Joe Biden 2022: Enter Dark Brandon

[Poe It Up 126]

5 minutes ago, Incredulity said:

Thank God, The Flying Spaghetti Monster, St. Bernie, Your Fauci Prayer Candle or whatever personal deity you pray to that Dank Brando and the Democrats had the crystal clear insight and vision to pass the Inflation Reduction Act.  Can you IMAGINE how bad this could be?

 

https://www.cnbc.com/2022/10/13/consumer-price-index-september-2022-.html

ECONOMY

Inflation increased 0.4% in September,

 

 Core inflation was up 6.6% from a year ago, the biggest 12-month gain since August 1982.

 

The Inflation Increasing Act doesn’t have the same ring to it. 

[Guest]

39 minutes ago, Incredulity said:

Thank God, The Flying Spaghetti Monster, St. Bernie, Your Fauci Prayer Candle or whatever personal deity you pray to that Dank Brando and the Democrats had the crystal clear insight and vision to pass the Inflation Reduction Act.  Can you IMAGINE how bad this could be?

 

https://www.cnbc.com/2022/10/13/consumer-price-index-september-2022-.html

ECONOMY

Inflation increased 0.4% in September,

 

 Core inflation was up 6.6% from a year ago, the biggest 12-month gain since August 1982.

 

If you're going to blame Dems for inflation, then I trust you're also going to credit them for 3.5% unemployment and highest number of workers ever? 

I lean that Biden/Dems don't really deserve too much credit/blame for either, just get tired of hearing "Biden inflation" but silence on the employment stats. And the fact that inflation is hot literally around the world.

[Incredulity 11861]

3 minutes ago, FirstTimeCaller said:

If you're going to blame Dems for inflation, then I trust you're also going to credit them for 3.5% unemployment and highest number of workers ever? 

I lean that Biden/Dems don't really deserve too much credit/blame for either, just get tired of hearing "Biden inflation" but silence on the employment stats. And the fact that inflation is hot literally around the world.

from the right wing lunatics at VOX.

https://www.vox.com/23036340/biden-american-rescue-plan-inflation

The checks were another issue. Birthed out of a political promise Democrats made to one-up Trump and try to win the Georgia Senate runoffs, the checks totaled about $400 billion in spending, and some of them went to families whose finances were already in fine shape. Giving money to people who don’t need it isn’t necessarily a bad thing in and of itself. But if the consequences are higher inflation and economic woes affecting everyone, well, it is a big deal.

Now, Democrats had many good intentions in drafting the American Rescue Plan — they wanted to help people and avert economic pain. And they had some successes, like low unemployment and strong GDP growth. But wages haven’t kept up with prices. And if this results in significantly worse economic problems in 2022, 2023, and 2024, not to mention electoral consequences for Democrats, it’s unclear whether it would have been worth it.

 

[Guest]

So, no?

You want to complain about inflation but completely gloss over unemployment and number of people working? If you want to blame Biden/Dems, fine. I can see the argument. It's not crazy.

But I just don't think you can use it to complain about and then not acknowledge that the unemployment is 3.5%. If the unemployment rate was 6%, I'd bet that inflation would be a lot tamer. So I guess you can complain that Biden/Dems are causing inflation because too many people are working.

Fed is doing its best to fix that.

 

[Longhorn_Fan68 34081]

20 minutes ago, FirstTimeCaller said:

If you're going to blame Dems for inflation, then I trust you're also going to credit them for 3.5% unemployment and highest number of workers ever? 

I lean that Biden/Dems don't really deserve too much credit/blame for either, just get tired of hearing "Biden inflation" but silence on the employment stats. And the fact that inflation is hot literally around the world.

nah man, the dems caused 100% of the problems in this country in the last 2 years. I mean, just look, Abbott eliminated rape in Texas and yet here we are. 100% Biden and the Dems. quit being woke and be.... whatever the opposite of that is supposed to be. sheep.

[Js1 86967]

3 minutes ago, FirstTimeCaller said:

So, no?

You want to complain about inflation but completely gloss over unemployment and number of people working? If you want to blame Biden/Dems, fine. I can see the argument. It's not crazy.

But I just don't think you can use it to complain about and then not acknowledge that the unemployment is 3.5%. If the unemployment rate was 6%, I'd bet that inflation would be a lot tamer. So I guess you can complain that Biden/Dems are causing inflation because too many people are working.

Fed is doing its best to fix that.

 

Biden has also caused worldwide inflation. Just can’t stop hitting that damn button. 

[Guest]

1 minute ago, Longhorn_Fan68 said:

nah man, the dems caused 100% of the problems in this country in the last 2 years. I mean, just look, Abbott eliminated rape in Texas and yet here we are. 100% Biden and the Dems. quit being woke and be.... whatever the opposite of that is supposed to be. sheep.

The Abbott ad with the hydraulic press crushing things because of Biden and Beto inflation told me so. (Pretty good ad, tbh.)

[Incredulity 11861]

5 minutes ago, FirstTimeCaller said:

ut I just don't think you can use it to complain about and then not acknowledge that the unemployment is 3.5%. If the unemployment rate was 6%, I'd bet that inflation would be a lot tamer. So I guess you can complain that Biden/Dems are causing inflation because too many people are working

Labor Force Participation.  How does it work?

[Guest]

Just now, Js1 said:

Biden has also caused worldwide inflation. Just can’t stop hitting that damn button. 

If you want to consider the Federal Reserve under Biden as part of his "regime," then you could argue that no administration has done more to combat inflation. I personally don't.

Shit's borked and it will take some time to unwind. It's not one person's fault and to say otherwise is disingenuous. 

[Longhorn_Fan68 34081]

1 minute ago, FirstTimeCaller said:

If you want to consider the Federal Reserve under Biden as part of his "regime," then you could argue that no administration has done more to combat inflation. I personally don't.

Shit's borked and it will take some time to unwind. It's not one person's fault and to say otherwise is disingenuous. 

oh man, that's way too reasonable and even-handed for today's politics. if you don't have someone to blame for all your problems then what do you have?

[sidis 9990]

29 minutes ago, Incredulity said:

from the right wing lunatics at VOX.

https://www.vox.com/23036340/biden-american-rescue-plan-inflation

The checks were another issue. Birthed out of a political promise Democrats made to one-up Trump and try to win the Georgia Senate runoffs, the checks totaled about $400 billion in spending, and some of them went to families whose finances were already in fine shape. Giving money to people who don’t need it isn’t necessarily a bad thing in and of itself. But if the consequences are higher inflation and economic woes affecting everyone, well, it is a big deal.

Now, Democrats had many good intentions in drafting the American Rescue Plan — they wanted to help people and avert economic pain. And they had some successes, like low unemployment and strong GDP growth. But wages haven’t kept up with prices. And if this results in significantly worse economic problems in 2022, 2023, and 2024, not to mention electoral consequences for Democrats, it’s unclear whether it would have been worth it.

 

this is, of course, wildly out of date and not reflective of the present conditions.

see below for more up-to-date data on this issue:

https://www.ft.com/content/088d3368-bb8b-4ff3-9df7-a7680d4d81b2

 

13 minutes ago, Incredulity said:

Labor Force Participation.  How does it work?

by steadily increasing from late 2020 to today?

https://fred.stlouisfed.org/series/CIVPART

 

[Incredulity 11861]

33 minutes ago, sidis said:

this is, of course, wildly out of date and not reflective of the present conditions.

see below for more up-to-date data on this issue:

https://www.ft.com/content/088d3368-bb8b-4ff3-9df7-a7680d4d81b2

 

by steadily increasing from late 2020 to today?

https://fred.stlouisfed.org/series/CIVPART

 

Just down a full point from Pre-Covid.  NBD

[Captainant 28414]

8 minutes ago, Incredulity said:

Just down a full point from Pre-Covid.  NBD

All things considered.... Yeah? Dude, COVID was one of the most impactful things many of us will encounter in our lives. It certainly was for me. The fact that we're only down a point for labor participation not even a year removed from "opening up" again is pretty remarkable. I'm not sure I agree with the basis of your criticism

[Grade of D as in David 13255]

9 minutes ago, Incredulity said:

Just down a full point from Pre-Covid.  NBD

Workforce participation has been trending downward starting with W's administration. Guess you should have voted for a Clinton in 2016 if labor participation rates were so important to you.

 

https://www.statista.com/statistics/191734/us-civilian-labor-force-participation-rate-since-1990/

[Incredulity 11861]

1 minute ago, Grade of D as in David said:

Workforce participation has been trending downward starting with W's administration. Guess you should have voted for a Clinton in 2016 if labor participation rates were so important to you.

 

https://www.statista.com/statistics/191734/us-civilian-labor-force-participation-rate-since-1990/

It's important to me because of its direct correlation to the unemployment rate.

Causes of it's decline I have spelled out previously and doesn't singularly fall on any single administration.  

It's reality should tamper the excitement of historically low unemployment rates.  Spin is spin.

[sidis 9990]

3 minutes ago, Incredulity said:

It's important to me because of its direct correlation to the unemployment rate.

Causes of it's decline I have spelled out previously and doesn't singularly fall on any single administration.  

It's reality should tamper the excitement of historically low unemployment rates.  Spin is spin.

so you are angry about inflation, but you want the l.p.r. higher and unemployment to remain low?

okay.

or are you just pounding the only word the republicans can use for hopes of political success in the midterms?  as if inflationary rates coming out of a massive global economy-killing pandemic were not inherently going to be extreme regardless of which team happened to reside in the chair that day...

[Incredulity 11861]

1 minute ago, sidis said:

so you are angry about inflation

of course, its a highly regressive tax on low income earners.

2 minutes ago, sidis said:

but you want the l.p.r. higher and unemployment to remain low

What I want is an honest recognition of the macro labor trend and its interplay with the UR.  It's extremely problematic for the future, if the standard of living of 1990-2010 is the expectation.

[wildcat09 29562]

Guys, he’s obviously trolling.  Nobody could be so stupid as to believe $1,400 checks to some Americans in early 2021 is driving inflation in October 2022.

[Foosters 18232]

Hey guys Incredulity is looking for honesty lmao 

[Slacks 7027]

On 10/13/2022 at 11:27 AM, Captainant said:

All things considered.... Yeah? Dude, COVID was one of the most impactful things many of us will encounter in our lives. It certainly was for me. The fact that we're only down a point for labor participation not even a year removed from "opening up" again is pretty remarkable. I'm not sure I agree with the basis of your criticism

His name is Incredulity.

[TexEx15 17914]

Link to request student loan forgiveness is live.

 

[fattyflattie 4640]

On 10/13/2022 at 10:29 AM, Longhorn_Fan68 said:

oh man, that's way too reasonable and even-handed for today's politics. if you don't have someone to blame for all your problems then what do you have?

No shit, someone hasnt been paying attention. We all know is this is Putin’s hike, and of course the guys who own the corner store gas stations.  

[Thatguy 9295]

Geezus these guys are a joke. Worldwide inflation because Biden is the dumbest shit ever. Wouldn't matter who was in charge. Also, my fence guy is charging 1.5 times the labor he used to because "supply chain issues", or is he seizing the opportunity to increase profits since he has a built in excuse like everyone else? 

[Neonmoon 38130]

On 10/13/2022 at 11:01 AM, FirstTimeCaller said:

If you're going to blame Dems for inflation, then I trust you're also going to credit them for 3.5% unemployment and highest number of workers ever? 

I lean that Biden/Dems don't really deserve too much credit/blame for either, just get tired of hearing "Biden inflation" but silence on the employment stats. And the fact that inflation is hot literally around the world.

It’s at 9.9% in the UK and those Tory fucks just proposed tax cuts for the rich. They DGAF. If Republicans were in power, they’d do the same thing here. 

[elfenix 34661]

6 minutes ago, Neonmoon said:

It’s at 9.9% in the UK and those Tory fucks just proposed tax cuts for the rich. They DGAF. If Republicans were in power, they’d do the same thing here. 

tax cuts for the rich are the only actual policy republicans have.

[Biff Tannen 46063]

1 hour ago, Neonmoon said:

It’s at 9.9% in the UK and those Tory fucks just proposed tax cuts for the rich. They DGAF. If Republicans were in power, they’d do the same thing here. 

 

1 hour ago, elfenix said:

tax cuts for the rich are the only actual policy republicans have.

The fact they don't understand how this will backfire, both with voters (well, maybe) and actual economics, is nuts to me.  They are just dumb, greedy assholes.

[Neonmoon 38130]

5 minutes ago, Biff Tannen said:

 

The fact they don't understand how this will backfire, both with voters (well, maybe) and actual economics, is nuts to me.  They are just dumb, greedy assholes.

They don’t care. They will be voted out, and they want a cash grab on the way out 

[Biff Tannen 46063]

1 hour ago, Neonmoon said:

They don’t care. They will be voted out, and they want a cash grab on the way out 

Right, but they are also going to be on the receiving end of the revolution when the poors fight back.  You'd think they would be smart enough to at least throw people a bone and keep the ship upright instead of just bombing it all to hell.

[Sawbonz 28092]

On 10/13/2022 at 11:56 AM, wildcat09 said:

Guys, he’s obviously trolling.  Nobody could be so stupid as to believe $1,400 checks to some Americans in early 2021 is driving inflation in October 2022.

If the poors didn’t have money to spend shit would be cheaper

[freyguy 4366]

39 minutes ago, Sawbonz said:

If the poors didn’t have money to spend shit would be cheaper

I swear this very statement came out of our HR manager's mouth last week.

[Bozo_Casanova 26773]

1 hour ago, Thatguy said:

Geezus these guys are a joke. Worldwide inflation because Biden is the dumbest shit ever. Wouldn't matter who was in charge. Also, my fence guy is charging 1.5 times the labor he used to because "supply chain issues", or is he seizing the opportunity to increase profits since he has a built in excuse like everyone else? 

Unless you can do without a fence does it matter?

#elasticity

[StassneyHorn 6755]

Could be the classiest broad on the street with this

 

[Js1 86967]

8 minutes ago, StassneyHorn said:

Could be the classiest broad on the street with this

 

It even comes with a half dozen child laborers! 

[Cousin Strawberry 1273]

1 hour ago, Sawbonz said:

If the poors didn’t have money to spend shit would be cheaper

PPP fraud is what is driving a lot of this inflation.  The companies screening those applicants did zero due diligence.  

[Neonmoon 38130]

2 hours ago, Biff Tannen said:

Right, but they are also going to be on the receiving end of the revolution when the poors fight back.  You'd think they would be smart enough to at least throw people a bone and keep the ship upright instead of just bombing it all to hell.

Revolution? Johnny Utah ain’t storming the Bastille with streaming NFL games and half price chicken wings. More importantly, the “rich” or “elites” are no longer behind a wall, a castle, or wearing a crown. They’re not even quantifiable. You can’t kill a C-Corp. Even if you kill the CEO, they will just hire a new person willing to crush workers and increase dividends for a percentage. That’s the beauty of the system too, anyone can participate in it. Why would I vote for workers rights? It may suck for some, but lower taxes means higher profits, and I own a few shares. Might even afford that new boat some day. Fuck you, pay me. 
 

 

[Guest]

11 hours ago, Cousin Strawberry said:

PPP fraud is what is driving a lot of this inflation.  The companies screening those applicants did zero due diligence.  

I'm not blaming PPP for inflation or not, but it's a thing that is wayyyyy under-discussed. At the time there was a lot of panic and no one knew exactly what would happen with the pandemic. But I feel like I hear a ton of mentions still about shutting schools down, vaccine mandates, etc. but almost zero about what was just a huge giveaway to business owners.

 

[jimmyjazz 46987]

PPP was $835B of a total $5T in stimulus.  Kinda hard to put the blame on it alone.

[Post Oak 20551]

Biden moves one step closer to making giant Pacific Ocean wind turbines a reality

 

https://amp.cnn.com/cnn/2022/10/18/politics/pacific-ocean-offshore-wind-sale-biden-climate/index.html

 

Biden is going to open the Pacific up to wind farms soon. Supposedly 2.8T of power at full capacity. Which seems wildly optimistic to me but I'm not complaining .

 

[Incredulity 11861]

Let the screeching begin in Half Moon Bay.

[Biff Tannen 46063]

2 hours ago, Post Oak said:

Biden moves one step closer to making giant Pacific Ocean wind turbines a reality

 

https://amp.cnn.com/cnn/2022/10/18/politics/pacific-ocean-offshore-wind-sale-biden-climate/index.html

 

Biden is going to open the Pacific up to wind farms soon. Supposedly 2.8T of power at full capacity. Which seems wildly optimistic to me but I'm not complaining .

 

I still think tidal energy needs to be something much more widely discussed.  It's essentially using the moon's gravity to make energy 24/7.

[jimmyjazz 46987]

1 hour ago, Biff Tannen said:

I still think tidal energy needs to be something much more widely discussed.  It's essentially using the moon's gravity to make energy 24/7.

Oh, so you want to eventually dim moonlight, do you?  Great.

[RomaVicta 30508]

On 10/13/2022 at 9:17 AM, Incredulity said:

Thank God, The Flying Spaghetti Monster, St. Bernie, Your Fauci Prayer Candle or whatever personal deity you pray to that Dank Brando and the Democrats had the crystal clear insight and vision to pass the Inflation Reduction Act.  Can you IMAGINE how bad this could be?

 

https://www.cnbc.com/2022/10/13/consumer-price-index-september-2022-.html

ECONOMY

Inflation increased 0.4% in September,

 

 Core inflation was up 6.6% from a year ago, the biggest 12-month gain since August 1982.

 

Name one policy that always saves our economy. Always saves the economy. Take your time.

I'm going to say tax breaks for the rich.

Good answer! Great answer.

 

[RDCanecutter 26856]

On 10/17/2022 at 9:26 PM, Neonmoon said:

 Even if you kill the CEO, they will just hire a new person willing to crush workers and increase dividends for a percentage.

He's right you know.

(psst I think I used enough key words in my CV but if not, cognizate me and I'll onboard some more.)

[Willfully Horn 8206]

This ought go in the Katie Porter thread, but I doubt  @Incredulity would see it there.

 

 

[Incredulity 11861]

7 hours ago, Willfully Horn said:

This ought go in the Katie Porter thread, but I doubt  @Incredulity would see it there.

 

 

Quote

After leaving the NCEA, Faux teamed up with eight labor unions and prominent left-leaning economists to create the Economic Policy Institute

I am STUNNED at the conclusions provided.  Impressive craftsmanship of the board though.  Totally blown away by her ability to point with a dry erase pen.

[Incredulity 11861]

P.S. Here you go numbnuts.

 

[TwiceHorn 31996]

On the one hand, "corporations" tend not to be feeling the pinch the way consumers are feeling the pinch.  They seem to be maintaining, but not expanding, the usual profit margins in the face of increased COGS.

That's actually beneficial for the shareholder class, but detrimental to the lower classes. So, it's one of those "forces" driving wealth and income inequality.

I'm not sure how you legislate or regulate business/corporations to force them to have a social conscience.  It's one of the stickiest wickets we face.

[sidis 9990]

https://fred.stlouisfed.org/series/CP

 

[Doc Sam Beckett 5854]

17 minutes ago, sidis said:

https://fred.stlouisfed.org/series/CP

 

Jesus christ 

[Incredulity 11861]

We've had this discussion.

Posting corporate profits in dollar terms is nonsensical.  As a % of GDP corporate profits are in a similar range as they have been.