Biden's Economy?

The Off-Topic forum for anything non-LDS related, such as sports or politics. Rated PG through PG-13.
K Graham
God
Posts: 1676
Joined: Wed Oct 27, 2021 6:25 am

Re: Biden's Economy?

Post by K Graham »

Uncle Rico wrote:
Thu Apr 21, 2022 7:46 pm
And stop calling me A-Mike, you dumbass! I want nothing to do with that idiot.
Oh, so this time it really is Mike's wife.
"I am not an American ... In my view premarital sex should be illegal" - Ajax18
User avatar
Doctor CamNC4Me
God
Posts: 8980
Joined: Wed Oct 28, 2020 2:04 am

Re: Biden's Economy?

Post by Doctor CamNC4Me »

Uncle Rico wrote:
Thu Apr 21, 2022 4:17 pm
The economy is the best it's ever been. That's why Joe Bidens pole numbers are at an all time high. In fact, there's no disputing the fact Joe Biden is the smartest American President that's ever occupied the white house. Crime rates are down! Inflation is under control! Gas prices are at an all time low! America has never seen such economic growth like we've had since Biden became President.
Yes, thank you uncle Rico. Thank you for your refreshing common sense that this board’s elitist Liberal cabal echo chamber sorely needs. I was just in Denver for BUSINESS (something the Liberals here obviously don’t understand!) and I noticed how busy everyone is - car dealerships packed, restaurants full, people traveling- and I can’t help but think how much they’re all suffering at the hands of SLEEPY JOE. He doesn’t even KNOW WHO HE IS!

Let’s see if this post stays up.

- Doc
Hugh Nibley claimed he bumped into Adolf Hitler, Albert Einstein, Winston Churchill, Gertrude Stein, and the Grand Duke Vladimir Romanoff. Dishonesty is baked into Mormonism.
Philo Sofee
God
Posts: 5017
Joined: Thu Oct 29, 2020 1:18 am

Re: Biden's Economy?

Post by Philo Sofee »

Kishkumen wrote:
Thu Apr 21, 2022 8:03 pm
Uncle Rico wrote:
Thu Apr 21, 2022 7:46 pm
Just think how professional the oval office will look when Trump takes office and they're able to remove the diaper changing station the secret service installed for Biden when he became President. I bet it will smell a lot better too! 😏
Yeah, Trump's crap only comes out of his mouth and there ain't no diapers for that mess! He'd wear a COVID mask, but the gentle little buttercups who call themselves his MAGA fans would wilt at the sight.
:lol:
K Graham
God
Posts: 1676
Joined: Wed Oct 27, 2021 6:25 am

Re: Biden's Economy?

Post by K Graham »

U.S. consumers, low-income households included, still spending, Bank of America research says
April 13 (Reuters) - U.S. consumer credit and debit card spending so far in 2022 is up 15% on a year earlier, Bank of America research showed on Wednesday, a sign that Americans' gloom about the economy owing to high inflation has yet to translate into lower demand.

In fact, lower-income households - often described as the most vulnerable to an inflation-induced shock - are spending the most relative to their prepandemic outlays, the bank's researchers found.

To be sure, Bank of America Institute researchers said some of that group's spending will reflect high inflation, with March's consumer price index registering an 8.5% year-over-year increase, the highest in over 40 years. Also, such households typically spend a higher share of their budgets on food, gas and utilities, which contributed most heavily to the CPI increase.

"But the level of card spending in this group is still way above pre-pandemic levels: the very latest Bank of America debit and credit card spending per household data shows card spending up 33.3% among the below $50K group in three years to the week of 9th April," they wrote.

Card spending this year through April 8 was 15% higher than in the same period last year.

Surveys such as the University of Michigan's widely followed Consumer Sentiment Index have painted a picture of U.S. consumers who are the most distressed about the economy in more than a decade, often a signal that they may rein in spending.

"But people don't always actually do what they say they are doing – sentiment is not the same as action," the bank wrote.

"The actual hard data does not support the gloom."

Data from the Census Bureau due out on Thursday in fact is expected to show U.S. retail sales rose 0.6% in March from the month before, a Reuters poll of economists shows, which would mark an acceleration from February's increase of 0.3%.

Monthly growth in retail sales averaged 1.4% over the 12 months through February, more than three times the rate that prevailed in the year before the pandemic.

Bank of America researchers attributed the ongoing strength in large part to the U.S. job market. The unemployment rate is 3.6% - roughly where it was before the pandemic - there are nearly two open jobs for every unemployed person and hourly wages are rising at their fastest in years, at an annual rate of 5.6%.

"(B)eneath this already rosy picture, the story is even better at the lower end of the wage distribution," they said. Wages in the lowest-paying industries such as leisure and hospitality are up 11.8% year over year.

Another factor continuing to prop up spending, especially among low-income households, is the cash remaining at their disposal. Bank accounts are still well stocked from higher wages and residual funds from repeated rounds of federal stimulus during the pandemic.

Households with incomes below $50,000 a year have at least $1,500 more in the bank than they did at the start of 2019, a figure that represents 5% of that income group's household spending that year.

"It is hard to reconcile high bank balances and high card spending with the idea that lower income households are being overwhelmed by higher prices," the researchers wrote.
Many U.S. workers are seeing bigger paychecks in pandemic era, but gains aren’t spread evenly
"I am not an American ... In my view premarital sex should be illegal" - Ajax18
User avatar
Gadianton
God
Posts: 3842
Joined: Sun Oct 25, 2020 11:56 pm
Location: Elsewhere

Re: Biden's Economy?

Post by Gadianton »

A-Mike,

Don't forget about this:

“I've been around for a long time. And it just seems that the economy does better under the Democrats than the Republicans. Now, it shouldn't be that way. But if you go back, I mean it just seems that the economy does better under the Democrats,”

--Donald J. Trump, March 21, 2004 :lol:
User avatar
ajax18
God
Posts: 2717
Joined: Tue Nov 03, 2020 9:12 pm

Re: Biden's Economy?

Post by ajax18 »

Gadianton wrote:
Fri Apr 22, 2022 4:44 pm
A-Mike,

Don't forget about this:

“I've been around for a long time. And it just seems that the economy does better under the Democrats than the Republicans. Now, it shouldn't be that way. But if you go back, I mean it just seems that the economy does better under the Democrats,”

--Donald J. Trump, March 21, 2004 :lol:
That was when the globalist RINOs were the Republican party, not economic nationalists.
And when the Confederates saw Jackson standing fearless like a stonewall, the army of Northern Virginia took courage and drove the federal army off their land.
User avatar
Doctor CamNC4Me
God
Posts: 8980
Joined: Wed Oct 28, 2020 2:04 am

Re: Biden's Economy?

Post by Doctor CamNC4Me »

ajax18 wrote:
Fri Apr 22, 2022 7:56 pm
Gadianton wrote:
Fri Apr 22, 2022 4:44 pm
A-Mike,

Don't forget about this:

“I've been around for a long time. And it just seems that the economy does better under the Democrats than the Republicans. Now, it shouldn't be that way. But if you go back, I mean it just seems that the economy does better under the Democrats,”

--Donald J. Trump, March 21, 2004 :lol:
That was when the globalist RINOs were the Republican party, not economic nationalists.
YES! Spot on, Ajax18 (I really love your handle!)! Thank you for posting this HARD TRUTH the ECHO CHAMBER needs to hear. Before President TRUMP came around ALL the WIMP-PUBLICANS didn’t have the COJONES to stand up to the WOKE CROWD. Now FINALLY we have a REAL MAN who tells it like it is. I can’t wait for 2024 to roll around and then maybe we can get back at these TRAITORS.

We’ll see if this post stays up. -_-

- Doc
Hugh Nibley claimed he bumped into Adolf Hitler, Albert Einstein, Winston Churchill, Gertrude Stein, and the Grand Duke Vladimir Romanoff. Dishonesty is baked into Mormonism.
User avatar
Gadianton
God
Posts: 3842
Joined: Sun Oct 25, 2020 11:56 pm
Location: Elsewhere

Re: Biden's Economy?

Post by Gadianton »

Ajax, how is it possible that there had never been a Republican President prior to Trump? How can Trump's presidency define the meaning of a word for hundreds of years prior to Trump's presidency? I think you might have discovered a new informal fallacy but I only got a couple hours of sleep last night so I'll have to reconsider it tomorrow.
User avatar
Some Schmo
God
Posts: 2469
Joined: Wed Oct 28, 2020 3:21 am

Re: Biden's Economy?

Post by Some Schmo »

Gadianton wrote:
Fri Apr 22, 2022 9:58 pm
Ajax, how is it possible that there had never been a Republican President prior to Trump? How can Trump's presidency define the meaning of a word for hundreds of years prior to Trump's presidency? I think you might have discovered a new informal fallacy but I only got a couple hours of sleep last night so I'll have to reconsider it tomorrow.
Wouldn't it just be the ol' No True Scotsman?
Religion is for people whose existential fear is greater than their common sense.

The god idea is popular with desperate people.
User avatar
Gadianton
God
Posts: 3842
Joined: Sun Oct 25, 2020 11:56 pm
Location: Elsewhere

Re: Biden's Economy?

Post by Gadianton »

No true Republican is a globalist? I think you're right, Schmo. The context is a little weird, like being forced to say "No true Scotsman wears a kilt," but that's the length we should expect Ajax to go.
Post Reply