Democrats, is the economy Ok?
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bendog
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Inflation's decling actually to the Fed's targeted rate. Interest rates coming down. I had little doubt the dems would **** up the economy, and my stimulus payments are currently in FDIC interest bearing accounts, but you know ... by an objective measure, we are better off now than 4 years ago
www.bea.gov
That's as close to 1932 as I wish to go, thanks very much.
Do I now want a president who has vowed to fire the head of the fed (he can't) and whose tax positions include reversing cuts to tax breaks on SALT, tax breaks for OT and tips, more spending ... when his own party is not for implementing the tax breaks? NO. I'd much rather have voted for Haley (before she went maga) or maybe even the guy from ND, but Trump is a vote for anarchy
Gross Domestic Product (Third Estimate), Corporate Profits (Revised), and GDP by Industry, Third Quarter 2020 | U.S. Bureau of Economic Analysis (BEA)
Real gross domestic product (GDP) increased at an annual rate of 33.4 percent in the third quarter of 2020 (table 1), according to the "third" estimate released by the Bureau of Economic Analysis. In the second quarter, real GDP decreased 31.4 percent.
That's as close to 1932 as I wish to go, thanks very much.
Do I now want a president who has vowed to fire the head of the fed (he can't) and whose tax positions include reversing cuts to tax breaks on SALT, tax breaks for OT and tips, more spending ... when his own party is not for implementing the tax breaks? NO. I'd much rather have voted for Haley (before she went maga) or maybe even the guy from ND, but Trump is a vote for anarchy
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His tariff pan will send inflation into orbit.Inflation's decling actually to the Fed's targeted rate. Interest rates coming down. I had little doubt the dems would **** up the economy, and my stimulus payments are currently in FDIC interest bearing accounts, but you know ... by an objective measure, we are better off now than 4 years ago
Gross Domestic Product (Third Estimate), Corporate Profits (Revised), and GDP by Industry, Third Quarter 2020 | U.S. Bureau of Economic Analysis (BEA)
Real gross domestic product (GDP) increased at an annual rate of 33.4 percent in the third quarter of 2020 (table 1), according to the "third" estimate released by the Bureau of Economic Analysis. In the second quarter, real GDP decreased 31.4 percent.
That's as close to 1932 as I wish to go, thanks very much.
Do I now want a president who has vowed to fire the head of the fed (he can't) and whose tax positions include reversing cuts to tax breaks on SALT, tax breaks for OT and tips, more spending ... when his own party is not for implementing the tax breaks? NO. I'd much rather have voted for Haley (before she went maga) or maybe even the guy from ND, but Trump is a vote for anarchy
bendog
Diamond Member
I think it's really about the deficits. And the gop (not trump) knows it cannot roll back all the tax HIKEs, that it passed to get the tax cuts, keep the tax cuts and increase spending. AND THAT IS THE TRUMP plan.
OF course it's all pandering. And Harris is pandering. But the facts are (and they aren't disputable) that in the 3rd qtr of 2000, we veered from double diget gnp drops to double diget increases, and no one really knew what the hell was going on. Except the economy appeared to be gaining strength.
What we have now is a federal budget that is STILL inflationary, but the fed's interest rate policy is back to what it normally is, and it's not guessing. I trust the gop more with the econ than Trump, but maybe Team Harris needs to get ready to assault Trump (-: on this front.
berg80
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Yes.
- Initial jobless claims for the week ending Sept. 21 totaled 218,000, a decrease of 4,000 from the previous period and slightly better than the 223,000 Dow Jones estimate. Continuing claims, which run a week behind, rose to 1.834 million, a touch below the FactSet forecast.
- Orders for long-lasting “durable goods” orders for items such as aircraft, appliances and computers, were little changed for August, better than the estimate for a 3% decline.
- Gross domestic product rose at a 3% annualized rate in the second quarter, according to the last of three readings from the Commerce Department. That was in line with market expectations.
Mac1958
Diamond Member
I'd like to know exactly who the **** is telling him that this is a good idea.
Maybe it's just his normal economic ignorance.
Independent thinker
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Democrats are great at talking out of both sides of their mouths. Same thing goes for the border. They messed up the border with their policies and then they blamed Trump for it for nixing the "bipartisan" border bill (after three years of THEIR failed policies), even though they are now claiming that the border is now under control thanks to them, even though the "bipartisan" border bill failed. So, now they are claiming the border is secure without the border bill but Harris has promised that if she wins, she will re-introduce the "bipartisan" border bill, even as they say the border is now under control. Splain that to me.
Biden instructs media to 'start writing' that his inflation policies are 'working'
President Biden was asked Wednesday about a recent Consumer Price Index (CPI) report showing inflation rates falling below 3% for the first time in years.www.yahoo.com
Joe Biden is instructing the media to tell Americans that the economy is Ok. And there have been a slew of true believers in the DNC telling us just how fabulous the economy really is. However, then comes Kamala telling us she will set price controls into place. Why, if the economy is doing so well?
And why does Joe Biden not put price controls into place now? Is he saving this for Kamala to try and get elected? And what does price controls look like? Will it effect Big Oil, Big Grocery, Big Mortgage, Big insurance? Essentially, what does price control really look like?
Again, no one knows because a Kamala sighting as is rare as a Sasquatch sighting these days. All she does is talk in generalities and demonize others as to why her administration is looking so bad these days.
Who will stop the government from tax gauging? Who will stop Big Government?
Anyone?
berg80
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But talk to a MAGA and all you hear is moans and groans. Wait until trump, if elected, slaps tariffs on incoming goods. Then watch the economy dive...dive...dive.
sartre play
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Never has been, we have depressions, recessions, failures in wars, attacks on us. health crises,Biden instructs media to 'start writing' that his inflation policies are 'working'
President Biden was asked Wednesday about a recent Consumer Price Index (CPI) report showing inflation rates falling below 3% for the first time in years.
Joe Biden is instructing the media to tell Americans that the economy is Ok. And there have been a slew of true believers in the DNC telling us just how fabulous the economy really is. However, then comes Kamala telling us she will set price controls into place. Why, if the economy is doing so well?
And why does Joe Biden not put price controls into place now? Is he saving this for Kamala to try and get elected? And what does price controls look like? Will it effect Big Oil, Big Grocery, Big Mortgage, Big insurance? Essentially, what does price control really look like?
Again, no one knows because a Kamala sighting as is rare as a Sasquatch sighting these days. All she does is talk in generalities and demonize others as to why her administration is looking so bad these days.
Who will stop the government from tax gauging? Who will stop Big Government?
Anyone?
All because of political party's over country.
Independent thinker
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Inflation is 25% higher than when Biden took office, not 2.2%.
Like trump killing the strongest border deal ever...cause he needed a political talking point.
AntonToo
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I don't think that word means what you think it means.
Prices are higher, but annualized rate of price increase (inflation) is now back to normal at 2.X%
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Independent thinker
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Prices are 25% higher than when Biden took office, not 2.5%. You messed up on a decimal.
AntonToo
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I don't know where you get 25% from, but that inflation is rate of annualized increase in prices, while you are talking about the total price increase over 4 years.
And whats the political point? Trump will fix the already fixed inflation? Or maybe put the country into deflation so you can have your "25%" back?
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Independent thinker
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When prices are higher than they used to be that is called inflation. Prices are now about 25% higher than when Biden took office. Are you a fact denier?I don't know where you get 25% from, but that inflation is rate of annualized increase in prices, while you are talking about the total price increase over 4 years.
And whats the political point? Trump will fix the already fixed inflation? Or maybe put the country into deflation so you can have your "25%" back?
AntonToo
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Where did you get 25% so called "fact" from?
And again, what could you possibly want Trump to do about already fixed inflation that now sits at 2.x%?
Independent thinker
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Trump will make sure that it does not go up by another 25% in just 3 years.
AntonToo
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So no, you can’t explain where the **** you got 25% from.
It was 7, 6.5, 3.4, 2.5* annually in Biden’s 4 years. So thats ~19% total in first 3 years
Don't know why the hell you imgine that inflation is going to be going up in 2025, when all it did is fall for 3 years, but lets even set that aside and consider what Trump would possibly do to prevent that:
He will:
1. Keep interest rates high - NOPE, he'll complain they are not coming down fast enough for him to brag about GDP.
2. Reduce tarrifs - NOPE, he is promising to jack them up, which is inflationary.
3. Increase income taxes - NOPE, Republicans only know how to cut them rain or shine.
4. Reduce spending - NOPE, he never has, never will, doesn't give a shit what happens after his term.
berg80
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US remains engine of global growth in latest IMF forecasts
WASHINGTON, Oct 22 (Reuters) - The U.S. economy will continue to provide most of the thrust for global growth through the balance of this year and in 2025, led by robust consumer spending that has held up through a wrenching bout of inflation and the high interest rates used to tame it, the International Monetary Fund said on Tuesday.
In its latest World Economic Outlook, the IMF raised its 2024 and 2025 economic growth forecasts for the U.S. - the only developed economy to see its outlook marked up for both years - and its chief economist said the "soft landing" sought by the Federal Reserve in which inflation eases without big damage to the job market had largely been achieved.
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