The Briefing Room
General Category => Economy/Business => Topic started by: IsailedawayfromFR on July 19, 2021, 07:23:20 pm
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President Joe Biden defended his administration’s handling of the economy Monday even as the stock market plunged more than 900 points.
“Our economy has come a long way over the last six months,” Biden boasted. “It can’t slow down now.”
Biden spoke as the Dow Jones Industrial Average fell more than 700 points before he began speaking and continued to drop further to a 900 point collapse after he finished.
The president described economic progress in the United States under his presidency as a “boom,” despite continued widespread unemployment and labor shortages.
“We can make this boom we’re experiencing today one that will ensure that all Americans have an opportunity to share in it for years to come,” he said.
When asked about the stock market plunge, Biden noted that the market was still at record high levels.
“Look, the stock market is higher than it has been in all of history — even went down this month,” he said to reporters. “I don’t look at a stock market as a means by which to judge the economy like my predecessor did.”
Biden also defended his planned spending proposals of up to $6 trillion as “sustainable investments with appropriate financing” that would help make the country more productive by providing free child care, elder care, and paid leave to help more Americans enter the labor force.
“That won’t increase inflation. It will take the pressure off of inflation,” Biden said. “Give a boost to our workforce which leads to lower prices in years ahead.”
Biden addressed concerns about economic inflation, arguing the price increases for many goods and services across the country were “temporary.”
(https://media.breitbart.com/media/2021/06/Joe-Biden-on-Latinx-Vaccinations-640x480.jpg)
https://www.breitbart.com/economy/2021/07/19/joe-biden-boasts-economic-boom-dow-falls-more-900-points/
Looks to me he was chuckling when he made that boast.
He is indeed insane.
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Has somebody been slipping LSD into his ensure?
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Joe Biden Boasts of Economic ‘Boom’ as Dow Falls More than 900 Points
Charlie Spiering 19 Jul 2021
President Joe Biden defended his administration’s handling of the economy Monday even as the stock market plunged more than 900 points.
“Our economy has come a long way over the last six months,” Biden boasted. “It can’t slow down now.”
Biden spoke as the Dow Jones Industrial Average fell more than 700 points before he began speaking and continued to drop further to a 900 point collapse after he finished.
The president described economic progress in the United States under his presidency as a “boom,” despite continued widespread unemployment and labor shortages.
“We can make this boom we’re experiencing today one that will ensure that all Americans have an opportunity to share in it for years to come,” he said.
When asked about the stock market plunge, Biden noted that the market was still at record high levels.
“Look, the stock market is higher than it has been in all of history — even went down this month,” he said to reporters. “I don’t look at a stock market as a means by which to judge the economy like my predecessor did.”
more
https://www.breitbart.com/economy/2021/07/19/joe-biden-boasts-economic-boom-dow-falls-more-900-points/
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Fact Check: Biden Claims ‘No Serious Economist’ Is Worried About Inflation
John Carney19 Jul 2021156
1:34
Claim: “There’s nobody suggesting there’s unchecked inflation is on the way. No serious economist,” President Joe Biden said on Monday.
Verdict: False.
Larry Summers is worried about inflation. He has been the Treasury Secretary under Bill Clinton, director of the National Economic Council under Barack Obama, chief economist of the World Bank, and president of Harvard University. He is one of the most prominent economists in the United States today.
Summers has been warning that the Biden administration’s policies risked inflation and overheating several months ago, a topic he returned to on Twitter last week.
more
https://www.breitbart.com/economy/2021/07/19/fact-check-biden-claims-no-serious-economist-is-worried-about-inflation/
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The Stock Market Tumbles and Joe Biden’s Response Is Unbelievable
https://twitter.com/charliespiering/status/1417149328607621124
https://twitter.com/Forbes/status/1417161501685780483
more
https://redstate.com/bonchie/2021/07/19/the-stock-market-tumbles-and-joe-bidens-response-is-unbelievable-n413091
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Joes sailing on that river in Africa.
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Joes sailing on that river in Africa.
You mean De Nile?
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You mean De Nile?
That is the one!
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Joe doesn't have a clue. As long as he gets his nightly twinkies and a warm glass of milk at night, not a whole lot else matters.
I think we are entering more than a correction. Inflation is going to continue and the 'infrastructure bill' is packed full of DEM goodies. The economy will get as bad if not worse as it was under Carter and those making $17 hr. at McD's are going to lose their jobs and that will be just the beginning.
...then there's the issue of the millions that are pouring over our borders expecting a free ride .... the scenario isn't sustainable. Oh, but the DEMS will get their vote, so there's no outlook for a reversal anytime soon. We are on a downward spiral ....
Socialism hasn't worked in the past, isn't working now and sure as heck won't work in the future!
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....ok....I'll just chalk this one up to Joe is just not all there. What he's saying isn't even remotely logical.
Biden insists massive government spending will tamp down inflation
https://www.foxbusiness.com/politics/biden-inflation-government-spending
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From the article…
Biden also defended his planned spending proposals of up to $6 trillion as “sustainable investments with appropriate financing” that would help make the country more productive by providing free child care, elder care, and paid leave to help more Americans enter the labor force.
“That won’t increase inflation. It will take the pressure off of inflation,” Biden said. “Give a boost to our workforce which leads to lower prices in years ahead.”
So more printed dollars chasing fewer goods won’t increase prices?
Keep in mind that this is the same guy who said Barack Obama‘s stimulus will create 5 to 600,000 jobs a month