An admission by the Sahm rule manufacturer “Indicators of economic downturns like the Sahm rule are empirical regularities from the past, not laws of nature,” “It's not like an economic rule, where it's telling you something must happen.”
while the other guy lost 2.9 million jobs, as well as increasing unemployment from 4.7% to 6.3% under his watch, team Biden/Harris has created over 14 million jobs and lowered unemployment to the current 4.3%
You guys love fact checks, don't you? https://www.factcheck.org/2024/02/bidens-job-growth-chart-ignores-impact-of-pandemic/ So disingenuous to act like the jobs coming back after Covid had anything to do with Biden. Also - do you format your posts on a Palm Pilot?
so diingenuous of you to conveniently ignored that Trump, despite having a GOP-controlled Congress, failed to pass an infrastructure bill that he had campaigned for.. had he put forth the effort to come out w a plan, Congressed would have passed it automatically. Trump failed. Biden, despite not having a majority in Congress, worked hard to get the infrastructure bill passet, which led to many jobs
I agree they a lot of the job growth under Biden was due to coming out of the pandemic but that would also mean that a lot of the inflation was also due to coming out of the pandemic.
Close. A lot of the inflation was due to the massive government spending that was part of the strategy of both Trump and Biden to deal with the pandemic. Government spending in 2020 and 2021 was more than $2 Trillion higher than in 2019 (roughly a 45% increase from 2019 to 2020). That's $2 Trillion more chasing roughly the same or less goods and services.
Yup you can look back in the threads few years back people trying to explain the concept of supply chain constraints. These concepts are so basic that it makes you wonder if these people aren't expressing a sincere thought in their mind.
No... It was always supply chain constraints. Anyone worked in any level of manufacturing during covid knows this.
your are wrong again. the one-two punch has been the ill-conceived trade war started by Trump, causing global supply chain bottlenecks Russia's invasion of Ukraine which directly raised the prices of grains/cereall and gasoline thanks for the corroboration that you have no idea what ur talking about. a primer in economics for S Moniker, economics is based on the daily activities of a nation, which are always changing and evolving your ignorance is such that you assume that it is static.
I have to laugh every time @adoo acts like he actually has a clue when it comes to economics. Furiously formatting posts on his palm pilot, acting like he has a community college MBA, but it's clear he doesn't even have that.
A general overall measure of the produced goods and services of the nation is the GDP, which was down slightly in 2020 and 2021 from 2019. It isn't that I assumed it was static, it is that I knew it was roughly the same or less.
doubling down on your willful ignorance. FYI, US’s GDP has grown every quarter of every year since year 2 of Obama’s first term, at the rate of ~~1.5 to 2% per annum. translation, you just made that false assumption again. thank you for making it so easy for me to point out your willful ignorance!
Federal Spending | U.S. Treasury Fiscal Data I mean, you can reject the United States Treasury if you like, but clearly they think GDP was lower in 2020 than it was in 2019 (slightly higher in 2021). For those who don't want to be bothered clicking the link: 2019 was $25.42T, 2020 was $25.09T, and 2021 was $25.65T. So, as I said, roughly the same or less. For those like @adoo that are mathematically challenged, GDP cannot increase every quarter if it is less in 2020 than in 2019. Do you ever get tired of me giving you links that prove how stupid you are?
You should admire them stealing from your playbook to be honest. It's no more disingenuous to blame inflation on Biden then it is to blame unemployment on Trump. Well, actually, Trump was pretty terrible in managing the crisis. But economists agree that Biden had little control over inflation which was the result of a massive supply crunch, a massive amount of lockdown savings hitting the market, and tariffs. I wonder who put those tarriffs into place? So yeah, one bs argument deserves another.
lol dumbass. its not a loophole. Its the fundamental ideas behind free markets. Employees are low risk - low reward. Small business owners are medium risk - medium reward. Learning how to network and going all in is high risk - high reward. People who can massively leverage their equity tend to create, regardless if you're Musk or Bezos or Zuckerberg or Gates.
The guy on the right also has to pay the money back to the bank, with interest. They aren't just giving him a million dollars. You don't have to pay taxes on what you charge on your credit card either, because it is not a net accession to wealth. If you are being paid by receiving shares directly, you have to pay income tax on the fair market value of the awarded shares when they vest. Stock options you are buying, so you pay only on the gains, typically at time of sale. So, this is not so much a loophole as it is a person with more assets having a much easier time borrowing money.
