The BIGGEST BLAME for High Prices in (1)>>the "sleepy" economy is the government . We heading for (2)>>another recession on the horizon. This country is headed into political upheaval not seen before by anybody alive. We really are reliving the 1970's aren't we? Runaway inflation, shitty and weak foreign policy, surging gas prices....if only the music was as good.With Thanksgiving looming, a relatively easy comparison is made in the price of a turkey dinner with all the trimmings compared to the same feast in 2020.This was thought to be the general state of the world economy through the 1950’s and 1960’s. By the mid-1970’s, however, it was evident something was wrong. “Runaway inflation” was generating a vicious spiral of increasing prices. More government will not fix this but instead make it worse. Bug or feature? Production was falling behind demands, unemployment was growing and prices kept rising. (2)>>The American Jobs Plan, his proposed economic recovery act, would seek to employ Americans building green infrastructure to fight climate change. “There is simply no reason why the blades for wind turbines can’t be built in Pittsburgh instead of Beijing,” Biden said. (2.1)>>A wide range of economists agree with the president — but only in part. They generally accept his argument that in the long run, the bill and his infrastructure plan could make businesses and their workers more productive, which would help to ease inflation as more goods and services are produced across the economy.But many researchers, including a forecasting firm that Mr. Biden often cites to support the economic benefits of his proposals, say the bill is structured in a way that could add to inflation next year, before prices have had time to cool off.In recent months a new complication has been added to the maze of problems bogging down the economy—record-high interest rates, especially in the U.S. As if by a rock thrown into a pond, the ripples have spread into the economy of all Western industrialized nations.In the U.S. high interest rates tighten the money supply by discouraging would-be borrowers from putting into circulation more inflated money. But high interest rates also restrain the flow of money into business investments, badly needed to get the stagnant economy moving.Consumer prices soared in October 2021 and are now up 6.2% from a year earlier – higher than most economists’ estimates and the fastest increase in more than three decades. At this point, that may be no surprise to most Americans, who are seeing higher prices while shopping for shoes and steaks, dining at restaurants and pumping fuel in their cars.Americans have noticed increasing prices everywhere from (3)>>the gas pump to grocery store aisles. Inflation has hit a 30-year high.The most pessimistic respondents were older people and lower-income Americans for whom the rising costs of basic necessities is especially harmful. These are worrisome trends that echo other recent sentiment surveys. They are especially shocking when you consider that the stock market, normally a yardstick of the country’s mood, keeps hitting all-time highs; also, jobs are plentiful. No one wants to work , this is why Joe's economy is SLEEPY .
2. Biden's Poll Numbers .
Here it is . (4)>>Joe Biden's poll numbers are tanking along with Kamala Harris. Biden's approval ratings have been essentially flat the last two weeks and have not risen since the Afghanistan pullout. I would broadly agree with you that Presidents shouldn't care too much about polls but I think in saying that if the winds are not blowing in Biden's favor no one necessarily feels pressured to get on board with his signature policies he's going going to have problems with 2022 .Democratic media outlets, neutral media outlets and republican media outlets are all doing the same damn thing. BEATING the absolute shit out of everything and anything we're trying to get done. It's insane that we would beat down our own people to the point of inaction and then demand action. Yes. I fully and completely blame all media norms for creating this hailstorm of stupidity. Take your media pick and I can get 3 negative articles from democratic media outlets. Doesn't matter. Afghanistan! Foreign relations! Haiti! Debt ceiling! Infrastructure! COVID! EVERYTHING and ANYTHING. Democrats are tearing themselves apart.They need to stop and stop now, before it's way to late.
3. The Tanking Economy .
Right it's no certain that our nation's economy is in a free fall.Although the creation of 943,000 new jobs in July is undoubtedly good news, the Biden administration deserves very little credit for these gains. And even more importantly, (5)>>when put into proper context, the recent jobs figures are, at best, a huge disappointment. We know that The US federal government would have run out of money on October 18, a development financial analysts had warn that it would wipe out millions of jobs, crash the stock market and devastate American economic growth. So far the pass of the infrastructure bill is a band aide patch .America will go bankrupt. It's a case of when not if. There are no measures they seem willing to take to reduce debt and/or increase income to service it, and the longer this situation continues the worse it will get and the greater the impossibility it will be ever be addressed. The Americans have not identified the cause for their continuing deficit (or ignoring it) for the last 10 years and the symptoms are starting to manifest itself. It is convenient to use the blame game (China's fault) to placate the ordinary Americans. Yes, they have succeeded with partisan support and delayed the adverse outcome by makeshift policy of raising the debt ceiling and printing more money. If unchecked, the US$ value would be on par with toilet paper. Producing countries would be indirectly exploited by the US using their worthless money to buy the good and services. (6)>>Hence, the move to drop US$ as the universal currency will not be based on geopolitical reasons but a recognition by other nations that they are being exploited. The world will return to the barter system and the medium used to exchange goods will not be the American $ but a currency agreed among traders.
4. US Sanctions on AMERICAN CITIZENS !. ( Sleepy economy )
While we Americans always hear about economic sanctions against Russia , China and Iran . The sleepy economy now has hit every American hard like a karma bitch fiasco . This recession that is now emerging during the [ Plan] Pandemic cycle seems to me that they resemble economic sanctions that our country has imposed on others . (7)>>YES, KARMA is a bitch .But to anyone paying attention to U.S. foreign policy for the past decade, it has become obvious that the United States relies on one tool above all: economic sanctions. Now what comes around goes around. Blame the two party system here, BUT BLAME the party of the economic blues : The Democrats. NOW THAT Middle America is dying. 10k farms a year go bankrupt and there's little manufacturing compared to the past.. The US has turned away from a manufacturing society to a service society. You become less independent every year. China owns your largest meat processing plant. The real economy could continue to deteriorate for quite some time, but my hope is that this doesn't continue to fuel the market speculation that is rampant as the only way we can fight a weakening economy is 'asset purchases' from the Federal Reserve. Looking very far into the future, I wonder what tools we're going to be left with to fight inevitable recessions decades down the road. We're always so focused on fighting the economic crisis at hand that we shift the bill into the future. This is evident by the decreasing trend in interest rates and increasing desperation in Federal Reserve tactics.The elephant in the room is our political system. Certainly we are headed into disaster.
NOTES AND COMMENTS:
(1)>>the "sleepy" economy is the government . Spiking inflation — underscored by two government reports this week showing the biggest price surges in decades — presents a powerful threat to the economy as it struggles to shake off the pandemic. After the government reported inflation soared at an annual rate of 6.2% last month – well above expectations and more than triple the Federal Reserve Board's preferred target of 2% – Biden was forced to pivot and tout the benefits of the infrastructure plan in battling inflation.But that did not prevent politicians on both sides of the aisle from jumping on the inflation bandwagon, suggesting that Biden's economic policies are actually doing more harm than good. I don’t think anyone is claiming the economy won’t recover. The reps are saying his policy is slowing that down.(1.1)>>another recession . The Recession of 2021 -2024 was Covid driven . The US government was not able to handle 3 , 4th waves of the virus . Even though 90% of the population was vaccinated with three boosters .Biden is facing growing disillusionment among Americans that he can fix the problems brought on by the coronavirus pandemic, even as the virus shows itself to be remarkably resilient nearly two years after it first surfaced in Wuhan, China. Now we "know" that the Covid data is flawed , many "cases" were misdiagnosed . This was adding to the crazy flips within the CDC. But the economy was slow in recovery until inflation was flat around 2025 . After the great Market panic of 2023 . New research suggests the U.S. economy is already in recession. David Blanchflower (Dartmouth College) has been predicting recessions since 2007. In 2007, as a member of the Bank of England, Blanchflower implored policy makers to pay attention to what households and business say about the economy to predict downturns before they happen. A new White House fact sheet warned that the failure to come to an agreement could send ripples through U.S. financial markets and halt billions of dollars in aid for disaster relief efforts, infrastructure and education funding, not to mention the response to the COVID-19 pandemic. (2)>>The American Jobs Plan, his proposed economic recovery act. That could really be said about any infrastructure plan. The government doesn't actually do most of the construction and they don't even do all of the civil engineering in most cases. The road building industry is rife with collusion and price fixing and there is very little the government can do because everything is bid out. We have to take into account that the current jobs numbers is far worse than we are told .Speaking to reporters at the White House, Biden zeroed in on the data point showing that the unemployment rate fell below 5 percent for the first time since the beginning of the pandemic, characterizing it as a sign of “significant improvement” in the time since he took office. He said that, on average, the U.S. economy has added 600,000 jobs on a monthly basis under his watch.The unemployment rate increased from March 2021 to April 2021. That's the first time that's happened since the pandemic began.With millions of jobs unfilled we don't need NEW jobs created, we just need the lazy to start working again.(2.1)>>A wide range of economists agree with the president — but only in part. It's always important to remember that the Fed's (Yellen's the ex-Fed Chair) most used tool is incentivization through psychology.Credible threats, employment forecasting, etc. are all used to influence the market so that they don't actually have to act.I'm sure Yellen and the Fed are all aware of the reality of the economy, but they're trying to sell us a false reality to discourage a drop in economic activity due to perceived/expected future hardship.It's similar to an executive downplaying a company's financial struggles to avoid a mass wave of resignations. They feel they need to lie in order to keep the ship afloat, but we all see past it.Lying and manipulating the public in order to achieve political goals seem to be the hallmarks of this administration.(3)>>the gas pump to grocery store aisles. The price of oil has gone up significantly over the past six months, after crashing last year due to the huge drop in demand because of the pandemic. With the pandemic finally beginning to subside in the US, lots of people are looking to make up for the summer vacations they missed last year. And the most basic rule of economics is that when demand outpaces supply, prices go up. Unlike most members of OPEC, the powerful cartel that has direct influence over oil production, "we don't have a national oil company with spare capacity to bring to market. So whereas, say, the king of Saudi Arabia can just decide to pump more or less oil, the president doesn't have that option.He can, of course, ask the members of OPEC to bring more oil to market — and the Biden administration has done that. The answer was no he don't . I guess it's part of the green agenda to force people out of their gas powered cars . NOW California gas prices hit an average price of $4.676 , setting the highest recorded average price for regular gasoline, according to AAA. America’s largest state by population has the highest gas prices in the country. The national average dropped slightly to $3.413 Sunday. California inflation is also higher than any state in America . Grocery stores are now stacking hidden charges , while goods are not being restocked on purpose . It's AS if the federal government is punishing it's citizens . (4)>>Joe Biden's poll numbers are tanking along with Kamala Harris. Except independents. You know, those who are not political junkies like most who comment here. But people who look around and see how Biden handled Afghanistan, the southern border, inflation, shortages of everything, etc.They look at that and decide they want something and somebody else. 500 K was expected because there are still a LOT of people out of work (lazy...) after COVID and the expectation was that they would get jobs after losing their free Federal $$$. Companies are desparate to get workers but people are still sitting back and playing games all day.BTW, over 700K have died due to COVID on Biden's watch. He's closing in on Trump's 400K and should get there before years end.Suffolk University released a poll that found a startlingly low approval rating for Vice President Kamala Harris: 28 percent. That’s lower even than Vice President Dick Cheney, who was previously known as the least popular vice president in modern American history.Harris has been the subject of repeated controversy in 2021, with many disparaging leaks from inside the Biden administration painting a less-than-flattering picture of the vice president.(5)>>when put into proper context, the recent jobs figures are, at best, a huge disappointment. The Job report was not good . There are still millions out of work . The jobs available now are hourly wage jobs . Not Salary . The "businesses cant find workers" problem is homemade by the businesses. It's not the virus , but the LOCK DOWNS caused massive layoffs last year . Of course no one wants to spend 10 hours a day in your kitchen making food for 6 bucks an hour. Pay livable wages and people will want to work.Also, yanking half a million or so people out of our population with coronavirus last year because businesses were too greedy to close or give their workers proper protection couldn't have helped anything. Biden laid blame for the sluggish growth of U.S. jobs on the “impact of the Delta variant” of the coronavirus. But he also claimed that his American Rescue Plan and vaccination strategy have helped buoy the economy even as the Delta variant has spurred a resurgence in the Covid-19 pandemic.Many economists expected nearly 1 million jobs to be added to the economy. but the total was just 266,000, a significant slowdown in growth.(6)>>Hence, the move to drop US$ as the universal currency will not be based on geopolitical reasons but a recognition by other nations that they are being exploited. The share of US dollar reserves held by central banks fell to 59 percent—its lowest level in 25 years—during the fourth quarter of 2020, according to the IMF’s Currency Composition of Official Foreign Exchange Reserves (COFER) survey. Some analysts say this partly reflects the declining role of the US dollar in the global economy, in the face of competition from other currencies used by central banks for international transactions. If the shifts in central bank reserves are large enough, they can affect currency and bond markets.United States' reliance on economic sanctions to coerce other countries is gradually losing its effectiveness and slowly degrading one of Washington's most influential tools in international affairs, the power of the U.S. dollar. The greenback stands in a class of its own as the most popular and robust currency across the international banking system, out sizing its next largest competitor, the euro, a by a factor of nearly three to one.Already having conducted more than $5 billion in e-renminbi transactions, China has opened its digital currency up to foreigners. Next year, when Beijing hosts the Winter Olympic Games, authorities are expecting to let the world test drive its technological achievement.The U.S., by contrast, is having trouble even concluding its multi-year exploration into the possibility of an e-dollar. In fact, an upcoming Federal Reserve paper on a potential U.S. digital currency won’t take a position on whether the central bank of the United States will, or even should, create one.Looking at the economy from a wider scope and realizing that the US and global economy are in the midst of a massive bubble imploding, there's a strong possibility that this will point to further weakness in economic data points as we move along. (7)>>YES, KARMA is a bitch . It appears that US sanctions have reversed and now are doing more harm to Americans than any other country under US sanctions .According to the president’s Export Council, the United States has imposed more than 40 trade sanctions against about three‐dozen countries since 1993.The council estimates that those sanctions have cost American exporters $15 billion to $19 billion in lost annual sales overseas and caused long‐term damage to U.S. companies–lost market share and reputations abroad as unreliable suppliers.Trade sanctions seldom work because of the competitive global marketplace and the nature of regimes most likely to arouse America’s ire. Although the United States is by far the world’s largest economy, its global economic leverage is limited. The United States accounts for only 13 percent of the world’s merchandise exports and 16 percent of its imports. If Washington seeks to punish another country by unilaterally withholding exports, such as farm products, computers, or oil‐drilling services, other global suppliers stand ready to fill the gap. Right now we have a supply chain problem here in the US as what you would expect in another country facing US sanctions on their economy . For , what is going on right now its too much of a coincidence ?
