The Biden Recession Thread

[Babagounj]

biden does not know or understand economics or running an actual government.
he appointed staffers for political reasons rather than for their abilities
those are the folks advising him. Blind leading the blind

what could possibly go wrong.

Well , on paper , the west coast port backlogs have decreased.
Even with the Oakland Port Strike still continuing.
So Biden's crew can pat themselves on their backs.
But the reality is that the ships have only stopped going to western ports.
The have shifted to the Eastern and Gulf of Mexico Ports.
Which has created the situation of many ports having backlogs.
Smoke & Mirrors people.

 

[BrownFlush]

 

[Gotta Go]

 

[Up In Smoke]

The Cleveland Fed came out with numbers today that show a .27% July rate of increase to inflation. If their estimates are correct, that would translate into annualized rate of 3.24%. That would be the lowest reading since January.

 

[IVE GOTTA PACKAGE 4U]

The Cleveland Fed came out with numbers today that show a .27% July rate of increase to inflation. If their estimates are correct, that would translate into annualized rate of 3.24%. That would be the lowest reading since January.

Unrelenting inflation is driving up costs, leaving more Americans living paycheck to paycheck

With no break in sight for rising prices, even wealthier Americans are feeling financially strained.

www.cnbc.com

 

[Up In Smoke]

Well , on paper , the west coast port backlogs have decreased.
Even with the Oakland Port Strike still continuing.
So Biden's crew can pat themselves on their backs.
But the reality is that the ships have only stopped going to western ports.
The have shifted to the Eastern and Gulf of Mexico Ports.
Which has created the situation of many ports having backlogs.
Smoke & Mirrors people.

International shipping report from this morning show the cost of a 40' container is down 30% YOY.

 

[TearsInRain]

The Cleveland Fed came out with numbers today that show a .27% July rate of increase to inflation. If their estimates are correct, that would translate into annualized rate of 3.24%. That would be the lowest reading since January.

Dashboard | Truflation

The Truflation Dashboard provides a real-time calculation of the US inflation rate and the price indexes for the separate CPI categories used to measure price inflation

app.truflation.com

10.25 YoY

 

[Thebrownblob]

Dashboard | Truflation

The Truflation Dashboard provides a real-time calculation of the US inflation rate and the price indexes for the separate CPI categories used to measure price inflation

app.truflation.com

10.25 YoY

And the vast majority of Biden voters would say they would do it again.

 

[Up In Smoke]

Dashboard | Truflation

The Truflation Dashboard provides a real-time calculation of the US inflation rate and the price indexes for the separate CPI categories used to measure price inflation

app.truflation.com

10.25 YoY

The Fed has been around for 109 years and Truflation about 10 months. Apples and oranges.

 

[UnionStrong]

And the vast majority of Biden voters would say they would do it again.

The idiots

 

[TearsInRain]

The Fed has been around for 109 years and Truflation about 10 month

yes and we're all so proud of their record

96.7% loss of value, good job everyone! they're so much smarter than the rest of us dummies!

 

[PT Car Washer]

And the vast majority of Biden voters would say they would do it again.

That says something about President Biden's opponent.

 

[Thebrownblob]

That says something about President Biden's opponent.

Perhaps

 

[vantexan]

yes and we're all so proud of their record

96.7% loss of value, good job everyone! they're so much smarter than the rest of us dummies!

View attachment 394518

To be fair you would've worked for a dollar or so a day in 1913. And a lot of goods we want, like cars, cellphones, tv's, washing machines, etc, don't take as long to buy on our pay as they did when they first came out. My dad was getting after me making over $40k in 2012 saying he never made more than that his entire career and he owned a home, etc. I pointed out using an inflation calculator his $35k in 1977 was worth almost $120k in 2012. And the house he built for $20k in 1966 was worth a lot more now. Over $400k today. The people who really made out with inflation were those like him who bought homes with fixed rate mortgages before high inflation hit in the late 70's. They saw their pay rise while their debts got much cheaper to pay. The problem now is pay has been stagnant while home values have gotten very high. Pay will have to be greatly inflated to pay for a home or home values will have to come back down to reality.

 

[BrownFlush]

 

[UnionStrong]

View attachment 394528

Dumbest bitch in the country

 

[TearsInRain]

To be fair you would've worked for a dollar or so a day in 1913. And a lot of goods we want, like cars, cellphones, tv's, washing machines, etc, don't take as long to buy on our pay as they did when they first came out.

it's true, commodities have gotten cheaper due to automation and increased industrialization, but housing and transportation have blown those gains out of the water

 

[Up In Smoke]

Just watching The Exchange during meal break and one analyst suggested because of the great jobs report, better than expected CPI and PPI numbers that the risk of a full blown recession is gone. These guys change directions more often than the wind. I think we are in for a full 12 months of uncertainty from here.

 

[newfie]

Just watching The Exchange during meal break and one analyst suggested because of the great jobs report, better than expected CPI and PPI numbers that the risk of a full blown recession is gone. These guys change directions more often than the wind. I think we are in for a full 12 months of uncertainty from here.

inflation is still at 9 percent. the only good news is it didnt go any higher in july which the dems are claiming as zero inflation.
interest rates are still going up more.

 

[vantexan]

Just watching The Exchange during meal break and one analyst suggested because of the great jobs report, better than expected CPI and PPI numbers that the risk of a full blown recession is gone. These guys change directions more often than the wind. I think we are in for a full 12 months of uncertainty from here.

I'm seeing we just went through the first down wave and are now experiencing a bounce. Two more waves to go at least and things won't get better before 2024. Real estate overall down 50%, stocks down since the Jan. 4th top 86%, Bitcoin under $6k.