The Biden Economy

[whell]

Originally Posted by nailer

No, it's the Republicans who are threating default thus putting it on the table. it's something like parents beating their kids and saying, "look what you're making me do to you." BS blame shifting so to speak, and I have never cheered Biden for anything.

No, sorry, that's the way the media is choosing to report it, and that's the media picking sides and "blame-shifting". Biden has assumed a negotiating position that leaves no alternative but to kick the can down the road as they've always done. He's just as responsible for the consequences of assuming that position as the Repubs are for trying to negotiate.

Originally Posted by nailer

In addition, your point about the Dow in #427 is meaningless unless the Dow stocks are not in the S&P 500. Pretty sure they are.

Not meaningless at all. Yes, the Dow stocks are represented in the S&P. However, in the context of 401(K)/mutual fund investment options (which was the context of my response), I can choose to invest in exchange-traded funds (ETF's). There are ETF options that are designed to track the performance of the Dow, or the S&P, or the NASDAQ, etc. The performance of an ETF mimicking, for example, the Dow versus one mimicking the S&P are going to be quite different.

[finnbow]

Originally Posted by whell

No, sorry, that's the way the media is choosing to report it, and that's the media picking sides and "blame-shifting"...

And you're an absolute sucker for pretty much every bad faith GOP action, argument or negotiation tactic without the requisite intelligence to understand how you're being manipulated.

[whell]

Originally Posted by finnbow

And you're an absolute sucker for pretty much every bad faith GOP action, argument or negotiation tactic without the requisite intelligence to understand how you're being manipulated.

And you're a sophist for specifically ignoring where I posted exactly the opposite of that. Here: let me help you before you once again get carried away by your own "facts". Here's the entire quote:

Originally Posted by whell

No, sorry, that's the way the media is choosing to report it, and that's the media picking sides and "blame-shifting". Biden has assumed a negotiating position that leaves no alternative but to kick the can down the road as they've always done. He's just as responsible for the consequences of assuming that position as the Repubs are for trying to negotiate.

The bolded part is the part you chose to leave out.

[nailer]

Originally Posted by whell

1.No, sorry, that's the way the media is choosing to report it, and that's the media picking sides and "blame-shifting". Biden has assumed a negotiating position that leaves no alternative but to kick the can down the road as they've always done. He's just as responsible for the consequences of assuming that position as the Repubs are for trying to negotiate.



2.Not meaningless at all. Yes, the Dow stocks are represented in the S&P. However, in the context of 401(K)/mutual fund investment options (which was the context of my response), I can choose to invest in exchange-traded funds (ETF's). There are ETF options that are designed to track the performance of the Dow, or the S&P, or the NASDAQ, etc. The performance of an ETF mimicking, for example, the Dow versus one mimicking the S&P are going to be quite different.

1) They "media" your refencing is meaningless given that it is not a single entity and is reporting both sides and more of the issue. But keep on selling you spin.

2) My point remains valid regardless of your additional deflecting incoherency.

[Chicks]

Jobs report: April job reports shocks with 253,000 jobs created, unemployment falls
https://finance.yahoo.com/news/april...215956320.html

Sounds like the Biden Economy is firing on all 8 cylinders, eh, Whell?

[nailer]

U.S. Consumer Sentiment @ Six-Month Low

The University of Michigan's most recent survey of consumer sentiment indicates that consumer sentiment in U.S. fell sharply to a six-month low of 57.7 in May of 2023 from 63.5 in April, well below forecasts of 63, amid renewed concerns about the trajectory of the economy, preliminary estimates showed. The expectations gauge declined to 53.4 from 60.5 and the current economic conditions subindex fell to 64.5 from 68.2.

[Rajoo]

Originally Posted by nailer

U.S. Consumer Sentiment @ Six-Month Low

The University of Michigan's most recent survey of consumer sentiment indicates that consumer sentiment in U.S. fell sharply to a six-month low of 57.7 in May of 2023 from 63.5 in April, well below forecasts of 63, amid renewed concerns about the trajectory of the economy, preliminary estimates showed. The expectations gauge declined to 53.4 from 60.5 and the current economic conditions subindex fell to 64.5 from 68.2.

I think some of this is due to the Fed interest rate hikes along with the uncertainty of the debt ceiling fiasco.

And meanwhile Biden economy is doing fine indeed.

When Biden took office in January 2021, the unemployment rate was 6.3 percent. Now it’s 3.4 percent, tied for the lowest figure since 1969. Even more impressive is the 4.7 percent rate for Black Americans: Not only is this the lowest rate in recorded history, but it also represents the smallest-ever gap between Black and White workers (whose unemployment rate stands at 3.1).

And there is a segment of our population that wants to elect DJT who as a casino owner mismanaged it and declared bankruptcy.

https://www.washingtonpost.com/opini...2024-election/

[whell]

Originally Posted by Rajoo

I think some of this is due to the Fed interest rate hikes along with the uncertainty of the debt ceiling fiasco.

And meanwhile Biden economy is doing fine indeed.



And there is a segment of our population that wants to elect DJT who as a casino owner mismanaged it and declared bankruptcy.

https://www.washingtonpost.com/opini...2024-election/

I honestly don't think the average Joe is paying much attention to the political machinations with the debt ceiling. I think the low consumer sentiment is numbers are driven by high gas and fuel prices, with a bit of the bank failure concerns sprinkled in.

[barbara]

I do not know about the average Joe but I do know there are a lot of retired folks wondering if their social security check will come.

[Rajoo]

Originally Posted by barbara

I do not know about the average Joe but I do know there are a lot of retired folks wondering if their social security check will come.

Quoting high gas prices is a typical Repub scare tactic. Other than releasing strategic reserves, how can any president affect gas prices?Typically when gas prices are high, people drive less. Demand drops, supplies remain high and prices come down. Purely supply and demand except in winter months when large amount of heating oil (diesel) is consumed, especially in the North East.

The ceiling battle the GQP is fighting is totally contrived and why it is at an impasse. Nothing will be done because nothing can be done. With any budget reduction, lets start with defense. Who are we defending against and when did the US win a war? (Hint:WW2).