Announcement

Collapse

Civics 101 Guidelines

Want to argue about politics? Healthcare reform? Taxes? Governments? You've come to the right place!

Try to keep it civil though. The rules still apply here.
See more
See less

Biden - greatest 'economic recovery America has ever experienced'

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

  • Biden - greatest 'economic recovery America has ever experienced'

    And now for some humor...

    Biden claims to have created greatest 'economic recovery America has ever experienced'



    President Joe Biden on Monday claimed to have "produced the strongest, fastest, most wide-spread economic recovery America has ever experienced." Biden's remarks come amidst record high inflation, unprecedented supply chain shortages, and an economy on the brink of recession.
    Biden noted that his administration has led in "record jobs, record small businesses and wages rising." However, Biden's jobs numbers often fell far below forecasts last year and began a trend of missing expectations that continued well into 2022.


    Jimmy Carter is jealous!


    The first to state his case seems right until another comes and cross-examines him.

  • #2
    Originally posted by Cow Poke View Post
    And now for some humor...

    Biden claims to have created greatest 'economic recovery America has ever experienced'



    President Joe Biden on Monday claimed to have "produced the strongest, fastest, most wide-spread economic recovery America has ever experienced." Biden's remarks come amidst record high inflation, unprecedented supply chain shortages, and an economy on the brink of recession.
    Biden noted that his administration has led in "record jobs, record small businesses and wages rising." However, Biden's jobs numbers often fell far below forecasts last year and began a trend of missing expectations that continued well into 2022.


    Jimmy Carter is jealous!

    Sequel to his claim that the disastrous Afghan bugout was an "outstanding success" and in his first year he "out-performed"

    I'm always still in trouble again

    "You're by far the worst poster on TWeb" and "TWeb's biggest liar" --starlight (the guy who says Stalin was a right-winger)
    "Overall I would rate the withdrawal from Afghanistan as by far the best thing Biden's done" --Starlight
    "Of course, human life begins at fertilization that’s not the argument." --Tassman

    Comment


    • #3
      - Record low unemployment.

      - Significant wage growth for workers.

      - Groundbreaking unionization drives.

      - Manufacturing jobs returning to the US.

      Certainly a lot of good signs for the US economy.

      Internationally, it's much more of a complex picture with inflation going up around the world due to supply chain issues of goods out of China and Ukraine.

      A lot of commentators seem to agree that the international economy is in a very unusual and difficult-to-predict situation. Most of the traditional markers of economic success seem to be at maximum, but there's a high level of concern that things aren't normal.

      I think to some extent, Covid has taught Western countries not to rely too heavily on immigrant labor, outsourcing manufacturing, and Chinese imports. The result, for the moment at least, seems to be more jobs for locals, and bringing more manufacturing back to Western countries. Which seems, for now at least, all for the good for the West. It seems to be developing nations bearing the impact of covid on their economies, with China's youth unemployment rate getting near 20%, which could be destabilizing for them if it keeps up. Covid seems to have helped Western economies and hurt developing economies.

      In general I am not a big fan of trying to praise / blame politicians for the economy. Because Western deregulated economies are deliberately organized so that little that politicians do affects them, so IMO praising or blaming them for the economy is a bit like doing that for the weather. However, I acknowledge that it's a common practice to praise / blame the politicians, and to that extent, Biden might as well take his victory lap since the US economy is looking good at the moment. The conservative attempts to focus on inflation are pretty hilarious. If this economy was happening under Trump we'd hear them cheering every day for the great economy.

      Comment


      • #4
        Originally posted by Cow Poke View Post
        However, Biden's jobs numbers often fell far below forecasts last year and began a trend of missing expectations that continued well into 2022.
        Seems like an obvious false claim to anyone who's been following things.

        e.g. Fact Check: Ben Shapiro claimed Biden’s job figures from 2021 didn’t beat nonpartisan projections. That’s wrong.

        And that higher-than-predicted growth has continued into 2022, e.g.
        ABC News:

        "According to the Bureau of Labor Statistics, 467,000 jobs were added in January -- much higher than economists' expectations that 150,000 jobs would be added."


        Fox News infamously made clowns of themselves over that jobs report, spending the whole day leading up to it dunking on Biden what they were predicting to be bad numbers, only to be slack-jawed at the high jobs numbers when the report was released. I recall seeing some of the clips from Fox on that and they were pretty funny.

        Comment


        • #5
          Originally posted by Starlight View Post
          In general I am not a big fan of trying to praise / blame politicians for the economy.
          Ah, if only past you held onto such notions:

          Originally posted by Starlight View Post
          It does appear to be a continuation of the success of the Obama economy, yes.

          BLS Unemployment graph:
          [ATTACH=CONFIG]28050[/ATTACH]

          After the disaster crash at the end of 8 years of Republicans in office, the unemployment under Obama recovered steadily across his two terms, and what we are seeing so far 1 year into the Trump term appears to be just a continuation of that.
          Originally posted by Starlight View Post
          It is surprising Trump hasn't yet crashed the US economy like Bush did.

          But Trump has done literally nothing to benefit the US economy, so I don't see any way whatsoever to ascribe to him any credit for inheriting Obama's good economy.
          Originally posted by Starlight View Post
          It's a combination of things. Overall, Obama's handling of the economy has been pretty successful by any measure, and there has been a gradual recovery in all sectors from the Bush-crash. Nonetheless, ignorant conservatives have convinced themselves that Obama=terrible and that therefore the economy under him is really bad, so surveys of the American population's thoughts about the economy have been tainted by these conservatives' ideological beliefs and their disconnection from reality. Now that Trump has won, they have switched to stating their economic confidence is great, because they believe in Trump, and thus their absurd tribalism has resulted in this particularly positive poll result.

          In practice, Trump has been appointing the foxes to guard the hen-houses, and with Goldman Sachs running the treasury, and Exxon-Mobil running foreign affairs, and between that and his crazy ideas to deregulate everything, there will be a big economic bubble. The rich will see a huge opportunity to exploit the poor, so the share market will shoot up temporarily. The economy will look great for a while, before reality sets in and it crashes hard. Trump will leave office amidst the same sort of economic disaster Bush did.

          Apparently this new reluctance to attribute the economy to politicians only applies when the foreign politician you sycophantly suck up to is having issues such as the inflation that is wiping out any wage growth.

          Comment


          • #6
            Originally posted by CivilDiscourse View Post
            Ah, if only past you held onto such notions
            Me 3 years ago...
            Originally posted by Starlight View Post
            Modern politicians have, rightly or wrongly, decided to take a largely hands off approach to the economy and do little to affect its workings, leaving it all to reserve banks to deal with.

            So voting based on how the economy is currently doing is silly, yet people don't seem to understand this, and seem to want to reward / blame politicians for how the economy is doing.
            Yes I tend to be consistent in my views, sorry to disappoint. I understand you are so partisan that it's hard for you to comprehend consistency.

            There are some things politicians can do to affect the economy. So it is reasonable to praise/blame them when they do them and when the outcome of them occurs. But people in general are far too quick to attribute specific economic outcomes to political leaders on occasions when the things have nothing to do with them. e.g. if the leader has been in office for a very short time and not yet passed any economically relevant policies then trying to praise/blame them for the occurrence is silly. e.g. if there is some sort of international trend occurring, trying to attribute praise/blame to the local national leader is silly. But if you can point to a specific political or policy action and show how that is connected with a specific economic outcome, then that is fine.

            Comment


            • #7
              Originally posted by Starlight View Post
              - Record low unemployment.

              - Significant wage growth for workers.

              - Groundbreaking unionization drives.

              - Manufacturing jobs returning to the US.

              Certainly a lot of good signs for the US economy.

              Internationally, it's much more of a complex picture with inflation going up around the world due to supply chain issues of goods out of China and Ukraine.

              A lot of commentators seem to agree that the international economy is in a very unusual and difficult-to-predict situation. Most of the traditional markers of economic success seem to be at maximum, but there's a high level of concern that things aren't normal.

              I think to some extent, Covid has taught Western countries not to rely too heavily on immigrant labor, outsourcing manufacturing, and Chinese imports. The result, for the moment at least, seems to be more jobs for locals, and bringing more manufacturing back to Western countries. Which seems, for now at least, all for the good for the West. It seems to be developing nations bearing the impact of covid on their economies, with China's youth unemployment rate getting near 20%, which could be destabilizing for them if it keeps up. Covid seems to have helped Western economies and hurt developing economies.

              In general I am not a big fan of trying to praise / blame politicians for the economy. Because Western deregulated economies are deliberately organized so that little that politicians do affects them, so IMO praising or blaming them for the economy is a bit like doing that for the weather. However, I acknowledge that it's a common practice to praise / blame the politicians, and to that extent, Biden might as well take his victory lap since the US economy is looking good at the moment. The conservative attempts to focus on inflation are pretty hilarious. If this economy was happening under Trump we'd hear them cheering every day for the great economy.
              Unemployment is so low because so many people aren't looking for work (and hence won't show up as "unemployed") for a number of reasons and many employers are severely short-staffed as a result.

              Those 3% wage increases were more than eaten up by +8% and growing Bidenflation rates. And the idiot's solution to increase government spending and raise taxes.

              Who cares about "unionization drives"? Aside from government unions, unions have been bleeding membership for decades because they are no longer a benefit to the workers.

              Manufacturing was returning under Trump, I've not seen much indication that the trend continued under the duffer.

              Old Joe's open border policies and the millions streaming across puts the laugh to any talk about not relying too heavily on immigrant labor -- but then again, they aren't being brought in for jobs. They are being brought in for votes -- to replace the Hispanics who are turning toward the Republicans in droves because of just the sort of policies leftists such as yourself have implemented.

              I'm always still in trouble again

              "You're by far the worst poster on TWeb" and "TWeb's biggest liar" --starlight (the guy who says Stalin was a right-winger)
              "Overall I would rate the withdrawal from Afghanistan as by far the best thing Biden's done" --Starlight
              "Of course, human life begins at fertilization that’s not the argument." --Tassman

              Comment


              • #8
                Originally posted by Starlight View Post
                Me 3 years ago...
                Yes I tend to be consistent in my views, sorry to disappoint. I understand you are so partisan that it's hard for you to comprehend consistency.

                There are some things politicians can do to affect the economy. So it is reasonable to praise/blame them when they do them and when the outcome of them occurs. But people in general are far too quick to attribute specific economic outcomes to political leaders on occasions when the things have nothing to do with them. e.g. if the leader has been in office for a very short time and not yet passed any economically relevant policies then trying to praise/blame them for the occurrence is silly. e.g. if there is some sort of international trend occurring, trying to attribute praise/blame to the local national leader is silly. But if you can point to a specific political or policy action and show how that is connected with a specific economic outcome, then that is fine.
                Indeed you are consistent.

                AS CD's posts show you will credit politicians you agree with for providing growth in the economy, and according to your post, you'll deny any credit when a politician you disagree with is in office.

                Yup. Consistent.

                And now that old Joe is wrecking our economy by instituting the sort of policies the far left likes, you gotta pretend that the economy is doing great.

                Again. Consistent.

                I'm always still in trouble again

                "You're by far the worst poster on TWeb" and "TWeb's biggest liar" --starlight (the guy who says Stalin was a right-winger)
                "Overall I would rate the withdrawal from Afghanistan as by far the best thing Biden's done" --Starlight
                "Of course, human life begins at fertilization that’s not the argument." --Tassman

                Comment


                • #9
                  Originally posted by Starlight View Post
                  Seems like an obvious false claim to anyone who's been following things.
                  Some of us actually live here.

                  The first to state his case seems right until another comes and cross-examines him.

                  Comment


                  • #10
                    Originally posted by Cow Poke View Post

                    Some of us actually live here.
                    Who are you gonna believe? Your own lying eyes, or star?

                    I'm always still in trouble again

                    "You're by far the worst poster on TWeb" and "TWeb's biggest liar" --starlight (the guy who says Stalin was a right-winger)
                    "Overall I would rate the withdrawal from Afghanistan as by far the best thing Biden's done" --Starlight
                    "Of course, human life begins at fertilization that’s not the argument." --Tassman

                    Comment


                    • #11
                      Originally posted by Starlight View Post
                      - Record low unemployment.

                      - Significant wage growth for workers.

                      - Groundbreaking unionization drives.

                      - Manufacturing jobs returning to the US.

                      Certainly a lot of good signs for the US economy.

                      Internationally, it's much more of a complex picture with inflation going up around the world due to supply chain issues of goods out of China and Ukraine.

                      A lot of commentators seem to agree that the international economy is in a very unusual and difficult-to-predict situation. Most of the traditional markers of economic success seem to be at maximum, but there's a high level of concern that things aren't normal.

                      I think to some extent, Covid has taught Western countries not to rely too heavily on immigrant labor, outsourcing manufacturing, and Chinese imports. The result, for the moment at least, seems to be more jobs for locals, and bringing more manufacturing back to Western countries. Which seems, for now at least, all for the good for the West. It seems to be developing nations bearing the impact of covid on their economies, with China's youth unemployment rate getting near 20%, which could be destabilizing for them if it keeps up. Covid seems to have helped Western economies and hurt developing economies.

                      In general I am not a big fan of trying to praise / blame politicians for the economy. Because Western deregulated economies are deliberately organized so that little that politicians do affects them, so IMO praising or blaming them for the economy is a bit like doing that for the weather. However, I acknowledge that it's a common practice to praise / blame the politicians, and to that extent, Biden might as well take his victory lap since the US economy is looking good at the moment. The conservative attempts to focus on inflation are pretty hilarious. If this economy was happening under Trump we'd hear them cheering every day for the great economy.
                      The country's economy still hasn't gotten back to the levels it was at before the pandemic. Basically the country is trying to recover from a pandemic after two years of the government and people like Biden forcing us to shut down. That people got tired of being shut down and went back to work isn't something for Biden to brag about. It is happening in spite of Biden, not because of him. He is doing everything in his power to keep us under his heel, keeping inflation high, gas prices high, etc.

                      He didn't create jobs, the jobs are coming back after he destroyed them. It's like I cause you to go bankrupt and then when you climb out of the hole I take credit for that and claim I am the one who rescued you.
                      Last edited by Sparko; 06-08-2022, 07:04 AM.

                      Comment


                      • #12
                        Originally posted by Sparko View Post

                        The country's economy still hasn't gotten back to the levels it was at before the pandemic. Basically the country is trying to recover from a pandemic after two years of the government and people like Biden forcing us to shut down. That people got tired of being shut down and went back to work isn't something for Biden to brag about. It is happening in spite of Biden, not because of him. He is doing everything in his power to keep us under his heel, keeping inflation high, gas prices high, etc.

                        He didn't create jobs, the jobs are coming back after he destroyed them. It's like I cause you to go bankrupt and then when you climb out of the hole I take credit for that and claim I am the one who rescued you.
                        Returning to work after the government wouldn't let you is NOT creating new jobs as liberal economists keep pretending.

                        I'm always still in trouble again

                        "You're by far the worst poster on TWeb" and "TWeb's biggest liar" --starlight (the guy who says Stalin was a right-winger)
                        "Overall I would rate the withdrawal from Afghanistan as by far the best thing Biden's done" --Starlight
                        "Of course, human life begins at fertilization that’s not the argument." --Tassman

                        Comment


                        • #13
                          Originally posted by Sparko View Post

                          The country's economy still hasn't gotten back to the levels it was at before the pandemic. Basically the country is trying to recover from a pandemic after two years of the government and people like Biden forcing us to shut down. That people got tired of being shut down and went back to work isn't something for Biden to brag about. It is happening in spite of Biden, not because of him. He is doing everything in his power to keep us under his heel, keeping inflation high, gas prices high, etc.

                          He didn't create jobs, the jobs are coming back after he destroyed them. It's like I cause you to go bankrupt and then when you climb out of the hole I take credit for that and claim I am the one who rescued you.
                          And the "full employment" includes people who have stopped looking for work, and those trapped in low paying jobs because that's all they could get.

                          What the Unemployment Rate Does Not Tell Us

                          KEY TAKEAWAYS
                          • The national unemployment rate is determined as a result of the Current Population Survey (CPS), conducted by the U.S. Bureau of Labor Statistics (BLS).
                          • The true percentage of people who don't have jobs or aren't making enough money is often worse than the official unemployment rate suggests because the Current Population Survey (CPS) doesn't collect certain information from those surveyed.
                          • The CPS report doesn't take into account whether or not workers are employed full-time, if they are underemployed, or if a worker has given up job searching.
                          • CPS does not account for how gender and race impact employment or unemployment.

                          The first to state his case seems right until another comes and cross-examines him.

                          Comment


                          • #14
                            Originally posted by Dimbulb View Post
                            - Record low unemployment.

                            - Significant wage growth for workers.

                            - Groundbreaking unionization drives.

                            - Manufacturing jobs returning to the US.

                            Certainly a lot of good signs for the US economy.
                            I'd love to see some actual data analysis instead of just a list of bullet points plucked from the latest Democrat talking points memo.

                            For instance, that "record low unemployment" is not because of new jobs but because of people returning to work who had been laid off during the pandemic. In addition, the labor force participation rate remains far lower today than it was during Trump's time in office, meaning a significant percentage of people who could be working simply stopped looking for employment which artificially lowers the unemployment figure because it only accounts for people actively looking for work.

                            Civilian labor force participation rate (bls.gov)

                            I don't know where you're getting the idea that wage growth has been significant. Every piece of data I can find shows wage growth for US workers has effectively flatlined at the very best, which coupled with out of control inflation and skyrocketing gas prices really puts the pinch on the middle class who are finding it harder to make their dollars stretch. This is the latest from the Bureau of Labor and Statistics:

                            REAL EARNINGS * APRIL 2022

                            All employees

                            Real average hourly earnings for all employees decreased 0.1 percent from March to April, seasonally adjusted, the U.S. Bureau of Labor Statistics reported today. This result stems from an increase of 0.3 percent in average hourly earnings combined with an increase of 0.3 percent in the Consumer Price Index for All Urban Consumers (CPI-U).

                            Real average weekly earnings were essentially unchanged over the month due to the change in real average hourly earnings combined with no change in the average workweek.

                            Real average hourly earnings decreased 2.6 percent, seasonally adjusted, from April 2021 to April 2022. The change in real average hourly earnings combined with a decrease of 0.9 percent in the average workweek resulted in a 3.4-percent decrease in real average weekly earnings over this period.

                            Production and nonsupervisory employees

                            Real average hourly earnings for production and nonsupervisory employees increased 0.2 percent from March to April, seasonally adjusted. This result stems from a 0.4-percent increase in average hourly earnings combined with an increase of 0.2 percent in the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W).

                            Real average weekly earnings increased 0.2 percent over the month due to the change in real average hourly earnings being combined with no change to the average workweek.

                            From April 2021 to April 2022, real average hourly earnings decreased 2.3 percent, seasonally adjusted. The change in real average hourly earnings combined with a decrease of 0.9 percent in the average workweek resulted in a 3.1-percent decrease in real average weekly earnings over this period.

                            Real Earnings Summary - 2022 M04 Results (bls.gov)


                            I'm not sure what you're referring to with "groundbreaking unionization drives".

                            As for manufacturing jobs returning to the US, there is no evidence this is happening. Again, it just looks like people returning to jobs that were lost during the pandemic. There certainly isn't the concerted effort to bring manufacturing back to the US like we saw from Trump, and in fact, Joe's policies are making US manufacturing a less attractive prospect for companies:

                            (June 2022) President Biden’s plan to lift tariffs on China will do little to ease record levels of inflation while giving Beijing the upper hand in its trade relationship with the United States, according to analysts.

                            Commerce Secretary Gina Raimondo said Sunday that Biden has asked his team to look at the option of lifting some tariffs on China — put in place by former President Donald Trump — as inflation hovers at four-decade highs.

                            But experts say the stopgap measure is short-sighted and will have long-term implications.

                            “The amount of negative impact this will have will last decades if not forever turn the tide of competition with China in favor of China,” Bob Bilbruck, CEO at consulting firm Captjur, told The Post.

                            “What Biden is suggesting by overturning the tariffs to help with inflation is just plain wrong.”

                            When he came into office, Biden reversed some of the hundreds of billions in tariffs levied by the Trump administration — targeting steel and aluminum, and later expanded to include consumer goods like clothing and sporting supplies — against the Communist regime.

                            [...]

                            Bilbruck added: “I would argue we should pass a bill that strengthens manufacturing in the US and bring many of these goods back home to be produced.”

                            Biden slammed for pushing to lift tariffs on China (nypost.com)

                            Contrary to your rosy bullet points, there are certainly a lot of bad signs for the US economy.
                            Some may call me foolish, and some may call me odd
                            But I'd rather be a fool in the eyes of man
                            Than a fool in the eyes of God


                            From "Fools Gold" by Petra

                            Comment


                            • #15
                              Originally posted by Sparko View Post
                              Basically the country is trying to recover from a pandemic after two years of the government and people like Biden forcing us to shut down...

                              He [Biden] didn't create jobs, the jobs are coming back after he destroyed them. It's like I cause you to go bankrupt and then when you climb out of the hole I take credit for that and claim I am the one who rescued you.
                              Sigh... Here's the timeline of US unemployment. I've marked out in nice big letters for you who the president was at which point with some clear black lines separating the presidencies. (The grey shading is part of the graph indicating recession)

                              Can you see that giant spike in unemployment shortly after Jan 2020? Do you understand who's presidency that was during? Trump's. Trying to blame Biden for it is certainly very creative reasoning.

                              Can you spot which part of your claim that "he [Biden] destroyed them [jobs]" is untrue?

                              US unemployment.jpg

                              If you actually look at when Biden was president you'll see at no point in Biden's presidency has unemployment risen substantially.

                              The unemployment rate has dropped throughout Biden's presidency. At no point did "he destroy" jobs as you put it. At no point did he "cause you to go bankrupt" as you put it. Those things occurred under Trump's presidency, not Biden's.

                              Now you can reasonably argue that praising or blaming the politicians these economic effects happened under is a bit like blaming them for weather, given it was a global pandemic. But what you can't reasonably do is say that the bad things that happened during Trump's presidency are Biden's fault.
                              Last edited by Starlight; 06-08-2022, 04:46 PM.

                              Comment

                              Related Threads

                              Collapse

                              Topics Statistics Last Post
                              Started by seanD, Today, 12:30 AM
                              18 responses
                              124 views
                              0 likes
                              Last Post Gondwanaland  
                              Started by Thoughtful Monk, 08-12-2022, 12:39 PM
                              13 responses
                              120 views
                              0 likes
                              Last Post rogue06
                              by rogue06
                               
                              Started by Starlight, 08-11-2022, 01:26 AM
                              109 responses
                              634 views
                              1 like
                              Last Post Stoic
                              by Stoic
                               
                              Started by Bill the Cat, 08-09-2022, 12:30 PM
                              52 responses
                              331 views
                              0 likes
                              Last Post tabibito  
                              Started by Sparko, 08-09-2022, 10:43 AM
                              22 responses
                              160 views
                              1 like
                              Last Post rogue06
                              by rogue06
                               
                              Working...
                              X