Biden's Economy?

[Doctor CamNC4Me]

I wonder if Xanax has bothered to read up on statements by Federal Reserve Chairman Jerome Powell on, you know, inflation and what the causes are and how the Fed is addressing them?

ETA: lol@Xanax reading

- Doc

[Hawkeye]

Veritas Oct 2020 wrote,

The economy just hit 6.5 GDP growth for Q2 after hitting 6.4 for Q1. Looks like this is the greatest economic expansion since 1984.

The economy will get back to where it needs to be and it is already going in the right direction.

Nov. 2020

Wage was growth up a whopping 4.9% in October, effectively nullifying the hysteria over inflation.

Sadly Biden walked into a great economic situation. After putting the economy into an artificial coma due to the scamdemic, all he had to do was stay out of the way and be the house plant he was elected to be. Somehow the Biden administration (Jerome Powell, Sally Yeates etc.) has managed to get us into a recession less than two years later.

[Vēritās]

I wonder if Xanax has bothered to read up on statements by Federal Reserve Chairman Jerome Powell on, you know, inflation and what the causes are and how the Fed is addressing them?

ETA: lol@Xanax reading

- Doc

If it doesn't begin with B and rhymes with or smells like Fart, he doesn't read it.

[Doctor CamNC4Me]

Veritas Oct 2020 wrote,

The economy just hit 6.5 GDP growth for Q2 after hitting 6.4 for Q1. Looks like this is the greatest economic expansion since 1984.

The economy will get back to where it needs to be and it is already going in the right direction.

Sadly Biden walked into a great economic situation. After putting the economy into an artificial coma due to the scamdemic, all he had to do was stay out of the way and be the house plant he was elected to be. Somehow the Biden administration (Jerome Powell, Sally Yeates etc.) has managed to get us into a recession less than two years later.

Xanax > Biden walked into a great economic situation

Also Xanax > Biden somehow ruined the economy which somehow bounced back right before he took office even though Trump was President during the sCaMdEmIc and somehow had a really hot economy despite demonrats killing it, or whatever, it was the best ever, though, because damned why not, but only when typing the word 'Trump'

by the way, Powell, a Republican, was promoted to Chairman by Trump you daft damned retarded idiot.

I'm starting to see why people hate Xanax in real life.

- Doc

[Moksha]

Should the US pledge to assist Russia in reconquering all its former Soviet territory in exchange for guaranteed lower oil prices?

[Doctor CamNC4Me]

Should the US pledge to assist Russia in reconquering all its former Soviet territory in exchange for guaranteed lower oil prices?

Putin could offer to help GOPhers “reclaim their land for a nationalistic ethno state” and he’d have at least 50,000,000 supporters overnight.

eta for our board’s human sandstone:

”I don’t think it's time to taper. I don't think it's time to raise rates. Our policy is well-positioned to manage a range of plausible outcomes." -Jerome Powell October 22, 2021, September 2021 inflation rate: 5.39%

"We understand the difficulties that high inflation poses for individuals and families... Let me say that what's happened, is that inflation is coming higher than expected. We see that just like everyone else does, and we see that they're now on track to persist well into next year... I do think it would be premature to raise rates today." - Jerome Powell November 3, 2021, October 2021 inflation rate: 6.22%

"I'd say that the inflation situation is about the same or slightly worse... It hasn't gotten better and that's been the pattern... What we're learning is it's just taking much longer, and that raises the risk that high inflation will be more persistent."- Jerome Powell January 26th, 2022, December 2021 inflation rate: 7.04%

Clearly the prior Admin along with Their Guy knew their policies were creating high inflation.

- Doc

[Gadianton]

As Powell, a Republican, appeared to do his best to rescue the nation from the 1.7 Trillion loss the St. Louis Fed estimated thanks to Trump (let's go ahead and get that counter reset to zero if it hasn't been done already; Thanks in advance) I doubt he's nearly as stressed about how far he can raise rates under a Democrat without throwing us into a recession.

[Gunnar]

BEYOND PARODY: Fox Says Lower Gas Prices Now Threaten Gas Stations
As I have said before in a previous post, no matter what happens, whether good or bad, the Republicans will try to spin it into a criticism or condemnation of Biden and Democrat policies. After months of lambasting Biden over high gasoline prices, now that those prices are beginning to decline, they are trying to spin this as a bad thing.

--As gas prices decline, Fox News now does a story expressing concern that lower gas prices are bad for locally-owned gas stations

As the Fox hosts pointed out, the prices are actually coming down historically faster than usual with declining oil prices. But they can't admit this is a good thing, because it is happening during a Democratic administration, therefore they are compelled to put a negative spin on it! In truth, though, as David Pakman pointed out, Biden deserves neither blame for the high prices, nor credit for the current decline in prices.

[Moksha]

Putin could offer to help GOPhers “reclaim their land for a nationalistic ethno state” and he’d have at least 50,000,000 supporters overnight.
- Doc

Wait, that would imply that some of the 50,000,000 are right here on this board.

[Hawkeye]

I doubt he's nearly as stressed about how far he can raise rates under a Democrat without throwing us into a recession.

That's a pretty safe statement given we've already been in a recession for over a month now. One can never underestimate how quickly bad economic policy can bring down an economy.