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Biden 2020
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coachg



Joined: 10 Sep 2000
Posts: 3360

PostPosted: Thu Jul 28, 2022 6:25 pm    Post subject: Reply with quote

mrgybe wrote:
would most people reading your post of a mere three months ago believe that the US economy was a) expanding or b) contracting or c) headed for a significant stock market correction and a recession? Thanks.


And who are "most people"?

Coachg
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mac



Joined: 07 Mar 1999
Posts: 17236
Location: Berkeley, California

PostPosted: Thu Jul 28, 2022 7:05 pm    Post subject: Reply with quote

And this what Republicans and the belligerently “unwoke” have done to America’s image abroad. From Morning Consult,

Quote:
GEOPOLITICS
The Uvalde Shooting and Roe Reversal Have Diminished America’s Standing in Europe, Posing Headwinds for Exports and Tourism

America’s reputational boost evaporated nearly overnight after the Uvalde shooting and plummeted further following the U.S. Supreme Court’s June 24 decision to remove federal protection for abortion rights. A country’s image can matter substantially for industries whose profit margins depend heavily on overseas demand, like export
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swchandler



Joined: 08 Nov 1993
Posts: 10419

PostPosted: Thu Jul 28, 2022 9:25 pm    Post subject: Reply with quote

Have you noticed that mrgybe isn't really promoting anything new, because as we already know, his party isn't offering a real platform with any practical ideas for the future. What he's offering is simply a wide range of ugly complaints that have been coming from the Republican party. Needless to say, they are the party that offers nothing moving us forward in a meaningful way.

mrgybe needs to step up with new ideas that make sense for the future. Frankly, I don't think that he can do that.

He just has the tired arguments focused on opening the door for the oil industry to growth and profit. However, as we all know, pricing of oil products is global, and that Americans will pay market rates irrespective of our total control and market share. It's all about profit, and it's nothing to do about addressing climate change, and the need to develop strategies and support for alternative energy technologies.
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coboardhead



Joined: 26 Oct 2009
Posts: 4195

PostPosted: Fri Jul 29, 2022 12:18 am    Post subject: Reply with quote

https://www.kiplinger.com/investing/604988/are-we-in-a-recession-heres-what-the-experts-say

Mrgybe. I’m not sure “most” would say we’re in a recession. We are in unprecedented times with robust growth after a worldwide pandemic shutdown. My industry nearly shut down for 6 months. But, demand didn’t. So, we now have price increases, labor shortages and material shortages. Contraction of the economy after this is, maybe , not a bad thing...and maybe not a recession.

Yes, inflation is hurting some of us. But, the increases in interest rates the Fed is providing should cool inflation. I do agree that Pandemic stimulus was not provided to those in the most need. An error that began under the previous Administration. Remember that the Trump strategy was to buy middle class votes and the Democrats went along with it. Remember he wanted his name on the checks.

I suspect that one’s choice of “recession or not” is, largely, partisan. If you want Biden out of office, a recession sells well at the voting booths. I’m not surprised you are electing to call this a recession.
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boggsman1



Joined: 24 Jun 2002
Posts: 8887
Location: at a computer

PostPosted: Fri Jul 29, 2022 9:12 am    Post subject: Reply with quote

mrgybe wrote:
Wow! Myopia doesn't even cover it! You are missing the negative growth in the first quarter, at the end of which you told us that the economy was raging. You are missing the negative growth in the second quarter which followed your enthusiastic assessment of the economy. You are missing the 2% decrease in the labor participation rate which is huge. You are missing the fact that household net worth/ record home equity resides with those at the top of the wealth spectrum, driven, in part, by government handouts they didn't need and put straight into savings, and by a housing market hyped by easy money. Perhaps you are unaware that averages can be misleading.

We are in a recession by the most widely accepted definition. Some of the clueless could see this coming and said so.


I would ask you to go to Spokane, or Boise, or Grand Junction, or Salt Lake City and interview the middle class who have good jobs, their modest houses have gone up 50% in value from 2019 to now. Their bank balances are high, and things are quite good.
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mrgybe



Joined: 01 Jul 2008
Posts: 5171

PostPosted: Fri Jul 29, 2022 10:54 am    Post subject: Reply with quote

coboardhead wrote:
Mrgybe. I’m not sure “most” would say we’re in a recession.........I suspect that one’s choice of “recession or not” is, largely, partisan. If you want Biden out of office, a recession sells well at the voting booths. I’m not surprised you are electing to call this a recession.

I have been involved in the global financial markets since 1979 when I was running a billion dollar offshore portfolio for a major US corporation while Boggsy was shopping for Clearasil. Two consecutive quarters of negative GDP has long been accepted as an indicator of a recession by those in the financial markets. Now, an Administration that can't define what a woman is, quibbles over the definition of recession, supported by a Fed chair and Treasury Secretary who completely failed to see what was coming. You are correct, they are quibbling for partisan reasons......to make their ineptness look less egregious.

No sensible person cares what word is used. It is the underlying conditions I care about and have done for more than 12 months. 85% of the country thinks the country is headed in the wrong direction. They may not know the technical definition of a recession, but they know when things are going wrong. Pointing to little pockets of normalcy isn't persuasive.

However, you correct that I want Biden out of office. He has been a disaster and an embarrassment, even worse than I expected. Many here mocked my assertion that an enfeebled President is dangerous. I wonder if they are now part of the 75% of Democrats that don't want Biden to run again.
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boggsman1



Joined: 24 Jun 2002
Posts: 8887
Location: at a computer

PostPosted: Fri Jul 29, 2022 11:21 am    Post subject: Reply with quote

There you have it. As we jockey for mid term positioning , the Republicans have seen there 10 point lead disappear after the country was dealt another blow to medical freedom. So now pinning the "recession" on Biden , which is fair game is the new strategy. Mitch tried to kill the CHIPS act because it will sell well in Ohio, that failed so now its all hands on deck to sell the negativity---including Mr. Gybe.
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mac



Joined: 07 Mar 1999
Posts: 17236
Location: Berkeley, California

PostPosted: Fri Jul 29, 2022 11:59 am    Post subject: Reply with quote

Rest assured that when Mike Fick leaves this orb, there will be another “Isosmart” quoting the Wall Street Journal and ignoring lawlessness and creeping fascism.
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mrgybe



Joined: 01 Jul 2008
Posts: 5171

PostPosted: Fri Jul 29, 2022 12:16 pm    Post subject: Reply with quote

Yup. You're right Boggsy.........same as the "raging" economy, transitory inflation with no impact on those with lower incomes, and my clueless lack of concern about oil company stocks. 85% percent of the country are simply wrong......everything is just fine, and anyone who points to the serious issues facing the country is just "selling negativity" for political gain. High inflation, huge increases in energy costs, out of control illegal immigration/ drug importation, chaotic Afghan withdrawal, China sternly warning Biden off Taiwan, the Saudis telling him to pound their plentiful sand when he begs for more oil, and an increasingly senile President/ invisible Vice President........nothing to see here.
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boggsman1



Joined: 24 Jun 2002
Posts: 8887
Location: at a computer

PostPosted: Fri Jul 29, 2022 12:25 pm    Post subject: Reply with quote

You're funny Mr. Gybe. Those talking points seem crafted right out of CPAC...
I'll choose the glass is half full approach, I always do. You stay in the mud ... Carry on...
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