2020 US Presidential Election

[Juan]

Now the main problem in Europe, and probably the US as well, is inflation, and politicians and central bankers are doing absolutely nothing to deal with it.

Everyone is suffering the consequences... salaries are totally devaluated by inflation.

 

[Luman]

Biden's press conference is complete, utter nonsense and shows that he has no comprehension of what is going on, or what to do. He affects this creepy whisper, to answer questions. He attacked Mitch O'Connell and other Republicans and accused Trump of current political string-pulling in the Republican Party. Biden has informed Putin, in this press conference, that we are going to give the Ukrainians weapons but are not going to be able to prevent Russia from taking over Ukraine. He inferred that Bernie is a Socialist. When asked about polls that show he has a very low approval rating, he said that he does not believe the polls. When asked if he has over-promised, he said, "I didn't over-promise, but I have probably out-performed". Yes, he has done worse than any of us could have imagined.

 

[Diesel]

It has become obvious to the majority of Americans, and much of the world, that Biden and Harris are a complete failure, as leaders of the United States of America. The polls show what Americans think about it, and if Biden and Harris do not do something real fast, to change this situation before the Midterm elections are held, the Republicans are going to slaughter the Democrats.

I expected him to be bad, but he has far outdone that prediction - he's been absolutely terrible.

Let's see what he has to say, at his press conference in a little while.

So, we've had two failed presidencies in a row. I heard that if we get a third, we all get a free soft drink.

 

[Greg Sacramento]

I think it's all about who really controls - as half the buildings in Washington D.C. and surrounding areas are full of attorneys.

Immigration and civil rights attorneys are now making a bundle.

Donations from them, social media, unions, and loyalists are concerning. Microsoft can do no wrong, but Meta isn't kissing the Congress girls hard enough.

Left out is the elderly and disabled on a small, fixed income as there's no money for attorneys in representing them.

 

[Luman]

So, we've had two failed presidencies in a row. I heard that if we get a third, we all get a free soft drink.

Trump had this country running like clockwork before the pandemic. It was in no way, shape or form, even during the pandemic of 2020 before Biden was in, as bad as Biden has made it. He has failed at everything.

That whispering idiot, and the moron he selected as his VP, who is even worse than her boss, should both be sent out to pasture.

 

[Diesel]

Trump had this country running like clockwork before the pandemic. It was in no way, shape or form, even during the pandemic of 2020 before Biden was in, as bad as Biden has made it. He has failed at everything.

That whispering idiot, and the moron he selected as his VP, who is even worse than her boss, should both be sent out to pasture.

The amount of bias in this comment is so staggering, it's impressive. They both have done a not great job, it's ok to admit it. Both parties are doing a not great job.

 

[Luman]

The amount of bias in this comment is so staggering, it's impressive. They both have done a not great job, it's ok to admit it. Both parties are doing a not great job.

What has Biden done that was even "not great"? He has the vaccine, there is medical technology available to treat COVID-19 symptoms, which we cannot get access to, but other countries have. Biden has a COVID-19 death rate as high or higher than it was during Trump when there was no vaccine at all. During the 2020 election, Biden said that any president who had that many COVID-19 deaths, which was about 220,000 at the time, should not be in office. When Biden took office in 2021, one year ago, the COVID-19 deaths were about 395,000. Now, the total number of deaths is 858,000 and will reach a million before long. He cannot get things done, and more people will die because of this. To top it off, his mandates have only made matters worse for Americans, and the infection rates go very high at times. He is completely oblivious to the fact that he has failed, and thinks he's doing a great job.

He has screwed up the hospitals and workforces with mandates, and this "supply chain" phrase was never in existence during Trump's presidency, or before.

We have the highest inflation in decades, thanks to Biden, yet he wants to spend more money, a LOT of money, with his proposed BBB, on many things that are not smart to spend on, right now and, in some cases, never.

Biden cannot even hold a press conference properly without ruining it and making himself and this country look bad. Obama was not a great President, but at least he was understandable and was able to get some important things done, unlike Biden. Trump brought us a great economy, very low unemployment rates, a Middle East peace deal, and a lot more including the COVID-19 drugs in a very quick time period. Why we had to hand this country over to Biden and what's her name is incomprehensible to me.

 

[Luman]

Nobody that saw Biden on TV yesterday afternoon needs to read this, to know how bad his press conference went.

Biden's press conference was an utter disaster
January 19, 2022

If President Joe Biden's press conference Wednesday was supposed to inspire confidence, it failed — horribly.

Even though he spent most of it clearly calling on reporters from a list of "safe" questioners provided by his staff, he stumbled and bumbled and all too often made no sense at all. Plus, he repeated his bizarre "whisper shout" gimmick to emphasize certain points — when what it actually emphasizes is his age.

On that note, he kept walking down memory lane, reminiscing about how "in my day" cable news was like that; the Republican Party was like this, and so on. He's fighting old wars in his head, or maybe just confused about the modern world.

Yet he couldn't remember what he said last week, insisting he hadn't compared opponents of end-running the Senate filibuster rules to pass the nationalize-election-law bill to Bull Connor and Jefferson Davis. Yet minutes later he warned those same (Democratic!) senators that their supposedly infamous position will stick with them all the rest of their days.

Then there was his "confession" at the end that he "forgot" he's president, not a senator, as implicit explanation for his disastrous first year. But earlier he'd insisted he's done more than any other president in history. What the fudge?

His answers on Ukraine were particularly confused.

The issue is pretty straightforward: Vladimir Putin is threatening an invasion and will do it if he thinks he can get away with it; at the least, he'll try to get the West to bribe him by promising him much of what he wants without any fighting.

Biden seemed to offer one bribe by volunteering that NATO won't make Ukraine a member any time soon. Even if true, why limit your options?

Worse, at one point the prez suggested Putin "has no choice" but to invade because he's boxed himself in. At least, we think that's what Biden said, but his syntax made it impossible to say for sure.

Then, too, he outright said Putin would win, albeit at a heavy price: "The cost of going into Ukraine in terms of physical loss of life for the Russians — they'll be able to prevail over time, but it's going to be heavy."

Oh, and Biden suggested Russia might well get away with "a minor incursion." That's an invitation to take one piece of Ukraine now — and more pieces later. What a disaster. No wonder his staff does everything it can to keep him away from the press.

https://nypost.com/2022/01/19/bidens-press-conference-was-an-utter-disaster/

 

[Carlos1]

Where are all the Trump bashers from last year? We all knew Biden was incompetent and now they see it as well.

 

[Juan]

I think Biden has inherited the economic disastres and the huge bubble provoked by Donald Trump and his habit of telling the FED to systematically lower and lower... and lower interest rates, which has been a cancer for the economy and has totally devaluated salaries, and created huge asset bubbles.

 

[Luman]

Where are all the Trump bashers from last year? We all knew Biden was incompetent and now they see it as well.

This thread and the issues actually goes back to 2020.

The Trump haters who voted for Biden are not saying anything, because they know very well that Biden is a horrendous failure who is going enable Republicans to win in the Midterms, and probably in 2024 for President.

Excellent opinion article here, the author has advanced economic knowledge:

How Biden torched the Trump recovery
BY LIZ PEEK, OPINION CONTRIBUTOR — 01/20/22 08:00 AM EST

The White House celebrated its first-year economic achievements by tweeting: "When @POTUS and @VP were sworn in, our economy was on the brink of collapse."

That is a flat-out lie.

As Biden first set foot in the Oval Office a year ago, real GDP was growing at 6.3 percent, inflation was 1.4 percent, the price of gasoline was $2.39 a gallon and Michigan's consumer sentiment index stood at 79. Today, real growth has slowed to just over 2 percent, inflation is at 7 percent, gas is up to $3.31 a gallon and the Michigan Index is 68.8.

In addition, real wages dropped 2.4 percent over the past year, with inflation overwhelming pay hikes after several years of gains under President Trump.

In just one year, Biden has managed to torch an economy that was recovering robustly when he took office. One bad decision after another, compounded, to be sure, by certain events beyond his control, have scuttled the turnaround that was well underway the day he became president.

His major mistakes? Depressing oilfield investment, reversing U.S. oil output and leaving us at the mercy of OPEC and higher gasoline prices; stoking out-of-control federal spending with the Democrat-only American Rescue Plan (ARP), sidelining millions of workers and fueling an ongoing labor shortage; delivering mask mandates that have exacerbated that worker shortage; ignoring the resulting inflation until voters rebelled, demanding the Federal Reserve take what may be harsh measures to change course.

Those are just the high points.

Read more here:

https://thehill.com/opinion/finance/590451-how-biden-torched-the-trump-recovery

 

[Juan]

Very interesting comment regarding the incompetence of the European Central Bank and the complacency of German politicians while the European citizens are being ripped off:

"The rule of Law does not exist anymore in Germany

Scholz, the Bundesbank and the German Constitutional Court let Lagarde financing the Italian debt in clear breach of EU treaties and German law, so comdemning German citisens's savings to vanish at a 6% inflation rate"

 

[Luman]

Biden's press conference gets panned by critics: 'Total disaster'
One commentor quipped, 'Joe Biden didn't do a press conference for months. We all understand the reason why.'

President Biden spent most of 2021 avoiding press conferences, but he held one on Wednesday, which was panned as being a "total disaster."

The White House had high hopes for Biden's press conference on Wednesday — hoping to paint the administration as a less-cloistered outfit that embraces the public and transparency. With Biden's strikingly low popularity numbers, the president was expected to cast himself as a competent leader, who is in touch with the problems of everyday American voters.

But the debacle that took place behind the podium from the East Room of the White House on Wednesday did little to support that persona according to reaction to the press conference.

The president was criticized throughout his long remarks on issues related to Russian aggression towards Ukraine, his claim that he outperformed expectations, his outburst toward a reporter and more.

WH FORCED TO CLARIFY BIDEN'S STATEMENT ON RUSSIA

1. Russia-Ukraine 'minor incursion'

Perhaps the most startling comment of the evening was Biden's response to a question about the Russian invasion of Ukraine.

Biden said that while he believes an invasion is imminent, the United States is prepared to impose significant economic consequences should Russia move forward. But, he clarified, a "minor incursion" by the Russians would elicit a softer response from the U.S. than that of a full-scale invasion of Ukraine.

"Biden is attacking the legitimacy of American elections while signaling Putin to try a 'minor incursion' in Ukraine. None of this is normal. None of this is OK," National Review senior writer Dan McLaughlin responded.

"Biden just appeared to okay a 'minor' Russian incursion of Ukraine. So, invasion of an independent neighbor nation is bad. An incursion is OK with this president," conservative commentator Andrew Malcolm agreed.

"Biden's comments suggesting that a 'minor incursion' of Ukraine might not draw as vigorous a response as a full-scale invasion will trigger a lot of angst in the region, particularly in Kyiv," New York Times chief White House correspondent Peter Baker wrote.

"Why was there no pushback to Biden saying 'it's one thing if it's a minor incursion' re Russia going into Ukraine?" former White House press secretary and Fox News host Kayleigh McEnany weighed in.

"What kind of answer was that? No incursion is ok," Fox News contributor Ari Fleischer echoed.

https://www.foxnews.com/media/biden-press-conference-panned-critics-total-disaster

 

[Luman]

Time for Biden to return to the basement. Recent polls show that the majority of Americans disapprove of the job he is doing as president. His approval ratings are sinking like a lead balloon.

Biden said that he doesn't believe the polls.

Asked on Wednesday at a wide-ranging news conference about his flagging popularity, Biden responded, "I don't believe the polls."

Biden approval hits new low at one-year mark: AP-NORC poll
By AAMER MADHANI and HANNAH FINGERHUTtoday

WASHINGTON (AP) — President Joe Biden ends his first year in the White House with a clear majority of Americans for the first time disapproving of his handling of the presidency in the face of an unrelenting pandemic and roaring inflation, according to a new poll from The Associated Press-NORC Center for Public Affairs Research.

More Americans disapprove than approve of how Biden is handling his job as president, 56% to 43%. As of now, just 28% of Americans say they want Biden to run for reelection in 2024, including only 48% of Democrats.

Asked on Wednesday at a wide-ranging news conference about his flagging popularity, Biden responded, "I don't believe the polls."

It's a stark reversal from early in Biden's presidency.

In July, 59% of Americans said they approved of Biden's job performance in an AP-NORC poll. His approval rating dipped to 50% by late September in the aftermath of the chaotic and bloody U.S. military withdrawal from Afghanistan and amid surging coronavirus infections and the administration's fitful efforts to push economic, infrastructure and tax policies through Congress.

The latest poll shows that Americans' confidence in Biden's handling of the pandemic — seen as a strength early in his administration — has further eroded as the omicron variant strains the health care system and further exhausts an American electorate that had hoped life would be back to a semblance of normalcy by now.

Just 45% say they approve of Biden's handling of COVID-19, down from 57% in December and from 66% in July 2021.

Americans are even more downbeat about his handling of the economy, with just 37% approving. Growing angst about his economic policies comes as inflation rose at its fastest pace in nearly 40 years last month, a 7% spike from a year earlier that is increasing household expenses and eating into wage gains.

Only about a quarter were very confident that Biden "has the mental capability to serve effectively as president" or "is healthy enough to serve effectively as president." Close to half are not confident in Biden's mental capability or health.

Asked by a reporter at Wednesday's news conference about other polling that shows a significant percentage of Americans had concerns about Biden's mental health, the president shrugged off those findings.

The poll shows only about a quarter of Americans think the phrase "strong leader" describes Biden very well, while about that many say it's a somewhat good description. Roughly half say he is not a strong leader. Views of Biden's understanding of "the needs and problems of people like you" are similar.

Just 16% think Biden's presidency has made the country more united; 43% think it's more divided.

Overall, though, 28% of Americans say they have "a great deal of confidence" in Biden to effectively manage the White House, down from 44% who said that one year ago, just after Biden took office. Another 33% say they have some confidence, while 38% say they have hardly any confidence in Biden to manage the executive branch.

https://apnews.com/article/coronavi...th-inflation-6b6b0abfef867fc405e9f358ce2c3a09

 

[Juan]

Maybe the FED should make a move before March. Inflation is through the roof.

Powell and that useless Lagarde should resign.

 

[Juan]

The FED should raise interest rates TODAY.

 

[Luman]

Biden, the choice of anti-Trumpers and Europe, has threatened Russia, to not invade Ukraine, and it looks like they're responding to him with a middle finger. I hope that those who supported and voted for Biden are satisfied.

Russia Announces Deployment of Over 140 Warships, Some to Black Sea, After Biden Warning
Russia announced on Thursday the deployment of over 140 combat and supply ships, over 50 aircraft, 1,000 pieces of military equipment, and 10,000 military servicemen.

The Russian Defense Ministry said the Russian Navy will have a series of exercises in all zones of responsibility from January to February, according to the Russian news agency TASS.

"In accordance with a plan for training the Russian armed forces in 2022 a series of naval exercises will be held in January-February in all zones of the fleets' responsibility under the general guidance of the commander-in-chief of the Russian Navy, Admiral Nikolay Yevmenov," the news release says, TASS reported.

"The exercises will encompass seas washing Russia and also World Ocean areas of key importance. There will be some exercises in the Mediterranean and Northern seas and the Sea of Okhotsk, in the Northeastern Atlantic and in the Pacific," the Defense Ministry said, according to TASS.

Six amphibious assault ships from the Baltic and Northern fleets left the port of Baltiysk on January 15 to go to an area designated for an upcoming exercise, TASS reported.

A day before, there were reports of six Russian amphibious warfare vessels from the Northern and Baltic fleets passing through the English Channel, according to The Drive. Some expect the vessels to eventually reach the Black Sea.

TASS reported that the six vessels are now crossing the Northern Sea.

The announcement of the exercises comes after President Joe Biden made comments Wednesday suggesting that a "minor incursion" from Russia into Ukrainian territory may result in a more measured response from the United States and allies, according to The Associated Press.

"It's one thing if it's a minor incursion and we end up having to fight about what to do and not do," Biden told reporters during an East Room news conference, CNN reported. "But if they actually do what they're capable of doing with the forces amassed on the border, it is going to be a disaster for Russia if they further invade Ukraine."

Biden said he drew the line at "Russian forces crossing the border, killing Ukrainian fighters," when later asked to clarify his meaning of "minor incursion," according to CNN.

On Thursday, Biden made new comments regarding a Russian invasion into Ukraine, AP reported.

"I've been absolutely clear with President Putin," Biden said, according to AP. "He has no misunderstanding: Any, any assembled Russian units move across the Ukrainian border, that is an invasion."

He added that should an invasion occur, it would be met with a "severe and coordinated economic response," AP reported.

https://www.newsweek.com/russia-ann...ps-some-black-sea-after-biden-warning-1671447

 

[Paul1980]

Now the main problem in Europe, and probably the US as well, is inflation, and politicians and central bankers are doing absolutely nothing to deal with it.

Everyone is suffering the consequences... salaries are totally devaluated by inflation.

True but higher salaries are leading to inflation as well. Doing absolutely nothing? Really? Well, what else do you do when people are calling in sick? Or quitting? You can tell people to wear a mask but if they don't, what do you do? You can tell people to take a vaccine, but when the don't and they stress your Health system, what do you do?

As far as Biden goes, you see the difference is I can criticize him without worry about Brown shirt Trumpsters coming after me. And while they do damage control, they can admit their mistakes, and they don't need to apologize for coddling white nationalists. Unfortunately that is the bar that has been set.

Do I wish Biden would insult people? Yes, I do, because that is what is needed. Is he really that clueless as to what Republicans want? Total power, money, and controlling women. They don't want black or hispanics to vote, unless they vote Republican, which overall they do not. It is pretty obvious. Yet we have nice, polite, "everyone is a good guy" Biden. That is just who he is.

I voted for Warren in the primary. She would have told it like it is. But again, Biden better than Trumpler.

 

[Luman]

I voted for Warren in the primary. She would have told it like it is. But again, Biden better than Trumpler.

Yes, Warren tells it like it is - she lied about being an Indian for 30 or 40 years, to take advantage, and then she was ready to run the country like it's her own tribe, lol.

Warren would have been better than Biden, but then again most anybody, other than Harris, would be.

 

[Juan]

True but higher salaries are leading to inflation as well. Doing absolutely nothing? Really? Well, what else do you do when people are calling in sick? Or quitting? You can tell people to wear a mask but if they don't, what do you do? You can tell people to take a vaccine, but when the don't and they stress your Health system, what do you do?

As far as Biden goes, you see the difference is I can criticize him without worry about Brown shirt Trumpsters coming after me. And while they do damage control, they can admit their mistakes, and they don't need to apologize for coddling white nationalists. Unfortunately that is the bar that has been set.

Do I wish Biden would insult people? Yes, I do, because that is what is needed. Is he really that clueless as to what Republicans want? Total power, money, and controlling women. They don't want black or hispanics to vote, unless they vote Republican, which overall they do not. It is pretty obvious. Yet we have nice, polite, "everyone is a good guy" Biden. That is just who he is.

I voted for Warren in the primary. She would have told it like it is. But again, Biden better than Trumpler.

Central bankers have created huge asset bubbles and a stock market bubble. Today the NASDAQ is falling, and this is just for starters... NASDAQ could fall 30% more and still be expensive. And same goes for real estate prices, which are crazy only due to money printing and artificially low interest rates.

 

[Paul1980]

Central bankers have created huge asset bubbles and a stock market bubble. Today the NASDAQ is falling, and this is just for starters... NASDAQ could fall 30% more and still be expensive. And same goes for real estate prices, which are crazy only due to money printing and artificially low interest rates.

Nope, not entirely. Demand and Supply of housing.

 

[Juan]

Nope, not entirely. Demand and Supply of housing.

So those people buying 100 "doors" to rent out, on artificially low interest rates, are natural "demand and supply", in your opinion?

With the inflation at 7% interest rates should be at least at 4%, and they are at zero percent. That's just economic manipulation by central banks. The FED should raise interest rates now, instead of waiting till March.

 

[Ed209]

With the inflation at 7% interest rates should be at least at 4%, and they are at zero percent. That's just economic manipulation by central banks. The FED should raise interest rates now, instead of waiting till March.

Your understanding of the current economic situation is all over the place. Here's the problem in a nutshell: the US has printed 40% of their entire monetary supply in the last year. Let that sink in. The issue, as we know, is that when you inflate a currency like this you fundamentally debase its value. There is so much money in circulation and not enough products and services being created to stop consumer prices from rising rapidly.

The reason the FED is trapped is that they cannot raise the rates above circa 2% without bankrupting the government. They need artificially low rates to service their gargantuan public debt which is currently at around 127% debt-to-GDP. This means that each US taxpayer owes around $250k. The government would rather bankrupt the public by destroying the value of the dollar than default on their debt. It doesn't take a genius to figure this out. They came very close to defaulting just two months ago, but they did the predictable, they raised the debt ceiling and created the infrastructure bill.

The reserve status of the dollar means that they can have massive trade deficits. This allows your average US citizen to consume a lot, but not produce a lot, because the rest of the world is willing to produce for the dollar because of its reserve currency status. If that status goes, it will become just a piece of paper and the US living standards will decline sharply.

The last time inflation was running away like this, Paul Volcker raised the interest rates to 20% to stop it, but their debt-to-GDP at the time was 32%. Good luck with that strategy now. They cannot afford to service their debt unless it remains near zero.

Just look at the last time they tried to raise the rates in 2018. The FED are supposed to be impartial (with no political ties), but as soon as the markets starting going down, they backtracked (obvious political pressure). They will gauge how much they can get away with by watching the markets again like they always do. Nothing will change.

They need to raise the rates significantly if they want to fight this inflation, but they can't without bankrupting the government. That's the reality of the situation.

 

[Greg Sacramento]

I recently talked to an old college friend who is a lobbyist for the elderly and elderly disabled. He was once one of the most respected lobbyists in the country.

He talked about how this administration is under the control of thousands of immigration, civil rights, social nonprofit, social corporate, media and union attorneys. Tons of money is being made by these attorneys to represent free stuff, but not for the disabled and elderly. Some of these attorneys are employed by government. The present administration likes this as they see more votes and control. All this is Socialism and is a driver behind inflation.

He mentions that is no concern for the retired elderly with little fixed income and the retired with disabilities and/or tinnitus. Older people are being abused by entire systems, by nursing homes, by tax laws, by medical providers and by medical insurance. Many elderly and elderly disabled cannot afford eye, dental and tinnitus care.

 

[Juan]

Nope, not entirely. Demand and Supply of housing.

This is a UK example of how ultralow interest rates have distorted and manipulated the real estate market:

Build to rent's glitzy goldrush raises fears for social housing

Huge companies got into build to rent only because those irresponsible central bankers left them no other option, with public debt yielding almost nothing due to the absurd interest rates, zero interest at the same time inflation is at 40 year highs.

 

[Juan]

Nope, not entirely. Demand and Supply of housing.

There are lessons for the build-to-rent developers from elsewhere in Europe. In Germany, Berliners last year voted on a controversial property expropriation bill to take 240,000 properties, or 11% of all apartments in Berlin, from corporate landlords.

 

[Ed209]

Real inflation is higher than 7%. The government cherry pick their figures from the CPI. I've been saying this for years. Something has got to give.

 

[Luman]

The number of COVID-19 deaths is now 864,000. Joe Biden's biggest campaign promise was to solve the COVID-19 crisis. He has failed. There were less than half the amount of COVID-19 deaths before he took office, before the vaccines, than there have been since he was inaugurated in January 2021.

Joe Biden on coronavirus: "220,000 Americans dead. If you hear nothing else I say tonight, hear this...Anyone who's responsible for that many deaths should not remain as president of the United States."

 

[Juan]

They came very close to defaulting just two months ago, but they did the predictable, they raised the debt ceiling and created the infrastructure bill.

That's not new. The US has been doing that for decades. There is always a new "debt ceiling".

The thing is Biden is going to get kicked out soon if the FED does not raise rates. And the same goes for every government in Europe if they do not force the ECB to make a move and raise rates now. There will not be a single government that wins re-election.

The next one to be kicked out is Emmanuel Macron.

There is also the possibility that the US taxes its tech billionaires who do not pay any tax. After all, they are the main beneficiaries of all this money printing. They could at least return some of the casino money the FED created for them.

 

[Ed209]

The thing is Biden is going to get kicked out soon if the FED does not raise rates.

The FED is supposed to act independently, but how can they raise the rates to a level sufficient enough without bankrupting the US government? The fallout from that would be devastating, and that's the dilemma they now face for printing endless amounts of free money. Have you ever wondered why they haven't raised the rates already, and why they constantly use delay tactics? It's because they can't afford to service the debt at a higher rate.