The Biden Presidency

Steamy loves to point to Bidens economy as proof that his (Bidens) economic policies are failing whereas everbody else in the real world and not wearing red blinkers understands that Covid is a huge factor. Are we happy about inflation rising, no are we fcuk!

Steamy's Lord & Master the once great and glorious one term President the Mighty Chump predicted an economic disaster if Biden got elected. Well, it's par for the course that it was yet another false declaration from the orange one.

So shouldn't Steamy be happy that the economy DIDN'T collapse? OK, maybe not.

Politico
The very good, not great Biden economy — Let’s be fair. President Joe Biden got a really strong initial second quarter growth estimate at 6.5 percent, annualized. The full year looks to be close to 7 percent and the economy is now slightly bigger than it was before the Covid freeze (though not where it would be absent the pandemic). These are Reaganesque, 1980s boom kind of numbers.

And yet… it came in a full 2 percent below Wall Street expectations, a performance that underscores the forces dragging on growth. And the April-June expansion — which mirrored the lower-than-expected job-creation numbers in recent months — could be the high point for Biden, whose presidency is riding on a robust economic rebound.

WHITE HOUSE KNOWS THE DELTA STAKES — Per a person familiar with White House thinking: “We’ve known since this thing started going around the globe in late 2019 that the most important thing was getting Covid fully under control … If you don’t, you risk further mutations and going back to square one. It’s everything. It’s the whole ballgame.”

White House officials say that while they are concerned with the Delta variant, inflation and labor market issues, they remain confident in the overall direction of the economy.
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(Republicans: Nah, we want to keep Covid around thanks).
 
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Steamy loves to point to Bidens economy as proof that his (Bidens) economic policies are failing whereas everbody else in the real world and not wearing red blinkers understands that Covid is a huge factor. Are we happy about inflation rising, no are we fcuk!

Steamy's Lord & Master the once great and glorious one term President the Mighty Chump predicted an economic disaster if Biden got elected. Well, it's par for the course that it was yet another false declaration from the orange one.

So shouldn't Steamy be happy that the economy DIDN'T collapse? OK, maybe not.

Politico
The very good, not great Biden economy — Let’s be fair. President Joe Biden got a really strong initial second quarter growth estimate at 6.5 percent, annualized. The full year looks to be close to 7 percent and the economy is now slightly bigger than it was before the Covid freeze (though not where it would be absent the pandemic). These are Reaganesque, 1980s boom kind of numbers.

And yet… it came in a full 2 percent below Wall Street expectations, a performance that underscores the forces dragging on growth. And the April-June expansion — which mirrored the lower-than-expected job-creation numbers in recent months — could be the high point for Biden, whose presidency is riding on a robust economic rebound.

WHITE HOUSE KNOWS THE DELTA STAKES — Per a person familiar with White House thinking: “We’ve known since this thing started going around the globe in late 2019 that the most important thing was getting Covid fully under control … If you don’t, you risk further mutations and going back to square one. It’s everything. It’s the whole ballgame.”

White House officials say that while they are concerned with the Delta variant, inflation and labor market issues, they remain confident in the overall direction of the economy.
------------------------------------------------------------------------------------------------------
(Republicans: Nah, we want to keep Covid around thanks).
I would say Trump's prediction is coming true...
 

Philippines restores military deal in win for Biden​


Duterte retracted last year’s termination of the Visiting Forces Agreement, Philippine Secretary of Defense Delfin Lorenzana said at a joint briefing with US Secretary of Defense Lloyd Austin.

The two nations can continue military exercises following the decision, Austin said.

“They agreed that the alliance can be further strengthened through enhanced communication and greater cooperation, particularly in the areas of pandemic response, combating transnational crimes, including the war on illegal drugs, maritime domain awareness, the rule of law and trade and investments,” said the statement that came on Austin’s first official visit to Manila.

Duterte last year moved to terminate the military deal between the two countries, which sets the terms for joint exercises and engagement of US soldiers in the Philippines. The decision, seen as a pivot toward China, was Duterte’s first significant effort to cut defense ties with the US.
 
If only you could see the signs, the interwebs are full of articles discussing the predicament we are in now.

Err... You mean that people with a vested interest in continuing access to cheap money are worried about the rising cost of doing business now, and the price of servicing their debts, if the central banks raise interest rates later.
Which might reduce their dividends and performance bonuses.
To put it bluntly, CEO plutocrats have their agendas, and central banks have their own. Listening to the self licking lollipop of the right wing echo chamber interweb doesn't make them correct.
 
Err... You mean that people with a vested interest in continuing access to cheap money are worried about the rising cost of doing business now, and the price of servicing their debts, if the central banks raise interest rates later.
Which might reduce their dividends and performance bonuses.
To put it bluntly, CEO plutocrats have their agendas, and central banks have their own. Listening to the self licking lollipop of the right wing echo chamber interweb doesn't make them correct.
They are in the business to make money and not go under, if they are preparing for an extended period of rampant inflation they are hedging their bets. The FED will always say things are wonderful, but very few people believe it.
 
.The FED will always say things are wonderful, but very few people believe it.
The Fed and other Central banks are saying nothing of the kind. What they are all saying, for those who PAY ATTENTION, is that there is an immediate inflationary issue, and a probable medium term impact.
They don't expect you, the ignorant pleb, to believe it, or understand it. It is beyond your comprehension because 1) you are ignorant and 2) you are stupid and stuck in an echo chamber.
Not do they care.
They play on a bigger game board than a parochial redneck, or a few tax dodging billionaires.
 
The Fed and other Central banks are saying nothing of the kind. What they are all saying, for those who PAY ATTENTION, is that there is an immediate inflationary issue, and a probable medium term impact.
They don't expect you, the ignorant pleb, to believe it, or understand it. It is beyond your comprehension because 1) you are ignorant and 2) you are stupid and stuck in an echo chamber.
Not do they care.
They play on a bigger game board than a parochial redneck, or a few tax dodging billionaires.
Yes darling.
 
Yes darling.
Why don't you just say
"I can't argue against that, because I can't come up with anything that won't make me look immensely stupid"?
Oh.
You just made yourself look immensely stupid again.
 
In other news which appears to be Covid related and NOT Sleepy's policies but will still make Steamy happy - blue inflation.

The recovery, in fact, has been so rapid, with pent-up demand from consumers driving growth after a year of lockdowns, that one looming risk is a potential spike in inflation that could get out of control. Consumer prices jumped 5.4% in June from a year ago, the sharpest spike in 13 years and the fourth straight month of sizable price jumps.

Some economists have warned that by choosing not to begin withdrawing its extraordinary support for the economy, the Fed may end up responding too late and too aggressively to high inflation by quickly jacking up rates and perhaps causing another recession.

But at a news conference Wednesday, Fed Chair Jerome Powell underscored his belief that recent inflation readings reflect price spikes in a narrow range of categories — from used cars and airline tickets to hotel rooms and auto rentals — that have been distorted by temporary supply shortages related to the economy’s swift reopening. Those shortages involve items like furniture, appliances, clothing and computer chips, among others.

Magnifying the supply bottlenecks is a rise in viral cases at transportation ports in Asia that have caused some manufacturing plants to shut down. Those bottlenecks could, in turn, continue to obstruct the flow of goods to retailers in the United States.

A shortage of workers, too, has made it harder for restaurants, retailers and many other service-industry employers to fill jobs as consumer demand surges — even employers that have been raising wages. Despite the job market’s steady gains, unemployment, at 5.9%, is still well above the 3.5% rate that prevailed before the pandemic struck. And the economy remains 6.8 million jobs short of its pre-pandemic total.

Should the economy’s shortages persist well into the future, the economy would likely struggle to maintain its current robust pace of growth.
Alternatively the Printers are finally switched off, as they're are printing junk.
 

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