Biden's Economic Policies are Sinking the US Economy

Economics
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The September Jobs report that was just released is a real indicator of things spiraling out of control for US Consumers and Price of goods. Inflationary growth is now exceeding and surpassed Wage growth, which in most cases is a real bad sign. Don’t worry, with Biden’s approval numbers currently at 37% and tanking, this bit of news will no doubt send it even lower once Americans start to realize that the price of goods gets even more expensive heading into the holiday season. BTW, anybody who tries to make a counter argument in order to blame this stagnation on COVID related issues doesn’t know what they are talking about. Bad policy after Bad policy based on Economic arbitrary decisions derived from an ideological view as opposed to a critical one is the results of a failing economy we are seeing now. In essence, we saw this same trend when Obama was in office and Americans should be really concerned!

Inside the data, you will note [Table B-1] a significant decline in Local Government Education of -144,000 jobs. Obviously the collapse of in-school teaching leads to less jobs in this sector overall. However, the drop happened at the exact same time students were returning to a new school year, and this drop is also reflected year-over-year. Schools were impacted by COVID in Sept 2020 more than schools are impacted by COVID in Sept 2021, yet this year the jobs are completely gone. Something bigger is happening in this sector.

Additionally, healthcare services show a major drop in employment (-37k) specifically as it relates to elderly care and nursing homes. All the sub-sectors of elder care are significantly lower in employment.

Retail was essentially flat (+56k) considering the scale of the sector; and durable goods within the retail sector show declines in employment. Again this would indicate less consumer spending on durable goods, as food and energy inflation are prioritizing spending habits. Leisure and Hospitality (+74k) with hotels and restaurants doing the majority of the hiring as the rebound in this sector continues.

[¹Here it is important to note a slow cascade effect that will take time and we are not near the peak of the trouble yet. As a historic reminder, the epicenter of the peak financial crisis (housing) was triggered in Nov/December 2005. However, the trouble was not visible on a national scale until 2007. Economic data shows the current triggering event took place in May/June of this year. Make of that what you will]

(CNBC) […] The U.S. economy created jobs at a much slower-than-expected pace in September, a pessimistic sign about the state of the economy though the total was held back substantially by a sharp drop in government employment.

Nonfarm payrolls rose by just 194,000 in the month, compared with the Dow Jones estimate of 500,000, the Labor Department reported Friday. The unemployment rate fell to 4.8%, better than the expectation for 5.1% and the lowest since February 2020.

[…] “This is quite a deflating report,” said Nick Bunker, economic research director at job placement site Indeed. “This year has been one of false dawns for the labor market. Demand for workers is strong and millions of people want to return to work, but employment growth has yet to find its footing.”

[INFLATION] is terrible for wage earners in the U.S. who are now seeing no wage growth and higher prices. Real wages are decreasing by the fastest rate in decades. We are now in a downward spiral where your paycheck buys less. As a result, consumer middle-class spending contracts. Eventually, this means housing prices drop because people cannot afford higher mortgage payments.

Gasoline costs more (+50%), food costs more (+10% at a minimum) and as a result, real wages drop; disposable income is lost. Ultimately this is the cause of Stagflation. A stagnant economy and inflation. None of this is caused by COVID-19. All of this is caused by economic policy and monetary policy sold under the guise of COVID-19.

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A Country in shambles !!! :nauseated_face:

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Job creation is in bad shape. And the problem isn’t new. It’s been happening for a long time.

It is an argument between people who are trying to make sense of what has happened in the U.S. job market and a subset of people who are trying to figure out what the problems are and how to fix them.

The “jobless recover” meme of a few years ago was a clever way of framing the decline in the labor force participation rate and the shift to part-time employment. That’s great because it helped focus our attention on a few things.

First, there are a lot of discouraged workers who can’t get back into the workforce. Second, a lot of people have chosen to work part-time.

It’s useful. But it doesn’t really tell us much about the overall shape of the labor market.

There is a lot of debate over whether all of the jobs lost in the Great Recession have been recovered. Back around 2011, when the labor market hit its bottom after the 08/09 collapse, we heard a lot of people who thought the recovery was just getting started and that by the end of the year, we’d see a lot more jobs created and people going back to work.

But that didn’t happen and it’s not happening now.

The fact that the job market is still recovering — that it’s still hard for people to get back into the workforce — tells us something more fundamental about what’s going on.

The number of job openings is at an all-time low. Job openings per available job seeker is at its lowest level since the early 1960s, and the number of unemployed workers is at an all-time high.

That’s a great story for people who want to make stuff or build stuff, but it doesn’t translate to a great story for people who want to buy stuff.

In fact, it has been a really bad story. COVID is a cover for what has been a long-term issue.

The problem has been a big shift from manufacturing to services.

Over the past 20 years, the share of American jobs tied to manufacturing has fallen by one-fifth, while the share of jobs tied to services has risen. And in the past two years, we haven’t added any manufacturing jobs, while we’ve added over 2.3 million jobs tied to services.

That means a lot of jobs that used to be in manufacturing have been shifted over to services. It’s a big reason why wages have been flat for so long and it has to do with that basic lack of demand.

It’s not great for workers either, because the service sector has fewer rules and regulations.

That means the jobs are often not unionized, don’t have health insurance or benefits, they have fewer rights and they often pay a lot less.

But it’s good for the owners of the services, because they aren’t as dependent on employees. They can pay workers less, and cut costs by automating things.

All of these things have helped them, and to some extent they’ve helped the economy.

You can see this if you look at how much of the economy has been tied to manufacturing.

It used to be about a third. Now it’s only about a quarter.

That was a big reason why American companies used to be so worried about imports, because they had to produce a large part of their stuff in the U.S.

But now that America is doing so much in services, it’s not as big a deal.

Instead, the economy is built around these services, so the U.S. doesn’t need to rely on exports so much.

But that also means there’s a problem. If the U.S. is becoming the service sector, where are all the good services jobs going to come from?

If the country becomes an economy built on services, you’d expect many of those jobs to come from other developed countries like Germany or Japan.

But the data don’t really support that.

So why don’t more jobs come from other developed countries?

One of the theories is that we keep moving to other countries.

When you work for a company, you know that the more technology and things like robots there are, the more likely you are to get a pay cut.

This is the “lean and mean” theory of the future. It’s that we keep moving to countries with less expensive, foreign workers.

But is that really what’s happening? Is this a theory or is there data to support it?

Some people think that’s what’s going on.

So where would we go?

We used to have lots of jobs, but it was in the country. Now we have a service economy, but we don’t have a lot of good jobs.

Many of them move overseas.

There’s also some evidence that other countries don’t have as much of a problem with robots and fewer people are getting their jobs. That means we don’t have to migrate to them.

For example, in the UK, the number of people unemployed has been falling for a long time and has even dropped below its pre-recession level of 2007.

In the USA, meanwhile, the number of unemployed people has been increasing.

But if you look across the world, the service economy is growing, but we can’t seem to move to those other countries to get our jobs back.

That’s why I don’t think there’s a lean and mean theory of the future.

There is an idea about why it might not be working - the other idea is that we are running out of things to work on.

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Jobs were returning under Trump, unfortunately it takes more than 4 years to fully implement a full job recovery. Under Ronald Reagan, much of his policies that were implemented didn’t take effect until he was out of office, and thus Bill Clinton was mostly the beneficiary. The problem is, as I stated in my post OP, is that this is not a case of the economy not recovering after the 2008 financial crisis, but Democrats returning to office with a socialist agenda and undoing their predecessor’s economic policies based on Ideology and not sound Fiscal decisions in the best interest of the American people let alone the economy itself. In other words, “NERO is burning down Rome” where Plutocrats desperate need to keep hold to their power out of vanity while robbing the public treasury and devaluing the currency is the red herring that we need to be paying attention to. Their intent is to collapse the economy so they can institute a "New Deal, one with a more socialist tinge while keeping the commoners sludged in serfdom while the elites control the resources to feed their lavish lifestyles.

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Those numbers are only down because of COVID…which as it turns out was nothing but a scam by Democrats to wreck the economy and force mail in ballots to get their puppet into office.

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I would argue it is not COVID, but only as a guise to cover up the fact that the decisions that were made such as shutting down the Keystone Pipeline as one example, is intentional and designed to collapse the economy.

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You’re suggesting that the democrats outsmarted your fox………:joy::joy::joy::joy::joy::joy:

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In my case, it’s definitely COVID. I was doing well, getting pay increases, working 55 - 70 hours a week at time and a half. March 20, 2020 was the last day I worked at my place of employment of 28 years.

I have come to the realization that I will never go back… my job is gone because of COVID.

They complain because no one will work. That isn’t true. No one will work at a job they can’t make a living at. “They” created this problem when they took all the jobs away because of a Cold virus.

I doubt very seriously that the work force will ever recover from this. When calling people lazy and blaming being “paid to stay home” (what a load of shit) on the problem, they need only to look in the mirror for the cause of it.

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It’s deliberate, the policies that The People Behind The Curtain who are REALLY running the nation are DESIGNED to not only sink our economy they are DESIGNED to sink the Western economies also.

Joey Bidet has NO economic policy, Joey Biden doesn’t even know what DAY it is. He’s The Puppet, but when the SHTF he’s DESIGNED to be The Fall Guy for the actual MORONS who believe he’s resident and running things.

ROFLAO Joey Bidet’s String Pullers won’t even allow him into The White House now, Joey Bidet is being kept in the place where the Fake Rooms are just like something off The Truman Show.

ROFLAO at the below, what a SAD PATHETIC LITTLE MAN Joey is, it’s seriously hilarious he’s so DEMENTIA RIDDEN now he’s NOT even AWARE he’s on a fake TV set, he’s pretending to be resident in a pretend “White House”

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SOON his String Pullers will just create a Hologram, Joey Bidet will be put out to pasture and like in the old Soviet Union the public will NOT be told and they’ll just have a Hologram that babbles away on the fake “White House” set and let’s face it WHO would even know the difference?

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And why would people shoot themselves in the foot like that….:roll_eyes:

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Do you remember Trump’s economic policy to pay off the national debt and run balanced budgets??? Probably not.

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Still peddling out that weak sauce argument? How many times are you going to copy and paste that one here ass clown? You are pathetic!

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Printing money to cause inflation is the government’s way of taxing you without actually “raising taxes!”

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Sinking Ship
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That is a LIE and you know it is a LIE.

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Trump gave America the greatest economy in the history this country.
Only a moron doesn’t see that.

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Just think, the governors shut down businesses force people to shelter at home and people like yourself infected with Trumpitis ignore reality.

A shot of clorox should help.

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