Great Economic Numbers

[luvyablue256]

3 hours ago, tgo said:

 

2. Why do you think inflation is up 6.8% from last year? What was going on with the economy late last year?

 

Love how he avoided that one...

[tgo]

2 hours ago, Little Earl said:

 

That would be the President who inherited the worst economy since the great depression.  Also that was the President that lowered the inflation rate from 13.5% in 1980 to 6.1% in 1982.  Nice try though.

 

 

 

The President who inherited the worst economy since the Great Depression was Joseph R. Biden. The economy was shut down and in free fall. And Barack Obama before him because of the Great Recession under Bush.

 

Trump was the only president in American history to actually lose jobs over the span of his presidency since they started tracking it accurately in the early 1900's. The other was Herbert Hoover. 

 

Both economies were in worse shape than Carter's economy overall. And Carter actually *de* regulated several industries in the economy (Airlines, trucking, railroads, etc.) - which paved the way for some of Reagan's early private sector successes. 

 

 

Edited December 10, 2021 by tgo

[luvyablue256]

12 minutes ago, tgo said:

 

The President who inherited the worst economy since the Great Depression was Joseph R. Biden. The economy was shut down and in free fall. And Barack Obama before him because of the Great Recession under Bush.

 

Trump was the only president in American history to actually lose jobs over the span of his presidency since they started tracking it accurately in the early 1900's. The other was Herbert Hoover. 

 

Both economies were in worse shape than Carter's economy overall. And Carter actually *de* regulated several industries in the economy (Airlines, trucking, railroads, etc.) - which paved the way for some of Reagan's early private sector successes. 

 

[tgo]

Just now, luvyablue256 said:

 

 

The persistent idea that Republicans are the party of the economy always totally baffles me. They're the party of the rich, not the party of widespread economic success. 

[Little Earl]

48 minutes ago, tgo said:

 

The President who inherited the worst economy since the Great Depression was Joseph R. Biden. The economy was shut down and in free fall. And Barack Obama before him because of the Great Recession under Bush.

 

Trump was the only president in American history to actually lose jobs over the span of his presidency since they started tracking it accurately in the early 1900's. The other was Herbert Hoover. 

 

Both economies were in worse shape than Carter's economy overall. And Carter actually *de* regulated several industries in the economy (Airlines, trucking, railroads, etc.) - which paved the way for some of Reagan's early private sector successes. 

 

 

ummm, no.    It was worse in the 70s.   Quite laughable to equate what Reagan inherited compared to Biden.   The big reason why Carter got his ass whipped by Reagan.

[tgo]

14 minutes ago, Little Earl said:

ummm, no.    It was worse in the 70s.   Quite laughable to equate what Reagan inherited compared to Biden.   The big reason why Carter got his ass whipped by Reagan.

You can say it was worse because of the images of gas lines and the energy crisis. That aspect was worse, yes. But not the job market and overall economy. 
 

And it’s not at all laughable to compare. The economy was in an all out historic crisis when Biden took over. Massive unemployment, hundreds of thousands on the verge of homelessness. 
 

Here is an unbiased ranking of the worst economies inherited by a president in the modern era: 

 

1. FDR

2. Biden

3. Obama/Reagan (can argue either way) 

4. Reagan/Obama (can argue either way) 

 

The first two are really not arguable. The reason the crisis was not totally catastrophic in the end was because of how masterfully Biden and team handled it and how quickly they turned things around. 

[Starkiller]

5 hours ago, Little Earl said:

That would be the President who inherited the worst economy since the great depression. 

Obama???

[Little Earl]

2 hours ago, tgo said:

You can say it was worse because of the images of gas lines and the energy crisis. That aspect was worse, yes. But not the job market and overall economy. 
 

And it’s not at all laughable to compare. The economy was in an all out historic crisis when Biden took over. Massive unemployment, hundreds of thousands on the verge of homelessness. 
 

Here is an unbiased ranking of the worst economies inherited by a president in the modern era: 

 

1. FDR

2. Biden

3. Obama/Reagan (can argue either way) 

4. Reagan/Obama (can argue either way) 

 

The first two are really not arguable. The reason the crisis was not totally catastrophic in the end was because of how masterfully Biden and team handled it and how quickly they turned things around. 

you think stagflation is indicative of a strong economy?   You think paying 20% mortgage rates are in any way good?   How about that whopping 6.5% stock market ave return under Carter?   GDP went down 3.5% in 1980.  Unemployment was 7.2% in 1980.   That unbiased ranking is bs.

Edited December 11, 2021 by Little Earl

[luvyablue256]

 

Uh oh.....

[pat]

14 hours ago, Little Earl said:

you think stagflation is indicative of a strong economy?   You think paying 20% mortgage rates are in any way good?   How about that whopping 6.5% stock market ave return under Carter?   GDP went down 3.5% in 1980.  Unemployment was 7.2% in 1980.   That unbiased ranking is bs.

 

Who the hell is paying 20% mortgage rates?

 

I'm seeing 5-6% on the high side.

 

20% sounds like "a steal the house from the old dude who doesn't work" rate.

[pat]

20% is a terrible rate even for a loan with no collateral... ie a credit card.  @Little Earl what are you talking about?

[Starkiller]

2 hours ago, pat said:

 

Who the hell is paying 20% mortgage rates?

 

I'm seeing 5-6% on the high side.

 

20% sounds like "a steal the house from the old dude who doesn't work" rate.

He’s talking about when Saint Reagan became president. 
 

And it was the case because Carter had to deal with stagflation and the Fed had to jack up interest rates to fight it. It was painful but it worked. But a lot of the country blamed Carter for the pain and Reagan got all the credit for it working because the policy did beat stagflation, but not until after Reagan was in office. 

[Downtown]

The sad part of the ignorance of @Little Earl is that it actually makes me wish Carter would have been a heartless President and not taken the poisin-pill of drastically raising rates to save the economy. Carter did the most honorable thing a politician could do. He took the heat when he could have just kept it going and passed the chaos to the next Republican President. 

[tgo]

 

[Starkiller]

20 minutes ago, tgo said:

 

Everyday Americans don’t care about economic numbers if it isn’t helping them