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Post by bottom feeder on Aug 4, 2023 15:31:31 GMT -5
Whose fault is that, Bottom Feeder? What's the title of this thread? |
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Post by Tarponator on Aug 4, 2023 15:47:18 GMT -5
Surprise, surprise.
So it's Biden's fault that people are living paycheck to paycheck and credit card debt is at record levels.
Got it.
Do you believe in aliens, too? |
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Post by pinman on Aug 4, 2023 20:28:06 GMT -5
IDK. Ill take the "Trumper" demographic over the "Biden" demographic any day, 100%..... You may be right. All that cousin humping has got to be good for something.  LOL I got a couple places Ill take you to, Trump country. You can call them "cousin humpers" to their faces. |
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Post by biminitwisted on Aug 5, 2023 1:01:06 GMT -5
You may be right. All that cousin humping has got to be good for something. LOL I got a couple places Ill take you to, Trump country. You can call them "cousin humpers" to their faces. I suppose their worship of the adjudicated rapist and admitted grabber, would probably give them the edge in those matters. |
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Post by oldbastard on Aug 5, 2023 5:33:53 GMT -5
J.P. Morgan Chief U.S. Economist Michael Feroli, in a new note:
"With 3Q23 growth looking solid, we no longer anticipate a recession in this calendar year." What's sad is that they were expecting one, there's still hope. |
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Post by cadman on Aug 5, 2023 5:40:53 GMT -5
Experts predicted a recession sometime this year way last year. The signs were there and some still are. I still think we are going to see a mild recession before the election, which will hurt Biden the closer to the election it happens.
It might not happen until after the election, but I will be surprised if there isn't one before 2026 no matter who the President is.
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Post by bottom feeder on Aug 5, 2023 15:37:51 GMT -5
Surprise, surprise.
So it's Biden's fault that people are living paycheck to paycheck and credit card debt is at record levels.
Got it.
Do you believe in aliens, too? Excessive government spending for the last year and a half is what caused inflation. |
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Post by bottom feeder on Aug 5, 2023 15:50:39 GMT -5
Bidenomics = Excessive government spending = Credit downgrade. The economy is headed for disaster. It cost twice as much to buy a house as it did two years ago. One makes twice the profit when selling a house, or would that be considered greed? That is not always the case as real estate values have dropped recently |
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Post by Tarponator on Aug 5, 2023 17:40:09 GMT -5
Surprise, surprise.
So it's Biden's fault that people are living paycheck to paycheck and credit card debt is at record levels.
Got it.
Do you believe in aliens, too? Excessive government spending for the last year and a half is what caused inflation. Excessive government spending has been occurring for decades.
The aftereffect of COVID mostly caused inflation globally. Full stop.
That said, in a sense I agree, certainly deficit spending (and money printing) didn't help in this country.
That's hardly as simple as "Biden's fault" or even "excessive government spending", but then nuanced appreciation of global currency, inflation and pandemics isn't really the conversation level around here.
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Post by luapnor on Aug 5, 2023 20:09:37 GMT -5
Bidenomics.... the ruination of every blue city downtown. Good job pants shitter.
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Post by luapnor on Aug 5, 2023 20:11:02 GMT -5
Oh... biden owns the shutdowns. Its not covid fault, its bidens fault. 500% overreaction to a nothing.
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Post by biminitwisted on Aug 5, 2023 22:53:39 GMT -5
Oh... biden owns the shutdowns. Its not covid fault, its bidens fault. 500% overreaction to a nothing. Not only are you reality challenged, apparently you're incapable of reading a calendar too. |
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Post by cadman on Aug 6, 2023 7:36:49 GMT -5
Oh... biden owns the shutdowns. Its not covid fault, its bidens fault. 500% overreaction to a nothing. Not only are you reality challenged, apparently you're incapable of reading a calendar too. it is amazing to me how Biden managed the shutdowns when he wasn't President in 2020 when they started. He was not the President who told everyone to stay home and avoid crowds. He was not a governor of a state that ordered businesses closed in 2020. But, this is twice someone has claimed he is responsible for them. He is responsible for pushing the vaccine and maintaining the state of emergency, but most shutdowns had ended by the time he became President. I think a few state still had some business types like theaters still closed, but that was each state's decision, not Biden's |
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Post by One Man Gang on Aug 6, 2023 8:09:20 GMT -5
I seem to recall Tee-rump trying to buck the establishment by fighting to keep shutdowns at bay. The outrage from within the establishment, and particularly from the Globohomofascists here and the other forum, for Trumps refusal to shutdown and shutter up the country was a real thing.
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Post by cadman on Aug 6, 2023 9:01:54 GMT -5
I seem to recall Tee-rump trying to buck the establishment by fighting to keep shutdowns at bay. The outrage from within the establishment, and particularly from the Globohomofascists here and the other forum, for Trumps refusal to shutdown and shutter up the country was a real thing. Not correct, Trump favored the shutdowns in the beginning, even announced that everyone needed to stay home, work from home if possible, not to travel, and avoid large crowds. Once he saw the impact on the economy, he then tried to push to re-open the country as quickly as possible, first by Easter and then by some time in May. He played the political game of blaming the governors of the state because he did not want any blame for the economy slowing down. He switched the blame to the governors of each state for not opening sooner than they did and made it appear he was against the shutdowns. Trump was very good and taking credit for everything good during his presidency and blaming other for the bad stuff. |
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Post by One Man Gang on Aug 6, 2023 9:04:52 GMT -5
I don't think so. You're only partially correct.
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Post by Tarponator on Aug 6, 2023 12:27:34 GMT -5
"I take no responsibility at all."
-Donald Trump
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Post by biminitwisted on Aug 6, 2023 13:21:10 GMT -5
I seem to recall Tee-rump trying to buck the establishment by fighting to keep shutdowns at bay. The outrage from within the establishment, and particularly from the Globohomofascists here and the other forum, for Trumps refusal to shutdown and shutter up the country was a real thing.  |
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Post by bottom feeder on Aug 6, 2023 16:10:04 GMT -5
Excessive government spending for the last year and a half is what caused inflation. Excessive government spending has been occurring for decades.
Hence the downgrade from Fitch. Which is only going to lead to more erosion of the economy. Doesn't make any difference who spent it, it just needs to stop. Biden just keeps spending more. |
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Post by cadman on Aug 6, 2023 16:42:59 GMT -5
S&P downgraded the U.S. back in 2011 and it didn't affect us too much, I doubt Fitch makes a difference.
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Post by Tarponator on Aug 7, 2023 18:02:01 GMT -5
Excessive government spending has been occurring for decades.
Hence the downgrade from Fitch. Which is only going to lead to more erosion of the economy. Doesn't make any difference who spent it, it just needs to stop. Biden just keeps spending more. Your use of the word "only" is noted. Perhaps we'll come back to that.
In the meantime, please remind us which part of government controls spending.
With my rhetorical request now asked, I could not agree more -- deficit spending does need to stop.
However, I would prefer to be rational about the conversation.
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Post by whitebacon on Aug 8, 2023 4:22:11 GMT -5
Hence the downgrade from Fitch. Which is only going to lead to more erosion of the economy. Doesn't make any difference who spent it, it just needs to stop. Biden just keeps spending more. Your use of the word "only" is noted. Perhaps we'll come back to that.
In the meantime, please remind us which part of government controls spending.
With my rhetorical request now asked, I could not agree more -- deficit spending does need to stop.
However, I would prefer to be rational about the conversation.
I will try to be rational. My civics recall is not on point, but I think the House introduces spending bills. POS signs them.
There is no way to turn the bus around. If you take in less than you spend, it is ultimately unsustainable. When that occurs, none of us know.
The interest on the debt I'm guessing is north of $600 billion..the interest...
Tarp, you and I are both conservative about fiscal issues. The debt and deficit aren't sustainable long term.
Put me in charge up there for a week. |
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Post by cadman on Aug 8, 2023 8:20:48 GMT -5
The actual dollar figure of the debt is meaningless, it is the percent of GDP that is the issue and it is high. Debt jumped to 126% in 2020 and then a high of 132% in 2021. It is 123% right now. Give it a few \years to fall below 100% and nobody will care anymore about the debt.
I will agree that spending is out of control, and revenue is too low. Both are an issue. Social security needs a tax increase and other fixes, Congress needs to stop giving tax cuts if they aren't willing to cut spending to match it. If Congress passes a spending plan, they need to pass revenue increases to support it or don't pass the bill.
There is a solution, but it won't make them heroes back home. Everyone wants all the money spent, just some want it spent on defense, and others on social programs. But nobody wants to pay for it.
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Post by luapnor on Aug 8, 2023 11:13:02 GMT -5
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Post by cadman on Aug 8, 2023 13:05:34 GMT -5
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Post by bottom feeder on Aug 9, 2023 11:58:46 GMT -5
So the credit card debt crossed the 1 trillion mark with an average interest rate of 20%. Those folks are really enjoying bidenomics.
There were also 5.48 million new cards issued which could be more consumers with new debt.
Total limits on cards rose by 9 billion to a total of 4.6 trillion so hey they have a ways to go before they are maxed out.
Fiscal responsibility is slipping both by the consumer and the government.
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Post by bottom feeder on Aug 9, 2023 12:11:24 GMT -5
Well guess what? If you have to work three jobs to make ends meet you are going to have to pay more taxes. Inflation and higher interest is hurting a lot of people. |
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Post by biminitwisted on Aug 9, 2023 12:30:42 GMT -5
Well guess what? If you have to work three jobs to make ends meet you are going to have to pay more taxes. Inflation and higher interest is hurting a lot of people. Biden got the IRA passed which spelled out his plan in black and white for all to read, and then was implemented into law. I'm still waiting on a copy of the GOP plan. Maybe someone can post it? I suppose it's coming in two weeks. |
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Post by bottom feeder on Aug 9, 2023 13:02:34 GMT -5
The inflation reduction act is making inflation worse. Rising interest rates are stifling the economy.
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Post by biminitwisted on Aug 9, 2023 13:08:52 GMT -5
The inflation reduction act is making inflation worse. Rising interest rates are stifling the economy. So where's the alternative plan? |
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