Jeff Thomson’s Post

JUST IN: Biden blasts Trump, accusing him of leaving behind the worst pandemic in a generation and the worst economy since the Great Depression, with no plan in place to fix either. Now, Biden says he has turned things around, but warns Americans that without democracy, there can be no strong economy. Biden has described Trump as a threat to democracy after he refused to acknowledge that he lost the 2020 election, leading to what Biden describes as the January 6, 2021, Capitol 'riots.' "At its peak, inflation was 9.1%. Today, it's much closer to 2%. The economy is growing. Small business creation is at historic highs. Inflation is coming down, and employment remains very low," Biden said, praising economic progress at the Economic Club of Washington. Says, "The Fed's decision to lower interest rates signals a new phase in our recovery. It's good news for consumers, and it supports economic growth." Says, "I'm not here to take a victory lap. We have a hell of a lot more work to do." Says, "At its peak, inflation was 9.1%. Today, it's much closer to 2%. But our work is far from done." Says, "Lower interest rates mean lower costs for homes, cars, and loans—relief for American families." Says, "This is a moment for businesses to feel greater confidence, to invest, hire, and expand." Says, "We brought down inflation faster and lower than almost any other advanced economy in the world." Says, "While the economy is great, we cannot lose our democracy. American business and economic dynamism can't succeed without stability and security." Says, "We’ve created 16 million jobs, more than any other single presidential term." says, "We're building a better America by investing in infrastructure, clean energy, and technology, and fostering fair competition for all Americans." https://lnkd.in/eKcn9k2N

Stop the Nonsense Trump voters are misinformed. Biden did not create the inflationary problems we are in the process of recovering from- The inflationary problems are a result of: * Once in a century global pandemic; * Exacerbated by Trumps initial mishandling and bungeling * Trump’s tax cut for the top 1% and corporations that drove up the federal deficit * Collapse of global supply chains * Creating a supply and demand problem that drove up inflation * Trump and later Biden did what all top economists encouraged— deficit spending to stimulate the economy, keep people working, starving off a massive recession or a Great Depression ( note, capitalism loves free markets،ً until they collapse and then they want and expect the government to bail them out)—- with the taxpayers money These are the factors that led to the inflationary issues that Biden has skillfully navigated and we are recovering from— interest rates are coming down as is inflation, historic job growth, specifically in manufacturing, unemployment is down and the stock market is soaring Biden and the Fed Reserve are to be created for the soft landing we are experiencing— inflation coming down and we have avoided a recession; or worse a depression. Thank Biden and Vote Harris Walz 2024!

Americans suffer from a form of collective amnesia. There’s simply too much going on. We’re also very vulnerable to the power of suggestion — things we learn after the fact that become incorporated into our memory, fooling us into thinking they were real. Our memories are also affected by our biases — experiences, beliefs, prior knowledge, and what our friends and associates believe. When we retrieve a memory, these biases influence what information we actually recall. Anyone who watches a lot of Fox News or hears lots of right-wing radio is vulnerable to both suggestion and bias. But there’s something else. The media lives off conflict. And Trump is nothing but conflict. He bloviates, lies, exaggerates, takes credit, avoids blame, and belittles and excoriates opponents. So he gets a lot of airtime. Meanwhile, Biden does the hard work of getting stuff done. But editors and publishers don’t find this particularly exciting. Biden doesn’t lash out. He doesn’t ridicule his opponents or call them names. He doesn’t intentionally lie. He doesn’t exaggerate his successes or minimize challenges ahead. So few people know what Biden is doing or has accomplished. #democracymatters

The performance of US President Biden at the CNN debate on 27 June has raised a lot of doubts over his congnitive and physical health, and is causing serious fears that he will lose popular support and hence the presidential election in November. His post debate interviews, comments and appearances have not helped much in controlling the damage. Some members of the Democratic Party are talking about a Plan B, in which Biden steps down and backs another candidate to become the official party nominee in August. While the debate over Biden or someone else in his place, has merit and will continue for weeks, according to the author of this article, Joseph Stiglitz, there is no debate over the impact of economic plans being put forward by Biden and Trump. He sees only one winner in terms of economic agenda and that is Biden (or whoever takes his place.) “On the question of who would be better for the economy – Trump or Biden (or any Democrat who might replace him, should he drop out) – there is simply no debate.” #useconomy #politics #uspresidentialelections #biden #trump #inflation #tarriffs #immigration #interestrates #fiscalpolicy #monetarypolicy

I'm throwing in the towel on my view that the Democratic Party is favored to retain the White House. I would still give them 45% odds, since the economy is still expanding and they may replace Biden with a younger and fresher candidate. But they are no longer the likeliest to win. The reason is not just that Biden collapsed in the debate and is now manifestly unacceptable to the median voter. My previous probabilities had already discounted the incumbent president advantage, relying only the ruling party advantage amid a growing economy. The key is that the consumer's excess savings are exhausted and the labor market is weakening. Negative economic surprises are more likely than positive over the next four months. Plus, my geopolitical outlook was already harmful to Democrats, given that I expect both Mideast tensions and China tensions to escalate, compounding the Biden foreign policy mishaps that Trump hammered in the debate. The chart below shows how the 2012 debate threatened Obama's reelection. In 2024, Trump is leading the polls, and Biden is neither young nor charismatic like Obama. He is not even passable. Democrats will suffer a penalty with independent voters when if they pull a bait and switch. #geopolitics #macro #markets Latest report: Paywall: https://lnkd.in/g82VimCi

Harris plans to improve the economy she and Biden wrecked. How? Well, she grew up in a middle class home where her mother worked hard. She is going to create an opportunity economy, where everyone has an opportunity so that American’s hopes and dreams can be realized. I think I studied that in business school? She is going to look at housing holistically in a holistic manner to make sure we have a holistic solution. Oh, and did I say she grew up in a middle class home? Trump plans to bring the economy back to where he had it in his first term. How? He is going to lower taxes on businesses that produce their products in America which will bring back millions of jobs when these companies move their production facilities back to the USA. He is going to reduce everyone’s taxes which will increase consumer spending and further improve the economy. When this happens, household income will grow and homes will become more affordable due to increased disposable income. He will increase drilling and fracking which will bring down energy prices as supplies increase. Energy prices declining will reduce transportation costs, materials costs, supply chain costs and inflation will fall reducing mortgage rates and further make housing more affordable. Trump grew up in a rich family, which means he knows how to improve the economy for all of us. But, rich people are bad. We need to get rid of them so the government can take over the economy and the only people that will have resources will be our overlords and oppressors because they know what is best for us, right? Vote wisely. Policy over personality.

America is producing more energy, including more oil and gas, than any nation has ever produced in history. That plus infrastructure helps ease inflation -- especially inflation that was caused by massive 2017-2019 deficit spending and 2017-2019 trade wars. We're on a good trajectory, for the moment.

Joe Biden is the FDR of this era. World leaders trust and respect him and rely on his decency and humanity as well as his vast experience, and wisdom. Can you imagine any other leader being able to negotiate with world leaders the way President Biden does? I can't. Over the last three years, look how he has deallt with beefing up, consolidating and expanding NATO while helping Ukraine resist Putin's war of agression. Biden has been Masterful about it. And in so many other areas. Too many to name. The Europeans rely on him. We must follow France and the UK and beat back the dictactors, aspiring autocrats and theocrats. We will fight ignorance, we will fight against their attempts to stir up bloodlust among their supporters and we will win. And if you don't care about decency and integrity and all you want is to vote for your pocket book, take note: In October 2020, it was reported that 10 of the last 11 recessions started under Republican presidents, and that “Every Republican president since Benjamin Harrison, who served from 1889 to 1893, had a recession start in their first term in office.” The economy was in recession for 49 quarters from 1949-2013; 8 of these quarters were under Democrats, with 41 under Republicans. Democrats presided over 72% of job creation and 16% of quarters in recession since WW2 (April 1945 to August 2023). https://lnkd.in/e5UkKhQT VOTE BLUE NO MATTER WHO -- But I'm voting for today's FDR, Joe Biden and Kamala Harris.

Why do American voters seem to prefer Trump over Biden? Anyone from the middle and working classes - the normal American - looking for a more solid, stable and financially sustainable future, with more promising opportunities, should look at what Biden has achieved during his term compared to Trump. Just look at the facts, in terms of numbers. It will leave your jaw dropping. Robert Reich has compiled this very compelling comparison - worth a look!

We have been seeing numerous stories in the media about how people support Donald Trump because he did such a great job with the economy. Obviously, people can believe whatever they want about the world, but it is worth reminding people what the world actually looked like when Trump left office (kicking and screaming) and Biden stepped into the White House. https://lnkd.in/gWJVj2cv #great #economy #trump #left #bidenadministration #useconomy