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#Bidenomics

1 post1 participant1 post today
Continued thread
Public
Nonilex

"We've taken a step back & we're watching to see what the policies turn out to be & the ways in which they will affect the #economy. Then we'll be able to act. Fortunately, our policy stance is in a good place for us to do that." thanks to #Biden / #Bidenomics]

#TheFed, he added is in the same place as everyone else, awaiting clarity on policies.
[again, cuz shit is crazy]

#ETTTTS#Trump#tariffs
Public
WYM Mod

Can economic data really shape public perception? Paul Krugman and Jared Bernstein delve into how the Biden administration's economic policies are viewed amidst contrasting sentiments about Trump's strategies. They analyze how entrenched memories and social media influence negative public sentiment despite strong GDP growth. The discussion covers inflation narratives, supply chain issues, and the effectiveness of Trump's tariffs. For a deeper understanding, read the full article here: [Source](paulkrugman.substack.com/p/fro) #Economics #Inflation #Bidenomics #Trumponomics #PublicPerception

Paul Krugman · From Bidenomics to Trumponomics: A Talk with Jared BernsteinBy Paul Krugman
Public
Nonilex

The world’s most widely followed #StockMarket benchmark slid into a correction on Thurs, a drop that underscores how the 2-yr-long bull market [#Bidenomics] is running out of steam in the early days of the #Trump admin.

The move stems from investors’ growing pessimism about the whipsawing policy pronouncements from Trump over the past few weeks. On-again, off-again #tariffs & #MassLayoffs of #FederalWorkers have fomented unease on #WallStreet.

#economy #Trumpcession
nytimes.com/2025/03/13/busines

The New York Times · S&P 500 Dips Into Correction as Stock Market Sours on TrumpBy Joe Rennison
Public
toussaint

while telling everyone & getting all the big papers to print articles saying how evil work from home is and how lazy all those slobs are who want to do that are, coproworld has been hiring workers overseas to work from home at a 10% savings. this report shows how hiring has been going like gangbusters all while they keep saying they are gonna bring all the jerbs home #Bidenomics meet #MAGAnomics
reveliolabs.com/news/business/

* US-based employers expanded employment abroad faster than domestically for the past 7 years. This is particularly pronounced among Tech and Consulting firms. * Highly remote-suitable roles have grown 42% faster outside the US than within the US since 2019, while there is no difference in growth rates for roles that are not remote-suitable. * Cost saving considerations play another large role for offshoring. For every 10% reduction in foreign worker salaries compared to average US salaries for the same role, employment outside the US grew 13.1 percentage points faster than within the US.
Continued thread
Public
Work in Progress 🌻

I compiled these statistics in 2023:

-In Joe Biden’s America: -There are 582,500 homeless people (2022 figure)
-More than 25% of homeowners are ‘house poor’
-Housing costs are at record level of unaffordability
-Utility costs have skyrocketed
-Food costs have skyrocketed
-Record number of people living in poverty (12.4%!)
-31% of Americans report a net worth of $0 or less
-Credit card debt in the US is at a record $1.031 trillion

https://www.epigaea.net/posts/04-11-2023/

Bill CariniMedia: 'Biden's Economy is Good'. Us: 'Wait, What?'In Joe Biden’s America: -There are 582,500 homeless people (2022 figure) https://www.huduser.gov/portal/sites/default/files/pdf/2022-AHAR-Part-1.pdf -More than 25% of homeowners are ‘house poor’ https://www.chamberofcommerce.org/cities-with-the-most-house-poor-homeowners/ -Housing costs are at record level of unaffordability This year’s State of the Nation’s Housing 2023 report from Harvard University’s Joint Center for Housing Studies paints a stark picture of record unaffordability, near-record housing shortages and major barriers to first-time homeownership. The number of cost-burdened renters reached an all-time high: 21.6 million households (49%)
#Bidenomics
Public
Work in Progress 🌻

Eugene Ludwig
Voters Were Right About the Economy. The Data Was Wrong.

I don’t believe those who went into this past election taking pride in the unemployment numbers understood that the near-record low unemployment figures — the figure was a mere 4.2 percent in November — counted homeless people doing occasional work as “employed.” But the implications are powerful. If you filter the statistic to include as unemployed people who can’t find anything but part-time work or who make a poverty wage (roughly $25,000), the percentage is actually 23.7 percent. In other words, nearly one of every four workers is functionally unemployed in America today — hardly something to celebrate.

https://www.politico.com/news/magazine/2025/02/11/democrats-tricked-strong-economy-00203464

#Bidenomics
Public
MJ Muse

Another #FAFO
Amazon issues disappointing revenue forecast, points to weakest growth on record Based on Amazon's forecast, the company expects revenue growth of only 5% to 9% in the first quarter.
At the low end of the range, that would mark the slowest growth on record.
Revenue in the fourth quarter rose 10% from $170 billion in the same quarter a year earlier
Under #bidenomics #TrumpIsUnfitforOffice
#TrumpEconomyCrash
#TrumpBillionaire #MAGAgrifters cnbc.com/2025/02/06/amazon-amz

CNBCAmazon issues disappointing guidance even as earnings top estimates
Public
Miguel Afonso Caetano

"Bidenomics encapsulates something fundamental about the Democratic Party. Since the New Deal, one cornerstone of its approach to governance has been to subsidize and insure corporations and firms engaged in providing housing, health care, high-tech manufacturing, and other activities that might contribute to the common good. Rather than call this industrial policy—with its connotations of smokestacks and state planning—this bundle of strategies is better understood as market-making. In a country as conservative as the United States, it has some political sense. It allows Democrats to shape economic and social outcomes in ways that deflect right-wing accusations of governmental overarch; it tries to align progressive social goals with the interests of capital, which might otherwise lash out or simply flee the country. Perhaps most importantly, from the 1930s to the 1960s it was subsumed within a larger and more robust welfarist agenda that did offer direct benefits like public works employment while also significantly expanding the public social safety net: Social Security, Medicaid, and Medicare were all established in this period.

In subsequent decades, however, as unions declined and public-sector austerity took hold, the political expedience of market-making gradually colonized the entirety of the Democratic imagination. A paradigmatic example of this shift is Obamacare. Rather than deliver a genuinely public option, the Obama administration created a highly complicated system of incentives and subsidies to expand access to private insurance markets—which drove up costs, led to massive windfalls for insurance companies, and ceded ever more control over our lives to health care corporations. Even as it takes root through public policies, Democratic market-making has in fact thinned the relationship between citizens and the state, which has come to depend on the interests and whims of capital to act."

nybooks.com/online/2025/01/15/

The New York Review of BooksBidenomics: Farewell to an Idea?  | Brent CebulAs the Democratic Party reckons with another loss to Donald Trump, no issue looms larger than its continued hemorrhaging of working-class voters. It’s not
#USA#Biden#Bidenomics
Public
MJ Muse

#FAFO The White House Is Wiping Out Millions In Tax Debt Before Trump Takes Office

The IRS is receiving a record number of applications for the Fresh Start Program, which reduces or erases tax debts. Thanks the Inflation Reduction Act (IRA), the IRS has been able to approve more applications than ever before.
Republican officials have proposed tax policies that could significantly change the program – or even kill it altogether.
#bidenomics freshstartinformation.org/whit

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