DawgTalkers.net Forums DawgTalk Palus Politicus The economy……

I stopped at you thinking Ukraine can’t get the job done with our hardware aid only. I think that’s dead wrong. We should send them everything we can to defeat him. And that money is barely a blip on the radar for us. Compared to the 8 trillion Trump added to the deficit. And it wasn’t an insult to you as a popster, but I was hating on but what sounded like the Trumpian rhetoric that makes you think that, that disgusted me. Trump is actively campaigning on the same crap.

Best get going then. Ukraine's accepting men over 60 with no combat experience in their military. The Ukrainian First Lady posted a picture of an 80 year old in the enlistment line on X/Twitter.

You using the rhetoric line on me seems kind of funny. You're saying send them everything. Oh, but not troops. Talk about empty rhetoric.

If they're desperate enough to use old men, it would appear that what they desperately need more of are troops.

Trump's still a vile idiot, unfortunately not without a certain low cunning.

If I were to get hung up on any of that, it would be the ammo. IIRC, there were some articles I read that said fully supplying Ukraine with certain types of ammo they needed could strain our supply chain and potentially put us in a tough spot if we had to respond (militarily) to an issue of our own.

For the most part, and especially for the higher-ticket items, we sent them stuff that are replaceable or would be in the near future.

Unfortunately the other way is for Ukraine to negotiate peace with Russia which won’t stop Putin to take more territory possibly into NATO countries. Which will mean more war for these companies to succeed financially. Playing to their hands as well as Putins.

It's only just occurred to me that this is the wrong thread.

Bull, I've moved my post to the Ukraine thread.

Unfortunately, war and economies (and politics) are quite intertwined, and the economic (and thus politics) side is all too often in the driver's seat.

That's not the only other way. It might be the only other way that you acknowledge from your "ivory tower."

We didn't take out Bin Laden by sending someone else weapons and munitions. We sent in a SEAL team. If you want to call Putin a duly elected leader, go for it. I think it's pretty clear that there was nothing legitimate about that election. Declare him a terrorist and war criminal, and do what needs to be done. A mad man threatening nuclear retaliation if there's interference with his crimes needs to be put down.

Bro we don’t need to get into that s show. The only people that can put down Putin is the Russian people. But they are too weak to revolt.

A very small fraction of the defense budget isn't driving anything. Micro isn't macro.

Ahhh, more empty rhetoric.

We've helped regime change quite a few times. Neither of us has to like it.

When it comes to elections, small things can be big things.

In other words a small fraction of the defense budget doesn't really matter other than using it for political fodder? If so I agree.

That's certainly one way to twist it to fit your agenda.

Unfortunately, one can also twist it the other way and say the Democrats are only pushing this "insignificant" bill to score political points with full knowledge that it won't be enough.

This is a big deal and alot of the money will be spent in Ohio. We need to continue on more manufacturing in this country-

https://www.dispatch.com/story/busi...o-help-new-albany-expansion/73028672007/


Intel, White House announce new subsidies for now $28 billion New Albany chip plants
Mark Williams
Columbus Dispatch

U.S. President Joe Biden announces a multi-billion dollar grant for CHIPS manufacturing while visiting Intel's manufacturing campus in Chandler, Arizona on Wednesday.
Intel has landed $8.5 billion in federal subsidies and is eligible for up to $11 billion in low-cost loans to help the semiconductor giant finance its $100 billion building spree across the country, including its project in New Albany that will become a regional cluster for U.S. chipmaking, the Biden administration and Intel announced Wednesday morning.

The preliminary award is the largest from the federal CHIPS and Science Act that was passed in 2022. The legislation provides $52.7 billion in federal aid to restore manufacturing of the tiny devices to the U.S. considered vital to the economy that has been largely shipped overseas in past decades.

"This will mark one of the largest investments ever in U.S. semiconductor manufacturing," Commerce Secretary Gina Raimondo told reporters.


"We think this is a defining moment for the United States, the semiconductor industry and Intel," Intel CEO Pat Gelsinger said.

The grants and loans along with a 25% investment tax credit included in the legislation will help Intel with what its now says is a $28 billion project, up from $20 billion initially, in Licking County, where it is building two factories along with expansions in Arizona, New Mexico and Oregon.

The Commerce Department would not say how much Intel is getting for the Licking County project, indicating that its approach was a more holistic look at all of Intel's U.S. operations.


Gelsinger said Intel expects the company to receive benefits totaling more than $25 billion from the tax credit, reflective of what he says is more than $100 billion in qualified investments that the company is making over the next five years.

He said the low-cost loans come with favorable terms that will help drive Intel's investment.


The award is part of the Biden administration's push to manufacture leading-edge chips in the U.S. needed to power advanced technologies such as artificial intelligence and machine learning. Right now, the U.S. designs these chips but doesn't make any here, said Raimondo, who has set a goal of manufacturing 20% of these chips in the U.S. by 2030.

"We rely on a very small number on a factories in Asia for all of our most sophisticated chips," Raimondo said. "That’s untenable and unacceptable. It’s an economic security problem. It’s a national security problem, and we’re going to change that."


Intel to create 30,000 jobs nationwide
The president formally announced the award to Intel on Wednesday in Arizona, where the company is building two factories and modernizing a third one at its campus in the Phoenix suburb of Chandler.

The Biden administration's targeted investments in U.S. industries, which the White House has dubbed the Investing in America program, have "ignited a manufacturing boom in America, a clean energy boom, a jobs boom, all here in America, finally," the president said in Arizona.

Intel's expansion at its four campuses in the U.S. is expected to create 30,000 jobs and tens of thousands of indirect jobs, according to the Biden administration.


In Ohio, Intel is expected to create 3,000 manufacturing jobs in Ohio, 7,000 construction jobs and an estimated 10,000 indirect jobs. The $28 billion investment is the largest in state history.

Intel has spent $1.5 billion and hired 69 workers through 2023 and has committed to an additional $3 billion in spending on the project, according to a report filed by the company with the state.


Intel also is receiving more than $2 billion in incentives from Ohio and New Albany.

When the Intel project was announced for Licking County, the company anticipated starting production in 2025. Now it expects construction of both plants to be finished in 2026-27 and to become operational in 2027-2028.

Gelsinger told reporters Tuesday night that the Ohio project remains a track that the company indicated was possible when work began.

"The factory is being built today," he said. "If you show up at the site, we're taking a field and turning into the most modern manufacturing location in the Intel network."

Money to be awarded later this year
The Commerce Department said it expects money to begin flowing before the end of the year after final details with Intel are worked out.

The awards are conditioned upon Intel hitting milestones along the way, including its commitment to work with state and local agencies, labor unions, and colleges and universities to develop and train workers for jobs created by the investment.


The Biden administration has declared Columbus a workforce hub meant to train workers for the jobs in the region by such companies as Intel and Honda's electric battery plant with LG Energy in Jeffersonville, and Intel previously announced a $100 million commitment to local and national higher education programs over the next decade.

The Commerce Department said Intel's building spree wouldn't be possible without the aid, and Gelsinger said there likely will need to be a second CHIPS act to continue the work of bringing back production to the U.S. where costs are higher than in Asia.

"We need to build the best stuff," he said. "We have to get back to leadership."

Ohio leaders applaud CHIPS award
A bipartisan group of political, business and labor leaders praised the announcement on Wednesday.

"Clearly, we're going to get a good share of this money," said Gov. Mike DeWine, a Republican. "This should be looked at as a very happy day in Ohio. We continue to have the money to keep this great project going."


"It's going to allow this project to reach its full potential," said Sen. Sherrod Brown, a Democrat.

“I’ve never see this in my 37 years in the building trades,’’ said Mike Knisley, secretary-treasurer of the Ohio State Building and Construction Trades Council.

"We are going to be building for a long time," said Steve Stivers, president of the Ohio Chamber and former Republican congressman.

It has nothing to do with twisting anything. It was both parties that supported efforts in Ukraine. Until one faction of one party decided not to. If you wish to point fingers maybe you should point them at the side who changed their mind for political gain. Not those that have stayed the course. And those that have stayed the course are members of both parties. So I guess according to your supposition the Republicans still working to give military aid to Ukraine must be conspiring with the Democrats.

You can not support that a small fraction of our defense spending is accomplishing many of the claims you have made and it's also quite unrealistic to claim many Republicans still supporting aid to Ukraine are working along side Democrats to further the Democrats political agenda. There was a time in our country where supporting democracies was a fundamental foundation of the Republican party. Now the crazy faction among them have reared their ugly heads and claim one of the very principals they stood for is no longer valid.

Doing the same thing over and over that isn't working is the definition of insanity. Unfortunately, too many people have trouble realizing when something isn't working.

Unfortunately, a certain segment of our country seems to believe that the answer to every problem is throw more money at it.

But it was working until they were no longer given the military equipment to defend themselves. Unfortunately the current circumstances we see now were manufactured by the far right tying up that aid and as a a result people say, "See, they are failing!"

I already addressed this in the war thread. Let's try to get this thread back more on other economic issues.

I made the same suggestion earlier in this thread. I'm all for it.

US fourth-quarter growth revised higher; labor market still strong

Fourth-quarter GDP growth revised up to 3.4% rate
Consumer spending, business investment revised higher
Corporate profits increase, boost GDI growth
Weekly jobless claims fall 2,000 to 210,000

WASHINGTON, March 28 (Reuters) - The U.S. economy grew faster than previously estimated in the fourth quarter, boosted by strong consumer spending and business investment in nonresidential structures like factories and healthcare facilities.

The report from the Commerce Department on Thursday also showed profits rising at a solid clip last quarter, driven by nonfinancial corporations. Increasing profits, together with rising worker productivity, could encourage companies to retain their employees.

Labor market resilience is underpinning consumer spending, keeping the economy afloat despite dire predictions of a recession in the aftermath of 525 basis points worth of interest rate hikes from the Federal Reserve since March 2022 to quell inflation.

"The consumer will be front and center when it comes to gauging the strength left in this recovery, and their spending that has shifted to services will be critical this year," said Christopher Rupkey, chief economist at FWDBONDS in New York.

Gross domestic product increased at a 3.4% annualized rate last quarter, revised up from the previously reported 3.2% pace, the Commerce Department's Bureau of Economic Analysis said in its third estimate of fourth-quarter GDP.

The revision reflected upgrades in consumer spending, business investment as well as state and local government spending, which offset downgrades to inventory accumulation and exports. Economists polled by Reuters had expected GDP growth would be unrevised.

The economy is growing above what U.S. central bank officials regard as the non-inflationary growth rate of 1.8% and continues to outperform its global peers. The economy grew at a 4.9% pace in the July-September quarter. It expanded 2.5% in 2023, an acceleration from 1.9% in 2022. Growth estimates for the first quarter are converging around a 2.0% pace.

CONSUMER SPENDING UPGRADED

Consumer spending, which accounts for more than two-thirds of U.S. economic activity, increased at a 3.3% rate, adding 2.20 percentage points to GDP growth. It was previously estimated to have grown at a 3.0% pace. The upward revision was in services.

The upgrade to business spending reflected higher outlays on manufacturing as well as commercial and healthcare structures than previously estimated. Spending on intellectual property products was also revised up, while the decline in outlays on equipment was not as steep as previously estimated.

Corporate profits including inventory valuation and capital consumption adjustments increased $133.5 billion in the fourth quarter after rising $108.7 billion in the July-September quarter. Profits of domestic nonfinancial corporations increased$136.5 billion, while those of financial corporations rose $5.9 billion. That more than offset an $8.9 billion decline in profits from the rest of the world.

When measured from the income side, the economy expanded at a robust 4.8% rate. Gross domestic income (GDI) increased at a 1.9% pace in the July-September quarter. In principle, GDP and GDI should be equal, but in practice differ as they are estimated using different and largely independent source data.

A widening gap between GDI and GDP in prior quarters had raised concerns among some economists that the economy was not as strong as suggested by the GDP figures. The surge in GDI reflected higher wages and profits.

The average of GDP and GDI, also referred to as gross domestic output and considered a better measure of economic activity, increased at a 4.1% rate last quarter after advancing at a 3.4% pace in the third quarter.

A separate report from the Labor Department on Thursday showed initial claims for state unemployment benefits fell 2,000 to a seasonally adjusted 210,000 for the week ended March 23. Economists had forecast 212,000 claims in the latest week.

Claims have been hovering in a 200,000-213,000 range since February. Most employers are retaining their workers despite a rash of high-profile layoffs at the start of the year.

The number of people receiving benefits after an initial week of aid, a proxy for hiring, increased 24,000 to 1.819 million during the week ending March 16, the claims report showed. The so-called continuing claims covered the period during which the government surveyed households for March's unemployment rate.

Continuing claims were little changed between the February and March survey periods. The unemployment rate was at 3.9% in February.

https://www.reuters.com/markets/us/...p-weekly-jobless-claims-fall-2024-03-28/

OH NO,, ,we're DOOMED! The Economy is growing to fast... Whatever will be do?

Apparently anything to try to make Biden’s excellent recovery economy look bad. He’s handled the economy better than ANY president in my lifetime, that I can remember, better than O, Willie, every bush, and trickle down Ronnie… I was too young to give a crap before Reagan. The last president like biden would be FDR.

At this point, anyone hating on Bidenomics is just a hater, and not qualified to even have an opinion.

You obviously don't buy groceries, gas, etc.... This economy sucks and it has since your President was sworn in. They just don't build em like Ronny anymore!!! Last great President our country ever had. Rescued us from the mess Carter created and now we have Jimmy's 2nd term happening.

Well we all know the entire economy rests on the price of your groceries.

No, I don’t buy groceries, I live off mana from a fake god. Smh. Biden didn’t cause inflation, DJT did. And I know everything is higher, and if you get your boy back in it will be much higher in four years, if we even have an economy left after bannkrolling another traitor-n-chief term in office.

I used to like Reagan, too, until I looked at the data and realized he was essentially the one that started this whole mess. Check it out for yourself:

https://www.investopedia.com/us-national-debt-by-year-7499291

https://www.ft.com/content/bdd03df6-e31e-4e6d-84c2-d634c2e14f53

Top Federal Reserve official says ‘no rush’ to cut interest rates after ‘disappointing’ inflation data
Progress on taming price rises ‘has slowed and may have stalled’, according to Christopher Waller


A top Federal Reserve official has said “disappointing” inflation data means the US central bank should “push back” the timing of cutting interest rates from their current 23-year high.

Christopher Waller, a Fed governor and one of the most influential US rate-setters, said in a speech on Wednesday that the recent rise in month-on-month measures of prices reinforced his view that there was “no rush” to lower the central bank’s 5.25 per cent to 5.5 per cent target range.


While Waller acknowledged that the central bank had “made a lot of headway in reducing inflation in the past year or so”, readings over the past two months had been “disappointing”.

“Shorter-term inflation measures are now telling me that progress has slowed and may have stalled,” he said.

It was “appropriate to reduce the overall number of rate cuts or push them further into the future” in response to the latest inflation figures, he said. In February the headline consumer price index and core CPI, which strips out more volatile food and energy costs, rose 0.4 per cent from the prior month.

Those reading were “obviously not progress toward our inflation goal”, which is 2 per cent inflation a year, he added.

Waller did not detail whether he was referring to the overall number of cuts for 2024, or for the Fed’s entire forecast horizon, which covers from now until 2026.

On the timing of loosening, he said “in the absence of an unexpected and material deterioration in the economy”, he would need to see “at least a couple months of better inflation data” before he had enough confidence that inflation could sustainably hit the 2 per cent goal.

Misplaced anger. Are prices for food too high? yes. But haven't you been paying attention? Every country on this planet is going through the same thing. The difference is that our inflation is lower than anyone else. Is it Bidens fault that the other countries have it worse than us?

Back when we were in the middle of Covid, things weren't getting through. we weren't getting goods into ports. Costs go up when there are shortages. But now that products are getting through, prices haven't dropped.

Why don't you talk to corporations that keep the prices up.

No, that doesn't work for you because you can't blame Biden if you do that.

And all YOU do is blame Trump. Constantly.

However, I'd like to highlight this quote of yours: " Are prices for food too high? yes. But haven't you been paying attention? Every country on this planet is going through the same thing. "

Now, take that thinking a step further, but in a different scenario: Was COVID bad? Yes, but weren't you paying attention? Every country on this planet was dealing with it."

And? You blamed Trump.

Yes, blane Trump who took credit for warp speed covid vaccine, then didn't follow established procedures- got Covid, showed the country how to do smart thing- inject cleaner into your body, capture light- magically project it into body, nuke hurricanes--yah--I blame Trump AND the country did too- the idiot got beat, but still hasn't admitted it---he's best at lying, selling sneaker, colonge, abusing women, and cheating on his taxes........VERY PRESIDENTIAL. NOT, anyone but TRUMP.

The economy is doing great... for the top 0.1%. It's "improved" for those at the bottom, but not really gotten them over the poverty line. The rest are getting squeezed. Are there exceptions? Sure.

If you like greedy "elites" extracting wealth, then the economy is amazing. If you believe in equity and fair value, the economy is a travesty. If you like gambling on the stock market, you can get lucky and/or can benefit from it being manipulated (GameStop style.) Unfortunately, stock market growth doesn't actually correlate to production, it's more artificial wealth extraction.

In a way, the stock market helps large conglomerates own more by using your money. Yes, one can get a pittance kicked back. Yet, by helping to concentrate ownership of the factors of production one is facilitating wealth disparity.

Wealth disparity continues to get worse.

Biden is in charge of the body that sets the rules that let corporations do what they do. So, it would seem that Biden (and previous/other politicians) is complicit.

"Is it Biden's fault that other countries have it worse than us?" This is a weird question or at least way to phrase it. I'm not really sure what you're looking for with it. Are you angling for a yes, then trying to use that to say it shows Biden is doing well? We're doing "better" because everyone else relies on our currency for international trade. That doesn't really have much to do with Biden. Globally, we've effectively got the "too big to fail" currency. Plus, we have the ridiculous military expenditures and a demonstrated willingness to go nuclear.

You are as bad as Trumps lawyers. They just make stuff up all the time.

I NEVER blamed Trump for Covid. I blamed him for his wickedly stupid response to it.

And I believed then and I believe now, a better response may have saved lives.

Before you say it, a better response would have been to acknowledge it and to respect those that are in charge of our various agencies that are responsible for dealing with it. Instead he made them out to be scapegoats for it. That was frickin stupid.

Now we have a bunch of damn fools trying to blame Fauci for all.

But hey, maybe it was all the fault of the Jewish Space Lasers that attacked our election systems. Or maybe it was the electronic thermostats that rigged voting machines.

Once again, the point flew over your head.

Trump creates task force to lead U.S. coronavirus response
January 30, 2020 / 9:12 AM EST / CBS News

President Trump has created a new task force to lead the government's response to the fast-spreading coronavirus, the White House announced Wednesday.

Led by Health and Human Services Secretary Alex Azar and coordinated through the National Security Council, the task force is made up of subject matter experts from across the federal government and has been meeting daily since Monday. Members of the 12-member group include National Security Adviser Robert O'Brien, Centers for Disease Control and Prevention Director Dr. Robert Redfield, and the National Institutes of Health's Dr. Anthony Fauci.

"The task force will lead the administration's efforts to monitor, contain and mitigate the spread of the virus, while ensuring that the American people have the most accurate and up-to-date health and travel information," the White House said.

The coronavirus has killed more than 170 people in China, though thousands more have been infected. While the outbreak started in Wuhan, China, 68 cases have been confirmed in other 15 countries, including the United States, according to the World Health Organization. The Centers for Disease Control said as of Wednesday, five patients in four states had tested positive, though specimens from 36 states were being tested.

Mr. Trump, who considers himself a germaphobe, addressed the coronavirus outbreak Wednesday during a signing ceremony for the new United States-Mexico-Canada Agreement.

"We're very much involved with them right now on the virus that's going around," the president said of China, adding that he had spoken with Chinese President Xi Jinping about it.

Later in the day, Mr. Trump said in a tweet that he attended a briefing on the coronavirus and lauded the U.S. experts monitoring the outbreak.

"Just received a briefing on the Coronavirus in China from all of our GREAT agencies, who are also working closely with China," he said. "We will continue to monitor the ongoing developments. We have the best experts anywhere in the world, and they are on top of it 24/7!"

https://www.cbsnews.com/news/corona...d-us-government-response-to-wuhan-virus/








From the National Archives:


https://trumpwhitehouse.archives.gov/issues/coronavirus/#:~:text=President%20Trump's%20swift%2C%20decisive%20response

And still trump belittled what he called “the best experts in the world” on taking the vaccine and masking up. Probably because they actually saved lives.

Trump Tells Followers to Get Vaccinated Against Coronavirus

Former President Donald Trump on Tuesday evening told his supporters to get the COVID-19 vaccine, saying it is a safe shot that works.

"I would recommend it and I would recommend it to a lot of people that don't want to get it and a lot of those people voted for me, frankly," Trump told "Fox News Primetime."

Trump, who was quietly vaccinated in January, added that "we have our freedoms and we have to live by that and I agree with that also."

Still, he continued: "But it is a great vaccine. It is a safe vaccine and it is something that works."

Polling has suggested that vaccine hesitancy among Republicans is significantly higher than among Democrats.

Trump's former coronavirus testing czar, Brett Giroir, earlier this week called on Trump and former Vice President Mike Pence to urge their followers to get the vaccine.

"I think it's very important for former President Trump – as well as the vice president – to actively encourage all their followers to get the vaccine," Giroir told CNN.

Leading infectious disease expert Anthony Fauci previously welcomed a recommendation from Trump.

"He's such a strongly popular person. I cannot imagine that if he comes out that they would not get vaccinated," Fauci said on "Fox News Sunday." "It would be very helpful to the effort for that to happen."

But President Joe Biden on Monday said advice from other figures could hold more weight than Trump's recommendation.

"I discussed it with my team and they say the thing that has more impact than anything Trump would say to the MAGA folks is what the local doctors, what the local preachers, what the local people in the community say," Biden said at the White House, referencing Trump's campaign slogan, "Make America Great Again."

According to data from the Centers for Disease Control and Prevention, roughly 11.8% of the total U.S. population has been fully vaccinated against the coronavirus. Over 21% has received at least one dose.


https://www.usnews.com/news/nationa...rs-to-get-vaccinated-against-coronavirus


Funny how Biden tried to make that a bad thing, huh?

I’ll always say getting the vaccine out there fast was the best thing trump did. It’s about time GOPers got on board and tout that accomplishment. Kinda falls flat now though.