Uncle Joe

[Shirley]

Robert Reich had some, uh, interesting comments on the economy recently

^^^

I have to resist posting his videos too often, lest it trigger our esteemed supply sider, don't dare call it "trickle down", friend.

[twocoach]

Two weeks from now, right?

[Shirley]

lol

[jfish26]

Two weeks from now, right?

Always.

[jfish26]

Oh No! Looks like Biden's in trouble now:

Inflation is falling so fast, companies will no longer be able to increase their prices like they have been!

Morgan Stanley’s Mike Wilson warned that, while investors have been cheering data showing easing inflation, disinflationary pressures are now turning into a headwind for the market.

“Falling inflation will cause a downside surprise on top-line revenues as pricing power is diminished, especially for the goods economy,” wrote Wilson, the bank’s chief U.S. equity strategist.

It’s all so cynical. If Biden and Harris were to get hit by a truck today, and McCarthy became president, then by Tuesday of next week we’d be hearing about how the new republican administration has brought down inflation in record time.

To wit.

Opinion | Republicans who fought Biden’s agenda now claim credit for it

https://www.washingtonpost.com/opinions ... x-credits/

It’s the first week of summer recess for Congress, time for lawmakers to meet constituents at a picnic, fly off on a junket with colleagues or, for some, to take credit for things they voted against.

Sen. John Cornyn (R-Tex.) visited the massive Tesla plant in his home state, met with the company’s raving CEO, Elon Musk, sat in a Tesla Cybertruck prototype and tweeted out the photos below.

“Everything is bigger in the Lone Star State including @Tesla’s Gigafactory Texas — the 2nd largest manufacturing facility in the U.S.!” he trumpeted. “Tesla’s impressive facility employs 10k Texans & is one of the many reasons why TX is leading in job creation.”

Omitted from Cornyn’s tweet: That he fought bitterly against the clean-energy tax credits that directly prompted Tesla to boost its U.S. manufacturing. Tesla’s current expansion in U.S. output includes a massive new investment at the very plant Cornyn toured and touted.

[jfish26]

[randylahey]

This must be part of bidens great economy. The us credit score going down

[defixione]

Your credit score also goes down when you tell your creditors you are thinking about not paying them. See Republican house of Representatives, 2023.

[KUTradition]

it’s like he doesn’t even pay attention to what is actually happening in this country until his social media feed gets outraged

[KUTradition]

https://www.reuters.com/markets/us/jpmo ... 20pace.%22

[jfish26]

Your credit score also goes down when you tell your creditors you are thinking about not paying them. See Republican house of Representatives, 2023.

You're telling me that when one party holds the full faith and credit of the United States hostage over what happens between people's legs, our lenders might notice???

[Overlander]

This must be part of bidens great economy. The us credit score going down

Did Biden forget to tell you to pay your fucking bills?

[randylahey]

Ah of course, I should have considered that it was all only the Republicans fault yet again

[randylahey]

And I'm sure the devaluation of the American dollar, and so many countries switching away from the American dollar, has nothing to do with it

[jfish26]

Ah of course, I should have considered that it was all only the Republicans fault yet again

Why speak in absolutes?

(I know why - it’s because you know the problem here was much MORE one side than the other, and so what you’re left with is…forcing critics to prove a negative.)

[randylahey]

Ah of course, I should have considered that it was all only the Republicans fault yet again

Why speak in absolutes?

(I know why - it’s because you know the problem here was much MORE one side than the other, and so what you’re left with is…forcing critics to prove a negative.)

Because I'm a sith lord..

Come in jfish. Anyone who isn't blindly obedient to their "team" knows both teams are to blame for virtually every problem this country has

This whole "the Republicans are to blame for everything and the dems are saints" argument you always have is fucking stupid. Expand your thinking. The whole system is rotten at the core

[twocoach]

it’s like he doesn’t even pay attention to what is actually happening in this country until his social media feed gets outraged

This. I hadn't heard one peep out of Randy about factory farming until RFKJr. told him it was a big deal.

[jfish26]

Ah of course, I should have considered that it was all only the Republicans fault yet again

Why speak in absolutes?

(I know why - it’s because you know the problem here was much MORE one side than the other, and so what you’re left with is…forcing critics to prove a negative.)

Because I'm a sith lord..

Come in jfish. Anyone who isn't blindly obedient to their "team" knows both teams are to blame for virtually every problem this country has

This whole "the Republicans are to blame for everything and the dems are saints" argument you always have is fucking stupid. Expand your thinking. The whole system is rotten at the core

Again, your issues with topicality.

The question isn’t “what is the main problem with American politics.” It’s “why did Fitch downgrade our credit rating.”

And the answer is the debt brinksmanship…which simply is an R problem.

[TDub]

Why speak in absolutes?

(I know why - it’s because you know the problem here was much MORE one side than the other, and so what you’re left with is…forcing critics to prove a negative.)

Because I'm a sith lord..

Come in jfish. Anyone who isn't blindly obedient to their "team" knows both teams are to blame for virtually every problem this country has

This whole "the Republicans are to blame for everything and the dems are saints" argument you always have is fucking stupid. Expand your thinking. The whole system is rotten at the core

Again, your issues with topicality.

The question isn’t “what is the main problem with American politics.” It’s “why did Fitch downgrade our credit rating.”

And the answer is the debt brinksmanship…which simply is an R problem.

its not though.

Yes the pubs held up the process by refusing to raise the debt ceiling again...

but the out of control spending, the printing money out of thin air f
to cover ridiculous things...

is a both sides problem. And that issue...is why we have to constantly raise the debt ceiling and is why the value of the dollar diminishes.

[zsn]

And that issue...is why we have to constantly raise the debt ceiling and is why the value of the dollar diminishes.

Is it though? The value of the dollar is quite high, relative to most currencies (EUR, GBP, JPY, CNY, INR) and is at a recent high. The only exception is CHF.

Not too long ago, we were at $1.25 to EUR, $1.50 relative to GBP, 110 JPY and low 70s to INR. Now it’s $1.10 to EUR, $1.25 to GBP, 145 JPY and low 80s INR.

While some of it is the relative weakness of their economies, it’s objective evidence that our weakness is only a talking point.