Biden's Economy?

[Res Ipsa]

So we're already producing more than we were pre-pandemic, but the issue with inflation is that consumption has been shooting through the roof. Kinda weird for all these people to be spending money at a record rate when we're supposed to be in a depression, or whatever Brietbart says.


299476794_10159332561183650_1658771711898191509_n.jpg

Do you have a link to that graph or a copy of the legend. It’s not clear exactly what is being measured.

[Vēritās]

So we're already producing more than we were pre-pandemic, but the issue with inflation is that consumption has been shooting through the roof. Kinda weird for all these people to be spending money at a record rate when we're supposed to be in a depression, or whatever Brietbart says.


299476794_10159332561183650_1658771711898191509_n.jpg

Do you have a link to that graph or a copy of the legend. It’s not clear exactly what is being measured.

Hope this helps

https://cepr.org/voxeu/columns/demand-s ... cal-policy

[Res Ipsa]

Do you have a link to that graph or a copy of the legend. It’s not clear exactly what is being measured.

Hope this helps

https://cepr.org/voxeu/columns/demand-s ... cal-policy

Perfect, thanks.

[honorentheos]

I'd be careful with a graph that doesn't use compare same quarters year-to-year. I'd want to know why they used Q4 2019 and guess it's a decision meant to show productivity and consumption are above pre-pandemic levels. But end of year non-farm production isn't a good baseline.

Here's the Bureau of Labor Statistics noting non-farm business labor productivity had it's biggest decline on record in Q2 of this year compared to Q2 2021 while manufacturing was up. Wages were up but buying power was down.

In short, things are weird reflecting corrections in multiple vectors. I don't think it's fair to say anyone really knows where things are headed or has explanations. My guesses are the same mysterious factors depressing wage growth and inflation through the 2010s inverted. Wage suppression was an issue and labor shortages from both the pandemic and culture shifts forced that to catch up fast, as one factor.

https://www.bls.gov/news.release/prod2.nr0.htm

[Doctor Steuss]

Number fun, for oil/gas.

Total US Rig Counts

Gas Rigs 1/20/2021: 88
Gas Rigs Today: 160

Oil Rigs 12/31/2021: 378
Oil Rigs Today: 601


Thank you, Coolidge.

[Doctor CamNC4Me]

Number fun, for oil/gas.

Total US Rig Counts

Gas Rigs 1/20/2021: 88
Gas Rigs Today: 160

Oil Rigs 12/31/2021: 378
Oil Rigs Today: 601


Thank you, Coolidge.

What do those stats mean to you? I’m not following, unfortunately.

And also this:

https://www.ksl.com/article/50459801/White House ... -inflation

The U.S. Census Bureau's advanced estimate of July sales volumes for retail goods and food services found consumer spending hit almost $683 billion for the month, essentially matching the sales total for June but an increase of 10.3% over July 2021.

- Doc

[canpakes]

Number fun, for oil/gas.

Total US Rig Counts

Gas Rigs 1/20/2021: 88
Gas Rigs Today: 160

Oil Rigs 12/31/2021: 378
Oil Rigs Today: 601


Thank you, Coolidge.

What do that stats mean to you? I’m not following, unfortunately.

We’re ‘drill baby drilling’. The operating rig count is up 262 from the same time last year. Because, Biden has (according to ajax) banned fracking and is outlawing oil.

https://rigcount.bakerhughes.com/

[canpakes]

I recommend that the person who created that graphic should check out this page:

https://en.m.wikipedia.org/wiki/Kerning

[Doctor Steuss]

What do those stats mean to you? I’m not following, unfortunately.

To me?

It's just another interesting data point that throws a wrench in the wheel of "High gas prices are because Biden (*cue peel of thunder*) is actively inhibiting domestic production."

Still well below pre-COVID, but hardly indicative of a successful liberal plot to sabotage oil. At least outside of the "evil genius morons that are smart but dumb but smart... but dumb" model.

It's almost as if global markets are... global.

<Snip GoT Pic>

I can't decide if this is saying Biden is extra 2nd Amendment, or if it's meant to reference his uniting the Six-Bill kingdoms.

[ajax18]

How many predict the inflation reduction act will reduce inflation? How many are like Veritas and willing to admit higher inflation was the Democrst party goal all along?