The Biden Economy

[nailer]

U.S. Consumer Sentiment @ Six-Month Low

The University of Michigan's most recent survey of consumer sentiment indicates that consumer sentiment in U.S. fell sharply to a six-month low of 57.7 in May of 2023 from 63.5 in April, well below forecasts of 63, amid renewed concerns about the trajectory of the economy, preliminary estimates showed. The expectations gauge declined to 53.4 from 60.5 and the current economic conditions subindex fell to 64.5 from 68.2.

[Rajoo]

Originally Posted by nailer

U.S. Consumer Sentiment @ Six-Month Low

The University of Michigan's most recent survey of consumer sentiment indicates that consumer sentiment in U.S. fell sharply to a six-month low of 57.7 in May of 2023 from 63.5 in April, well below forecasts of 63, amid renewed concerns about the trajectory of the economy, preliminary estimates showed. The expectations gauge declined to 53.4 from 60.5 and the current economic conditions subindex fell to 64.5 from 68.2.

I think some of this is due to the Fed interest rate hikes along with the uncertainty of the debt ceiling fiasco.

And meanwhile Biden economy is doing fine indeed.

When Biden took office in January 2021, the unemployment rate was 6.3 percent. Now it’s 3.4 percent, tied for the lowest figure since 1969. Even more impressive is the 4.7 percent rate for Black Americans: Not only is this the lowest rate in recorded history, but it also represents the smallest-ever gap between Black and White workers (whose unemployment rate stands at 3.1).

And there is a segment of our population that wants to elect DJT who as a casino owner mismanaged it and declared bankruptcy.

https://www.washingtonpost.com/opini...2024-election/

[whell]

Originally Posted by Rajoo

I think some of this is due to the Fed interest rate hikes along with the uncertainty of the debt ceiling fiasco.

And meanwhile Biden economy is doing fine indeed.



And there is a segment of our population that wants to elect DJT who as a casino owner mismanaged it and declared bankruptcy.

https://www.washingtonpost.com/opini...2024-election/

I honestly don't think the average Joe is paying much attention to the political machinations with the debt ceiling. I think the low consumer sentiment is numbers are driven by high gas and fuel prices, with a bit of the bank failure concerns sprinkled in.

[finnbow]

Originally Posted by whell

I honestly don't think the average Joe is paying much attention to the political machinations with the debt ceiling. I think the low consumer sentiment is numbers are driven by high gas and fuel prices, with a bit of the bank failure concerns sprinkled in.

Average Joes' attention will pick up when the Social Security checks don't come, Medicare claims are rejected and national parks are closed for their summer vacations. Your claim is wishful thinking that the public will not remember that the public won't remember GOP extremists' extortion demands that caused a default.

[whell]

Originally Posted by finnbow

Your claim is wishful thinking that the public will not remember that the public won't remember GOP extremists' extortion demands that caused a default.

LOL! You crack me up, Finn. You never seem to run out of straw for your strawman. You never run out of bullshit either.

[finnbow]

Originally Posted by whell

LOL! You crack me up, Finn. You never seem to run out of straw for your strawman. You never run out of bullshit either.

You don't think that McCarthy is aware his party will get the blame (as they should)? The GOP has blinked every other time they've tried this extortion racket. Then again, you may have a point. McCarthy is dumber than a rock.

[Rajoo]

Originally Posted by whell

LOL! You crack me up, Finn. You never seem to run out of straw for your strawman. You never run out of bullshit either.

So you think Kev is going to play hardball and refuse to raise the debt ceiling?

[Dondilion]

AI mania takes hold of the market. Every second word is AI. The easy money is no longer available.
Just hope this is not another one like the "dot.com" bubble.

In the meantime, Nvidia expects $11 billion in revenue for the second quarter.