GDP HUGE MISS! Biden in trouble.
- Thread starter HJCane
- Start date
Very positive day in the stock market today. HJ, are you looking for begging for and cheering for bad economic news? Sure feels like it.
Why is Biden in trouble? He's only been in Office 7 mos. Personal consumption was far stronger than expected and the drop in inventory means that in the current and future quarters, retailers will have to restock inventories which will boost GDP. Today's GDP shortfall will translate into stronger GDP contributions in future quarters!
And I'm up big! Due to the global debt crisis and credit bubble were in the early stages of a precious metals boom and I'm all in with gold and silver stocks. My top stock is up over 400%.
Pending a major correction soon. Has little to do with it in regards to a quick reaction. More over a longer period of time. We should be growing at expected rate not below coming out of a mini-recession pandemic related.
Those numbers are projections not definitive. Point being is the projection was significantly higher than what was produced. That’s not a good sign.
Growth was lower than expected, and unemployment was higher than expected, that’s the real news.
As little as I know about the market, and believe me its very little, I know that the market doing good(for which I’m very thankful) doesn’t always reflect a healthy economy.
The market is doing better than the economy, but that's to be expected given the impact COVID has had on the nation over the past 16 months. We are still however in the same bull market that began under Obama, continued under Trump and is continuing under Biden.
I openly admit you know more than me, I am loving the market being where it’s at.
And another terrible day on main street with inflation running rampant. Pudding Brain and his policies are placing an unfair burden on poor folks.
Market is doing well....the Market understands we are on the verge of historical legislation that will be landmark. The right stupidly is killing off thier own base anyway as 99.5 percent of covid death comes from unvaccinated individuals. Guess which states are in the red (no pun intended)?
Biden is doing just fine. We will get someone to wake him up when we need his signature.
Biden is doing just fine. We will get someone to wake him up when we need his signature.
That was the purpose of Biden's stimulus package-to revive a battered US economy.
Riddle me this MM- Why am I awaiting inventory sitting at anchor on container ships in LA & Seattle ports that they will not release? Blue state scenario/longshoremen not working/politics? When they do release the product I need for inventory, there are no truckers that deliver it. Craziness and politcally motivated. When we do receive a pallet or two, we were lucky to receive it, then we process our product, and it is out the door. We have over 100 pallets on these container ships that are not being released! These pallets are not from China either as Biden administration would probably make sure we would have received them.... smdh
Market is temporarily doing well while millions of poor people are suffering due to Pudding Brain's policies that are driving inflation through the roof. No big deal though as long as Joey and Nancy get to enjoy their ice cream. So much for looking out for the poor as Pudding Brain promised. Just one more lie for the serial liar.
801,
Didnt DJT use stock market performance as his key indicator of economic prosperity in the country? Yes he did. Didn’t DJT predict a stock market collapse if Joe was elected? Yes he did.
He was wrong on both points.
And didn't the left say that the stock market was not a key indicator of economic success while 45 was in office? Something about poor people not being able to take advantage of it? 45 is no longer president so let's focus on Joey's policies that will drive inflation through the roof and force future generations to pay for all these pie in the sky plans. Bailing out Dem cities that overspend their budgets year after year doesn't seem very fair to Utahn's that end up with a surplus nearly every year. Why are we rewarding failed policies?
801,
‘’I don’t strongly disagree with you even though I’m a Dem. The stock market did well for the first 2/3 of Bush2 presidency and then totally tanked in 2007-09. That period showed complete alignment between poorer people and stockholders: everyone was crushed.
The market began its climb under Obama, hit a Covid bump under Trump and then recovered again. It continues to prosper under Biden. Going forward? I’m optimistic that wages will rise cuz demand for labor is so high. I live in a tourist area where hotels and restaurants are begging to hire people. Gotta pay more.
The stock market? I’m also optimistic for 1-2 years out as the Covid recovery continues. Travel will boom unless Covid reignites in a big way.
Inflation? That’s the big question. Is it transitory due to current limited supply and tremendous demand for gas, oil, chips, lumber, steel, etc? Or is it chronic due to government overspending?
In Cali, a high spending state, we nevertheless have a budget surplus due to the tremendous tax revenues from capital gains from booming IPOs and stock options for high growth companies. Go figure.
My wife and I did very well the last 2 years in the market but it was a tip from a neighbor and not due to our understanding, or lack thereof, of the market. Dumb luck you might call it. Utah also has a budget surplus, and does it year after year despite the fact that 66% of the land here is owned by the Feds and much of it is off limits for development. Utah takes a completely different path than Cali and is very careful about not spending more than they take in and without taxing their citizens to death. Does Cali have a surplus every year or is this an outlier that happens once in a while? I don't follow your budgets there as well as you do obviously, so just curious. That is why I don't care for nationwide rules, because what works for Cali might not work here in Utah and vice versa. I am an eternal optimist so I can only hope that the future in America is bright no matter who is in charge at the time. How is your grape crop doing this year? Have you been affected by drought like so many Utah farms have been this year? Many farms here have had their water portions cut by as much as 70%, so I can only hope that yours is doing well.
Thanks 801.
Cali state government budget performance is much more variable than a solid, well run state like Utah. The only California advantage is it’s tremendous number of high growth companies (eg Google, Facebook, Disney, Tesla, Salesforce, Apple, etc etc) that keep creating millionaires via stock options. A 13% top state tax on income and capital gains does the budget trick.
The immediate water danger this year is creating even more tinder for wildfires. We personally lost our entire Red grape crop in 2017 and 2020 to smoke taint cause by ongoing fires. A nightmare for air quality as well. We are saying our prayers for no fires in the agricultural areas this year.
We have enough system wide resevoir water for farmers to survive this year. Going forward, however, lack of rain will drastically hurt next year’s production of all agricultural products. Ironically, it also slams the fishing industry as dry streams prevent our flagship fishing industry…salmon…from prospering. Without streams, salmon cannot swim upstream to spawn. A killer.
Lastly, I must congratulate Utah for its very high vaccination rate vs Covid. It stands out on the map as a high performer while it’s neighbors, Idaho and Wyoming, occupy the back of the pack. The generous civic nature of Utah citizens is there in plain sight. Congratulations.
Cali state government budget performance is much more variable than a solid, well run state like Utah. The only California advantage is it’s tremendous number of high growth companies (eg Google, Facebook, Disney, Tesla, Salesforce, Apple, etc etc) that keep creating millionaires via stock options. A 13% top state tax on income and capital gains does the budget trick.
The immediate water danger this year is creating even more tinder for wildfires. We personally lost our entire Red grape crop in 2017 and 2020 to smoke taint cause by ongoing fires. A nightmare for air quality as well. We are saying our prayers for no fires in the agricultural areas this year.
We have enough system wide resevoir water for farmers to survive this year. Going forward, however, lack of rain will drastically hurt next year’s production of all agricultural products. Ironically, it also slams the fishing industry as dry streams prevent our flagship fishing industry…salmon…from prospering. Without streams, salmon cannot swim upstream to spawn. A killer.
Lastly, I must congratulate Utah for its very high vaccination rate vs Covid. It stands out on the map as a high performer while it’s neighbors, Idaho and Wyoming, occupy the back of the pack. The generous civic nature of Utah citizens is there in plain sight. Congratulations.
For all the crap that Utah gets from some, it really is a beautiful state with lots of nice and helpful people. It has done us well. Two weeks ago most of our reservoirs were at end of season levels already and some are officially at 0% full. Farmers here are hanging in there, but like you said, next year could be a disaster without a good snowfall year this year. Wish you all the best with your winery.
