Uncle J
Member
???? Did you read the post you replied to?
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US Economy Continues to Grow
- Thread starter Uncle J
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Uncle J
Member
Another month of robust US job growth points to continued economic strength
WASHINGTON (AP) — America’s employers delivered another outpouring of jobs in March, adding a sizzling 303,000 workers to their payrolls and bolstering hopes that the economy can vanquish inflation without succumbing to a recession in the face of high interest rates.
Last month’s job growth was up from a revised 270,000 in February and was far above the 200,000 jobs that economists had forecast. By any measure, it amounted to a major burst of hiring, and it reflected the economy’s ability to withstand the pressure of high borrowing costs resulting from the Federal Reserve’s interest rate hikes. With the nation’s consumers continuing to spend, many employers have kept hiring to meet steady customer demand.
Friday’s report from the Labor Department also showed that the unemployment rate dipped from 3.9% to 3.8%. The jobless rate has now remained below 4% for 26 straight months, the longest such streak since the 1960s. The government also revised up its estimate of job growth in January and February by a combined 22,000.
WASHINGTON (AP) — America’s employers delivered another outpouring of jobs in March, adding a sizzling 303,000 workers to their payrolls and bolstering hopes that the economy can vanquish inflation without succumbing to a recession in the face of high interest rates.
Last month’s job growth was up from a revised 270,000 in February and was far above the 200,000 jobs that economists had forecast. By any measure, it amounted to a major burst of hiring, and it reflected the economy’s ability to withstand the pressure of high borrowing costs resulting from the Federal Reserve’s interest rate hikes. With the nation’s consumers continuing to spend, many employers have kept hiring to meet steady customer demand.
Friday’s report from the Labor Department also showed that the unemployment rate dipped from 3.9% to 3.8%. The jobless rate has now remained below 4% for 26 straight months, the longest such streak since the 1960s. The government also revised up its estimate of job growth in January and February by a combined 22,000.
No thanks to Biden economics. Trump's rollback of regulations and tax cuts worked against Biden's best efforts to crash the economy. His war on fossil fuels, against natural gas, and green new deal disruptions, throwing away billions on war...didn't counteract Trump's rollback of regulations. Another Biden term would be a disaster.
Uncle J
Member
Well let's once again attempt to inject some reality and facts into the right-wing alternate universe....
Donald was the first President since Hoover to leave office with a negative jobs creation record.
Trump to leave office with the worst jobs record since Herbert Hoover
The number of employed Americans fell by 3 million during Trump's time in office.
Unemployment skyrocketed at the end of Donald's term.
Other facts....
- The international trade deficit Trump promised to reduce went up. The U.S. trade deficit in goods and services in 2020 was the highest since 2008 and increased 40.5% from 2016.
- The number of people lacking health insurance rose by 3 million.
- The federal debt held by the public went up, from $14.4 trillion to $21.6 trillion.
- Home prices rose 27.5%, and the homeownership rate increased 2.1 percentage points to 65.8%.
Loading…
www.politico.com
As noted throughout this thread, under President Biden the US has sustained positive job growth over the entirety of his term, with over 14 million jobs created and unemployment below 4% for the longest stretch in over half a century.
As for President Biden's alleged "war on fossil fuels", again reality matters....
Biden isn’t advertising America’s record oil boom
Biden is not "waging war" on American energy. He’s boosting it.
www.vox.com
Loading…
www.washingtonpost.com
So I guess it's time for you to yet again fall back on "they're all lying", eh AP?
Your graph proves deregulation, which requires a few years to bring business creation, kicked in and has been going strong since.Well let's once again attempt to inject some reality and facts into the right-wing alternate universe....
Donald was the first President since Hoover to leave office with a negative jobs creation record.
Trump to leave office with the worst jobs record since Herbert Hoover
The number of employed Americans fell by 3 million during Trump's time in office.finance.yahoo.com
Unemployment skyrocketed at the end of Donald's term.
Other facts....
Meanwhile, under President Biden the GDP not only recovered, but increased at a rate that greatly exceeded expectations.
- The international trade deficit Trump promised to reduce went up. The U.S. trade deficit in goods and services in 2020 was the highest since 2008 and increased 40.5% from 2016.
- The number of people lacking health insurance rose by 3 million.
- The federal debt held by the public went up, from $14.4 trillion to $21.6 trillion.
- Home prices rose 27.5%, and the homeownership rate increased 2.1 percentage points to 65.8%.
Loading…
www.politico.com
As noted throughout this thread, under President Biden the US has sustained positive job growth over the entirety of his term, with over 14 million jobs created and unemployment below 4% for the longest stretch in over half a century.
As for President Biden's alleged "war on fossil fuels", again reality matters....
Biden isn’t advertising America’s record oil boom
Biden is not "waging war" on American energy. He’s boosting it.
Loading…
www.washingtonpost.com
So I guess it's time for you to yet again fall back on "they're all lying", eh AP?
Calvin Cooledge, JFK, Reagan and Trump all have one thing in common, they deregulated the economy and it blasted off like a rocket a few years later.
Biden's policies also took a few years to kick in, high inflation, systemic dysfunction of government at all levels. Third world banner republic political moves against foes. A great example, President Biden and Chi had a phone discussion, and as soon as they hung up Chi ordered more military to threaten Taiwan. Perhaps Biden wanted to share the fantasy trip he claims he and Chi had together:
Biden, 81, repeats lie he traveled to 17,000 miles with Chinese leader
The 81-year-old was giving speaking at a White House event on Thursday to mark Greek Independence Day when he repeated the false remarks which were debunked in 2021.
Consecrated Life
Member
PERSONAL FINANCE ·MILLENIALS
September 26, 2023 at 8:00 AM EDT
Bidenomics , Keeping Families Together, removing stigmas
And I'm not kidding , Jack!
Where does he find the time to be so good to us ?
Moving back in with your parents is so common now that it’s nearly lost its stigma
BYJANE THIERSeptember 26, 2023 at 8:00 AM EDT
Bidenomics , Keeping Families Together, removing stigmas
And I'm not kidding , Jack!
Where does he find the time to be so good to us ?
Fastfredy0
2024 Supporter
Inflation numbers are deceitful. The government picks a basket of goods and then changes the contents of the basket to keep the CPI lower to console the electorate and keep their expenses like social security down. To make the matters more complex, inflation varies from one person to another; for example, a person saving for a home is affected by the inflation on home prices whereas a person without a home is not.
The government runs a Ponzi scheme. They have the power to print money and do so. Nixon took us off the gold standard which enabled the Ponzi scheme to proceed. Inflation is caused (for the most part) by printing money and putting it into the system. When fiat money was pegged to gold (which is a store of value) there was control of the value of fiat currency. All governments are corrupt and eventually the fiat system in every country collapses as those in charge 'game' the centralized system. It usually take 80 to 120 years for the best currency to collapse. The U.S. has passed the point of no return. 99% of the population is ignorant due to the complexity of the subject and a system that hides what its doing. (Aside: "Quantitative Easing" is a fancy term for excessive money printing that causes inflation).
Bitcoin is a possible alternative. It is decentralized (not run by anyone save 100s of thousands of individuals who are motivated to ensure the system is not corrupted as they lose out if the Bitcoin system is manipulated). Bitcoin is limited in the amount that can be generated with a maximum of 21 million virtual coins by 2140, thus inflation is in check. It is better than gold in that it can easily be sub-divided into 100 million parts and it can be distributed without a middle man to anywhere in the world in 10ish minutes. Also, unlike gold it is easily verified as to the owner and amount. It's risk/reward ratio is the best on the planet. It's market capitalization recently surpassed silver and is 1/10th that of gold. It can be owned by the individual who can leave a country and take it with him should the government impose on the individual, said imposition occurring 8ish times in the U.S. (like when about 1932 the U.S. government seized everyone's gold and threatened them with prison if they did not comply, or the time the U.S. would not return gold it stored for other countries, or the U.S. corrupting the S.W.I.F.T. system against countries they don't like, etc.)
If you hold cash it will be inflated away (U.S.$ is worth 2 cents compared to 100 years ago and U.S. currency is best world currency over last 80 years; other countries being more corrupt than the U.S.) ... bonds and treasuries suffer a similar fate though they don't inflate away as quickly. They slowly fall behind inflation and supposed increases in value are taxed heavily.
Bitcoin is a solution. It is risky and rewarding. It has been had the highest return on investment 8 of the last 11 years and the worst return on investment 3 of the last 11 years. You can own if in a private wallet with impenetrable security or you can purchase it via an ETF though that method is susceptible to government confiscation, though that is unlikely over the short term.
Good Luck as you navigate yourself through the government Ponzi scheme.
The government runs a Ponzi scheme. They have the power to print money and do so. Nixon took us off the gold standard which enabled the Ponzi scheme to proceed. Inflation is caused (for the most part) by printing money and putting it into the system. When fiat money was pegged to gold (which is a store of value) there was control of the value of fiat currency. All governments are corrupt and eventually the fiat system in every country collapses as those in charge 'game' the centralized system. It usually take 80 to 120 years for the best currency to collapse. The U.S. has passed the point of no return. 99% of the population is ignorant due to the complexity of the subject and a system that hides what its doing. (Aside: "Quantitative Easing" is a fancy term for excessive money printing that causes inflation).
Bitcoin is a possible alternative. It is decentralized (not run by anyone save 100s of thousands of individuals who are motivated to ensure the system is not corrupted as they lose out if the Bitcoin system is manipulated). Bitcoin is limited in the amount that can be generated with a maximum of 21 million virtual coins by 2140, thus inflation is in check. It is better than gold in that it can easily be sub-divided into 100 million parts and it can be distributed without a middle man to anywhere in the world in 10ish minutes. Also, unlike gold it is easily verified as to the owner and amount. It's risk/reward ratio is the best on the planet. It's market capitalization recently surpassed silver and is 1/10th that of gold. It can be owned by the individual who can leave a country and take it with him should the government impose on the individual, said imposition occurring 8ish times in the U.S. (like when about 1932 the U.S. government seized everyone's gold and threatened them with prison if they did not comply, or the time the U.S. would not return gold it stored for other countries, or the U.S. corrupting the S.W.I.F.T. system against countries they don't like, etc.)
If you hold cash it will be inflated away (U.S.$ is worth 2 cents compared to 100 years ago and U.S. currency is best world currency over last 80 years; other countries being more corrupt than the U.S.) ... bonds and treasuries suffer a similar fate though they don't inflate away as quickly. They slowly fall behind inflation and supposed increases in value are taxed heavily.
Bitcoin is a solution. It is risky and rewarding. It has been had the highest return on investment 8 of the last 11 years and the worst return on investment 3 of the last 11 years. You can own if in a private wallet with impenetrable security or you can purchase it via an ETF though that method is susceptible to government confiscation, though that is unlikely over the short term.
Good Luck as you navigate yourself through the government Ponzi scheme.
Uncle J
Member
That's an interesting suite of assertions. Problem is, that's all they are....empty assertions.
I understand your desperate need to give Don the Con credit for the Biden Boom, but it ain't working. The facts just don't support it.
Facts don't support Biden did anything causing the booming economy. Except for the military industrial complex getting rich on endless war, can't think of a thing he did to increase private payrolls etc. Inflation, hindering supply chains with green new deal regulations, doesn't grow anything but leftist crony capitalists.
Uncle J
Member
Yeah they do, I just showed you some. Want some more?
President Biden negotiated and signed the CHIPS Act, which invested $53 billion in domestic semiconductor manufacturing, and negotiated and signed the Bipartisan Infrastructure Law, which included over $550 billion to repairing our roads and bridges, and billions in green energy projects. The result...
America's poorer counties are new investment boomtowns: study
Then you haven't been paying attention to this thread.
Sorry but your empty assertions don't negate reality.
Not impressed. Politicians spend spend spend, lobbyist represented companies get wealthy, so does the Washington elite.
Private investment went up because of Trump, rolling back regulations, not because of wasting more money on businesses that should spend their own money. If I recall correctly, only a small part of that 550 billion went to actual infrastructure projects. The rest was wasted on the green new deal, whose companies survived only as long as the free money from Washinton keeps rolling in.
Uncle J
Member
I didn't expect you to be, being a firm member of the cult of the conman.
Again you offer nothing but empty assertions. The facts are there....President Biden's term has been an economic boom, where the country recovered quickly and strongly from the disaster left behind by Donald (worst jobs creation record since Hoover). As has been pointed out in this thread multiple times, economists are shocked at how we, unlike the rest of the developed world, have been able to tame inflation while creating jobs, raising wages, growing the economy, and avoiding a recession.
Facts matter.
Facts do matter. Evidently you have a "wealth" of progressive apologetic material at your finger tips. Specify exactly what in the 550 billion bill actually contributed to the massive increase in private hiring that will endure once the spigot of Government subsidy vanishes. That would cause me to modify my rejection of Biden-nomics, which seems like a green new deal trojan horse to me.
Fastfredy0
2024 Supporter
You're wasting your time arguing with him. Use the IGNORE function like I did.
I once bought into Utopia. Its seductive, and deludes as the "moral high ground".
But socialism accomplishes the opposite of Utopia, every time its tried. Biden and his handlers are globalists, bad news for our freedom. Like socialists, they are ideologues...convinced they are right and will sacrifice anyone to achieve their cause.
Only future generations learn the truth, when the hell they live in becomes too extreme even for self-delusion to hide:
Uncle J
Member
Yep, I do indeed have a wealth of facts at my finger tips. We all do...the only question is whether or not those facts matter to you.
The $500 billion specifically "provides $550 billion over fiscal years 2022 through 2026 in new Federal investment in infrastructure, including in roads, bridges, and mass transit, water infrastructure, resilience, and broadband."
All of those are good for US businesses. That's why Don the Con kept promising to have an "infrastructure week" during his term. He knew such investment was desperately needed and would be good for business, but as usual his rhetoric was all just a con. He never did anything for "infrastructure week" and instead spent his time giving himself and his super wealthy cronies the biggest tax cut in US history.
OTOH, President Biden negotiated and signed the Bipartisan Infrastructure Law his first year in office.
Facts matter.
Uncle J
Member
LOL....I suppose that's one way to deal with inconvenient facts....just ignore them.
Fastfredy0
2024 Supporter
Agreed
Agreed .... I don't think the republicans are much better. The system is broken as you can't get elected unless you bride the electorate with goodies that you can't afford. So you print money, pay for it partially with inflation and kick the can down the road for those in the future to fix when the economy collapses.
Fiat money must be backed by something... be it gold or bitcoin or some commodity that has the necessary characteristics of a store of value to keep spending in check. But that won't happen.
Hi Fastfredy0
God bless,
Ted
I just question how bitcoin is a store of value any more than a dollar bill? I mean, bitcoin has no value beyond what we assign to it. I mean it has literally cost $50 and now costs $60,000, but it's the same physical item as far as any intrinsic value.
God bless,
Ted
Hi Alfred Persson
Is that what the GOP now calls the facts that they don't want to deal with? It used to be 'alternative facts'. Now it's 'progressive apologetic material'? I must say, that does sound so very, very professional of them. Progressive apologetic material. Kind of long winded though.
God bless,
Ted