The Biden Economy

[Chicks]

White House projects record drop in budget deficit
Administration officials touted the president's policies for speeding up the economy recovery and shrinking the budget gap.

https://www.google.com/amp/s/www.pol...ficit-00053340

Gee, the largest drop in the deficit ever. How will Faux “News” spin this excellent news for you MAGAMorons, Whell?

[Dondilion]

Fed Chairman said that price stability is his priority.

[bobabode]

Originally Posted by Dondilion

Fed Chairman said that price stability is his priority.

Sounds good. Groceries are getting expensive.

[Rajoo]

Holy shit, we are all screwed.

The Radical Democrat Soshialist Biden Economy is at it again, adding jobs 20 months in a row. WTF is wrong with Biden? Is he still sleeping at the wheel? Wake him up and lets have a round of tax cuts to stop our economy from growing.

U.S. economy hits 20-month streak in strong job growth despite inflation

The labor market has more than recovered pandemic job losses, according to new data released by the Bureau of Labor Statistics, powering an economy through ominously high inflation.

https://www.washingtonpost.com/?relo...=1662132908823

Or is this all Fake News from WaPo, lying bunch of Soshialist Liberals.

[bobabode]

Originally Posted by Rajoo

Holy shit, we are all screwed.

The Radical Democrat Soshialist Biden Economy is at it again, adding jobs 20 months in a row. WTF is wrong with Biden? Is he still sleeping at the wheel? Wake him up and lets have a round of tax cuts to stop our economy from growing.

U.S. economy hits 20-month streak in strong job growth despite inflation



https://www.washingtonpost.com/?relo...=1662132908823

Or is this all Fake News from WaPo, lying bunch of Soshialist Liberals.

Love this paragraph.
"The tight labor market, combined with inflation at 40-year highs, has also fostered an environment ripe for union activity, as workers struggling to pay for gas, food and housing have more power to make collective demands of employers facing widespread labor shortages. The National Labor Relations Board has reported a 56 percent uptick in petitions for union elections in the first nine months of fiscal year 2022 compared with the prior year." WP

Buy Union made!

[whell]

https://www.conference-board.org/research/us-forecast

While we do not believe the US economy is currently in recession - due to strength in a number of sectors and the extremely tight labor market – we expect that a broad downturn in the economy is on its way. Given the greater-than-expected weakness seen in Q2 2022 GDP data we are downgrading our Q3 2022 forecast from 0.5 percent (QoQ, SAAR) to zero percent. This downgrade is associated with our expectation that consumption will continue to soften in the third quarter due to rapidly rising interest rates and elevated inflation. Furthermore, we expect both residential and nonresidential investment to contract, and private inventory expansion to continue to slow.

The weakening economic growth seen over the course of 2022 coupled with persistently high inflation readings are consistent with a stagflationary environment. While easing supply-side constraints and a more hawkish monetary policy will help to cool inflation over the coming quarters, rising interest rates will tip the US economy into a broad-based recession before year-end. This contraction will impact extremely tight labor markets and drive the unemployment rate higher. We expect the coming recession to be relatively short and somewhat mild, but that the US economy will emerge from the slowdown in 2023 still grappling with inflation well above the Fed’s 2-percent target. This period will also exhibit stagflationary characteristics – though not as severe as those seen presently.

[Chicks]

Stronger than expected momentum in the Biden economy just made Bank of America revise its recession forecast

https://fortune.com/2022/09/09/bank-...biden-economy/

After two consecutive quarters of negative GDP growth, Bank of America said the third quarter will show a 1.1% quarter-over-quarter rise in GDP, owing in large part to a “substantial narrowing in the trade deficit.” They’re also expecting “solid gains in real consumer spending in August” as a result of the 12% drop in gas prices last month and “softer than expected” inflation data.

“Taking these and other signals into account, we have revised our outlook for the U.S. economy in favor of a prolonged expansion, more tightening from the Federal Reserve, and a later downturn in labor markets,” Gapen and his team wrote.

Bad news for idiot MAGAMorons. Great news for sensible folks.

[RickeyM]

The MAGA's will just deny reality and cry FAKE NEWS!

[Rajoo]

That damn Radical Soshialist Sleepy Joe Biden is at it again screwing around with our economy. Garnish his wages, take away his expense account, lock up Camp David and hold his feet to the fire.

Want to know why? He's done it again. President Biden, you should take up golf like TFG and ruin our economy, but don't steal any classified documents, that could get you in real trouble.

Easing inflation, lower gas prices boost U.S. consumer sentiment

After months of gloom, Americans are finally starting to feel better about the economy and more resigned to inflation.

Consumer sentiment, which hit rock bottom in June, has begun inching up in recent weeks. Gas prices are down. Decades-high inflation appears to be easing. And at the same time, Americans are making small changes — buying meat in bulk, for example, or shifting more of their shopping to discount chains — suggesting that many families are learning to deal with higher prices.

Thank you President Biden. Its been a difficult year for small businesses, wages rising and cost of materials through the roof due to a clogged supply chain and the usual gouging.

https://www.washingtonpost.com/busin...on-gas-prices/

PS: I am resorting to sarcasm because I am sick and tired of the wingnuts dumping on Biden for the inflation he had no control over.

[Chicks]

Micron exec: New Idaho semiconductor factory ‘not possible without’ CHIPS Act

https://uk.finance.yahoo.com/video/m...144319393.html

$15B factory. A big deal.

Unlike this one: Remember when the village idiot was touting Donny's "vote of confidence" from the Ford CEO? Didn't pan out, of course - he was soon shown how idiotic his thread was, and never returned to it. http://politicalchat.org/showthread.php?t=11307 ROFL.