Biden has used the word 101 times since June, but he has made no mention of it for almost a full month.
Polls show people have little faith in Biden, especially regarding the economy. Nonetheless, Biden endlessly promoted Bidenomics for months.
That quietly ended a month ago and NBC figured it out.
NBC reports ‘Bidenomics’ is Nowhere to be Found in the President’s Recent Speeches.
Since June, President Joe Biden had been freely peppering the word “Bidenomics” into his speeches and remarks mentioning the economy — 101 times, to be exact.
In doing so, he was attaching his name to a set of administration policies that most Americans don’t believe have worked, according to recent polling. In an NBC News poll conducted this month, only 38% of respondents approved of Biden’s handling of the economy.
Now, the word “Bidenomics” appears to have been dropped entirely from Biden’s comments about the economy. He hasn’t used it in public remarks since Nov. 1, when he likened Bidenomics to “the American Dream” in a speech in Minnesota.
“Bidenomics” branding, however, hasn’t disappeared from the White House and the president’s re-election campaign. Wednesday’s event in Colorado was billed as a way to “highlight how Bidenomics is driving record investments in Congresswoman Lauren Boebert’s district,” according to a White House release.
The White House YouTube page similarly labeled Biden’s speech Wednesday as “remarks on Bidenomics.” The word was also plastered around the president’s podium for his remarks in Colorado.
The absence of the word in Biden’s speeches comes as some Democratic strategists and Biden allies have criticized the branding.
The White House has also used the word to contrast the president’s policies to “MAGAnomics,” a term Biden has used to describe the Republican economic agenda.
“The country should know the facts. They should know the choice between Bidenomics and MAGAnomics,” Biden said in a Sept. 14 speech.
He has also tied Bidenomics to the American dream — doing so twice in his Nov. 1 remarks. “Folks, Bidenomics is just another way of saying the American Dream,” Biden said that day.
Losing Faith in Bidenomics
It seems that Biden has lost faith in Bidenomics, but his staff hasn’t. The public had no faith to begin with.
“You say you lost your faith, but that’s not where it’s at
You had no faith to lose and you know it“
In case you don’t recognize those lines, they are from Positively 4th Street, written many decades ago by Bod Dylan.
Making the move away from citing Bidenomics could be a positive sign for the president’s re-election campaign, presidential historian Douglas Brinkley said.
“Because ‘Reaganomics’ seemed to have taken hold, it made some sense to shop ‘Bidenomics.’ But it fell flat. It’s a little bit like Gerald Ford’s ‘Whip Inflation Now’ buttons.
Nobody wants to be waving banners that say, ‘I love Bidenomics,’” Brinkley said.
Indeed. And that’s precisely why Republicans ought to pick up where Biden left off.
Five Alarm Bell – Biden Trails Trump in Five of Six Battleground States
On November 5, I commented Five Alarm Bell – Biden Trails Trump in Five of Six Battleground States
That’s about the time Biden stopped bragging about Bidenomics. Numerous polls since show the same thing.
But if Biden is wise to stop mentioning Bidenomics, Republicans should consider using it more often.
The Choice Is Between Two Devils
Trump is not remotely close to being a Libertarian and neither is remotely close to being a moderate.
However, voters have decided that between Trump and Biden, Trump looks better in comparison. The devil we had is better than the devil we got. You might disagree, but that is what many polls now show.
For discussion, please see The Devil We Had Is Better Than the Devil We Got
One source of malaise of general public is post Covid staffing rapture.
No one has adequate staffing and service is awful everywhere.
Bidenomics policies of paying people not to work and forebearing most of their expenses has left few working and those that are resentful for those who are not.
“
Maybe we need immigrants to provide skilled and competent service?
What is Bidenomics ? About half the excessive spending and free money was under Trump and approved by Republicans in 2020 but just deferred. Republicans love to try to setup the next guy to fail even if it’s in their own party. Reagan did it to Bush and GWB did it to Obama. Trump would rather burn the house down and have anarchy thus Jan 6th.
We are going to get some more deflation and more stable economy. I pick stability over rampant growth and crash and boom bust cycles of the past.
You almost beat me on #dislikes 😊
Thursday, November 30, 2023Never Mind Bogus Measures of Inflation–Purchasing Power Is What Counts, and It’s DecayingIf your earnings rose by 34% from January 2020 to October 2023, congratulations, the purchasing power of your labor kept pace with higher costs.
Official measures of inflation are a long-running tragi-comedy: comedic in the transparency of the distortions, and tragic in the consequences: what will you believe is true–the statistics or your lying eyes?
The basic gimmick of distortion is to underweight whatever is eating away at the purchasing power of earnings and highlight the trivial items that are getting cheaper due to declines in quality and globalization. So your rent went up by $200 a month, or $2,400 a year, but since TVs dropped $40 and toys dropped $20, inflation is only 3%. So stop feeling poorer, everything’s great! Inflation is dropping!
You see the problem: the scale of spending on essentials such as shelter, healthcare, childcare, etc. is far greater than the trivial “lower in price” items. If 95% of your essential spending is rising in cost, trivial declines in the 5% of discretionary spending do not offset the gargantuan declines in purchasing power.
The chart below reflects this distortion.
…
link to charleshughsmith.blogspot.com
It seems that Biden has lost faith in Bidenomics, but his staff hasn’t. The public had no faith to begin with.
“You say you lost your faith, but that’s not where it’s at
You had no faith to lose and you know it“
In case you don’t recognize those lines, they are from Positively 4th Street, written many decades ago by Bod [sic] Dylan.
——–
Alan Blinder: Let Them Eat Disinflation
Alexander William Salter
November 1, 2023
Alan Blinder thinks American households and workers have never had it so good. But because they’re trusting their lying eyes instead of experts like him, they’re disgruntled about the economy. Why don’t the hoi polloi appreciate that “unemployment is near record lows, net jobs are still being created at a breakneck pace, and inflation has fallen notably?”
There’s something fundamentally baffling about this perspective. Millions of Americans insist they confront significant material hardship, yet the commentariat — especially those who are allies of, or at least sympathetic to, the technocratic left — stubbornly doubles down on abstractions. Yes, it’s good that the unemployment rate is not higher than it is, and it is good that inflation has fallen. But it’s absurd and arrogant to insist that distant observers have a clearer picture of wellbeing than the people who say they’re hurting.
Blinder concludes that people are not satisfied with mere disinflation. “Rather, they seem to want prices for items such as gasoline and groceries to fall back to where they used to be.” He predicts (correctly, I think) that prices aren’t coming back down. Furthermore, creating deflation by engineering an aggregate demand shortfall would cause needless pain. (This isn’t true of all deflation, however. More on this below.) Amazingly, Blinder never discusses the obvious problem: The prices of goods and services have risen faster than wages for years.
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link to aier.org
When it comes to real wages, there is way too much ideology coloring perceptions. Alan Blinder is a superb economist whose judgement I would take on any day. Here are some facts to chew on: Real wages in the US have stagnated for the last few decades (I am talking about median real weekly earnings). And, for MAGA fans, real wages barely moved upward during the Trump years through end of 2019 after the Trump administration inherited the late cycle expansion winds from the Obama administration. In 2020, real wages jumped statistically because lots of low income workers fell out of the data. In late 2023, with low income workers fully back, real wages are back where they were at the end of 2019; they didn’t fall over the last 4 years. In sum, the last 8 years of real wage growth in the US under Trump and Biden looks very much like the last 40-50 years of real wage growth. The real debate we should have is not Biden vs Trump, but why have real wages been stagnant for so long. Maybe then we can figure out policies that make a difference for the American worker.
Depends on your work industry. In technology, wages are not stagnant at all. Google/Facebook/Microsoft, etc. are paying raw college grads $150k to start and people are making $200-400k in these companies with just a few years experience.
Burger flippers all get at least $20/hr now here in CA. Healthcare workers are queued up to get minimum $25/hr here and that includes janitors in healthcare settings also!
Everyone seems to be on strike and all settle with higher wages. There is too much money sloshing around, which leads to this article:
———
Inflation Is Your Fault
If people are so mad about high prices, why do they keep buying so many expensive things?
By Annie Lowrey
December 1, 2023
You would think, with prices as high as they are, that Americans would have tempered their enthusiasm for shopping of late; that they would have pulled back spending on luxury items; that they would have sought out budget and basic options, bought smaller packages, fewer things.
This is not what has happened. Consumer spending rose 0.2 percent, after accounting for higher prices, in October, the most recent month for which the government has data. Online shopping jumped 7.8 percent over the Thanksgiving long weekend, more than analysts had anticipated. The sales of new cars, dishwashers, cruise vacations, jewelry—all things people tend to give up when they are watching their budget—remain strong. Consultants keep anticipating a recession precipitated by the “death of the consumer.” Thus far, the consumer is staying alive.
People hate inflation, just not enough to spend less: This is one of the central tensions of today’s economy, in which things are going great yet everyone is miserable. And in some ways, Americans have nobody to blame but themselves.
…
link to theatlantic.com
Sure, real wage trends differ across industries. But the long-term stagnation in the aggregate real wage is a pretty sturdy fact. Weak and incompetent trade unions may be one reason for this; a health care system that thrives on legalized corruption may be another force sucking up pay that would otherwise go to workers; there may be serious statistical issues. By contrast, trade and immigration are quite unlikely culprits. The point is that we should stop looking at the economy using blinkers and ideological glasses, and try to figure out what is really going on.
Mish wrote “However, voters have decided that between Trump and Biden, Trump looks better in comparison. The devil we had is better than the devil we got. You might disagree, but that is what many polls now show.”
—–
Have you checked with Liz Cheney on this?
Liz Cheney would rather see Democrats win in 2024
She warned of the “threat” from within her own party.
By Kelly Garrity
12/03/2023 01:31 PM EST
Former Republican Rep. Liz Cheney would rather cede power to Democrats than see members of her own party win in 2024, she said, calling a Republican majority a “threat,” and warning of an existential crisis leading up to next year’s election.
“I believe very strongly in those principles and ideals that have defined the Republican Party, but the Republican Party of today has made a choice and they haven’t chosen the Constitution, and so I do think it presents a threat if the Republicans are in the majority in January 2025,” the Wyoming Republican said during an interview with CBS, when asked whether she would prefer a Democratic majority in 2025.
Once the No. 3 leader of the House Republican Conference, Cheney was booted from her role and later lost her seat after bucking her party to take a stand against former President Donald Trump in the wake of the Jan. 6 Capitol insurrection.
…
link to politico.com
Biden this … Trump that…all laughable. History repeats itself, “…the second time as farce.” Just cleaning up now after the a half century circus left town.
For all you youngsters out there, Voodoo Economics –
Bing Videos
Two bought-and-paid-for grinning jackasses on each side here –
Bing Videos
Hopefully Poppy was on the welcoming committee for Henry K. last week.
If Bidenomics was working as advertised, maybe Donny Trump would not be in the picture, or I think that was the hope but sense it’s not He desided to run for another term. I’m sure all the college kids love this Idea.
College kids overwhelmingly are going for RFK Jr
Wise or not, Republicans cannot do anything without the blessing of the Orange Jesus. For the fear of his retribution is not exclusively reserved for Democrats.
And yet, King Chaos himself is not the clear & present danger we are facing.
It is the broken Republican Party itself, willing to win at any cost…
even if that means ditching democracy to embrace fascism.
Obviously you are one of the rubes brain washed by endless hours in front of the boobtube watching MSNBC.
If you have noticed, Trump is leading all the other Republican candidates by a mile. The Never Trump Republicans are desperately searching for a candidate among the others, to support in an attempt to defeat Trump in the primaries. Desantis faded, so it seems as if they’re gravitating toward Halley.
But Trump leads by a mile because Republican voters want Trump. It has nothing to do with fascism. It is Marxist Democrats who are parroting a narrative of Trump being a dictator if he is re-elected.
Hard to miss: Trump is extremely popular.
No surprise: he’s been pumping the brand for decades.
It is really Trump’s own words that are fascist.
But don’t just take my word for it…
“The Washington Post took a look at Trump’s campaign pledges in October and compared them to fascist traits such as hyper-nationalism, militarism, glorification of violence, a desire to purge the disloyal and theatricality, among other things. It concluded that Trump was an ‘amateurish imitation of the real thing.’”
Selected quote from “Is Trump A Fascist? 10 Quotes From The President On Nationalism, Militarism And Violence” —-posted 2/06/17
The word is offensive to anybody who has some grasp of economy and finance. To use the government credit card on construction of facilities to produce foreign developed and owned technologies: chips, wind, solar is prime banana republic.
Emphatically, when that credit is being eroded by the day by politics.
The fact that it took him 6 months to realize he was making a fool of himself underscores just how senile he really is.
No fan of Bidenomics. But the knucklehead economics offered by MAGA is even worse: no platform with coherent, fact-based ideas; the only discernible idea is „Führer befiehl, wir folgen dir.“
Ugh!
Hope you can understand 1930s German slogans. That’s where MAGA seems to get its inspirations (without even realizing it).
You know, Republicans can have disagreements on matters of principle with Biden, and that doesn’t make them fascists. It means they think he’s doing a bad job.
While the US invests in endless wars, China is thinking about its future.
“China has reached the world’s leading level in the research, development and application of fourth-generation nuclear power technologies,” the NEA said, adding that the commissioning of the NPP will have help promote the safe development of nuclear power and improve China’s scientific and technological innovation capabilities.
I think the best scenario we can wish for is to have Trump elected but with Vivek Ramaswamy as his chief of staff and Col. Douglas MacGregor as the Secratary of State.
And DeSantis at DHS
And Nikki Haley consigned to Israel to clean up their human trafficking problem.
link to timesofisrael.com
Bidenomics appears to be government lagresse to households, students, green boondoggles, foreign countries and the MIC.
We don’t need a moderate approach when the economy has been grossly distorted by years of bad policies. We need most of the government programs torn out root and branch.
You mean Social Security and Medicare? Or maybe defense spending? Or maybe the poor should get no support anymore?
Bidenomics works but you have to ignore everything his cabinet says and turn off the TV.
I think that the tsunami of treasury issuance has been financed by bank deposits moving through MMMFs, thereby increasing the supply of loan funds, but not the supply of new money (flows similar to the 1966 Interest Rate Adjustment Act).
That, and the draining of the O/N RRP volumes also helped. It’s virtually impossible for the Central Bank or the DFIs to engage in any type of activity involving non-bank customers without an alteration in the money stock. And contrary to the FED, MMMFs are nonbanks.
Going forward, there must become a time where these one-time events end support?
Classic
Biden should have fired Powell. Powell has been incompetent. Powell thinks banks are intermediary financial institutions, instead of money creating institutions. Powell eliminated reserve requirements. The money stock can never be properly controlled by any attempt to control the cost of credit.
“The president may not have the legal authority to dismiss a chairman before the end of a term, although this assumption has never been tested in court. The current chairman is Jerome Powell, who was sworn in on February 5, 2018.”
Chair of the Federal Reserve – Wikipedia
en.wikipedia.org › wiki › Chair_of_the_Federal_Reserve
I saw the “I luv Bidenomics” sign at the bottom of a gas station men’s room toilet bowl…..it kept the surrounding bathroom floor clean because it gave men something to aim for and apparently no one missed !!!
The illusory truth effect is not working.
If 2024 will be a good year in the stock market, Bidenomic will be reinstated.
The 4th year of the presidential cycle is almost always positive. Sitting presidents up for reelection do everything in their power to show a positive economic measure understanding that votes for them depend on voters feeling reasonably good economically.
Any of these “NOMICS” labels are created as way to Mesmerize the MOST ardent Voting Types, and those are the ones who BELIEVE VOTING makes a difference in outcomes. We all know that doing something over and over expecting different (“better”) results is a form of madness.
Thus, if you had voted for Biden, then BIDENOMICS would ring with you as a natural supporter of the false Narrative: the falsehood is that there IS an economy – – which of course infers that we somehow have “free markets” or “free-market Capitalism” which could not BE MORE FALSE.
What we have is a LOBBIED MESS. Corporations have complete POWER and CONTROL over us. Just watch Mainstream TV and notice how many BIG PHARMA Commercials that there are, as well as INSURANCE COMMERCIALS – – both ubiquitous and unending. Those who foist ads upon our senses are taking their EXCESSIVE LOBBIED PROFITS and ensuring that we continue to buy their shit.
Look at the COVID-19 Propaganda. They captured the evening news with Covid Death stats. I went into a Surgical Unit in 2020 (unfortunate turn, I had open Heart Surgery – – very painful moment in my life) and I asked my Masked Night Nurse: “Is the Covid patient Count HUGE here at Mercy?”
She “Shushed me” with her index finger over where her mouth would normally be exposes and said, “NOT ONE. Don’t believe the news.”
“We have ZERO Covid Patients.” ZERO!
This was at the beginning of the Covid CAMPAIGN to convince the great fools to get Jabbed. It was the MOST intense campaign ever to convince a naive electorate to BELIEVE THEM: “PROTECT YOURSELVES!”
Without exception, EVERY SINGLE PERSON WE KNOW that got the Pfizer jabs have gotten Covid. NOT ONE EXCEPTION. We did not do it my wife and I never got even the hint of a FLU since 2019.
So, go ahead voters: VOTE AND EXPECT “CHANGE THAT YOU CAN COUNT ON.” That is patently false and a huge lie.
I couldn’t agree more with you Mish!
They could rotate the question: “Can we get an update on Bidenomics today please” at the Press Conferences.
They could have a weekly “Bidenomics Update” for the Public to digest.
Many ways to keep this information Front & Center!!!