The Biden Economy

[Chicks]

To save US democracy, tax the rich at 90%
https://www.rawstory.com/amp/2660878366-2660878366

[Chicks]

The case for a 2023 US recession is crumbling
https://www.cnn.com/2023/06/05/econo...ces/index.html

Many CEOs, investors and economists had penciled in 2023 as the year when a recession would hit the American economy.

The thinking was that the US economy would grind to a halt because the Federal Reserve was effectively slamming the brakes to squash inflation. Businesses would lay off workers and inflation-weary Americans would slash spending.

But the case for a 2023 US recession is crumbling for a simple reason: America’s jobs market is way too strong.

Oops, there goes your narrative, Whell. Sorry!

[whell]

Originally Posted by Chicks

The case for a 2023 US recession is crumbling
https://www.cnn.com/2023/06/05/econo...ces/index.html

Oops, there goes your narrative, Whell. Sorry!

Wrong again Chickie. It's not my narrative.

https://www.conference-board.org/res...on-Probability

[Chicks]

Wall Street’s biggest bull called this year’s stock market rally—now instead of a recession, he says ‘the economy is actually slipping into an expansion’
https://fortune.com/2023/06/13/wall-...n-tom-lee/amp/

Whell’s pals in Congress are desperate to slow this down before the next elections, of course. We can’t have voters giddy over their 401K gains!

[Chicks]

US economic growth last quarter is revised up sharply to a 2% annual rate
https://finance.yahoo.com/news/us-ec...tsrc=fin-notif

Thursday's report on the nation's gross domestic product — the total output of goods and services — showed why the economy has so far managed to defy expectations of a coming recession: Consumers continue to spend despite ever-rising borrowing costs. Their spending, which fuels about 70% of the economy, rose at a 4.2% annual rate in the January-March quarter, the most since April-June 2021.

Oops again! Sorry Whell, you're still a loser!

[finnbow]

Under Biden's leadership, the US economy has far outperformed all other First World industrialized democracies in recovering from the pandemic.

[RickeyM]

Originally Posted by Chicks

US economic growth last quarter is revised up sharply to a 2% annual rate
https://finance.yahoo.com/news/us-ec...tsrc=fin-notif

Oops again! Sorry Whell, you're still a loser!

But-but-but FAUX snooze says Biden's driving us into a recession. They wouldn't lie to us now would they?

[Chicks]

Fox Host Breaks Down Joe Biden's 'Tremendous' Economic Record To Stunned Silence Of Co-Hosts
Fox's 'The Five' co-host Jessica Tarlov spent a solid minute and a half listing Joe Biden's incredible economic record and her co-hosts just sat there silently.
https://secondnexus.com/fox-tarlov-b...conomic-record

Too bad our resident MAGAMoron is so full of hate for Biden, he’ll never admit to this incredible economic accomplishment.

[whell]

Originally Posted by Chicks

Fox Host Breaks Down Joe Biden's 'Tremendous' Economic Record To Stunned Silence Of Co-Hosts
Fox's 'The Five' co-host Jessica Tarlov spent a solid minute and a half listing Joe Biden's incredible economic record and her co-hosts just sat there silently.
https://secondnexus.com/fox-tarlov-b...conomic-record

Too bad our resident MAGAMoron is so full of hate for Biden, he’ll never admit to this incredible economic accomplishment.

Chicket, you accuse others of "hate" because you're so full of it yourself that to you hate probably seems normal. You don't know me, so you have no idea what I think about Biden.

That said, to deny that some areas of the economy are performing well would be stupid. For Tarlov to credit Biden for those areas' solid economic activity - and further to call the economy as a whole "thriving" - is a gross exaggeration.

For example, if the economy as a whole is "thriving", why is the Fed still saying they expect 2 additional interest rate hikes this year? If the economy is thriving, what's with all the layoffs that have happened in 2023, which are not just limited to the tech industry. In fact, some economists did suggest that early 2023 would be growth-oriented but followed by a significant decline.

Unlike you, Chickie, I don't limit myself to ingesting the somewhat biased opinions from left-oriented journalists. If you want to do that, fine. I hope it works out for you.

In the meantime, our family will continue, as always, to be careful with our expenditures and postpose any large non-essential spending. Because unlike you and Ms. Tarlov, I don't see much of a consensus out there at all that the economy overall is "thriving".

In fact, most of the opinions I see are all over the place. There are always going to be economic forecasters who seek attention by predicting doom and gloom. I tend to take notice when I see what I'm seeing right now: there's not much consensus from anyone on what the economy is going to look like in the near future.

[Dondilion]

Originally Posted by whell

Chicket, you accuse others of "hate" because you're so full of it yourself that to you hate probably seems normal. You don't know me, so you have no idea what I think about Biden.

That said, to deny that some areas of the economy are performing well would be stupid. For Tarlov to credit Biden for those areas' solid economic activity - and further to call the economy as a whole "thriving" - is a gross exaggeration.

For example, if the economy as a whole is "thriving", why is the Fed still saying they expect 2 additional interest rate hikes this year? If the economy is thriving, what's with all the layoffs that have happened in 2023, which are not just limited to the tech industry. In fact, some economists

In fact, most of the opinions I see are all over the place. There are always going to be economic forecasters who seek attention by predicting doom and gloom. I tend to take notice when I see what I'm seeing right now: there's not much consensus from anyone on what the economy is going to look like in the near future.

The economy seems to be extremely resilient and those that follow doom and gloom I believe are going to rue that they stayed on the sidelines.

I am yet to have a full assessment of Biden's "Reshoring" initiatives but so far they look promising.

Re rate hikes: I sense the objective is not to stifle the economy but to accept a higher rate (say 4%) than the stated aim of 2%.