Jump to content

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


Recommended Posts

You can’t stop Joe Biden’s economy, you can only hope to contain it 

6 minutes ago, Tommy Callahan said:

ITS GDP. did you even graduate High school?

 

Higher inflation will drive GDP up, till it doesnt.

 

 

 

Consumer confidence is the metric you think GDP is.

 

and its Not good.

 

https://www.fxstreet.com/news/us-uom-consumer-confidence-index-declines-to-63-in-october-vs-674-expected-202310131406

 

 


Real wages are higher than prepandemic. People simply keep buying stuff. 

  • Disagree 1
Link to comment
Share on other sites

 

 

Who could have guessed that using the president's own name to brand the current economic malaise was a bad idea? 

 

 

To sum up the numbers, only 150,000 jobs were added in October. Of those, only 99,000 were in the private sector, once again showing that government spending is the only thing propping up what little is left of the economy. 

 

As to those "better than expected" numbers in August and September? They've been revised down by 101,000 jobs, the type of revision that has become all too common during the Biden administration. Overall, the unemployment rate rose to 3.9 percent, with thousands of manufacturing jobs being lost in the process

 

 

https://redstate.com/bonchie/2023/11/03/bidenomics-chickens-come-home-to-roost-and-the-spin-is-hilarious-n2165851

  • Thank you (+1) 1
Link to comment
Share on other sites

To get a sense of just how manipulate the Establishment survey is, look no further than the divergence with the Household survey. It is safe to say that never in US history have payroll numbers been manipulated more.

 

 

https://cms.zerohedge.com/s3/files/inline-images/household vs establishment_1.jpg?itok=EB_svpDl

  • Like (+1) 1
  • Thank you (+1) 1
Link to comment
Share on other sites

  • 2 weeks later...

Info on Moody's downgrade from a few days ago.  As a reminder Fitch issued a downgraded back in August.

 

Why Moody's Cut Its Outlook for the US Economy

 

KEY TAKEAWAYS

Moody's credit rating agency has downgraded the U.S. economic outlook to "negative" from "stable."

The move brought immediate criticism from President Joe Biden's administration.

It is the latest in a series of issues flagged by rating agencies about the strength of the financial status of the United States.

 

  • Like (+1) 1
Link to comment
Share on other sites

21 minutes ago, Precision said:

Info on Moody's downgrade from a few days ago.  As a reminder Fitch issued a downgraded back in August.

 

Why Moody's Cut Its Outlook for the US Economy

 

KEY TAKEAWAYS

Moody's credit rating agency has downgraded the U.S. economic outlook to "negative" from "stable."

The move brought immediate criticism from President Joe Biden's administration.

It is the latest in a series of issues flagged by rating agencies about the strength of the financial status of the United States.

 

Gonna have to raise some taxes 

  • Like (+1) 1
  • Eyeroll 1
Link to comment
Share on other sites

11 minutes ago, Tiberius said:

Gonna have to raise some taxes 

Near record high federal receipts.

 

and the reasoning per Moody's  is the out-of-control spending coupled with our debt sales not having much interest. 

 

https://fred.stlouisfed.org/series/FGRECPT

 

 

 

 

Edited by Tommy Callahan
  • Like (+1) 1
Link to comment
Share on other sites

 

https://www.cnbc.com/2023/11/14/cpi-inflation-report-october-2023.html.   :thumbsup:

The consumer price index, which measures a broad basket of commonly used goods and services, was flat in October from the previous month but increased 3.2% from a year ago. Both were below Wall Street estimates.

Excluding volatile food and energy prices, core CPI rose 0.2% and 4%, against the forecast of 0.3% and 4.1%. The annual rate was the smallest increase since September 2021.

The flat reading on headline CPI came as energy prices declined 2.5% for the month, offsetting a 0.3% increase in the food index.

  • Eyeroll 1
Link to comment
Share on other sites

×
×
  • Create New...