Biden's former chief of staff admits how bad the Biden economy is

[impartialobserver]

2 minutes ago, CdnFox said:

Are you - you of all people - suggesting that the gdp number by itself is indicative of how the economy is performing?

No but if the economy was doing that poorly.. this metric would be declining not increasing. Keep in mind that this is "real" gdp, so in layman's terms been adjusted for inflation. Yes, inflation is a problem but claims that the economy is tanking is simply unrealistic. 

[CdnFox]

3 minutes ago, impartialobserver said:

No but if the economy was doing that poorly.. this metric would be declining not increasing.

Well that's not true.

In a recession the gdp may go down but that is not the only economic weakness an economy can experience.  Right at the moment biden is pouring a lot of extra money into the economy. That creates an artificial 'bubble' that increases GDP, but isn't actually indicative of actual productivity or economic strength. It's a facade that requires more and more gov't spending to keep it up over time, and of course eventually that bubble has to burst.

If you had a personal income of 1000 dollars a month and suddenly started bringing in 1500 that would look like you were doing very well - but if 600 of that is coming from credit cards, then the reality is you're not doing very well at all.

It's an election year and the inflation has had a massive impact on people, so biden is pumping things up to try to make it look better.  GDP is not an indicator by itself of how well the economy is actually doing. It can definitely go up while the economy is weakening.

[impartialobserver]

10 minutes ago, CdnFox said:

Well that's not true.

In a recession the gdp may go down but that is not the only economic weakness an economy can experience.  Right at the moment biden is pouring a lot of extra money into the economy. That creates an artificial 'bubble' that increases GDP, but isn't actually indicative of actual productivity or economic strength. It's a facade that requires more and more gov't spending to keep it up over time, and of course eventually that bubble has to burst.

If you had a personal income of 1000 dollars a month and suddenly started bringing in 1500 that would look like you were doing very well - but if 600 of that is coming from credit cards, then the reality is you're not doing very well at all.

It's an election year and the inflation has had a massive impact on people, so biden is pumping things up to try to make it look better.  GDP is not an indicator by itself of how well the economy is actually doing. It can definitely go up while the economy is weakening.

The stimulus dollars have not completely went through the economy but mostly have. Therefore claiming that the stimulus dollars are inflating the "real"gdp is not true. now are we due for a recession... possibly. Besides stimulus (which stopped years ago).. can you give concrete examples of how Biden is pumping government money into the households therefore "inflating" the real GDP. Spare us all the op-ed section.. just send us links to actual data. 

[CdnFox]

15 minutes ago, impartialobserver said:

The stimulus dollars have not completely went through the economy but mostly have.

Aside from the fact that's not accurate, the increased spending is ongoing. He's spending far more money even after inflation than was being spent before the covid crisis.  I mean like today.  And the new budget is 7.3 Trillion.  MORE spending.  He's got 258 billion just going into the gov't building new homes.  And that's just the start.

Biden wants to win the election so he's artificially stimulating the economy - which unfortunately for him is why inflation is moving back up which it wouldn't if this were natural growth.  And that means he can't lower interest rates, so he's desperately trying to figure out how to circle that square right now.

The economy is not in great shape any more than it was just before the housing bubble burst.  There are severe weaknesses and the artificial stimulation threatens to jack up inflation again - and the average person is still feeling the pinch which is why he's not doing well in the polls. IF the economy was soaring as he claimed he'd be way ahead,

 

 

[impartialobserver]

6 minutes ago, CdnFox said:

Aside from the fact that's not accurate, the increased spending is ongoing. He's spending far more money even after inflation than was being spent before the covid crisis.  I mean like today.  And the new budget is 7.3 Trillion.  MORE spending.  He's got 258 billion just going into the gov't building new homes.  And that's just the start.

Biden wants to win the election so he's artificially stimulating the economy - which unfortunately for him is why inflation is moving back up which it wouldn't if this were natural growth.  And that means he can't lower interest rates, so he's desperately trying to figure out how to circle that square right now.

The economy is not in great shape any more than it was just before the housing bubble burst.  There are severe weaknesses and the artificial stimulation threatens to jack up inflation again - and the average person is still feeling the pinch which is why he's not doing well in the polls. IF the economy was soaring as he claimed he'd be way ahead,

 

 

Can you produce any raw data to back this up? Spare me the op-ed piece. 

[Caswell Thomas]

On 4/16/2024 at 8:59 AM, CdnFox said:

I read forbes and it disagrees with you entirely.  The evidence they present says i was right all along. They practically quote me word for word.  So you were wrong the whole time.

I hardly think you read Forbes if that's what you say you read there. They are washing their hands of the orange handed Grifter in chief. 

[WestCanMan]

On 4/10/2024 at 7:35 PM, gatomontes99 said:

The red flags, that no one wants to talk about, in this month's job report are that the big gains were not in areas that indicate economic growth. Three of top gainers were health care, government and social services. Health care is growing because the baby boomers are aging and needing more care. Government and social services growth were mandated. Combined, that was 165,000 of the 303,000 jobs added. The growth sectors like retail and manufacturing remained flat after losing last month.

https://www.bls.gov/news.release/empsit.nr0.htm

All this great economic news is a house of cards that will collapse soon.

Good ol' part-time jobs and public-sector jobs to the rescue. 

Somehow the Dems just haven't gotten the recipe for 'spending their way to wealth' right just yet.

[CdnFox]

2 hours ago, Caswell Thomas said:

I hardly think you read Forbes if that's what you say you read there. They are washing their hands of the orange handed Grifter in chief. 

Sure i do.  The figures are pretty clear - you're wrong

Not surprising from a liar who's claimed about 5 lifetime careers now

That's why you can't post the figures - you know you're wrong.

[CdnFox]

Wow - this is pretty terrible for biden.

He's trying to seem like 'Average Joe" and do a donut run and it just flopped like hell. Nobody wants anything to do with him.

That is NOT a good sign at all

 

[impartialobserver]

CES..aka, the "jobs" number is an estimate. It is not a definitive count or population. if you want the true job growth.. you look at QCEW. The reason that most do not is the lag time involved in its publishing. Second, month by month is not going to tell you the full story. 

 

https://www.bls.gov/cew/

[Caswell Thomas]

On 4/17/2024 at 6:37 PM, CdnFox said:

Sure i do.  The figures are pretty clear - you're wrong

Not surprising from a liar who's claimed about 5 lifetime careers now

That's why you can't post the figures - you know you're wrong.

When one has lived five lifetimes in one, one can easily have five lifetimes careers. Of course for someone like you who hasn't reached a third of your first life yet, its probably more than your psyche can handle. Perhaps you should sign up to see a nice psychiatrist..in fact ask to speak with Trump's psychiatrist, he must be living on bread and water by now since its well known Trump doesn't pay his bills, he just shifts what money he scams out of companies around and makes lots of empty promises knowing he has no intention of ever paying them. 

[CdnFox]

1 hour ago, Caswell Thomas said:

When one has lived five lifetimes in one, one can easily have five lifetimes careers.

You've lived one lifetime, unless you're a cat or believe in reincarnation.  And if you think you're a cat you need help.  

You lied. that's obvious,

And you're lying now about your 'data'.  That's obvious as well.

If you're not a poorly written bot, you do a damn good impression,

[Caswell Thomas]

On 4/19/2024 at 5:38 PM, CdnFox said:

You've lived one lifetime, unless you're a cat or believe in reincarnation.  And if you think you're a cat you need help.  

You lied. that's obvious,

And you're lying now about your 'data'.  That's obvious as well.

If you're not a poorly written bot, you do a damn good impression,

Actually I was about to say the same thing about you.  Seriously...you go.on and on like a program written back when computers were huge clumsy machines in freezing cold rooms hovered over by at least 4 or 5 white coated alleged technicians , A program called Eliza that gave you twenty questions to answer and at the conclusion began making automated demands based on what the person taking the quiz had given out and then rewriting it to make it sound the worst that it could from a set of stock phrases such as "and you are obviously lying" and " why would you say that?" , " its obvious , you're wrong about ( fills in data from the quiz). 

 Every time you talk you sound just like this program!  Professor Wiezenbaum would be so.pleased to see his program still attracts the self centered sycophants that inhabited politics in the late 1960's are still around and still ending every intelligent conversation with an insult just to see what the real, live person on the receiving end will say so the program can continue its miserable existence. Congratulations on being that Program!  

[CdnFox]

58 minutes ago, Caswell Thomas said:

Actually I was about to say the same thing about you

Of course.  AI bots always parrot what they've heard, that's how they work  

[impartialobserver]

If one is truly being honest.. Biden is no different than past presidents when it comes to inflated government budgets. the only real difference is the covid-era stimulus packages. Eventually the credit card will max out and when it does... plenty of pain. As for the stimulus money.. it has mostly circulated through. Evidence being that there are extremely few un-redeemed checks (paper or virtual). the rate of money supply velocity has decreased to pre-covid levels. Now, if I was a politician.. i would be a one platform type.. decrease spending. Now, I know that would prevent my even making it out of the first primary. 

[Caswell Thomas]

On 4/21/2024 at 5:25 PM, CdnFox said:

Of course.  AI bots always parrot what they've heard, that's how they work  

Careful, your control tape is showing. 

[CdnFox]

48 minutes ago, Caswell Thomas said:

Careful, your control tape is showing. 

LOL - it really isn't    That was a pretty dumb thing to say   

But you'd expect a bot wouldn't get that now that i think about it