and invisible has shown to be an economic illiterate pretending that he is an economist, by parroting such half-azzed / piecemeal disjointed BS as the Fed exploding its future balance sheet the Fed wrecking its balance sheet
Long recognized as America's banker, Jamie Dimon has forgotten more about finance/economics than i am ever gonna learn. Dimon readily admits that he doesn't know the full effect of QE, makes no blanket assertions, such as these (out of context) gems parroted by invisible The Fed exploding the growth of its balance sheet wrecking its balance sheet Dimon also does not resort to intellectually dishonest / sleigh-of-hand tactics to make a cheap point, such as these gems parroted by invisible "how the Fed juiced up housing prices" "exploding it's future balance sheets with QE" blaming the Fed, but not Congress, for deficit spending
The most liquid of the financial markets, The Bond Market, is betting on rate cuts coming soon Bond market trading actions suggest that Fed's soft-landing is on track, https://www.barrons.com/articles/bonds-fed-stock-markets-what-to-know-today-73e121a9 Jamie Dimon is less optimistic of a soft landing---suggesting that investors have already priced in a 70-80% chace of such a goldilock--- he opines that it is a lot less than that that's what makes markets, traders expressing thier divergence of views. none of that meaningless / blanket assertion so often parroted by Invisible, such as the fed wrecking its balance sheet exploding its future balance sheet
an illustrative eg of a media outlet publishing intellectually dishonest article and Invisible parroting it and present it as gospel the Fed's dual mandate has been to promote stable prices and high employment. yet, the intellectually dishonest author would have people to believe it is responsible for the housing prices and managing balance sheet; the economic illiterate falls for it hook and sinker ! ¯\_(ツ)_/¯
The biggest disconnect that the democrats in Washington (and some of the Republicans) have is that they do not understand how big a deal inflation is for the middle class and lower class is, especially in the short run - and after a period of there not being a lot of inflation. The Democrats can point to the increased minimum wage, and the low unemployment rate and growth rate - but that doesn't overcome the fear and concern over the lack of knowing what the cost of goods and services will be even 6 months away. When you rent is going up every single year by hundreds of dollars a month, when gas fluctuates as much as a dollar a gallon, when groceries are so up and down - people living in debt and from paycheck to paycheck don't feel secure, even if their income comes up some. Same with people on social security - and if Biden loses the election it won't be because of Trump or Ukraine or Israel or "woke" - it will be because people are desperate.
Record high inflation and Record high Profits is incompatible That means someone is Price Gouging Rocket River
What people are concerned about is cost. It doesn't matter if inflation is slowing now. Joe Public doesn't care. Joe Public costs are way up for lifes staples like rent, cars, insurance, groceries, fast food etc etc. Any adult who operates in this world has seen and felt all of this. A fast food meal these days is $20. Quality and size of products are down as well. "Shrinkflation." Everyone is getting squeezed to hell. It's insane. Democrats can talk until their blue in the face about unemployment numbers or the stock market but the overriding consideration for the vast majority of people are the aforementioned costs. And it doesn't matter if it's Biden's "fault" or not, he's the dude in office and he's the dude who pays the political price for being in office while Joe Public's costs go up so much.
you just contradicted yourself. if the 2012 election is any indication, you are wrong Obama lifted the US out economic hell that W created; his admin created many /many jobs, brought down unemplyment rate. despite poor debates against Romney, Obama won re-election. people remember the many jobs he created, relative to his predecessor it could be "deja vu all over again"
Inflation is just a bigger boogeyman than higher unemployment because it affects more people. Objectively, the bottom and lower middle class have been seeing the most wage growth and job gains but that doesn’t take the sting away from inflation. I wouldn’t say we are in a blue collar boom though.
I think Biden’s issue is that he’s a poor communicator and has let the narrative be absolutely dictated by the opposition. He was never going to convince most folks but he could have done a much better job at messaging.
Hindsight is always 20/20. Of course mistakes were made but I think the response to Covid was much better than the Financial Crisis. As Ive argued, Infrastructure, CHIPs, green tech legislation is stuff that should have been happening right after the Financial Crisis. However, this was stuff that all had to happen eventually. I still view the debt as something more political…. Raise taxes in places and reform entitlements. What your are spending the money on is more important than the amount IMO.
Last time I looked, the wealthiest small sliver of Americans are getting the most. There is no doubt that increases in minimum wage and increases in public safety nets help the poor and the lower blue collar - but it doesn't happen in a vacuum. Employers and the market try to find other ways to squeeze, and that causes issues for these same people - as they also must pay the higher cost of non luxury things, such as food, fast food, cars, gasoline and housing - and it hits them disproportionate. To be clear, I don't have an easy answer - but right now it is like a pool with waves, at some point it will stop but not yet. I can see a small business owner that has profited off of law wages getting upset and voting for Trump, because he/she now has to pay more to his employees in wages and benefits, and he has to pay more for the staples he sells - and he hears his clients complain about the costs...... I can see someone in a blue-collar job in a labor union in the Midwest see that it now costs him $40 to take his wife and kid to a drive thru restaurant and blame the current President.
In terms of total assets yes, but this is pretty much always the case. Also the recent push into reshoring and building up supply chains here…. Which means we need to construct a lot of new stuff from factories to infrastructure. Those major legislative bills aren’t just a year or two push but something that will last for the rest of the 2020s. I won’t argue that people tend to not look at the big picture but Biden’s biggest weakness has been communication. He was never given to win over a majority folks on inflation but he has completely let the opposition dictate the narrative.
It isn't about communication - he could be Abraham Lincoln and it doesn't change the fact that we are coming off of 25 years of wars in the Middle East, we are coming off of COVID, on the news we see everything sensationalized and through a particular lens....... and when people go to fill up their tank, gas is $4.50 a gallon, that it is $10-15 for a Fastfood meal... that those renting are constantly seeing their rent costs increase.... that the average American has poor credit, and more and more places are requiring good credit......... and then what is the focus politically? Idiots storm the Capitol for a man that is a POS, they see Joe Biden and his surrogates telling Americans that the economy is good, they see the focus on people in the Middle East, the war in Ukraine and social issues. This has little to do with Biden, or his accomplishments - this has to do with an emotionally tired America that has been run ragged the last 20 years, emotionally and financially - and now is seeing some of the stability it relied on, no longer being stable anymore. If you are wealthy - or you are very well educated and make a good salary, then the economy is great - and if you are very poor and make minimum wage, then you are arguably doing better as well - its that lower middle class and middle class and younger Americans that see with their own eyes that things are not so stable or great - and that can be enough to sway an election. Most Americans know Trump is a POS but some will say they will risk it because they don't like the standard quo.
Right - but in the case of minimum wage and other requirements - who has paid the highest for increased costs? it isn't those with the increased minimum wage and it isn't the wealthy that do not care if it costs them an extra $3 for a hamburger. I don't doubt this - I don't disagree with a lot of what Biden has done. Long term, I expect it to pay off. However in the short term it can kill him politically. I don't think so - there is nothing that Biden can say that will change the fast that it costs a lot more to fill up their gas tanks, that to feed you and your family it is more expensive, that rent is out of control.... and it is not just a few things, it is across the board - The truth is - there isn't a whole lot he can say, swing voters don't care - it is what they have to live with. Would charisma help? Sure, it helps on the margin like in the second Obama election or Bush II, but those are marginal.
It doesn't sound like a conspiracy theory when it comes from Dimon, does it? We can talk about hindsight all day, but it's more about holding some form of accountability against the Fed. This policy shift into annual trillionS dollar deficit spending is not a good thing for many reasons, and signals a deeper paralysis or despair in the current political system. If you want a shiny red car because it can drive you to work and do many other Economic Benefits, you still have to find a way to finance your purchase over paying the minimum CC balance. We've punted entitlements since Clinton wanted to Save Social Security. There isn't an honest discussion about it, where cutting benefits is now akin to making a stone bleed and eating the rich is not a serious discussion from either party. Paying off a trillion dollars in Interest Only debt payments that already overshadows defense spending (makes Ukraine debate sound petty) is like a doctor warning the patient of a quadruple bypass. Meh, I'll cut back on the Dr. Peppers. Yup. It's been a K-shaped economy post-GFC. The poor get eaten first, but when they vote for the next guy promising to save them, the upper quartile always seem eager to jump in and chide them for their shortsighted foolishness. America's growing inequality gap isn't an academic discussion that lives in a vacuum.
once again, you're confused, all mixed up. for the unteeth time, Invisible, Congress has responsiblity for spending, not the fed
