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It's a matter of Bidenomics!

Discussion in 'BBS Hangout: Debate & Discussion' started by adoo, Jun 28, 2023.

  1. Amiga

    Amiga 10 years ago...
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    And the trend toward a recesssion continue...

    Super strong job report > Stock drops in anticipation of fed hike

    https://www.cnn.com/2023/07/06/economy/june-jobs-report-preview/index.html

    ADP’s National Employment Report, produced in a collaboration with the Stanford Digital Economy Lab, showed that the private sector added 497,000 jobs last month, far exceeding economists’ expectations for 228,000 jobs and ADP’s May total of 267,000 hires.
     
  2. adoo

    adoo Member

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    In contrast to Invisible Fan's news source on economic issues, this article provides a more succint conclusion

     
    #122 adoo, Jul 6, 2023
    Last edited: Jul 6, 2023
  3. astros123

    astros123 Member

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    There will be no more fed hikes. The fed board is controlled by democrats. If they force us into a recession for no reason and help trump get in power they'll never be respected for the rest of their lives. Fed has to deal with poltiics as well.
     
  4. adoo

    adoo Member

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    for a minute, you had me


    This was from Nov 2021

    Biden renames Powell to lead Fed, risking the left’s wrath
    Jerome Powell — a Republican and a Trump appointee — is expected to easily win confirmation with bipartisan backing.

    [​IMG]

    Jerome Powell is expected to easily win confirmation with bipartisan backing.
     
  5. astros123

    astros123 Member

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    ... you know how the federal reserve works right ? They have fed governors for each region and each governor has voting power over hikes.

    https://en.m.wikipedia.org/wiki/Federal_Reserve_Board_of_Governors

    Democrats have a super majority on the board. There's no way in hell Democrats vote for rate hikes with trump on the ballot. Bullshit
     
  6. astros123

    astros123 Member

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    Construction jobs are at record highs and layoffs are at record lows
     
    #126 astros123, Jul 6, 2023
    Last edited: Jul 6, 2023
  7. astros123

    astros123 Member

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    This is the real story of the year. Power of the worker and unions.
     
    JeeberD and adoo like this.
  8. adoo

    adoo Member

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    Why Bidenomics can defeat Trumpism Over and Over Again



    One part of President Biden’s approach to governing involves Bidenomics, which attempts to lift the economy from the bottom up, not the top down, with prosperity and success reaching society as a whole

    Biden’s seeking of bipartisan allies and partners led to the first two years of his presidency being among the most successful in history. The low jobless rate, declining prescription drugs prices,
    major rebuilding of American infrastructure, significant progress against climate change and other achievements are dramatic and historic.

    The success of Bidenomics — and Bidenism — continued this year with a dramatic victory extending the debt ceiling and the prevention of a global economic crisis. This won the support of
    a long list of Democrats and Republicans, including House Speaker Kevin McCarthy (R-Calif.).

    Democracy has always been at the heart of Biden and Bidenism but is anathema to Trump and Trumpism.

    Biden and Bidenism is what Americans want to govern our country. Trump and Trumpism is what most Americans want to forget.
     
    ROCKSS and astros123 like this.
  9. adoo

    adoo Member

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    The Labor Department’s jobs report for June, released this morning, showed the economy adding 209,000 jobs and the unemployment rate staying at 3.6 percent. This is a slight slowing of recent job growth trends. It would be hard to imagine a better jobs report both for the Biden administration and to temper the Fed’s campaign to douse the recovery. Real wages are up slightly, while inflation keeps subsiding.

    President Biden pointed out in a statement, "This is Bidenomics in action: Our economy added … a total of 13.2 million jobs since I took office. That’s more jobs added in two and a half years than any president has ever created in a four-year term. The unemployment rate has now remained below 4 percent for 17 months in a row—the longest stretch since the 1960s."
     
    astros123 likes this.
  10. Os Trigonum

    Os Trigonum Contributing Member
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    https://www.wsj.com/articles/the-wh...ic-growth-52aaf575?mod=hp_opin_pos_4#cxrecs_s

    The White House Tells the Truth About Climate Change
    A report reveals that global temperature changes barely affects economic growth.
    By Steven E. Koonin
    July 6, 2023 at 6:28 pm ET

    The journalist Michael Kinsley famously noted that “a gaffe is when a politician tells the truth.” By that standard, the White House committed a doozy in March when it released a paper on climate change’s effect on the U.S. economy. Its findings undermine any claims of an ongoing climate crisis or imminent catastrophe.

    The report, produced by the Council of Economic Advisers and the Office of Management and Budget, assesses how the economic consequences of climate change could be integrated into federal budgeting. The report’s first figure—reproduced nearby—shows 12 independent peer-reviewed estimates of how America’s gross domestic product would decline as the global temperature rises.

    im-812023.jpeg

    While the estimates differ, each shows an economic impact of less than a few percentage points for a few degrees of warming. The consensus, apart from two counterbalancing outliers, is that today’s warming of 2.2 degrees Fahrenheit has reduced GDP by less than 0.5%. That is trivial, considering real GDP has grown by more than 800% since 1950. If warming reaches 4.5 degrees—about what the United Nation’s climate panel projects for 2100 under plausible scenarios for future global emissions—the consensus reduction amounts to less than 2%. In other words, if the average annual GDP growth rate is 1.5% for the next 80 years, the economy would grow 232%. A 2% climate-change effect would reduce that growth to 225%. As physicists say, that’s a difference “in the noise.”

    Economic modeling combined with climate modeling can only be described as a doubly dismal enterprise, rife with uncertainties and untestable assumptions. The White House report offers caveats appropriate to its projections, including that the impact estimates are uncertain, that the consequences of climate may be uneven across sectors and regions, that GDP isn’t the only measure of climate’s effect, and that some types of impacts are omitted.

    But, critically, the report also omits America’s amazing capacity to adapt, if not thrive, under a changing climate. The U.S., excluding Alaska and Hawaii, has warmed about 2 degrees Fahrenheit since 1901. Despite that warming, the nation has flourished: Its population has quadrupled, its average life expectancy soared, to 79 years from 48, and its economic activity per capita multiplied around sevenfold. The Intergovernmental Panel on Climate Change projects a comparable warming for early next century, but our nation’s experience should lead us to believe that climate change will be only a minor detriment to national welfare. Even hypothetical tipping points—practically irreversible changes such as disintegration of the Greenland ice sheet—are projected to have only minimal effect on the global economy.

    A later section of the White House report reinforces how little future greenhouse-gas emissions are expected to affect the U.S. economy in coming decades. It projects that today’s “debt-to-GDP ratio” will rise to 111.2% at midcentury if the world is on a path to achieve net-zero emissions by 2075, while it would rise to 112.6% under an equally unlikely high-emissions scenario. There is little doubt that many factors other than climate—such as technology and trade—will be far more consequential for the economy and debt over the next 25 years. The 1.4% difference between these two extreme scenarios is, again, in the noise.

    The report’s authors should be commended for honestly delivering likely unwelcome messages, even if they didn’t make a show of it. The rest of the Biden administration and its climate-activist allies should moderate their apocalyptic rhetoric and cancel the climate crisis accordingly. Exaggerating the magnitude, urgency and certainty of the climate threat encourages ill-considered policies that could be more disruptive and expensive than any change in the climate itself.

    Mr. Koonin is a professor at New York University, a senior fellow at the Hoover Institution, and author of “Unsettled: What Climate Science Tells Us, What It Doesn’t, and Why It Matters.”

     
  11. astros123

    astros123 Member

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  12. pgabriel

    pgabriel Educated Negro

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    Why is this "the truth"? What lie is this truth opposed to?
     
    #132 pgabriel, Jul 7, 2023
    Last edited: Jul 8, 2023
  13. Andre0087

    Andre0087 Member

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    Yea, I saw it earlier. Time will tell though, with this SC we can't assume.
     
  14. Andre0087

    Andre0087 Member

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    lol...have fun with this rabbit hole you're deciding to go down with him...
     
  15. Andre0087

    Andre0087 Member

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  16. astros123

    astros123 Member

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    That's beyond the point. Point is bidens ftc is swinging big. Breaking up Google, taking down amazon, will announce breakup of ticketmaster, they sued meta. They aren't afraid of tackling the big Dawgs. It's the most progressive ftc since fdr times.

    They just won the first airline merger breakup case in the history of the transportation agency

    https://www.washingtonpost.com/transportation/2023/07/05/jetblue-spirit-northeast-alliance/
     
    Andre0087 and adoo like this.
  17. rocketsjudoka

    rocketsjudoka Contributing Member
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    I can attest to this as we have projects that are being delayed and dragged out because of lack of labor
     
    Amiga likes this.
  18. CrixusTheUndefeatedGaul

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    Sounds like this came straight out of N Korea. Lol
     
  19. astros123

    astros123 Member

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  20. adoo

    adoo Member

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    as a result of Trump ill-conceived / ineffective trade war---creating many global supply chain bottlenecks---the inflation floodgate was opened
    add to it, Russia's invasion of Ukraine that drove up the prices of gasoline and bakery goods, the inflation rate proceeded to reach its highest level in 40 yrs,.

    then came Brandon, w his economic stimuli paving the way for Bidenomics, which has reversed the inflatonary trend.

    Biden re-appointed a Trump holdover, Jerome Powell as the Fed chair; they took a 2-prong approach to combat inflation, as wel as continue growing the economy.
    1. raising the discount rate at every FOMC meeting since October 2021, pausing in this past Jun; also selling more securities in the open market urther reducing money supply in circulation
    2. to counter the recessionary effect of less money supply in circulation, pass more economic stimuli, such as the Chips Act and the Infrastructure act.

    In Jun 2023, the US economy experienced the 12 consecutive month of decline in the Consume Price Index.

    [​IMG]

    go Brandon!
     
    #140 adoo, Jul 12, 2023
    Last edited: Jul 12, 2023
    astros123 likes this.

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