***Biden wins presidency-Boy are we toast***

[yelped]

https://twitter.com/RepDanBishop/status/1605253710753501186

Was looking for the inflation thread. Seriously, someone has to go in there and clean out Washington. What a swamp (both sides).

[yesitsme]

mitch must go

[CountValentine]

Another great number. When is this guy going to get credit?

https://www.msn.com/en-us/money/markets/wow-this-is-a-blow-out-fox-reporter-shocked-by-new-gdp-report-showing-higher-than-expected-gain/ar-AA15zk4d

[CountValentine]

A massive win for Biden with bipartisan support!!!
https://abcnews.go.com/Politics/senate-passes-17t-spending-bill-including-ukraine-aid/story?id=95708550

[dm123]

A massive win for Biden with bipartisan support!!!
https://abcnews.go.com/Politics/senate-passes-17t-spending-bill-including-ukraine-aid/story?id=95708550

I can hear how some paint it as a win, but seriously, these inflated omnibus bills with tons of stuff patched together is terrible, automatic fodder for anyone's campaign. Can someone explain why it's good or is it purely technical to close out the year without a shutudown?

[CountValentine]

I can hear how some paint it as a win, but seriously, these inflated omnibus bills with tons of stuff patched together is terrible, automatic fodder for anyone's campaign. Can someone explain why it's good or is it purely technical to close out the year without a shutudown?

I didn't say it was a good bill, I said a massive win. 

[dm123]

I didn't say it was a good bill, I said a massive win. 

Absolutely I know that's what you meant.

But this seems to be an annual occurrence no matter who's in power, any insight? Or has it only been happening the last few years? Or is there a better thread to ask about this?

[CountValentine]

Absolutely I know that's what you meant.

But this seems to be an annual occurrence no matter who's in power, any insight? Or has it only been happening the last few years? Or is there a better thread to ask about this?

The difference is this goes for almost a year and not a week or month. This is why so many R's are upset.
I was surprised the senate R's went along with it but I guess everyone got their slice of the pig (pork). 

[yesitsme]

musk needs to take over the white house and all branches asap

[CountValentine]

musk needs to take over the white house and all branches asap

We just threw a nutcase out and you want to put another one it? 

[yelped]

We just threw a nutcase out and you want to put another one it? 

One added another few trillion to the deficit, the other will remove a few trillion. The only question is which few trillion.

[yesitsme]

no formula, not a problem will stick in some pampers and no one will notice

[CountValentine]

Great numbers after great numbers!!!

@mods can we change the name of the thread to: ***Biden wins presidency-Boy are we GOLDEN***

https://www.msn.com/en-us/money/markets/nonfarm-payrolls-rose-223-000-in-december-as-strong-jobs-market-tops-expectations/ar-AA162MD9?ocid=msedgntp&cvid=7a391288e4b249359dcb65bc757a9baf

[randomjay]

Great numbers after great numbers!!!

@mods can we change the name of the thread to: ***Biden wins presidency-Boy are we GOLDEN***

https://www.msn.com/en-us/money/markets/nonfarm-payrolls-rose-223-000-in-december-as-strong-jobs-market-tops-expectations/ar-AA162MD9?ocid=msedgntp&cvid=7a391288e4b249359dcb65bc757a9baf

While the media focus is on the basic jobs number which did beat expectations, real economists look at the more detailed data which actually shows a huge decline. One example is that the average workweek for all employees on private nonfarm payrolls declined by 0.1 hour to 34.3 hours in December. While this seems like a minor figure, if you multiply this 1/10 of an hour by the total workforce of about 150 Million that would be 15 million hours lost, divided by 34.3 per week, that would be a total of 437,000 employment loss which far exceeds the 223K gain. Another example that it seems the majority of the added jobs are part time jobs. This is also the reason the stock market likes the report, as a real strong report is no good for inflation, investors know that the job report is actually BAD,

[CountValentine]

While the media focus is on the basic jobs number which did beat expectations, real economists look at the more detailed data which actually shows a huge decline. One example is that the average workweek for all employees on private nonfarm payrolls declined by 0.1 hour to 34.3 hours in December. While this seems like a minor figure, if you multiply this 1/10 of an hour by the total workforce of about 150 Million that would be 15 million hours lost, divided by 34.3 per week, that would be a total of 437,000 employment loss which far exceeds the 223K gain. Another example that it seems the majority of the added jobs are part time jobs. This is also the reason the stock market likes the report, as a real strong report is no good for inflation, investors know that the job report is actually BAD,

Everyone can twist the numbers any way they want but we have been using the same numbers for the last admin to. We don't move the goal post. 

[randomjay]

Everyone can twist the numbers any way they want but we have been using the same numbers for the last admin to. We don't move the goal post. 

Generally higher job numbers also are higher work hour numbers. This situation is very rare. Everyone predicts a slow down, FED policy makers are working on overdrive to slow the economy, so high job numbers just doesn’t make sense, unless you read the full report and realise we just lost 437k jobs.

[CountValentine]

Generally higher job numbers also are higher work hour numbers. This situation is very rare. Everyone predicts a slow down, FED policy makers are working on overdrive to slow the economy, so high job numbers just doesn’t make sense, unless you read the full report and realise we just lost 437k jobs.

Everyone has their own take on what the numbers mean so that is why we have goal posts. The main goalpost is the UI rate which fell again.

Everyone has been predicting a slowdown like you stated and that has not materialized so far. The bottom line is the report was better than expected and that is why the market rallied.

[randomjay]

Everyone has their own take on what the numbers mean so that is why we have goal posts. The main goalpost is the UI rate which fell again.

Everyone has been predicting a slowdown like you stated and that has not materialized so far. The bottom line is the report was better than expected and that is why the market rallied.

It’s not 1 take of the numbers VS another, it’s reading the 1st paragraph of the report VS reading the entire report.
https://www.bls.gov/news.release/empsit.nr0.htm

Also, it’s not only everyone predicting a slow down, it’s the feds actually pushing and causing it. If you are right, that would be very bad for inflation, but I know you’re wrong.

[CountValentine]

Also, it’s not only everyone predicting a slow down, it’s the feds actually pushing and causing it. If you are right, that would be very bad for inflation, but I know you’re wrong.

The Feds are still pushing for a slowdown because one of the reasons is the labor market is strong.
This is not about who is right or wrong. It is what numbers we use for these discussions, so we don't get the political spin.
The spin from one side is this strong labor report represents a soft landing. The spin from the other side is we are headed for the big R.

[CountValentine]

If this keeps happening expect another 4 years of toast after the current serving!!! Probably with a side order of house and senate.
https://www.msn.com/en-us/news/politics/joe-biden-s-approval-rating-keeps-going-up-and-up/ar-AA16b8PG?ocid=msedgntp&cvid=20f078252b55400189d530d70e5479e8