this post was submitted on 12 Dec 2024
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politics

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Summary

President Joe Biden touted his administration’s economic recovery efforts, citing job growth, reduced inflation, and infrastructure investments, as he prepares to hand off a strong economy to Donald Trump.

Biden criticized Trump’s proposed steep tariffs on imports, warning they could harm the economy and reintroduce inflation.

Trump plans tariffs against China, Mexico, and Canada, raising concerns about trade disruptions similar to those seen during his first term.

Economists caution that such policies could quickly reverse recent economic gains and weaken the U.S. economy.

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[–] ReallyActuallyFrankenstein@lemmynsfw.com 133 points 6 days ago (4 children)

We've been doing this seesaw for the last 30 years. Republicans are that guy we've all seen at work who gets nothing done but gets credit for everyone else's work, and fails up because of it.

[–] b3an@lemmy.world 8 points 5 days ago

What really irks me about this, is that the progression forward is then twice as slow because it’s two steps forward one step back, two steps forward one step back. This is not how to run a fucking country.

[–] 4lan@lemmy.world 2 points 4 days ago

Toward the end of Trump's term my Trumper sister was raving about how he saved our economy.

I whipped out a chart showing how he literally just continued the same upward trend that came out of Obama's term.

It's like trumpers aren't able to hear anything that goes against what they believe. In one ear out the other

[–] Clinicallydepressedpoochie@lemmy.world 9 points 5 days ago* (last edited 5 days ago)

It truly is a Homer Simpson v Frank Grimes situation. With the DNC being Frank Grimes Im praying for the day they actually lose it.

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[–] TheObviousSolution@lemm.ee 21 points 4 days ago (1 children)

And we have several pandemic vectors on the rise - again. Well, with one major change, we now have a vaccine denialist in charge of core agencies. Prospects look good for the vulture industries.

[–] finitebanjo@lemmy.world 5 points 4 days ago

And one of the new viruses has a fatality rate above 50% in livestock, probably doesn't bode well for humans.

If there is a god maybe the covid was just a booster virus to get the smart portion of humanity prepped for the real plague, lol.

[–] Maggoty@lemmy.world 12 points 4 days ago

Lmao, he rebuilt the stock market.

That is not the economy.

[–] mp3@lemmy.ca 65 points 6 days ago (8 children)

Just do another round of stimulus check and let Donny deal with the bill. 😏

[–] nobody158@sh.itjust.works 15 points 6 days ago (1 children)

This would be the best way to end the last 20 days, and mass parsons because fuck it whynot

[–] pearsaltchocolatebar@discuss.online 15 points 6 days ago (6 children)

The best way to end it is for Biden to have Trump and friends disappeared to a CIA black site.

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[–] Today@lemmy.world 15 points 6 days ago (1 children)
[–] Blue_Morpho@lemmy.world 16 points 6 days ago (1 children)

And this time put Joe Biden's name on the checks.

[–] Kalkaline@leminal.space 14 points 6 days ago

"We'll allow it, but only for corporate America and those making >$500k/year" -Sinema and Manchin

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[–] HubertManne@moist.catsweat.com 50 points 6 days ago (1 children)

more like stabilize. without the second term to actually make some progress this is going to go in the shitter fast.

[–] LillyPip@lemmy.ca 12 points 6 days ago (2 children)

People really can’t understand the economy turns like the Titanic. Trump fucked it, but we didn’t see the real effects until Biden’s term. We were heading into another Great Depression, and coupled with the effects of Covid, people massively underestimate how well the economy actually did under Biden.

Trump will coast on the Biden administration’s success for a while, and will take the credit. Once he fully fucks everything (and IF there are fair elections in 2028, which doesn’t seem likely), a future democratic administration will be blamed for the effects of trump’s fuckery. Repeat ad infinitum.

That’s how it’s worked for a century, and uninformed voters will always fall for it.

[–] RedditRefugee69@lemmynsfw.com 4 points 5 days ago

Are you implying the president's desk does not come with a big green Fix the Economy and a big red Ruin the Economy button?

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[–] blindbunny@lemmy.ml 43 points 6 days ago* (last edited 6 days ago) (2 children)

You thought inflation was bad. Get ready for Trumpflation.

I guess that's better then renaming the war economy "Bidenomics"

Grow food if you can now folks shit is about to get bad. Buy flour in mass if you can.

[–] krashmo@lemmy.world 15 points 6 days ago (8 children)

Not flour, unground wheat berries. Cheaper to buy in bulk with a much longer shelf life.

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[–] yarr@feddit.nl 38 points 6 days ago (10 children)

If the democrats are so sick of getting swapped out maybe they should field some decent candidates.

[–] kandoh@reddthat.com 34 points 6 days ago* (last edited 6 days ago) (6 children)

Unless your idea of a good candidate is George Clooney or Oprah than this isn't a problem that can be fixed with 'better candidates'.

[–] samus12345@lemm.ee 35 points 6 days ago

Those answers make me unreasonably angry. The absolute stupidity is astounding.

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[–] CitricBase@lemmy.world 21 points 6 days ago (2 children)

If voters demonstrated one thing this year, it's that the decency of the candidate is utterly irrelevant.

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[–] SatansMaggotyCumFart@lemmy.world 9 points 6 days ago (9 children)

There was nothing wrong with Harris except seven million people who voted for Biden weren't ready for her to become president.

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[–] thatKamGuy@sh.itjust.works 28 points 5 days ago (1 children)

It basically happens every cycle, easy to go back all the way to George Bush Sr -> Clinton ( if not earlier).

But the problem is, the current economic boom is even more K-shaped than any other in recent history; half of the population are struggling worse than before, but their plight is masked by an incredible boom for the other half.

I can’t blame the working class for thinking back to ~2016, and remembering things fondly.

Trump will only make the current situation worse, but I can at least understand how the US ended up in its current predicament.

[–] Lightsong@lemmy.world 4 points 4 days ago (2 children)

What is K shape? Like V but added flat? Or just direction where right side of K goes both up and down?

[–] thatKamGuy@sh.itjust.works 6 points 4 days ago

Chart taken from Investopedia’s article on K-shaped Recovery; but the underlying principle is the same: Some parts of the economy are performing so well that it masks the other sectors which are struggling.

i.e. the rich are getting so much wealthier, that when looking at the overall average the number is trending positively and not showing that the rest of society is getting poorer. This is one of the reasons when using aggregate measures, the median value is significantly more valuable than the average.

[–] halowpeano@lemmy.world 5 points 4 days ago

The rich got richer (top of K) the poor got poorer (bottom of K).

[–] Allonzee@lemmy.world 16 points 5 days ago* (last edited 5 days ago) (1 children)

I see it more as speed of descent.

I'm of the opinion this country is sold, and died about half a century ago as a democracy, and this is just leftover momentum. All but waned momemtum.

Our vote isn't on whether to reorient the economy to reflect the priorities of its citizens, merely how, and if at all, to manage some of the social issue symptoms of our crumbling commons, the ruins of public education, as the owners search for new vectors of exploitation.

I see voting blue as akin to requesting we leave the water pumps turned on for this sinking ship to buy time(D), and voting red a vote turn them off because some passengers have been deluded into hating other passengers and really, really want to watch them drown(R) despite being in the same boat with them.

The holes are our economic policy, but ask either party about patching them and you'll get something akin to "What holes? This ship is unsinkable! If you think there's holes, you're the problem."

Dont worry though, there are lifeboats, just enough for the politicians and their donors. Wealth means not having any national allegience.

[–] PugJesus@lemmy.world 4 points 5 days ago (1 children)

The poor man really has a stake in the country. The rich man hasn't; he can go away to New Guinea in a yacht.

GK Chesterton, The Man Who Was Thursday, 1908

[–] Allonzee@lemmy.world 4 points 5 days ago* (last edited 5 days ago)

Exactly, multinational oligarchs live in their own reality, with their own infrastructure all over the world.

We are a piggy bank to rape for private profit, not their society.

That's what happens when you let people accumulate society warping levels of capital to begin with. Beyond material desires, that's what capital is: power. Power to propagandize entire nations with for profit media, power to capture entire state and world governments, power to live above the Commons you destroy.

No one should be allowed to gather more power in a society than their single vote allows. This is why civilized nations have publicly funded campaigns, and trying to buy votes is still a crime. Other people live here. Thre should be a 100% wealth tax somewhere in the high double digit millions where you get a cake and a medal and a senator comes and shakes your hand for all future money going to repair and improve the commons like roads and education and HEALTHCARE that facilitated their rise to such astronomical success to begin with.

Citizens of the Nordic nations, the happiest people's on Earth, largely have no problem being taxed for success because they're educated to understand that their success is society's success, and they live in society so everyone wins. Hard work yields bigger homes and toys, but not sociopaths trying to buy half of Hawaii's beaches to lock their fellow citizens away from that lived there first away from them for example.

They chose live together, we choose die alone. Most people suffer under die alone. I wish Americans weren't so successfully propagandized into being hostile towards the very idea of society on the basis of "well you might be rich one day, and you don't want filthy poor people making you less rich when that happens, do you, you fucking sucker?"

[–] Pacattack57@lemmy.world 4 points 5 days ago (4 children)

Why does he look like Kim Jong Un in this picture 😂

[–] Linktank@lemmy.today 5 points 4 days ago

He's a fat fuck?

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