Slowing growth with surging inflation. Reminiscent of the Jimmy Carter era.
Stagflation here we come
- Thread starter MaitlandFloridaDawg
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Slowing growth with surging inflation. Reminiscent of the Jimmy Carter era.
A half gallon of ice cream must be down to about a quart now.
You can only fake it so long with government jobs and paper money equity from home equity loans. Now the real fun begins.
The other thing about these numbers I didn’t mention. Everytime numbers are released, two weeks later it turns out they were wrong in favor of the current administration. It is probably worse than what these are saying.
Yes, the revised numbers will likely not be favorable. The public has felt for a while that the economy is not as robust as reported. I trust what I see in the real world more than what I see in the news.
There are two economies. The S&P 500 economy, and everyone else. S&P companies are not interest rate sensitive like they used to be. Very little leverage and huge amounts of liquidity. They don't need debt, and they are rolling. The fact that our economy is so tech based now as well factors in.
The other economy is small business and folks on the low end. Much more affected by both interest rates and the cost of goods.
GDP numbers are a weighted average of economic activity. Bottom line is that a smaller percentage of companies and wealthier consumers are boosting the GDP numbers, making up for the fact that smaller businesses and less wealthy consumers are struggling - a larger percentage of the businesses in the country, and the population of consumers.
This tale of two economies is exactly why you see a disconnect in macro data (GDP, unemployment) and satisfaction with the economy.
I don’t disagree, but the administration has been trying to convince the public that the economy is strong. My argument is that if your income is flat and your costs are going up you aren’t going to be happy regardless of official GDP. Now they don’t even have strong GDP numbers to flaunt.
And smart politicians on their side are rightly telling Biden to top telling folks how good their economy is. It just pisses people off.
“A nickel is not worth a dime anymore”.
Why change now, it’s been that way from the start.
I think Biden did complain about the amount of chips in a bag recently.
He’s blaming the chip companies, crossing his fingers and hoping people believe him. He will probably be very close to Carter’s record breaking inflation by the time he finishes up.
Inflation is going nowhere with him in office, can’t imagine 4 more years of this shat.
Oh well, inflation is good 4 some, just not me.
Every week he pisses away $100B on some non-productive BS. Ukraine, Taiwan, student loans, climate crap. Printing money we don’t have. Dem voters need to wake up.
When they win elections they take it as a mandate that all the bullshit they talk about in their stylish NY/LA/DC parties is what the country wants. And then left to their echo chambers they proceed accordingly.
It is how Trump got elected in the first place and why he is dominating right now. They are soooooo smart they just know they are right. No matter what the deplorable 51 percent thinks. They need to save us from ourselves.
If Nikki Haley were running she might have won every State.
Don't yall know the economy is all Trumps fault and Joe is having to untangle the mess.
The only human who should have been excited about Biden was Jimmy Carter, who is now no longer #1 on the list of the worst presidents ever.
Not a Biden fan but Trump is not the right replacement at this time. He started inflation with his spending and then stimulus checks when there was no sign they were needed.
You would never get elected with this slogan but we need a president willing to inflict some pain.
You would never get elected with this slogan but we need a president willing to inflict some pain.
Wow. What has Biden done that makes you want him to continue this track we are on?
I am not a Trump fan but I can definitely choose him over Biden.
Fan of neither, Biden poured high octane on Trump's spending. But both are to blame for this mess. Cut spending first then raise taxes is the only way out IMHO. Neither will propose that.
Raising taxes won't work. We would raise more revenue by lowering taxes on the top tax brackets. Over-taxing the rich means they are not incentivized to put their money at risk. This is basic economics. The Laffer Curve isn't voodoo economics, it is common sense.
Well, Trump did everything he could to reduce regs that discouraged investment in American jobs. He actively lobbied for companies to build and or stay in the U.S. and he encouraged companies to return dollars to our shores that were parked in other countries for no other reason than avoiding double taxation. Trump sounds exactly like what we need today.
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Don't confuse me with a tax the rich democrat. I never mentioned tax the rich. Just like Reagan I am saying raise taxes on all incomes, cut spending and balance the budget. This will force people back in the labor market instead of running on free money. But you can't simply do one of those.
Reagan showed it works and it will work again before real pain comes.
Trump did some really good things. In a different period of time he would be a really good president. But given where we are now he's methods are harmful. Trump added 8.4 trillion dollars to the debt kick-starting the inflation we are experiencing today.
Trump had us on the right track until his presidency was hijacked by the the NIH. If Trump would have followed his instincts we would have come thru the pandemic much stronger. He would also have been savaged by those that had tried to torpedo his term from the day he was elected.
Right now we need someone that realizes we aren't going to tax our way to prosperity and I'd like to know who in the hell you think the next POTUS needs to inflict pain upon. The first thing we need is a POTUS that advocates for America and the American people. The next thing we need is someone that will expose just how corrupt our current government has become and how much of our treasure both sides skim and use for things not approved by our founding docs. We need someone that rocks the boat right now, not someone that wants to punish those doing what they are supposed to be doing and rewarding those that want rule over us.
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Agree with America first and pushing back and dealing with corruption. Those are all worthy. Again if we were in a different era he would be the right choice to deal with those issues. But he started the fiscal problem and haven't heard a good way out from him.
Look at conservative states that have remained financially sound with responsible tax and spend. Ga in great shape and our tax rate is not the smallest.
Trump's first stimulus was needed and unanimously voted for.
The second stiumuls was not, and was voted on a straight party line by the democrats thin majority at the time.
Nice try.
I do this for a living but it doesn't take a rocket scientist to understand when you pay people $3T not to work in a booming economy that's going to cause or start inflation. And let's not forget who supported and recommended the shut downs by they way. Add in the $8.4T in deficit spending in a booming economy and that's simple concept to understand. Even right leaning economist agree it's where the inflation started but you can keep arguing.
For argument sake let's say I am right. Course correction is to take money out of the economy, plain and simple. Is Trump willing to do that? If so I would support him but everything he's done and is about tells me he wouldn't do it. Could be wrong about that last statement and if he gets in and proves me wrong he could be up there with Reagan.
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I wouldn't say the first stimulus wasn't paying people not to work but paying people you prohibited from doing their jobs and running their businesses. All the various stimulus/payroll protection programs were needed in order to make sure people had jobs that would be there when the supposedly short shutdown period ended. Of course, like any time government decides to spend money it became a boondoogle.
The second stimulus was nothing more than unnecessary give aways that stimulated little other than inflation. Anyway, it's tough for me to criticize Trump's performance in 2019/2020 when every semi permanent resident of DC was either wrong about covid policy or trying to use it to sabotage a presidency.
Plus the shutdown policies in blue states continued to artificially restrict labor and goods supply well into 2021.
Hope he gets the correct advice this time. He was listening to some people who were trying to get him thrown out of office. The little midget was one of them, can’t remember his name.
He is a better replacement than what we have. He just needs to appoint some people that is loyal to him and knows what needs to be done for the economy. Last time he trusted the wrong people, some of them were part of the swamp.
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