The Biden Administration and All Things Politics

[fishonjazz]

MSN

www.msn.com

The S&P 500 hit an all-time closing high Friday, reflecting the staggering gains of a coterie of Big Tech firms against the backdrop of a surprisingly stable economy.

The broad-based index closed at 4,839.81 ― up more than 1 percent for the day ― surpassing the previous closing record set in January of 2022.

The stock market surged upward in the final quarter of 2023 as evidence gathered that the economy has not tipped into recession territory, despite the Federal Reserve’s campaign to raise interest rates.

Voters’ feelings about the stock market and economy could affect the 2024 election, as President Biden and presumptive challenger Donald Trump will each have to defend their economic records. Trump predicted a market crash if he doesn’t win. Biden has already faced attacks from the right over inflation and gas prices, while his office has argued that he has both under control and pointed to a strong job market.

At the beginning of 2023, Goldman Sachs placed the probability of a recession at 35 percent, bucking a much higher consensus estimate of 65 percent.

But a recession has yet to materialize. By November, when the S&P 500’s latest rally had begun, Goldman had lowered its probability estimate to 15 percent as it declared the economy was “on its final descent” to a soft landing.


“The hard landing became a fictional Netflix documentary,” said Dan Ives, senior analyst at Wedbush Securities.

Now analysts see signs of a resilient economy. Inflation dropped to 3.1 percent in November, far lower than its June 2022 peak and closer to the Fed’s 2 percent goal. The number of people seeking initial jobless claims came in at 202,000 as of Dec. 14, reflecting a drop of 19,000 from the previous week, according to a preliminary estimate from the Labor Department. Consumer spending also held steady as it increased 0.2 percent in October.

 

[str8line]

MSN

www.msn.com

The S&P 500 hit an all-time closing high Friday, reflecting the staggering gains of a coterie of Big Tech firms against the backdrop of a surprisingly stable economy.

The broad-based index closed at 4,839.81 ― up more than 1 percent for the day ― surpassing the previous closing record set in January of 2022.

The stock market surged upward in the final quarter of 2023 as evidence gathered that the economy has not tipped into recession territory, despite the Federal Reserve’s campaign to raise interest rates.

Voters’ feelings about the stock market and economy could affect the 2024 election, as President Biden and presumptive challenger Donald Trump will each have to defend their economic records. Trump predicted a market crash if he doesn’t win. Biden has already faced attacks from the right over inflation and gas prices, while his office has argued that he has both under control and pointed to a strong job market.

At the beginning of 2023, Goldman Sachs placed the probability of a recession at 35 percent, bucking a much higher consensus estimate of 65 percent.

But a recession has yet to materialize. By November, when the S&P 500’s latest rally had begun, Goldman had lowered its probability estimate to 15 percent as it declared the economy was “on its final descent” to a soft landing.


“The hard landing became a fictional Netflix documentary,” said Dan Ives, senior analyst at Wedbush Securities.

Now analysts see signs of a resilient economy. Inflation dropped to 3.1 percent in November, far lower than its June 2022 peak and closer to the Fed’s 2 percent goal. The number of people seeking initial jobless claims came in at 202,000 as of Dec. 14, reflecting a drop of 19,000 from the previous week, according to a preliminary estimate from the Labor Department. Consumer spending also held steady as it increased 0.2 percent in October.

Listening to the Trumptards talk about Biden you'd think we're in the Great Depression so I'm pretty sure it's all fake news to them.

 

[Deleted member 365]

Listening to the Trumptards talk about Biden you'd think we're in the Great Depression so I'm pretty sure it's all fake news to them.

I have a MAGA neighbor who kept his Trump flag up well into 2022. He’s a cool guy when it comes to sports but pretty awful when talking about life and politics.

Earlier this year he was bitching about the economy, inflation, and the price of gas. I couldn’t help but notice he was driving a gigantic $100,000 dollar truck that he had recently purchased, was pulling his boat, his 3 kids all were armed with iPads, his wife had recently gotten her hair extensions and nails done, all while owning his house in Lehi worth north of $800,000 dollars. I couldn’t help but giggle. Yes, he truly was suffering in “Biden’s Democrat economy.”

 

[Sardines]

Listening to the Trumptards talk about Biden you'd think we're in the Great Depression so I'm pretty sure it's all fake news to them.

Be patient, I'm sure someone is going to come along and Trump-splain why the economy is actually as bad as it has ever been.

 

[str8line]

Be patient, I'm sure someone is going to come along and Trump-splain why the economy is actually as bad as it has ever been.

Trump-splain. Lol

 

[Deleted member 365]

MSN

www.msn.com

The S&P 500 hit an all-time closing high Friday, reflecting the staggering gains of a coterie of Big Tech firms against the backdrop of a surprisingly stable economy.

The broad-based index closed at 4,839.81 ― up more than 1 percent for the day ― surpassing the previous closing record set in January of 2022.

The stock market surged upward in the final quarter of 2023 as evidence gathered that the economy has not tipped into recession territory, despite the Federal Reserve’s campaign to raise interest rates.

Voters’ feelings about the stock market and economy could affect the 2024 election, as President Biden and presumptive challenger Donald Trump will each have to defend their economic records. Trump predicted a market crash if he doesn’t win. Biden has already faced attacks from the right over inflation and gas prices, while his office has argued that he has both under control and pointed to a strong job market.

At the beginning of 2023, Goldman Sachs placed the probability of a recession at 35 percent, bucking a much higher consensus estimate of 65 percent.

But a recession has yet to materialize. By November, when the S&P 500’s latest rally had begun, Goldman had lowered its probability estimate to 15 percent as it declared the economy was “on its final descent” to a soft landing.


“The hard landing became a fictional Netflix documentary,” said Dan Ives, senior analyst at Wedbush Securities.

Now analysts see signs of a resilient economy. Inflation dropped to 3.1 percent in November, far lower than its June 2022 peak and closer to the Fed’s 2 percent goal. The number of people seeking initial jobless claims came in at 202,000 as of Dec. 14, reflecting a drop of 19,000 from the previous week, according to a preliminary estimate from the Labor Department. Consumer spending also held steady as it increased 0.2 percent in October.

This is great news.

And if we’re being consistent, we need to praise Biden and his economic policy. If we were bitching about the economy or inflation in 2021, we need to give him credit now. If Trump would’ve killed to have these economic numbers, then we need to ask ourselves why Biden can’t brag about these? Let’s be consistent.

And for me, he’s doing it all without any drama. No tweets about horse face, blackmailing Ukraine to find dirt on political opponents, or inciting insurrections. He’s not telling white supremacist groups to standby.

Biden may be boring. He might not be a great public speaker. But he’s getting the job done.

Besides, The economy and liberal judges are all that matter to me! I’ve been assured by many on here that this is the criteria for a good president.

 

[fishonjazz]

Be patient, I'm sure someone is going to come along and Trump-splain why the economy is actually as bad as it has ever been.

Trumpers think he is destroying America.
I think America is awesome.

Sent from my CPH2451 using Tapatalk

 

[Bucknutz]

This is still the biggest issue we have going on in the US right now.

The migrant crisis. This is not about race, its about resources, which we do not have to handle this problem.

I have been talking about low income housing for over a year, on this board but I'm going to expand on another limited resource...

Doctors and medical resources. Lets see what's happening in Denver:

Denver hospital system may collapse due to migrant crisis: 'We are turning down patients'

A Denver hospital system told the city Monday it faces unprecedented challenges due to the ongoing migrant crisis.

wpde.com

"Eight-thousand migrants from Central America accounted for approximately 20,000 visits in 2023. Denver Health asked the Federal Emergency Management Agency to provide funds for immigrants’ medical costs. The state and federal governments aren’t reimbursing the hospital, which spent $136 million for patients who didn't pay."

20,00 visits in 2023 were from migrants. $136 million spent on services for patients who didn't pay... we can't even properly care for Americans.

So how many people came over the border this year? 3.2 million

How many doctors are needed for 3.2 million? 8,000 (2.5 per 1000 source https://data.oecd.org/healthres/doctors.htm#indicator-chart)

How many new doctors enter residency per year? Around 40k (https://www.vox.com/22989930/residency-match-day-physician-doctor-shortage-pandemic-medical-school)

How many doctors left the work force? 117,000 in 2021. Within 5 years they are estimating a deficit of doctors to be around 140,000. 5 more years of this volume of migrant, this country will need to add another 40,000 doctors.

Pausing the border crossings is needed.

 

[Al-O-Meter]

Trumpers think he is destroying America.
I think America is awesome.

The economy is good, certainly better than I and many others were predicting. However there is one noteworthy change showing up in the economic data that I don't like very much. It doesn't indicate a bad economy as much as a failing culture. The statistic I'm referring to is the workforce participation metrics put out by the Bureau of Labor Statistics. If the employment-to-population ratio were the same today as it was before the COVID-19 pandemic in February 2020, 2.6 million more people would be employed today.

That in and of itself isn't the concerning thing but rather it is in who the missing participants are. Around two-thirds are the 65+ workers who all decided to call it a career. That is great. I wish them all the best. The other third of missing workers are 20-24 year old women with no kids.

Why the young women aren't getting jobs and where they went isn't a mystery. They are here:

As The Thriller said, credit where credit is due. Joe Biden used to inappropriatly shower with his teenage daughter and Hunter Biden's association with sex workers is legendary. I don't have a daughter myself. I only have a son and I do not hold back my condemnation of simps but that is not the same. Do those with daughters think turning their little girls into prostitutes destined to burn out on the idea of family after seeing the very worst parts of the worst male humans the world has to offer is worth a good economy?

 

[Sardines]

The economy is good, certainly better than I and many others were predicting. However there is one noteworthy change showing up in the economic data that I don't like very much. It doesn't indicate a bad economy as much as a failing culture. The statistic I'm referring to is the workforce participation metrics put out by the Bureau of Labor Statistics. If the employment-to-population ratio were the same today as it was before the COVID-19 pandemic in February 2020, 2.6 million more people would be employed today.

That in and of itself isn't the concerning thing but rather it is in who the missing participants are. Around two-thirds are the 65+ workers who all decided to call it a career. That is great. I wish them all the best. The other third of missing workers are 20-24 year old women with no kids.

Why the young women aren't getting jobs and where they went isn't a mystery. They are here:

As The Thriller said, credit where credit is due. Joe Biden used to inappropriatly shower with his teenage daughter and Hunter Biden's association with sex workers is legendary. I don't have a daughter myself. I only have a son and I do not hold back my condemnation of simps but that is not the same. Do those with daughters think turning their little girls into prostitutes destined to burn out on the idea of family after seeing the very worst parts of the worst male humans the world has to offer is worth a good economy?

The average woman on onlyfans makes $180/month. That's the average where there are some making millions a month. Most people flashing their cooter on the internet aren't even paying their phone bill with the proceeds.

Yep, our society has been ruined.

 

[Deleted member 365]

Be patient, I'm sure someone is going to come along and Trump-splain why the economy is actually as bad as it has ever been.

nailed it

 

[Deleted member 365]

Why don’t we just reverse the Trump tax cuts and use part of that added revenue to “solve” the migrant crisis? We could rush judges to the border to hear cases. Those legit asylum seekers would be let in while those who aren’t, won’t. Those let in will be given housing and other assistance until they’re on their feet. We could reform the immigration process and make it much faster and easier to come here legally. Dreamers would be granted citizenship.

Why not just do that?

Or does one party want to keep this an issue so they can demagogue about it on Fox News every year for elections? “The brown caravan! Scary!!!”

I’m guessing it also doesn’t help when that party’s leader says everyday that immigrants are “poisoning the nation’s blood.” It’s hard to take them seriously about this issue when such racism is so in our faces everyday. Right? I wonder why those on here sooooo concerned over immigration (cuz they’re soooo not racist) have been so silent on Donald’s racist diatribes?