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The New Coffee Room

  1. TNCR
  2. General Discussion
  3. Bidenomics At Work

Bidenomics At Work

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  • Doctor PhibesD Offline
    Doctor PhibesD Offline
    Doctor Phibes
    wrote on last edited by
    #73

    Yes, obviously America has a big influence - the old cliche America sneezes, the world catches a cold has a lot of truth to it.

    However, unaffordable housing and high oil prices, which is what were talking about, are down to a lot more than the US. Despite what some politicians might claim, American oil production isn't the primary driver behind oil price.

    And a lot of what we're suffering from now is a direct consequence of the Covid epidemic.

    I was only joking

    1 Reply Last reply
    • JollyJ Offline
      JollyJ Offline
      Jolly
      wrote on last edited by
      #74

      About those jobs revisions...

      https://dailycallernewsfoundation.org/2023/11/03/the-biden-admin-has-overcounted-new-jobs-almost-every-single-month-this-year/

      “Cry havoc and let slip the DOGE of war!”

      Those who cheered as J-6 American prisoners were locked in solitary for 18 months without trial, now suddenly fight tooth and nail for foreign terrorists’ "due process". — Buck Sexton

      taiwan_girlT 1 Reply Last reply
      • JollyJ Jolly

        About those jobs revisions...

        https://dailycallernewsfoundation.org/2023/11/03/the-biden-admin-has-overcounted-new-jobs-almost-every-single-month-this-year/

        taiwan_girlT Offline
        taiwan_girlT Offline
        taiwan_girl
        wrote on last edited by
        #75

        But would not the Biden administration want to have lower jobs reported rather than higher jobs numbers? With increased jobs, then there is a higher chance that the US interest rates will continue to be raised. I would think that the Biden administration would want the rates to be decreased.

        1 Reply Last reply
        • jon-nycJ Online
          jon-nycJ Online
          jon-nyc
          wrote on last edited by
          #76

          The Biden administration BLS has revised down previously reported jobs data for nearly every month this year, resulting in a huge disparity from the originally advertised numbers, according to the Bureau of Labor Statistics (BLS)..

          The BLS have their methods, administrations come and go.

          You were warned.

          George KG 1 Reply Last reply
          • jon-nycJ jon-nyc

            The Biden administration BLS has revised down previously reported jobs data for nearly every month this year, resulting in a huge disparity from the originally advertised numbers, according to the Bureau of Labor Statistics (BLS)..

            The BLS have their methods, administrations come and go.

            George KG Offline
            George KG Offline
            George K
            wrote on last edited by
            #77

            @jon-nyc said in Bidenomics At Work:

            The BLS have their methods, administrations come and go.

            Which raises the question: Has BLS revised numbers in the past, and if so, how often?

            "Now look here, you Baltic gas passer... " - Mik, 6/14/08

            The saying, "Lite is just one damn thing after another," is a gross understatement. The damn things overlap.

            AxtremusA jon-nycJ 2 Replies Last reply
            • George KG George K

              @jon-nyc said in Bidenomics At Work:

              The BLS have their methods, administrations come and go.

              Which raises the question: Has BLS revised numbers in the past, and if so, how often?

              AxtremusA Offline
              AxtremusA Offline
              Axtremus
              wrote on last edited by Axtremus
              #78

              @George-K said in Bidenomics At Work:

              @jon-nyc said in Bidenomics At Work:

              The BLS have their methods, administrations come and go.

              Which raises the question: Has BLS revised numbers in the past, and if so, how often?

              Yes, the BLS has been making revisions for a very long time (my memory of that goes as far back to when Clinton was President, won't surprise me if that practice stretches back even further). It's a publicly documented practice, see https://www.bls.gov/bls/empsitquickguide.htm , look for the section under "Monthly Revisions."

              Srsly, one may quibble over specific methods, but having a revision practice in place is the right thing to do to balance "timelines" and "accuracy." The BLS has that and discloses it; has been that way for a very long time.

              1 Reply Last reply
              • George KG George K

                @jon-nyc said in Bidenomics At Work:

                The BLS have their methods, administrations come and go.

                Which raises the question: Has BLS revised numbers in the past, and if so, how often?

                jon-nycJ Online
                jon-nycJ Online
                jon-nyc
                wrote on last edited by
                #79

                @George-K said in Bidenomics At Work:

                @jon-nyc said in Bidenomics At Work:

                The BLS have their methods, administrations come and go.

                Which raises the question: Has BLS revised numbers in the past, and if so, how often?

                I think they literally always revise them There are things that are estimated in the first pass that can be measured in the second.

                You were warned.

                1 Reply Last reply
                • JollyJ Offline
                  JollyJ Offline
                  Jolly
                  wrote on last edited by
                  #80

                  Then the press does the public a mighty disservice by acting as the propaganda arm for the administration.

                  “Cry havoc and let slip the DOGE of war!”

                  Those who cheered as J-6 American prisoners were locked in solitary for 18 months without trial, now suddenly fight tooth and nail for foreign terrorists’ "due process". — Buck Sexton

                  1 Reply Last reply
                  • jon-nycJ Online
                    jon-nycJ Online
                    jon-nyc
                    wrote on last edited by
                    #81

                    There have been 7 downward revisions and 1 upward revisions through August.

                    In 2022 there were 7 upward revisions and 5 down.

                    In 2021 there were 11 upward revisions and 1 downwards.

                    So the majority of months since his inauguration the BLS underestimated the sheer awesomeness of Bidenomics.

                    You were warned.

                    JollyJ AxtremusA 2 Replies Last reply
                    • jon-nycJ jon-nyc

                      There have been 7 downward revisions and 1 upward revisions through August.

                      In 2022 there were 7 upward revisions and 5 down.

                      In 2021 there were 11 upward revisions and 1 downwards.

                      So the majority of months since his inauguration the BLS underestimated the sheer awesomeness of Bidenomics.

                      JollyJ Offline
                      JollyJ Offline
                      Jolly
                      wrote on last edited by
                      #82

                      @jon-nyc said in Bidenomics At Work:

                      There have been 7 downward revisions and 1 upward revisions through August.

                      In 2022 there were 7 upward revisions and 5 down.

                      In 2021 there were 11 upward revisions and 1 downwards.

                      So the majority of months since his inauguration the BLS underestimated the sheer awesomeness of Bidenomics.

                      Therefore, lies are ok?

                      “Cry havoc and let slip the DOGE of war!”

                      Those who cheered as J-6 American prisoners were locked in solitary for 18 months without trial, now suddenly fight tooth and nail for foreign terrorists’ "due process". — Buck Sexton

                      1 Reply Last reply
                      • jon-nycJ Online
                        jon-nycJ Online
                        jon-nyc
                        wrote on last edited by
                        #83

                        First draft estimates using long standing published methodology is hardly a ‘lie’.

                        You were warned.

                        1 Reply Last reply
                        • JollyJ Offline
                          JollyJ Offline
                          Jolly
                          wrote on last edited by
                          #84

                          They are not presented as first drafts. They are presented in MSM as hard numbers and rarely are the revisions reported as news, except as a blurb on page 15.

                          Intentional obfuscation is a lie.

                          “Cry havoc and let slip the DOGE of war!”

                          Those who cheered as J-6 American prisoners were locked in solitary for 18 months without trial, now suddenly fight tooth and nail for foreign terrorists’ "due process". — Buck Sexton

                          1 Reply Last reply
                          • jon-nycJ Online
                            jon-nycJ Online
                            jon-nyc
                            wrote on last edited by jon-nyc
                            #85

                            Fun to see an Always Trumper needing a fainting couch to deal with the big lie of BLS statistics.

                            You were warned.

                            1 Reply Last reply
                            • JollyJ Offline
                              JollyJ Offline
                              Jolly
                              wrote on last edited by Jolly
                              #86

                              I didn't mention Trump. Other than a link, I haven't mentioned Biden in the link about job numbers.

                              The Bible sez the wicked flee, when no man pursueth...

                              Correction: I did mention The Resident on 8/28/2023 in this thread.

                              “Cry havoc and let slip the DOGE of war!”

                              Those who cheered as J-6 American prisoners were locked in solitary for 18 months without trial, now suddenly fight tooth and nail for foreign terrorists’ "due process". — Buck Sexton

                              1 Reply Last reply
                              • jon-nycJ Online
                                jon-nycJ Online
                                jon-nyc
                                wrote on last edited by
                                #87

                                You were warned.

                                1 Reply Last reply
                                • AxtremusA Offline
                                  AxtremusA Offline
                                  Axtremus
                                  wrote on last edited by
                                  #88

                                  Goldman Sachs seems to be more optimistic than the concensus most of the time.
                                  What is GS seeing that the rest are not?
                                  Or is GS trying to mislead everyone else?

                                  JollyJ 1 Reply Last reply
                                  • AxtremusA Axtremus

                                    Goldman Sachs seems to be more optimistic than the concensus most of the time.
                                    What is GS seeing that the rest are not?
                                    Or is GS trying to mislead everyone else?

                                    JollyJ Offline
                                    JollyJ Offline
                                    Jolly
                                    wrote on last edited by
                                    #89

                                    @Axtremus said in Bidenomics At Work:

                                    Goldman Sachs seems to be more optimistic than the concensus most of the time.
                                    What is GS seeing that the rest are not?
                                    Or is GS trying to mislead everyone else?

                                    You don't make much money preaching doom and gloom in the financial sector. At least for most investments.

                                    “Cry havoc and let slip the DOGE of war!”

                                    Those who cheered as J-6 American prisoners were locked in solitary for 18 months without trial, now suddenly fight tooth and nail for foreign terrorists’ "due process". — Buck Sexton

                                    AxtremusA 1 Reply Last reply
                                    • JollyJ Jolly

                                      @Axtremus said in Bidenomics At Work:

                                      Goldman Sachs seems to be more optimistic than the concensus most of the time.
                                      What is GS seeing that the rest are not?
                                      Or is GS trying to mislead everyone else?

                                      You don't make much money preaching doom and gloom in the financial sector. At least for most investments.

                                      AxtremusA Offline
                                      AxtremusA Offline
                                      Axtremus
                                      wrote on last edited by
                                      #90

                                      @Jolly , that may be true, but the virtually all the individual inputs that are aggregated into the consensus come from the financial sector. So that doesn’t explain why Goldman Sachs appear to be more optimistic that the rest of the financial sector.

                                      1 Reply Last reply
                                      • George KG Offline
                                        George KG Offline
                                        George K
                                        wrote on last edited by
                                        #91

                                        Yeah, the economy sucks because MAGA extremists.

                                        "Now look here, you Baltic gas passer... " - Mik, 6/14/08

                                        The saying, "Lite is just one damn thing after another," is a gross understatement. The damn things overlap.

                                        LuFins DadL 1 Reply Last reply
                                        • George KG George K

                                          Yeah, the economy sucks because MAGA extremists.

                                          LuFins DadL Offline
                                          LuFins DadL Offline
                                          LuFins Dad
                                          wrote on last edited by
                                          #92

                                          @George-K said in Bidenomics At Work:

                                          Yeah, the economy sucks because MAGA extremists.

                                          Yeah, they’ll finish the job…

                                          The Brad

                                          1 Reply Last reply
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