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The Biden Boom: Biden's Economy Has the Best Growth Record Since 1969

BillStime

By BillStime
in Politics, Polls, and Pundits

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Roundybout
Roundybout

Brandon cares not for your malarkey. He’s completely fixed the mess Trump left us in. 

Irv
Irv

This whole Bidenomics is laughable.  Coming out of the pandemic, we should have bounced back 10X what has happened.  More lies.  ***** gas prices going back up $4/gallon.  You've got to a complete mor

L Ron Burgundy
L Ron Burgundy

The best comparison is that many want what a large chunk of Europe does.  More taxes for a lot more benefits like universal Healthcare.   It's a huge stretch to call them socialist.   You know it.  Su

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All_Pro_Bills All Pro

All_Pro_Bills

Posted
Posted
  On 3/25/2024 at 7:24 PM, BillStime said:

 

Yeah, that's cute and all. Reminds me what the polls told us about 2022 midterm elections.

 

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What it reminds you of is not a concern.  The numbers are the numbers.  If you think they're wrong or the methodology is defective, please explain.

BillStime Hall of Famer

BillStime

Posted
  • Author
Posted
  On 3/25/2024 at 8:09 PM, All_Pro_Bills said:

What it reminds you of is not a concern.  The numbers are the numbers.  If you think they're wrong or the methodology is defective, please explain.

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Yup, I know. Meanwhile: Consumer Sentiment is up 23.39% from one year ago.

Tommy Callahan All Pro

Tommy Callahan

Posted
Posted

130 debts to DGP ratio is amazing, we should shoot for 200%

 

Record high credit card debt.

 

Largest federal expense just became the debt.  

 

Delinquencies rising.

 

residential and commercial real estate bubble.

 

unemployment looking good due to the southeast and upper Midwest pulling the average down.  its over target in much of the country.  

 

https://www.bls.gov/charts/state-employment-and-unemployment/state-unemployment-rates-map.htm

 

 

 

 

 

 

 

 

 

 

 

 

  • Shocked 1
The Frankish Reich Hall of Famer

The Frankish Reich

Posted
Posted
  On 3/26/2024 at 4:18 PM, Tommy Callahan said:

130 debts to DGP ratio is amazing, we should shoot for 200%

 

Record high credit card debt.

 

Largest federal expense just became the debt.  

 

Delinquencies rising.

 

residential and commercial real estate bubble.

 

unemployment looking good due to the southeast and upper Midwest pulling the average down.  its over target in much of the country.  

 

https://www.bls.gov/charts/state-employment-and-unemployment/state-unemployment-rates-map.htm

 

 

 

 

 

 

 

 

 

 

 

 

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Everything you point to here is consistent with one thing: we are in an economic growth cycle.

It's fine to say that that's not sustainable, that the economy is overheated and will inevitably result in a correction/recession, etc.

But think about what that means: it means that the economy is strong now. It means that the Biden economy is strong. Why can't you admit that? 

Tommy Callahan All Pro

Tommy Callahan

Posted
Posted
  On 3/26/2024 at 4:22 PM, The Frankish Reich said:

Everything you point to here is consistent with one thing: we are in an economic growth cycle.

It's fine to say that that's not sustainable, that the economy is overheated and will inevitably result in a correction/recession, etc.

But think about what that means: it means that the economy is strong now. It means that the Biden economy is strong. Why can't you admit that? 

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Its so strong the poor, middle and fixed are suffering.

 

but the investor class is doing great.

 

If it's so strong, the fed would be talking about raising rates. Not cutting 2-3 times this year.  

 

 

 

 

Tommy Callahan All Pro

Tommy Callahan

Posted
Posted
  On 3/26/2024 at 4:32 PM, The Frankish Reich said:

The Fed: we thought growth would be slowing and we could cut 25 basis points in March. We were wrong. So maybe later.

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if the economy was on fire as you're stating. there wouldn't be a discussion about lowering it. . it would be to raise rates or stay the same.

 

 

 

 

 

 

All_Pro_Bills All Pro

All_Pro_Bills

Posted
Posted (edited)
  On 3/26/2024 at 4:22 PM, The Frankish Reich said:

Everything you point to here is consistent with one thing: we are in an economic growth cycle.

It's fine to say that that's not sustainable, that the economy is overheated and will inevitably result in a correction/recession, etc.

But think about what that means: it means that the economy is strong now. It means that the Biden economy is strong. Why can't you admit that? 

Expand  

A country's currency does not lose 20% of its value in a growth cycle unless that growth is purely of a nominal nature fueled by inflation.  Add in massive government spending and deficits to fuel consumption and social assistance that provide little to no long term value and I think that's what we've got here.  You can't borrow yourself to prosperity while digging your own financial grave by carrying massive debts which have become your biggest recurring expense.  

Edited by All_Pro_Bills
  • Agree 2
The Frankish Reich Hall of Famer

The Frankish Reich

Posted
Posted
  On 3/27/2024 at 1:23 PM, All_Pro_Bills said:

A country's currency does not lose 20% of its value in a growth cycle unless that growth is purely of a nominal nature fueled by inflation.  Add in massive government spending and deficits to fuel consumption and social assistance that provide little to no long term value and I think that's what we've got here.  You can't borrow yourself to prosperity while digging your own financial grave by carrying massive debts which have become your biggest recurring expense.  

Expand  

As far as the U.S. dollar value goes relative to other major world currencies (the DXY):

- up 7.46% over 6 years

- up 1.63% over the last year

Everyone's all worked up into a lather about China. So the dollar has tanked vs. the Chinese yuan during the Biden presidency, right?

Wrong.

Up about 12% vs. the yuan in the last 3 years.

The Frankish Reich Hall of Famer

The Frankish Reich

Posted
Posted

And Japan must be kicking the dollar's ass too. I keep reading about their economic recovery.

No.

https://www.wsj.com/finance/currencies/yen-hits-34-year-low-as-hopes-for-boj-rate-increases-fade-d3d0da2d?mod=hp_lead_pos3

 

If anything, all of this suggests the dollar is too strong, making imports cheaper. Devaluing the dollar would fix that, but that typically means keeping interest rates low or even lowering them.

All_Pro_Bills All Pro

All_Pro_Bills

Posted
Posted (edited)
  On 3/27/2024 at 1:33 PM, The Frankish Reich said:

As far as the U.S. dollar value goes relative to other major world currencies (the DXY):

- up 7.46% over 6 years

- up 1.63% over the last year

Everyone's all worked up into a lather about China. So the dollar has tanked vs. the Chinese yuan during the Biden presidency, right?

Wrong.

Up about 12% vs. the yuan in the last 3 years.

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I prefer a comparison monetary authorities reference which is a currency vs. spot gold which is hovering around $2,200/oz at the moment.  Central banks have been loading up on the metal for a couple years now and that gives a clue as to where they see value and safety in allocating their reserves.

Edited by All_Pro_Bills
The Frankish Reich Hall of Famer

The Frankish Reich

Posted
Posted
  On 3/27/2024 at 1:43 PM, All_Pro_Bills said:

I prefer a comparison monetary authorities reference which is a currency vs. spot gold which is hovering around $2,200/oz at the moment.  Central banks have been loading up on the metal for a couple years now and that gives a clue as to where they see value and safety in allocating their reserves.

Expand  

True. Their are mixed signals in the markets since gold is typically just a hedge against inflation.

But my point is that relative to basically all other world economies, the U.S. finds itself in first place. That ain't nuthin

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