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There has been no boom in manufacturing, contrary to what some of our resident lefty pals have tried to claim. It's all fake news, and the data supports that. US manufacturing has been in a state of perpetual decline for months on end since the Biden regime took over.
Nobody would have loved Biden's claims to be true more than I in this regard. But, I'm not falling for fake news and propaganda, sorry. I was really hoping Biden could get something right. But that's expecting wayyyy too much from the demented fool.
Originally Posted by The Telegraph (31st July 2023)
Biden’s calamitous presidency is becoming an American horror story - The Telegraph
His economic record is dire. Debt is spiralling. Crime has people living their daily lives in fear
Desperate to bolster his record as election season approaches, Joe Biden is shouting from the rooftops about his handling of the economy. But even with the welcome news that inflation has dropped to 3 per cent and equities rallying, Americans aren’t convinced. His approval rating is at 41 per cent, close to the lowest level of his presidency – and the economy remains the number one issue.
Oblivious and tone deaf to these concerns, as usual, Biden has been trumpeting his economic victories. His critics respond with a litany of policy failures and missed opportunities that have left ordinary working Americans anxious for their finances. The inflation rate was just over 1 per cent when Biden took office; it peaked at 9 per cent last June, the highest level in four decades.
And while inflation has slowed, the price of staple goods is still soaring. Bread shot up nearly 12 per cent, frozen vegetables 17 per cent, baby formula and rents 8 per cent. While Biden brags about his record, families are struggling to feed their children. It’s no wonder Americans think the USA is heading in the wrong direction.
Part of the blame falls on Biden’s heavy-handed regulation, which has piled vast cost onto American businesses. Another might be attributed to mounting Government debt, which has soared past $32 trillion. The threat of increased taxation as the ranks of the IRS swell is creating a lingering sense of dread.
Biden can claim little credit for what has gone well. His “Inflation Reduction Act” was effectively a borrow and spend package pouring tax credits into so-called “green” technologies. While it’s likely to add $750 billion to the nation’s debt over the next decade, the University of Pennsylvania found that its impact on inflation was “statistically indistinguishable from zero”. The only real result in the near term is that it’s likely to slightly decrease short-term economic growth; at least something was reduced.
Wherever you turn, Biden’s calamitous presidency is turning into an American horror story. Reading and math scores are at their lowest levels in decades. Worker productivity is plummeting while drug overdose deaths reach record highs. Crime has people living their daily lives in fear.
And what’s Biden’s response to this? To tout his achievements. To preen about his record. Like so much else about his shameless presidency, his economic messaging is utterly out of touch with reality. It is almost unbelievable that this shambling mess is viewed as a re-electable candidate.
Actually from what I've heard there's major employee shortages all over. What are they doing? With the government's blessing they are importing among other things Somali refugees, along with temp agencies bringing in workers from cities like Chicago where they pay them more than we make, while the existing employees get wages which are rising but still not keeping up with housing prices while being expected to take on the increased workload and overtime from the shortages, people are starting to up and quit randomly, at least around here.
There are consequences to overheating the economy with too much quantitative easing. Hopefully the engineer a recession on purpose until the labor supply meats the balance. What they are doing now is leading us down a path of decay, with overprinting and bringing in anyone and everyone who has a pulse.
Then again there are some who would say it's the nations who refuse to bring in immigrants like Russia that are going to decay. That might be true if we didn't have a system where the top and bottom are pricing out the middle from modern monetary theory and having a growing number of financial parasites who make their money from simply having money. We need more housing that is affordable or society will decay. Homes and rent are basically inflation adjusted double the price the baby boomer generation paid in say 1990.
Our plant has a $450 million expansion going on, but we have neither the labor nor the housing to bring in new employees to this area. When they come they bid up home prices and make this part of flyover country as ridiculous as some major cities. This is putting pressure on the existing employees like I already said. Call me racist, but the day I have to train someone who can barely speak english to do my job is the day I walk. The more time goes on, the more I detest current leadership.
Weird and unwise things happen when “free” money is injected into economic systems by government edict. In the USA the CHIPS act, Inflation Reduction Act, Green New Deal, the EU’s has its New BauHaus, China has the High Speed Rail and NEV programs, etc. These megaprojects were cobbled together by bureaucrats and special interest groups, not industry experts and largely ignore true market signals of supply and demand. The results are predictable, a few will profit handsomely and the failures will be blamed on “others” while taxpayers foot the bill.
From the OP's link: " ... a number of these factories are being built by foreign companies, not American companies. For example, JA Solar, a Chinese company, plans to build factories in Arizona while benefiting from Biden's subsidies. Meyer Burger Technology, a company out of Switzerland, is also building solar factories in Arizona."
Meanwhile, American companies like Stanley-Black and Decker have closed their American plants like the recently closed Craftsman's tool plant in Texas.
Biden likes to Boast and Talk BIG but at the end of the day we all know it is LIES and more LIES.
Of course if he dared to tell us the Truth it would lead to people panicking and the house of cards the Dems built would fall and worse for them the collapse would have many remembering and wanting a return to the prosperous good times under Trump.
What does Biden have to run on in 2024? I don't think it will be enough to run on his terrible record and being the alternative to Trump but who knows? The Dems are in a deep denial that Biden is a disaster.
And what’s Biden’s response to this? To tout his achievements. To preen about his record. Like so much else about his shameless presidency, his economic messaging is utterly out of touch with reality. It is almost unbelievable that this shambling mess is viewed as a re-electable candidate.
.... What does Biden have to run on in 2024? I don't think it will be enough to run on his terrible record and being the alternative to Trump but who knows? The Dems are in a deep denial that Biden is a disaster.
He'll tell us how he saved the economy, has the lowest unemployment ever, brought manufacturing back, is fixing climate change, has ended cancer, has solved the riddle of whether the chicken or the egg came first, answered the age-old question of "Why am I here?", etc., etc.. And the compliant msm will just repeat his "accomplishments" without question, all the while reminding us that the orange man is bad.
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