The Biden Economy

[whell]

Originally Posted by finnbow

Oh, and the DJIA has recovered from your shouts of gloom & doom and my investment portfolio is still over twice what it was under Trump.

When precisely did shout about gloom and doom? More bs from you.

[whell]

Originally Posted by Chicks

Recession Is Not Inevitable, Despite Stock Market Slump
https://reason.com/2024/08/05/recess...-market-slump/

From your Libertarian pals, Whell.

Since you posted this article, should I assume that you also agree with this quote from it?

Monetary policy is a poor tool for job creation. Entrepreneurs have a much better track record.

Or this?

But a sane immigration policy combined with labor reforms like loosening occupational licensing requirements would fill more of those job openings while creating more opportunities for workers who are still outside the labor force.

[Chicks]

Trump Media says its second-quarter revenue plunged 30% to under $900,000
https://www.cbsnews.com/amp/news/tru...-under-900000/

…and this is the incompetent buffoon you want running the show, Whell? You’re such a fool.

[finnbow]

Originally Posted by whell

When precisely did shout about gloom and doom? More bs from you.

Your first post in 6 months came on the day of a big drop in the DJIA, in a stupid attempt to affix blame for it on Biden's economic policies. Now that the market recovered with one of the largest single day gains in history, your argument has fallen flat and has morphed into a defense of Trump's sexual deviancy.

[finnbow]

The CEO of Bank of America, Brian Moynihan, said that the financial giant no longer believes a recession is on the horizon for the American economy, hinting that the Biden administration and Federal Reserve have achieved a “soft landing” after inflation troubles in recent years.

https://thehill.com/business/4822935...icted-anymore/

More bad news for Whell and good news real Americans.

[Chicks]

More voters trust Harris than Trump on economy: Survey
https://thehill.com/homenews/campaig...arris-economy/

Makes sense to me. Donny inherited his money from daddy (while illegally avoiding taxes), and his companies always go bankrupt. Fools like Whell still insist he’s a “great business man”, which everyone with an ounce of sense knows is just another lie.

[Chicks]

US Small-Business Optimism Climbs to Highest Since February 2022
https://www.bloomberg.com/news/artic...-february-2022

Sorry for all the great economic news, Whell. I know it puts a damper on your idiotic narrative.

[finnbow]

Here's an article just for our boy Whell:

Prominent right-wing propagandists followed former President Donald Trump out on a limb by blaming Vice President Kamala Harris for a global stock sell-off on August 5, only to be exposed as opportunistic buffoons as the markets recovered this past week.

A weaker-than-expected U.S. jobs report and shift in strategy at Japan’s central bank triggered August 5’s “global mini-crash,” with all three major U.S. stock indexes posting steep losses. The Dow Jones Industrial Average, S&P 500, and NASDAQ Composite have since reversed those losses, however, remaining up significantly over the past six months and up dramatically since President Joe Biden and Harris took office in January 2021.

[Chicks]

What Milton Friedman Got Wrong About Immigration and the Welfare State
He was wrong to think "You cannot simultaneously have a welfare state and free immigration."
https://reason.com/volokh/2024/08/14...welfare-state/

Immigration restrictionists love to quote Milton Friedman's line that "[y]ou cannot simultaneously have a welfare state and free immigration." There are lots of other rationales for immigration restriction. But this one has obvious resonance to people who otherwise favorite free markets. In a helpful recent post, economist Bryan Caplan, a leading expert on immigration policy, outlines why Friedman was wrong on this point. As Caplan points out, evidence indicates that most immigrants actually contribute more to the public fisc than they take out. The Congressional Budget Office estimates that the surge in migration since 2021 will reduce the federal budget deficit by almost $1 trillion over the next decade.

In addition, as Bryan notes, if immigrants really were a fiscal drain, there is the obvious "keyhole solution" of limiting immigrants' eligibility for welfare benefits. The US already does this to a substantial extent under the 1996 Welfare Reform Act, and such exclusion could be broadened, if necessary. When asked about this possibility in the same 1999 interview where he made the more famous comment about immigration, Friedman admitted he "ha[dn't] really ever thought" of it. That's understandable, given that immigration wasn't one of Friedman's areas of expertise, and he had never written a book or article about the subject. Even the greatest thinkers sometimes have poorly thought out views on issues they haven't studied carefully.

Whell’s dear leader, of course, wants to “send ‘em all back!” Foolish policy of a foolish man.

[Chicks]

Latest economic data cools recession worries
https://finance.yahoo.com/news/lates...141217185.html

You must feel pretty sheepish, eh Whell?