Tag: GDP

14-28 Data Shows Bidenomics Suffering from Economic Dementia

14-28 Data Shows Bidenomics Suffering from Economic Dementia

By | | Comments 0 Comment

Podcast: Play in new window | Download

Subscribe: Apple Podcasts | Spotify | Amazon Music | TuneIn | RSS | More

Show 14-28 Summary: We’re talking economics and the rather grim picture being painted by the data—if someone actually bothers to look. You know. Like what the media used to do. Hold truth to power. While America’s economy is suffering through economic dementia under Joe Biden, there is not a lot of good news. Not even in supposedly “good” job reports — because they keep revising things down when they think no one is looking. But there are some bright spots ahead. If, and only if, we change who is in charge of our economy. So when will the media stop covering up Joe’s economic dementia?

I Spy Radio Coverage Map as of April 2024
Current I Spy Radio broadcast areas. Click for full-size map.

The I Spy Radio Show airs weekends, six different times, on seven different stations. Listen anywhere through the stations’ live streams! Check out when, where, and how to listen to the I Spy Radio Show. Podcast available Mondays after the show airs on out network of stations.

Original Air Dates: July 13th & 14th, 2024 | Guest: Jonathan Williams

This Week – Bidenomics: Economic Dementia

Despite the left stream media’s best cheerleading efforts, actual data about the economy is getting out. And it’s not good. Spikes in business bankruptcies. Especially small business bankruptcies. Even personal bankruptcies.

With all the business bankruptcies, and others reporting on the verge of bankruptcy, it’s no wonder that there is also a spike in store closings. If they continue at this rate,

In an America suffering from economic dementia, we need some common sense. Which is why we turn to Jonathan Williams, the Executive Vice President of Policy and the Chief Economist for ALEC. The American Legislative Exchange Council.

Economic Dementia: Did you know?
Under Bidenomics, 27% of Americans say they skip meals due to rising food costs.And 39%  skip meals to make house or rent payments

It seems there is no end of bad economic indicators. (Just take a gander at the show notes below.) A spike in bankruptcies. Cruelly keeping interest rates high Thousands and thousands of store closures. Including discount stores. (How bad is Bidenomics when people can’t even afford to shop at discount stores?) And regulations weighing down businesses. And in the middle of all that Joe Biden and the democrats want to raise taxes? That’s not just economic dementia. That’s economic suicide.

The only way out is to change the people in charge. Because if the definition of insanity is doing the same thing and expecting different results, then electing the same politicians is political insanity.

The left-stream media and democrats have signaled (okay, shouted) they want Dementia Joe to go. CNN, if you can believe it, just fact-checked Biden’s “high-stakes news conference”. Yes. CNN!

Be on the lookout. Joe Biden’s economy has been terrible ever since he’s been in office. But the media has been providing propaganda cheerleading to convince you otherwise. Bt when the left-stream media stops covering for Joe’s economic dementia? That’s when you’ll know the knives are out.

Because no one wins an election when the economy is in the toilet.

The I Spy Radio Show Podcast Version

Trapped under a heavy object? Missed the show? Don’t worry—catch the podcast version. Mondays, after our network of radio stations have aired the show, I Spy Radio is now available on your favorite podcasting platform, or you can grab it right here. See the full list of podcast options.

Show Notes: Research, Links Mentioned & Additional Info

Jonathan Williams and ALEC Links

  • Jonathan’s organization is ALEC – the American Legislative Exchange Council. Find out more at ALEC.org.
    • Encourage your representatives to join ALEC! There are state and city memberships. Help elected officials understand economic problems and the real solutions available to get out of them! Send them this link: https://alec.org/membership/.
    • And you too can join as a private-sector member!
    • You can follow Jonathan on Twitter at @TaxEconomist.
  • How did Oregon do in the 2024 edition of Rich States, Poor States?
  • Jonathan’s op-ed in The Daily Caller: “Biden’s Pledge To Let Trump’s Tax Cuts Die Has Stirred Up A Hornet’s Nest” (Daily Caller, June 10, 2024)
  • Those blue states that have seen the light: Hawaii and Connecticut: “‘Blue’ States Make Fiscal Progress: Jonathan Williams on American Radio Journal” (via ALEC, June 27, 2024)

Economic Dementia Links & Info

  • Department of Interior shuts down millions of acres of Alaska to all oil, gas and mining activity (Just the News, July 8, 2024)
    • Biden’s Department of Interior blocked 28 million acres of federal land in Alaska from any oil or gas development or mining
    • Biden’s Interior also blocked a 200-mile gravel road that would have connected mining districts in West Central Alaska to a highway that runs through the middle of the state.
  • Bidenomics: 27% of Americans Say They Skip Meals Due to Rising Cost of Food (Gateway Pundit, July 6, 2024)

We have so many economic dementia links, let’s break them into sub-categories.

GDP

Jobs

  • Peter Schiff: More Doom in the Data (ZeroHedge, July 10, 2024)
    • It was especially bad for manufacturing jobs: Zero manufacturing jobs were created in May. And 8,000 manufacturing jobs were lost in June.
  • Payrolls Rise 206K After Huge Downward Revisions As Unemployment Rate Jumps To Three Year High (ZeroHedge, July 10, 2024)
    • May jobs revised from 272K, to 218K (-54K; -24.8%)
    • April jobs revised from 165K to 108K (-57K; -34.5%)
  • June Jobless Rate Triggers Sahm Rule: Recession Imminent? (ZeroHedge, July 10, 2024)

Bankruptcies & Store Closures

  • Business Bankruptcies Jump 34 Percent in First Half of 2024 (Epoch Times, July 8, 2024)
    • In the first half of this year a total of 3,016 commercial Chapter 11 bankruptcies were filed — an increase of 34% from last year
    • Small business filings rose by 61%
    • [Lumber Liquidators] Home improvement chain mulls bankruptcy (Daily Mail, July 8, 2024)
  • US retail bloodbath continues as store closures hit 2,600 so far this year – here’s the full list (UK Daily Mail, May 8, 2024)
  • The death of the dollar store: 99 Cents Only and Family Dollar to shutter hundreds of stores in ‘retail apocalypse’ (Daily Mail, May 26, 2024)
  • Nationwide discount retailer with 1,400 stores sparks fears of mass closures as it mulls bankruptcy (Daily Mail, July 5, 2024)
    • Big Lots has used up most of its cash on hand because of the losses so far this year — on top of  the last two years
    • Big Lots said all of this raises substantial doubt about the company’s ability to continue.
    • How bad is Bidenomics when people can’t even afford to shop at discount stores?
  • Wilco says it could lay off 70 people, close hazelnut processing facility (Statesman, July 8, 2024)
  • Kroger-Albertsons selling 186 Oregon, Washington stores in merger bid (KOIN, July 10, 2024)

Oregon’s Own Economic Dementia

 

 

14-18 Troubling Signs about Bidenomics | Learn to Think Like an Economist

14-18 Troubling Signs about Bidenomics | Learn to Think Like an Economist

By | | Comments 0 Comment

Podcast: Play in new window | Download

Subscribe: Apple Podcasts | Spotify | Amazon Music | TuneIn | RSS | More

Show 14-18 Summary: Does anyone remember when the media objectively covered economics. After all, so much of it revolves around data. And yet the mainstream media does everything it can to attack good economies, like we had under Trump, while providing cover for lame economies, driven primarily by government and government spending, like what we have under Joe Biden. So how do you know what to trust and whom to trust? On this week’s show we talk to an economist to help you think like an economist.

Coverage Map of I Spy Radio Show broadcast areas, as of June 2021
Current I Spy Radio broadcast areas. Click for full-size map.

The I Spy Radio Show airs weekends, six different times, on seven different stations. Listen anywhere through the stations’ live streams! Check out when, where, and how to listen to the I Spy Radio Show. Podcast available Mondays after the show airs on out network of stations.

Original Air Dates: May 4th & 5th, 2024 | Guest: Jonathan Williams

This Week –  Despite the mainstream media doing their best to run cover for Biden and his economic policies, there are some troubling signs about Bidenomics. And some of it really troubling. Which is why you’re not hearing those kinds of stories in the mainstream media.

When it comes to the economy, White House Press Secretary Karine Jean-Pierre is Biden’s DEI hiring-equivalent of “Baghdad Bob.”

GDP for the first quarter was half of normal growth and less than half of the previous quarter. Unemployment for April rose with one of the indicators the worst it’s been since November 2021. And yet all we ever hear out of the White House is how great things are. Including a rather startling comment from KJP. According to her, prices are too low. That woman is Biden’s DEI hiring equivalent of “Baghdad Bob.”

But because economic reporting has become so politicized how can an everyday person tell whether or not the economy is doing well — aside from their own subjective experiences? Because their experiences may not be what everyone else is going through.

Think Like an Economist

So this week we talk to an economist—Jonathan Williams, Executive Vice President of the American Legislative Exchange Council, and their chief economist—to help people learn to think a little more like an economist.

What are some of the trigger points to look for? What are some of the more reliable measurements that indicate a good or a bad economy? And what economic levers can they pull to turn an economy around or to keep a good economy going?

And all of that to help people pick the right people to put them in charge to get the economy on the right track

The I Spy Radio Show Podcast Version

Trapped under a heavy object? Missed the show? Don’t worry—catch the podcast version. Mondays, after our network of radio stations have aired the show, I Spy Radio is now available on your favorite podcasting platform, or you can grab it right here. See the full list of podcast options.

Research, Links Mentioned & Additional Info

  • Jonathan’s organization is ALEC – the American Legislative Exchange Council. Find out more at ALEC.org.
    • Encourage your representatives to join ALEC! There are state and city memberships. Help elected officials understand economic problems and the real solutions available to get out of them! Send them this link: https://alec.org/membership/.
    • And you too can join as a private-sector member!
    • You can follow Jonathan on Twitter at @TaxEconomist.
  • How did Oregon do in the 2024 edition of Rich States, Poor States? We actually moved up on notch—although we’re still in the low 40s. Explore all the states or jump to Oregon’s rankings.
    • Be sure to try out the red “adjust policies” tab!
  • Biden Administration’s New Climate Rules Add $31,000 to Price of New Home, Industry Groups Say (The Epoch Times, May 1, 2024)
  • That Stephen Moore article: “Why Small Businesses Hate Bidenomics” (The Daily Signal, April 23, 2024)
  • GDP growth slowed to a 1.6% rate in the first quarter, well below expectations (CNBC, Apr 25, 2024).

The Death of DEI?

Other Related Economics News

  • ‘Harassment’: Feds Impose Trans Agenda on Employers for Pronouns, Bathrooms (The Daily Signal, April 29, 2024)
    • The Daily Signal reported that under new federal guidelines — released on Monday by the Equal Employment Opportunity Commission — an employer would be guilty of harassment by requiring someone to use a restroom that corresponds with their biological sex or if someone “misgenders” them.
  • US births reach 45-year low – report (RT, Apr 25, 2024)
  • Why hundreds of U.S. banks may be at risk of failure (CNBC, May 1, 2024)
  • U.S. job growth totaled 175,000 in April, much less than expected, while unemployment rose to 3.9% (CNBC, May 1, 2024)
  • Long-predicted consumer pullback finally hits restaurants like Starbucks, KFC and McDonald’s (CNBC, May 1, 2024)