Biden's Economy?

[Binger]

I may or may not have made any trades, Binger.

Unlike Ajax, I don't have an oracle in the name of Donald J. Trump who can predict commodity prices months and years ahead.

Your comment followed the prediction that stock prices will triple or double. That prediction was made by K Graham, not by Donald J. Trump. You seem to have the only oracle and he is a liberal. So, invest Gad!

[Gadianton]

I am supposed to believe in the efficient market hypothesis, unfortunately, and so the possibility of future price movements along with all other market information is already baked into the current price.

Kevin is a liberal and so he can believe in wild market failures. As I've said, I'm not a liberal.

[Hawkeye]

Hey Kevin, when are we going to get to the sweet part of the results of 1/3/21 Georgia senate primaries that gifted full control to the Democrat party and their horrendous economic policies? Is that why you can never come back here as who you really are? Are you embarrassed of how wrong your economic forecasts have been? No of course not. You have no shame. You just put on a different mask and sell your supporters the same lies.

Not everyone is going to get COVID. I practice social distancing and get tested every week. You have blood on your hands for going back to work. If we just have a hard lock down, we can eradicate COVID. We could go on for three years of lockdowns. The economy is still running at 70%. There's plenty of money, no need for all of us to be working. And after feeding us these lies for the past three years you have the gaul to blame Trump for the economy your policies created!

Inflation is only temporary. People just need to calm the hell down.

Inflation has only hurt the 1%. It's made everyone else's life better.

This whole thread is so full of lies, no wonder you can't come back and admit you wrote them.


Bidenflation: Analysts Say Bed Bath & Beyond Turning Down A/C, Closing Early to Cut Costs

First inflation heated up. Now Bed Bath & Beyond stores may be hotter too.

Bed Bath and Beyond (BBBY) is cutting hours and scaling back on air conditioning as inflation persists, according to a note from analysts covering the company for Bank of America.




“From our channel checks and store visits, we believe that BBBY is trying to quickly trim expenses to align costs with comp declines,” the analysts said in a note to clients:

Labor hours have been meaningfully cut, utilities (e.g. air conditioning) have been scaled back and store opening hours will be reduced starting in July (e.g. open at 11am instead of 10am). Remodels are being cancelled or delayed. We expect mgmt. to announce more store closures and halt its buybuy BABY store openings (vs. consensus est. 21 this year per Visible Alpha). BBBY‘s Beyond+ rewards program is being replaced with “Welcome Rewards.“

In April, the company was unable to resolve supply problems in its final quarter, saying the issues would continue into the upcoming year, according to the Associated Press (AP).

“It also reported a surprise loss in a quarter when many other retailers booked surging profits,” the outlet said. “The retailer has been unable to secure popular merchandise and it’s dragging down sales. For the three months ended Feb. 26, sales fell 22% to $2.05 billion.”


In May, Best Buy shared its first-quarter results, revealing shoppers decided to hold onto their money “while higher costs ate into profits,” according to the AP.

The company did well during the coronavirus pandemic as consumers bought tech equipment for home offices or for their children’s virtual classes.

“But like many retailers, Best Buy is struggling with rising costs for everything from labor to shipping,” the report continued. “And soaring fuel costs and the return of promotions are hurting its bottom line.”

Meanwhile, pro-Joe Biden Hollywood was also suffering as the price of movie and television production rose, and industry leaders reportedly said inflation was affecting nearly every aspect of the business.

“Inflation is so bad in Hollywood that NBCUniversal is trying to economize by clustering filming locations and taking advantage of ‘volume discounts with key vendors,’ according to Mark Binke, executive vice president of production at the Comcast-owned studio,” Breitbart News reported.

https://www.breitbart.com/politics/2022 ... cut-costs/

[Binger]

Bidenflation: Analysts Say Bed Bath & Beyond Turning Down A/C, Closing Early to Cut Costs

Turning down the AC? They can change the temperature of the air but they can't reduce the volume of the air much. There is a minimum required amount of air changes and a minimal requirement for outside air changes. Additionally, there are some rooms that have differential pressure requirements. These are standard requirements and failure to meet those requirements may be a work safety and health hazard.

I doubt that this headline is accurate. No retailer could be so damn dumb as to tell customers and employees that they were whacking the AC. Breitbart may have jumped on this one without snopesing the facts.

[Vēritās]

Hey Kevin, when are we going to get to the sweet part of the results of 1/3/21 Georgia senate primaries that gifted full control to the Democrat party and their horrendous economic policies?

The Democrats don't control anything, and only a disingenuous hack would keep asserting otherwise. Why do you keep hopping back and forth between threads, just to keep dodging questions and all the evidence that demolishes your silly arguments?

Is that why you can never come back here as who you really are? Are you embarrassed of how wrong your economic forecasts have been? No of course not. You have no shame. You just put on a different mask and sell your supporters the same lies.

I came back at the behest of others who likely were just sick of seeing your dumb crap go unchallenged.

Not everyone is going to get COVID. I practice social distancing and get tested every week. You have blood on your hands for going back to work. If we just have a hard lock down, we can eradicate COVID. We could go on for three years of lockdowns. The economy is still running at 70%. There's plenty of money, no need for all of us to be working. And after feeding us these lies for the past three years you have the gaul to blame Trump for the economy your policies created!

Are you done making up crap?

Inflation is only temporary. People just need to calm the hell down.

Of course it is temporary. No inflation is permanent. It began under Trump and is primarily because of Trump. This has been proven over and over.

Inflation has only hurt the 1%. It's made everyone else's life better. /

More lies. I said inflation doesn't affect everyone equally and yes, it is a demonstrable that a large segment of the population with debt will benefit from it. So? If you want to address the argument then go for it, but I think we both know you don't have the intellectual stamina to keep up with anything I argue on economics. All you do is here is cut and paste something from Brietbart and then flee the scene once I or someone else demonstrates how it is all BS.

This whole thread is so full of lies, no wonder you can't come back and admit you wrote them.

Says the guy who keeps starting new threads repeating the same stupid crap that I and others have repeatedly debunked.

Bidenflation: Analysts Say Bed Bath & Beyond Turning Down A/C, Closing Early to Cut Costs

"Bidenflation" doesn't exist, and we've already made you look like a silly little dweeb on this issue. Farms filed bankruptcy at a record rate during Trump, and more than 100 oil companies closed up shop under his watch. But you're worried about BB&B?

Thanks for resurrecting this thread. I'll be sure to keep posting future economy related posts here just to piss you off.

[Vēritās]

2021-08-02-supply-chain-article-chart1.jpg

Inflation is something like 8% now year over year. In Trump's final year it was already heading north quickly as you can see from the chart, but what I want to address is the kinds of inflation. What people notice more than anything is the cost of gasoline. Not only because it has nearly doubled but because we're constantly reminded of it whenever we drive by a gas station. But how much money are we really talking about here?

Consider the math. The Average American drives around 14,000 miles in a year and the avg car gets about 25 MPG. So at $2.85/gallon (before Biden took office) gasoline accounts for roughly $1,596 in annual expenses, whereas now at $4.44/gallon it accounts for roughly $2,486. That's a whopping difference of just $890. The hilarity of this is that is far less than the $1,400 stimulus checks we got with Trump's signature on them. So yeah, some people need to calm down and stop freaking out.

Wage growth for May 2022 was 6.2% higher than it was May 2021. That means someone with a lower income of $30,000 now has an extra $1,860 to cover all their inflationary costs. Someone with an income of $80,000 has an extra $5,000. With inflation at 8.4% and wage growth averaging 6.2%, that's still falling short by 2.2% on average, but like I said it all depends on what kind of job you have and what you're buying.

Why? Because not everyone pays the same amount of inflation and not everyone has the same wage growth. In fact, the leisure and hospitality sector has seen wages surpass the rate of inflation whereas high skill jobs that require a college degree see only a 5% increase in wages.

So from that perspective, yes, lower income workers who have debt are benefiting from this period of inflation.

Moreover, because gasoline and used car prices factor into that 8.4% average, if you're not buying a used car and drive an EV, then inflation for you isn't 8.4% but is probably closer to 5%.

[Res Ipsa]

Veritas, you’re ignoring the effect of increased Gas and oil prices on other goods and services, including utilities.

[Vēritās]

Veritas, you’re ignoring the effect of increased Gas and oil prices on other goods and services, including utilities.

Yes, naturally all goods require logistics and that involves transportation costs which gets passed on to the consumer, but I was using the cost of gas as an example since that's what everyone seems to be focused on the most. The $890 wasn't mean to suggest that is all they pay for inflation, only that that is their increased cost at the pump for the year. Inflation isn't always bad, and for some it is good. And even during this time of high inflation only two thirds of workers say their wage increases haven't kept pace with inflation. The rest are either unaffected or their wages surpassed inflation.

lh.jpg

[Vēritās]

This is awesome, a harbinger for what's to come...

DOE Report Finds Energy Jobs Grew Faster Than Overall U.S. Employment in 2021

Sectors with notable job growth

Electric vehicle jobs increased by 26.2%, adding 21,961 new jobs.
Hybrid electric vehicle jobs increased 19.7%, adding 23,577 new jobs.
Solar energy jobs increased by 5.4%, adding 17,212 new jobs.
Wind energy jobs increased by 2.9%, adding 3,347 new jobs.
Energy efficiency jobs increased by 2.7%, adding 57,741 new jobs.
Transmission, distribution, and storage jobs increased by 1.9%, adding 22,779 new jobs.

[Vēritās]

I'm on pins and needles waiting to find out what Brietbart is going to say next.