Effects of Biden's Policy?

1. 56

   JanetRobbposted 9 months ago

   Federal Reserve Chair Jerome Powell said on Wednesday the central bank's staff no longer forecasts a U.S. recession.
   https://www.bloomberg.com/news/articles … -recession
   
   Morgan Stanley also raised its economic growth forecast up this week, citing a "boom in large-scale infrastructure" driven by President Biden’s Infrastructure bill, according to reports.
   
   "The economy in the first half of the year is growing much stronger than we had anticipated"
   https://www.foxbusiness.com/economy/mor … licy-boom.
   
   Now some of Wall Street’s biggest players are echoing the White House’s optimism for a robust economic recovery.  While stock market performance is just one metric of several that are used to assess the health of the economy, Biden can tout that, on balance, most major stock indexes have increased in value since January 2021. The S&P 500 has grown by about 16% since the start of Biden’s presidency, the Dow Jones Industrial Average has increased by more than 11%.
   https://www.washingtonexaminer.com/poli … presidency
   
   I don't think that Biden is getting the credit he deserves for steering this country out of the chaos of the pandemic.

   replyreport
   1. 95

      wildernessposted 9 months agoin reply to this

      Had he not created the massive inflation, and the near recession, that we saw the kudos might be more forthcoming.  Were we not still suffering the effects of that inflation, with falling purchasing power, he might get more applause. 
      
      But so far all he has done is to (somewhat) ameliorate the effects of what he did.

      replyreport
      1. 56

         CharlieColemanposted 9 months agoin reply to this

         "But so far all he has done is to (somewhat) ameliorate the effects of what he did"
         
         I will agree to disagree that he is solely responsible for the aftermath of the pandemic. Just a little too simplistic for me.

         replyreport
         1. 86

            Valeantposted 9 months agoin reply to this

            When you're in the Trump cult, as so many members of these forums are, no culpability for any negative to the country can be given to the cult leader for fear of being expelled from the cult.  That sad reality is what we have to debate against in here.

            replyreport
   2. 77

      Kathleen Cochranposted 9 months agoin reply to this

      Janet: "I don't think that Biden is getting the credit he deserves for steering this country out of the chaos of the pandemic."
      
      I agree. If "It's the economy, stupid." still holds true, I think only a manipulated electoral college could keep him from staying in the White House in 2024,

      replyreport
      1. 86

         Valeantposted 9 months agoin reply to this

         For so many of us, 'It's the democracy, stupid' will be the mantra of 2024.

         replyreport
      2. 95

         wildernessposted 9 months agoin reply to this

         I would highly doubt that.  I see very few people that are happy with the economic picture; a loss of earning power has that effect as prices rise, income falls and just surviving gets harder.

         replyreport
         1. 77

            Sharlee01posted 8 months agoin reply to this

            How are gas prices in your neck of the woods?  Our here in Mich are steadily rising...
            
            Published: Aug. 14, 2023 at 5:52 AM EDT|Updated: 5 hours ago
            DEARBORN, Mich. (WLUC) - There is no relief at the pump for drivers this week, as the state gas price average has jumped 15 cents over the past week.
            
            According to AAA of Michigan, drivers are now paying an average of $3.91 per gallon of regular unleaded gas. This price has jumped above the national average by 6 cents, which is $3.85 per gallon.
            
            In the Upper Peninsula, the highest average can be found in Chippewa and Mackinac Counties at $3.98 per gallon.
            
            Looks like Joe might need to pour more oil from our reserves to help decrease the price by a few cents. Wonder how much is left in pour reserves, and what will he do when he finds only fumes?
            
            Joe has really bad Karma...

            replyreport
            1. 59

               Willowarborposted 8 months agoin reply to this

               I always find that there is at least one other contributing factor, usually several, to any issue. 
               
               At least four fuel-making plants in Texas and Louisiana, the states that are home to half the nation’s refining capacity, have suffered outages at least in part due to heat in recent weeks.
               
               “We are seeing refiners in Texas, Louisiana, Tennessee and some other states struggle to run anywhere near at maximum rates,” said Tom Kloza, global head of energy analysis at Oil Price Information Service. “Petroleum engineers can tell you that when ambient temperatures get to the 100-degree neighborhood, it is difficult to run at maximum levels.”
               
               "Gas prices suddenly soared over the last week due to heat-related refinery outages that impacted some of the largest refineries in the country" said Patrick De Haan, head of petroleum analysis at GasBuddy.
               
               How would Republicans deal with this issue?
               
               https://www.foxweather.com/lifestyle/dr … where-live
               
               https://www.foxbusiness.com/personal-fi … r-high-aaa

               replyreport
               1. 95

                  wildernessposted 8 months agoin reply to this

                  Can't speak for the Republican party or for Republicans in general, but the only answer I see is to pay the prices asked.
                  
                  While stopping the reporting that inflation is down in spite of rising prices and the economy up because of the rising prices.

                  replyreport
            2. 95

               wildernessposted 8 months agoin reply to this

               Just like you we have seen a jump of around 15 cents in the past week or two.  We're now a little over $4.  Northern Idaho is about 25 cents higher than we are.
               
               In addition I just got notice that our electric company (that just got a raise) has applied for another 10%.  Groceries are still rising as well.  All things left out of CPI calculations, leaving anyone depending on those numbers for a raise up the creek. Government workers, those on SS, those on welfare payments; all are left trying to survive on less and less while prices go up and up.

               replyreport
               1. 77

                  Sharlee01posted 8 months agoin reply to this

                  Yes, the poor are being hurt the worst. I can't see groceries going down, actually, many items are still going up, and utilities have become truely over 30% higher.  Everywhere I turn I am paying more.

                  replyreport