So much for the claim that "presidents don't affect anything"

[jon-nyc]

It doesn't feel like it's dying from where I sit. I talked to the chief strategist at Merrill recently and they expect 7% yoy GDP growth. BofA - where 1/3 of US households have accounts - says that credit card receipts are up 20% from 2019. They expect capital spending to reach a 40 year high this year as more companies shift more of their product pipeline onshore.

I've taken 4 flights in the last 2 weeks and all four were full.

NY has dropped substantially all of its restrictions. Many other states are or have done so.

I talked to someone at Columbia Presbyterian today who said they've had zero new Covid admissions in 4 days. Zero.

It's nice outside right now. My kid's last day of school is today.

Cheer up.

[Larry]

You're talking about money. Money is still coasting off of what Trump did.

I'm talking about our country. The democrats have killed it.

So essentially, you don't even understand what I'm talking about

[jon-nyc]

Seems more alive here than any time in the last 15 months.

Ever thought about moving to NY?

[xenon]

Has Biden done... anything?

Honest question. I guess the stimulus checks were sent out again. That's all I know of.

[jon-nyc]

@xenon said in So much for the claim that "presidents don't affect anything":

Has Biden done... anything?

Apparently he killed America.

[Larry]

Are you both actually that ignorant about what's happening?

Jesus.

[Jolly]

The market is responding not only to much of the country going back to work, but also to the fact that inflation has become a serious problem. I think we could easily see 5% this year, probably more.

[Mik]

That is my worry, especially with an administration that has bought into MMT lock stock and barrel.

[xenon]

@mik said in So much for the claim that "presidents don't affect anything":

That is my worry, especially with an administration that has bought into MMT lock stock and barrel.

I know it's not fair - but the Republicans are supposed to be the adult in the room on the debt.

It's just not politically tenable for the Democrats to be more austere than the R's.

The last administration acted like the debt didn't exist.

[Mik]

Proposed $6T budget with no looming emergency.

[xenon]

@mik said in So much for the claim that "presidents don't affect anything":

Proposed $6T budget with no looming emergency.

Yeah - that's not good (and that's still proposed). If you translate that to deficits - the $6T turns to $1.3T yearly deficits over the next several years.

Trump was $1T in 2019, and $3T in 2020. Now let's ignore 2020, the Dem's deficit is only 30% more than the R's.

I'd put them in the same category of people who don't give a shit about the debt.

[xenon]

FWIW - the trend:

[xenon]

@xenon said in So much for the claim that "presidents don't affect anything":

FWIW - the trend:

Also - fair or not - I think Trump clearly wins the King of Debt crown. Only WW2 levels are higher. All other economic crisis's pale in comparison.

[Klaus]

@xenon said in So much for the claim that "presidents don't affect anything":

I think Trump clearly wins the King of Debt crown.

It's a simple algorithm:

Everything that was bad when Trump was president was because he inherited it from Obama.

Everything that was good when Trump was president was because he is a genius.

Everything that is bad while Biden is president is because he is an idiot.

Everything that is good while Biden is president is because he inherited it from Trump.

Do you understand?

[George K]

@klaus said in So much for the claim that "presidents don't affect anything":

It's a simple algorithm:

That applies to pretty much every president.

[Jolly]

@xenon said in So much for the claim that "presidents don't affect anything":

@xenon said in So much for the claim that "presidents don't affect anything":

FWIW - the trend:

Also - fair or not - I think Trump clearly wins the King of Debt crown. Only WW2 levels are higher. All other economic crisis's pale in comparison.

The U.S. has never voluntarily shut down its economy.

Bit different, don't you think?

[Larry]

Ok.......

This is why I get frustrated with some of you.

The POINT was that presidents obviously DO have an impact on thi us, and the claim that they don't is solidly proven at this point to be 100% wrong.

But instead of focusing on the POINT, the topic was immediately switched to a discussion about money. Now economics is a valid topic of discussion, but economics doesn't have a fucking thing to do with the POINT, nor does economics have anything to do with the democrat/"progressive"/cult that is ruining our cou try.

You even tried to say that I said Biden himself is ruining the country. Biden doesn't even remember where he shit last. He does what he's told. A political whore willing to sell the country out for personal gain.

When it's laid out in front of you as simple as I did it and you miss the point so completely, it just proves my point - it's too late to save the country. Half of the country is in a cult.

[LuFins Dad]

I’m all fairness, TG’s point has always been about the President’s impact on the stock market.

[xenon]

@jolly said in So much for the claim that "presidents don't affect anything":

@xenon said in So much for the claim that "presidents don't affect anything":

@xenon said in So much for the claim that "presidents don't affect anything":

FWIW - the trend:

Also - fair or not - I think Trump clearly wins the King of Debt crown. Only WW2 levels are higher. All other economic crisis's pale in comparison.

The U.S. has never voluntarily shut down its economy.

Bit different, don't you think?

I’m not saying it’s right or wrong. It just is.

[Jolly]

Reality without perception is illogical.