Biden is doing a great job with the economy

Author: Vegasgiants

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#1
Vegasgiants
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yahoo!finance reports, "Stocks climbed Thursday, after fresh data underscored the resilience of the US economy in the face of the Federal Reserve's interest-rate hikes.

"A sharp upward revision to second-quarter GDP and a fall in jobless claims on Thursday echoed recent releases reflecting strength in the economy, seen as providing scope for the Fed to keep raising rates."

17 days later

#2
Greyparrot
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2 percent...Almost keeping up with 3 percent inflation...but it isn't Everyone is losing real wealth. At least Biden isn't making a bad economy much worse, only a little worse.

11 days later

#3
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US credit rating has been downgraded in 2023 by Fitch.

Is that because "Biden is doing a great job with the economy"?


25 days later

#4
Redpilled
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Facts. Cost of living in relation to average salary has never been higher.
#5
Best.Korea
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Hey, at least he didnt cause 10 trillion more debt 😀

10 days later

#6
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@Best.Korea
No, He just printed 10 trillion dollars and now everything costs more.
#7
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@Best.Korea
In the United States, inflation of the money supply is primarily created through the actions of the Federal Reserve, which is the country's central bank. The Federal Reserve uses several tools and mechanisms to influence the money supply, and these actions can contribute to inflation when they result in an increase in the quantity of money circulating in the economy. Here's how this process typically works:

  1. Open Market Operations: The Federal Reserve conducts open market operations by buying or selling U.S. government securities (typically Treasury bonds) in the open market. When the Fed buys securities, it pays for them by crediting the reserve accounts of banks with the Federal Reserve. As a result, banks have more reserves available for lending, and they can create new money by extending loans to businesses and consumers. This increases the money supply.
  2. Discount Rate: The Federal Reserve sets the discount rate, which is the interest rate at which banks can borrow funds from the Fed. When the Fed lowers the discount rate, it makes it cheaper for banks to borrow money. Lower borrowing costs encourage banks to lend more, which can lead to an increase in the money supply as loans are created.
  3. Reserve Requirements: The Federal Reserve establishes reserve requirements, which are the minimum amounts of funds that banks must hold in reserve against their deposits. When the Fed lowers reserve requirements, banks are required to hold less money in reserve, freeing up more funds for lending and potentially expanding the money supply.
  4. Quantitative Easing (QE): During periods of economic crisis or when conventional monetary policy tools are insufficient, the Federal Reserve may engage in quantitative easing (QE). QE involves the purchase of various financial assets, including government and mortgage-backed securities. These asset purchases inject new money into the banking system, which can lead to an increase in the money supply as banks use these funds for lending and investment.
  5. Forward Guidance: The Federal Reserve provides forward guidance by communicating its intentions regarding future monetary policy. This can influence market expectations and impact lending and borrowing decisions. For example, if the Fed indicates that it plans to keep interest rates low for an extended period, it can encourage borrowing and lending, contributing to money supply growth.
  6. Fiscal Policy: While fiscal policy is primarily the responsibility of the U.S. government (Congress and the President), government actions related to taxation and spending can also influence the money supply. When the government engages in deficit spending, it issues new Treasury bonds to finance the deficit. These bonds can be purchased by banks and other investors, injecting new money into the economy and expanding the money supply.



#8
FLRW
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To save the USA, we need to go back to Ike's 92 percent top tax rate.
#9
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@FLRW
And send 90% of that to the Ukraine.
#10
zedvictor4
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@Greyparrot
Hey.

Just keep spending.

And borrow some more.

It's all just numbers or bits of paper.

Missiles, buy 1 get a hundred free.

Cost of living high...Just cut back on the fancier stuff, like cosmetic dentistry, therapists and gadgets.

Who needs to be thinking straight with a perfect smile and a top of the range device, when the nuke hits.

Just grin for a second and your teeth will shine like the sun.
#11
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@zedvictor4
yes
#12
FLRW
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@zedvictor4


     no
#13
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@Greyparrot
@FLRW
Divided opinions.
#14
ebuc
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@zedvictor4
Divided opinions.
No  unification no longer term survival for humanity.

i'm surprised there is not ongoing gambling odds on when humans nuke themselves into apocalypse.

I agree with Zed, economic is just a paper trail game to be manipulated by corporations { rich people } and governmental  lobbyists.  Old news.

..." Keep in mind that the following are annualized probabilities. For a child born today (say 75 year life expectancy) these probabilities (.0117) suggest that the chance of a nuclear war in their lifetime is nearly 60%, (1-(1-.0117)^75). At an annualized probability of .009 which is the probability from accident analysis it’s approximately 50%. See Rodriguez and also Shlosser’s Command and Control on the frightening number of near misses including one nuclear weapon dropped on North Carolina.
These lifetime numbers don’t strike me as crazy, just crazy high. Here is Rodriguez summarizing: "..

48 days later

#15
Truth_Over_Proof
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This thread is the DUMBEST thing ever. GDP rising 4.9% like we are seeing under Biden is NOT impressive when compared to the ENORMOUS growth we had in the good days under TRUMP. Huge cope to think that a 5% GDP increase is anything to brag about.
#16
FLRW
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@Truth_Over_Proof

OMG, are you Don Jr. ?
#17
sadolite
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@FLRW
"To save the USA, we need to go back to Ike's 92 percent top tax rate."   Pfff we as a country are so far  beyond paying down debt with actual tax revenue its laughable.   A 92% tax rate wouldn't even come close to cover the 51% of govt spending that is all barrowed every single year on the backs of people who haven't even been born yet. 
#18
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@sadolite

Well, when the Yuan becomes the World currency the USA will collapse.
#19
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@FLRW
There is no doubt the US dollar will collapse no matter what. The barrowing is unsustainable at this level and only increases every year. The value of the US dollar is based on nothing and completely artificial. In a real  world economics it should have collapsed decades ago.
#20
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@sadolite

Since taxpayers will ultimately be responsible for both the $31 trillion federal debt and $163 trillion Social Security and Medicare unfunded liabilities, the present value of those two combined is about $572,000 for every man, woman and child in America — all 330 million of them.
#21
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@FLRW
Eh, no. The dollar will collapse and the govt will default on all its debts and obligations causing a great depression that will make 1929 look like a day in the park. Everyone will have all of their savings and wealth wiped out over night. Everything will become worthless until a new financial correction establishes the true value of everything. It will take decades. All who own, will keep what they own. All who owe will lose what they owe on if they cant pay because they lost everything and have no job anymore. The suffering will be epic and the rioting and looting will be even more epic. Buy a gun if you don't have one. Govt will restrict all sales once the shit hits the fan.
#22
FLRW
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@sadolite

I spent a lot of time in Diego Garcia. I am an expert marksman.