The Biden Economy

[finnbow]

Originally Posted by bobabode

...and 'regular'.

It'll set you free, blow your mind and make you regular.

[whell]

Originally Posted by finnbow

You seem to be invested in convincing yourself, despite ample evidence to the contrary, that the current economy is in bad shape and that this condition is Biden's fault.

You seem to be invested in putting words in my mouth for the sole purpose to slaying a straw man. Did I say the current economic situation was all Biden's fault? Nope. Did he play a role in revving up inflation? Sure he did, your denial and claims of "bullshit" notwithstanding. If said here before that the knee-jerk reactions of Repubs during COVID - which manifested during an election year - also played a significant role.

Originally Posted by finnbow

While total bullshit, I suppose it's easier than your previous quixotic hobbyhorse of convincing yourself that Trump was an upstanding, effective president and not a criminal, traitor, coup-plotter, fraud and rapist.

You really need to let down your guard and allow reality to intrude into your delusional MAGA-influenced world. You'll be both happier and better-informed.

More straw man slaying in evidence above. Doesn't it trouble you that this is the only method you have of "winning" arguments?

Originally Posted by finnbow;426124Meanwhile:

[I

Consumers got more bang for their buck in October as incomes and spending both rose, and prices stayed flat—an encouraging sign in the Federal Reserve’s fight against inflation.

Prices for goods and services rose a negligible amount in October from September, according to the Personal Consumption Expenditures price index, the Bureau of Economic Analysis said Thursday.1

Bureau of Economic Analysis. "Personal Income and Outlays, October 2023."
The 0.04% rise, rounded off to 0% in official statistics, made for a 3% increase over the last 12 months. That's down from a 3.4% rise in September and the lowest since March 2021.[/I]

https://www.investopedia.com/the-fed...h-2021-8408412

"The price of goods rose a negligible...."

Quoting from the official source of disinformation, I see. You cherry-pick the facts, but while you were crowing about a single calendar quarter of economic activity, you miss the big picture.

A key factor in the slowdown is that the OECD expects the world’s two biggest economies, the United States and China, to decelerate next year. The U.S. economy is forecast to expand just 1.5% in 2024, from 2.4% in 2023, as the Federal Reserve’s interest rate increases — 11 of them since March 2022 — continue to restrain growth. The Fed’s higher rates have made borrowing far more expensive for consumers and businesses and, in the process, have helped slow inflation from its four-decade peak in 2022. The OECD foresees U.S. inflation dropping from 3.9% this year to 2.8% in 2024 and 2.2% in 2025, just above the Fed’s 2% target level.

Now, this is the forecast - I know you say you hate those even though you often post data from forecasts - by the OECD folks. Doesn't mean that it will come to pass. The big picture is that the economy is in a pretty fragile place right now. To deny that is to walk around with your head up your ass. You claiming in an earlier post that we'd already achieved "the elusive soft-landing" seems to indicate that's exactly where your head is.

The Fed's rate increases may be working to reduce inflation, but the expected result is at minimum a period of slow growth. Folks running through their COVID money and the natural slowdown in expected spending when that happens will also play a role.

Like I said earlier, the full story on this economy hasn't been written yet.

[Oerets]

Pretty simple to understand the two opposing views on this and many other issues confronting our country today.

One side still believes their guy to be a honest successful businessman, good christian family man. A patriot with the countries well fair his top concern. Believe in Biden running a criminal organization and also feeble minded failing to see the contradictions there in.

So for them to believe what they are told with no independent thought is to be expected. When they already have shown to be easily swayed.

Compared to the other side who uses a open mind and experiences along with seeking multifaceted well educated based information. To then come to a decision on current events.

[whell]

Originally Posted by Oerets

Pretty simple to understand the two opposing views on this and many other issues confronting our country today.

One side still believes their guy to be a honest successful businessman, good christian family man. A patriot with the countries well fair his top concern. Believe in Biden running a criminal organization and also feeble minded failing to see the contradictions there in.

So for them to believe what they are told with no independent thought is to be expected. When they already have shown to be easily swayed.

Compared to the other side who uses a open mind and experiences along with seeking multifaceted well educated based information. To then come to a decision on current events.

On the contrary, many of us believe that there are few if any decent humans to be found inside the DC beltway, and most of the folks inside that little beltway bubble could care less what you or I think.

[Oerets]

Originally Posted by whell

On the contrary, many of us believe that there are few if any decent humans to be found inside the DC beltway, and most of the folks inside that little beltway bubble could care less what you or I think.

Kinda proved my point with this reply.

When one party only it seems answer to the issues facing our country is simply put, tear it all down! Without having any solutions other then getting rid of anything from the other side as all bad and needs to be gone now! Again now solutions, well maybe tax cuts for the rich......

Then the other side seems to have passed healthcare reform the country now enjoys. Brought back our economy and rebuilding our infrastructure. Trying to pass environmental legislation in the hopes of helping the planet. Also trying to pass tax reforms to benefit the majority of citizens. All issues to benefit the citizens of this country.

[Chicks]

Originally Posted by whell

On the contrary, many of us believe that there are few if any decent Repubes to be found inside the DC beltway, and most of the Repubes inside that little beltway bubble could care less what you or I think.

Fixed it for you.

[finnbow]

Originally Posted by whell

On the contrary, many of us believe that there are few if any decent humans to be found inside the DC beltway, and most of the folks inside that little beltway bubble could care less what you or I think.

As a Republican, it's easy to see why you feel that way.

[Chicks]

Inflation Is Over – What Comes Next?
https://www.forbes.com/sites/georgec...at-comes-next/

Sorry, Whell, I know this article is well above your comprehension level.

[whell]

Originally Posted by Chicks

Inflation Is Over – What Comes Next?
https://www.forbes.com/sites/georgec...at-comes-next/

Sorry, Whell, I know this article is well above your comprehension level.

The subject in its entirety may well be above your comprehension level. If "inflation is over", someone forgot to tell the Fed:

The Federal Reserve is expected to ultimately cut interest rates in 2024, but in a measured way and with action weighted toward the second half. Today, the Fed Funds target rate is 5.25% to 5.5%. Markets expect that to fall by approximately 1% by the end of 2024 — as assessed by the CME FedWatch Tool, which measures the implied expectations of the debt markets. The current range of outcomes for rates suggests a likely figure between 4% and 5% for short-term rates by December 2024.

The Fed’s own more recent projections from September 20 are more hawkish than the market’s view. They suggest rates may not decline quite as much and fall to the 4.% to 5.5% range by December 2024.

In other words, no one at the Fed has stated if and when rate cuts would be considered appropriate, and confirmed the timing of those cuts.

Also, the author of your quoted article bases his "inflation is over" comment by looking only a "Core CPE". That's only part of the data that the Fed looks at.

October’s CPI report saw headline inflation cool to a 3.2% annual rate as energy prices fell. However, stripping out food and energy, the underlying rate is 4.0%. Importantly, shelter costs rose more slowly than many months of 2023, which is important given the category’s weight in the series. These shelter cost trends may reassure the Fed. Still, the inflation rate, though decelerating for much of 2023, is still well above the Fed’s 2% annual inflation target, and services inflation remains fairly high. As such, Fed officials have stated that they have no plans to cut rates in the near term.

Like is said earlier, you're great at snide remarks but you suck at comprehending facts.

[Chicks]

Inflation hits lowest level since 2021, Fed's preferred gauge shows
https://finance.yahoo.com/news/infla...133230834.html

"For the Fed, fresh signs of softer inflation and consumer demand confirm it is well positioned to remain on hold at the December policy meeting," EY senior economist Lydia Boussour wrote in a research note on Thursday. "We reiterate our long-standing view that the Fed’s tightening cycle is likely complete. With the Fed’s favored inflation gauge — core PCE inflation — likely falling below 2.5% in the spring, we expected the first Fed rate cut in June 2024."

Ahead of the print's release, markets had upped bets that the Fed was likely done hiking interest rates as economic data had recently showed inflation declining while the economy continued to grow.

The moves coincided with recent commentary from Fed officials that investors deciphered to mean the central bank could cut interest rates sooner than many had initially thought.

Thanks, Joe! Keep up the great work for the American people!