Biden presiding over USA’s dwindling to world alsoran

[RickWA]

Saudis working with China to ditch the petrodollar. “Brazil, China strike trade deal agreement to ditch US dollar”. Not only is our currency devalued…it is being actively warred against and increasingly abandoned.

This is not a small thing.

Looks like some folks are getting their wish that America take its place among the indistinguishable “average” nations. Whittle it all down to a pedestrian nub.

 

[RickWA]

Saudis working with China to ditch the petrodollar. “Brazil, China strike trade deal agreement to ditch US dollar”. Not only is our currency devalued…it is being actively warred against and increasingly abandoned.

This is not a small thing.

Looks like some folks are getting their wish that America take its place among the indistinguishable “average” nations. Whittle it all down to a pedestrian nub.

You think we have inflation now? As the petrodollar is increasingly abandoned, those dollars return home - a vast OCEAN of dollars profoundly diluting the already sinking American Dollar. Hence, in addition to altogether dethroning America as world international economic driver, our very currency itself will be dramatically devalued.
Why have we not headed this crap off…dispatching leadership to places like Argentina, Brazil, India, Saudi Arabia, etc. - all countries actively persuaded directly by CHINA to recalibrate transactions to Chinese currency?

Why is no one in this forum ever curious about actual significant threats to the USA? No one posts on this sort of thing. It’s all top posted “junk food” here.

 

[Raoul_Luke]

Thanks for posting this Rick - I was just about to. I see the usual suspects are giving it a wide berth. After all, if they acknowledge that this is happening it calls into question their incessant cheerleading over Biden incinerating a half trillion $ in Ukraine. This dollar destruction is a direct outgrowth (motive and means) of that idiotic misadventure. The lefty historians will have a tough time papering over this disaster.

 

[RickWA]

Thanks for posting this Rick - I was just about to. I see the usual suspects are giving it a wide berth. After all, if they acknowledge that this is happening it calls into question their incessant cheerleading over Biden incinerating a half trillion $ in Ukraine. This dollar destruction is a direct outgrowth (motive and means) of that idiotic misadventure. The lefty historians will have a tough time papering over this disaster.

I sincerely believe this is intentional. Obama frequently lamented America’s leadership position in the world - economically and militarily. He is now presiding over a correction of this “injustice” (via his proxy).

And the incurious hordes continue fluff posts - in part because they are vacuous morons…and in part because they share the Obama view and support American decline.

 

[Dawg]

America is going down like the Titanic just as the left dreamed of it doing

Joe Biden’s America is splitting at the seams (msn.com)

They don't realize they can't swim

 

[middleview]

America is going down like the Titanic just as the left dreamed of it doing

Joe Biden’s America is splitting at the seams (msn.com)

They don't realize they can't swim

You ignore the fact that the previous president was the most divisive ever.

 

[Number_58]

You ignore the fact that the previous president was the most divisive ever.

What does that have to do with the current fiscal irresponsibility of Biden and the Democrats who controlled Congress over the worst economic performance our country has seen since Jimmy Carter...and soon will move Jimmy Carter out of the "Worst President Of All Time" spot?

 

[middleview]

What does that have to do with the current fiscal irresponsibility of Biden and the Democrats who controlled Congress over the worst economic performance our country has seen since Jimmy Carter...and soon will move Jimmy Carter out of the "Worst President Of All Time" spot?

Really? Worse than 2007/2010? We hit 10% unemployment and the GDP dropped by 8%. How many thousands of people lost their homes to foreclosure?

You claim the worst economy since 1980. In fact, Reagan hit 10.8% unemployment in 1982.

We have record low unemployment. If you think the worst thing that can happen is to have inflation or high gas prices...you clearly don't give a shit about people losing their jobs.

 

[Dawg]

What does that have to do with the current fiscal irresponsibility of Biden and the Democrats who controlled Congress over the worst economic performance our country has seen since Jimmy Carter...and soon will move Jimmy Carter out of the "Worst President Of All Time" spot?

Let me guess, he posted of everything but the topic

 

[Number_58]

Really? Worse than 2007/2010? We hit 10% unemployment and the GDP dropped by 8%. How many thousands of people lost their homes to foreclosure?

You claim the worst economy since 1980. In fact, Reagan hit 10.8% unemployment in 1982.

We have record low unemployment. If you think the worst thing that can happen is to have inflation or high gas prices...you clearly don't give a shit about people losing their jobs.

What's the labor force participation rate right now? Unemployment numbers are bullshit data...the government can and does manipulate them to say whatever narrative they want. Don't feed me unemployment bullshit.

 

[Number_58]

Let me guess, he posted of everything but the topic

Basically. He wants to focus on unemployment numbers...the most worthless statistic spewed by any politician. Says inflation and high gas prices aren't an important measure.

Watch him say the LFPR being lower is because everyone retired...that's their go to when unemployment gets removed from the equation. See it just so happens that after the COVID lock downs, the 60-65 year old population became vastly wealthy and decided they didn't need to go back to work...even though the data says different.

Older Americans Go Back to Work in Next Frontier of Labor Force

Julie Diaz stepped down from her job as a legal secretary last spring. Her retirement ended up being short, and not so sweet.

www.bloomberg.com

 

[middleview]

Let me guess, he posted of everything but the topic

once again...you don't know what the topic is.

 

[Dawg]

Basically. He wants to focus on unemployment numbers...the most worthless statistic spewed by any politician. Says inflation and high gas prices aren't an important measure.

Watch him say the LFPR being lower is because everyone retired...that's their go to when unemployment gets removed from the equation. See it just so happens that after the COVID lock downs, the 60-65 year old population became vastly wealthy and decided they didn't need to go back to work...even though the data says different.

Older Americans Go Back to Work in Next Frontier of Labor Force

Julie Diaz stepped down from her job as a legal secretary last spring. Her retirement ended up being short, and not so sweet.

www.bloomberg.com

No one that owns a business around here, especially restaurants are saying what he said, employees are all but impossible to find, one restaurant that's been open since 70's and always full have cut their hours way back due to not being able to find employees and not due to high employment it's due to many will not work.

If Topic is Biden that lil' shut-in will always jack the topic and keeps rplying to me Begging for me to reply to him

 

[Number_58]

No one that owns a business around here, especially restaurants are saying what he said, employees are all but impossible to find, one restaurant that's been open since 70's and always full have cut their hours way back due to not being able to find employees and not due to high employment it's due to many will not work.

If Topic is Biden that lil' shut-in will always jack the topic and keeps rplying to me Begging for me to reply to him

Yeah...prepare for all our posts below his to get the "rofl" emoji. That's his other go to...nothing changes around here.

 

[RickWA]

Yeah...prepare for all our posts below his to get the "rofl" emoji. That's his other go to...nothing changes around here.

Ok, that last comment cements who it is you’re talking about. Good grief, that guy. Imagine that sad existence…relegated to assigning laugh emojis to peoples’ posts, having increasing numbers of posters tuning him out, etc.

Presumably, he’s burrowed into this thread and is busily changing the subject? What else is new.

 

[RickWA]

Saudis working with China to ditch the petrodollar. “Brazil, China strike trade deal agreement to ditch US dollar”. Not only is our currency devalued…it is being actively warred against and increasingly abandoned.

This is not a small thing.

Looks like some folks are getting their wish that America take its place among the indistinguishable “average” nations. Whittle it all down to a pedestrian nub.

Geeze!
https://www.msn.com/en-us/money/markets/the-us-dollar-is-about-to-stare-into-the-abyss-and-will-likely-keep-dropping-after-a-losing-month-analyst-says/ar-AA19jSsW?li=BBnb7Kz

“The US Dollar Index has declined 2.57% in March, notching four losing weeks out of the last five.”

Let me guess: “Unemployment! Unemployment! Aaack, aaack!”

 

[middleview]

Yeah...prepare for all our posts below his to get the "rofl" emoji. That's his other go to...nothing changes around here.

You complain when I respond and then whine when I am laughing at you. What you need is a blog where everyone agrees with you.

 

[middleview]

No one that owns a business around here, especially restaurants are saying what he said, employees are all but impossible to find, one restaurant that's been open since 70's and always full have cut their hours way back due to not being able to find employees and not due to high employment it's due to many will not work.

If Topic is Biden that lil' shut-in will always jack the topic and keeps rplying to me Begging for me to reply to him

Of course it would be Biden's fault that it is hard to find workers...and not the fact that unemployment is so low.

 

[middleview]

No one that owns a business around here, especially restaurants are saying what he said, employees are all but impossible to find, one restaurant that's been open since 70's and always full have cut their hours way back due to not being able to find employees and not due to high employment it's due to many will not work.

If Topic is Biden that lil' shut-in will always jack the topic and keeps rplying to me Begging for me to reply to him

 

[middleview]

Basically. He wants to focus on unemployment numbers...the most worthless statistic spewed by any politician. Says inflation and high gas prices aren't an important measure.

Watch him say the LFPR being lower is because everyone retired...that's their go to when unemployment gets removed from the equation. See it just so happens that after the COVID lock downs, the 60-65 year old population became vastly wealthy and decided they didn't need to go back to work...even though the data says different.

Older Americans Go Back to Work in Next Frontier of Labor Force

Julie Diaz stepped down from her job as a legal secretary last spring. Her retirement ended up being short, and not so sweet.

www.bloomberg.com

Ok, let's talk about the LFPR. Notice the huge drop in 2020. It is slowly recovering.

What Has Driven the Labor Force Participation Gap since February 2020? - Liberty Street Economics

The U.S. labor force participation rate (LFPR) currently stands at 62.5 percent, 0.8 percentage point below its level in February 2020. This “participation gap” translates into 2.1 million workers out of the labor force. In this post, we evaluate three potential drivers of the gap: First...

libertystreeteconomics.newyorkfed.org

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