Biden says Trump's inheriting the strongest economy in modern history.

[Hey Yo]

:roll:

President Biden on Tuesday touted that President-elect Trump will inherit the "strongest economy in modern history" when he takes office in January – even as Americans continue to struggle to afford homes and groceries from inflation.

Biden delivered remarks about his "middle-out, bottom-up" economic approach at the Brookings Institution, a public policy think tank in Washington, D.C., claiming there are "a number of quotes" from commentators describing his administration’s economy as strong.

"President Trump has received the strongest economy in modern history, which is the envy of the world," Biden said.

While inflation has eased significantly since its peak in 2022, grocery prices remain substantially higher than they did before the COVID pandemic swept the globe nearly five years ago.

According to the most recent Consumer Price Index inflation data from the Bureau of Labor Statistics, Americans are spending 22% more on groceries in comparison to when Biden took office nearly four years ago.

Voters said the economy was far and away the top issue facing the country – with 40% saying inflation was the single most important factor in their vote – followed distantly by immigration and abortion, according to the Fox News Voter Analysis of the 2024 election.

Even Trump noted during an interview with NBC News’ "Meet the Press" on Sunday that his White House victory last month came down to the economy.

"I won on the border, and I won on groceries," the president-elect said

Meanwhile, Biden held to his belief that Trump’s potential tariff plan is "a major mistake."

By all accounts, the incoming administration is determined to return the country to another round of trickle-down economics and another tax cut for the very wealthy," Biden said. "That will not be paid for, or if paid for, is going to have a real cost, once again causing massive deficits or significant cuts in basic programs."

https://www.foxnews.com/politics/biden-says-trump-inheriting-strongest-economy-modern-history-slams-tariff-plan-major-mistake

[Bill Gates]

" Modern History" meaning the last 30 years or so?

Biden is correct.

We are in the middle of a massive economic boom. There are a higher % of wealthy people than ever, 10% of all US adults are millionaires.

One might be able to argue that the poor are poorer or the wealth gap is bigger, or something along those lines. But there can't be any denying that the top 50% of this country have never been better off than they are now.

[j3lademaster]

Why are Trump supporters so bad at arguing FOR Trump?

You can easily say Trump’s initial corp tax cuts allowed corps and hedgefunds to commit more of their revenue towards buybacks which is what catapulted the bull market under Biden post lockdowns which increases gdp which attracts more investment. Those of us who are paid in equity are seeing higher than ever incomes as well, which increased these past couple years higher than inflation.

The problem with solely attacking inflation is that the entire world is suffering inflation and the USA in relativity made out pretty well.

[Lakers Legend#32]

20 million jobs in November.
Real wages up.
Record low unemployment as 4.3%
80 million people traveled during the Thanksgiving weekend.

Yet we are suppose to believe that Trump won because of the cost of eggs?

No it was that racist Red State 'Murica could not vote for a black woman for president.

[Lakers Legend#32]

Biden oversaw the best recovery in the G-7. Unemployment in this country is lower. He extended the number of people who got access to healthcare…” and more!

But 'Murica voted for the convicted felon and adjudicated rapist because of the economy?

Not having a black woman as president is what really mattered to the poorly educated.

[highwhey]

worst economy i've seen since 2008

[MrFonzworth]

Modern history? Try ALL of history, over ALL civilization. I hope he runs in 2028!

[warriorfan]

DNC is already trying to draft narratives for 2028

:lol :roll:

[Off the Court]

It's going to be both hilarious and sad when the narrative for both sides instantly flips on Jan 20.

[rmt]

He and (some) Dems are deluded. Do they not see the price of groceries, insurance, EVERYTHING? I hope they keep being as blind as they are.

[tpols]

" Modern History" meaning the last 30 years or so?

Biden is correct.

We are in the middle of a massive economic boom. There are a higher % of wealthy people than ever, 10% of all US adults are millionaires.

One might be able to argue that the poor are poorer or the wealth gap is bigger, or something along those lines. But there can't be any denying that the top 50% of this country have never been better off than they are now.


There's absolutely no way that is true.

Unless we're counting old people and their homes value.

[j3lademaster]

20 million jobs in November.
Real wages up.
Record low unemployment as 4.3%
80 million people traveled during the Thanksgiving weekend.

Yet we are suppose to believe that Trump won because of the cost of eggs?

No it was that racist Red State 'Murica could not vote for a black woman for president.

Nah, it's because the black woman is dumb af. I would have voted for Michelle Obama.

[Bill Gates]

There's absolutely no way that is true.

Unless we're counting old people and their homes value.

It's true and obviously "old people" count :oldlol:

[SouBeachTalents]

Nah, it's because the black woman is dumb af. I would have voted for Michelle Obama.
If you're conservative you should pray retards like LakersLegend actually believe Kamala lost the election due to racism/sexism, not because she was an atrocious candidate who was literally handed the nomination without receiving a single vote, despite her getting 0% in the primary 4 years ago.

Let them think it was all due to race, they'll make no changes to their platform or messaging, and they'll continue to lose elections due to their identity politics bullshit.

[j3lademaster]

There's absolutely no way that is true.

Unless we're counting old people and their homes value.There are ~20mil millionaires last I checked and the US has a pop of about 350 million people, so if we count only adults that might be even higher than 10%. And yes, a lot of it has to do with housing, but people are financially savvier than ever and are investing more than ever, and we just had like a 3 year straight bull market so people who are paid in equity are making ungodly amounts of money that they were never intended to make. Engineers at Meta are making $700k these past couple years because of it.

I agree with what you mean though, if you have to pull equity out of your primary residence to put together $1mil you shouldn't count as a 'millionaire'.

[RRR3]

Nah, it's because the black woman is dumb af. I would have voted for Michelle Obama.
I don't want to definitively speak on Michelle Obama's politics without knowing them but has she ever said anything to show she's any more progressive than her husband and would break away from the corporatism of the Democratic party? She's still married to him, I can't imagine she's that morally repulsed by his evil deeds if she's still willing to be with him. I wouldn't count on her to be any better politically than Harris. Regardless you should know her political beliefs fully before pledging support.

[Bill Gates]

There are ~20mil millionaires last I checked and the US has a pop of about 350 million people, so if we count only adults that might be even higher than 10%. And yes, a lot of it has to do with housing, but people are financially savvier than ever and are investing more than ever, and we just had like a 3 year straight bull market so people who are paid in equity are making ungodly amounts of money that they were never intended to make. Engineers at Meta are making $700k these past couple years because of it.

I agree with what you mean though, if you have to pull equity out of your primary residence to put together $1mil you shouldn't count as a 'millionaire'.

Equity is literally the hard earned money you have paid on a property yourself. And real estate is the same as cash.

If you fully own a $1 million home that you paid for with your money, and could sell it for $1 million cash on the market. Then you are a millionaire.

This is why people buy instead of rent.

[j3lademaster]

I don't want to definitively speak on Michelle Obama's politics without knowing them but has she ever said anything to show she's any more progressive than her husband and would break away from the corporatism of the Democratic party? She's still married to him, I can't imagine she's that morally repulsed by his evil deeds if she's still willing to be with him. I wouldn't count on her to be any better politically than Harris. Regardless you should know her political beliefs fully before pledging support.No. How I feel about the democrats should be pretty clear by now, trading red and blue is just deciding which billionaire overlords you want to be in power. We all know both sides will be pro Israel, we both know both will be beholden to corporations etc. At that point since there are no standouts I just go with what little differences are between them:

Dems will increase taxes on upper middle class + and will issue capital gains tax. Probably overall a good thing for society, but selfishly I'm against this.

Republicans want tariffs to... let's be real, create monopolies for THEIR billionaires. None of them give a shit about bringing manufacturing back to the US, the US has always given duty free govt contracts to their favorite 3rd parties(mostly defense contractors), why would I think it'd be any different this time. Corporate tax cuts sounds good on paper, but none of the wealth ever trickles down and I've stated numerous times why every example of helping already successful corporations and hedgefunds only leads to buybacks/hoarding/increased wealth disparity so I don't feel like going down that rabbit hole again.

All in all, if someone injected me with a truth serum I'll have to say dems in general are a slightly less smelly shit sandwich. If Michelle ran, what would be different? *truth serum* just some cope really, hoping there's something actually better out there. She championed cuts to other programs to provide children with healthier school lunches and programs to help kids better prepare for the real world in high school. Her Reach Higher initiative not only encouraged higher education but also real world skills like how to handle credit, etc. which more kids need to be aware about. If she were a true moderate a la Bernie, though, she'd be black-balled instead of the dem leadership begging her to run so my hopes for her wouldn't be too high. Would be nice to have a president who actually knew what tariffs and subsidies are though. Baby steps.

[j3lademaster]

Equity is literally the hard earned money you have paid on a property yourself. And real estate is the same as cash.

If you fully own a $1 million home that you paid for with your money, and could sell it for $1 million cash on the market. Then you are a millionaire.

This is why people buy instead of rent.Ok. You win. I seriously don't feel like debating what constitutes a 'millionaire'.

[rmt]

Equity is literally the hard earned money you have paid on a property yourself. And real estate is the same as cash.

If you fully own a $1 million home that you paid for with your money, and could sell it for $1 million cash on the market. Then you are a millionaire.

This is why people buy instead of rent.

Real estate is not liquid like cash is.

When you sell that $1 million home, you have to pay taxes on the gain (minus $250k exemption if it has been your residence for a certain number of years). And you still have to live somewhere. Here in Miami, avg price of home is between $550-650k and rent is crazy high.

IMO, it is no longer (financially) feasible to buy a home in any decent city with high interest rates and house pricing the way it is. Young people are HOUSE SHARING.

[Bill Gates]

Real estate is not liquid like cash is.

When you sell that $1 million home, you have to pay taxes on the gain (minus $250k exemption if it has been your residence for a certain number of years). And you still have to live somewhere. Here in Miami, avg price of home is between $550-650k and rent is crazy high.

IMO, it is no longer (financially) feasible to buy a home in any decent city with high interest rates and house pricing the way it is. Young people are HOUSE SHARING.

And? If you make a profit on ANY investment you have to pay taxes on the gain. If you make profit just working a job you have to pay taxes on your gain. If I own $1million in microsoft stock am I not a millionaire? Because that is an investment just like real estate is. You own something worth $1 million dollars.

[ShawkFactory]

Equity is literally the hard earned money you have paid on a property yourself. And real estate is the same as cash.

If you fully own a $1 million home that you paid for with your money, and could sell it for $1 million cash on the market. Then you are a millionaire.

This is why people buy instead of rent.

And then ostensibly have to pay another $1 million for a place to live. It's not the same thing.

And what about people who haven't paid their home off? I bought in 2021, put down 20% on a 30-year, and my home's value has gained 50% in that time. More situations are like this than not.

[j3lademaster]

And then ostensibly have to pay another $1 million for a place to live. It's not the same thing.

And what about people who haven't paid their home off? I bought in 2021, put down 20% on a 30-year, and my home's value has gained 50% in that time. More situations are like this than not.

Equity. If you own $1mil of your $2mil home, you own $1mil of equity and are thus considered a millionaire by our current measuring system.

[ShawkFactory]

Equity. If you own $1mil of your $2mil home, you own $1mil of equity and are thus considered a millionaire by our current measuring system.

Correct. Just offering a non-elementary example to the guy :lol

[Bill Gates]

And then ostensibly have to pay another $1 million for a place to live. It's not the same thing.

And what about people who haven't paid their home off? I bought in 2021, put down 20% on a 30-year, and my home's value has gained 50% in that time. More situations are like this than not.

Okay so first off if you are living in a $million home you are well off. I mean "ostensibly have to pay another $1 million for a place to live"? YES EXACTLY. We shouldn't count people who have to buy a $1million home as millionaires?

One's home is probably the greatest sign of one's wealth.

If I own a $20 million home that doesn't count because if I sold it I would have to buy another $20 million home? Nevermind that I'm living in a $20 million dollar home?




What they haven't paid off, the bank owns. It doesn't count toward net worth. Only what you own in equity. If I just started a 30 year mortgage on a $1 million home with $0 down payment then I own nothing.

[Bill Gates]

Correct. Just offering a non-elementary example to the guy :lol

I went over equity before you posted that.

[ShawkFactory]

You're just using a weird example. People who fully own a $1 million home are over-whelmingingly people that you wouldn't have to include housing assets to consider millionaires anyway, as you mentioned. Because they either bought a home for that much when it was truly a substantial living situation and it's been enough time to where they've likely blown past that in career earnings and/or standard investments. Or they had/have enough liquidity to pay enough in cash to do it without a long-term mortgage, which means they had plenty to spare.

What about someone who has $700k in fairly liquid assets, bought in 2022 and only owns 30% of it, but the appreciation difference would technically put them over a million? Yes if they sold, they'd then have a million in cash/liquid assets, but unless they're going RV life they'll be back below again with the next down payment. Are they technically millionaires? Probably not.

This is a stupid argument anyway but I'd be willing a fair percentage of millionaires fall into this category.

[Bill Gates]

You're just using a weird example. People who fully own a $1 million home are over-whelmingingly people that you wouldn't have to include housing assets to consider millionaires anyway, as you mentioned. Because they either bought a home for that much when it was truly a substantial living situation and it's been enough time to where they've likely blown past that in career earnings and/or standard investments. Or they had/have enough liquidity to pay enough in cash to do it without a long-term mortgage, which means they had plenty to spare.

What about someone who has $700k in fairly liquid assets, bought in 2022 and only owns 30% of it, but the appreciation difference would technically put them over a million? Yes if they sold, they'd then have a million in cash/liquid assets, but unless they're going RV life they'll be back below again with the next down payment. Are they technically millionaires? Probably not.

This is a stupid argument anyway but I'd be willing a fair percentage of millionaires fall into this category.
Your net worth is the value of the assets that you own (equity) minus your debt. Those assets could be anything, assuming the value on the market is in fact real. Real estate, stocks, jewelry, BTC, valuable collectables, a Jordan rookie card, anything.

For most people their home is the biggest investment they will ever make, but it is still a legit investment just like any other. It is counted as wealth because it is literally wealth.

[rmt]

And? If you make a profit on ANY investment you have to pay taxes on the gain. If you make profit just working a job you have to pay taxes on your gain. If I own $1million in microsoft stock am I not a millionaire? Because that is an investment just like real estate is. You own something worth $1 million dollars.

You have neglected to consider taxes - with cash, there is no tax - you have whatever the cash is worth. With real estate, you will pay taxes if you have (most likely these days) a gain. A $1 million house will not NET you $1 million - you have to pay taxes, real estate agent's fee, documentary stamp tax, other expenses involved in sale. If it is investment property, you will have deal with depreciation recapture (meaning more taxes).

You do not make profit working a job. You may get RSUs (Restricted Stock Units) but that is taxed as ordinary income (likely more than capital gains tax).

[j3lademaster]

I think rmt and Shawk just have a different concept of millionaire than Bill Gates. Shawk and rmt think millionaire is a status or a lifestyle or level of financial security, like you should be able to afford certain things if you're in that class(I interpret it the same way). Gates is just looking at it like it's a number- you are or you aren't. If a billionaire has 3 billion in his portfolio no one is counting the cap gains tax there- he's just worth $3 bil. The whole 'millionaire' mystique has fizzled out in recent years because a 40 year old who bought 2 houses at 120k each in 2011 during the crisis can be a millionaire right now and be working a regular ass job.

Feel free to correct me if I'm wrong I never mean to put words in anyone's mouths.

[rmt]

I think rmt and Shawk just have a different concept of millionaire than Bill Gates. Shawk and rmt think millionaire is a status or a lifestyle or level of financial security, like you should be able to afford certain things if you're in that class(I interpret it the same way). Gates is just looking at it like it's a number- you are or you aren't. If a billionaire has 3 billion in his portfolio no one is counting the cap gains tax there- he's just worth $3 bil. The whole 'millionaire' mystique has fizzled out in recent years because a 40 year old who bought 2 houses at 120k each in 2011 during the crisis can be a millionaire right now and be working a regular ass job.

Feel free to correct me if I'm wrong I never mean to put words in anyone's mouths.

Correct. Getting back to the original topic - IMHO, it's doesn't matter if you have a million dollars or not if your cost of living is so high that it EATS AWAY at that $1 million.

I stand by what I said to Bill Gates regarding $1million cash not being the same as a $1 million house (especially if it's an investment - because of taxes, lack of federal $250k exemption and added depreciation in addition to normal selling expenses).

[ShawkFactory]

Your net worth is the value of the assets that you own (equity) minus your debt. Those assets could be anything, assuming the value on the market is in fact real. Real estate, stocks, jewelry, BTC, valuable collectables, a Jordan rookie card, anything.

For most people their home is the biggest investment they will ever make, but it is still a legit investment just like any other. It is counted as wealth because it is literally wealth.

Thanks, 9th grade economics teacher.

[RRR3]

Thanks, 9th grade economics teacher.
:roll:

[warriorfan]

https://i.postimg.cc/9FNmDqKh/IMG-5314.jpg

[highwhey]

big yikes




I’ve seen your posts and you just don’t know a lot about basketball.


I’m giving non homer takes, Klay has fallen off a cliff and refused to take a lesser role, and has been extremely childish throughout the whole process.

You don’t want to make the mistake the giants did and keep over paying guys who are way past their prime just because they were around for a few titles


If your definition of a fan is having no accountability and no criticisms when your team makes short sighted moves that will have negative effects lasting potentially for years to come….

Then I’m sorry, that is not a fan, you are just a shill and a cuck. It’s pretty pathetic.

https://i.postimg.cc/ydyP9Snp/Screenshot-2024-12-12-224107.png

[Bill Gates]

Thanks, 9th grade economics teacher.

Exactly. 9th grade is being generous too.

Some of you don't want to include real estate so had to go to the basic fundamentals. If you own a $1 million house, you're a millionaire, as basic as 1+1=2.

[Bill Gates]

IQ is much more about problem solving and logic than anything typed out in here.

https://i.ytimg.com/vi/2XnD0FbakMs/maxresdefault.jpg


Problems of this nature is what is found on a typical IQ test. This is more telling of your brain's abilities.

Language and vocab can be found in IQ tests as well, but they weigh heavier on mathematical ability and analytical thinking.

[warriorfan]

Does Bill Gates take it up the ass?

A: Yes
B: No
C: Maybe
D: Yes, takes it up the ass big time

[Bill Gates]

Did I trigger warriorfan into a furious rage as usual?

A: Yes
B. Yes
C: Yes
D: Yes

[warriorfan]

Did I trigger warriorfan into a furious rage as usual?

A: Yes
B. Yes
C: Yes
D: Yes

Your ass called. Asked to give it a break and stop taking it up it so hard.

[Bill Gates]

Your ass called. Asked to give it a break and stop taking it up it so hard.

Your drug dealer called, he's ready for his morning blow job.

[warriorfan]

Your drug dealer called, he's ready for his morning blow job.

Hey bro you are a little mixed up. You are the gay guy here that takes it up the ass hard. (Not that there’s anything wrong with that)

[Bill Gates]

Hey bro you are a little mixed up. You are the gay guy here that takes it up the ass hard. (Not that there’s anything wrong with that)

No bro you are mixed up. I didn't say you were gay, I said you suck dick every morning to feed your drug addiction. (There is something wrong with that)

[highwhey]

quite a lot of taking it up the ass talk from warriorfan. i wonder what's on his mind.
:biggums:

[j3lademaster]

https://i.postimg.cc/XNDC0Krm/Screenshot-13-12-2024-101254-www-writingtoiq-com.jpg (https://postimages.org/)

Move over, Hawking. This totally legit iq measure Warriorfan linked says I'm smarter than you.

[highwhey]

https://i.postimg.cc/XNDC0Krm/Screenshot-13-12-2024-101254-www-writingtoiq-com.jpg (https://postimages.org/)

Move over, Hawking. This totally legit iq measure Warriorfan linked says I'm smarter than you.

you just know this guy would take those 1 minute iq tests back in the myspace era and brag about it as if it was a legitimate measure of intelligence. :oldlol:

[warriorfan]

https://i.postimg.cc/XNDC0Krm/Screenshot-13-12-2024-101254-www-writingtoiq-com.jpg (https://postimages.org/)

Move over, Hawking. This totally legit iq measure Warriorfan linked says I'm smarter than you.

https://www.worlddata.info/average-penissize.php

Checkmate

[j3lademaster]

https://www.worlddata.info/average-penissize.php

CheckmateStop trying to bait me into sending you a dick pic, you fvcking weirdo.

[RRR3]

Stop trying to bait me into sending you a dick pic, you fvcking weirdo.
:roll: :roll: :roll:

[warriorfan]

Stop trying to bait me into sending you a dick pic, you fvcking weirdo.

im just posting hard evidence about ***** size

sorry to burst your bubble but I have a girlfriend and are not interested

@billgates is probably is though. he likes it up the ass big time.

[Lakers Legend#32]

On January 20th, Trump will claim the Biden/Harris economic success is his.

[JohnnySic]

https://pbs.twimg.com/media/Ges6oPqXQAEUuKA?format=jpg&name=small

[highwhey]

Stop trying to bait me into sending you a dick pic, you fvcking weirdo.

:oldlol: