How Bidenomics Paralyzed the Housing Market With Worst Mortgage Mess in 20 Years.

Its the whole OP.

 

Using your logic, since it is "the whole OP", does that mean that you are pinning the blame for inflation on Biden?...Of course not. Nor does it mean that I made that assertion, yet here you are pretending as if it does. Yeesh.

Did you want to try to give a reply that actually makes sense? A simple "my bad" coming from you would also suffice.

 

If you compare Sudan’s economy to USA , then you and I truly live in different universe.

 

There was no supply in 2020 .. the world shut down for a year.

Just because toilet paper production shut down in 2020 , people didn’t stop wiping their a$$.

 

Trump added 8 trillion USD to US debt in 4 years. I am sure that had a significant impact on us economy.

 

So you're admitting our own goverment policies effect our inflation rate?

 

We had an unavoidable “Pent-up Demand”, AND a global supply chain crisis. Hence, a demand-pull inflation.

 

There is some truth to your statement for sure. I would add that we had a record savings rate due to over-stimulus that had the populous bank accounts overflowing which created a large portion of that demand which led to the inflation that exploded in late 2021/ early 2022. The "pent up demand" that existed during the true shutdown of winter/spring 2020 when everything was shut down had not resulted in inflation at that point, but the bursting bank accounts after the cumulative effects of several rounds of stimulus certainly led to a great deal of demand that resulted in exploding inflation 2 years later, the likes of which we had not seen since the early 80s.

 

You falsely claimed that inflation was a sign of prosperity, now you're backpedaling.

65% of American's disapprove of Bribed Joe's inflation. Have Dems considered a campaign to explain to Americans why they should love Bidenflation?

Poultry Prices Hit Highs as Inflation Keeps Beef and Pork Out of Reach. And that's good! And remember, bugs are cheap!



Bidenomics = Inflation

If you can't afford meat, you can still afford bugs!

 

Your claim is fake news. They kept wiping because they still had supply.

 

My crazy spending, post-double vaccinations/re-openings/lifting of Covid restrictions; Approx. $20,000, ZERO Stimulus dollar….a 45 day road-trip, early May to Mid June 2021. Money mainly spent on Diesel, Accommodations, Food/Drinks/Entertainment.

Early May, Salt Lake City…attended a few Jazz games, and visitors were spending money like there’s no tomorrow.

NOTE; In 2020, I mainly spent money on necessities.

 

In addition, used vehicle financing at a higher average price than 2020. According to BLS, used vehicle sales record set in 2021 boosted the annual inflation rate by approx. 3%.

I blame the Fed’s near zero funds rate for said inflation.

 

Bidenflation hasn’t affected me, and here’s why; From June to December 2021, I hauled approx. 60 tons of scrap steel at an average price of $140/T. 2022, approx. 150 tons at an average price of $220/T. 2023, approx. 100 tons at an average price of $160/T

Note; 2020’s average price of scrap steel; $90/T.

Thus, the rising price of said commodity offsetted the rising price of fuel and groceries, thus, my net loss of purchasing power since Jan 2021; ZERO!

 

Privileged Gentry Folks with money are doing fine under Bribed Joe's inflation. Working folks aren't.

'modest-income voters think Republicans “care about people like me” not because they expect them to shovel out government money but because they expect Democrats to push policies that, while providing psychic income for affluent college graduates, will cost them more money for gas and food or force them to buy electric cars that conk out, washers that don’t wash, dryers that don’t dry, and heat pumps that don’t heat. New Deal politics has been turned upside down.'

Dems Puzzled as New Deal Politics Turns Upside Down

Bidenomics = Declining Real Wages

 

Toilet paper never stopped being made but yes Blue states shutdown their economies and then Biden paid people not to go back to work pouring inflation dollars into the economy delaying the COVID recovery and sending inflation to almost 10% and we are STILL living with it.




Labor Lessons From the Pandemic
New research confirms that if you pay people not to work, they won’t.

.......That’s the conclusion of a new paper by Harry Holzer, Glenn Hubbard and Michael Strain (of Georgetown, Columbia and the American Enterprise Institute, respectively). Congress’s pandemic expansion of unemployment benefits—and several states’ resistance to that policy—created an unusual experiment that policy makers should mark.

[After noting how and when federalism kicked in and how and when some states ended such benefits giving economist the perfect scenario to study the effects]

...The results are enlightening if not surprising. Ending one or both benefits early accelerated the transition of workers from unemployment to jobs. States that ended the benefits sooner saw their jobless rates among prime-age workers fall by 0.9 percentage point. The precise scale of the effects depends on which statistical method is used to crunch the numbers, but several different techniques yield similar findings.

This holds up even after the economists controlled for labor-market developments in states before they phased out one or both of the benefits in summer 2021. Meanwhile, the stark differences in employment faded after all states ended both programs in September 2021. These points signal that the unemployment benefits were the important factor, and not other tax or regulatory policies in the various states.

The results confirm what many labor economists have known for a long time: The more you pay people not to work, the less work they do.
https://www.wsj.com/articles/pandem...-glenn-hubbard-2401380a?mod=opinion_lead_pos3

And when people don't work there is no supply to fuel the demand the inflationary dollars is driving. Bidenonmics...............

 

You just hauled it or you bought it transported it and then sold it?

 

May be in Right wing media they don't report correctly, but here is the FACTS who paid what.

seems to me Trump paid Americans to stay home so they will vote for him. tried to buy vote.

Trump’s stimulus package 1: the CARES Act
Approved back in March 2020, the CARES Act approved stimulus checks or "Economic Impact Payments" that ended up being sent out to over 160 million recipients, according to the IRS.




Trump’s stimulus package 2: December's "skinny" stimulus package
Then there was a lot of talk for nearly nine months but no stimulus approval until after the presidential election. What was finally approved amounted to a very skinny bill, which was neither small enough for most Republicans and far too tiny for the majority of Democrats. What’s important to note that the overall Trump administration investment for the December bill ended up being under $500bn because they used $400bn that was leftover in the pot from CARES before it.

 

You are now claiming that when US jobs were shut down on government orders that the folks should have been forced to starve? Wow!

But let's go back to your previous claim that Inflation = Prosperity.

'In the US, the 30-year fixed rate has surpassed 7.5%, compared with about 3% in 2021. That more-than-doubling in rates means that, for a $500,000 mortgage, monthly payments are roughly $1,400 extra.'

How does paying an ADDITIONAL $1400/mo for the same thing make that family more 'prosperous'?

Are you starting to see why the gaslighting on Bidenomics isn't working?

https://finance.yahoo.com/news/5-bond-market-means-pain-040010668.html

' In the 11 months through August, the interest bill on US government debt totaled $808 billion, up about $130 billion from the previous year.'

How does spending more on interest make the US more prosperous?

 

Haul the load to the nearest scrap metal dealer, mainly obsolete pump jacks and their counterweights, and thanks to Senator Cramer, I’m well compensated to remove abandoned oil&gas steel structures, and remediate the land.

 

It's not "Bideneconomics"

 

That's not a rightwing media study it is a factual academic study of the facts and what the facts disclose.

Yes the economy due to this new and never before seen virus called COVID was being shutdown. The economy had never seen anything like it before and it WAS a necessary act by the government to sustain what economy we could keep going while engaging in a national defense act like never seen since WW2. Now are you willing to state on the record you OPPOSED that spending? Yes or no?

Which I opposed so that's not going to score you any points here but I do get the political reason he got it passed, the incoming President was promising to pass HUGELY MORE. We were already coming out of COVID, unemployment had fallen under 5% across the country, to 3.8% in my county, the vaccines were widely available and people were getting it. We didn't need anymore stimulus. But his "skinny" bill would had added little to inflation as the recovery was not causing any as production was betting kicked up and transportation moving.

Then came Biden and he had to take actions that he could then claim SAVED THE COUNTRY and that meant opposing people going back to work so he could send them even MORE money as I have shown to NOT go back to work and support the unions and blue states and city leaders who wanted to keep things shutdown, except for THEIR things of course. And THAT huge spending and suppression of our production and logistics is what caused Bidenflation.

 

I didn't use that term in the post you are replying to.

 

Americans just don't get it! The media just doesn't get it!

According to a recent law school survey, 52% of Americans think Donald Trump is more capable of handling the economy than Biden, who received support from a small minority, 28%.

ABC reports, "An unforeseen burst of hiring last month has lifted hopes that the economy will prove durable once again.

"Businesses across the U.S. economy ramped up their hiring in September, defying surging interest rates, financial market turmoil, the ongoing threat of a government shutdown and an uncertain outlook to add the most jobs in any month since January.

"The hiring binge confounded expectations for a slowdown. The 336,000 jobs that were added in September exceeded the 227,000 for August and raised the average gain for the past three months to a robust 266,000. The unemployment rate was unchanged at 3.8%, not far from the lowest in a half-century."

Republicans wanting Biden to look bad notwithstanding, the economy is doing great. American just don't know it.

Americans don't know it because they don't know how an economy works. No doubt media experts know, but they don't tell anyone.

Here is how economies work in a free market like ours and those in the Western world. Tell your friends. I don't claim to be an expert, but this pretty basic stuff.

During prosperous times, there is full employment as we are enjoying right now. With full employment there is robust spending. With robust spending comes inflation because in a free market, businesses will charge what the traffic will bear. Basically, because of inflation, Americans are complaining about a successful economy.

What Americans fail to understand is that inflation is a byproduct of prosperity.

All they want is lower prices, lower food prices, lower gas prices, lower home prices.

Fine, the devil might say. I will give Americans lower prices.

Lower spending will cause lower prices. Hundreds of thousand Americans lose their jobs. This causes lower spending and, logically, lower prices.

It is called recession. It is the only way to lower prices across the board.

This is what Americans don't know or realize. All they know is bitching about high prices to the current administration.

Media experts know all this, but they keep it to themselves. Economic basic facts are not newsworthy. Complaints are, so that is what they show.

 

FRED’s Household Saving

End Dec 2015; $1.15 Trillion
Dec 2016; $1.11 Trillion
Dec 2017; $1.19 Trillion
Dec 2018; $1.31 Trillion…….+ 200 billion
Dec 2019; $1.60 Trillion……..+ $300 billion
End Dec 2020; $3.07 Trillion…….+ $1.4 Trillion
Dec 2021; $2.35 Trillion

Questions;

1. End of Dec 2020, do you see an excess household saving?

2. In 2020, was Stimulus # 1 the sole reason why household savings increased by $1.4 Trillion?

Note; Your answers will reveal how intelligent you are.

 

Voters see the truth. Food and fuel are UP 20% in the Bidenomics disaster while real wages are DOWN. To prase what Bribed Joe has done on the economy is to insult the American People,

These Bribed Biden folks think that they can lie out of anything.

And then they insult us by claiming that we are stupid:

Oh, the Press hasn't whored enough for Bribed Joe?

Fake News. Inflation results from adding more money (wild spending of Bidenomics) without a corresponding increase in the supply of goods and services. Biden's lies aside, that money isn't free, and it's being paid for, by ALL OF US in much higher monthly spending in everything.

Inflation is costing the average US family an addition 1,000 a month for the same things they purchased during the Trumpian era for $1000 less. Only in the Biden Gaslighting is paying a $1,000 more a month for the same things "prosperity" when it's actually impoverishment.

Now the head of the Biden Crime Family that has collected $Millions in bribes by selling influence to corrupt foreign Oligarchs will tell us that 'we're just greedy and impossble to satisfy."

We just want the rising real wages, plentiful goods and services and rising real wages of Trumpenomics.

Bribed Joe refuses to lower his inflationary spending.

Now Bribed Joe is going to tell the American People that if they weren't selfish that they would be satisfied with a consumer dollar that Bribed Joe has devalued by 7% in just two and half years? How about the Federal Government does with less like the American People are?

It sounds like Bribed Joe and The Free American People aren't getting along very well.

Media Experts? They are WH propagandists. They largely just report WH and DNC talking points as "news".

THIS IS UNFAIR. THE PRESSTITUTES HAVE DONE THEIR BEST PLUS SOME: Biden blames the press for his underwater economic polling.

Bribed Joe losing the under 45 vote to Trump on the economy by 7 points.

'For months, if not years, Biden's economic polling has been underwater, but a new poll from NBC showed just 38% approving of his economic policies, a low mark for his term in office. Meanwhile, former President Donald Trump has surpassed Biden among voters under 45 in a poll from PBS NewsHour, driven primarily by discomfort with the current economy.'