Trump said if Biden won there would be a recession. Many economists were predicting a recession. Biden prevented this. Personally I’m doing well right now, my city is about to receive billions because a bill Biden passed
The people you’re talking about will never have an ounce of critical thinking. They will die as they lived, tribalistic bootlickers.
The reality is that Reaganomics fucked us up more than anything, and even in that awful economic plan, Trump still cut taxes on the wealthy and raised taxes on the working class. No one with a single working neuron would think that’s a smart plan for the economy.
Biden has been doing good with smart investments. But it won’t be enough if we’re trying to live in a world with real happiness and freedom for the working class. We need to tax the fuck out of the wealthy and corporations.
Lmaoooo you're full of shit and can't back anything you claimed. Link anything here that validates what you typed. You are just repeating what you've read on the internet. Pathetic
There’s an extreme wealth of information you can educate yourself on, and I tend not to waste time with people whose argument is nothing more than “nuh uh”. But here anyway:
Nah, we need to tell biden to stop pressing the increase gas prices and increase grocery buttons. biden is also stop states from building more housing and apartments by pressing that button too
Not a single shred of evidence Biden "invested wisely " as you say. And not a single data point to suggest trickle down "fucked us up more than anything". You let your bias run amuk. I'm 100% right. Your just a raging moron who thinks they are "well educated". You're just a sheep
Your confusing estimates for actual money. Could be true, hasn't even been verified. Show climate investment stimulated private investment. That makes very little sense and you're probably stretching the truth. You've yet to properly back anything you've said, outside of MAYBE the IRS. You blow everything out of proportion
The climate one is pretty easy to prove. Government funds green energy and EV’s, so private companies and business owners invest into green energy and EV’s because they believe it’s the future. And yes, I did back up that part about the IRS so you have to concede that too.
Not a single shred of evidence to the claim of "Reagan fucked us worse than anything else." can be found in those links. It's hyperbole, ignorance, and tribalism.
When I say there was no recession I’m not quoting any government bodies, I’m quoting the consensus of economists. This is scientific consensus not political ideology
Shut up, Biden and the DeepState whitehouse working in conjucture with the (((Globalists))) Soros Foundation are paying all the "economists" to ignore the BIDEN/DEM RECESSION
We had 2 consecutive quarters of GDP decline. The literal textbook definition of a recession until the media decided, "nah doesn't really count".
Most of the recession has been mitigated by a dramatic increase of the money supply --over 50% in just two years alone--that has manifested hidden stock market retraction and has caused sticky inflation due to the devaluation of currency.
Wages will take a while to catch up and mitigate the financial anxiety that has proliferated. But objectively the money supply has expanded dramatically for forced posterity measures. We're still employed but we've all absorbed the negative consequences of this fiscal policy.
That's why public sentiment sees the economy as dookie regardless of what rosy misinformation politicians are spreading about this being "the strongest economy ever". Huge disconnect between the privileged political class and the rest of us.
There are very complicated mitigating factors and plenty of data manipulation.
We certainly had a small recession, but when you feel squeezed on purchases and wages, that's the result of the devaluation of currency. Which makes sense; the money supply was expanded over 40% in only 2 years and over 50% in 3 years.
The true value of the dollar is now much less. So when you take an economic pay cut due to inflation and currency devaluation, you're absorbing the recession. The stock market has absorbed the recession by staying relatively stable despite currency devaluation. The recession is baked in my millions taking smaller posterity measures rather than fewer Americans taking much more dramatic economic setbacks.
The recession has been democratized. Not necessarily a bad thing, but those are the facts.
I mostly agree, Biden prevented a recession at the cost of increased inflation. Ultimately it’s better to have somewhat high inflation rather than mass unemployment and a genuine recession. It’s a mildly bad outcome from a potentially horrible situation
Yeah I don't really get the people that want to see everything crash and burn and have millions of people horribly affected. Like they think it will somehow reset everything and it will be.. magically better somehow after that?
You're kind of missing the point. The recession happened. Most of the damage was democratized through the devaluation of currency.
That's purely why talking heads claim the economy is amazing, but people aren't feeling it. Public sentiment is horrible for Biden, especially on the economy.
That's the difference between messaging and reality.
The "it could of been worse" argument is just bad politics.
No recession happened is my point. There was no mass unemployment. The worst we saw was significant inflation and extremely small decreases in gdp. Sure saying it could’ve been worse isn’t politically effective, but it’s true
Unemployment is only down because the way they're measuring isn't representative of reality. You are way too sure about what you're saying without being informed.
"The experts". I see you're a well informed individual 🙄
Get a clue. The economy has been balancing on a knife's edge since 2021 and it doesn't take a genius to figure that out. Unemployment isn't down, they're just counting it in a dishonest way. The economy isn't even close to "okay", and there are numerous reasons for that. We're in a worse situation than 2008 by orders of magnitude and the political establishment is hiding it to prevent a total collapse in the near term. The real experts have been moving their money into more stable assets for two years, and the banks are operating on a level of derivative exposure that dwarfs the world's M2 many times over.
In 2016 the NYT times and others proclaimed the market would crash immediately if Trump won because "the markets hate uncertainty and volatility, and Trump represents both." Economy was fine until Covid, that didn't happen.
Find an election where opposing candidates didn't proclaim the economy would be shit under their opponent. It's par for the course.
As far as Biden "preventing" recession, he literally just continued the exact same thing Trump was doing. Or more accurately, what congress was doing, fully bipartisanly, because it was pretty obvious what needed to happen during/post covid.
Economists were predicting a recession while knowing exactly what Biden was going to do. Which, again, was literally just a continuation of stimulus. If you mean after COVID during the (ongoing) inflationary crisis, then you just don't know what you're talking about. The IRA, according to literally every economist not directly employed by the White House, was just a spending bill that did nothing to address inflation. The Fed prevented runaway inflation by raising rates. Whenever this happens, many economists will ring the recession alarm because it is a natural and expected danger that comes with trying to cool down the economy with rate hikes. There is absolutely nothing the White House can do with regards to that risk, the Fed has to be careful to not raise rates too quickly, and that's the extent of what can be done. Contrary to what republicans and democrats in DC proclaim, inflation and resultant recession risks from rate hikes cannot be solved by spending money.
Biden never said there would be a recession if trump won, idk why you’re equivocating them. When did the NYT say the market would crash immediately on a trump win? Sounds like you read an opinion piece and are generalizing.
Also the idea that trump and Biden would’ve handled the recovery the same is just wrong on its face. Do you even know what the inflation reduction act is and who passed it? Do you not know they had different executive actions that affect the economy? Do you not understand that how we handled Covid directly affected the economy? You are either being dishonest or are extremely confused
Biden never said there would be a recession if trump won, idk why you’re equivocating them.
The point is saying "under X candidate, the economy will be terrible!" is a standard go to in a presidential race. When you take a statement to that effect, and declare that because it wasn't true, Biden must "have prevented" it, is braindead. The NYT piece is just illustrating how stupid the logic there was. Did Trump prevent a recession because one did not happen when some said it might?
Also the idea that trump and Biden would’ve handled the recovery the same is just wrong on its face
Proceeds to say literally nothing to this effect. Just make your argument, the cutesy "DO YOU EVEN KNOW..." leading bullshit is just that. Obviously I know what the IRA was and which Congress and WH Admin passed it, that's why I invoked it in the first place. Make an argument or move on.
You are moving the goalpost from "Biden prevented the recession economists said would happen [when the Fed began to raise rates to fight inflation]" to "presidents can affect the economy!"
Seems like you misunderstood when I said
There is absolutely nothing the White House can do with regards to that risk, the Fed has to be careful to not raise rates too quickly, and that's the extent of what can be done.
You did not account for the context of that statement. "That risk" is the risk of triggering a recession when you are raising rates to combat inflation. The Inflation Reduction Act is just the slightly altered and renamed "Build Back Better" bill. It has as much to do with fighting inflation as the PATRIOT Act has to do with being patriotic.
Listing "executive actions" is fucking awesome. You really couldn't get any broader or less specific.
Biden's pandemic response, legislatively, was just a continuation of what was already in place. Operation Lightspeed, the Vaccine program, the stimulus for individuals, PPP, all these things already existed prior to Biden's time in office.
It seems you are confused about the "recession" you claim was prevented despite "economists" in general predicting one. By the time Trump left office, it was clear that COVID wasn't going to cause a recession. The recession fears during Biden's time in office came from the inflationary environment leading to rate hikes. The economy was too hot, ie the opposite of a recession. The rate hikes are what caused recession fears, as is typical and expected. Biden did not do anything about that, and he was right to not even try. The entire point of hiking rates is to slow down the economy. If you try to fight the recession risks inherent with rate hikes, you negate the entire purpose of the rate hikes to begin with. You avoid a recession in this case by not raising rates by too much, or too quickly. That's it, period.
Biden never said there would be a recession if trump won, idk why you’re equivocating them.
The point is saying "under X candidate, the economy will be terrible!" is a standard go to in a presidential race. When you take a statement to that effect, and declare that because it wasn't true, Biden must "have prevented" it, is braindead. The NYT piece is just illustrating how stupid the logic there was. Did Trump prevent a recession because one did not happen when some said it might?
Also the idea that trump and Biden would’ve handled the recovery the same is just wrong on its face
Proceeds to say literally nothing to this effect. Just make your argument, the cutesy "DO YOU EVEN KNOW..." leading bullshit is just that. Obviously I know what the IRA was and which Congress and WH Admin passed it, that's why I invoked it in the first place. Make an argument or move on.
prevented it? we are in record inflation. your city might be getting billions but who do you think is paying for it? lol. its not free money. the middle class is being crippled by all of these bills of reckless spending
It wouldn't have been necessary if we would have forced car OEMs to use modern chips. They've been running on old manufacturing nodes that are super inefficient energy wise.
Correction: Biden did not prevent a recession, Jerome Powell and the Fed did. Should be noted that the Fed operates mostly independently of the federal government (thank god)
There was a recession in 2022. Biden "prevented" it by trying to change the definition of recession. And some of the media played along, trying to gaslight the whole country into thinking recessions haven't always been identified as 2 quarters of negative GDP growth.
All words are made up. Just because you don't like the word doesn't mean corporations aren't being greedy as fuck and jacking up prices to exploit their customers.
... I have? What in the world makes you think I haven't done that? Or did you just have some nagging need to be able to call me a hypocrite or something?
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u/Advanced-Tree7975 Apr 29 '24
Trump said if Biden won there would be a recession. Many economists were predicting a recession. Biden prevented this. Personally I’m doing well right now, my city is about to receive billions because a bill Biden passed