Biden creates an economic crisis--Unemployment, Inflation, risk of STAGLFATION increasing

[Irv]

12 minutes ago, B-Man said:

 

 

 

What a mess.  This dope is crushing the middle class with his (or whoever is in charge) idiotic policies.  

[Tommy Callahan]

On 9/19/2023 at 3:28 PM, The Frankish Reich said:

Federal payments to poor people stopped. Which is obviously what you wanted.

you mean when Pelosi traded them for Salt Deductions. 

 

LMAO

[Tiberius]

Dude, where's the stagflation MAGA promised was coming? 

[Irv]

Economy is in a horrible mess.  High gas prices, awful interest rates, housing starts down, food prices out-of-control, bankruptcy's up, consumer confidence at all-time lows.  What a mess.    

[The Frankish Reich]

1 hour ago, Irv said:

consumer confidence at all-time lows

[B-Man]

 

 

WHITE HOUSE PRESS SECRETARY CAUGHT IN HUGE LIE ABOUT ‘BIDENOMICS:’ KJP:

 

“This President has been so zeroed in, so laser-focused, on lowering costs for Americans — and we’ve done that!”

 

There’s no way to describe this statement as anything other than a lie. It is flatly untrue that the Biden administration has “lowered costs for Americans.”

 

As of September 2023, prices were up by the following amounts since Biden took office, according to data from the Bureau of Labor Statistics:

 

 

https://www.based-politics.com/2023/09/26/white-house-press-secretary-caught-in-huge-lie-about-bidenomics/

 

https://www.republicanleader.senate.gov/newsroom/research/who-are-americans-going-to-believe-their-huge-grocery-bills-or-the-white-houses-insulting-bidenomics-pitches

 

 

[Tommy Callahan]

The folks on the bottom/working classes have been directly feeling this crap economy for a while now.  

 

Now the voices talk about a recession in 2024? 

 

the definition of a recession no longer fits.

 

 

[Over 29 years of fanhood]

On 9/25/2023 at 9:21 AM, B-Man said:

 

 

 

 

that’s an incredible number. Price inflation and loan rates skyrocketing more than double the metric overnight.  You’d expect an Impact existing homes sales, but I haven’t heard anyone screaming about it.

 

[The Frankish Reich]

On 9/25/2023 at 7:21 AM, B-Man said:

 

 

 

 

It is almost as if more than a decade of loose money coupled with a moratorium on student loan repayments and other things caused a huge run-up in housing prices. 
We demand a bubble!!!

https://www.theonion.com/recession-plagued-nation-demands-new-bubble-to-invest-i-1819569940

[B-Man]

 

 

Everything is fine.

 

 

 

[B-Man]

 

 

 

[Tommy Callahan]

It's kind of hard to imagine what's coming. 

 

The voices keep calling this Biden omics failure, an accomplishment.

 

When its smacking the poor, working and middle class in the face.

 

then what the heck will it look like when the actual recession hits?

 

 

 

 

[B-Man]

 

 

Under Biden, Bankruptcies Are Rising For The First Time In Over 13 Years. Here’s Why

by Will Kessler

 

Bankruptcies are rising for the first time in years as more Americans feel the pressure of declining economic conditions without the reprieve of President Joe Biden’s COVID-19 pandemic-era aid programs. Americans filed more than 39,000 personal bankruptcy cases in August 2023, up 18% year-over-year, with bankruptcies beginning to spike after reaching record lows in 2021 and 2022, with the number of filings rising for all chapters for the first time year-over-year since 2010, according to data from the U.S. Courts. The number of bankruptcies is rising as Americans are increasingly burdened by high interest rates and falling real wages

 

https://dailycaller.com/2023/09/29/biden-bankruptices-inflation-pandemic/

 

 

 

.

[B-Man]

 

 

NEVER UNDERESTIMATE JOE’S ABILITY TO F*** THINGS UP: 

 

America’s emergency oil reserve is at a 40-year low — and that could inflate oil prices, Goldman Sachs says.

 

America’s emergency oil stockpile has plunged to 40-year lows. The shrinking Strategic Petroleum Reserve is limiting Washington’s ability to shield consumers from the fallout of Saudi Arabia’s aggressive supply cuts, according to Goldman Sachs.

 

“At this point, US energy policy has fewer bullets left. It has less levers left in its policy toolkit,” Daan Struyven, head of oil research at Goldman Sachs, told CNN in a phone interview.

 

That’s one reason Goldman Sachs expects oil prices to stay high, averaging $100 a barrel this time next year. Triple-digit oil would boost already-high prices at the pump, worsening inflation and potentially influencing the 2024 race for the White House.

 

To cushion the blow from the war in Ukraine, the Biden administration has released vast amounts of oil from the SPR, the underground series of storage tanks along the Gulf Coast that contains emergency oil.

 

Industry veterans say that strategy helped mitigate the hit to consumers as gasoline prices plunged after hitting $5.02 a gallon in June 2022.

 

But the SPR, which acts as a rainy-day fund that presidents can tap during times of war or natural disaster, is down by about 270 million barrels over the past two years to the lowest level since August 1983.

 

https://www.cnn.com/2023/09/27/business/oil-prices-gas-goldman-sachs-spr-saudi-arabia-aramco/index.html

 

 

 

 

.

[Irv]

On 9/26/2023 at 10:53 AM, The Frankish Reich said:

 

Gee.  Who was the President during the all-time high?   On another note, I think Bidenomics is working.  I’ve gotten so use to paying $4.50 per gallon, I don’t even think about it anymore.   

[Doc]

4 hours ago, Irv said:

Gee.  Who was the President during the all-time high?   On another note, I think Bidenomics is working.  I’ve gotten so use to paying $4.50 per gallon, I don’t even think about it anymore.   

 

That's what they're counting on.

[B-Man]

 

 

LIKE OUR WALLETS:  

 

The “Bidenomics” Pitch Falls Flat.

 

Never tell people they should be happy when they’re not.

 

 

https://www.liberalpatriot.com/p/the-bidenomics-pitch-falls-flat

 

.

[B-Man]

 

 

 

IT’S ALL JOE BIDEN HAS. SAD AS IT IS:  

 

For millions, ‘Bidenomics’ is a painful joke. Joe Biden loves it.

 

 

https://www.washingtonexaminer.com/opinion/for-millions-bidenomics-is-a-painful-joke-joe-biden-loves-it

 

 

.

[Doc]

Why does he care?  He's got millions stashed in off-shore accounts...

[The Frankish Reich]

Revealed preferences. If you are scared about losing your job, about not being able to make ends meet, you don't splurge on vacations and Taylor Swift tickets.

Watch what people do, not what they say.

 

https://www.wsj.com/economy/consumers/americans-are-still-spending-like-theres-no-tomorrow-6a1d307?mod=hp_lead_pos2

 

Interest rates are up. Inflation remains high. Pandemic savings have shrunk. And the labor market is cooling.  

Yet household spending, the primary driver of the nation’s economic growth, remains robust. Americans spent 5.8% more in August than a year earlier, well outstripping less than 4% inflation. And the experience economy boomed this summer, with 

Delta Air Lines

 reporting record revenue in the second quarter and Ticketmaster selling over 295 million event tickets in the first six months of 2023, up nearly 18% year-over-year. 

Economists and financial advisers say consumers putting short-term needs and goals above long-term ones is normal. Still, this moment is different, they say. 

A tough housing market has more consumers writing off something they’d historically save for, while the pandemic showed the instability of any long-term plans related to health, work or day-to-day life. So, they are spending on once-in-a-lifetime experiences because they worry they may not be able to do them later.