Morgan Stanley credits Bidenomics with 'much stronger" than expected GPD growth

again, very short sighted to act like Biden had nothing to do with it. Yes, it was a group of senators who wrote and negotiated the bill, but to not give Biden any credit for it is pretty ridiculous.

 

Stop acting like its just Biden. I have always said this. Regardless of POTUS.

You just proved my point.
He didnt write the bill.

The credit goes to you and I. WE drive the economy.

 

I didn’t say it was just Biden, but you have yet to admit that Biden played a role in it. I like politicians who work across the aisle and compromise to get things done. One party seemed to be able to accomplish this and the other doesn’t.

 

Agree to disagree on the power of one man to impact the economy.

 

Again, this is ignoring what the Morgan Stanley analyst is saying.

"Biden’s Infrastructure Investment and Jobs Act is “driving a boom in large-scale infrastructure,” wrote Ellen Zentner, chief U.S. economist for Morgan Stanley, in a research note released Thursday. In addition to infrastructure, “manufacturing construction has shown broad strength,” she wrote."

I don't want to speak for you, but I know for a fact, I have not built a single new manufacturing plant. So while I appreciate your wanting to give me credit, I can't take it.

 

Presidents who push through major infrastructure bills and who push through major increases in spending on technology most certainly do impact the economy.

 

You do buy the products that plants manufacturer. I guess that is what I am trying to say. The need for such plants is driven by you and I.

 

Just read that prices have increased 16% since 2020. If true, unless you’ve received a 17% raise you’re getting poorer every day.

 

I could just as easily buy Chinese products.

 

And then no one in America would have the demand to build plants.

The point is, consumers drive the economy. Plants are only built to accommodate consumer demand.

 

Bad news. Workers may make more. Can’t have that. Strong measures needed to make subsistence life remains the default


WASHINGTON — The Federal Reserve raised its key interest rate Wednesday for the 11th time in 17 months, a streak of hikes that are intended to curb inflation but that also carry the risk of going too far and triggering a recession.

The move lifted the Fed’s benchmark short-term rate from roughly 5.1% to 5.3% — its highest level since 2001. Coming on top of its previous rate hikes, the Fed’s latest move could lead to further increases in the costs of mortgages, auto loans, credit cards and business borrowing.


Some Fed officials have said they worry that the still-brisk pace of job growth will lead workers to demand higher pay to make up for two years of inflationary prices. Sharp wage gains can perpetuate inflation if companies respond by raising prices for their customers.




Federal Reserve raises its key rate
Federal Reserve raises its key rate - Tampa Bay Times

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Didn’t start with Biden, but just being real …

“Tax his land, Tax his bed, Tax the table At which he's fed.
Tax his work, Tax his pay, He works for peanuts Anyway!
Tax his cow, Tax his goat, Tax his pants,
Tax his coat.
Tax his tobacco, Tax his drink, Tax him if he Tries to think.
Tax his car, Tax his gas, Find other ways To tax his ass Tax all he has Then let him know That you won't be done Till he has no dough.
When he screams and hollers; Then tax him some more, Tax him till He's good and sore.
Then tax his coffin, Tax his grave, Tax the sod in Which he's laid.
When he's gone, Do not relax, It's time to apply The inheritance tax."