The Biden Economy

[whell]

Originally Posted by Chicks

Wall Street buys into Bidenomics, with the top economists at Goldman and other banks saying we could really dodge a recession
https://fortune.com/2023/07/05/reces...ckle-down/amp/

A clear win for Biden, as always a big loss for ignorant MAGAMorons.

I'm happy for you that the Democrat donors on Wall Street are feeling good.

[finnbow]

Originally Posted by whell

I'm happy for you that the Democrat donors on Wall Street are feeling good.

Wall Street donors give to both sides, though they have admittedly soured on Trump's fascism and incompetence.

[whell]

Originally Posted by finnbow

Wall Street donors give to both sides, though they have admittedly soured on Trump's fascism and incompetence.

The two named at the top of the article, particularly JPM Chase's Dimon, is a big Dem donor. Goldman Sach's Solomon spreads it around a bit more, but most of it goes to Dems and Dem PAC's.

[whell]

Originally Posted by finnbow

Actually, it was directed at Krugman's challenge of Musk's economic viewpoints (which are as wingnutty as yours).

Read what I wrote rather than what you want to imply, Finn. You're talking about the article, I'm talking about the article's author. Time to move on.

[bobabode]

Employers add 209,000 jobs in June, a slow but steady gain
The unemployment rate fell slightly to 3.6 percent, according to a Bureau of Labor Statistics report released Friday - WP

https://www.washingtonpost.com/busin...-unemployment/

Thanks Uncle Joe.

[finnbow]

Originally Posted by bobabode

Employers add 209,000 jobs in June, a slow but steady gain
The unemployment rate fell slightly to 3.6 percent, according to a Bureau of Labor Statistics report released Friday - WP

https://www.washingtonpost.com/busin...-unemployment/

Thanks Uncle Joe.

And this represents the 17th month in a row of unemployment under 4%, something that hasn't occurred in 50 years.

Liz Ann Sonders, the chief investment strategist at Charles Schwab, pointed out that the unemployment rate in the U.S. is below 4%, the longest period under that level since the 1970s.

[Chicks]

The US economy is doing way better than the rest of the rich world
https://www.businessinsider.com/us-e...rld-2023-7?amp

Thanks Joe!

[whell]

Originally Posted by Chicks

The US economy is doing way better than the rest of the rich world
https://www.businessinsider.com/us-e...rld-2023-7?amp

Thanks Joe!

From your article: "This data further suggests the US is not heading toward a recession."

If that's what you want to believe, and I hope the article is correct, then position your investments accordingly.

However, don't dismiss other evidence to the contrary. Yield curve inversion began in 2022, but is now at its lowest level since 1981. Yield curve inversion has also preceded the last 8 recessions.

The next recession, if it happens, will be a bipartisan creation. It will result from Fed rate-hiking (2022-23), which was undertaken to “fight” fast-rising inflation (2021-22), which the Fed caused by massive money "printing" and flooding the economy will billions in debt-spending (2020-21) in response to the COVID lockdowns (2020-21).

You can debate the wisdom of any or all of the above decisions. The one economic bright spot has been consumer spending, which remains resilient in a rather recession-proof manner. As the impact of COVID-related Federal spending starts filtering out of the economy, it will need to be seen if consumer spending continues to be as robust as it is today.

[Chicks]

Inflation: Consumer prices in June rose at slowest annual rate since March 2021
https://finance.yahoo.com/news/june-...123148137.html

Good news for Joe. Bad news for the hate- and fear-mongers of the far Reich.

[finnbow]

Originally Posted by Chicks

Inflation: Consumer prices in June rose at slowest annual rate since March 2021
https://finance.yahoo.com/news/june-...123148137.html

Good news for Joe. Bad news for the hate- and fear-mongers of the far Reich.

Yeh, but Hunter Biden!!!