Biden telling folks how great the economy is

[VitaMan]

You can blame people for events they have no control over, and get nowhere but satisfy yourself.

The real developing story is that inflation may be tamed by the summer of 2024. A few months before the 2024 election.

If that happens, who will be blamed for that ?

[ICU 812]

Another economic marker of inflation is the price of gold.

Way back in the mid 1990s, the price of gold was roughly $250 to $300 per troy ounce. In those years, I was able to buy some nice pieces of jewelry. I do understand that everything else was cheaper then, but this is one solid marker.

In those thirty years, other presidents besides just President Biden pumped huge amounts of borrowed money into the economy. Part of that was called "Qualitative Easing". I will not pretend to tell anyone exactly how that worked. I give credit to Lucas McCaine on this board for being possibly (probably) the only one who can.

To make my admittedly fuzzy point here: The current price of gold has hovered just at or just below $2,000 per ounce for some time now. This Christmas there will be a nice Coffee Maker under the tree.

So, over the past thirty years, the inflation in the price of gold is something like 7 or 8 times depending on exactly what numbers you use. How does that compare with other markers of inflation?

I do not have a sophisticated knowledge of economics, b ut the way I see it, it is not the cost of goods that have risen so much as it is the drop in the value of our money.

[greenbook]

The economy is performing spectacturly great in terms of GDP and unemployment. i get richer every day

[The_Waco_Kid]

Originally Posted by greenbook

The economy is performing spectacturly great in terms of GDP and unemployment. i get richer every day

if you say so

[ICU 812]

Originally Posted by VitaMan

You can blame people for events they have no control over, and get nowhere but satisfy yourself.

The real developing story is that inflation may be tamed by the summer of 2024. A few months before the 2024 election.

If that happens, who will be blamed for that ?

What-ever. If that does come to pass and inflation is "tamed", a Saturday outing with the grand kids, fast-food drive through, Movie and frozen yogurt will still be around $100!



The cost of everything will still be up around 17% from 2019, but myh retirement income will not have also inflated by 17%.

[Precious_b]

Originally Posted by Salty Again

... President Biden's economy has be a DISASTER! ...
His presidency has brought war, poverty and weakness.
While the President on before him brought peace, prosperity and strength.

#### Salty

Really? War? Show us where joey used Congress or sent the Marines to fight? Deployments happen all the time. Show us where he specifically sent troops into the fray.

Poverty? From what the article states, "...In only 3 states out of 50 have state poverty rates increased over the 10 years from 2012 to 2022. ..."
And those three are solidly republican. Guess their representatives are still sitting on their thumbs on the Hill serving themselves and not their constituents.

Weakness? Show where we have ceded something of tangible value.


Myself, I don't like how spending is going currently. But there are things that I know that have to be addressed and I won't like how that is done. But as long as it corrects issues, I can swallow hard and ride it out.

[Submodo]

MMcDONALD'S REPORTS THIRD QUARTER 2023 RESULTS

Diluted earnings per share was $3.17, an increase of 18%
Comparable sales results benefited from strong average check growth driven by strategic menu price increases

https://www.prnewswire.com/news-rele...301970540.html