Biden Economy Keeps Rolling

[Lesh]

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?

So you want lower wages?

 

[Toddsterpatriot]

We need Paul Volcker back.

We need Reagan back.

 

[Oddball]

We need Andy Jackson back.

 

[Harpy Eagle]

We need Reagan back.

One of the few presidents that added a higher percent to the national debt than Bush II, Obama or Trump....yeah, that is what we need

 

[protectionist]

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

Like I just said, Keyword is "NOW" (ie. 4 months before presidential election). The true picture is Biden's own words in the 2020 debate, when he promised to "transition away from fossil fuels", and (as Post # 132 shows), he kept his promise in 2021 and 2022.

 

[Toddsterpatriot]

One of the few presidents that added a higher percent to the national debt than Bush II, Obama or Trump....yeah, that is what we need

It was awful!
He slashed taxes, won the Cold War and gave us a roaring economy.

 

[ThisIsMe]

So you have no idea

Thanks

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

That’s great. I’m sure the payroll of just about every company going from $7.50 per hour to $15.00 per hour wouldn’t have anything to do with rising prices either?

 

[Harpy Eagle]

It was awful!
He slashed taxes, won the Cold War and gave us a roaring economy.

all at the cost of adding 180% to the national debt and starting the country on a never ended cycle of out of control debt.

But yeah, life was good. It is like someone getting a new credit card and maxing it out...life is good till it is maxed out

Prior to Reagan the debt stayed pretty reasonable....

 

[citygator]

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.

You are a funny dude.

 

[protectionist]

So you have no idea

Thanks

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

MUCH higher than when Trump left office (1.4%), and during Trump's reign, inflation was ZERO. That's what it should be now. Prices are astronomical (esp rents & gas), and 3% inflation has them going EVEN HIGHER.

 

[ThisIsMe]

So you want lower wages?

I want government to lower taxes. There’s only so much of people’s labor you can take. When employers have to pay more, they charge more.

You can’t keep increasing taxes to match government spending. Eventually people will run out of money.

You have to cut spending, cut waste, and cut restrictive regulations that stifle business growth.

 

[Oddball]

"Rolling".....

The U.S. economy seems to finally be cracking. This month a slew of retailers (off the top of my head: Target, Lowe’s, Macy’s, Kohl’s, Best Buy and Foot Locker) reported negative year-over-year sales comps, and that’s before adjusting for the inflation that makes them 3% to 4% more negative in “real” terms. Others (Dollar General and Burlington) reported same-store sales comps in the +2% range, but that too was negative when adjusted for inflation, while Walmart and Nordstrom comps managed to roughly keep pace with inflation, but were unable to exceed it. (To its credit, Costco comps did handily beat inflation—I wish I’d bought that damn stock 15 years ago!)

Corroborating the poor retail sales data, final Q1 GDP growth (released May 30th) came in at just 1.3%, primarily because of the weakening consumer, while pending home sales plunged. At some imminent point in time, this stock market will switch from "bad news is good news" to "bad news is bad news" as it suddenly realizes that there's a HARD economic landing coming and sticky inflation (3.6% core CPI and 2.8% core PCE ) driven by massive federal budget deficits prevents the Fed from cutting enough to compensate for it. That's what we remain positioned for.

The U.S. Economy Is "Finally Cracking" | ZeroHedge

ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero

www.zerohedge.com

 

[Greenbeard]

MUCH higher than when Trump left office (1.4%), and during Trump's reign, inflation was ZERO.

That's because the economy was collapsed.

 

[protectionist]

"Rolling".....

The U.S. economy seems to finally be cracking. This month a slew of retailers (off the top of my head: Target, Lowe’s, Macy’s, Kohl’s, Best Buy and Foot Locker) reported negative year-over-year sales comps, and that’s before adjusting for the inflation that makes them 3% to 4% more negative in “real” terms. Others (Dollar General and Burlington) reported same-store sales comps in the +2% range, but that too was negative when adjusted for inflation, while Walmart and Nordstrom comps managed to roughly keep pace with inflation, but were unable to exceed it. (To its credit, Costco comps did handily beat inflation—I wish I’d bought that damn stock 15 years ago!)

Corroborating the poor retail sales data, final Q1 GDP growth (released May 30th) came in at just 1.3%, primarily because of the weakening consumer, while pending home sales plunged. At some imminent point in time, this stock market will switch from "bad news is good news" to "bad news is bad news" as it suddenly realizes that there's a HARD economic landing coming and sticky inflation (3.6% core CPI and 2.8% core PCE ) driven by massive federal budget deficits prevents the Fed from cutting enough to compensate for it. That's what we remain positioned for.

The U.S. Economy Is "Finally Cracking" | ZeroHedge

ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero

www.zerohedge.com

Most of the companies you mentioned, are not just losing sales (as a result of the Biden INFLATION), they are also closing stores all over the country.

 

[protectionist]

That's because the economy was collapsed.

No, because inflation was low all through Trump's 4 years, not just in the pandemic.

 

[Nostra]

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.

19.6% is a tiny GDP?

 

[protectionist]

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

OUTDATED link from 6 months go. (January)

This one is from May 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

 

[San Souci]

Key takeaways from the blowout May jobs report

The US economy added a whopping 272,000 jobs in May, far more than expected. The unemployment rate rose to 4% from 3.9%.

amp.cnn.com

270,000 jobs AGAIN

Let’s understand… 180,000 jobs created is a good month

The Biden economy keeps topping that

And also understand, the jobs lost under Trump from Covid were replaced years ago

Sure. Part Time Jobs. Gov't sinecures. The Economy SUCKS. Been shopping lately?

 

[Nostra]

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

How many barrels being produced off of Tater approved leases?

Zero sound about right, Simp?

 

[Greenbeard]

OUTDATED link from 6 months go. (January)

This one is from May 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

Checks out, Wal-mart isn't on the list. Looks to be poorly run dollar stores.