Why are Americans so down on the economy when Joe Biden's own statisticians say their boss is doing a fine job? Recently the Wall Street Journal published a 3000 word essay on that very question -- that's 10 pages paperback. Note the Journal has been among Joe Biden's most loyal cheerleaders, so one might read this as almost an apology.
Yeah, I don’t believe you either. Biden is no hero to all, but he’s so far above the crap Trump put us through. These “fake” numbers use the exact same calculations Trump used for 4 years. At least there is job growth, Trump was the only President to lose more jobs than he created. You’re the one who’s cherry picking data by not considering the alternative. Trump nearly destroyed this country, yet he’ll praise himself as the only true savior of America. Trump added more debt than any President in our history…by trillions. Biden is at least decreasing the deficit. Plus, if you disagree with Biden….so be it. It’s literally okay to disagree with him. He’ll still work with those who don’t see things the same way. Disagree with Trump? Traitorous, instant RINO, expelled and ridiculed by the Party…insufficiently loyal to the man who has a choke hold on democracy. He demands loyalty to him and it’s a one-way street. The crimes he’s committed, the fraud he’s perpetrated for decades…the porn stars he’s “grabbed”, the Miss America contestants he’s “examined” as property. Trump is not a good person. He’s not even a decent human being. He’s bankrupted hundreds of small businesses by stiffing, then suing them into oblivion. He’s lost more money than any other businessman in our country (over the span of his career). 6 bankruptcies while reporting his condo as 3 times the square footage (then trying to claim the elevator’s as living space). There’s so much the Fox News’ of the world won’t let you learn about. They treat him like the true American Idol…worship the man like he’s a god. He is the narcissist of narcissists…and it’s all okay to overlook. Nothing to see here folks….move along, move along. Trump is only capable of tearing us apart, he thrives on creating division, hatred and lie after lie after lie. Harp on Biden and the “fake” numbers all you want. He’s not the solution to all of our problems, but he’s so far above the low bar that Trump lives under. It’s horrifying that you bow down to a man who can only spread hatred, at all times. It’s all he talks about…he ridicules and slanders and spews vitriol. Yet, you still worship him like he’s the only solution to all of our many problems. It’s sad and it’s not a winning strategy…read the tea leaves. Since Trump took over the Republican Party, you keep losing. Trump is incapable of building up others…he’s a master of tearing down everything in his orbit. He’s incapable of bipartisanship in any form…narcissists can’t do anything unless it serves themselves. Americans are more than the Republican Party, so in order to see true growth and success, you’ll need to learn to work across the aisle. That will never, ever happen while Trump is your so-called leader.
"gaslit by a regime that's given up on serving the people."
Given up on serving the people?
If anyone, anyone at all, believes in this system for even a moment these days, then I don't know what to tell ya....
This system never was intended to help anyone but those that created it, administer it and grow it.
Service to the people was never part of the bargain, rather it is this concept of service of the people was carefully crafted to convince the people of a false benevolence.
Political systems have always been throughout world history, merely a means to make people think they have a say in their destiny as their pockets are picked, their lives enslaved and their utility to the state reduced to that of cattle.
Thinking back to the economics classes that I took at university, they all seemed so clearcut. But after over 40 years being out of school, my indicators are the following: 1. how much do groceries cost? 2. how much does it cost to eat out with my wife? We bought 2 bags of groceries the other day and it cost over $200. Before Biden it was $100. It used to cost us $35 to eat out at our local café for lunch, and now it cost $70. So we can see in our daily life how inflation is ruining the world for us, and for our children and our grandchildren. Heck, buying houses is insane, my first house cost $74,000, now houses in Oregon average $450,000. My youngest son cannot afford this, which really upsets me, because I want him to get married ,have kids, and have a house.
Biden’s insistence that the economy is doing great is an insult to Americans…. To quote from Jillian Michaels’ rant to Bill Maher “ go buy some f***king eggs! “
Well stated. Like we are suddenly supposed to think that Trump is not going to lie to us? If things are skewed, then it’s most likely a government administrative thing and I seriously doubt that Biden has his hands directly in all of it. That is something Trump would do…
Interesting that the automatic flex in many replies is to ignore what's said in this write up and just spout, Trump! Trump bad! Instead of dealing with the here and now, they travel back in time to, Trump!
TDS blinds all to the continual degradation of our Society. They drive past the tents and refuse that is the drug camps in our cities. They ignore the rampant crime, and rising murder rates in Cities that at one time had an almost zero murder rate. They push policy that makes life more expensive for every one, and think, life is all good, cause Trump isn't president.
They can push all the rosy stats they want on the economy. They can point at the market and pat themselves on the back.
But most Americans don't look at the economy in a silo. They see the open border, they see billions sent over seas and nothing for the Citizens. Billions spent on Illegal immigrants and nothing for the Citizens. Homelessness exploding, addiction, suicides, over doses gutting our younger generations. And from City to State to the Federal Gvt, more money goes to Foreigners and nothing for the Citizens.
The citizens are asked, 'If gas is too expensive, why don't you buy a 60K EV?' And that doesn't cover the expense of the power station that you need to install in your home, if you are lucky enough to even own a home.
The average US citizen may be employed, but we still can not afford the cake.
Hi Peter - love your Weekly Roundups. Would you be able to point me in the direction of the source data for the inflation figures you provided in the 19th Feb Weekly - Episode 44 on Spotify. Thanks so much for your brilliant insights!
Love to hear your position on MMT, specifically with regard to Stephanie Kelton’s work. Or at least help us understand how anyone can find utility in any of the theory.
Since when was WSJ a Biden cheerleader? That’s news to many of us. Calling statistics 📉 that you don’t agree with or not palatable to your ideological leaning or even partisanship a lie is not analysis 🧐.
Maybe it’s high time many of these skewed polls start asking people like me and other balanced observers of macro trends, who are very satisfied with the current administration’s economic accomplishments under difficult circumstances including the legacy of mismanagement inherited from the chaotic Trump years.
Interesting that you can put two noble prize winning economists in the same room with totally different takes on the economy regardless of what state it's really in. Why? Because it's as hyper complex as the surreal human world we have created and humans are complex and the environment aka nature is hyper complex and it all is interconnected. Maybe some day soon with the assistance of super AI computers we will a better picture of what is exactly going on but until then, like Psychology - Economics is a a quasi-science. I remember reading the book the Black Swan by now famous and once Wall Street quant for hire Nicholas Taleb, who said that 'a monkey throwing darts would be as valid as any advice/guidance from any Wall Street expert.' Wall Street is a perversion of logic because there is none. It's a rigged Casino Ponzi Scheme and the house always wins. No economist can explain what a derivative is so a child could understand it, which according to Einstein it the litmus test for any concept. Or if they are honest they will tell you it's a sophisticated shell game. Bottom line is materialist greed is the disease destroying everything - societies and the Mother Nature herself. Until the top 1% start paying a decent wage and are forced to pay their fair share share of taxes for social safety nets aka Democratic Socialism - nets which are necessary in any capitalistic system where 90% of all businesses fail in the first 5 years! Redistribute the wealth made through convoluted means and allow the hard working people a decent wage-quality of life and see how our society could actually live in harmony and be content as in the USA platitude - Life Liberty and the pursuit of Happiness!
Would you consider an analysis of today, they are killing us and incarcerating us and there is a solution at hand. 1) are you related to Julie St. Onge USMC?
Do you writers and readers hope to return to a Constitutional republican form of government or not? Do you acquiesce to evil, do you permit infringements on your unalienable rights granted by God?
Never mind the bullshit!! We have heard it all before, read it, written it. We are living it and we are doing it to us. Bell curve anyone?
Mindset!! Nomenclature!! Definitions and the proper source for your definitions!!. Assume the mantel of a man or woman with our progeny. Your provenance, unique on Earth, from the unanimous Declaration of the thirteen united States of America, read the opening paragraph again When in the Course of human events, it becomes necessary for one people to
(1) dissolve the political bands which have connected them with another, and
(2) to assume among the powers of the earth, the separate and equal station to which the Laws of Nature and of Nature's God entitle them, a decent respect to the opinions of mankind requires that they should
(3) declare the causes which impel them to the separation. 1776; the 1777 Confederation and perpetual Union's articles styled The United States of America's Constitution 1859 prior to 1861. The United States of Washington District of Columbia Inc. is the de facto. We are sovereign (see https://www.1215.org/lawnotes/bouvier/bouvier.htm ) all of us are Sovereign. Only us and kings, other governments. See also de facto and de jure page 416 Black's 6th edition) illegal and illegitimate. They changed the definition in Blacks 11th edition.
So, only you can obtain and hold the mindset, no one can do it for you; we cannot do it alone. Use the proper names for everything and spell it out. Then definitions: Bouvier 1856 is the only Constitutional dictionary. We have Black's 1st edition 1891, 4th, 5th, 6th 1991, 11th current. Words are important, use them correctly, as best as you can.
The solution is written out, read and follow the prompts, no interpretation needed. We have the documents, close enough, we have the dictionaries, good enough, now for the mindset. the initial conversion to implementing your move to the III%. Then the perseverance and determination to see it through www.orsja.org.
Another good piece Peter.
So much of our "economics" is nonsense.
The Government is NOT a wise spender, savvy investor or in any way structurally incentivized to do anything but SPEND.
The Gov spends to expand its radius, and earn larger returns in the next financial year.
Now we're importing the lowest economic value migrants possible to:
1) bulk the census
2) increase surface area for Gov entitlements
3) turn purple states blue, and turn red states purple
We see it all very, very clearly now.
This "inflation" is also a cruel joke -- intentionally inflamed by the Elite.
Forced transfer of wealth from savers + the Future to the Net Present Value of today's asset owners... aka the Elite.
The Elite are global, they have more in common with fellow Elite in the next country over than their own countrymen.
Yeah, I don’t believe you either. Biden is no hero to all, but he’s so far above the crap Trump put us through. These “fake” numbers use the exact same calculations Trump used for 4 years. At least there is job growth, Trump was the only President to lose more jobs than he created. You’re the one who’s cherry picking data by not considering the alternative. Trump nearly destroyed this country, yet he’ll praise himself as the only true savior of America. Trump added more debt than any President in our history…by trillions. Biden is at least decreasing the deficit. Plus, if you disagree with Biden….so be it. It’s literally okay to disagree with him. He’ll still work with those who don’t see things the same way. Disagree with Trump? Traitorous, instant RINO, expelled and ridiculed by the Party…insufficiently loyal to the man who has a choke hold on democracy. He demands loyalty to him and it’s a one-way street. The crimes he’s committed, the fraud he’s perpetrated for decades…the porn stars he’s “grabbed”, the Miss America contestants he’s “examined” as property. Trump is not a good person. He’s not even a decent human being. He’s bankrupted hundreds of small businesses by stiffing, then suing them into oblivion. He’s lost more money than any other businessman in our country (over the span of his career). 6 bankruptcies while reporting his condo as 3 times the square footage (then trying to claim the elevator’s as living space). There’s so much the Fox News’ of the world won’t let you learn about. They treat him like the true American Idol…worship the man like he’s a god. He is the narcissist of narcissists…and it’s all okay to overlook. Nothing to see here folks….move along, move along. Trump is only capable of tearing us apart, he thrives on creating division, hatred and lie after lie after lie. Harp on Biden and the “fake” numbers all you want. He’s not the solution to all of our problems, but he’s so far above the low bar that Trump lives under. It’s horrifying that you bow down to a man who can only spread hatred, at all times. It’s all he talks about…he ridicules and slanders and spews vitriol. Yet, you still worship him like he’s the only solution to all of our many problems. It’s sad and it’s not a winning strategy…read the tea leaves. Since Trump took over the Republican Party, you keep losing. Trump is incapable of building up others…he’s a master of tearing down everything in his orbit. He’s incapable of bipartisanship in any form…narcissists can’t do anything unless it serves themselves. Americans are more than the Republican Party, so in order to see true growth and success, you’ll need to learn to work across the aisle. That will never, ever happen while Trump is your so-called leader.
Illegally importing.
"gaslit by a regime that's given up on serving the people."
Given up on serving the people?
If anyone, anyone at all, believes in this system for even a moment these days, then I don't know what to tell ya....
This system never was intended to help anyone but those that created it, administer it and grow it.
Service to the people was never part of the bargain, rather it is this concept of service of the people was carefully crafted to convince the people of a false benevolence.
Political systems have always been throughout world history, merely a means to make people think they have a say in their destiny as their pockets are picked, their lives enslaved and their utility to the state reduced to that of cattle.
Cattle are for milking and eating, nothing more.
Thank you. I love your analysis. It pleases me to read verified and illustrated information. Keep up the great work. It is appreciated.
A wonderful summation of the present state of things.
Thinking back to the economics classes that I took at university, they all seemed so clearcut. But after over 40 years being out of school, my indicators are the following: 1. how much do groceries cost? 2. how much does it cost to eat out with my wife? We bought 2 bags of groceries the other day and it cost over $200. Before Biden it was $100. It used to cost us $35 to eat out at our local café for lunch, and now it cost $70. So we can see in our daily life how inflation is ruining the world for us, and for our children and our grandchildren. Heck, buying houses is insane, my first house cost $74,000, now houses in Oregon average $450,000. My youngest son cannot afford this, which really upsets me, because I want him to get married ,have kids, and have a house.
Biden’s insistence that the economy is doing great is an insult to Americans…. To quote from Jillian Michaels’ rant to Bill Maher “ go buy some f***king eggs! “
Well stated. Like we are suddenly supposed to think that Trump is not going to lie to us? If things are skewed, then it’s most likely a government administrative thing and I seriously doubt that Biden has his hands directly in all of it. That is something Trump would do…
Interesting that the automatic flex in many replies is to ignore what's said in this write up and just spout, Trump! Trump bad! Instead of dealing with the here and now, they travel back in time to, Trump!
TDS blinds all to the continual degradation of our Society. They drive past the tents and refuse that is the drug camps in our cities. They ignore the rampant crime, and rising murder rates in Cities that at one time had an almost zero murder rate. They push policy that makes life more expensive for every one, and think, life is all good, cause Trump isn't president.
They can push all the rosy stats they want on the economy. They can point at the market and pat themselves on the back.
But most Americans don't look at the economy in a silo. They see the open border, they see billions sent over seas and nothing for the Citizens. Billions spent on Illegal immigrants and nothing for the Citizens. Homelessness exploding, addiction, suicides, over doses gutting our younger generations. And from City to State to the Federal Gvt, more money goes to Foreigners and nothing for the Citizens.
The citizens are asked, 'If gas is too expensive, why don't you buy a 60K EV?' And that doesn't cover the expense of the power station that you need to install in your home, if you are lucky enough to even own a home.
The average US citizen may be employed, but we still can not afford the cake.
Hi Peter - love your Weekly Roundups. Would you be able to point me in the direction of the source data for the inflation figures you provided in the 19th Feb Weekly - Episode 44 on Spotify. Thanks so much for your brilliant insights!
Love to hear your position on MMT, specifically with regard to Stephanie Kelton’s work. Or at least help us understand how anyone can find utility in any of the theory.
Since when was WSJ a Biden cheerleader? That’s news to many of us. Calling statistics 📉 that you don’t agree with or not palatable to your ideological leaning or even partisanship a lie is not analysis 🧐.
Maybe it’s high time many of these skewed polls start asking people like me and other balanced observers of macro trends, who are very satisfied with the current administration’s economic accomplishments under difficult circumstances including the legacy of mismanagement inherited from the chaotic Trump years.
Interesting that you can put two noble prize winning economists in the same room with totally different takes on the economy regardless of what state it's really in. Why? Because it's as hyper complex as the surreal human world we have created and humans are complex and the environment aka nature is hyper complex and it all is interconnected. Maybe some day soon with the assistance of super AI computers we will a better picture of what is exactly going on but until then, like Psychology - Economics is a a quasi-science. I remember reading the book the Black Swan by now famous and once Wall Street quant for hire Nicholas Taleb, who said that 'a monkey throwing darts would be as valid as any advice/guidance from any Wall Street expert.' Wall Street is a perversion of logic because there is none. It's a rigged Casino Ponzi Scheme and the house always wins. No economist can explain what a derivative is so a child could understand it, which according to Einstein it the litmus test for any concept. Or if they are honest they will tell you it's a sophisticated shell game. Bottom line is materialist greed is the disease destroying everything - societies and the Mother Nature herself. Until the top 1% start paying a decent wage and are forced to pay their fair share share of taxes for social safety nets aka Democratic Socialism - nets which are necessary in any capitalistic system where 90% of all businesses fail in the first 5 years! Redistribute the wealth made through convoluted means and allow the hard working people a decent wage-quality of life and see how our society could actually live in harmony and be content as in the USA platitude - Life Liberty and the pursuit of Happiness!
Would you consider an analysis of today, they are killing us and incarcerating us and there is a solution at hand. 1) are you related to Julie St. Onge USMC?
Do you writers and readers hope to return to a Constitutional republican form of government or not? Do you acquiesce to evil, do you permit infringements on your unalienable rights granted by God?
Never mind the bullshit!! We have heard it all before, read it, written it. We are living it and we are doing it to us. Bell curve anyone?
Mindset!! Nomenclature!! Definitions and the proper source for your definitions!!. Assume the mantel of a man or woman with our progeny. Your provenance, unique on Earth, from the unanimous Declaration of the thirteen united States of America, read the opening paragraph again When in the Course of human events, it becomes necessary for one people to
(1) dissolve the political bands which have connected them with another, and
(2) to assume among the powers of the earth, the separate and equal station to which the Laws of Nature and of Nature's God entitle them, a decent respect to the opinions of mankind requires that they should
(3) declare the causes which impel them to the separation. 1776; the 1777 Confederation and perpetual Union's articles styled The United States of America's Constitution 1859 prior to 1861. The United States of Washington District of Columbia Inc. is the de facto. We are sovereign (see https://www.1215.org/lawnotes/bouvier/bouvier.htm ) all of us are Sovereign. Only us and kings, other governments. See also de facto and de jure page 416 Black's 6th edition) illegal and illegitimate. They changed the definition in Blacks 11th edition.
So, only you can obtain and hold the mindset, no one can do it for you; we cannot do it alone. Use the proper names for everything and spell it out. Then definitions: Bouvier 1856 is the only Constitutional dictionary. We have Black's 1st edition 1891, 4th, 5th, 6th 1991, 11th current. Words are important, use them correctly, as best as you can.
The solution is written out, read and follow the prompts, no interpretation needed. We have the documents, close enough, we have the dictionaries, good enough, now for the mindset. the initial conversion to implementing your move to the III%. Then the perseverance and determination to see it through www.orsja.org.