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The New Coffee Room

  1. TNCR
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  3. Bidenomics At Work

Bidenomics At Work

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  • AxtremusA Axtremus

    About doing "multiple gig jobs" vs. "one full time job," while "one full time job" is easier and more more predictable day-to-day, the "multiple gig jobs" model is arguably lower risk long term because you won't be completely out of work and out of income because an employer goes bust or terminate you all of a sudden.

    Yeah, the Industrial Revolution somehow led to an abundance of jobs that are steady year round, it lifted the standard of living for the masses. It's good to have "one steady full time job", it's good to not have to worry about what to do with your next eight hours (because your employer planned it out for you). But why would one expect that model to last forever?

    Aqua LetiferA Offline
    Aqua LetiferA Offline
    Aqua Letifer
    wrote on last edited by
    #240

    @Axtremus said in Bidenomics At Work:

    About doing "multiple gig jobs" vs. "one full time job," while "one full time job" is easier and more more predictable day-to-day, the "multiple gig jobs" model is arguably lower risk long term because you won't be completely out of work and out of income because an employer goes bust or terminate you all of a sudden.

    Ax, have you ever supported yourself through multiple gig jobs? I'd be very interested in hearing about your experiences.

    Please love yourself.

    1 Reply Last reply
    • JollyJ Jolly

      Because Biden jacked the interest rates and slowed the housing industry, coupled with a decrease in real wages during his administration?

      taiwan_girlT Offline
      taiwan_girlT Offline
      taiwan_girl
      wrote on last edited by
      #241

      @Jolly said in Bidenomics At Work:

      Biden jacked the interest rates

      I am pretty sure the US Central Bank is independent. One of the great things about it is that it has been able to maintain its independence, and (mostly) avoids politics,

      JollyJ 1 Reply Last reply
      • taiwan_girlT taiwan_girl

        @Jolly said in Bidenomics At Work:

        Biden jacked the interest rates

        I am pretty sure the US Central Bank is independent. One of the great things about it is that it has been able to maintain its independence, and (mostly) avoids politics,

        JollyJ Offline
        JollyJ Offline
        Jolly
        wrote on last edited by
        #242

        @taiwan_girl said in Bidenomics At Work:

        @Jolly said in Bidenomics At Work:

        Biden jacked the interest rates

        I am pretty sure the US Central Bank is independent. One of the great things about it is that it has been able to maintain its independence, and (mostly) avoids politics,

        You dump trillions of đź’µ into the economy, while racking up two trillion đź’µ deficits and a rise in interest rates is a certainty.

        From Heritage...

        https://www.heritage.org/debt/commentary/the-lefts-7-trillion-lie-biden-far-outpaces-trump-racking-the-national-debt

        “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
        • taiwan_girlT Offline
          taiwan_girlT Offline
          taiwan_girl
          wrote on last edited by
          #243

          IMG_1688.jpg

          Money Supply
          Jan 2017. $13.2
          Jan 2021. $19.3
          %change = 46.2%

          Jan 2021. $19.3
          Jul 2024. $21.0
          %change = 8.8%

          I am not an economist but I would hazard a guess that the period from Jan 2017-Jan 2021 had a larger impact on the economy (inflation, interest rates) than the period from Jan 2021 - Jul 2024.

          The US economy is like a huge ship. You can start to turn the "ship" but it takes a long long time to make that turn.

          That is why I have say many many times before. The president gets too much credit and too much blame because people only look at their term as if economic things that happen before and after their time have nothing to do with them.

          1 Reply Last reply
          • jon-nycJ Online
            jon-nycJ Online
            jon-nyc
            wrote on last edited by jon-nyc
            #244

            Indeed. The traditional conservative view of inflation would peg this clearly on the increase of the money supply in the spring of 2020. Precisely as Milton Friedman’s theory predicted, inflation increased dramatically 18 months later.

            In sober moments Jolly admits this and makes weak noises about the perception of the electorate.

            You were warned.

            1 Reply Last reply
            • AxtremusA Offline
              AxtremusA Offline
              Axtremus
              wrote on last edited by
              #245

              Intel announces huge layoff:

              https://www.washingtonpost.com/technology/2024/08/01/intel-layoffs-chips/

              15,000 jobs; 15% of its workforce.

              Biden has big plans to boost semiconductor manufacturing in the USA. The Chips and Science Act of 2022 allocates $52 billion in grants and $75 billion in loans to support the domestic chip industry. As the sole large scale semiconductor manufacturer left in the USA, Intel is expected to be the largest beneficiary of this. But none of the money has been released to Intel yet (still stuck in "due diligence").

              But Intel has already missed the boat for smartphones and tablets (Arm wins this sector), NVIDIA is winning the AI chip race, and AMD is eating more and more of Intel's PC lunch. :man-shrugging:

              1 Reply Last reply
              • taiwan_girlT taiwan_girl

                @jon-nyc said in Bidenomics At Work:

                We’re setting oil production records under Biden.

                U.S. oil production is forecast to average an all-time high of 12.8 million barrels a day this year and keep growing to 13.1 million in 2024, the federal Energy Information Administration said in its latest forecast. That’s up from the most recent trough of 5 million barrels a day in 2008, and probably enough to help the U.S. to keep its title as the No. 1 global crude oil producer.

                But what about federal lands?

                In fact, though, oil production from federal lands and waters has risen on Biden’s watch, reaching past 3 million barrels per day last year. The high mark during President Donald Trump’s term was 2.75 million barrels a day.

                And record production continues. Gosh darn President Biden!!!!

                https://energynow.com/2024/03/u-s-leads-global-oil-production-for-sixth-straight-year-eia/

                U.S. crude oil production lead global oil production for a sixth straight year, with a record breaking average production of 12.9 million barrels per day (bpd), the Energy Information Administration (EIA) said in a release on Monday.

                In December, U.S. crude oil production hit a new monthly record high of over 13.3 million bpd, the agency said.

                “The United States produced more crude oil than any nation at any time, according to our International Energy Statistics, for the past six years in a row,” the EIA added.

                The EIA says it is unlikely that the record will be broken by another country in the near term.

                taiwan_girlT Offline
                taiwan_girlT Offline
                taiwan_girl
                wrote on last edited by
                #246

                @taiwan_girl said in Bidenomics At Work:

                @jon-nyc said in Bidenomics At Work:

                We’re setting oil production records under Biden.

                U.S. oil production is forecast to average an all-time high of 12.8 million barrels a day this year and keep growing to 13.1 million in 2024, the federal Energy Information Administration said in its latest forecast. That’s up from the most recent trough of 5 million barrels a day in 2008, and probably enough to help the U.S. to keep its title as the No. 1 global crude oil producer.

                But what about federal lands?

                In fact, though, oil production from federal lands and waters has risen on Biden’s watch, reaching past 3 million barrels per day last year. The high mark during President Donald Trump’s term was 2.75 million barrels a day.

                And record production continues. Gosh darn President Biden!!!!

                https://energynow.com/2024/03/u-s-leads-global-oil-production-for-sixth-straight-year-eia/

                U.S. crude oil production lead global oil production for a sixth straight year, with a record breaking average production of 12.9 million barrels per day (bpd), the Energy Information Administration (EIA) said in a release on Monday.

                In December, U.S. crude oil production hit a new monthly record high of over 13.3 million bpd, the agency said.

                “The United States produced more crude oil than any nation at any time, according to our International Energy Statistics, for the past six years in a row,” the EIA added.

                The EIA says it is unlikely that the record will be broken by another country in the near term.

                And again another record production of oil!!

                https://www.forbes.com/sites/davidblackmon/2024/08/11/americas-resilient-oil-drillers-pump-out-another-record/

                In case you missed it, the U.S. Energy Information Administration (EIA) reported Thursday that domestic oil and gas producers set another new record high in oil production during the week ended August 4. U.S. producers pumped out an amazing 13.4 million barrels per day (bpd) for the week, an increase of 800,000 bpd from the same week a year ago. This latest record represents the highest level of oil ever produced by any nation on earth.

                and

                Over the last 44 months, the industry has managed to grow U.S. oil production by 2.3 million bpd

                If I do the math correctly, that is about a 30% increase in production during President Biden term when compared to President Trump.

                1 Reply Last reply
                • jon-nycJ Online
                  jon-nycJ Online
                  jon-nyc
                  wrote on last edited by jon-nyc
                  #247

                  There’s a reason the American people fired Donald Trump.

                  You were warned.

                  1 Reply Last reply
                  • JollyJ Offline
                    JollyJ Offline
                    Jolly
                    wrote on last edited by
                    #248

                    And regretted it.

                    “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
                    • George KG Offline
                      George KG Offline
                      George K
                      wrote on last edited by
                      #249

                      "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.

                      1 Reply Last reply
                      • JollyJ Offline
                        JollyJ Offline
                        Jolly
                        wrote on last edited by
                        #250

                        In the real world, we would say Biden-Harris have been cooking the books.

                        Wonder how much effect this has on TG's beloved charts?

                        “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
                        • jon-nycJ Online
                          jon-nycJ Online
                          jon-nyc
                          wrote on last edited by
                          #251

                          Not everyone in the real is ignorant about the process. In fact I’d say there’s a decent overlap between those who pay attention to the revisions and those who understand how BLS works.

                          You were warned.

                          1 Reply Last reply
                          • JollyJ Offline
                            JollyJ Offline
                            Jolly
                            wrote on last edited by
                            #252

                            Maybe in your world...

                            “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
                            • JollyJ Jolly

                              In the real world, we would say Biden-Harris have been cooking the books.

                              Wonder how much effect this has on TG's beloved charts?

                              taiwan_girlT Offline
                              taiwan_girlT Offline
                              taiwan_girl
                              wrote on last edited by
                              #253

                              @Jolly said in Bidenomics At Work:

                              In the real world, we would say Biden-Harris have been cooking the books.

                              Wonder how much effect this has on TG's beloved charts?

                              If they were "cooking the books", why would they release revised numbers now? If it was something that the politicians had control over, releasing it at this time would point to the Republicans. LOL

                              About your second question. No difference. I am still waiting for someone to offer "measurable" proof that there are certain things that are consistently better under a Republic or Democrat president. :couple_with_heart:

                              1 Reply Last reply
                              • LuFins DadL Offline
                                LuFins DadL Offline
                                LuFins Dad
                                wrote on last edited by
                                #254

                                The Brad

                                1 Reply Last reply
                                • jon-nycJ Online
                                  jon-nycJ Online
                                  jon-nyc
                                  wrote on last edited by
                                  #255

                                  IMG_0249.jpeg

                                  You were warned.

                                  LuFins DadL 1 Reply Last reply
                                  • Doctor PhibesD Online
                                    Doctor PhibesD Online
                                    Doctor Phibes
                                    wrote on last edited by
                                    #256

                                    Who are you going to listen to, the OECD or some stoner on YouTube?

                                    I was only joking

                                    1 Reply Last reply
                                    • jon-nycJ jon-nyc

                                      IMG_0249.jpeg

                                      LuFins DadL Offline
                                      LuFins DadL Offline
                                      LuFins Dad
                                      wrote on last edited by
                                      #257

                                      @jon-nyc said in Bidenomics At Work:

                                      IMG_0249.jpeg

                                      King Cotton, baby!

                                      The Brad

                                      1 Reply Last reply
                                      • LuFins DadL Offline
                                        LuFins DadL Offline
                                        LuFins Dad
                                        wrote on last edited by
                                        #258

                                        Now excuse me while I make an emergency withdrawal from my 401K

                                        The Brad

                                        1 Reply Last reply
                                        • AxtremusA Offline
                                          AxtremusA Offline
                                          Axtremus
                                          wrote on last edited by
                                          #259

                                          https://www.reuters.com/markets/us/us-job-growth-surges-september-unemployment-rate-falls-41-2024-10-04/

                                          • Nonfarm payrolls increase by 254,000 in September
                                          • Unemployment rate falls to 4.1% from 4.2%
                                          • Average hourly earnings rise 0.4%; up 4.0% year-on-year
                                          • Average workweek slips to 34.2 hours from 34.3 hours
                                          JollyJ 1 Reply Last reply
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