President Trump, who has a bit of a hang-up about being laughed at, fled the NATO summit early after video emerged of world leaders mocking him. Aired on 12/...
This^ part of your post that I left is actually true, so good show for getting something right for once. The rest of what you wrote is either flat nonsense or biased spin.
1) Yes, inflation is flat (and falling), and it is because we are technically in a recession (I don't accept the NBER's definition which will tell us that we are NOT in a recession. I accept the MUCH BETTER 2 consecutive quarters of negative GDP growth.).
2) The recession we are in (it is shallow and will be over by next quarter) is also the main reason that gas prices are falling like a rock. $2.99 gas is now had in Ohio in the capital city of Columbus.
3) HOUSING prices are falling and demand for them is much less due mainly to The Fed raising rates.
4) IF you accept that the change in inflation now is NOT due to anything Biden has done (you are correct there), then you also MUST accept that the LOW gas prices during Trump's second half of his presidency were due to the recession we had in 2021 AND the fact that the raging pandemic at the time killed demand at the pump.
Since you said the other stuff is nonsense, I thought I'd apprise you of some things that you evidently are not aware of. Start with consumer debt:
from MSN:
Consumer debt hits pre-pandemic high Consumers continue to take on more credit card debt as inflation hikes up their spending. Consumer revolving debt — which is mostly based on credit card balances — gained $14.8 billion on a seasonally adjusted basis in June. It’s now up to $1.125 trillion, taking it past its pre-pandemic high, according to the Fed’s G. 19 consumer credit report. For June, inflation rose 9.1% over the year (and 1.3% from May levels), which means consumers had to shell out more money to buy goods. In June, card balances rose a healthy 16% on an annualized basis, following May’s 7.8% (revised) gain and April’s robust 19.6% jump. Total consumer debt — which includes student and auto loans, as well as revolving debt — gained $40.1 billion to touch $4.627 trillion in June. That’s a 10.5% seasonally adjusted annualized increase.
A lot of people left the workforce permanently when COVID shutdowns hit. Unemployment is at record lows partly because fewer people are in the labor force.
Manufacturing:
Empire State Manufacturing Survey Came out on Monday. It dropped to levels only seen during recessions:
You teach me nothing there. Again, what you wrote that I didn't highlight is either flat nonsense or biased spin. There are a couple of things you said on second look that are correct but not really all that consequential.
Your big win was the thing I highlighted, so celebrate that...you are correct that Joe Biden's actions have had NOTHING to do with the flat and now falling inflation...just as his actions had NOTHING to do with the spike in inflation.
Honestly Gary I have no clue who is running the country, but at least it isn't Donald Trump. Joe is healthy enough to shake hands and smile for the cameras. Every now and then he wrecks on a bike but he maintains the ability to sign his name so it's fine.
That's alarming. Biden is clearly NOT running the country and for that reason alone, he must step down.
There is just one (1) person I can think of living in this country today who has the power to almost immediately send human wave attacks at basically any federal building, & I still have not wrapped my head fully around the fact that it’s the former host of Celebrity Apprentice
Yeah, if you had any shame, you Trumpers would stay away from "The world is laughing at Biden" when your god is the only president in history to have video proof of world leaders laughing at him - right out of a scene in a high school cafeteria.
And save his re-election, a record that will likely be in the books for QUITE some time......
.....then again, President Desantis? Yeah, maybe not in the books TOO long.
You teach me nothing there. Again, what you wrote that I didn't highlight is either flat nonsense or biased spin. There are a couple of things you said on second look that are correct but not really all that consequential.
Your big win was the thing I highlighted, so celebrate that...you are correct that Joe Biden's actions have had NOTHING to do with the flat and now falling inflation...just as his actions had NOTHING to do with the spike in inflation.
Most economists (from both sides of the aisle) agree that the American Rescue Plan added 2-4% to our current inflation. Without the AMRP, inflation would be much easier to reign in.
You teach me nothing there. Again, what you wrote that I didn't highlight is either flat nonsense or biased spin. There are a couple of things you said on second look that are correct but not really all that consequential.
Your big win was the thing I highlighted, so celebrate that...you are correct that Joe Biden's actions have had NOTHING to do with the flat and now falling inflation...just as his actions had NOTHING to do with the spike in inflation.
Most economists (from both sides of the aisle) agree that the American Rescue Plan added 2-4% to our current inflation. Without the AMRP, inflation would be much easier to reign in.
Do they say what would have happened to small businesses, families, and children without AMRP?
You teach me nothing there. Again, what you wrote that I didn't highlight is either flat nonsense or biased spin. There are a couple of things you said on second look that are correct but not really all that consequential.
Your big win was the thing I highlighted, so celebrate that...you are correct that Joe Biden's actions have had NOTHING to do with the flat and now falling inflation...just as his actions had NOTHING to do with the spike in inflation.
Most economists (from both sides of the aisle) agree that the American Rescue Plan added 2-4% to our current inflation. Without the AMRP, inflation would be much easier to reign in.
In other words, you would prefer the us economy did not grow a rampaging 6% in 2021. You would prefer less growth and less inflation. More like Europe’s anemic recovery from Covid. You want the usA to be more like europe.
irs a valid view and we will see what happens. Right now it looks ok.
Most economists (from both sides of the aisle) agree that the American Rescue Plan added 2-4% to our current inflation. Without the AMRP, inflation would be much easier to reign in.
Do they say what would have happened to small businesses, families, and children without AMRP?
Tell yourself that if it helps you sleep at night. It wasn't about saving those entities (that by and large were not in need of saving). It gave most people a $1,400 check that they didn't need that spawned inflation. It bailed out blue state and local governments that imposed excessively severe COVID shutdowns on their populations. In the end, it made us all poorer via inflation and bailed out irresponsible governments.
US President Joe Biden was seen wandering around a cafe in Cornwall, England, before his wife stepped in and led him away. Conservatives, who have long questioned Biden’s mental acuity, called the video “painful to watch.”
Do they say what would have happened to small businesses, families, and children without AMRP?
Tell yourself that if it helps you sleep at night. It wasn't about saving those entities (that by and large were not in need of saving). It gave most people a $1,400 check that they didn't need that spawned inflation. It bailed out blue state and local governments that imposed excessively severe COVID shutdowns on their populations. In the end, it made us all poorer via inflation and bailed out irresponsible governments.
For some it was $1,400 they didn't need. But for others it was the difference between the kids having enough to eat. (And for many others, it meant getting $0 because you make too much money.)
And what happens when those local governments fail?
And what happens when all those small businesses fail and people lose their jobs?
You can argue that it was too expensive, but you can't deny that it relieved suffering for a lot of people.
Agip is right. We'd be more like Europe right now without AMRP.
For some it was $1,400 they didn't need. But for others it was the difference between the kids having enough to eat. (And for many others, it meant getting $0 because you make too much money.)
And what happens when those local governments fail?
And what happens when all those small businesses fail and people lose their jobs?
You can argue that it was too expensive, but you can't deny that it relieved suffering for a lot of people.
Agip is right. We'd be more like Europe right now without AMRP.
Those families that evidently needed the $1,400 to feed their kids lost $5,000+ this year as a result of the inflation it produced. Getting $1,400 at the expense of $5,000 is a bad trade if you ask me.
Governments that fail to lead deserve to fail and the entities that caused the failure deserve to be voted out.
If you favored the governments that imposed excessive shutdowns, then you obviously do not care that much about small businesses. Don't feign an interest after the fact.
A lot of people left the workforce permanently when COVID shutdowns hit. Unemployment is at record lows partly because fewer people are in the labor force.
The labor shortage looks like it will continue to drive inflation. Other than gas prices, most things continued to go up in price on trend last month. I don't see that trend reversing any time soon.
Those families that evidently needed the $1,400 to feed their kids lost $5,000+ this year as a result of the inflation it produced. Getting $1,400 at the expense of $5,000 is a bad trade if you ask me.
A family that needs the $1,400 to feed their kids is a family in poverty. Ballbark a 2 or 3 person family in poverty at an income level of $15,000 (thresholds around $20k). If you think that the expenses of such a family rose by $5,000 this year due to inflation then math isn't really your strong suit, dude. Perhaps best to just avoid any topics that involve numbers in the future.
In other words, you would prefer the us economy did not grow a rampaging 6% in 2021. You would prefer less growth and less inflation. More like Europe’s anemic recovery from Covid. You want the usA to be more like europe.
irs a valid view and we will see what happens. Right now it looks ok.
Since the American Rescue Plan passed, GDP growth by quarter has been: 6.7%, 2.3%, 6.9%, -1.6%, -0.9%.
We are not at all comparable to Europe. We have a less insane energy policy, a younger (but still aging) population, a much faster re-opening from covid, peaceful neighbors, etc. European economies would be stagnant with or without any big fiscal stimulus bill.
