How Much Do You Really Know About The Economy?

[Road Runner]

This video made me realize not much lol as I understand (almost) everything that's happening, but I don't really understand how it's all connected. Of course, that could be because of my learning disabilities.

 

[Harpy Eagle]

So, I am a little confused....the title is "Inflation Explained in 6 Minutes", but the video is 25 mins long.

I was sort of willing to give up 6 minutes, no way I am going for 25.

​

 

[Road Runner]

So, I am a little confused....the title is "Inflation Explained in 6 Minutes", but the video is 25 mins long.

I was sort of willing to give up 6 minutes, no way I am going for 25.

​

It's a person talking about the guy in the video talking about it. I can't find the original, but you don't have to watch the video to participate in the topic.

 

[Harpy Eagle]

It's a person talking about the guy in the video talking about it. I can't find the original, but you don't have to watch the video to participate in the topic.

It is an interesting question. I like to think I am knowledge about such things, but I am sure many would tell me I am not.

I literally today had someone on this very forum that my personal income is irrelevant when determining investment opportunities and living quarters. He said I was instead supposed to care about the average household income vs average house costs. It really blew my mind.

As I have gotten older I care less about the big picture when it comes to the economy as I have come to realize I have no control over it. Right now all I really care about is me and mine. I am doing all I can to ensure the wife and I have an amazing retirement and that my kids are well situated for whatever comes our way. Nothing else really matters.

Even the coming recession, and it is coming, is not of huge concern for me. My wife's job is about a recession proof as any job in the country and mine is not far behind.

 

[ReinyDays]

We have a labor shortage here ... everyone has "help wanted" signs out, many include promised wages of $20 to $25 an hour ... obviously, the costs of products and services that are labor-intensive are more expensive if available at all ...

 

[LA RAM FAN]

what we know about the economy is that it was booming under Trump and now it is worse than it ever has been sense the great depression going back to the time of those fascists Hoover and FDR thanks to lying Biden.

 

[initforme]

All I know is 4.5 million people quit their jobs last year. Amazing.

 

[LA RAM FAN]

what we know about the economy is that it was booming under Trump and now it is worse than it ever has been sense the great depression going back to the time of those fascists Hoover and FDR thanks to lying Biden.

It never fails,when our resident trolls cannot refute facts,they try and laugh them off.

 

[Sandisk]

what we know about the economy is that it was booming under Trump and now it is worse than it ever has been sense the great depression going back to the time of those fascists Hoover and FDR thanks to lying Biden.

Booming?

In the three fiscal years before Covid, the GDP under Trump grew by an average of about 2.5%.

How Every President Since Hoover Has Affected the U.S. Economy

Presidents influence economic growth through taxes, spending, and more. Here's how gross domestic product (GDP) grew or contracted during each president's term.

www.thebalance.com

3% is the bare minimum for solid growth.
4% is good.
Growth was MILES from that under Trump.

In fact, no POTUS in history since the Great Depression has worse GDP growth over his term than Trump did.

GDP Growth Under Trump Was the Worst Since Hoover

The pandemic was partly to blame, and there are some measures that make his record look better. But it was not a stellar performance.

www.bloomberg.com

By the way, I despise both parties.

 

[Harpy Eagle]

Booming?

In the three fiscal years before Covid, the GDP under Trump grew by an average of about 2.5%.

How Every President Since Hoover Has Affected the U.S. Economy

Presidents influence economic growth through taxes, spending, and more. Here's how gross domestic product (GDP) grew or contracted during each president's term.

www.thebalance.com

3% is the bare minimum for solid growth.
4% is good.
Growth was MILES from that under Trump.

In fact, no POTUS in history since the Great Depression has worse GDP growth over his term than growth did.

GDP Growth Under Trump Was the Worst Since Hoover

The pandemic was partly to blame, and there are some measures that make his record look better. But it was not a stellar performance.

www.bloomberg.com

By the way, I despise both parties.

and do not forget that Trump himself said anything under 5% growth was bad....yet these people worship him for half of that.

 

[Sandisk]

This guy is only partially right.
But he COMPLETELY missed the fact that the Fed tossed almost $4 TRILLION at the economy during that time.

Recent balance sheet trends

The Federal Reserve Board of Governors in Washington DC.

www.federalreserve.gov

Throw in the $4 trillion of extra money the government threw at the economy over 2 fiscal years.
Plus the Fed lowering interest rates.
And the fact that shit loads of cheap money had been sloshing around the economy for over a decade.
THAT is what caused the inflation - primarily.
Not 'greedy businesses'.
But the fucking government and the Fed (which is NOT part of the government) are what caused it.

And this 'companies raised prices due to greed' is bullshit.
Housing prices are raised by consumers primarily as FAR more houses are sold by homeowners - not by developers.

It's simple.
You throw $4 TRILLION dollars at a $20 trillion dollar economy - for two years?
And throw in shipping/inventory problems.
And - DUH - you get inflation.

The government(s) caused the Covid Depression with their pathetic, unnecessary and unconstitutional lockdowns.

Great Barrington Declaration and Petition

As infectious disease epidemiologists and public health scientists we have grave concerns about the damaging physical and mental health impacts of the prevailing COVID-19 policies, and recommend an approach we call Focused Protection

gbdeclaration.org

Then the Federal government and the Fed caused the inflation by throwing GIGANTIC amounts of money and low interest rates at the economy for two years.

This entire problem was caused by governments and the Fed.

 

[Sandisk]

and do not forget that Trump himself said anything under 5% growth was bad....yet these people worship him for half of that.

It truly is amazing that just because Trump kept saying - over and over - that the economy was 'booming'.
All his disciples (and much of the MSM) believed him without even checking to see if it was true or not.