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Due to the Chinese Pandemic, there will most certainly be a recession. Prior to the recession, most economic metrics were strong, particilary employment at 50 year highs, and rising wages, and highest labor participation rates in decades.
Economic growth was still anemic due to Trump renotiating so many trade agreements all at the same time. Federal spending was also scaring businesses & consumers and was not being brought under control, and has worsened due to the $3.5T Chinese Pandemic stimulus. (Trump is 1/3rd of that equation).
That all being said...who would you rather have as President to pull us out of a recession? A President who has a decent track record for running the American economy, or, a candidate that has no experience running anything? Biden has never owned, or run a business of any kind. He's a lifelong policy maker. There is nothing in his past that demonstrates economic prowess. He has never been accoutable for a profit & loss enerprise...ever!
In fact, Biden helped to create the Chinese monster we are facing today by supporting normalized trade relations for China in 1999, then supported China's entry into the World Trade Organization in 2000. In the years that followed, America offshored millions of jobs to China, & China's economy & national defense grew; mostly at the expense of American workers who got cheap goods in return. Our trade deficit w/ China swelled due to Biden's policies.
Joe Biden has yet to propose a 2021 Budget like Trump has. Will Biden allow China to continue its growth off Americans backs? Will Biden curtail federal spending to re-install confidence in big biz, banks, & consumers? We don't know because he hasnt submitted a budget.
Biden is not campaigning to tell America what his ideas & plans for the future are, so we are all in the dark
Joe Biden has no P&L experience, a bad track record on foreign trade with our largest trading partner (China), no budget, no economic plan, no ideas, and no campaign agenda at all. We have no idea what he'd do if elected. The only thing we know is that he wants government to control healthcare, when they can't even run the VA, Obamacare's been a disaster, and we are all paying 2X as much for less coverage.
Biden lied to us about Obamacare costing less, and keeping our Doctors & Coverages.
If Americans vote for Joe Biden, they are not voting for the best candidate on the economy. Most Americans trust Republicans on the economy more than Democrats. This is not the time to vote for a Presidential candidate w/o any financial, or economic experience.
Excerpt: US recession began in February, ending record-long expansion
Response: It has not caught up to the 401k's..........they are doing well. People still believe.
Due to the Chinese Pandemic, there will most certainly be a recession. Prior to the recession, most economic metrics were strong, particilary employment at 50 year highs, and rising wages, and highest labor participation rates in decades.
Economic growth was still anemic due to Trump renotiating so many trade agreements all at the same time. Federal spending was also scaring businesses & consumers and was not being brought under control, and has worsened due to the $3.5T Chinese Pandemic stimulus. (Trump is 1/3rd of that equation).
That all being said...who would you rather have as President to pull us out of a recession? A President who has a decent track record for running the American economy, or, a candidate that has no experience running anything? Biden has never owned, or run a business of any kind. He's a lifelong policy maker. There is nothing in his past that demonstrates economic prowess. He has never been accoutable for a profit & loss enerprise...ever!
In fact, Biden helped to create the Chinese monster we are facing today by supporting normalized trade relations for China in 1999, then supported China's entry into the World Trade Organization in 2000. In the years that followed, America offshored millions of jobs to China, & China's economy & national defense grew; mostly at the expense of American workers who got cheap goods in return. Our trade deficit w/ China swelled due to Biden's policies.
Joe Biden has yet to propose a 2021 Budget like Trump has. Will Biden allow China to continue its growth off Americans backs? Will Biden curtail federal spending to re-install confidence in big biz, banks, & consumers? We don't know because he hasnt submitted a budget.
Biden is not campaigning to tell America what his ideas & plans for the future are, so we are all in the dark
Joe Biden has no P&L experience, a bad track record on foreign trade with our largest trading partner (China), no budget, no economic plan, no ideas, and no campaign agenda at all. We have no idea what he'd do if elected. The only thing we know is that he wants government to control healthcare, when they can't even run the VA, Obamacare's been a disaster, and we are all paying 2X as much for less coverage.
Biden lied to us about Obamacare costing less, and keeping our Doctors & Coverages.
If Americans vote for Joe Biden, they are not voting for the best candidate on the economy. Most Americans trust Republicans on the economy more than Democrats. This is not the time to vote for a Presidential candidate w/o any financial, or economic experience.
not going to get into the politics of it, but the bolded statement is wrong. we were running on a false economy propped up by low interest rates.
there were significant issues in the economy prior to the pandemic. stop falling for MSM financial news.
not going to get into the politics of it, but the bolded statement is wrong. we were running on a false economy propped up by low interest rates.
there were significant issues in the economy prior to the pandemic. stop falling for MSM financial news.
Exactly! Its funny so many people believe the economy is still doing great, yea, a global pandemic that cripples businesses for over a months time...again, on a GLOBAL scale....and hey, the stock market goes up..?! LOL if you fall for that nonsense.
Feels like an effort to keep people hopeful, (when its not due).
Excerpt: US recession began in February, ending record-long expansion
Response: It has not caught up to the 401k's..........they are doing well. People still believe.
Sure. A $6 trillion dollar bailout works magic in the stock market.
While I don't much doubt that the pandemic will have led to a short term recession, it can't be declared yet. A recession is defined as two consecutive quarters with negative GDP growth. We're not even six months through the year, much less since the pandemic problems started. It's literally impossible to make the declaration they did, at this time. It's political.
While I don't much doubt that the pandemic will have led to a short term recession, it can't be declared yet. A recession is defined as two consecutive quarters with negative GDP growth. We're not even six months through the year, much less since the pandemic problems started. It's literally impossible to make the declaration they did, at this time. It's political.
It is literally impossible for 2nd Qty to be positive. It was nothing short of a bloodbath, and there is no way the remaining 3 weeks is going to reverse it no matter how good they might be.
Atlanta Fed estimate for 2nd Quarter 2020 : -53.8 percent — June 4, 2020
1st Quarter was negative, although most of 1st Qt was not impacted by the pandemic, only the last few weeks was.
Quote:
The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the second quarter of 2020 is -53.8 percent on June 4, down from -52.8 percent on June 1. Following this week's data releases from the Institute for Supply Management, the U.S. Bureau of Economic Analysis, and the U.S. Census Bureau, the nowcast of second-quarter real gross private domestic investment growth decreased from -62.6 percent to -64.2 percent, while the nowcast of the contribution of the change in net exports to second-quarter real GDP growth decreased from 0.43 percentage points to 0.07 percentage points https://www.frbatlanta.org/cqer/research/gdpnow
The U.S. economy entered a recession in February, a group of economists declared Monday, ending the longest expansion on record.
The economists said employment peaked in February and fell sharply afterward, marking the beginning of the downturn.
.
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The unemployment rate is officially 13.3%, down from 14.7% in April. Both figures are higher than in any other downturn since World War II. A broader measure of underemployment that includes some of the unemployed who have given up looking and those who have been reduced to part-time status is 21.2%.
Let me guess....
Barack Obama owns the economy up to February 2020
Donald Trump owns the economy from February 2020 forward.
Right?
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