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The New Coffee Room

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  3. Bidenomics At Work

Bidenomics At Work

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  • 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 Away
      AxtremusA Away
      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 Offline
                            Doctor PhibesD Offline
                            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 Away
                                  AxtremusA Away
                                  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
                                  • AxtremusA Axtremus

                                    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 Offline
                                    JollyJ Offline
                                    Jolly
                                    wrote on last edited by
                                    #260

                                    @Axtremus said in Bidenomics At Work:

                                    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

                                    I'll wait until after November when they adjust the numbers to pass judgement...

                                    “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

                                    George KG 1 Reply Last reply
                                    • JollyJ Jolly

                                      @Axtremus said in Bidenomics At Work:

                                      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

                                      I'll wait until after November when they adjust the numbers to pass judgement...

                                      George KG Offline
                                      George KG Offline
                                      George K
                                      wrote on last edited by
                                      #261

                                      @Jolly said in Bidenomics At Work:

                                      I'll wait until after November when they adjust the numbers to pass judgement...

                                      Revision is within the margin of error.

                                      "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
                                      • LuFins DadL Offline
                                        LuFins DadL Offline
                                        LuFins Dad
                                        wrote on last edited by
                                        #262

                                        Thank you, Brian J Foley, for pointing out that the nearly 1,000,000 jobs revised downward is less than 1% of the total number of jobs. Your 1 follower has truly been blessed by your wisdom.

                                        The Brad

                                        1 Reply Last reply
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