As economy spikes, Republicans are still waiting for the ‘Biden depression’ that Trump predicted: I think some of our pretend conservative economists also predicted an immediate and...

PeterS

I think some of our pretend conservative economists also predicted an immediate and DEEP recession. If I remember correctly it was going to be the end of the world as we knew it. Well, more and more, as covid seemed to be moving behind us, and the economy starting to improve by leaps and bounds adding jobs--nearly a million a month--and income growth, giving Americans real tangible hope where only despair lay before under the fumbling missteps of one Donald J Trump.

https://www.msn.com/en-us/news/politics/as-economy-spikes-republicans-are-still-waiting-for-the-biden-depression-that-trump-predicted/ar-BB1fX3wZ?ocid=msedgntp

Gatsby

PeterS wrote:

I think some of our pretend conservative economist... (show quote)

When the current moratorium on evictions and foreclosures ends, the housing market bubble is going to burst.

china joe hasn't reached the 100 day mark yet, he has a very long way to go! Don't be so impatient.

EmilyD

PeterS wrote:

I think some of our pretend conservative economist... (show quote)

That is Trump's doing... Biden has only been in office for three months, and most of it he has spent in his basement twiddling his thumbs. There's no way that reversing Trump's EO's on everything is helping this economy. Just wait....give Biden time. He'll screw things up like Obama said he always does.

You and I both know that if the economy tanks at any point in Biden's term, you will blame it on Trump. Try as you might, you can't have it both ways...

Liberty Tree

Gatsby wrote:

When the current moratorium on evictions and foreclosures ends, the housing market bubble is going to burst.

china joe hasn't reached the 100 day mark yet, he has a very long way to go! Don't be so impatient.

Also, when stimulus checks and payments for not working stop and higher taxes kick in we will see major change in the economy.

America 1 Loc: South Miami

PeterS wrote:

I think some of our pretend conservative economist... (show quote)

US Economic Outlook for 2021 and Beyond
The March recession ended 128 months of expansion, the longest in U.S. history.1 In Q2, the economy contracted by a record 31.4%. Quarterly GDP had never experienced a drop greater than 10% since record-keeping began in 1947.
In April, retail sales were down 14.7% as governors closed nonessential businesses, but by May sales recovered, increasing by 18.3% as shops and restaurants slowly reopened safely. As the pandemic hit the second wave in the fall, though, sales started falling again, declining by 1.1% in November.
Also in April, the unemployment rate skyrocketed to 14.7% as companies furloughed workers. It remained in the double digits until August, when it steadily declined.45 In the week ending Dec. 12, though, claims rose sharply to 853,000, marking the largest increase in claims filed since mid-September.
Economic Growth
According to the most recent forecast released at the Federal Open Market Committee (FOMC) meeting on Dec. 16, 2020, U.S. GDP growth is expected to contract by 2.4% in 2020. It is estimated to then rebound up to a 4.2% growth rate in 2021, and slow to 3.2% in 2022, and 2.4% in 2023.
Unemployment
The FOMC estimates that the unemployment rate will be 6.7% for the year 2020. It will gradually decline in the following years, down to 5% in 2021, 4.2% in 2022, and 3.7% in 2023.7 The rate peaked at 14.7% in April 2020 as workers were let go from their jobs in response to the pandemic.
The real unemployment rate includes the underemployed, the marginally attached, and discouraged workers. For that reason, it is around double the widely-reported data you typically see in news articles.
https://www.thebalance.com/us-economic-outlook-3305669
Crude oil increased by $25.00.
Gasoline increased by $0.70.
Lumber 3X increase.
Corn and soybeans.
All since the election.
US Dollar lost over $3000.00 per futures contract since November 2020.
Foreign currencies are increasing.

Liberty Tree

America 1 wrote:

US Economic Outlook for 2021 and Beyond
The March recession ended 128 months of expansion, the longest in U.S. history.1 In Q2, the economy contracted by a record 31.4%. Quarterly GDP had never experienced a drop greater than 10% since record-keeping began in 1947.
In April, retail sales were down 14.7% as governors closed nonessential businesses, but by May sales recovered, increasing by 18.3% as shops and restaurants slowly reopened safely. As the pandemic hit the second wave in the fall, though, sales started falling again, declining by 1.1% in November.
Also in April, the unemployment rate skyrocketed to 14.7% as companies furloughed workers. It remained in the double digits until August, when it steadily declined.45 In the week ending Dec. 12, though, claims rose sharply to 853,000, marking the largest increase in claims filed since mid-September.
Economic Growth
According to the most recent forecast released at the Federal Open Market Committee (FOMC) meeting on Dec. 16, 2020, U.S. GDP growth is expected to contract by 2.4% in 2020. It is estimated to then rebound up to a 4.2% growth rate in 2021, and slow to 3.2% in 2022, and 2.4% in 2023.
Unemployment
The FOMC estimates that the unemployment rate will be 6.7% for the year 2020. It will gradually decline in the following years, down to 5% in 2021, 4.2% in 2022, and 3.7% in 2023.7 The rate peaked at 14.7% in April 2020 as workers were let go from their jobs in response to the pandemic.
The real unemployment rate includes the underemployed, the marginally attached, and discouraged workers. For that reason, it is around double the widely-reported data you typically see in news articles.
https://www.thebalance.com/us-economic-outlook-3305669
Crude oil increased by $25.00.
Gasoline increased by $0.70.
Lumber 3X increase.
Corn and soybeans.
All since the election.
US Dollar lost over $3000.00 per futures contract since November 2020.
Foreign currencies are increasing.

US Economic Outlook for 2021 and Beyond br The Mar... (show quote)

The MSM will do all it can to cover for Biden.

Radiance3

PeterS wrote:

I think some of our pretend conservative economist... (show quote)

=================
Nonsense Peter S. Results of the economy has been still affected by the low tax rate of president Donald Trump. The corporate financial reports ending Dec. 31, 2020, and finalized in March 2021, were all positive due to the low tax rate of Donald Trump.

Until now, the higher tax rate impost by Biden takes effect, then various segments of the economy will decline. Results of Corporate Financial reports will be negative by calendar year-ending Dec. 31, 2021, and any fiscal year ending in 2021, and beyond.

Biden planned to raising the Federal income tax, involving corporate and individual tax, the capital gains tax, the estate tax, and all kinds of taxes that the federal government collects. The purpose is to get funding for all his activities which dig further our national debts.

The democrat state government will raise taxes as well. These include the property tax, the state income tax, the state sales tax, and other taxes they collect.

Meanwhile Biden has been digging the federal funding from the US Treasury that deepens national debts, and budget deficits to the highest of $123 trillion.

Radiance3

America 1 wrote:

US Economic Outlook for 2021 and Beyond
The March recession ended 128 months of expansion, the longest in U.S. history.1 In Q2, the economy contracted by a record 31.4%. Quarterly GDP had never experienced a drop greater than 10% since record-keeping began in 1947.
In April, retail sales were down 14.7% as governors closed nonessential businesses, but by May sales recovered, increasing by 18.3% as shops and restaurants slowly reopened safely. As the pandemic hit the second wave in the fall, though, sales started falling again, declining by 1.1% in November.
Also in April, the unemployment rate skyrocketed to 14.7% as companies furloughed workers. It remained in the double digits until August, when it steadily declined.45 In the week ending Dec. 12, though, claims rose sharply to 853,000, marking the largest increase in claims filed since mid-September.
Economic Growth
According to the most recent forecast released at the Federal Open Market Committee (FOMC) meeting on Dec. 16, 2020, U.S. GDP growth is expected to contract by 2.4% in 2020. It is estimated to then rebound up to a 4.2% growth rate in 2021, and slow to 3.2% in 2022, and 2.4% in 2023.
Unemployment
The FOMC estimates that the unemployment rate will be 6.7% for the year 2020. It will gradually decline in the following years, down to 5% in 2021, 4.2% in 2022, and 3.7% in 2023.7 The rate peaked at 14.7% in April 2020 as workers were let go from their jobs in response to the pandemic.
The real unemployment rate includes the underemployed, the marginally attached, and discouraged workers. For that reason, it is around double the widely-reported data you typically see in news articles.
https://www.thebalance.com/us-economic-outlook-3305669
Crude oil increased by $25.00.
Gasoline increased by $0.70.
Lumber 3X increase.
Corn and soybeans.
All since the election.
US Dollar lost over $3000.00 per futures contract since November 2020.
Foreign currencies are increasing.

US Economic Outlook for 2021 and Beyond br The Mar... (show quote)

================
That economic forecast, presented by the LIBS and MSM's showed contraction in 2020, due to the pandemic that greatly affected all our ways of living. Years from 2017 to 2019, economy was great.

However, their forecast presented the outlook for the 2021 and beyond will be all robust and positive. I don't think so. I expect briefly. Unemployment goes up due to Biden's dependency of products from factory in China. When this happens, unemployment goes up. The highest taxes that Biden will impose, corporate will reduce employees to reduce overhead cost. Or US manufacturing companies move to foreign countries with low overhead to make profits.

Corporate profits decline, due to high overhead cost. Therefore lower taxable income. Taxes paid to federal decline. Inflation is already taking effect at present.

Similar of this was done during the Barack Obama administration. For fiscal year 2021, as soon as Biden's raising of federal taxes takes effect, unemployment will rise. GDP will decline. The Biden's tax rate has not yet been implemented.

Once the tax rates takes effect, corporate will reduce workers to lower overhead cost. Most of them will be covered briefly by unemployment insurance. Once that expires, most of them will be using the SSI, and food stamps to augment their livelihood. Part time workers multiply to deceive the unemployment records. More federal expenditures are needed to cover the cost of food stamps, SSI, unemployment insurance, and medical expenses.

China is making so much money from US importations of their cheap manufactured products, due to cheap labor. China is the highest polluted country in the world.

Due to Biden's climate change control, Biden will make China the cheap market producer and manufacturer of all products for US consumptions. Results, China will become the richest, and most powerful country in the world. US becomes China's consumer. Then US declines its economy and world power. Biden will make US subservient to China.

I beleive Biden is making the US citizens decline financially to be more dependent on the Federal. Therefore their power increases, the people decrease. This is a prelude to Socialism and Communism. Leveling the playing field is one of the objectives of the Great Reset. While the few elites, the richest will be at the top to direct how we live. Our independence is lost and dependency prevails. Capitalism and freedom is gone. [/i]

Ronald Hatt Loc: Lansing, Mich

PeterS wrote:

I think some of our pretend conservative economist... (show quote)

**BIDEN ADMINISTRATION...*ECONOMIC CATASTROPHE, *ULTRA RACISM, *Illegal alien invasion, *sanctuary cities, *harboring convicted criminals, *voting criminality, *HATRED OF THE POLICE ENTITIES, *FOREIGN POLICY DEBACLE, *CRIMINALITY IN THE *BIDEN, *OBAMA {*BATH HOUSE BARRY}, *CLINTON, & *JOHN KERRY World of *political criminal cartels, & more....{ YOU AIN'T SEEN NUTHIN YET, MY DEMONCRAT HOMIE!}

IT WON'T HAPPEN OVERNIGHT...But...It will happen! This does not make Conservatives happy....we are all going down together, thanks to the irresponsible voting of the Demoncrat party, & its irresponsible electorate!!

Radiance3

EmilyD wrote:

That is Trump's doing... Biden has only been in office for three months, and most of it he has spent in his basement twiddling his thumbs. There's no way that reversing Trump's EO's on everything is helping this economy. Just wait....give Biden time. He'll screw things up like Obama said he always does.

You and I both know that if the economy tanks at any point in Biden's term, you will blame it on Trump. Try as you might, you can't have it both ways...

===============
Actually Biden is already following the legacy of Barack Obama in terms of our economy and the leveling of peoples' economic conditions. There are varied reasons for this.
To implement his "hope and change", whatever that is.
To level the playing field ensuring that people becomes equal.

With the advent of this Great Reset, the main objective is making the world population equal. Except the richest at the top who will conduct and mandate how to manage the world population to achieve equality.
That is one of Biden's purpose in raising taxes for the rich to lower their status.

While the richest at the top becomes the the masters. All the richest people of the world have frequent meetings on their plans already.

It is the most oppressive to us who are used to freedom and capitalism under the guidance of God.
All these will disappear, when the Reset takes effect.

Sicilianthing

PeterS wrote:

I think some of our pretend conservative economist... (show quote)

>>>

There is no rebound in the Economy Peter... you keep believing all this scripted narrative crap about the spike but it’s all fake News !

Stores are closing everywhere and the damage from a year of lockdowns is just now showing up on the bottom lines of Core GDP Drivers.

Wtf is wrong with you seriously ?

Radiance3

Sicilianthing wrote:

>>>

There is no rebound in the Economy Peter... you keep believing all this scripted narrative crap about the spike but it’s all fake News !

Stores are closing everywhere and the damage from a year of lockdowns is just now showing up on the bottom lines of Core GDP Drivers.

Wtf is wrong with you seriously ?

=================
I went to the mall yesterday. Not been there since last year. I was surprised most of the big stores closed, Bon Marche one of the biggest, is closed, and all other stores are empty. It was almost empty mall. Very sad what is going on.

Sicilianthing

Radiance3 wrote:

=================
I went to the mall yesterday. Not been there since last year. I was surprised most of the big stores closed, Bon Marche one of the biggest, is closed, and all other stores are empty. It was almost empty mall. Very sad what is going on.

>>>

Yep I see more stores around here closing than last year...

Peter is off his rocker

America 1 Loc: South Miami

Radiance3 wrote:

================
That economic forecast, presented by the LIBS and MSM's showed contraction in 2020, due to the pandemic that greatly affected all our ways of living. Years from 2017 to 2019, the economy was great.

However, their forecast presented the outlook for 2021 and beyond will be all robust and positive. I don't think so. I expect briefly. Unemployment goes up due to Biden's dependency on products from factories in China. When this happens, unemployment goes up. The highest taxes that Biden will impose, corporate will reduce employees to reduce overhead cost. Or US manufacturing companies move to foreign countries with low overhead to make profits.

Corporate profits decline, due to high overhead costs. Therefore lower taxable income. Taxes paid to federal decline. Inflation is already taking effect at present.

Similar of this was done during the Barack Obama administration. For the fiscal year 2021, as soon as Biden's raising of federal taxes takes effect, unemployment will rise. GDP will decline. The Biden's tax rate has not yet been implemented.

Once the tax rates take effect, corporate will reduce workers to lower overhead costs. Most of them will be covered briefly by unemployment insurance. Once that expires, most of them will be using the SSI, and food stamps to augment their livelihood. Part=time workers multiply to deceive the unemployment records. More federal expenditures are needed to cover the cost of food stamps, SSI, unemployment insurance, and medical expenses.

China is making so much money from US importations of their cheap manufactured products, due to cheap labor. China is the highest polluted country in the world.

Due to Biden's climate change control, Biden will make China the cheap market producer and manufacturer of all products for US consumption. Results, China will become the richest and most powerful country in the world. The US becomes China's consumer. Then the US declines its economy and world power. Biden will make the US subservient to China.

I believe Biden is making the US citizens decline financially to be more dependent on the Federal. Therefore their power increases, the people decrease. This is a prelude to Socialism and Communism. Leveling the playing field is one of the objectives of the Great Reset. While the few elites, the richest will be at the top to direct how we live. Our independence is lost and dependency prevails. Capitalism and freedom are gone. [/i]

================ br That economic forecast, prese... (show quote)

Biden’s win boosts the Chinese yuan, but the Trump effect will be more lasting
PUBLISHED THU, NOV 12 2020
Analysts have flagged that a Biden win is likely to be more bullish for the Chinese currency. And indeed, investors seem to think so, with the yuan spiking after his projected win.
Still, analysts say that the outlook for the yuan isn’t purely strength gained on optimism for the Biden administration, but includes a myriad of factors, including geopolitical motivations, a weaker dollar, and China’s economy.
Even before Biden’s win, China has been advocating for greater use of the yuan globally.
The Chinese yuan, which has steadily strengthened this year, spiked even further in the days leading up to and after Joe Biden’s projected election victory.
Analysts have flagged that a Biden win is likely to be more bullish for the Chinese currency. And indeed, investors seem to think so.
As Biden’s victory seemed to grow increasingly likely last week, the offshore yuan rallied to below the 6.60 mark. It hit a 28-month peak on Monday after he became the projected winner and appreciated even further after.
The Trump administration has taught China a lesson in economic security.
https://www.cnbc.com/2020/11/13/chinese-yuan-after-biden-election-win-trumps-trade-war.html

ChJoe

EmilyD wrote:

That is Trump's doing... Biden has only been in office for three months, and most of it he has spent in his basement twiddling his thumbs. There's no way that reversing Trump's EO's on everything is helping this economy. Just wait....give Biden time. He'll screw things up like Obama said he always does.

You and I both know that if the economy tanks at any point in Biden's term, you will blame it on Trump. Try as you might, you can't have it both ways...

The border and their lies about it are a prime example. The border has gone to pot. As Biden's economic effects hit, like huge increases in taxes, then we will watch. Already inflation is rising but not being reported.

What part of the economy is spiking, by the way? Did you know we already have a growing and looming supply shortage?