Senile Trump says Biden is going to lead us into ww2

Lol. Wrong.

 

Are we talking budget and debt, or the cost of things, aka inflation?
Real story- the feds want inflation down to 2% it's currently 3.67% down from 9%+. We have to always have inflation or nothing would go up in value.

 

I don't think you understand the point.

9+% inflation is such an atrocious number that cutting it in half isn't really something to write home about.

If my batting average is .075 and I double it... it sounds good that I doubled it, but I'm still hitting below the Mendoza line. That's how bad that initial number is.

 

You weren't comparing apples to apples. The world has been suffering from high inflation, not just us. It WAS over 9% and now it is 3.67% the feds want it down to 2%. It's less than half of what it was so something was done to get it down, while other countries are still suffering. The numbers are the numbers. If trumph was president you'd say he's doing a great job, just has to finish it to satisfy the feds. Whatever.

 

If Trump was the President, he wouldn't have prolonged pandemic benefits almost a year beyond what was needed. That's the whole point. There is a line there where the government keeping things locked down and COVID benefits no longer became justifiable.

And yes, a lot of it was uncontrollable supply chain issues. But this Administration along with Democrats would have you believe that supply chain issues are entirely to blame and that is not even remotely true. The extent of the problem could've been much better if we weren't so stupid.

 

The total shutdown of the economy started mid-March 2020. (1st Q). That’s when shit started hitting the fan.
The PPP passed March 16th 2020 (1st Q), which authorized massive government assistance to businesses.
Oil prices actually went all the way negative April ‘20. (2nd Q). Not sure if that was “peak deflation”, but it was notable.

This was the period of greatest disparity with people staying completely at home, the govt sending handouts, and price deflation. It started in March and lasted approximately 3 months. That pretty well correlates to the peak of the chart, which is essentially a temporary and false spike in real incomes (temporary govt assistance spiking income at the same time as a deflationary environment, that’s how you get a bump in “real wages”).

In finance most things are done “as of” the end of the month, and by March 31st we were pretty much in full shutdown mode already. So that 1Q number already captures at least some serious distortions from the pandemic, making it kind of ridiculous to use as a comparable to anything else.

 

Probably.

Im pretty sure the only reason Trump sent out the 2nd wave of “personally signed” stimulus checks, was that he thought it would buy him the election.

 

If I’m wrong, then what specific policy curtailed oil production, only to “allow” it to hit 13million?

 

I don't know about "ridiculous." It happened at the end of Q1. But you make a fair point as far as "the end of" Q1, we were in the pandemic, yes. We generally thought it would be over after a few weeks, but we were in it.

 

Yep, always assign malicious motives to the Orange Man, even when he does a good thing.

 

That's a good point. Upon further research, I don't think government payments are included as wages. I think what happened in Q1 and Q2 2020 is a lot of lower income people (service industry in particular). lost their jobs but the higher income white collar workers tended to keep theirs. So the wage mix changed.

Either way, the wage increases in 2020 were artificial and unsustainable.

Wages grew in 2020 because the bottom fell out of the low-wage labor market: The State of Working America 2020 wages report

 

Okay. Fair enough.

 

A good thing? I thought it was a bad thing?

In either case, the motive is a safe assumption.

Hell most politicians are motivated primarily by self preservation. That is the defacto assumption anyway. But with Trump we aren’t looking at anything resembling normal, we are looking at a severely narcissistic sociopath.

 

https://www.cnbc.com/2021/01/27/biden-suspends-oil-and-gas-drilling-in-series-of.html

https://www.csis.org/analysis/biden-makes-sweeping-changes-oil-and-gas-policy

"With nearly 25 percent of U.S. oil and gas production coming from federal lands, the policy shift may have significant implications for future investment and production."

 

The vaccines were released in that short stint of time between the election and the inauguration of President Biden. I remember because the timing was impeccable.

Absolutely perfect to help Joe Biden.

 

Yet, we are at 13 million barrels. Hmm.

 

Admit it. People remember how good it was when Trump was at the helm pre-pandemic. They compare it to now. Hence the recent polls showing Trump ahead by several points.

 

I would also add that the number is higher than at any time during the administration of the defeated former president. Global crude production growth seen in 2023, 2024 as US, others offset OPEC cuts: EIA

 

This is "must see" TV.: