Biden Economy Keeps Rolling

[Lesh]

Walmart closed approximately 24 stores in 2023, due to a mix of factors, including lower-than-expected performance, inventory shrink, and economic downturn.

Macy's (M) announced it would close 150 more stores among declining sales and foot traffic. Kohl's (KSS) has turned to inviting other stores into its own brick and mortar locations in an effort to gin up excitement about the brand. And budget-friendly retailers Dollar Tree and Family Dollar (DLTR) announced they would shutter approximately 1,000 locations in 2024 among declining economic conditions. >>

https://www.thestreet.com/retail/walmart-announces-more-store-closures-for-2024

Store closures are surging this year. Here are the retailers shuttering the most locations.​

Due to bankruptcies and other problems, retailers plan to close almost 3,200 stores this year, up 24% from a year ago.

www.cbsnews.com

Brick and mortar stores are closing?

Gee. That’s new huh?

 

[Lesh]

Government spending over $7 TRILLION per year with no pandemic.

next dumbass question?

That affects grocery prices? Explain how that happens.

In detail.. with links

 

[Richard-H]

Lies.

Dimwinger lockdowns were over. Explain how GDP growth averaged 19.6% the last two quarters of Trump’s time in office if we were shut down, Dumbass.

No, dumbass lockdowns were far from over when Biden took office.

The lockdowns didn't even start until April 2020.

The vaccines allowed some busineese to open, so we went from no GDP to a tiny GDP at the end of Trumpolini's Presidency.

 

[Toddsterpatriot]

DECLINING GDP growth. As occured 3 times in the Biden administration, including RIGHT NOW. YOU are the imbecile.

As the NBER definition of a recession is somewhat vague, economists often consider at least two consecutive quarters of declining U.S. GDP as a simple indicator of a recession.
In 1974, economist Julius Shiskin came up with a few rules of thumb to define a recession: The most popular was two consecutive quarters of declining GDP. A healthy economy expands over time, so two quarters in a row of contracting output suggests there are serious underlying problems, according to Shiskin. This definition of a recession became a common standard over the years.

What Is A Recession?

A recession is a significant decline in economic activity that lasts for months or even years. Experts declare a recession when a nation’s economy experiences negative gross domestic product (GDP), rising levels of unemployment, falling retail sales, and contracting measures of income and manufactur

www.forbes.com

Recession: Definition, Causes, Effects & Solutions

In economics, a recession means a decline in economic growth. More specifically, it is when an economy experiences two consecutive quarters of economic decline.

boycewire.com

https://money.usnews.com/investing/term/recession

https://money.usnews.com/money/pers...-what-2-quarters-of-negative-gdp-mean-for-you

The most popular was two consecutive quarters of declining GDP.

Exactly. No quarter since 2022 has shown a decline in GDP. Moron.

 

[Toddsterpatriot]

Presumably the notion is that it's Biden's fault that the money supply massively inflated under Trump.

It's Biden's fault that the money supply massively inflated under Biden.

 

[Greenbeard]

It's Biden's fault that the money supply massively inflated under Biden.

That hasn't happened. Biden era's in red:

Of course, the five-fold increase under Trump hasn't gone away.

 

[scruffy]

Prices are controlled by businesspeople, not the President, this is greedflation.

What an incredibly stupid thing to say.

Tariffs? Duh....

Tell your GOP buddies to cut their profits.

Tell you Dimtard masters to cut their heads off at the neck.

If the President tried to do anything to control prices, you MAGA Idiots would be screaming and calling him a socialist and a communist.

Since I'm not a MAGA idiot, I don't scream.

I told you a thousand times, shut your ears and open your eyes. Watch what they do, not what they say. I live by those words. Accomplishments talk, bullshit walks.

 

[Toddsterpatriot]

Biden has out maneuvered OPEC resulting in lower gas prices, a stable oil market - and made billions for the U.S. Treasury:

https://www.wsj.com/business/energy-oil/president-joe-biden-oil-trader-extraordinaire-e97947fb

Biden has out maneuvered OPEC resulting in lower gas prices, a stable oil market - and made billions for the U.S. Treasury:

He's still about 220 million barrels away from replacing what he sold.
He hasn't made anything for the U.S. Treasury yet.

 

[Greenbeard]

Walmart closed approximately 24 stores in 2023, due to a mix of factors, including lower-than-expected performance, inventory shrink, and economic downturn.

Walmart, in a Reversal, to Open New Stores in the U.S.

It has been a while since Walmart felt it was too small.

The retail giant plans to open or expand 150 stores in the U.S. over the next five years, reversing a strategy that had focused on keeping its store count flat. Most stores targeted in the project will be new locations.

 

[j-mac]

Walmart, in a Reversal, to Open New Stores in the U.S.

Great, more shelves that can be half stocked, with out of date food….

 

[Toddsterpatriot]

That hasn't happened. Biden era's in red:

Of course, the five-fold increase under Trump hasn't gone away.

Look at that! About a 15% increase in Biden's first 15 months. No wonder why Bidenflation was so serious.


Of course, the five-fold increase under Trump hasn't gone away.

Poor Joe, too stupid to reduce the money supply, decides to increase it instead.

 

[protectionist]

Biden economy is in free fall >>

United States produces more crude oil than any country, ever - U.S. Energy Information Administration (EIA)

www.eia.gov

How U.S. oil production reached an all-time high in 2023

As the year comes to a close, gas prices in the U.S are at their lowest point of 2023. And not coincidentally, domestic oil production is at a record level. But it comes at a time when the U.S. is trying to wean itself off fossil fuels. William Brangham examined the big changes and the...

www.pbs.org

The following report is from near the end of 2022, before Biden began to ramp up for the ELECTION year >>

Biden's production was a major reduction from what Trump's production was, and even much more major, when we extrapolate Trump's rising line to January 2023, if he had retained the presidency.

Oil production overall not only increased, during the Trump administration, it soared, and was vastly greater than the production we've gotten with Biden.
Trump production
December 2019 - 402.3 Million Barrels/month
January 2020 - 398.4
And Trump exceeded Biden's top month of 371.2 Million Barrels/month NINE TIMES, despite the Obama low production influences and later, the pandemic months reductions. And note also that Biden's top production month of 371.2, was recently in August of 2022, when he started increasing production, to try to lower gas prices, as we started getting closer to the 2022 ELECTION.

Biden's 2021 average is 341 Million Barrels/month compared to Trump's 374.
Biden's 2022 average (when he ramped up production as the 2022 election drew closer) wasn't much better > 354.

												8
2017	275,117	255,081	284,146	273,041	284,727	273,321	286,657	286,759	285,499	299,726	302,564	309,486
2018	310,032	287,870	324,467	314,996	323,491	319,216	337,814	353,154	343,298	356,767	356,583	370,284
2019	367,924	326,845	369,292	364,458	376,763	366,546	368,965	387,073	377,710	397,094	390,010	402,314
2020	398,420	372,419	396,693	357,412	301,105	313,275	341,184	327,875	327,623	324,180	335,867	346,223
2021	344,846	277,891	351,102	339,142	352,036	340,693	351,757	349,600	327,526	358,626	353,702	360,666
2022	352,449	316,851	362,725	350,052	360,503	353,918	367,164	371,339	368,040

U.S. Field Production of Crude Oil (Thousand Barrels)

AND, if we extrapolate the EIA graph curve of Trump to now (Dec. 2022) if Trump were still president, it would be whopping 580 Million Barrels/month - HUNDREDS of Barrels/month more than Biden ever allowed produced.

U.S. Field Production of Crude Oil (Thousand Barrels)

Look at the graph line where it peaked at 402 Million Barrels/mo in December of 2019. Because of the climb up to that point, there is every reason to believe, that had the pandemic shutdowns not occured, that rising line would have continued rising exactly as it was already doing. And if Trump had remained president, and we thereby extend-extrapolate the line to as far as December 2022, we can easily see that it would be at about 580 Million Barrels/mo

(209 million Barrels/mo more than Biden's measly 371 Million).

Go ahead - put a ruler on the line that starts at 2017 when Trump took over, and look at where it goes to for December 2022 > 580 Million

All one need do to see the stark difference between the oil-friendly Trump and the oil-hostile Biden, is look at the NOSEDIVE oil production took between Trump's last month, and Biden's first month (when he issued an EO to halt oil drilling)
Trump's last month in office was January 2021 - production was 344 MB/mo. Bidens first month was 277.
A DROP of a whopping 67 MB/mo Sure, because that was right after Biden issued EOs cancelling oil leases

Biden signs executive order pausing federal drilling leases

 

[scruffy]

View attachment 960333

Look at that! About a 15% increase in Biden's first 15 months. No wonder why Bidenflation was so serious.


Of course, the five-fold increase under Trump hasn't gone away.

Poor Joe, too stupid to reduce the money supply, decides to increase it instead.

We need Paul Volcker back.

 

[ThisIsMe]

And what policy decisions do you think account for current prices?

Whatever policy decisions are causing inflation to be high.

 

[protectionist]

Brick and mortar stores are closing?

Gee. That’s new huh?

Nothing new about it. They've been hurt by Amazon, TEMU, and various on line sellers going well back to 2000. But for 20 yRS THEY WERENT GOING OUT OF BUSINESS LIKE THEY ARE NOW .

After 3 years of Biden INFLATION.

 

[scruffy]

Whatever policy decisions are causing inflation to be high.

Giving taxpayer money to illegal aliens?

So much of it, that every blue city in the country is complaining?

Funding transsexual surgery for prisoners at public expense?

The list goes on ad nauseam.

 

[Greenbeard]

U.S. Field Production of Crude Oil (Thousand Barrels)

Wow, record oil production right now! Like I just said.

 

[protectionist]

Walmart, in a Reversal, to Open New Stores in the U.S.

Store closures are surging this year. Here are the retailers shuttering the most locations.​

Due to bankruptcies and other problems, retailers plan to close almost 3,200 stores this year, up 24% from a year ago.

www.cbsnews.com

 

[Lesh]

Whatever policy decisions are causing inflation to be high.

So you have no idea

Thanks

Oh and inflation is currently around 3%. That is not high

 

[ThisIsMe]

Prices are controlled by businesspeople, not the President, this is greedflation.

Tell your GOP buddies to cut their profits.

If the President tried to do anything to control prices, you MAGA Idiots would be screaming and calling him a socialist and a communist.

Prices are controlled by businesspeople, not the President, this is greedflation.

Tell your GOP buddies to cut their profits.

Tell your liberal buddies to stop raising taxes…

I’m not suggesting they enact price controls, but, things like higher taxes cause people to raise prices.

Also, more money in the system will cause prices to go up. What did everyone think would happen when almost over night, wages went from $7.50 an hour to $15 an hour? That the economy wouldn’t react to people having more money?