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submitted 2 months ago* (last edited 2 months ago) by MicroWave@lemmy.world to c/politics@lemmy.world

Summary

President Joe Biden touted his administration’s economic recovery efforts, citing job growth, reduced inflation, and infrastructure investments, as he prepares to hand off a strong economy to Donald Trump.

Biden criticized Trump’s proposed steep tariffs on imports, warning they could harm the economy and reintroduce inflation.

Trump plans tariffs against China, Mexico, and Canada, raising concerns about trade disruptions similar to those seen during his first term.

Economists caution that such policies could quickly reverse recent economic gains and weaken the U.S. economy.

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[-] mp3@lemmy.ca 65 points 2 months ago

Just do another round of stimulus check and let Donny deal with the bill. 😏

[-] Today@lemmy.world 15 points 2 months ago
[-] Blue_Morpho@lemmy.world 15 points 2 months ago

And this time put Joe Biden's name on the checks.

[-] Kalkaline@leminal.space 13 points 2 months ago

"We'll allow it, but only for corporate America and those making >$500k/year" -Sinema and Manchin

[-] nobody158@sh.itjust.works 14 points 2 months ago

This would be the best way to end the last 20 days, and mass parsons because fuck it whynot

[-] pearsaltchocolatebar@discuss.online 15 points 2 months ago

The best way to end it is for Biden to have Trump and friends disappeared to a CIA black site.

[-] NeatoBuilds@mander.xyz 7 points 2 months ago

Here comes Biden with the steel chair!

[-] Captainvaqina@sh.itjust.works 7 points 2 months ago

That's a totally legal, and very cool thing to do.

The supremely corrupt court hath made the president into a king with unchecked power to slaughter the entire United States.

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[-] kandoh@reddthat.com 4 points 2 months ago

Can't do that without also controlling congress which he doesn't.

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[-] HubertManne@moist.catsweat.com 52 points 2 months ago

more like stabilize. without the second term to actually make some progress this is going to go in the shitter fast.

[-] LillyPip@lemmy.ca 10 points 2 months ago

People really can’t understand the economy turns like the Titanic. Trump fucked it, but we didn’t see the real effects until Biden’s term. We were heading into another Great Depression, and coupled with the effects of Covid, people massively underestimate how well the economy actually did under Biden.

Trump will coast on the Biden administration’s success for a while, and will take the credit. Once he fully fucks everything (and IF there are fair elections in 2028, which doesn’t seem likely), a future democratic administration will be blamed for the effects of trump’s fuckery. Repeat ad infinitum.

That’s how it’s worked for a century, and uninformed voters will always fall for it.

[-] HubertManne@moist.catsweat.com 4 points 2 months ago

Nah. It takes much more to build than to burn down. This is why bush senior had to do the things that angered his base. Whats been built in the last four years will fall within 2. Even trumps first term it was actually covid which allowed him to get through it. Obama was not able to really get things good in two after bush jr.s two wars and when trump dropped rates and overheated everything the market was due for a big crash but covid ironically created this wierd condition were it bounced back due to the stimulus of the checks and just that generally the haves did not want to fuck around with that shit going. Everything became about keeping things going. Its gonna be a rough few years coming up.

[-] yarr@feddit.nl 47 points 2 months ago

If the democrats are so sick of getting swapped out maybe they should field some decent candidates.

[-] kandoh@reddthat.com 38 points 2 months ago* (last edited 2 months ago)

Unless your idea of a good candidate is George Clooney or Oprah than this isn't a problem that can be fixed with 'better candidates'.

[-] samus12345@lemm.ee 32 points 2 months ago

Those answers make me unreasonably angry. The absolute stupidity is astounding.

[-] yarr@feddit.nl 7 points 2 months ago

Those aren't my idea of good candidates either. My idea of a good candidate would be someone ethical, that wants to improve life for our citizens, that values constitutional values and the rule of law. I am not sure such a person exists in the US that is capable of winning the presidency.

In your picture above, just because a few morons vote for silly reasons doesn't invalidate the value of having actual good representation.

[-] kandoh@reddthat.com 9 points 2 months ago

There's value in good representation, but it's just not going to help us win elections so it's moot.

The most ethical, constitutional, kind of loving candidate in the world is worth jack shit if they can't win an election.

[-] yarr@feddit.nl 4 points 2 months ago

Sorry, I would not prefer an unethical, unconstitutional, unloving candidate to win. Actually, I think that's exactly what we did get.

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[-] CitricBase@lemmy.world 24 points 2 months ago

If voters demonstrated one thing this year, it's that the decency of the candidate is utterly irrelevant.

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[-] Diplomjodler3@lemmy.world 8 points 2 months ago

Nah. Their masters wouldn't like that.

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[-] blindbunny@lemmy.ml 44 points 2 months ago* (last edited 2 months ago)

You thought inflation was bad. Get ready for Trumpflation.

I guess that's better then renaming the war economy "Bidenomics"

Grow food if you can now folks shit is about to get bad. Buy flour in mass if you can.

[-] krashmo@lemmy.world 16 points 2 months ago

Not flour, unground wheat berries. Cheaper to buy in bulk with a much longer shelf life.

[-] RememberTheApollo_@lemmy.world 3 points 2 months ago

But your hand grain mill will cost 3x as much.

[-] krashmo@lemmy.world 3 points 2 months ago

True, if you need a fancy mill it can be expensive. However, if this a survival food you can find a way to grind it with rocks or whatever else you have access to in the event that you need to.

[-] RememberTheApollo_@lemmy.world 10 points 2 months ago

I appreciate the thought of having a food reserve for emergencies, but at the same time if you’re reduced to grinding stored grain with found rocks, I gotta question what people are living for.

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[-] thatKamGuy@sh.itjust.works 26 points 2 months ago

It basically happens every cycle, easy to go back all the way to George Bush Sr -> Clinton ( if not earlier).

But the problem is, the current economic boom is even more K-shaped than any other in recent history; half of the population are struggling worse than before, but their plight is masked by an incredible boom for the other half.

I can’t blame the working class for thinking back to ~2016, and remembering things fondly.

Trump will only make the current situation worse, but I can at least understand how the US ended up in its current predicament.

[-] Lightsong@lemmy.world 4 points 2 months ago

What is K shape? Like V but added flat? Or just direction where right side of K goes both up and down?

[-] thatKamGuy@sh.itjust.works 5 points 2 months ago

Chart taken from Investopedia’s article on K-shaped Recovery; but the underlying principle is the same: Some parts of the economy are performing so well that it masks the other sectors which are struggling.

i.e. the rich are getting so much wealthier, that when looking at the overall average the number is trending positively and not showing that the rest of society is getting poorer. This is one of the reasons when using aggregate measures, the median value is significantly more valuable than the average.

[-] halowpeano@lemmy.world 4 points 2 months ago

The rich got richer (top of K) the poor got poorer (bottom of K).

[-] TheObviousSolution@lemm.ee 20 points 2 months ago

And we have several pandemic vectors on the rise - again. Well, with one major change, we now have a vaccine denialist in charge of core agencies. Prospects look good for the vulture industries.

[-] finitebanjo@lemmy.world 5 points 2 months ago

And one of the new viruses has a fatality rate above 50% in livestock, probably doesn't bode well for humans.

If there is a god maybe the covid was just a booster virus to get the smart portion of humanity prepped for the real plague, lol.

[-] Allonzee@lemmy.world 13 points 2 months ago* (last edited 2 months ago)

I see it more as speed of descent.

I'm of the opinion this country is sold, and died about half a century ago as a democracy, and this is just leftover momentum. All but waned momemtum.

Our vote isn't on whether to reorient the economy to reflect the priorities of its citizens, merely how, and if at all, to manage some of the social issue symptoms of our crumbling commons, the ruins of public education, as the owners search for new vectors of exploitation.

I see voting blue as akin to requesting we leave the water pumps turned on for this sinking ship to buy time(D), and voting red a vote turn them off because some passengers have been deluded into hating other passengers and really, really want to watch them drown(R) despite being in the same boat with them.

The holes are our economic policy, but ask either party about patching them and you'll get something akin to "What holes? This ship is unsinkable! If you think there's holes, you're the problem."

Dont worry though, there are lifeboats, just enough for the politicians and their donors. Wealth means not having any national allegience.

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[-] Maggoty@lemmy.world 12 points 2 months ago

Lmao, he rebuilt the stock market.

That is not the economy.

[-] reddit_sux@lemmy.world 9 points 2 months ago

https://www.bls.gov/charts/consumer-price-index/consumer-price-index-by-category-line-chart.htm

This is a chart showing percentage difference over 12 months of CPI for the last 20 years. Biden's presidency came with less than 1% inflation which only rise to record levels in the first 2 years. It has come down to high 2% and settled at that level.

In the last 12 months everything other than energy prices have rise by 2.4%. A 2-2.4% in prices after having 2 years of near 10% inflation.

You can see how Democrats saying that they have done good for economy and common man seems hollow.

[-] ayyy@sh.itjust.works 10 points 2 months ago
[-] Randelung@lemmy.world 5 points 2 months ago

c/dataisugly

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[-] wpb@lemmy.world 7 points 2 months ago

He rebuilt the economy? What the fuck are they on about? Inflation is crazy high, there'e layoffs like every other day, and 60% of the country still lives paycheck to paycheck. Does huffpo think we all have our heads up our asses?

[-] Shardikprime@lemmy.world 5 points 2 months ago

Haven't you heard that Biden won and then Kamala won as well?

[-] halowpeano@lemmy.world 4 points 2 months ago* (last edited 2 months ago)

Inflation isn't high anymore. Price increases are back to normal.

Layoffs in the past year or two have nothing to do with the economy, most companies doing the layoffs are making more profit than ever, except maybe Boeing but that's clearly not economy related. They just want more money. Had nothing to do with the economy.

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[-] technocrit@lemmy.dbzer0.com 7 points 2 months ago

Imagine believing that genocide joe "rebuilt" the economy in any kind of just, sustainable, or meaningful way.

[-] Olgratin_Magmatoe@lemmy.world 17 points 2 months ago

Do you have an actual argument, or just insults?

[-] eran_morad@lemmy.world 4 points 2 months ago

i'm holding a huge cash position, waiting for the inevitable downturn to buy up assets.

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[-] Pacattack57@lemmy.world 4 points 2 months ago

Why does he look like Kim Jong Un in this picture 😂

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this post was submitted on 12 Dec 2024
609 points (100.0% liked)

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