Many predicted a Biden recession - instead we got a solid and growing economy

cawacko said:
These are just blanket statements. It is literally the same discussion every single time on this board. I understand we aren't economists here but I also don't think it unreasonable for people to say more than that.

If that's all we can say, then lay out the data. At least we can have a discussion about that.

(But you'll notice not a single comment here about why so many economists thought we were headed for a recession. Nothing. Are we unable to answer that?)
Click to expand...

I get why economists were predicting that. But it was the doom from Trump & Republicans that was so predictable - and it does get repetitive. Every time a Dem is elected, we're headed for a Depression. That's exactly what they said when Obama passed the stimulus, too.

It doesn't gel w/ the reality.
 
cawacko said:
These are just blanket statements. It is literally the same discussion every single time on this board. I understand we aren't economists here but I also don't think it unreasonable for people to say more than that.

If that's all we can say, then lay out the data. At least we can have a discussion about that.

(But you'll notice not a single comment here about why so many economists thought we were headed for a recession. Nothing. Are we unable to answer that?)
Click to expand...


The level of discussion here is generally abysmal.
 
BartenderElite said:
I get why economists were predicting that. But it was the doom from Trump & Republicans that was so predictable - and it does get repetitive. Every time a Dem is elected, we're headed for a Depression. That's exactly what they said when Obama passed the stimulus, too.

It doesn't gel w/ the reality.
Click to expand...
More than four years ago, Trump practically guaranteed an unprecedented economic depression if Americans dared to elect Biden.
 
BartenderElite said:
I get why economists were predicting that. But it was the doom from Trump & Republicans that was so predictable - and it does get repetitive. Every time a Dem is elected, we're headed for a Depression. That's exactly what they said when Obama passed the stimulus, too.

It doesn't gel w/ the reality.
Click to expand...
The same thing Democrats are saying now - we are headed for a depression (because of Trump). Yes, partisans are going to partisan.

If you follow the workings of the Fed you'll also understand their concerns still with inflation and a cooling job market as they debate how much further they will cut interest rates. There is good data but also certain headwinds still existing. That's today's reality and it would be the reality no matter who won the election.
 
Well, let's see...
If the economy is so great why are:

Layoffs skyrocketing this year?

techcrunch.com

A comprehensive list of 2024 tech layoffs | TechCrunch

A complete list of all the known layoffs in tech, from Big Tech to startups, broken down by month throughout 2024.
techcrunch.com techcrunch.com

Top Companies that Announced Major Layoffs & Hiring Freezes-2024

Intellizence has curated a list of major companies that have announced mass layoffs, job cuts, downsizing, hiring freezes, and furloughs.
intellizence.com intellizence.com

www.foxbusiness.com

Layoffs skyrocketing in 2024: Here are the companies axing jobs

Layoffs surged in 2023, and so far, it appears that trend is not slowing down. In the first month of the new year, companies across multiple industries announced cuts.
www.foxbusiness.com www.foxbusiness.com

www.businessinsider.com

The full list of major US companies slashing staff this year, including Meta, ExxonMobil, and Boeing

Companies have continued to cut jobs in 2024 after a wave of layoffs last year. Meta, Boeing, Google, and Tesla are among those shedding staff.
www.businessinsider.com www.businessinsider.com

Labor utilization lowest in decades?

www.bls.gov

Civilian labor force participation rate

www.bls.gov www.bls.gov


Disability claims on the rise?

0bc1f21f-db2d-4fbd-9f94-f70ad2793f4f_1575x761.png


Real wages fallen during Biden's time in office?

budget.house.gov

Fiscal State of the Union: Biden's Real-Wage Decline | The U.S. House Committee on the Budget - House Budget Committee

The Official U.S. Congressional website of The Republican Budget Committee
budget.house.gov

www.politifact.com

Have real wages fallen monthly under Biden?

As the 2024 election approaches, Republicans nationwide are running against incumbent president and likely Democratic no
www.politifact.com www.politifact.com


Debt per household is at an all time high?

www.fool.com

Total household debt by type

A column chart showing household debt by type.
www.fool.com www.fool.com

Americans Are Carrying Record Household Debt in 2024

U.S. household debt grew by $800 million in 2023, resulting in record-highs for personal debt. However, 2024 could bring relief to struggling Americans.
www.marketwatch.com www.marketwatch.com

Bankruptcies way up?

Bankruptcy Filings Rise 16.2 Percent

Personal and business bankruptcy filings rose 16.2 percent in the twelve-month period ending June 30, 2024, compared with the previous year.
www.uscourts.gov www.uscourts.gov

www.bankruptcywatch.com

Bankruptcy Data & Statistics (Updated December 5th, 2024)

Real-time bankruptcy statistics to help you make better business decisions, faster. Industry market research reports, statistics, analysis, data, trends, and more.
www.bankruptcywatch.com www.bankruptcywatch.com

Seems to me that the actual economy right now sucks bigtime. You don't see it in the cherry-picked White House and Leftist MSM numbers because they are trying to turd polish as hard and fast as they can.

Bottom line: Biden's economy is a disaster, and it sucks bigtime.
 
Cypress said:

Economists have 'really had it wrong' about recession, market strategist says​

"Two years ago ... 3 out of 4 economists were saying we're going into a recession," David Zervos, chief market strategist for Jefferies LLC, said during CNBC's Financial Advisor Summit on Tuesday. "They've really had it wrong."

The economy is still growing and inflation has come down, he said.

The Fed's preferred measure of inflation stood at 2.3% in October, or 2.8% when excluding food and energy prices, according to the latest reading. Meanwhile, the fourth quarter is on track to post a 3.3% annualized growth rate for gross domestic product, the Atlanta Fed found.

The Federal Reserve is expected to cut interest rates by another quarter point at the conclusion of its two-day meeting next week.

Last week, Fed Chair Jerome Powell praised the U.S. economy and said it provided cushion for policymakers to move slowly as they recalibrate policy.

By most indicators, 2025 is going to continue in a positive direction, Barbara Doran, CEO of BD8 Capital Partners, said during the CNBC Financial Advisor Summit.

"Economic growth is going to be healthy next year," Doran said. "The prognosis is good."


www.cnbc.com

Economists have 'really had it wrong' about recession, market strategist says

David Zervos of Jefferies and Barbara Doran, CEO of BD8 Capital Partners, weigh in on the likelihood of more Fed rate cuts to come at CNBC's FA Summit.
www.cnbc.com www.cnbc.com
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The good ole days
 
Dutch Uncle said:
...and then fucks it up. The first time was by botching the COVID pandemic and the next time will be by his economic plans. By dismantling the FBI, he will set us up for another terrorist attack which, too, will fuck up the economy.

Of course, Pedo Don and his MAGAts will blame the Democrats but that won't change the results or bring back dead Americans. Sad

On Sept. 11, 2001, the whole country came to a standstill. About 3,000 people were killed by the attacks on American soil on that day.

The attacks also impacted the U.S. economy.

On that day, the New York Stock Exchange & NASDAQ shut down. Fearing attacks, the London Stock Exchange and other stock exchanges around the world were also shut down.

The NYSE re-opened on September 17, 2001.

However, the market underwent a selloff--one of the largest in exchange history on one trading day--with the market falling 7.1%. Following the NYSE's reopening, about $1.47 trillion in value was wiped out in the first week of trading since the attacks.

The insurance industry paid out about $40 billion in claims related to 9/11. Berkshire Hathaway undefined, Lloyd's (LYG) , Swiss Re, and Munich Re were some of the firms that paid out the most claims.

Aside from the insurance sector, airline stocks underwent major sell-offs following the attacks. Stock prices of American Airlines (AAL) and United Airlines (UAL) plummeted as those planes were used by hijackers in the attacks.

New York City’s economy was also severely impacted as tourism plummeted. The city lost 143,000 jobs a month and $2.8 billion in wages in the first three months.
Click to expand...
He tried

It keeps not working

Everyone keeps betraying him
 
cawacko said:
These are just blanket statements. It is literally the same discussion every single time on this board. I understand we aren't economists here but I also don't think it unreasonable for people to say more than that.

If that's all we can say, then lay out the data. At least we can have a discussion about that.

(But you'll notice not a single comment here about why so many economists thought we were headed for a recession. Nothing. Are we unable to answer that?)
Click to expand...
Outcomes matter


Your team sucks at outcomes
 
Well I was reading in the news today many companies that have been absorbing Trump's tariffs are saying they can not keep doing it, Tromps tariffs have hurt their bottom lines too much and will be increasing the price of their goods by about 10%.
Starting very soon, some were food distributors and retailers.
This could really hurt not only American people but our total economy.
 
Tbird19482 said:
Well I was reading in the news today many companies that have been absorbing Trump's tariffs are saying they can not keep doing it, Tromps tariffs have hurt their bottom lines too much and will be increasing the price of their goods by about 10%.
Starting very soon, some were food distributors and retailers.
This could really hurt not only American people but our total economy.
Click to expand...
No matter since, as long as Donnie can pocket money and have fun throwing his weight around, the White Nationalists will support him.
 
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