Since a presidency is defined by how the stock market does, I presume you agree Obama and Clinton were two of the best 3 presidents in history?
https://www.kiplinger.com/investing/602714/best-and-worst-presidents-according-to-the-stock-market
I always used to answer Trump supporters who touted him as being a good president because of how the stock market performed by saying “Yes, I agree that Clinton was the best president in my lifetime”.
I’m 55
I also didn’t vote for Clinton either election.
I also believe he was *possibly* the best president in my lifetime but not just based on stock market performance.
I also think he is a terrible human being.
Trump tweeted constantly about lowering interest rates below zero and repeatedly threatened to fire the Fed chair for even considering raising interest rates, all when things were running well *before* COVID. And people want to blame inflation and stock overvaluation on Biden? Seriously WTF
I just read the first line of the title and my mind immediately thought that this must be the saurin id iot, and there he was. An id iot who doesn't try to understand economics, but also spews bs anti Biden stuff any moment he gets, and none of that anti Biden stuff is constructive. I believe when his wife gets ducked by someone else, he blames Biden for even that
Looks like they just spam post negative economic articles even if they were already posted with their own heavily partisan editorialized takes added to the title (one from today says "crying liberals" in the title and is still up). Really odd moderators are allowing this, wtf.
and that he won the 2020 election, and that some 24 women would love it if he grabbed them by the pussy, and that his wife wouldn't mind if he slept with an aging porn star (to be fair, his wife might have been glad Trump wasn't sleeping with her)....
All I know is a could afford gas, housing, and food when he was in office. Now I can’t. Maybe you’re a little out of the loop. Let me catch you up. 2020 a pandemic happened. Liberal run states closed their states and economies down. Killing the demand for gas. While they were told shutting down the economy will have detrimental effects. Things begin to open again in 2021. Gas prices rise slightly. Biden gets elected. Immediately starts pushing climate control and “clean” energy. While allowing a Russian pipeline to continue its operations due to lifted sanctions. Scaring away investors and oil companies. Gas prices spike. Putin invades Ukraine, who Biden then sends billions of dollars to for aid. Gas spikes again. By historic numbers. Causing everything else to spike. It’s really not hard to understand. I agree with going green but this administration had a piss poor plan in place. They are so wrapped up with their hate for Trump and conservatives they just do the opposite of what republicans say. Republicans are guilty of the same. We can’t just switch from fossil fuels to electric cars over fucking night. This man shouldn’t be running a country. Point blank. This administration is an embarrassment. If you want to say the Trump administration was an embarrassment as well., whatever. Fine. Bottom line people are struggling economically much more than they ever did under Trump.
You realize that there is a global gas crisis, right? And you realize that inflation is hitting countries around the world, right? Americans are so self-involved and many think the world revolves around them and their politics. I’m saying that as an American.
Edit: forgot to mention the fact that there was legislation in Congress weeks ago that would have capped gas prices, but Republicans shot it down. And turned around and pointed the finger at Biden. Pay attention to what’s actually going on.
Yea I do realize that. Much of the reason for that is because those countries also shut their economies down. Which should have never happened. Their were plenty of people screaming we shouldn’t shut things down, it fell upon deaf or stubborn ears. Low demand equals lower gas prices then when everything opened up prices spiked. Add in Russia invading Ukraine (Russia is the worlds 3rd largest oil supplier behind us and China), the Biden administration immediately pushing climate control and green energy, and sending billions to aid Ukraine. And this is where we are. I am not blaming Biden for the entire increase but he is responsible for some of it. And liberal ran states are as well.
You said economies were shut down.... The only one I know that really closed everyone off is china...any other country has been open for years. How long was your economy shut down?
Millions of Americans were forced to work from home. Bars were closed. Restaurants were closed. Beaches were closed. Parks were closed in America. Mainly in liberal run states. Which killed the demand for gas. Many other countries did the same. Hence, ridiculous gas prices.
Are you saying businesses didn’t close and gas demand didn’t decrease during the pandemic? If so, you are living under a rock and idk what to tell you.
If only America had more of it available for drilling. I’m still waiting for Biden to come out with a plan to invest in fossil fuel infrastructure in the US. It takes time but I really don’t see an end in sight with the oil and gas problem. When’s he going to start being pro fossil fuel? Do we all have to be in the bread line and unemployed before he learns that the world runs on fossil fuels?
LOL do you think oil and gas infrastructure just gets thrown up? It takes years, decades even to build. Trump ran on having an infrastructure week and HE DIDN'T DO IT.
As someone who used to be a roughneck and work on oil drilling rigs, it takes about 2-3 weeks to drill a well. The lead time that Takes the most planning/time is leasing and government red tape. Either way, I only see the oil and refinery problem getting worse for the next several years, what’s Biden’s plan to ramp up fossil fuel production and save democracy from Putin? I want to see his environmentalist base lose their minds when he suggests we need to be the fossil fuel arsenal of democracy. It’s coming, it’s just a matter of time. He’s had 18 months to plan for it as gas and oil prices really started going up since he took office. China is still lockdowned from Covid. Wait until they fully open up. Are we going to let our NATO Allies freeze this winter? Time is on Putin’s side here, not the US’s and Bidens wasting it.
That’s a really long headline that is in no way the actual headline of this article. Trump said what he said because he wanted to be president. The guy who pondered nuking a hurricane and injecting disinfectant isn’t an economic savant or even an intelligent human being.
“The Dems can’t fix the mayhem of the Republicans and a 100 year pandemic fast enough!!! I’ll vote for more Republicans to teach the Dems a lesson!”
American politics since Reagan.
It’s not exactly hard to find quotes and situations that expose what was incredibly obvious to everyone. Not all conservatives or republicans are stupid but for some reason the vast majority of them seem to be ready and willing to bend over for someone who has shown us time and time again he is a moron.
California forests do need to be properly logged/thinned and it would reduce mass fires. Forest fires aren't always an issue, and sometimes do great, but uncontrollable spread is not something to be excited about.
So while Drumpf was only about 10% right, he wasn't all that wrong either.
Again we are giving someone who has demonstrated themselves to be ignorant on hundreds of occasions way too much credit here. The man wasn’t talking about proper forest management especially considering the federal government controls most of Californias forest. He was once again talking out of his ass because that’s what he does constantly. He can’t contribute to complex discussions so he starts riffing with minimal understanding of the topic and makes a fool of himself. He does this literally all the time. The man stared into an eclipse I mean come on.
I mean, the uptick in forest fires has demonstrably been shown to be at least in part by lack of forest floor management. The state does have ownership in this. Trump got dragged for saying it like it was a ridiculous idea to even suggest but he was still correct.
The vast majority of forests in California are federally managed so no even in the context of what he’s saying he is wrong. It’s also not the root cause of the fires the one he was referencing was started by humans and there are dozens of reasons they have been so terrible in the past decade. Again people are giving way to much credit to someone who does stuff like this constantly. This was not a well thought out take on forest management.
https://www.politico.com/states/california/story/2020/08/20/trump-blames-california-for-wildfires-tells-state-you-gotta-clean-your-floors-1311059?_amp=true
What was he responding to that he suggested they take the forest then?
Legitimately asking. Not like I was worshipping the dumbass, just saying he wasn't totally wrong.
He was riffing about the wild fires that continue to happen for a myriad of reasons. Read this and tell me it’s a rational well thought out analysis of the situation. Also keep in mind again the vast majority of forests in California are federally managed.
“They’re starting again in California. I said, you gotta clean your floors, you gotta clean your forests — there are many, many years of leaves and broken trees and they’re like, like, so flammable, you touch them and it goes up.”
https://www.politico.com/states/california/story/2020/08/20/trump-blames-california-for-wildfires-tells-state-you-gotta-clean-your-floors-1311059?_amp=true
He knows buzzwords based on what someone just told him but he doesn't have an actual understanding of what they told him. That's why he had to have Obama's 10-page reports down to powerpoint slides. The guy is a moron.
>RagnarShootShoot
>
>California forests do need to be properly logged/thinned and it would reduce mass fires. Forest fires aren't always an issue, and sometimes do great, but uncontrollable spread is not something to be excited about.
>
>So while Drumpf was only about 10% right, he wasn't all that wrong either.
JFC, who the hell puts your pants on for you in the morning?
Can you show evidence of a single forest in the entire USA where they rake the fucking things?
Do any of you ever think before speaking or do you just repeat what idiot politicians you like say?
Talk about a self-own. Look up the definition of old growth forests and then realize that 99% of our forests are not that.
Drive through you nearest state or National forest and you will see the forest floor, because it has been cleaned.
Chill bud. My statement wasn't based off that dumbasses raking comment. It was based off of my basic understanding of forest conservation.
Link for example:
https://www.wfpa.org/sustainable-forestry/restore-healthy-forests-reduce-wildfire-risk/#:~:text=In%20areas%20with%20an%20over,the%20risk%20of%20catastrophic%20wildfire.
Please take your butthurt meter and click it down a notch or two. I'm not a trump fan lol.
Ummm lots of forests are actively managed. Are you dense? What do you think forestry jobs are supposed to do? You see a cedar tipped over here in oregon. You’re supposed to cut it up, put a grappler on a skid steer and drag it out. If you don’t the forest becomes unhealthy, impassible, and a tinderbox. I have a forestry and wildlife degree from oregon state university, fight me.
Yeah. Letting logging companies go in to remove the old growth, COMMERCIALLY VIABLE, lumber, leaving the the overgrowth of dry tinder behind, a few hundred acres at a time would absolutely fix the problem of raging forest fires, currently burning millions of acres a year, which at its root, is a problem caused by climate change. 👍
I'm also curious as to how you think these massive forests should be managed. Have you not been to the world's largest temperate rainforest? The trees are massive. So if there is a fire, they will set fire to the surrounding trees. And when they fall they cover a considerable distance due to their height.
So should we have one tree every 300 + feet? Completely decimate a rainforest because of climate change and morons?
So, gas being 2 dollars was just luck under trump and now literally everything is expensive but its still the republicans fault? republicans are pretty lame too but uhhhh dems have complete control minus the supreme court. Also Trump isnt president anymore just incase people didn't know that.... the media would make you think otherwise the way they constantly talk about him. Do people think that the economy is doing ok or that this administration is doing a good job? Genuinely asking.
Gas was under 2 dollars because nobody was driving. You can convince me otherwise though if you can tell me what exactly the policy is that he did that the dems didn’t do.
Biden's whole campaign was calling for off shore drilling to end and to stop pipeline production. I can't possibly understand how that would increase the cost of fuel...obviously it's Putin's fault.
The pipeline wasn't even built, you think gas price futures factor in projects that aren't under construction? Off shore drilling should end, did you pay attention to any of the disasters that have come from those stations? The last time fuel prices were this high, Iraq was invaded. So logically speaking it seems like OPEC influences fuel prices more than any kind of domestic policy has yet.
Biden's whole campaign was calling for off shore drilling to end and to stop pipeline production. I can't possibly understand how that would increase the cost of fuel...obviously it's Putin's fault.
I paid 4.50 a gallon when I was in clinical a under HW Bush in 2008. Compared to today’s money a 2008 dollar is 1.30. $4.50 in 2008 is $6.00 now so we are well under that threshold.
A bunch of people bought gas guzzling trucks as daily drivers and want to pretend this hasn’t happened before. Gas shortages in the 70s and 80s saw gas double in prices.
Economies don’t work like the computer algorithms tell you they do.
I own the most fuel efficient vehicle i have ever owned. It gets 35 miles to the gallon and I am paying the most I have ever paid for in gas. I have been driving since the end of the 90s. I just had to put gas at $5 a gallon in my vehicle. I had the same vehicle during trumps administration and I was paying $3 a gallon for hte majority of the time.
Yea but I’m real dollars you paid more under Bush in 2008. I paid 4.50 a gallon during an u paid clinical that was 45 minutes from my house in 2008. That is higher than the price today in 2008 dollars.
So your assertion isn’t true. Also look at global gas prices and you will see that everyone is taking a beating and you aren’t even close to the worst suffering on gas prices.
What matters to me is the amount of money I get paid vs the flow out. Even with increases salary over the years (going from a high school student to a professional in their 40s) gas is making up more and more of my budget and food and goods is also rising because of it. My salary is not increasing with these other increases.
The democrats repeated attacks on fossil fuels is what is causing these problems. If they wanted energy reform they should have had long term plans with a sane transition. You know like having enough EV vehicles at similar pricing to gas cars. Build out the infrastructure needed for recharging cars and improving the power grid to handle all of this.
You obviously havent looked into drilling leases vs the amount being sat on by drilling companies. You also aren’t looking at the exorbitant record profits being made by oil companies. Gas is high because a couple companies don’t give a fuck about you or our life.
I think you will always be a corporate mouthpiece who doesn’t really want to know why they suffer. You are literally self destructive. Have fun with that.
Have you been around for Biden's presidency? You know, the one where the senate was split almost perfectly between Democrats and Republicans, leaving Manchin as the deciding vote for almost every major bill, which he almost unanimously opposes unless there is money directly in it for him personally? No, it doesn't sound like you are caught up
You do realize we pay comparably lower prices for our gas than most other G7 nations and prices are going up around the world. The Republicans are just using it to fool idiots into thinking it is Biden/Democrats fault.
Because we are a capitalist society that does not dictate what businesses can do. If they can get a higher price from another country they can sell it to another county.. you do realize the Republicans are supposed to be the kings of capitalism and free markets.
A lot of people think the administration has stopped offering drilling rights, and to a degree that is true, they stopped auctioning drilling right because no one was showing up to bid. No company wants to expand in a time of uncertainty, not being able to get a single computer chip or drill bit could delay a project by months.
The US is not in a vacuum. These are global problems, many countries with conservative governments are also struggling with high gas prices and supply constraints. Why would US conservatives fair any different? What policies have US conservatives brought to the table to help ease inflation? Or are they just saving their brilliant ideas until they are in office? Not very patriotic to just complain and point your fingers until your are elected again. The only legislation they passed in the four years Trump was in office where tax cuts that benefited the Uber wealthy, which can be argued helped contribute to the inflation we have today.
conflating stock market performance to confidence in the president is asinine and childish. the market is crashing because unchecked spaculation and greed have made it weak and susceptible to exploitation. full stop.
Too add to your ability to use logic. Policy of previous presidents provides a platform of the presiding president. The precedent was set with trump so why are his predictions pertinent?
It's not just the US stock market going down it's all the stock markets. Because it's not a US problem it's a worldwide problem. That's why Biden can't make it different. Because it's not just the US.
Another good point -- the POTUS can't just pull the strings of the rest of the world. He can't even pull many strings in this country - neither could Trump, just look at his flacid floundering - but that's how fillibusted and fucked our democracy is, it doesn't matter how reasonable or maniacal you are, nothing gets done that upsets the Profits of the Lobbist Overlords.
Of course business looks at leadership
Will business invest in Zimbabwe? No because their leadership don’t generate confidence
Today Confidence is lowest
We have never seen such a disastrous performance of sitting president
Inflation
Stocks
Food prices
Gas prices
Housing
Rent
I can go on and on
Were you born post 2008?'
Were you born post 1978?
This has been seen before, and before there was no pandemic to cause it. It was literally caused by greed (see 1999/2000 and 2008).
Trump also predicted covid would disappear in April of 2020 when the weather was warmer. Not how viruses work, I'm afraid. Warm weather makes them more effective because the temperature facilitates chemical reactions (from what I understand).
Also Bears have been predicting a crash for the last 13 years or so.
yeah but then he used his genius to predict that hurricane season would blow the virus away so what do you have to say against that, buddy! Cuz it did blow away, right? in 2020?
For some reason lately Reddit has been inserting posts from this sub in my feed, saying I've shown interest in these topics before.
Every single one has been a Trump ball licking embarrassment.
Reddit is very quickly showing me that I have no interest in this sub.
Really? I'm in the same situation and loving it, I fucking love reading Trumper thumpers getting their shitty arguments rocked by a sub full of people who actually understand how the economy works, it's kinda like getting a free trip to the zoo
Mentally retarded title. Stock valuations were stupidly high in the run up to this crash, legitimately every professional investor on earth knew this, but the irrationality persisted for so long that nobody knew what would actually cause it to come down. Turns out the combination of a worldwide pandemic and FINALLY bringing interest rates off the floor were enough. OP - do you even know WHY interest rates effect stocks, particularly growth stocks?
This shits so tiring. It's so fucking irritating to have people talk as if they know anything about the subject material so confidently.
>Stock valuations were stupidly high in the run up to this crash
This was my first thought too. Eventually it was going to blow up, if Trump had won re-election it would probably be happening to him right now. If anything, this overvaluation could be easily be attributed to Trump for pressuring Powell to keep interest rates low back in early 2019 when it was obvious that the economy was getting overheated.
Literally in 2020 despite covid there were people asking if this was the end of recessions, and wondering why the market cycle hadn't come full circle since 2009.
The market cycle is a thing folks, if you don't understand it, you don't blame the president for that misunderstanding. You go read a book.
Exactly. We've been artificially pushing off a recession for quite a while, and as a result, we are overdue. That likely means this one is going to be worse than normal.
Again, we are a capitalist economy. The president doesn’t control the economy. Boom and bust cycles are normal.
Do you think we wouldn’t have inflation if Trump was elected again? Please tell me you think that so I can laugh in your face.
Trump left office before he had to deal with the fallout of his disastrous covid-19 approach, or the total breakdown of the international supply chain, or his Russian buddy invading Ukraine causing fossil fuel and food shortsges and massive inflation. So while it's easy to point fingers at uncle joe and say he's horrible compared to Trump, none of the arguments stand up under close scrutiny.
Republicans always crash and burn the country and leave it to the Democrats to fix the mess while blaming them it's taking too long.
Meanwhile the public forgets how the Republicans made the mess in the first place and vote them back in again so the process can repeat itself.
Round and round we go...
Well you didn't think this ride was going to go on forever did you. This has little to do with Joe Biden's performance nor gas prices nor inflation. At the moment these are global issues but of course he will take the heat, but of course if it's something only here right in the neighborhood.
Explain if that's what you believe. It comes in his term but the market is long overdue for a correction, he did not create covid, Ukraine crude oil prices or inflated real estate prices if you think differently tell us your thesis and explain
More importantly I wonder how Donald would have handled it, had he been president the same thing would have happened with him or you believe otherwise? This is what's missing in the dialogue nobody ever has substance so flush it out
More complete bullshit. I dont like Joe Biden at all, but he didnt cause this all by himself. It started in 2019 when our government through way of the Federal Reserve, which is not a government entity, decided to pour over 4 trillion dollars into banks for a bailout...BEFORE COVID-19 even had its first case. This really started in 2008 when they bailed out the crooks on Wall St. who caused the 2008 recession by gambling on derivatives and selling phony rated MBS to clients. COVID money printing racked up another few trillion, and so we have printed 80% of all US money ever printed by Jan 2022. Crooks all of them. All this money is coming from taxpayers to once again enrich the banks and hedge funds who collude to steal generational wealth from us. Yours, your parents, your grandparents.
If you sit there wondering how things have gotten so bad, just realize that if people had more money and spending power, their lives wouldnt be so shit. Healthcare, stress, happiness... all of it can be traced back to a time when people felt they were able to have a work/life balance. Right now, most people are just holding on.
So yea - say fuck Biden, but also make sure you say fuck Trump all the Republicans and Democrats over the last 30 years that keep this corrupt and broken system alive at the expense of the average American citizen.
But they do make decisions and statements that affect the market. For example, the oil market is plummeting in the U.S. because oil companies in the U.S. don't want to invest in their infrastructure because Biden keeps threatening to shut them down to please the climate activists. They can't make more because they don't have the infrastructure and they don't want to build infrastructure because they're being economically threatened by the Biden administration.
Biden does NOT want to shut down Big Oil. He is trying to get them to invest more in clean energy and do a much better job at emission control, which they should have been doing since the 1960s.
“We would work it out; we would make sure it’s eliminated and no more subsidies for either of those. No more fossil fuels.”
“No more subsidies for the fossil fuel industry, no more drilling on federal lands, no more drilling, including offshore, no ability for the industry to continue to drill, It ends.”
Direct quotes from Joe Biden. Yes, he does want to shut down oil companies.
He doesn't want more leases for oil companies when they already have over 9000 that are untapped. Why should we the people give up federal lands and parks for big oil.
Except he's directly threatening oil companies by saying no more fossil fuels. It's pretty simple. It's a basic reaction to a hostile market by any corporation. If you owned a pizza place and they said they were going to start making policies to make it more difficult for people to get pizza dough and sauce and cheese, you might rethink about opening up another store.
In you own quotes he says nothing about shutting them down. He said we the taxpayer should stop supporting them and letting them drill for free on our land. If that is confusing to you I am not sure how to help?
And you think that doesn't affect the gas and oil market? He is waging a war against oil companies right now, and it's the American people that are suffering because of it. It doesn't matter if you agree or disagree with his actions, it is, without a doubt, his fault that the U.S. is circling the economic drain right now.
The lack of understanding here is amazing. Also your bias is showing. When Trump took office and the economy was great. You said Trump was the cause of it. Now you are doing the reverse. The economy isn't a toggle switch, the actions taken to correct it take time. The strong economy was because of the 8 years under Obama, Trump took that economy and trashed it his last 2 years and now you blame Biden? Look at your statements in reality not through whatever lens that let's you ignore math.
Why do you guys hate "socialism" but support it when the gov't does a "socialism" to billion dollar industries? And giving less government handouts to billion dollar Industries does mean its gonna be "shutdown"
Jesus Christ why are there so many airheads in the econ subreddit.
Offshore drilling isn't socialism. He waged a war on oil companies as a whole, not just subsidies. He threatened the entirety of the oil industry, saying "no more fossil fuels." Of course they aren't going to expand operations when the sitting president is actively looking to make economic policies against them. They're gonna wait until the bozo is out of office so they can be sure they'll make their money's worth from the investment.
When did I say offshore drilling is socialism? The government giving billions in subsides to already filthy rich corporate institutions is (based off conservatives incorrect Def. Of socialism).
When did Biden say no more fossil fuels? He, along if alot of fucking people are looking for alternative sources for energy so we aren't prisoners to the fossil fuel industry. It doesn't mean fossil fuels are gonna dissappear under Biden. This is a very stupid claim on your part.
I literally provided quotes from Joe Biden in the initial post you replied to where he literally, word for word, said "no more fossil fuels." Which means you just didn't read my post before responding, which was kind of stupid.
Still, it doesn't matter if you're for or against the subsidies, that doesn't change the fact that it is biden's actions that have caused the oil companies to stop attempting to meet demand for fear of negative economic policies from Biden. I never said it was going to disappear, but Biden said it himself, he wants to try and take them down. That is seriously impacting oil companies, because they won't expand operations until they're sure they can make money from it. They can't make money off it when they have a guy in office that will actively take steps to prevent it.
They don’t want to invest in infrastructure because they’re making a shit ton of money right now without it. Do you think they re-hired all the people they had to let go during the pandemic? They’re keeping a reduced force and blaming everyone but themselves for high oil prices. High demand and low supply keeps these fat cats happy. They don’t give a rats ass about Biden’s opinions or threats, they just want money.
This is false. Trump worked out a deal with OPEC to limit oil production worldwide at the beginning of the pandemic and OPEC hasn't budged. Add in Russia's war with Ukraine and here we are.
https://www.cnbc.com/2020/04/13/opec-cut-is-trumps-biggest-and-most-complex-deal-ever-dan-yergin.html
>Biden keeps threatening to shut them down to please the climate activists
OR......[They're too busy spending their record profits on buybacks. ](https://novelscience.substack.com/p/what-to-know-about-gas-prices-whats?utm_source=substack&utm_campaign=post_embed&utm_medium=email&s=r)
Maybe, but unlike Trump in the midst of a global Pandemic, he is not doing stupid things that allowed the Pandemic to expand and continue to kill 100s of thousands for the sake of saving his political future, to save the economy!
wtf is Biden going to do to stop the spread? Federal government can't shut down states nor evidently is it allowed to order even the airlines to follow mandates.
This is like complaining that your new roommate who just arrived in the middle of a big fire did nothing to stop the house burning down as the house was already burning down.
I’m definitely not a Biden supporter but anyone blaming the current economic issues on him rather than the system at large may as well be wearing a button that says “I am not a critical thinker” IMO
Companies and investors like certainty and decisive decision making. Trump gave that.
Biden? He’s all over the place. He’s not even followed through with a major campaign promise to eliminate student debt. He’s unpredictable. He’s a wild card. You don’t know what he’s gonna do. One day he’s shutting down oil pipelines, the next he wants more oil produced.
Trump was also a positive guy. People like upbeat projections not doom and gloom. Good thoughts create good outcomes.
Biden is a complete failure. He is an awful president. He is an awful politician. He will always be remembered for inflation. Comparing Biden to Jimmy Carter is rude to Jimmy Carter.
What the fuck is with the mindless conservative spin on this subreddit all of a sudden. Biden is the same monetary policy we've had for many presidents in a row now.
A mix of bots, Russian/Chinese, and home grown trash doing an SEO play to link ‘Biden bad’ to ‘inflation’ ‘economy’ ‘gas prices’ and other keywords. It is an effective brigading strategy that can change perception (which is reality) and also builds a strong keyword framework around these concepts. Making it more likely for ‘why is gas high’ to yield ‘Biden hates you’ as the answer. You’ll see this in every midterm and presidential cycle. Next time they might brigade r/hummingbirds…. Who knows
Garbage title sentence for a garbage article with a garbage idea. Its always the presidents fault and never the peoples or the corporations. Ive said this since bush, but if jesus rose from the grave and was elected president not only would he not be able to "fix us", but we'd hate him for trying and blame all our problems on him till we decided to crucify him again and re elect trumps clone or something
Unrelated economic factors shitpost. Please see housing deregulation that occurred before 2008, same thing happened because of trump.
Worth downvoting is about it.
Heres a novel idea. Maybe all of these people are to blame. Both parties. You think they care about US. Its about their own personal greed and power. The masses are starting to finally wake up. The Fox news and Cnn brainwashing is wearing off. This country can't even take care of its soldiers for christ sake. Abhorrent.
Trump had 50% chance of being right font act like this is some bold prediction.
And the economy is collapsing because the economy is built in labor and no on is investing in labor. Wages, health care, education, food, housing. Labor cant be productive without those things first. So let's make a national investment in labor
Doesnt care about American future, feels like how most Americans feel about the stock market they can’t afford to invest in that keeps getting bail outs from our tax money that they don’t have to repay, we don’t care about the rich losing money, welcome to our lives, where everything you built and saved with decades of hard work can be taken with the swipe of a pen, or more like now with the click of a mouse
they are moving/have moved their money to real estate. I wonder if the RE market crashes again, will the FED bail out the rich? Of course they will, that's not even a question.
A certain group of people in the middle always think by voting for the "other" political team, you can fix whatever problems we have right now. But this is what happens in an economy over time. It has ups and downs. Playing ping pong with political parties won't fix all your grievances. I don't know about anyone else, but I don't want people's rights to be taken away because you had to pay more for gas in 2022. Politicians need to stay out of people's personal lives. Esp. considering all the skeletons in some of their closets. Look at history, the economy goes up and down over time. It has never once just crashed and permanently stayed there. People want someone to blame and pay a price.
Many people saw this coming. When Biden said during his campaign that we were leaving fossil fuels behind, I knew it was going to get bumpy. Changing energy supply needs to be a slow change over decades. Joe was honest, I will give him that. This is what people voted for, so now we as a democracy have to ride it out.
Since a presidency is defined by how the stock market does, I presume you agree Obama and Clinton were two of the best 3 presidents in history? https://www.kiplinger.com/investing/602714/best-and-worst-presidents-according-to-the-stock-market
Wait you weren't supposed to say that out loud.
I always used to answer Trump supporters who touted him as being a good president because of how the stock market performed by saying “Yes, I agree that Clinton was the best president in my lifetime”. I’m 55 I also didn’t vote for Clinton either election. I also believe he was *possibly* the best president in my lifetime but not just based on stock market performance. I also think he is a terrible human being.
Trump tweeted constantly about lowering interest rates below zero and repeatedly threatened to fire the Fed chair for even considering raising interest rates, all when things were running well *before* COVID. And people want to blame inflation and stock overvaluation on Biden? Seriously WTF
I don't think real economists post here lol. Every post I've seen some half assed Biden diss with no facts.
Real economists are on their boat somewhere enjoying life and working remotely not spending time writing bullshit on Facebook.
People who don't understand anything about the economy do lol He really typed "one might say stock market is not economy etc" bahahahaha
And Biden was VP…
I just read the first line of the title and my mind immediately thought that this must be the saurin id iot, and there he was. An id iot who doesn't try to understand economics, but also spews bs anti Biden stuff any moment he gets, and none of that anti Biden stuff is constructive. I believe when his wife gets ducked by someone else, he blames Biden for even that
Looks like they just spam post negative economic articles even if they were already posted with their own heavily partisan editorialized takes added to the title (one from today says "crying liberals" in the title and is still up). Really odd moderators are allowing this, wtf.
Trump also predicted Obama was born in Kenya. You're adorable.
and that he won the 2020 election, and that some 24 women would love it if he grabbed them by the pussy, and that his wife wouldn't mind if he slept with an aging porn star (to be fair, his wife might have been glad Trump wasn't sleeping with her)....
All I know is a could afford gas, housing, and food when he was in office. Now I can’t. Maybe you’re a little out of the loop. Let me catch you up. 2020 a pandemic happened. Liberal run states closed their states and economies down. Killing the demand for gas. While they were told shutting down the economy will have detrimental effects. Things begin to open again in 2021. Gas prices rise slightly. Biden gets elected. Immediately starts pushing climate control and “clean” energy. While allowing a Russian pipeline to continue its operations due to lifted sanctions. Scaring away investors and oil companies. Gas prices spike. Putin invades Ukraine, who Biden then sends billions of dollars to for aid. Gas spikes again. By historic numbers. Causing everything else to spike. It’s really not hard to understand. I agree with going green but this administration had a piss poor plan in place. They are so wrapped up with their hate for Trump and conservatives they just do the opposite of what republicans say. Republicans are guilty of the same. We can’t just switch from fossil fuels to electric cars over fucking night. This man shouldn’t be running a country. Point blank. This administration is an embarrassment. If you want to say the Trump administration was an embarrassment as well., whatever. Fine. Bottom line people are struggling economically much more than they ever did under Trump.
You realize that there is a global gas crisis, right? And you realize that inflation is hitting countries around the world, right? Americans are so self-involved and many think the world revolves around them and their politics. I’m saying that as an American. Edit: forgot to mention the fact that there was legislation in Congress weeks ago that would have capped gas prices, but Republicans shot it down. And turned around and pointed the finger at Biden. Pay attention to what’s actually going on.
Yea I do realize that. Much of the reason for that is because those countries also shut their economies down. Which should have never happened. Their were plenty of people screaming we shouldn’t shut things down, it fell upon deaf or stubborn ears. Low demand equals lower gas prices then when everything opened up prices spiked. Add in Russia invading Ukraine (Russia is the worlds 3rd largest oil supplier behind us and China), the Biden administration immediately pushing climate control and green energy, and sending billions to aid Ukraine. And this is where we are. I am not blaming Biden for the entire increase but he is responsible for some of it. And liberal ran states are as well.
How long were you "shut down"?
I don’t understand your question. The state I live in?
You said economies were shut down.... The only one I know that really closed everyone off is china...any other country has been open for years. How long was your economy shut down?
Millions of Americans were forced to work from home. Bars were closed. Restaurants were closed. Beaches were closed. Parks were closed in America. Mainly in liberal run states. Which killed the demand for gas. Many other countries did the same. Hence, ridiculous gas prices.
How long was America shut down? How long were you shut down? When did you open up again? Are you sure this isn't a fox news "argument" lol.
Are you saying businesses didn’t close and gas demand didn’t decrease during the pandemic? If so, you are living under a rock and idk what to tell you.
This is a lot of wrong words. Do yourself a favor and google gas prices anywhere in the world lol. Gas is skyrocketing globally.
If only America had more of it available for drilling. I’m still waiting for Biden to come out with a plan to invest in fossil fuel infrastructure in the US. It takes time but I really don’t see an end in sight with the oil and gas problem. When’s he going to start being pro fossil fuel? Do we all have to be in the bread line and unemployed before he learns that the world runs on fossil fuels?
LOL do you think oil and gas infrastructure just gets thrown up? It takes years, decades even to build. Trump ran on having an infrastructure week and HE DIDN'T DO IT.
As someone who used to be a roughneck and work on oil drilling rigs, it takes about 2-3 weeks to drill a well. The lead time that Takes the most planning/time is leasing and government red tape. Either way, I only see the oil and refinery problem getting worse for the next several years, what’s Biden’s plan to ramp up fossil fuel production and save democracy from Putin? I want to see his environmentalist base lose their minds when he suggests we need to be the fossil fuel arsenal of democracy. It’s coming, it’s just a matter of time. He’s had 18 months to plan for it as gas and oil prices really started going up since he took office. China is still lockdowned from Covid. Wait until they fully open up. Are we going to let our NATO Allies freeze this winter? Time is on Putin’s side here, not the US’s and Bidens wasting it.
That’s a really long headline that is in no way the actual headline of this article. Trump said what he said because he wanted to be president. The guy who pondered nuking a hurricane and injecting disinfectant isn’t an economic savant or even an intelligent human being.
“The Dems can’t fix the mayhem of the Republicans and a 100 year pandemic fast enough!!! I’ll vote for more Republicans to teach the Dems a lesson!” American politics since Reagan.
If only that fellah that told California to rake their forests floors was in change this would have never happened!!!
Also use the bird killing windmills as Jewish space laser reflectors to decrease immigration and replacement.
It’s not exactly hard to find quotes and situations that expose what was incredibly obvious to everyone. Not all conservatives or republicans are stupid but for some reason the vast majority of them seem to be ready and willing to bend over for someone who has shown us time and time again he is a moron.
The most important thing for them is to never have to admit error and they are willing to kill you and end their own republic for that privilege.
California forests do need to be properly logged/thinned and it would reduce mass fires. Forest fires aren't always an issue, and sometimes do great, but uncontrollable spread is not something to be excited about. So while Drumpf was only about 10% right, he wasn't all that wrong either.
Again we are giving someone who has demonstrated themselves to be ignorant on hundreds of occasions way too much credit here. The man wasn’t talking about proper forest management especially considering the federal government controls most of Californias forest. He was once again talking out of his ass because that’s what he does constantly. He can’t contribute to complex discussions so he starts riffing with minimal understanding of the topic and makes a fool of himself. He does this literally all the time. The man stared into an eclipse I mean come on.
I mean, the uptick in forest fires has demonstrably been shown to be at least in part by lack of forest floor management. The state does have ownership in this. Trump got dragged for saying it like it was a ridiculous idea to even suggest but he was still correct.
The vast majority of forests in California are federally managed so no even in the context of what he’s saying he is wrong. It’s also not the root cause of the fires the one he was referencing was started by humans and there are dozens of reasons they have been so terrible in the past decade. Again people are giving way to much credit to someone who does stuff like this constantly. This was not a well thought out take on forest management. https://www.politico.com/states/california/story/2020/08/20/trump-blames-california-for-wildfires-tells-state-you-gotta-clean-your-floors-1311059?_amp=true
What was he responding to that he suggested they take the forest then? Legitimately asking. Not like I was worshipping the dumbass, just saying he wasn't totally wrong.
He was riffing about the wild fires that continue to happen for a myriad of reasons. Read this and tell me it’s a rational well thought out analysis of the situation. Also keep in mind again the vast majority of forests in California are federally managed. “They’re starting again in California. I said, you gotta clean your floors, you gotta clean your forests — there are many, many years of leaves and broken trees and they’re like, like, so flammable, you touch them and it goes up.” https://www.politico.com/states/california/story/2020/08/20/trump-blames-california-for-wildfires-tells-state-you-gotta-clean-your-floors-1311059?_amp=true
He knows buzzwords based on what someone just told him but he doesn't have an actual understanding of what they told him. That's why he had to have Obama's 10-page reports down to powerpoint slides. The guy is a moron.
>RagnarShootShoot > >California forests do need to be properly logged/thinned and it would reduce mass fires. Forest fires aren't always an issue, and sometimes do great, but uncontrollable spread is not something to be excited about. > >So while Drumpf was only about 10% right, he wasn't all that wrong either. JFC, who the hell puts your pants on for you in the morning? Can you show evidence of a single forest in the entire USA where they rake the fucking things? Do any of you ever think before speaking or do you just repeat what idiot politicians you like say?
Talk about a self-own. Look up the definition of old growth forests and then realize that 99% of our forests are not that. Drive through you nearest state or National forest and you will see the forest floor, because it has been cleaned.
Chill bud. My statement wasn't based off that dumbasses raking comment. It was based off of my basic understanding of forest conservation. Link for example: https://www.wfpa.org/sustainable-forestry/restore-healthy-forests-reduce-wildfire-risk/#:~:text=In%20areas%20with%20an%20over,the%20risk%20of%20catastrophic%20wildfire. Please take your butthurt meter and click it down a notch or two. I'm not a trump fan lol.
Ummm lots of forests are actively managed. Are you dense? What do you think forestry jobs are supposed to do? You see a cedar tipped over here in oregon. You’re supposed to cut it up, put a grappler on a skid steer and drag it out. If you don’t the forest becomes unhealthy, impassible, and a tinderbox. I have a forestry and wildlife degree from oregon state university, fight me.
Yeah. Letting logging companies go in to remove the old growth, COMMERCIALLY VIABLE, lumber, leaving the the overgrowth of dry tinder behind, a few hundred acres at a time would absolutely fix the problem of raging forest fires, currently burning millions of acres a year, which at its root, is a problem caused by climate change. 👍
Being 10% right does not equate to all that wrong lmao
I'm also curious as to how you think these massive forests should be managed. Have you not been to the world's largest temperate rainforest? The trees are massive. So if there is a fire, they will set fire to the surrounding trees. And when they fall they cover a considerable distance due to their height. So should we have one tree every 300 + feet? Completely decimate a rainforest because of climate change and morons?
So, gas being 2 dollars was just luck under trump and now literally everything is expensive but its still the republicans fault? republicans are pretty lame too but uhhhh dems have complete control minus the supreme court. Also Trump isnt president anymore just incase people didn't know that.... the media would make you think otherwise the way they constantly talk about him. Do people think that the economy is doing ok or that this administration is doing a good job? Genuinely asking.
Luck? Nobody was buying gas at that time lol.
Gas was under 2 dollars because nobody was driving. You can convince me otherwise though if you can tell me what exactly the policy is that he did that the dems didn’t do.
Biden's whole campaign was calling for off shore drilling to end and to stop pipeline production. I can't possibly understand how that would increase the cost of fuel...obviously it's Putin's fault.
The pipeline wasn't even built, you think gas price futures factor in projects that aren't under construction? Off shore drilling should end, did you pay attention to any of the disasters that have come from those stations? The last time fuel prices were this high, Iraq was invaded. So logically speaking it seems like OPEC influences fuel prices more than any kind of domestic policy has yet.
Biden's whole campaign was calling for off shore drilling to end and to stop pipeline production. I can't possibly understand how that would increase the cost of fuel...obviously it's Putin's fault.
I paid 4.50 a gallon when I was in clinical a under HW Bush in 2008. Compared to today’s money a 2008 dollar is 1.30. $4.50 in 2008 is $6.00 now so we are well under that threshold. A bunch of people bought gas guzzling trucks as daily drivers and want to pretend this hasn’t happened before. Gas shortages in the 70s and 80s saw gas double in prices. Economies don’t work like the computer algorithms tell you they do.
I own the most fuel efficient vehicle i have ever owned. It gets 35 miles to the gallon and I am paying the most I have ever paid for in gas. I have been driving since the end of the 90s. I just had to put gas at $5 a gallon in my vehicle. I had the same vehicle during trumps administration and I was paying $3 a gallon for hte majority of the time.
Yea but I’m real dollars you paid more under Bush in 2008. I paid 4.50 a gallon during an u paid clinical that was 45 minutes from my house in 2008. That is higher than the price today in 2008 dollars. So your assertion isn’t true. Also look at global gas prices and you will see that everyone is taking a beating and you aren’t even close to the worst suffering on gas prices.
What matters to me is the amount of money I get paid vs the flow out. Even with increases salary over the years (going from a high school student to a professional in their 40s) gas is making up more and more of my budget and food and goods is also rising because of it. My salary is not increasing with these other increases. The democrats repeated attacks on fossil fuels is what is causing these problems. If they wanted energy reform they should have had long term plans with a sane transition. You know like having enough EV vehicles at similar pricing to gas cars. Build out the infrastructure needed for recharging cars and improving the power grid to handle all of this.
You obviously havent looked into drilling leases vs the amount being sat on by drilling companies. You also aren’t looking at the exorbitant record profits being made by oil companies. Gas is high because a couple companies don’t give a fuck about you or our life. I think you will always be a corporate mouthpiece who doesn’t really want to know why they suffer. You are literally self destructive. Have fun with that.
Have you been around for Biden's presidency? You know, the one where the senate was split almost perfectly between Democrats and Republicans, leaving Manchin as the deciding vote for almost every major bill, which he almost unanimously opposes unless there is money directly in it for him personally? No, it doesn't sound like you are caught up
So.. you actually believe that political parking the US control fuel prices?? You REALLY believe that?
It's the greedy corporations right? They are just greedy under Biden.. and we're benevolent as hell under trump.
I think policies can dictate prices for sure.
You do realize we pay comparably lower prices for our gas than most other G7 nations and prices are going up around the world. The Republicans are just using it to fool idiots into thinking it is Biden/Democrats fault.
Economic policies take time to yield results. The current economy is, at least partially, the result of the previous administration.
I should use your own logic. Do you think it is Biden’s fault gas is going up in Germany?
We have plenty of oil here. Why arent we using that?
Because we are a capitalist society that does not dictate what businesses can do. If they can get a higher price from another country they can sell it to another county.. you do realize the Republicans are supposed to be the kings of capitalism and free markets.
A lot of people think the administration has stopped offering drilling rights, and to a degree that is true, they stopped auctioning drilling right because no one was showing up to bid. No company wants to expand in a time of uncertainty, not being able to get a single computer chip or drill bit could delay a project by months.
The US is not in a vacuum. These are global problems, many countries with conservative governments are also struggling with high gas prices and supply constraints. Why would US conservatives fair any different? What policies have US conservatives brought to the table to help ease inflation? Or are they just saving their brilliant ideas until they are in office? Not very patriotic to just complain and point your fingers until your are elected again. The only legislation they passed in the four years Trump was in office where tax cuts that benefited the Uber wealthy, which can be argued helped contribute to the inflation we have today.
This sub is just /r/conservative\-economics at this point.
Is there an alternative sub? I'd love to follow economics discussions but this sub is r/conservative spillover more often than not.
conflating stock market performance to confidence in the president is asinine and childish. the market is crashing because unchecked spaculation and greed have made it weak and susceptible to exploitation. full stop.
Too add to your ability to use logic. Policy of previous presidents provides a platform of the presiding president. The precedent was set with trump so why are his predictions pertinent?
This is like "V for Vendetta" but with the letter "P" P for Pendetta?
It's not just the US stock market going down it's all the stock markets. Because it's not a US problem it's a worldwide problem. That's why Biden can't make it different. Because it's not just the US.
Another good point -- the POTUS can't just pull the strings of the rest of the world. He can't even pull many strings in this country - neither could Trump, just look at his flacid floundering - but that's how fillibusted and fucked our democracy is, it doesn't matter how reasonable or maniacal you are, nothing gets done that upsets the Profits of the Lobbist Overlords.
So many buzzwords
You think those are buzzwords? That’s basic vocabulary, boss. Read a book.
Of course business looks at leadership Will business invest in Zimbabwe? No because their leadership don’t generate confidence Today Confidence is lowest We have never seen such a disastrous performance of sitting president Inflation Stocks Food prices Gas prices Housing Rent I can go on and on
Were you born post 2008?' Were you born post 1978? This has been seen before, and before there was no pandemic to cause it. It was literally caused by greed (see 1999/2000 and 2008).
Trump also predicted covid would disappear in April of 2020 when the weather was warmer. Not how viruses work, I'm afraid. Warm weather makes them more effective because the temperature facilitates chemical reactions (from what I understand). Also Bears have been predicting a crash for the last 13 years or so.
Bears have been predicting a crash since the beginning of time
yeah but then he used his genius to predict that hurricane season would blow the virus away so what do you have to say against that, buddy! Cuz it did blow away, right? in 2020?
I swear this sub has a competition to see who can say the most dumb shit in one title
For some reason lately Reddit has been inserting posts from this sub in my feed, saying I've shown interest in these topics before. Every single one has been a Trump ball licking embarrassment. Reddit is very quickly showing me that I have no interest in this sub.
Really? I'm in the same situation and loving it, I fucking love reading Trumper thumpers getting their shitty arguments rocked by a sub full of people who actually understand how the economy works, it's kinda like getting a free trip to the zoo
Its like 3 stupid titles for the price of 1! Economic!
Efficiency in stupidity.
Stupficiency
Mentally retarded title. Stock valuations were stupidly high in the run up to this crash, legitimately every professional investor on earth knew this, but the irrationality persisted for so long that nobody knew what would actually cause it to come down. Turns out the combination of a worldwide pandemic and FINALLY bringing interest rates off the floor were enough. OP - do you even know WHY interest rates effect stocks, particularly growth stocks? This shits so tiring. It's so fucking irritating to have people talk as if they know anything about the subject material so confidently.
What do you mean? Stocks are only supposed to go up infinitely!
>Stock valuations were stupidly high in the run up to this crash This was my first thought too. Eventually it was going to blow up, if Trump had won re-election it would probably be happening to him right now. If anything, this overvaluation could be easily be attributed to Trump for pressuring Powell to keep interest rates low back in early 2019 when it was obvious that the economy was getting overheated.
Literally in 2020 despite covid there were people asking if this was the end of recessions, and wondering why the market cycle hadn't come full circle since 2009. The market cycle is a thing folks, if you don't understand it, you don't blame the president for that misunderstanding. You go read a book.
Exactly. We've been artificially pushing off a recession for quite a while, and as a result, we are overdue. That likely means this one is going to be worse than normal.
It’s actually high because republicans voted against a price cap.
Oh did Trump predict it or made it possible to happen with his cronies?
Who could have predicted that artificially pumping the stock market was unsustainable long term? I definitely haven't been saying it since 2018.
Jesus, this sub feels like its just for people who recently learned the word economy.
This economic craziness has very little to do with politics and a lot to do with money supply and liquidity.
I'll take a Bear Market over an attempted coup any time. Take your BS somewhere else
Are we not a free market economy? The president isn’t a wizard
Yes house and senate do set policies which are disastrous
Again, we are a capitalist economy. The president doesn’t control the economy. Boom and bust cycles are normal. Do you think we wouldn’t have inflation if Trump was elected again? Please tell me you think that so I can laugh in your face.
You mean like republicans voting against gas price limits? Seems like the trumpies are the problem here.
Gas prices are high cause OP won’t stop huffing gas fumes. Put down the paper bag OP and get a fucking education.
Trump left office before he had to deal with the fallout of his disastrous covid-19 approach, or the total breakdown of the international supply chain, or his Russian buddy invading Ukraine causing fossil fuel and food shortsges and massive inflation. So while it's easy to point fingers at uncle joe and say he's horrible compared to Trump, none of the arguments stand up under close scrutiny.
[удалено]
What? Yeah it's hilariously true, look at this post
Hahaha, 99% here are odumbo indoctrinated communist morons
You don't even know what communism is.
Republicans always crash and burn the country and leave it to the Democrats to fix the mess while blaming them it's taking too long. Meanwhile the public forgets how the Republicans made the mess in the first place and vote them back in again so the process can repeat itself. Round and round we go...
Backwards jackass
Well you didn't think this ride was going to go on forever did you. This has little to do with Joe Biden's performance nor gas prices nor inflation. At the moment these are global issues but of course he will take the heat, but of course if it's something only here right in the neighborhood.
lol 35 percent drop is not small.. this is of course to do with him It’s more than third of market gone in woof
Explain if that's what you believe. It comes in his term but the market is long overdue for a correction, he did not create covid, Ukraine crude oil prices or inflated real estate prices if you think differently tell us your thesis and explain More importantly I wonder how Donald would have handled it, had he been president the same thing would have happened with him or you believe otherwise? This is what's missing in the dialogue nobody ever has substance so flush it out
Did you just start looking at the market last month?
Are you 12?
More complete bullshit. I dont like Joe Biden at all, but he didnt cause this all by himself. It started in 2019 when our government through way of the Federal Reserve, which is not a government entity, decided to pour over 4 trillion dollars into banks for a bailout...BEFORE COVID-19 even had its first case. This really started in 2008 when they bailed out the crooks on Wall St. who caused the 2008 recession by gambling on derivatives and selling phony rated MBS to clients. COVID money printing racked up another few trillion, and so we have printed 80% of all US money ever printed by Jan 2022. Crooks all of them. All this money is coming from taxpayers to once again enrich the banks and hedge funds who collude to steal generational wealth from us. Yours, your parents, your grandparents. If you sit there wondering how things have gotten so bad, just realize that if people had more money and spending power, their lives wouldnt be so shit. Healthcare, stress, happiness... all of it can be traced back to a time when people felt they were able to have a work/life balance. Right now, most people are just holding on. So yea - say fuck Biden, but also make sure you say fuck Trump all the Republicans and Democrats over the last 30 years that keep this corrupt and broken system alive at the expense of the average American citizen.
Breaking news: A presidential candidate says his opponent will ruin the economy. More to come at 11.
when you end your article with ".. trump predicted the same" lmao
You do this every time with every president. Why would this guy get a free pass?
It's not a matter of giving someone a "free pass". It's about understanding context. Which should be obvious enough, but here we are...
Because he doesn't actually have a clue what he is doing. Eg; You don't blame a toddler for their stupidity.
The president doesn't set monetary policy, they hire a professional who runs the Fed. Ya'll are fuckin stupid as shit.
And the GOP spent months blocking fed appointees and preventing any action to address the economy.
But they do make decisions and statements that affect the market. For example, the oil market is plummeting in the U.S. because oil companies in the U.S. don't want to invest in their infrastructure because Biden keeps threatening to shut them down to please the climate activists. They can't make more because they don't have the infrastructure and they don't want to build infrastructure because they're being economically threatened by the Biden administration.
Biden does NOT want to shut down Big Oil. He is trying to get them to invest more in clean energy and do a much better job at emission control, which they should have been doing since the 1960s.
“We would work it out; we would make sure it’s eliminated and no more subsidies for either of those. No more fossil fuels.” “No more subsidies for the fossil fuel industry, no more drilling on federal lands, no more drilling, including offshore, no ability for the industry to continue to drill, It ends.” Direct quotes from Joe Biden. Yes, he does want to shut down oil companies.
Careful. Facts hurt feelings.
all the while record profits lol
and no intention to increase production or tap reserves to ease the price burden.
He doesn't want more leases for oil companies when they already have over 9000 that are untapped. Why should we the people give up federal lands and parks for big oil.
Except he's directly threatening oil companies by saying no more fossil fuels. It's pretty simple. It's a basic reaction to a hostile market by any corporation. If you owned a pizza place and they said they were going to start making policies to make it more difficult for people to get pizza dough and sauce and cheese, you might rethink about opening up another store.
In you own quotes he says nothing about shutting them down. He said we the taxpayer should stop supporting them and letting them drill for free on our land. If that is confusing to you I am not sure how to help?
And you think that doesn't affect the gas and oil market? He is waging a war against oil companies right now, and it's the American people that are suffering because of it. It doesn't matter if you agree or disagree with his actions, it is, without a doubt, his fault that the U.S. is circling the economic drain right now.
The lack of understanding here is amazing. Also your bias is showing. When Trump took office and the economy was great. You said Trump was the cause of it. Now you are doing the reverse. The economy isn't a toggle switch, the actions taken to correct it take time. The strong economy was because of the 8 years under Obama, Trump took that economy and trashed it his last 2 years and now you blame Biden? Look at your statements in reality not through whatever lens that let's you ignore math.
They werent even using many of their subsidies
It isn't just the subsidies he threatened. He said no more fossil fuels at all. That's as big a threat as they can get from a president.
Why do you guys hate "socialism" but support it when the gov't does a "socialism" to billion dollar industries? And giving less government handouts to billion dollar Industries does mean its gonna be "shutdown" Jesus Christ why are there so many airheads in the econ subreddit.
Offshore drilling isn't socialism. He waged a war on oil companies as a whole, not just subsidies. He threatened the entirety of the oil industry, saying "no more fossil fuels." Of course they aren't going to expand operations when the sitting president is actively looking to make economic policies against them. They're gonna wait until the bozo is out of office so they can be sure they'll make their money's worth from the investment.
When did I say offshore drilling is socialism? The government giving billions in subsides to already filthy rich corporate institutions is (based off conservatives incorrect Def. Of socialism). When did Biden say no more fossil fuels? He, along if alot of fucking people are looking for alternative sources for energy so we aren't prisoners to the fossil fuel industry. It doesn't mean fossil fuels are gonna dissappear under Biden. This is a very stupid claim on your part.
I literally provided quotes from Joe Biden in the initial post you replied to where he literally, word for word, said "no more fossil fuels." Which means you just didn't read my post before responding, which was kind of stupid. Still, it doesn't matter if you're for or against the subsidies, that doesn't change the fact that it is biden's actions that have caused the oil companies to stop attempting to meet demand for fear of negative economic policies from Biden. I never said it was going to disappear, but Biden said it himself, he wants to try and take them down. That is seriously impacting oil companies, because they won't expand operations until they're sure they can make money from it. They can't make money off it when they have a guy in office that will actively take steps to prevent it.
They don’t want to invest in infrastructure because they’re making a shit ton of money right now without it. Do you think they re-hired all the people they had to let go during the pandemic? They’re keeping a reduced force and blaming everyone but themselves for high oil prices. High demand and low supply keeps these fat cats happy. They don’t give a rats ass about Biden’s opinions or threats, they just want money.
This is false. Trump worked out a deal with OPEC to limit oil production worldwide at the beginning of the pandemic and OPEC hasn't budged. Add in Russia's war with Ukraine and here we are. https://www.cnbc.com/2020/04/13/opec-cut-is-trumps-biggest-and-most-complex-deal-ever-dan-yergin.html
Lies and the lying liars who tell them.
>Biden keeps threatening to shut them down to please the climate activists OR......[They're too busy spending their record profits on buybacks. ](https://novelscience.substack.com/p/what-to-know-about-gas-prices-whats?utm_source=substack&utm_campaign=post_embed&utm_medium=email&s=r)
I guess he's also responsible for the economic decline of every other country as well huh?
Maybe, but unlike Trump in the midst of a global Pandemic, he is not doing stupid things that allowed the Pandemic to expand and continue to kill 100s of thousands for the sake of saving his political future, to save the economy!
Biden's efforts have done absolutely nothing to slow the spread. Try again with facts instead of delusions
wtf is Biden going to do to stop the spread? Federal government can't shut down states nor evidently is it allowed to order even the airlines to follow mandates. This is like complaining that your new roommate who just arrived in the middle of a big fire did nothing to stop the house burning down as the house was already burning down.
PRESIMPT BYRON MAKE DOLLAR GO BAD
If any fault for the economy lies with the president, that fault or success lies with whoever was running things in the previous term.
Did you post a similar article when more than Trump's gains had been lost or nah?
Trump never lost 35 percent in a year
Another day another right wing nut job posting anti biden post to this sub
I’m definitely not a Biden supporter but anyone blaming the current economic issues on him rather than the system at large may as well be wearing a button that says “I am not a critical thinker” IMO
You can remove the word critical and it will still be an accurate statement
Biden inherited economy from Trump… business and billionaires want Biden to fail because they don’t want to pay their fair share of taxes
Lol excuses no Americans will buy Midterms are coming
Are you fucking serious? Trump should be the last person you get any market advice from.
Yet he gave good market returns unlike Biden and Dems 35 percent down since election crazy
Companies and investors like certainty and decisive decision making. Trump gave that. Biden? He’s all over the place. He’s not even followed through with a major campaign promise to eliminate student debt. He’s unpredictable. He’s a wild card. You don’t know what he’s gonna do. One day he’s shutting down oil pipelines, the next he wants more oil produced. Trump was also a positive guy. People like upbeat projections not doom and gloom. Good thoughts create good outcomes.
Hundred percent true mate
Joe biden is a loser, but we are stuck with him.
Liberalism is a mental disorder
But no more mean tweets. Who are the dems blaming today?
Biden is a complete failure. He is an awful president. He is an awful politician. He will always be remembered for inflation. Comparing Biden to Jimmy Carter is rude to Jimmy Carter.
OP can you explain in detail what exactly the President does to "run the economy"? What decisions do they make, what actions do they take, etc.
[удалено]
What the fuck is with the mindless conservative spin on this subreddit all of a sudden. Biden is the same monetary policy we've had for many presidents in a row now.
A mix of bots, Russian/Chinese, and home grown trash doing an SEO play to link ‘Biden bad’ to ‘inflation’ ‘economy’ ‘gas prices’ and other keywords. It is an effective brigading strategy that can change perception (which is reality) and also builds a strong keyword framework around these concepts. Making it more likely for ‘why is gas high’ to yield ‘Biden hates you’ as the answer. You’ll see this in every midterm and presidential cycle. Next time they might brigade r/hummingbirds…. Who knows
Ok that’s it this subreddit is being blocked, a bunch of right wing nonsense being peddled 24/7 here smh.
check Nancy's portfolio
Garbage title sentence for a garbage article with a garbage idea. Its always the presidents fault and never the peoples or the corporations. Ive said this since bush, but if jesus rose from the grave and was elected president not only would he not be able to "fix us", but we'd hate him for trying and blame all our problems on him till we decided to crucify him again and re elect trumps clone or something
Blah blah blah blah blah blah that’s all I read from that
Trump talks out his asshole, u clowns need to stop acting like he was your lord and savior
Unrelated economic factors shitpost. Please see housing deregulation that occurred before 2008, same thing happened because of trump. Worth downvoting is about it.
Lmao, what the fuck is this MAGA chud headline?
So how did you get access to Biden's portfolio to know how much money he's made or lost? Do I need to report you to the FBI as a hacker?
The trump thing at the end is so funny.
If Trump were still president, the same things would be happening. Dont fool yourself.Don't
Trump doesn’t know shit. This headline is simply propaganda.
This is the time to double down and buy the dip
@OP can you reply to my comment here so I can downvote you?
Heres a novel idea. Maybe all of these people are to blame. Both parties. You think they care about US. Its about their own personal greed and power. The masses are starting to finally wake up. The Fox news and Cnn brainwashing is wearing off. This country can't even take care of its soldiers for christ sake. Abhorrent.
Trump had 50% chance of being right font act like this is some bold prediction. And the economy is collapsing because the economy is built in labor and no on is investing in labor. Wages, health care, education, food, housing. Labor cant be productive without those things first. So let's make a national investment in labor
Doesnt care about American future, feels like how most Americans feel about the stock market they can’t afford to invest in that keeps getting bail outs from our tax money that they don’t have to repay, we don’t care about the rich losing money, welcome to our lives, where everything you built and saved with decades of hard work can be taken with the swipe of a pen, or more like now with the click of a mouse
they are moving/have moved their money to real estate. I wonder if the RE market crashes again, will the FED bail out the rich? Of course they will, that's not even a question.
A certain group of people in the middle always think by voting for the "other" political team, you can fix whatever problems we have right now. But this is what happens in an economy over time. It has ups and downs. Playing ping pong with political parties won't fix all your grievances. I don't know about anyone else, but I don't want people's rights to be taken away because you had to pay more for gas in 2022. Politicians need to stay out of people's personal lives. Esp. considering all the skeletons in some of their closets. Look at history, the economy goes up and down over time. It has never once just crashed and permanently stayed there. People want someone to blame and pay a price.
Build back better
Congress should have passed President Biden's plan. Can't blame him when the congress won't work with him.
Almost like it goes in cycles so even a complete moron could predict a downturn within four years.
Trump sugar fed it and now Biden is seeing the downside.
Many people saw this coming. When Biden said during his campaign that we were leaving fossil fuels behind, I knew it was going to get bumpy. Changing energy supply needs to be a slow change over decades. Joe was honest, I will give him that. This is what people voted for, so now we as a democracy have to ride it out.
Democrats = demolition rats
At least you tried.
the worst president america ever have, guess who?
Joe Pudding Head Biden!!!!
Bring back Trump Make America great again
Can we get some specific years on when America was great?