[BlutoSays]

[Godstud]

What's wrong, @BlutoSays? Sand in your vagina? You are exponentially whinier than usual!

Here's a nice fact:

3.6% Unemployment rate
https://www.bls.gov/charts/employment-s ... t-rate.htm

157.54 million Americans employed 2018(pre-Covid) -Trump
159.82 million Americans employed 2022 -Biden
https://www.statista.com/statistics/269 ... ed-states/

Have you considered changing your name to "Karen"? How about MemeBoy?

[BlutoSays]

Until you factor in those dropping out of the labor force permanently. Then you morons just ignore the participation rate.

[BlutoSays]

Rambling incoherent idiocy AGAIN.



Reality check...

Americans are more stressed about money than ever, and it’s hurting our mental health, CNBC, May 18, 2022

https://www.cnbc.com/2022/05/18/america ... ealth.html




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https://twitter.com/MichaelJBurry__







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[Steve_American]

@BlutoSays,

Like every unthinking American, you place 100% of the Blame on the current President, unless he is your guy. Then, none of the problems are his fault.
My evidence is your not blaming Trump for anything.

Because I'm a thinking American, I don't do this. I try to only blame the President for things he can do. He can't do much about the supply chain problems, just like Trump didn't or couldn't.
I try to not blame him for reducing supply or stuff (read oil and natural gas) that will occur in 2 years. So, stopping the sale of oil and gas leases will have no effect on prices for about 2 years.
I have him share the blame for laws/bills that didn't pass the Senate with a few Dem Senators and all the Repuds. It is mostly the Repuds fault because (I believe that they know MMT is right and) yet they refuse to help the mass of Americans by doing what is necessary to make the economy better. I think they do this in hopes that they can sucker the voters into blaming Biden for their obstruction.

So, after the Repuds block 95% of the actions that Biden wants to take, the blame can't be put on Biden. Most of the blame should be put on the Repuds.
OTOH, 100% of the blame for those things that Biden could do without the Senate is his fault. Like not cancelling a big chunk of student loan debt.

But, no one here thinks that Bluto is capable of thinking for himself. Except, Bluto.

.

[BlutoSays]

Biden's economy is better in 9 out of 10 metrics of economic performance, compared to the 1st yr of the last 7 Presidents. By my count this goes back to Pres, Carter's 1st yr. That is Biden's econ. is in the top 1 or 2 in 9 out of 10 metrics of econ. well being.
Just 6 min. long. Surely you have 6 min. to watch this.

Also, the US is doing better than all other advanced nations. IIRC.

It's a BOOM.

Lurker Alert - Lurker Alert - Lurker Alert !!


ABC POLL: "Biden is a serious drag on Democratic candidates nationwide ... he is badly underwater on all of the top issues."




CNN POLL: 66% of Americans DISAPPROVE of Biden’s handling of the economy.




ABC: "Prices today, including food, rents, and gas, are up 8.3% from a year ago — FAR more than wages."




Economist Tyler Goodspeed: Under Joe Biden, "real wages continue to DECLINE." "Nominal wage growth just hasn't been keeping up with inflation."




CNBC: "We talk about inflation — it's a regressive tax" that's hurting American consumers.

Inflation has surged to a 40-year high under Joe Biden.




Biden claims "savings are up."

Families have an average of $9,000 LESS in savings than last year.




Biden: "Since I took office, families are carrying less debt ... more Americans feel financially comfortable"




What the fuck is he talking about? He’s just outright lying.

Biden Gas Hike




Babies are starving. Families can’t afford gas. The border is open.

Joe Biden is at the beach.

[BlutoSays]

Biden's economy is better in 9 out of 10 metrics of economic performance, compared to the 1st yr of the last 7 Presidents. By my count this goes back to Pres, Carter's 1st yr. That is Biden's econ. is in the top 1 or 2 in 9 out of 10 metrics of econ. well being.
Just 6 min. long. Surely you have 6 min. to watch this.

Also, the US is doing better than all other advanced nations. IIRC.

It's a BOOM.

.

Indeed. It is a BOOM!

[Steve_American]

Indeed. It is a BOOM!

Consumer Sentiment is not actually reality.
It does matter, though.

In this case it is all about inflation. Everyone is hurt by inflation, only some are hurt by high unemployment.
Inflation is caused by shortages and corp profit seeking.
The shortages started under Trump and he did little to reduce them. Biden has done more.
The Fed has said that inflation is not caused by a large money supply, caused by Gov. deficit spending.
So, the Fed disagrees with your claims. The Fed are experts and you are not.
In any case Biden sent out $1400 checks. Compared to Trump checks of $1200+$1200+$600and over $2T given directly to corps. And the $600/week plus-up to unemployment checks.

The MSM is not helping democracy by pushing the idea that Biden can do much more. As long as covid lasts there will be shortages, and so there will be inflation.
The Fed's leaders/chairman are not doing the nation any good causing a recession to increase unemployment to reduce demand, when people already can't afford the basics to live. It will increase homelessness.

.

[Negotiator]

Uh-hu.

About the US economy, the economic metric that I am aware of is that after COVID, 8 out of 10 US americans currently live from paycheck to paycheck, i.e. have no reserves whatsoever, and that many US americans currently accumulate debt at record speed because they cannot keep up with expenses.

This number was by the way 4 out of 10 before COVID.

And thats happening while prices for oil, gas, fertilizers and food are exploding, and will do so even worse in the coming months.

And while the superrich are increasing their wealth at record speed. So much so that one of them could just buy Twitter out of a whim for 44 billion, despite the fact its really perfectly irrelevant.

Its nice if the "economy" is going well but that apparently just means rich people are getting richer, not that regular people are able to make a living.

[BlutoSays]

Consumer Sentiment is not actually reality.
It does matter, though.

In this case it is all about inflation. Everyone is hurt by inflation, only some are hurt by high unemployment.
Inflation is caused by shortages and corp profit seeking.
The shortages started under Trump and he did little to reduce them. Biden has done more.
The Fed has said that inflation is not caused by a large money supply, caused by Gov. deficit spending.
So, the Fed disagrees with your claims. The Fed are experts and you are not.
In any case Biden sent out $1400 checks. Compared to Trump checks of $1200+$1200+$600and over $2T given directly to corps. And the $600/week plus-up to unemployment checks.

The MSM is not helping democracy by pushing the idea that Biden can do much more. As long as covid lasts there will be shortages, and so there will be inflation.
The Fed's leaders/chairman are not doing the nation any good causing a recession to increase unemployment to reduce demand, when people already can't afford the basics to live. It will increase homelessness.

.

Yes, the fed are "experts" and I am not. But they have a strike against them. They are POLITICIZED experts. They make decisions based on what their masters, the politicians, want. If politicians have a grudge against gravity, that'll be in the messaging.

But don't worry about it. Inflation is "merely transitory".

No one could have seen this coming.

Worst of all, Steve, you still believe money grows on trees, so I have more expertise than you do, because you're a believer (actually a sycophantic one), not a thinker.

Keep carrying that water!

[BlutoSays]

Uh-hu.

About the US economy, the economic metric that I am aware of is that after COVID, 8 out of 10 US americans currently live from paycheck to paycheck, i.e. have no reserves whatsoever, and that many US americans currently accumulate debt at record speed because they cannot keep up with expenses.

This number was by the way 4 out of 10 before COVID.

And thats happening while prices for oil, gas, fertilizers and food are exploding, and will do so even worse in the coming months.

And while the superrich are increasing their wealth at record speed. So much so that one of them could just buy Twitter out of a whim for 44 billion, despite the fact its really perfectly irrelevant.

Its nice if the "economy" is going well but that apparently just means rich people are getting richer, not that regular people are able to make a living.

True. Americans are not savers. They haven't been for decades. That's not a knowledge challenge. That's a will power challenge and by and large, Americans don't have it.

Stop playing the super rich against the poor. This is a problem with individual responsibility. You look at how Americans structure their financial lives, and it's rife with failure.

Houses as ATMs and taking out 40 year mortgages, their choice of idiotic recreational degrees that can't be monetized, living paycheck to paycheck and basically taking the easy way out on every challenge. Of course it's going to lead to catastrophes.

[Steve_American]

Yes, the fed are "experts" and I am not. But they have a strike against them. They are POLITICIZED experts. They make decisions based on what their masters, the politicians, want. If politicians have a grudge against gravity, that'll be in the messaging.

But don't worry about it. Inflation is "merely transitory".

No one could have seen this coming.

Worst of all, Steve, you still believe money grows on trees, so I have more expertise than you do, because you're a believer (actually a sycophantic one), not a thinker.

Keep carrying that water!

First, Bluto, you are still so ignorant that you don't understand that money does grow on trees, to use your symbolic turn of phrase.
. . . That is, the banking laws are such that banks are not like pawnbrokers. Banks just create the money they are loaning to a credit worthy borrower out of thin air. I have posted about this several times. I there posted links to a report about an experimant run in Germany in 2014 involving 200K euros that were loaned to an economics prof. while his grad students watched what every employee of the bank did, and they saw that the loan officer just added numbers in to the borrowers acc., and didn't move the money from some other acc, in the bank's books. I also linked to a report by the Bank of England that confirmed this experiment was valid, and money is created by banks with every loan.
. . . The other way that dollars are created is when the US deficit spends. Before the transactions, a guy has $100K in the bank; after the transactions, that guy has a $100K US bond, and some other guys have $100K split between their bank accounts. So, before there was $100K and after the transactions there are $200K in the American economy.
. . . You are unable to understand this. Is it because you are too _____ to understand? Or is it that you you just refuse to look at the facts to see the truth?

With all due respect (which is none because your ignorant) the staff at the Fed may or may not have to toe the line that the Board of Governors sets for them. But, the board agrees with you so if the staff said that the board told them to say they would agree with you.
. . . You don't seem to know that the members of the various Fed boards have been appointed by past and present Presidents. They have not all been appointed by Biden and Obama. Some were appointed by Trump and Bush. They are *all* Mainstream economists, though. None of them are MMTers. Not one of the board members is an MMTer.

You are so blinded by your hate for Dems, that you can't see the truth. This makes you ignorant.
.

[BlutoSays]

First, Bluto, you are still so ignorant that you don't understand that money does grow on trees, to use your symbolic turn of phrase.
. . . That is, the banking laws are such that banks are not like pawnbrokers. Banks just create the money they are loaning to a credit worthy borrower out of thin air. I have posted about this several times. I there posted links to a report about an experimant run in Germany in 2014 involving 200K euros that were loaned to an economics prof. while his grad students watched what every employee of the bank did, and they saw that the loan officer just added numbers in to the borrowers acc., and didn't move the money from some other acc, in the bank's books. I also linked to a report by the Bank of England that confirmed this experiment was valid, and money is created by banks with every loan.
. . . The other way that dollars are created is when the US deficit spends. Before the transactions, a guy has $100K in the bank; after the transactions, that guy has a $100K US bond, and some other guys have $100K split between their bank accounts. So, before there was $100K and after the transactions there are $200K in the American economy.
. . . You are unable to understand this. Is it because you are too _____ to understand? Or is it that you you just refuse to look at the facts to see the truth?

With all due respect (which is none because your ignorant) the staff at the Fed may or may not have to toe the line that the Board of Governors sets for them. But, the board agrees with you so if the staff said that the board told them to say they would agree with you.
. . . You don't seem to know that the members of the various Fed boards have been appointed by past and present Presidents. They have not all been appointed by Biden and Obama. Some were appointed by Trump and Bush. They are *all* Mainstream economists, though. None of them are MMTers. Not one of the board members is an MMTer.

You are so blinded by your hate for Dems, that you can't see the truth. This makes you ignorant.
.

HORSESHIT. The fed is a political tool for political purposes.

I don't give a shit if they're "Mainstream economists". They are WOKE hacks now.

[Steve_American]

HORSESHIT. The fed is a political tool for political purposes.

I don't give a shit if they're "Mainstream economists". They are WOKE hacks now.

Lurkers, this sort of response is exactly why I aim my responses more at you, the lurkers, than I do at Bluto.
He sees everything he disagrees with as being a result of actions by partisan woke hacks.

When the Bank of England in 2014 published the report mentioned above that said that the experiment had proven that banks create money out of thin air or by plucking it from the magic money tree, he just discounts it as the work of lying hacks.

He can't as a result be reached by any new evidence.
.

[BlutoSays]

Biden's economy is better in 9 out of 10 metrics of economic performance, compared to the 1st yr of the last 7 Presidents. By my count this goes back to Pres, Carter's 1st yr. That is Biden's econ. is in the top 1 or 2 in 9 out of 10 metrics of econ. well being.
Just 6 min. long. Surely you have 6 min. to watch this.

Also, the US is doing better than all other advanced nations. IIRC.

It's a BOOM.

.

[BlutoSays]

What's wrong, @BlutoSays? Sand in your vagina? You are exponentially whinier than usual!

Here's a nice fact:

3.6% Unemployment rate
https://www.bls.gov/charts/employment-s ... t-rate.htm

157.54 million Americans employed 2018(pre-Covid) -Trump
159.82 million Americans employed 2022 -Biden
https://www.statista.com/statistics/269 ... ed-states/

Have you considered changing your name to "Karen"? How about MemeBoy?

Hey, good news!!

A few days ago, the labor department released the latest employment numbers. 372,000 "new hires" entered the labor force!

The LABOR FORCE PARTICIPATION RATE also dropped from 63.3% (May) to 63.2% (June). Excellent news! https://www.bls.gov/charts/employment-s ... n-rate.htm

Wait.....wut? How can the labor force participation rate DROP if 372,000 "new hires" happened??

That makes no sense.

Oh, but it does... How?

Most of the 372,000 "new hires" were already working one job and took on a second job!

Now that's what I call DEMOCRAT progress.

[Godstud]

So you ignore a net gain of 3 million jobs and nitpick a loss of 1% that. Why am I not surprised you only use facts when they suit you?

[Igor Antunov]

Biden's 1st yr econ. num. are better than any of the last 7 President's, it's better in 9 out of 10.

[Negotiator]

Um.

After COVID 8 out of 10 US americans are now living paycheck to paycheck, while the superrich have had their already excessive wealth like doubled during the COVID crisis.

Inflation is hitting hard, and is hitting people who already live paycheck to paycheck.

Hundreds of billions and billions of US dollars are pumped into the military and the ukrainian war, while there is no help for the people after COVID.

The USA has five times the world average of inmates per population, and more inmates than any other country. And apparently policemen in the USA are literally tested for low IQ and low empathy, or they're getting rejected. And if thats not true, it still accurately describes their behavior.

Whats worse, Saudi Arabia is in negotiations with the most powerful economy of the world, China, to sell them oil for their own currency. Which means the petrodollar, the basis for the US dollar being the world currency, is in danger to be about to end. And the USA is not in a position to do anything about it; they would have to attack Saudi Arabia.




If those are "best economic numbers", than thats a glorious random selection of just the "right" parameters to look good.

[late]

Whats worse, Saudi Arabia is in negotiations with the most powerful economy of the world, China, to sell them oil for their own currency. Which means the petrodollar, the basis for the US dollar being the world currency, is in danger to be about to end. And the USA is not in a position to do anything about it; they would have to attack Saudi Arabia.

We are the reserve currency, and that status is unchallenged.

Our sanctions policies are undermining that position, but we are a long way from losing it. There is no challenger, and the basket of currencies idea will be DOA unless our economy collapses.

The Saudi can cut a deal with China, that's not actually bad for us. The value of the yuan is likely to decline, while the value of the product will likely increase.

Even if the Saudi don't come to regret the deal, we don't want the immediate collapse of the Chinese economy.

So, less than ideal, but in the big picture it's just a meh..