Johns Hopkins economist predicts ‘whopper’ of a recession in 2023 — and points to one key economic r

https://www.google.com/amp/s/fortun...sion-whopper-2023-m2-money-supply-growth/amp/

Just two years of Democrats in power and we end up with a whopper of a recession. Thanks Biden!

How far will democrats crash the economy?

High inflation, housing market teetering on the brink, folks beginning to lose their jobs.......you will own nothing and be happy.....or that is what the dems say.

 

Trying to blame the current economic situation on Biden while ignoring all the other factors that led to it makes one wonder if Biden is as bad as you say he is.

Spin like this gives the impression that you don't have legitimate things to take issue with him and the Democrats on. If you did, and you were actually concerned about it, you would use those legitimate issues instead of obvious nonsense like this.

So in essence, what you're saying is that Biden isn't as bad as you say he is because you have to stoop to using exaggerations and fabrications in your opposition, instead of real world things.

I've told anti-Trump folks the same thing on this forum in the past. When you oppose a politician with nonsense, you not only destroy your own credibility but you bolster it for those you're trying to oppose.

 

OP is fake news.

Over 11 million open positions in the USA.

https://www.cnbc.com/2022/08/30/jolts-july-2022.html

 

Did you even read the article you posted?


The claim is that a recession is inevitable due to the difficulty of tamping inflation with higher interest rates, while not cooling down the economy too much (the coveted Fed soft landing).

The claim is also that unprecedented injection of money into the money supply caused inflation. Now, looking at the graph, under which president has the majority (about 2/3) of this money injection occurred? Under which president is the money injection plateauing?

looking forward to your honest answers.

 

No matter the problem, right-wing socialists always have the same response: CUT TAXES FOR THE RICH AND HAVE TAXPAYERS' SOCIALIZE BUSINESS COSTS BY CUTTING REGULATIONS.
High inflation, housing market teetering on the brink, folks DID lose their jobs.......you will own nothing and be happy

Just like the Worst President Ever Donnie Trump inherited a very good economy from Obama, Good Ole Joe Biden inherited Trump's economic mess.

 

It is Biden's fault. The buck stops there like it or not.

 

My liking it or not liking it does not change objective reality, and the objective reality in this situation is that the economy is driven by far more things than who is sitting in the White House.

And the kicker? You know that already. And so do the folks reading your thread.

 

Hahaha! So you cannot defend those in power who have wrecked the economy. Instead you look to blame "outside" conditions as if Washington DC is in a bubble.

 

The irony here? I'm the one saying that D.C. and this country does NOT exist in a bubble, which it would have to in order for your conclusion in the OP to work.

And I'm not defending the Biden administration. I don't have to defend them in the first place, because what you're accusing them of is simply not within their power to control to the extent necessary to accomplish what you accuse them of.

What I'm actually doing is pointing out that your nonsense is indeed nonsense.

 

Ok, fair enough. Let's hit up Biden on:

Afghanistan
Inflation
His day one war on gas
Supply issues
His hideously unfair student loan forgiveness
Selling the influence of his office for 10%
The open borders and the ensuing invasion by hundreds of thousands of illegals
The 107,000 overdose deaths last year mostly from drugs coming across the open borders
He's a racist, his VP even said so
He sniffs children
He gropes women
He appears to be suffering from senility and dementia
Weaponizing government agencies
He doesn't come across as competent and believable
Hiring by identity instead of ability and merit
He's allowing China to increase their global influence
He wants to give Iran, the people who chant death to America and Israel, one trillion dollars
His weakness is what gave Putin the gonads to start a war

I'm sure there's more, but you can start by discussing the above if you choose.

 

There you go. At least some of those things are legitimate points that you can hit Biden over without the need to invent nonsense like the OP does.

 

Lol…I don’t discuss right wing brain farts.
The majority of your little list is ridiculous or false.

 

Name something on that list that’s ridiculous or false.

 

Actually, looking at it more closely, it's all partisan bullshit, so that dog won't hunt.
Try again.

 

This post needs to be repeated.



This chart shows that the Biden administration has finally turned off the money spicket that Trump turned on like a firehose.

 

Well actually, anything bad that happens, is due to Trump or Puten. What I have learned from this forum:

1. All major problems are caused by Trump of Puten;
2. Biden is not responsible for causing any problems;
2. Biden should not be expected to have solutions for any problems.

 

Biden has done a good job of ending the printing of money that the Trump administration was doing more of than any other time in our history.

It will take a year or two for it to really show results.

 

The 2nd COVID payout package poured gasoline on the already brewing inflation fire

That was Biden not Trump

Yes, inflation would have happened regardless, but nowhere near as severe

 

Did you look at the money supply chart? Facts.

 

Do you think the OP will acknowledge this graph? I am not holding my breath.

Interestingly, the graph also shows that the rate of increase in M2 money supply was not vastly different between the Biden presidency and 2019-2020, under Trump BEFORE covid. Overall, 3/4 of the M2 money creation from 2019 until 2022 occurred under Trump. Let that sink in.

Now, that isn't to say that Biden is responsible for the recent plateauing of the M2 money vs. time curve. Much more likely, the slowing of the economy is the main driver behind this phenomenon. However, the slowing probably HAS to occur, if we want inflation to be brought under control.

 

I'm not sure they understand how to read charts. After all, it was available in the link he posted in the OP.

It's sad how often these types of threads are debunked by the link posted in the OP.

I think often, they see 2020 and remember that the election was in 2020 and assume that all 2020 data is attributable to the winner of the 2020 election.

 

Yes facts - both parties are responsible

So unless you are blaming both, you are ignoring the facts

 

Actually, nobody is saying any of those things. What people are saying is that "Biden did this" chants are silly and devoid of facts. Things are ALWAYS more nuanced than hyper-partisans would want you to believe.

 

LOL, so the big difference is the BIPARTISAN PPP was during a time that everything was shut down and the money supply was about to be cut off to 100 million workers, but they got to keep their normal paycheck, it wasn't on top of what they made. That's why you saw inflation lowering the last qtr before Biden took over. When the second handout was given as employees were back triggered it. I know you know it but your excuse is noted.

 

Did you look at the graph? Did the M2 money supply increase by 7% in 2019 when GDP growth was only 2.2%? Yes or no?

And, yes, the money injection in 2020 was necessary and due to covid, nobody is disputing this. And, yes, this money injection is contributing now to inflation. And, yes, Biden shouldn't have signed the second covid stimulus. However, hindsight is 20/20. At the time of the 2nd stimulus we went through the biggest covid wave ever, so it wasn't easily predictable that the economy would recover that quickly.

Now, back to you, can you criticize your side when it comes to the cause of the current inflation?