the economy, except spend a shitload of unnecessary money, which caused the high inflation.

Now before you say "But Trump spent a lot too", just remember: Trump didn't really spend all that much until the pandemic hit us, and in his last year of office. That was necessary spending at the time.

 

[Harpy Eagle]

Add to the equation the fact that the inflation rate is currently twice what it was during the Trump era, and tell me again how "strong" the dollar is. The country is still trying to pull itself out the 9.1% inflation rate we had under Biden and like I said, everyone went back to work after the pandemic. Biden didn't do shit to help the economy, except spend a shitload of unnecessary money, which caused the high inflation.

The equation for the strength of the dollar takes into account things like inflation.

Now before you say "But Trump spent a lot too", just remember: Trump didn't really spend all that much until the pandemic hit us, and in his last year of office. That was necessary spending at the time.

Trump took the deficit from 584 billion to 983 billion in the 3 years before COVID, that is a 68% increase in 3 years.

 

[JGalt]

The equation for the strength of the dollar takes into account things like inflation.





Trump took the deficit from 584 billion to 983 billion in the 3 years before COVID, that is a 68% increase in 3 years.

Not really. Trump's spending was no worse than Obama's, until the pandemic.

 

[Harpy Eagle]

Not really.

Your chart literally shows what I just said.

Trump's spending was no worse than Obama's, until the pandemic.

And Obama's was terrible, he was a huge spender and Trump was no better till the pandemic and then he was worse.

That is my whole point, Trump was no better than Obama, and we need to do better than Obama.

 

[citygator]

Add to the equation the fact that the inflation rate is currently twice what it was during the Trump era, and tell me again how "strong" the dollar is. The country is still trying to pull itself out the 9.1% inflation rate we had under Biden and like I said, everyone went back to work after the pandemic. Biden didn't do shit to help the economy, except spend a shitload of unnecessary money, which caused the high inflation.

Now before you say "But Trump spent a lot too", just remember: Trump didn't really spend all that much until the pandemic hit us, and in his last year of office. That was necessary spending at the time.

Are you “tarded? The dollar index compares its ability to purchase other currency and therefore doesn’t need inflation adjustment… it is an inflation adjustment. Geez.

 

[toobfreak]

But,but there must be some mistake...all the demwits on this board have said things are going swimmingly?

Yeah, according to the Left, didn't we just outpace job growth by 200% expectations?