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The Economy

MajorRewrite said:
I’ve been posting economic news in the “Thanks Biden” thread, but I think it’s time for a new dedicated thread.

Let’s begin with today’s good economic news:

US economic growth increased last quarter to a healthy 2.8% annual rate



Good news indeed.

The economy is cyclical so an eventual downturn is inevitable, but it’s not here yet.

I’m sure all Americans will be pleased by the continued strength of the economy.
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Biden sucked as a POTUS. Too focused on woke retards
 
dmallord said:
No at all.

What you have stated falls into the realm of classic Cognitive Bias and Logical Fallacy. More appropriately under
Disconfirmation Bias. Where someone is trying to discredit arguments they disagree with by actively denying the counterpoints of another, accusing the other of not accepting their 'objective' set of evidence as the final word on the matter.

Such a person is often attempting to have the last word on the conversation as though that trumps the conversation.

Often, it is the other readers who will draw their own conclusions based upon their personal views and/or added research to see which set of 'actual evidence' holds water.

I'm of the opinion that your evidence is biased more than mine. You stack blocks of facts that all lean toward your objective. I include facts that offer pros and cons, then weigh in on an opinion about them. I don't see that in your commentary.
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One seldom sees a bitchslap of this magnitude around these parts anymore.

I'd be interested in seeing if this epic beatdown registered on any seismometers in America.

Well done, Mr. Mallord.
 
Inflation heated up in August at a 2.9 percent annual rate — a faster pace than in June and July — as trade policy continues to filter into consumers’ wallets. The Labor Department’s consumer price index for August picked up as expected, and well above April’s post-pandemic low of 2.3 percent.

Core inflation, which strips out food and energy and is viewed as a steadier gauge of underlying pressures, rose 3.1 percent from a year earlier, matching economists’ projections as well as July’s annual pace. If monthly gains firm over the coming months, some economists warn annual inflation could approach 4 percent by year’s end.
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https://www.washingtonpost.com/business/2025/09/11/august-inflation-trump-tariffs/
 
Lazaran said:
That seems legit (and troubling), but I’ll have to wait for BabyBoobs’ spin / gaslighting before forming a final opinion / conclusion…

😑

We. Told. Them. So.

🌷
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Regarding beef, click on the 5 year or 10 year view of the FRED link MR posted. You’ll see that it’s a trend that began years ago. Here’s why: https://www.cbsnews.com/news/beef-prices-record-highs-drought/

Yes, tariffs are an added contributing factor. The US imports a lot of beef, but there are more fundamental factors that triggered this trend which began long before April of 2025.
 
dmallord said:
No at all.

What you have stated falls into the realm of classic Cognitive Bias and Logical Fallacy. More appropriately under
Disconfirmation Bias. Where someone is trying to discredit arguments they disagree with by actively denying the counterpoints of another, accusing the other of not accepting their 'objective' set of evidence as the final word on the matter.

Such a person is often attempting to have the last word on the conversation as though that trumps the conversation.

Often, it is the other readers who will draw their own conclusions based upon their personal views and/or added research to see which set of 'actual evidence' holds water.

I'm of the opinion that your evidence is biased more than mine. You stack blocks of facts that all lean toward your objective. I include facts that offer pros and cons, then weigh in on an opinion about them. I don't see that in your commentary.
Click to expand...
What I hve staed falls into teh realm of facts with evidence. But you have done no such thing.
 
I showed you numerous articles about how bad Obama's economy was. Response: attack me for using articles from that time.

I showed you evidence of how bad he Biden economy was, with actual numbers. Response: Claim I'm uneducated.

And then attack me for pointing out that he's made no substantive argument.

Yawn.
 
SkyBubble said:
I showed you numerous articles about how bad Obama's economy was. Response: attack me for using articles from that time.

I showed you evidence of how bad he Biden economy was, with actual numbers. Response: Claim I'm uneducated.

And then attack me for pointing out that he's made no substantive argument.

Yawn.
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Welcome to the Politics Board where Miserable left wingers come to drown in their tears. They hate facts and data.
 
dmallord said:
No at all.

What you have stated falls into the realm of classic Cognitive Bias and Logical Fallacy. More appropriately under
Disconfirmation Bias. Where someone is trying to discredit arguments they disagree with by actively denying the counterpoints of another, accusing the other of not accepting their 'objective' set of evidence as the final word on the matter.

Such a person is often attempting to have the last word on the conversation as though that trumps the conversation.

Often, it is the other readers who will draw their own conclusions based upon their personal views and/or added research to see which set of 'actual evidence' holds water.

I'm of the opinion that your evidence is biased more than mine. You stack blocks of facts that all lean toward your objective. I include facts that offer pros and cons, then weigh in on an opinion about them. I don't see that in your commentary.
Click to expand...
Were you staring at yourself in the mirror when you crafted this narrative. :D
 
SkyBubble said:
I showed you evidence of how bad he Biden economy was, with actual numbers. Response: Claim I'm uneducated.
Click to expand...

You provided no data about the economy during the a Biden administration. 👍

BabyBoomer50s said:
Welcome to the Politics Board where Miserable left wingers come to drown in their tears. They hate facts and data.
Click to expand...

… he said in a thread full of facts and data.

MAGA sheep get so weird when faced with bad economic news while Donnie is in office. 😆 They can’t handle it.
 
In the first 11 days of September we learned this about the economy:
  • For the first time since 2021, more Americans are out of work than there are job openings
  • Unemployment insurance initial claims jumped to the highest level since 2021
  • Manufacturing contracted for the 6th straight month
  • Construction spending continued to drop
  • Unemployment ticked up to 4.3%
  • The US agricultural trade deficit widened
  • CPI inflation index increased to 2.9%
  • Rent continued to soar
That’s a lot of bad news in less than two weeks.
 
MajorRewrite said:
In the first 11 days of September we learned this about the economy:
  • For the first time since 2021, more Americans are out of work than there are job openings
  • Unemployment insurance initial claims jumped to the highest level since 2021
  • Manufacturing contracted for the 6th straight month
  • Construction spending continued to drop
  • Unemployment ticked up to 4.3%
  • The US agricultural trade deficit widened
  • CPI inflation index increased to 2.9%
  • Rent continued to soar
That’s a lot of bad news in less than two weeks.
Click to expand...

I’ll wait for BabyBoobs’ "interpretation" of those disturbing economic trends before forming any conclusions…

😑

We. Told. Them. So.

🌷
 
MajorRewrite said:
You provided no data about the economy during the Biden administration. 👍
Click to expand...
I did. For one thing, as I noted above, a study showed that a basket of groceries that cost $100 in 2019 (under Trump, prior to the pandemic lockdowns) cost $136 in 2024 (under Biden.) That's a 36% increase in 5 years. Gas prices were significantly higher when Biden left office than when he took office. They were down a little from their peak, but still much higher. Clothing and housing were also up.

Costs were up around 30% overall, but wages were up around 15%. That means that even with increased pay, working people got further behind.

That's called a bad economy.

Trump inherited a bad economy both times. In the first term, it was growing and thriving until the pandemic hit. So far, the second term hasn't worked out well. It is less than a year into the term, however.
 
SkyBubble said:
I did. For one thing, as I noted above, a study showed that a basket of groceries that cost $100 in 2019 (under Trump, prior to the pandemic lockdowns) cost $136 in 2024 (under Biden.) That's a 36% increase in 5 years. Gas prices were significantly higher when Biden left office than when he took office. They were down a little from their peak, but still much higher. Clothing and housing were also up.

Costs were up around 30% overall, but wages were up around 15%. That means that even with increased pay, working people got further behind.

That's called a bad economy.

Trump inherited a bad economy both times. In the first term, it was growing and thriving until the pandemic hit. So far, the second term hasn't worked out well. It is less than a year into the term, however.
Click to expand...

Why don’t you provide a link to the source for your “data”? Is it because you made it up?

Inflation in 2024 was 2.6%.

And low inflation was just one of many positive trends of the economy Trump inherited, as I demonstrated before.
 
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