Majority of Americans wrongly believe US is in recession – and most blame Biden

[jc456]

But their feels…

post #99

 

[Plagerist]

There are various definitions of recession.

 

[jc456]

There are various definitions of recession.

cool, give us yours

Biden presiding over strong economy, undercut by inflation

President Joe Biden wasted little time in crowing about stronger-than-expected job creation numbers. At a Feb. 3 event a

www.politifact.com

two consecutive qtrs = recession

 

[Rumpole]

People know they cannot afford anything anymore and can't make ends meet. To them, that is a recession and it is a cold hard fact the left want to deny. Trying to tell everyone who can't afford to live anymore that everything's going just fine is falling on deaf ears.

Naturally right wingers are not going to tell the truth about inflation, that the prime mover of it was teh pandemic, which led to both teh CARES and ARP act, the former by Trump at $2 trillion and latter by Biden at $2 trillion, so when you pump $4Trillion big ones into the money supply without a GDP to back it up, M1, the money supply in people's hands, goes up, just like pumping water into a swimming pool causes everyone in the pool to rise. The inflation was the pricde everyone paid, collectively ,to prevent an economic collapse brought about by the pandemic. This also caused other contributing factors, such as supply chain disruptions, then the war in Ukraine choked gas supplies causing gas to rise, and unscrupulous big business, seeing an excuse to gouge the public where they could blame their price gouging on the 'inflation' they stuck it too us on a number of fronts, this has been documented by Bernie Sanders, but lying Republicans have done a good job of hoodwinking the gullible public into believing it's all Biden's fault. People forget how much chaos existed and scandals after scandals that existed during the Trump years, they call it 'Trump amnesia'. They want to vote for the guy who refused to admit he lost teh election, incited a mob to attack the capitol, colluded with a bunch of criminal lawyers creating fake electors in an attempt to steal the 2020 election? That's the Putin Puppet dictator wannabe they want to elect?

But republicans and right leaning 'independents' are too dishonest to tell the truth.

 

[jc456]

Naturally right wingers are not going to tell the truth about inflation, that the prime mover of it was teh pandemic, which led to both teh CARES and ARP act, the former by Trump at $2 trillion and latter by Biden at $2 trillion, so when you pump $4Trillion big ones into the money supply without a GDP to back it up, M1, the money supply in people's hands, goes up, just like pumping water into a swimming pool causes everyone in the pool to rise. The inflation was the pricde everyone paid, collectively ,to prevent an economic collapse brought about by the pandemic. This also caused other contributing factors, such as supply chain disruptions, then the war in Ukraine choked gas supplies causing gas to rise, and unscrupulous big business, seeing an excuse to gouge the public where they could blame their price gouging on the 'inflation' they stuck it too us on a number of fronts, this has been documented by Bernie Sanders, but lying Republicans have done a good job of hoodwinking the gullible public into believing it's all Biden's fault. People forget how much chaos existed and scandals after scandals that existed during the Trump years, they call it 'Trump amnesia'. They want to vote for the guy who refused to admit he lost teh election, incited a mob to attack the capitol, colluded with a bunch of criminal lawyers creating fake electors in an attempt to steal the 2020 election? That's the Putin Puppet dictator wannabe they want to elect?

But republicans and right leaning 'independents' are too dishonest to tell the truth.

nope.. factually wrong. Take a read

Biden presiding over strong economy, undercut by inflation

President Joe Biden wasted little time in crowing about stronger-than-expected job creation numbers. At a Feb. 3 event a

www.politifact.com

I quote..

Another closely watched metric is gross domestic product, which refers to the sum total of all activity in the economy.

Early in Biden’s tenure, GDP was on the right track. GDP dropped rapidly during the pandemic recession when Trump was president, but grew by rates faster than the historical norm under both Trump and Biden. In three of Biden’s first four quarters, GDP growth exceeded 6%.

Then, the economy began shrinking. The economy contracted modestly in 2022’s first two quarters. This led to worries that the economy had already turned into a recession.

 

[Rumpole]

nope.. factually wrong. Take a read

Biden presiding over strong economy, undercut by inflation

President Joe Biden wasted little time in crowing about stronger-than-expected job creation numbers. At a Feb. 3 event a

www.politifact.com

I quote..

Another closely watched metric is gross domestic product, which refers to the sum total of all activity in the economy.

Early in Biden’s tenure, GDP was on the right track. GDP dropped rapidly during the pandemic recession when Trump was president, but grew by rates faster than the historical norm under both Trump and Biden. In three of Biden’s first four quarters, GDP growth exceeded 6%.

Then, the economy began shrinking. The economy contracted modestly in 2022’s first two quarters. This led to worries that the economy had already turned into a recession.

The stats don't disprove the fact that the prime mover of inflation, which undercut many growth signs, was caused by a $4 trillion fiat currency infusion into M1 by CARES and ARP, implemented by Trump and Biden, respectively.
Both of these policies were to prop up the economy which would have tanked because of the pandemic.

All the conservative monetarists economists (Milton Friedman, et al) know the true cause of inflation. The Chairman of the Fed that centrist and conservative politicians appoint to the chair, namely Paul Volcker who was appointed by Carter, upheld by Reagan, who licked the inflation of those years, and now Jerome Powell appointed by Trump, upheld by Biden, who is now bringing inflation down. Trump really isn't smart enough to know whom to appoint -- Powell's appointment was based on Mnuchin's recommendation. About the only thing that conservative economists get right is the true cause of inflation, and how to bring it down. They are wrong on just about everything else.

 

[Plagerist]

cool, give us yours

Biden presiding over strong economy, undercut by inflation

President Joe Biden wasted little time in crowing about stronger-than-expected job creation numbers. At a Feb. 3 event a

www.politifact.com

View attachment 951417
two consecutive qtrs = recession

Recession: What Is It and What Causes It

A recession is a significant decline in economic activity that lasts longer than a few months.

www.investopedia.com

 

[Independent thinker]

Naturally right wingers are not going to tell the truth about inflation, that the prime mover of it was teh pandemic, which led to both teh CARES and ARP act, the former by Trump at $2 trillion and latter by Biden at $2 trillion, so when you pump $4Trillion big ones into the money supply without a GDP to back it up, M1, the money supply in people's hands, goes up, just like pumping water into a swimming pool causes everyone in the pool to rise. The inflation was the pricde everyone paid, collectively ,to prevent an economic collapse brought about by the pandemic. This also caused other contributing factors, such as supply chain disruptions, then the war in Ukraine choked gas supplies causing gas to rise, and unscrupulous big business, seeing an excuse to gouge the public where they could blame their price gouging on the 'inflation' they stuck it too us on a number of fronts, this has been documented by Bernie Sanders, but lying Republicans have done a good job of hoodwinking the gullible public into believing it's all Biden's fault. People forget how much chaos existed and scandals after scandals that existed during the Trump years, they call it 'Trump amnesia'. They want to vote for the guy who refused to admit he lost teh election, incited a mob to attack the capitol, colluded with a bunch of criminal lawyers creating fake electors in an attempt to steal the 2020 election? That's the Putin Puppet dictator wannabe they want to elect?

But republicans and right leaning 'independents' are too dishonest to tell the truth.

The truth about inflation is that Dem policies increase prices. Of course the left are not going to tell the truth about inflation. After campaigning on Trump not accepting responsibility for anything, Dems say that inflation is someone else's fault.

 

[Missouri_Mike]

The needs of the people-at-large probably don't include a new truck and an excavator.

At least the truck and equipment is useful. If Bidumb won’t pay for something useful like that why the hell should we pay for your worthless ass college degree?

 

[Woodznutz]

At least the truck and equipment is useful. If Bidumb won’t pay for something useful like that why the hell should we pay for your worthless ass college degree?

I agree. The kids signed the contract, they should abide by it. The college financial counsellors should pitch in as well.

Biden should use that money to complete the wall.

 

[citygator]

your metrics leave out food and energy and public utilities....

No they dont. Can we not agree on the metrics since 2019?

Workersâ Paychecks Are Growing More Quickly Than Prices

Most workers’ wages are growing more quickly than prices, and the economic recovery following the COVID-19 recession has featured historically strong real wage growth.

www.americanprogress.org

Fastest wage growth over the last four years among historically disadvantaged groups: Low-wage workers’ wages surged after decades of slow growth

In stark contrast to prior decades, low-wage workers experienced dramatically fast real wage growth between 2019 and 2023, but many workers continue to suffer from grossly inadequate wages and middle-wage workers face significant gaps across demographic groups.

www.epi.org

An Update About How Inflation Has Affected Households at Different Income Levels Since 2019

NotesNotes All years referred to are calendar years. Numbers in the text and figures may not add up to totals because of rounding.

www.cbo.gov

 

[Lesh]

cool, give us yours

Biden presiding over strong economy, undercut by inflation

President Joe Biden wasted little time in crowing about stronger-than-expected job creation numbers. At a Feb. 3 event a

www.politifact.com

View attachment 951417
two consecutive qtrs = recession

Do you know what year this is?

 

[Missouri_Mike]

I agree. The kids signed the contract, they should abide by it. The college financial counsellors should pitch in as well.

Biden should use that money to complete the wall.

A class action suit to make the colleges pay the 35k makes way more sense to me than tax payers footing the bill.

 

[Woodznutz]

Naturally right wingers are not going to tell the truth about inflation, that the prime mover of it was teh pandemic, which led to both teh CARES and ARP act, the former by Trump at $2 trillion and latter by Biden at $2 trillion, so when you pump $4Trillion big ones into the money supply without a GDP to back it up, M1, the money supply in people's hands, goes up, just like pumping water into a swimming pool causes everyone in the pool to rise. The inflation was the pricde everyone paid, collectively ,to prevent an economic collapse brought about by the pandemic. This also caused other contributing factors, such as supply chain disruptions, then the war in Ukraine choked gas supplies causing gas to rise, and unscrupulous big business, seeing an excuse to gouge the public where they could blame their price gouging on the 'inflation' they stuck it too us on a number of fronts, this has been documented by Bernie Sanders, but lying Republicans have done a good job of hoodwinking the gullible public into believing it's all Biden's fault. People forget how much chaos existed and scandals after scandals that existed during the Trump years, they call it 'Trump amnesia'. They want to vote for the guy who refused to admit he lost teh election, incited a mob to attack the capitol, colluded with a bunch of criminal lawyers creating fake electors in an attempt to steal the 2020 election? That's the Putin Puppet dictator wannabe they want to elect?

But republicans and right leaning 'independents' are too dishonest to tell the truth.

I, Woodznutz, will tell the truth.

Our economy will quickly bleed that inflationary money through trade deficits, drug money to cartels, and remittances by resident foreigners. It's all good.

Trade deficit, 2023: $773 Billion
Spent on drugs,
sent to Cartels: $150 Billion (2017 figures).
Remittances: $60 Billion

So, in four years things should be back to normal.

 

[progressive hunter]

The needs of the people-at-large probably don't include a new truck and an excavator.

nor do they include paying for weaves of useless people,,

I hear doordash now takes EBT,,

 

[Rambunctious]

No they dont. Can we not agree on the metrics since 2019?

View attachment 951441

Workersâ Paychecks Are Growing More Quickly Than Prices

Most workers’ wages are growing more quickly than prices, and the economic recovery following the COVID-19 recession has featured historically strong real wage growth.

www.americanprogress.org

Fastest wage growth over the last four years among historically disadvantaged groups: Low-wage workers’ wages surged after decades of slow growth

In stark contrast to prior decades, low-wage workers experienced dramatically fast real wage growth between 2019 and 2023, but many workers continue to suffer from grossly inadequate wages and middle-wage workers face significant gaps across demographic groups.

www.epi.org

An Update About How Inflation Has Affected Households at Different Income Levels Since 2019

NotesNotes All years referred to are calendar years. Numbers in the text and figures may not add up to totals because of rounding.

www.cbo.gov

View attachment 951445

Can't you just use your own words... people on the lower pay scale ere largely deemed to be essential workers and can't take time off... in fact they did overtime to cover for those who ere sick... look at all the nonsense you posted to try and prove to me the economy is strong...
If it takes that much shit its usually bull shit... I can prove to you the economy and inflation are hurting people just by taking you shopping... and to food lines and homeless encampments... and the unemployment office and to Biden's own office which knows people can't repay their student loans in an economy like this....

 

[hadit]

Americans need to stop listening to Republican lies.

Because they get in the way of democrat lies?

 

[progressive hunter]

Old people dont get welfare? Ever hear of Medicaid, which I'm sure you use.

WATCH: Mika Brzezinski sounds so dejected after new poll suggests voters are more afraid of Biden on the economy than Trump on abortion

Mika Brzezinski sounded quite dejected at a new poll suggesting voters are more afraid of Biden setting economic policy than they are Trump setting abortion policy. Here’s the clip: Molly Jon…

therightscoop.com

 

[Lesh]

Can't you just use your own words... people on the lower pay scale ere largely deemed to be essential workers and can't take time off... in fact they did overtime to cover for those who ere sick... look at all the nonsense you posted to try and prove to me the economy is strong...
If it takes that much shit its usually bull shit... I can prove to you the economy and inflation are hurting people just by taking you shopping... and to food lines and homeless encampments... and the unemployment office and to Biden's own office which knows people can't repay their student loans in an economy like this....

Student loan repayment has been a problem for decades dope

 

[Rambunctious]

Student loan repayment has been a problem for decades dope

Yes ever since Obama fixed it... its been a disaster...