Bidenomics

GURPS

INGSOC
PREMO Member

Joe Biden’s Economic Dunkirk




Fast forward 44 years and Stockman’s dire warning about regulatory time bombs and an economic Dunkirk is about to come horrifyingly true.

That’s because, unlike Carter, President Joe Biden is unable or unwilling to learn in office. And so, instead of deregulating the economy to fuel growth and lower prices, he is smothering it with an unprecedented number of new and massively expensive rules and regulations.

Rules that will:

  • Force car owners into inconvenient, expensive, range-deficient EVs.
  • Impose emission standards on large trucks that, the industry says, will be “the most challenging, costly and potentially disruptive heavy-duty emissions rule in history.”
  • Sharply raise the cost of drilling for oil and gas on public lands and raise the cost of water.
  • Make it nearly impossible to get permits to expand or build new facilities in most areas of the country without violating impossibly strict clean-air standards.
  • On and on the list goes.

To quote Stockman, if these time bombs aren’t immediately diffused by the next administration, they will “sweep through the industrial economy with near gale force, pre-empting multi-billions in investment capital, driving up operating costs, and siphoning off management and technical personnel in an incredible morass of new controls and compliance.”
 

DaSDGuy

Well-Known Member
As the Biden White House continues to brag about the alleged success of its economic policies, government data shows the country is hemorrhaging full-time jobs.

According to the U.S. Bureau of Labor Statistics, the number of Americans reporting full-time employment dropped by more than 1.7 million jobs from November 2023 to the end of March 2024, the most recent month for which data is available.

That’s a decline of 1.33% over a five-month period. Excluding job losses related to the COVID-19 lockdowns in 2020, the recent drop in full-time employment is the largest five-month decline since the Great Recession in 2009, 15 years ago.




Let's see the libtards blame this on COVID. Especially since Biden claimed the pandemic was over back in 2022.

To refresh your memory - POTUS during Great Recession in 2009 was Hussein Obama
 
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HemiHauler

Well-Known Member
As the Biden White House continues to brag about the alleged success of its economic policies, government data shows the country is hemorrhaging full-time jobs.

According to the U.S. Bureau of Labor Statistics, the number of Americans reporting full-time employment dropped by more than 1.7 million jobs from November 2023 to the end of March 2024, the most recent month for which data is available.

That’s a decline of 1.33% over a five-month period. Excluding job losses related to the COVID-19 lockdowns in 2020, the recent drop in full-time employment is the largest five-month decline since the Great Recession in 2009, 15 years ago.


Congrats! Found a piece that hits on all the Culture War buzzwords AND engaged in Herculean level gymnastics. Your handlers must be proud! I bet you get a gold star on your uniform lapel today!
 

Kyle

Beloved Misanthrope
PREMO Member
Congratulate me. I found a way to complain about something innocuous again. Give me a few more minutes and I'll find a way to tie Bidenomics to Trump so I can indulge my Stage 5 TDS.

🌟 🌟

Well done! You get TWO Gold Stars for that! :jet:
 

Hijinx

Well-Known Member
We are in trouble. The economy is poor and even though it isn't yet catastrophic the economy as it is , is being held up only by printing more money and going deeper in debt.

Even the International Monetary fund is warning us that we are creating a monster that will ruin the economy of the whole planet if we continue in this way. If we go down they all go down and they know it and we are on the way down . We cannot continue to print money go in debt and send our money to fund other countries ,Countries who hate us but take our money.
 

GURPS

INGSOC
PREMO Member








'High-net-worth' individuals are those worth more than $100 million, apparently.

More from Watcher.Guru:

In March, President Biden proposed a 44.6% capital gains tax in the 2025 government budget, the highest in history. The proposal includes a 25% tax on unrealized gains for high-net-worth individuals. A quote from the March budget proposal reads “Together, the proposals would increase the top marginal rate on long-term capital gains and qualified dividends to 44.6 percent.”
The source of the 44.6% rate is a footnote from the General Explanations of the Administration’s Fiscal Year 2025 Revenue Proposals, and it reads in relevant part: “A separate proposal would first raise the top ordinary rate to 39.6 percent … An additional proposal would increase the net investment income tax rate by 1.2 percentage points above $400,000 … Together, the proposals would increase the top marginal rate on long-term capital gains and qualified dividends to 44.6 percent.” The White House looks for the proposal to raise the long-term capital gains and qualified dividends rates for taxpayers.


Just wow. All your money belongs to Grandpa Joe, apparently.




 

GURPS

INGSOC
PREMO Member

Biden’s worst-case economic scenario is unfolding at the worst possible time



Last Thursday, the Bureau of Economic Analysis released its advance estimate for 2024’s first-quarter real GDP growth. At 1.6 percent, it is the worst quarterly performance since the economy contracted by 0.6 percent almost two years ago in the second quarter of 2022. This was a growth level one-third below economists’ expectations of 2.4 percent. It is also a precipitous drop from 2023’s fourth quarter rate of 3.4 percent and 2023’third quarter rate of 4.9 percent.

This slower growth comes on the heels of higher inflation. The March report on overall prices showed the Consumer Price Index for all Urban Consumers rose 3.5 percent over the last year — 3.8 percent when core inflation (minus food and energy) was considered. That figure was higher than any since September 2023 and marked the third consecutive monthly increase.

Then on Friday, came more bad inflation news, this time on personal consumer expenditures excluding food and energy. This is the Federal Reserve’s preferred inflation gauge, and in March it rose 2.8 percent compared to a year ago — the same as in February and above expectations.

This jujitsu juxtaposition of higher inflation and lower growth must not be underestimated. Gone is the charade of someone who has effectively never worked in the private sector telling working Americans how good the economy is. Joe Biden, who loves to harken back to blue-collar Scranton roots, should have known better. Americans now do.

There is but one real measure of the economy for them: Am I putting more on my family’s table? Inflation’s insidious impact is its cumulative effect. Just because inflation’s rate of increase slows (which it isn’t) does not mean its past effect is wiped away (which it’s not). Now the economic growth that the administration hoped would at least outstrip inflation’s increase — and reverse some of that cumulative effect — is not.
 

GURPS

INGSOC
PREMO Member

jrt_ms1995

Well-Known Member
I noticed the prices in our office vending machines increased last week; everything up 25 cents and nothing less than $1.25. Package volume had already decreased well before that.

I could get by, if I only had an uncle or two remaining I could cannibalize. :(
 

HemiHauler

Well-Known Member
I noticed the prices in our office vending machines increased last week; everything up 25 cents and nothing less than $1.25. Package volume had already decreased well before that.

I could get by, if I only had an uncle or two remaining I could cannibalize. :(

Oh the Hugh Manatee!
 

HemiHauler

Well-Known Member
Inflation has not been tamed yet, not by a long shot. Although energy may temper it a little.
So long as the markets keep doing what they’re doing, I’m not sure I care all that much about inflation. It’s not like it ever disappears anyway.
 

GURPS

INGSOC
PREMO Member
📈 Two weeks ago, the New York Times ran an eyebrow-raising article under the heavily ironic headline, “With Inflation This High, Nobody Knows What a Dollar Is Worth.” Certainly the New York Times doesn’t know what a dollar is worth, and hasn’t for a long time. Joe Biden might not know, either. “Wages keep going up, and inflation keeps coming down,” Biden boasted in January, during his State of the Union address.


image 5.png


But independent researchers, using what they call the “Fast Food Index,” claim otherwise. Since last week, a viral image has been widely making the rounds. It caught my attention this morning, because I noticed that it stung corporate media, which immediately rushed to put out the political fires.

Here’s the viral graphic, which conclusively proves the real scale of inflation at a glance:



image 4.png



But wait! Don’t believe your lying eyes! Among several other platforms, all simultaneously late last week, CNBC’s political fire brigades rushed out the Biden Administration’s talking-points fire truck:



image 6.png


CNBC was clearly uncomfortable putting much in writing. Instead its article referred readers to a “video explainer.” CNBC’s cheerful, MTV-style video explainer argued that you just shouldn’t use fast food as any kind of barometer for inflation. But the video couldn’t carry it off. First off, CNBC schizophrenically used the government’s figures as a starting point; the Consumer Price Index (CPI) grudgingly admits only that fast food is up +23% since Biden took office.

But then, blowing up its own argument in mid-sentence, in the video CNBC used a Subway turkey sub as an example. The sub cost $5 two years ago. It costs $11 now. Even Portlanders can tell that’s a lot more than +23%.

Laughably, trying to find the bright side, CNBC claimed the higher prices were leading to higher profits and benefiting investors. But this week’s headlines tell a completely different story:


image 7.png


Two days ago, the Wall Street Journal ran a related story headlined, “Consumers Fed Up With Food Costs Are Ditching Big Brands.” The article described alert Laguna Niguel consumer Denis Montenaro, 75, who recently ran by McDonald’s to grab his favorite order: a bacon and egg bagel and a black coffee. The retired manager “was stunned to see the $9.67 bill.”

That’s it! “I’m done with fast food,” Montenaro told the Journal.

Basically, and tying right to Biden’s ridiculous SOTU claim, CNBC dutifully explained how fast food price inflation is really good news. “After the pandemic,” CNBC patiently lectured, “employers competed with each other to hire employees, by offering higher wages.” So increased labor cost is the main reason, according to CNBC, that food prices are skyrocketing.

See? It’s good news — for employees, that is, whose paychecks are getting bigger. Or is it? CNBC stopped short of imaging how those employees receiving higher wages then have to turn right around and buy higher-priced food items. So they aren’t really getting a raise. They might even be going backwards. But I digress.

The desperate, sold-out, government-captured, corporate media propaganda platform then hawked even more “good news”: CNBC assured viewers that inflation is stabilizing now, so you don’t need to worry about that $11 sub costing $22 dollars by the end of the year. Of course, they’ve been claiming that inflation was stabilizing ever since Biden first infested the White House, but don’t hold that against them.

They’re right, this time. If not, they’ll have another complicated explanation for why not.

This almost seems like a cliche, but if a Republican were occupying the White House, inflation would be all that CNBC would be talking about, twenty-four-by-seven, and not in this good, optimistic, seeing-the-bright-side way. It would be the End of the Financial World. Trust me.

This video article, and the other similar ones, is a terrific example of one of the media’s favorite psyops, which they usually deploy in a series of articles. This time, that one viral graphic panicked them and they combined all the stages into one article. Here’s the formula: (1) It isn’t actually happening. (2) It might be happening sometimes but it’s very rare. (3) You should be happy that it’s happening.



 

GURPS

INGSOC
PREMO Member

Red Lobster GOING BANKRUPT SUDDENLY COLLAPSES Closing Over 100 Restaurants In Biden Economy!​









Red Lobster SHUTS 50 LOCATIONS Sparking Fear Of MAJOR Economic Crises Looming, Democrats PANIC​




 
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