Supply-Side Economics

[Chicks]

Britain’s new finance chief reverses prime minister’s economic policies
https://www.washingtonpost.com/world...dget-reversal/

LONDON — Seeking to bring stability to jittery debt and stock markets — and to help Prime Minister Liz Truss survive — Britain’s brand-new finance minister, Jeremy Hunt, on Monday said that the government would not slash taxes but would instead see them rise, in a stunning reversal of a trickle-down growth policy announced just three weeks ago.

ROFL. Ronnie's trickle-down was a disaster for working people. Why did Truss try to copy it?

[Chicks]

History shows that Republicans are 'just plain bad at managing the economy': industry experts
https://www.alternet.org/2022/11/biden-unemployment/

Back in 2004 — when he was more of a Blue Dog Democrat and had yet to move to the far right and launch the Patrick Buchanan-influenced MAGA movement — Donald Trump told CNN’s Wolf Blitzer, “I've been around a long time, and it just seems the economy does better under the Democrats than under Republicans.”

Trump, of course, isn’t saying that in 2022. In fact, he is claiming that Republicans — specifically, MAGA Republicans — are better for the U.S. economy. And some recent polls have found that most American voters, ahead of the 2022 midterms elections, trust Republicans more than Democrats on the economy. But authors David Rothkopf and Bernard Schwartz, in an op-ed published by the Daily Beast on November 4, argue that when it comes to the U.S. economy, Democrats have a much better track record.

Donny, it seems, used to sometimes (VERY rarely), tell the truth. Inconvenient fact, that.

[whell]

Originally Posted by Chicks

History shows that Republicans are 'just plain bad at managing the economy': industry experts
https://www.alternet.org/2022/11/biden-unemployment/



Donny, it seems, used to sometimes (VERY rarely), tell the truth. Inconvenient fact, that.

Fact? FACT? Have you seen the economy under Biden? The economy contracted at an annual rate in two consecutive quarters this year, meeting one common definition of recession. The International Monetary Fund has repeatedly lowered its forecast for U.S. and global economic growth in 2022 and 2023, as soaring and purchasing power.

The Fed seems intent on slowing the economy further by raising interest rates to combat inflation. Gas and oil prices are on the rise again after a brief late summer respite from their all-time highs this past summer.

CNN Business:

The question of a recession is no longer if, but when.

Over the past week, the pulse of those flashing red lights quickened as markets grappled with the reality — once speculative, now certain — that the Federal Reserve will press on with its most aggressive monetary tightening campaign in decades to wring inflation from the US economy. Even if that means triggering a recession. And even if it comes at the expense of consumers and businesses far beyond US borders.

The inconvenient fact is that your premise is a currently being proven a lie.

[Chicks]

Originally Posted by whell

Fact? FACT? Have you seen the economy under Biden?

Perhaps you mean under Donny's Fed chair pick Powell, right? After $2 Trillion was spent by the Congress under Donny? After the Repukes under Donny cut taxes for their $billionaire enablers in yet another failed "trickle down" effort?

It takes time to recover from all that malfeasance. Clinton did it. Biden, unfortunately, won't have the power soon, because morons like you vote against their own self interest. You have only yourself to blame. You really aren't very bright.

Donald Trump Built a National Debt So Big (Even Before the Pandemic) That It’ll Weigh Down the Economy for Years
The “King of Debt” promised to reduce the national debt — then his tax cuts made it surge. Add in the pandemic, and he oversaw the third-biggest deficit increase of any president.

https://www.propublica.org/article/national-debt-trump

[finnbow]

Originally Posted by whell

Fact? FACT? Have you seen the economy under Biden? The economy contracted at an annual rate in two consecutive quarters this year, meeting one common definition of recession. The International Monetary Fund has repeatedly lowered its forecast for U.S. and global economic growth in 2022 and 2023, as soaring and purchasing power.

The Fed seems intent on slowing the economy further by raising interest rates to combat inflation. Gas and oil prices are on the rise again after a brief late summer respite from their all-time highs this past summer.

As I suspect you know but are unwillingly to admit, inflationary pressures in our economy have far less to do with Biden's policies than with pent-up demand and supply chain issues deriving from COVID along with energy issues related to the war in Ukraine.

These same pressures have resulted in inflation everywhere across the globe with the USA generally faring better than other industrialized democracies. Indeed the only country trying to resolve the issues through supply-side policies (the UK) made things there immeasurably worse and the country whose policies the GOP most wants to emulate, Hungary, is experiencing inflation over 20%.

[whell]

Originally Posted by finnbow

As I suspect you know but are unwillingly to admit, inflationary pressures in our economy have far less to do with Biden's policies than with pent-up demand and supply chain issues deriving from COVID along with energy issues related to the war in Ukraine.
.

We've had this discussion before, but I'll do it w/o the Dem talking points.

Between Trump and Biden, you can fuel a hell of a lot of demand by pumping $6 trillion into the economy. Supply chain issues are still there, but a good chunk of those have been alleviated.

As far as energy issues, by the end of Aug 2022 pump prices had fallen below their pre-invasion average, despite the war in Ukraine. Now they're on their way up again, despite releases of oil from US strategic reserves. Its an issue we have the ability to resolve if we really wanted to.

[finnbow]

Originally Posted by whell

We've had this discussion before, but I'll do it w/o the Dem talking points.

My post contained exactly zero Democratic talking points, just facts reflecting the economic reality. That said, nowadays facts do indeed have a liberal bias.

[Rajoo]

Originally Posted by whell

Fact? FACT? Have you seen the economy under Biden? The economy contracted at an annual rate in two consecutive quarters this year, meeting one common definition of recession. The International Monetary Fund has repeatedly lowered its forecast for U.S. and global economic growth in 2022 and 2023, as soaring and purchasing power.

The Fed seems intent on slowing the economy further by raising interest rates to combat inflation. Gas and oil prices are on the rise again after a brief late summer respite from their all-time highs this past summer.

CNN Business:

The question of a recession is no longer if, but when.

Over the past week, the pulse of those flashing red lights quickened as markets grappled with the reality — once speculative, now certain — that the Federal Reserve will press on with its most aggressive monetary tightening campaign in decades to wring inflation from the US economy. Even if that means triggering a recession. And even if it comes at the expense of consumers and businesses far beyond US borders.

The inconvenient fact is that your premise is a currently being proven a lie.

"Have you seen the economy under Biden?

"The International Monetary Fund has repeatedly lowered its forecast for U.S. and global economic growth in 2022 and 2023, as soaring and purchasing power. "

Are you claiming that Biden is causing global recession also?
If not, wouldn't the global recession affect US economy since we are the largest?

And what does Biden has to do with Fed chair. Trump tried and failed to influence the Feds, remember that fiasco.

[init4fun]

Originally Posted by whell

As far as energy issues, by the end of Aug 2022 pump prices had fallen below their pre-invasion average, despite the war in Ukraine. Now they're on their way up again, despite releases of oil from US strategic reserves. Its an issue we have the ability to resolve if we really wanted to.

Hi whell, If you'd care to explain how it is that we have the ability to resolve the instability in fuel prices, I'd be interested in hearing your thoughts on it.....

[whell]

Originally Posted by Rajoo

"Have you seen the economy under Biden?

"The International Monetary Fund has repeatedly lowered its forecast for U.S. and global economic growth in 2022 and 2023, as soaring and purchasing power. "

Are you claiming that Biden is causing global recession also?
If not, wouldn't the global recession affect US economy since we are the largest?

And what does Biden has to do with Fed chair. Trump tried and failed to influence the Feds, remember that fiasco.

No, I'm not saying that. What I am saying is that we're the cause of many of our own issues.

If we manage the things well that ARE under our control - for instance, stop spending money we don't have, ramp up domestic oil production, etc. - we'd likely be experiencing far less economic turbulence than we are today.