The results of Bidenomics

[JohnDB]

 

[iamwhatiseem]

Job openings are collapsing because companies aren't even filing them anymore.
They gave up.
When you have a generation that thinks every job, no matter how simple and low it is, should pay at least $18/hr....

 

[iamwhatiseem]

Did you condemn Trump's debt?

I have done it 100 times on this forum.
But that isn't the point.
The point is, you said I was making an excuse in a post where there was not a single opinion given, but a side note about how odd it is that debt spending statistics between sites by any President is as much as 20% off from one to another.

 

[pknopp]

I have done it 100 times on this forum.
But that isn't the point.
The point is, you said I was making an excuse in a post where there was not a single opinion given, but a side note about how odd it is that debt spending statistics between sites by any President is as much as 20% off from one to another.

Trying to deflect from his debt is making excuses. Why should anyone who failed the first time get another chance at it?

 

[iamwhatiseem]

Trying to deflect from his debt is making excuses. Why should anyone who failed the first time get another chance at it?

Now you are just making shit up.
1) You make a post saying Trump spent $7.8 trillion.
2) I was interested in looking at how the last 3 Presidents compared to each other so I went to look it up
3) I immediately noticed the first source listed Trump at $6.2 or whatever it was. Thinking that is odd, I went to another, and then another and each one listed each President way different from each other.
4) I found that odd, and posted it

5) You somehow think this means I am excusing Trump's spending.

That is a good example of TDS... turning everything into something about Trump

 

[pknopp]

Now you are just making shit up.
1) You make a post saying Trump spent $7.8 trillion.
2) I was interested in looking at how the last 3 Presidents compared to each other so I went to look it up
3) I immediately noticed the first source listed Trump at $6.2 or whatever it was. Thinking that is odd, I went to another, and then another and each one listed each President way different from each other.
4) I found that odd, and posted it

5) You somehow think this means I am excusing Trump's spending.

That is a good example of TDS... turning everything into something about Trump

Why should someone who fails the first time get a second chance at it?

 

[LAUGHatLEFTISTS]

Yes, those are the numbers. Here again, care to elaborate? You really haven’t said anything with substance yet.

I disagree. I pointed out you’re a useful idiot. That’s all we need to know.

 

[Godboy]

What do you mean? In what sense are the 12.8 million jobs created under Biden paid for with taxes? Are you only talking about the jobs that stem from the infrastructure bill? You could make an argument there in that case, but why would that be a bad thing?

You listed government jobs, otherwise the rest are just people returning to work after COVID. Why are you giving Joe credit for creating jobs? Presidents dont create jobs. They can make business friendly environments like Trump did, but they dont create jobs.

 

[JohnDB]

Job openings are collapsing because companies aren't even filing them anymore.
They gave up.
When you have a generation that thinks every job, no matter how simple and low it is, should pay at least $18/hr....

Also many of the jobs being offered are junk jobs....meaning extra high requirements for substandard wages. Everyone wants to buy dollars for dimes....few are willing to make such an exchange.

 

[iamwhatiseem]

Also many of the jobs being offered are junk jobs....meaning extra high requirements for substandard wages. Everyone wants to buy dollars for dimes....few are willing to make such an exchange.

A career is an incline.
You begin at those crap jobs, get better, graduate, start at a "higher level of low" get better and so on to how far/high you want to go.
Millennials wanted to start out of the gate at mid level...just go right to high paying... Gen Z wants there to be NO low levels at all.

So your point is more wrong than right.

 

[JohnDB]

A career is an incline.
You begin at those crap jobs, get better, graduate, start at a "higher level of low" get better and so on to how far/high you want to go.
Millennials wanted to start out of the gate at mid level...just go right to high paying... Gen Z wants there to be NO low levels at all.

So your point is more wrong than right.

No...
An MBA w/10 years experience is not going to accept any job offer that is less than 6 figures...however the jobs currently offered are paying mid 5's. Especially when an MBA knows he can create his own job surrounding his unique skill set in a heartbeat...and they often do as "work from home" is extremely common in today's environment.

Companies are trying to cut labor costs in any fashion they can....because a recession is coming. The cooking of the books to try and hide it is making things worse....but it's coming fast and furiously. Somewhere between end of January through September it should be here. The gas is gone...the economy is merely coasting. It's not exactly a secret. Bond yields tanked.

 

[iamwhatiseem]

No...
An MBA w/10 years experience is not going to accept any job offer that is less than 6 figures...however the jobs currently offered are paying mid 5's. Especially when an MBA knows he can create his own job surrounding his unique skill set in a heartbeat...and they often do as "work from home" is extremely common in today's environment.

Companies are trying to cut labor costs in any fashion they can....because a recession is coming. The cooking of the books to try and hide it is making things worse....but it's coming fast and furiously. Somewhere between end of January through September it should be here. The gas is gone...the economy is merely coasting. It's not exactly a secret. Bond yields tanked.

An MBA with 10 years experience has nothing to do with retail jobs.
So not sure why you bring that up

 

[JohnDB]

An MBA with 10 years experience has nothing to do with retail jobs.
So not sure why you bring that up

Retail is entry level stuff....low skilled jobs. Not really relevant to good jobs. Not really productive for our economy. It's a matter of just recycling existing dollars.

Engineering, farming, lumber, technology and etc....these are things we as a nation export and grow the economy with.

 

[ScorpioRising007]

GDP growth is currently at 5.2% - historically high. Unemployment (U3) is currently at 3.7% - historically low. The stock market is currently at an all time high - historically...record breaking. Pandemic-related (supply shock) inflation is now getting under control as a result of interest rate hikes from the central bank. Economists are now saying we will get a soft landing out of inflation as opposed to a recession. Here in FL where I live, there are 176 infrastructure projects queued up and backed by $8.1B in funding from Biden's historic infrastructure bill to build and repair roads, bridges, public transport, ports, airports, clean water, etc. This will ensure economic prosperity for the next several years during the building phase at the very least.

And yet if I talk to any of my republican voter friends, most tend to disregard all of the economic data mentioned above and instead declare - without any supporting facts or data - that we're actually in the worst economy in 50 years. So with that, I'm curious what republican/libertarian voters here on this board think about the economy?

Here are the facts one more time. 5.2% GDP. 3.7% unemployment. Record high stock market. Solid growth in output. Solid stability in the labor market. Solid value in investment. And as things like the Infrastructure bill and the CHIPs Act play out, there are solid economic prospects for the future for years to come.

I'm going to add in some historical jobs numbers as well, since Joe Biden was also VP in the Obama administration. Quite literally all private sector job growth in the 21st century happened under democratic presidents. The numbers below are from BLS databases (B tables on seasonally adjusted private sector jobs).

Clinton - 2000 to 2001: 1.4M jobs created
W Bush - 2001 to 2009: 373k jobs lost
Obama - 2019 to 2017: 11.8M jobs created
Trump - 2017 to 2021: 2.1M jobs lost
Biden - 2021 to 2023: 12.8M jobs created

GDP expansion and the labor market are some of the most commonly cited data points used by economists to explain the economy. So there is the data for the 21st century.

Putting all of this together, what do republican/libertarian voters of this site make of all of this and Bidenomics? I'm interested in hearing about how you think the economy is doing today, and what data it is you're looking at that leads you to that conclusion. Also curious in what you have to say about the current state of GDP, the labor market, and the stock market. Also curious about what you think about jobs results in the 21st century.

GDP data: https://www.bea.gov/news/2023/gross...-corporate-profits-preliminary-estimate-third
Unemployment rate data: Employment Situation Summary - 2023 M11 Results
Historical jobs data: Establishment data series from the monthly B Tables : U.S. Bureau of Labor Statistics

Yep my wife and I are having the highest wages now of our lives and we are loving it. My wife went from minimum wage to $17/hr and she is tickled pink. Go Biden! Way to go Democrats doing a great job!

 

[DialogDiplomat]

I also forgot to mention that now that inflation has subsided, wage growth has exceeded inflation for every month from February forward. So, again, solid growth in GDP, full employment, wage growth exceeds inflation, and the infrastructure bill/CHIPs Act/Inflation Reduction Act will drive even more economic stability going forward. We're also at record level oil production at 13M barrels per day. And we're also a net energy exporter, with a record breaking export surplus of 5.94 quads.

Remember to vote!

Wage growth vs inflation U.S. 2023 | Statista

The rate of inflation overtook the growth of wages in April 2021. High rates of inflation means that consumers are seeing a decrease in purchasing power

www.statista.com

U.S. energy facts - imports and exports - U.S. Energy Information Administration (EIA)

U.S. energy imports and exports since 1950.

www.eia.gov

 

[JohnDB]

 

[iamwhatiseem]

Retail is entry level stuff....low skilled jobs. Not really relevant to good jobs. Not really productive for our economy. It's a matter of just recycling existing dollars.

Engineering, farming, lumber, technology and etc....these are things we as a nation export and grow the economy with.

Well that is just nuts. And a good representation of what is hurting the labor market.
Young people learn work ethics from those retail jobs. How to interact with people they don't particularly like. Dealing with difficult bosses, getting use to the idea that working means doing what you don't really want to be doing for hours on end.
Those early jobs are a critical part of one's career. It is a teaching tool.

 

[JohnDB]

Well that is just nuts. And a good representation of what is hurting the labor market.
Young people learn work ethics from those retail jobs. How to interact with people they don't particularly like. Dealing with difficult bosses, getting use to the idea that working means doing what you don't really want to be doing for hours on end.
Those early jobs are a critical part of one's career. It is a teaching tool.

I didn't say anything about entry level being completely worthless. For some people this is as far as they go in life. That's their career....they get no skills or training that pays beyond "entry level " jobs.

Skilled trades (including nursing and truck driving) pays better but it requires training, education, and putting up with lousy working conditions.

Administrative jobs have a wide range of skills and training requirements. Some are entry level and some require a master's degree at a minimum with other certification and licenses. Entry level is fine for so many people who don't get an education...but they are EASILY REPLACED WITH AI.

 

[iamwhatiseem]

I didn't say anything about entry level being completely worthless. For some people this is as far as they go in life. That's their career....they get no skills or training that pays beyond "entry level " jobs.

Skilled trades (including nursing and truck driving) pays better but it requires training, education, and putting up with lousy working conditions.

Administrative jobs have a wide range of skills and training requirements. Some are entry level and some require a master's degree at a minimum with other certification and licenses. Entry level is fine for so many people who don't get an education...but they are EASILY REPLACED WITH AI.

Then I will blame it on communicating via a keyboard, I am misunderstanding you.
Cheers

 

[JohnDB]