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Joe Biden 2022: Enter Dark Brandon

Longboard Horn

By Longboard Horn
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pearlandhorn

pearlandhorn 3269

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1 minute ago, Biff Tannen said:

???

https://www.wsj.com/livecoverage/federal-reserve-meeting-interest-rates-june-2022#:~:text=According to the overnight-index,by the end of 2024.

 

Seen inflation numbers this morning?  A 75 basis point increase given the level of inflation right now is like shooting a BB gun at a freight train.

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pearlandhorn

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5 minutes ago, Biff Tannen said:

I feel like you didn't read the rest of the quote, just the headline.

I did read it.  They're committed to fighting inflation and will continue to raise rates throughout the year.  Yet, the 50/75 basis point increases haven't done anything to stop the rising inflation so far.  Numerous economists have indicated that far larger increases in the prime rate is necessary to stop the growth in inflation.  75 basis point increases aren't the solution.  I'd be surprised if the next increase isn't 100 basis points or higher.

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pepper brooks

pepper brooks 580

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We haven't had a true "market" interest rate since the Clinton administration.  all the folks who claimed the deficit and debt didn't matter are being proven wrong.  Again.  You know shit is bad when the fed no longer can play the currency shell game in order for the government to overspend on votes.  

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elfenix

elfenix 34240

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1 hour ago, pepper brooks said:

We haven't had a true "market" interest rate since the Clinton administration.  all the folks who claimed the deficit and debt didn't matter are being proven wrong.  Again.  You know shit is bad when the fed no longer can play the currency shell game in order for the government to overspend on votes.  

what the government has been overspending on the last 20 years is tax cuts for the wealthy and bombing a bunch of browns overseas, if that drives your vote then that's what you've asked for.

Edited by elfenix
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Vegas64

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2 hours ago, pearlandhorn said:

Just wait until the Fed actually has to do their job and raise interest rates to the point of slowing down inflation.  Unemployment will increase due to businesses having to scale back (you're already seeing large companies ease on their hiring plans through 2023), foreclosures will increase due to people not being able to afford their mortgages, property values will decline as more foreclosures hit the market.  Question is, will Biden still be president when shit hits the fan or will he be heading out of Pennsylvania Avenue in a wheelchair, eating an ice cream cone with his middle finger in the air?

Two years is a lifetime in politics. This could be a long forgotten memory by 2024.

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elfenix

elfenix 34240

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1 hour ago, pearlandhorn said:

Seen inflation numbers this morning?  A 75 basis point increase given the level of inflation right now is like shooting a BB gun at a freight train.

the fed doesn't have any good tools to deal with lockdowns in china, russia getting yeeted out of the global oil market, or yet another arab oil embargo. 

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washparkhorn

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1 hour ago, pearlandhorn said:

I did read it.  They're committed to fighting inflation and will continue to raise rates throughout the year.  Yet, the 50/75 basis point increases haven't done anything to stop the rising inflation so far.  Numerous economists have indicated that far larger increases in the prime rate is necessary to stop the growth in inflation.  75 basis point increases aren't the solution.  I'd be surprised if the next increase isn't 100 basis points or higher.

Inaccurate. We are already seeing demand destruction in home sales. 

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Nice Guy Eddie

Nice Guy Eddie 13512

Posted
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1 hour ago, pepper brooks said:

We haven't had a true "market" interest rate since the Clinton administration.  all the folks who claimed the deficit and debt didn't matter are being proven wrong.  Again.  You know shit is bad when the fed no longer can play the currency shell game in order for the government to overspend on votes.  

Yep. 20+ years of kicking the can down the road will eventually come due UNLESS there is an agreement to slowly adjust it which will never happen.

I'm not going to touch the mess of the Bush years, but both Obama and Trump SHOULD have pushed to have rates slowly raised but that would have hurt them politically. In theory the Fed is independent but not when the Fed is appointed by the President.

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washparkhorn

washparkhorn 9939

Posted
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1 hour ago, pepper brooks said:

We haven't had a true "market" interest rate since the Clinton administration.  all the folks who claimed the deficit and debt didn't matter are being proven wrong.  Again.  You know shit is bad when the fed no longer can play the currency shell game in order for the government to overspend on votes.  

You are conflating fiscal policy (e.g., military spending is a huge nut) with monetary policy.  

Current inflation issues are a supply side problem (cost-push inflation) and not demand-pull inflation. The cure is demand destruction until the supply side issues normalize. Inflation stickiness is a major risk, which is why the Fed will risk a recession to defeat inflation. 

As for currency, the USD remains the safest   reserve currency, much to the chagrin of countries like Russia, China and Iran. It’s position has only been improved under the current administration. We always pay our bills (with USD accepted worldwide) and we carry a big stick with our military. Again, our world standing in this area has only improved under the current administration.
 

Had the right wing coup succeeded on January 6, the USD would be trash. 

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What the hell is going on at the border? Abbott is playing wild west out there, there is a definite surge in crossings, and Biden is just saying/doing nothing?

The rhetoric of "they aren't sending their best" and let's lasso them from horseback is complete bullshit. But it's also bullshit to seemingly ignore the issue altogether.  

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elfenix

elfenix 34240

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Posted (edited)
2 hours ago, FirstTimeCaller said:

What the hell is going on at the border? Abbott is playing wild west out there, there is a definite surge in crossings, and Biden is just saying/doing nothing?

The rhetoric of "they aren't sending their best" and let's lasso them from horseback is complete bullshit. But it's also bullshit to seemingly ignore the issue altogether.  

 
someone is doing some ignoring but i don't think it's biden:

 

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StassneyHorn

StassneyHorn 6576

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9 hours ago, pearlandhorn said:

Just wait until the Fed actually has to do their job and raise interest rates to the point of slowing down inflation.  Unemployment will increase due to businesses having to scale back (you're already seeing large companies ease on their hiring plans through 2023), foreclosures will increase due to people not being able to afford their mortgages, property values will decline as more foreclosures hit the market.  Question is, will Biden still be president when shit hits the fan or will he be heading out of Pennsylvania Avenue in a wheelchair, eating an ice cream cone with his middle finger in the air?

 

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bolverk

bolverk 29672

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1 hour ago, Dutchrudder said:

How is "smart border technology" a wall?  Is it a smart wall that has Alexa built-in?  

I'd personally put much more faith into the efficacy of "smart border technology" comprised of drones with IR cameras to monitor a 2,000-mile border than a "dumb medieval barrier" that can be scaled with a fucking ladder in the dark.

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CooterBrown

CooterBrown 18012

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Hypothetically, when would be the best time to announce he's not running in 2024?

Inauguration Day. He could have pushed a really aggressive agenda with none of the blowback really mattering at all to the ‘24 candidate. I mean, if he wasn’t Joe Biden. No way Biden would’ve done anything progressive even if he had a 100% approval rate and a super majority in Congress.
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pepper brooks

pepper brooks 580

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On 7/13/2022 at 10:28 AM, elfenix said:

what the government has been overspending on the last 20 years is tax cuts for the wealthy and bombing a bunch of browns overseas, if that drives your vote then that's what you've asked for.

the fact that you think people/businesses keeping more of the money they earned is a "government overspend" is certainly proof you need to refrain from commenting on anything regarding finance.  You're a fucking imbecile plain and simple.  My point remains that we have not had a true market interest rate since the Clinton admin.  You either understand that, or you do not.  Based on your last response i will assume you do not.  it's okay, that bast majoroity of americans including many in congress and on the finance committe don't understand it either.  That shit was going to come back to haunt us at some point and here we are.  Unfortunately we have a demented imbecile in the white house surrounded by ignorant igealogued who have no idea what action could be undertaken in this situation.    

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Longhorn_Fan68

Longhorn_Fan68 33870

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4 minutes ago, pepper brooks said:

the fact that you think people/businesses keeping more of the money they earned is a "government overspend" is certainly proof you need to refrain from commenting on anything regarding finance.  You're a fucking imbecile plain and simple.  My point remains that we have not had a true market interest rate since the Clinton admin.  You either understand that, or you do not.  Based on your last response i will assume you do not.  it's okay, that bast majoroity of americans including many in congress and on the finance committe don't understand it either.  That shit was going to come back to haunt us at some point and here we are.  Unfortunately we have a demented imbecile in the white house surrounded by ignorant igealogued who have no idea what action could be undertaken in this situation.    

boy, if that's your opinion on the current guy I can't wait to hear your review of his predecessor. also, since you're clearly not an imbecile I thought you should know how to spell the following: vast, majority, committee, ideologues. you're welcome

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DixonHur

DixonHur 11304

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8 minutes ago, pepper brooks said:

Unfortunately we have a demented imbecile in the white house surrounded by ignorant igealogued who have no idea what action could be undertaken in this situation. 

News flash:  Trump is no longer in the White House

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Dahobbs

Dahobbs 17534

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32 minutes ago, pepper brooks said:

the fact that you think people/businesses keeping more of the money they earned is a "government overspend" is certainly proof you need to refrain from commenting on anything regarding finance.  You're a fucking imbecile plain and simple.  My point remains that we have not had a true market interest rate since the Clinton admin.  You either understand that, or you do not.  Based on your last response i will assume you do not.  it's okay, that bast majoroity of americans including many in congress and on the finance committe don't understand it either.  That shit was going to come back to haunt us at some point and here we are.  Unfortunately we have a demented imbecile in the white house surrounded by ignorant igealogued who have no idea what action could be undertaken in this situation.    

I find it hilarious that the self-proclaimed really smart guy, @fattyflattie, +repped this unintelligible, error-ridden drivel. 

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elfenix

elfenix 34240

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Posted (edited)
2 hours ago, pepper brooks said:

the fact that you think people/businesses keeping more of the money they earned is a "government overspend" is certainly proof you need to refrain from commenting on anything regarding finance.  You're a fucking imbecile plain and simple.  My point remains that we have not had a true market interest rate since the Clinton admin.  You either understand that, or you do not.  Based on your last response i will assume you do not.  it's okay, that bast majoroity of americans including many in congress and on the finance committe don't understand it either.  That shit was going to come back to haunt us at some point and here we are.  Unfortunately we have a demented imbecile in the white house surrounded by ignorant igealogued who have no idea what action could be undertaken in this situation.    

buying votes is buying votes.  the only significant changes in our fiscal posture since the clinton years is the vote buying tax cuts for billionaires and a couple of major overseas wars. 

as to interest rates, the government has been manipulating them since before either of us was alive, so claiming that one set of rates is market and another isn't, is, well, foolish.

Edited by elfenix
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fattyflattie

fattyflattie 4639

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On 7/14/2022 at 1:06 PM, Dahobbs said:

I find it hilarious that the self-proclaimed really smart guy, @fattyflattie, +repped this unintelligible, error-ridden drivel. 

A few misspelled words in a paragraph full of truth doesn’t make the message error ridden.  I don’t recall calling myself smarter than anyone other than that Hobbes fuck, that clearly has some cerebral deficiencies.  You seem mad. Maybe visit the Texpatriates thread and let off some steam. 

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3 minutes ago, TheStoicPaisano said:

Copped that Covid. Get well soon!

I will say that it is a positive that when the previous president got Covid, it was stop the presses -- "we break into your regular programming to watch his helicopter land back at the White House" news. Now, it definitely makes headlines, but does anyone realistically expect that he might die from it?

I guess in summation, fuck Covid.

 

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immamac

immamac 42850

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25 minutes ago, FirstTimeCaller said:

I will say that it is a positive that when the previous president got Covid, it was stop the presses -- "we break into your regular programming to watch his helicopter land back at the White House" news. Now, it definitely makes headlines, but does anyone realistically expect that he might die from it?

I guess in summation, fuck Covid.

 

I for one would welcome Kamamala as our new overlord. 

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Goredho

Goredho 17406

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Posted (edited)
20 hours ago, Biff Tannen said:

Is this purely the economy?

Yes.  Biden is being successfully pinned with $5 gas, inflationary price increases for everything, housing unaffordability, stock market reactions to rising interest rates, company downsizing in response to recession fears, baby formula shortages, etc...  64% of the people in this country have zero savings and are living paycheck to paycheck.  They are experiencing severe economic pain and are being told Biden is why.  For his part, Biden has not effectively given them a reason to believe that he understands their pain and will improve it.

There are going to be a shit ton of voters in 2022 and 2024 who are going to vote for any alternative to the status quo based solely on the fact they are now struggling to afford the standard of living that they have been used to.

Edited by Goredho
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Biff Tannen

Biff Tannen 45685

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2 minutes ago, Goredho said:

There are going to be a shit ton of voters in 2022 and 2024 who are going to vote for any alternative to the status quo based solely on the fact they are now struggling to afford the standard of living that they have been used to.

This is really my fear.  Any chance we had of avoiding an authoritarian hell hole (which was fairly small anyway) is going to be steamrolled by economic worries, unfounded or not.  Awesome.

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Nice Guy Eddie

Nice Guy Eddie 13512

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12 minutes ago, Goredho said:

Yes.  Biden is being successfully pinned with $5 gas, inflationary price increases for everything, housing unaffordability, stock market reactions to rising interest rates, company downsizing in response to recession fears, baby formula shortages, etc...  64% of the people in this country have zero savings and are living paycheck to paycheck.  They are experiencing severe economic pain and are being told Biden is why.  For his part, Biden has not effectively given them a reason to believe that he understands their pain and will improve it.

There are going to be a shit ton of voters in 2022 and 2024 who are going to vote for any alternative to the status quo based solely on the fact they are now struggling to afford the standard of living that they have been used to.

I don't buy that 64% of the public is experiencing severe economic pain. At least due to the current problems that we're facing. 

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