The Shining City Upon a Hill

[Phil B.]

Re: The Shining City Upon a Hill

THIS list of words being redefined under the Biden admin has Twitter FREAKING OUT: 'What a strategy!' - TheBlaze

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[SalesServiceGuy]

Re: The Shining City Upon a Hill

THIS list of words being redefined under the Biden admin has Twitter FREAKING OUT: 'What a strategy!' - TheBlaze

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... the last quarter GDP was barely negative. Many parts of the USA are booming. Recession is another right wing talking point to distract from the Jan 6th committee hearing reports and the fabulous news about the new Chip Act and the new Inflation Act of 2022.

Despite feverish Republican zeal to block any positive news in the USA, President Biden and the Democrats are making positive changes in America happen.

[SalesServiceGuy]

Re: The Shining City Upon a Hill

Congress passes bill boosting US semiconductor production



The House of Representatives on Thursday passed a long-awaited bill aimed at boosting US semiconductor production in a bid to increase American competitiveness, a bipartisan achievement that will send tens of billions of dollars into American manufacturing and scientific research.

The final vote was 243-187 with one Democrat, Rep. Sara Jacobs of California, whose family founded the Qualcomm telecom company, voting present. Twenty-four Republicans crossed over to join Democrats in backing the bill, despite House GOP leadership whipping against the package.
The bill passed the Senate on Wednesday with broad bipartisan support, meaning it now goes to President Joe Biden to be signed into law.

The vote was closer than originally anticipated. Following Senate Democrats' announcement of a deal on Wednesday evening for a separate economic package, Republican sources told CNN that House GOP leaders would whip against the semiconductor legislation, reversing their earlier stance.

The legislation is aimed at addressing a semiconductor chip shortage and making the US less reliant on other countries such as China for manufacturing. Supporters say the measure is important not only for US technological innovation, but for national security as well.

There had been some concern among Democratic leaders that some progressives might oppose the bill, following opposition from independent Sen. Bernie Sanders of Vermont.

Pramila Jayapal, the chairwoman for the Congressional Progressive Caucus, said Wednesday she hadn't whipped her members over the legislation, but highlighted discussions with Commerce Secretary Gina Raimondo, whose been the Biden administration's chief advocate for the package, as a sign that progressives will likely back it. Raimondo met again with members of the Progressive Caucus just a few hours before the vote.

In the end, progressives joined the rest of the party in supporting the bill.

The semiconductor bill sets up incentives for domestic semiconductor manufacturing as well as research and development and includes more than $50 billion in funding for that aim.

The legislation also includes a number of provisions aimed at bolstering scientific research, including authorizing billions of dollars for the National Science Foundation, the Department of Commerce and the National Institute of Standards and Technology.

... another great achievement awaiting being signed into law by President Biden!

[copiertec]

Re: The Shining City Upon a Hill

... the last quarter GDP was barely negative. Many parts of the USA are booming. Recession is another right wing talking point to distract from the Jan 6th committee hearing reports and the fabulous news about the new Chip Act and the new Inflation Act of 2022.

Despite feverish Republican zeal to block any positive news in the USA, President Biden and the Democrats are making positive changes in America happen.

Not according to the CCI, seems the consumer confidence is slumping.
Leading indicators - Consumer confidence index (CCI) - OECD Data

[SalesServiceGuy]

Re: The Shining City Upon a Hill

Not according to the CCI, seems the consumer confidence is slumping.
Leading indicators - Consumer confidence index (CCI) - OECD Data

... last quarter GDP was down .09% ( just under 1%). Less than the first quarter, at 0.016%

The economy may look like it'''s in recession, but we still don'''t know for sure

[copiertec]

Re: The Shining City Upon a Hill

... last quarter GDP was down .09% ( just under 1%). Less than the first quarter, at 0.016%

The economy may look like it'''s in recession, but we still don'''t know for sure

I have a friend in the car repossession business this year is his busiest year in over 20 years so far.

Car Repos Are Exploding. That’s a Bad Omen. | Barron's

[copiertec]

Re: The Shining City Upon a Hill

... last quarter GDP was down .09% ( just under 1%). Less than the first quarter, at 0.016%

The economy may look like it'''s in recession, but we still don'''t know for sure

Let's not forget home foreclosure rates are on the rise as well and continuing to rise.
Foreclosure Rates for All 50 States in June 2022 | SoFi

U.S. Foreclosure Activity Increases in First Six Months of 2022 | ATTOM

[slimslob]

Re: The Shining City Upon a Hill

... last quarter GDP was down .09% ( just under 1%). Less than the first quarter, at 0.016%

The economy may look like it'''s in recession, but we still don'''t know for sure

When did 0.09 become less that 0.016? Do the math, it is 5.625 times larger. Also by definition 2 consecutive quarters of decline is a recession, regardless of the size of the decline.

[Phil B.]

Re: The Shining City Upon a Hill

Devastating Allegation: FBI Whistleblowers Leaked Damning Details About Agency's Relationship with Pres. Biden

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[slimslob]

Re: The Shining City Upon a Hill

Let's not forget home foreclosure rates are on the rise as well and continuing to rise.
Foreclosure Rates for All 50 States in June 2022 | SoFi

U.S. Foreclosure Activity Increases in First Six Months of 2022 | ATTOM

We may be looking at another housing bubble, just like 2006-2008. Prices are rising, mortgage rates are rising and foreclosures are rising. As it is current going, it won't be long before we se mortgage bank collapsing, again. We may even be heading into another Great Depression.

[copiertec]

Re: The Shining City Upon a Hill

When did 0.09 become less that 0.016? Do the math, it is 5.625 times larger. Also by definition 2 consecutive quarters of decline is a recession, regardless of the size of the decline.

two consecutive quarters of GDP used to be "recession" territory, seems the powers to be are trying to redefine recession. Two of the most things that consumers spend money on are cars and homes, seems the foreclosure rates are on the rise as well as car repossessions as well, the facts are there you just have to look for them. The dream of home ownership and car ownership seem to be dwindling, that is not a sign of a good economy. As a matter of fact RE/MAX just laid off 15% of it's workforce, I will pull the #'s up, another sign of a shrinking economy.
Layoffs Sweeping the US: Shopify, Coinbase Making Cuts

[slimslob]

Re: The Shining City Upon a Hill

two consecutive quarters of GDP used to be "recession" territory, seems the powers to be are trying to redefine recession. Two of the most things that consumers spend money on are cars and homes, seems the foreclosure rates are on the rise as well as car repossessions as well, the facts are there you just have to look for them. The dream of home ownership and car ownership seem to be dwindling, that is not a sign of a good economy. As a matter of fact RE/MAX just laid off 15% of it's workforce, I will pull the #'s up, another sign of a shrinking economy.
Layoffs Sweeping the US: Shopify, Coinbase Making Cuts

Remember Al Gore's campaign speech in 1992, "everything that should be up is going down, everything that should be down is going up"? And the economy was no where near being as bad as it is now.

[slimslob]

Re: The Shining City Upon a Hill

... last quarter GDP was down .09% ( just under 1%). Less than the first quarter, at 0.016%

The economy may look like it'''s in recession, but we still don'''t know for sure

When did 0.09 become less that 0.016? Do the math, it is 5.625 times larger. Also by definition 2 consecutive quarters of decline is a recession, regardless of the size of the decline.

And upon checking, it was not 0.09, it was 0.9. That is ten time greater that 0.09. And the first quarter was actually 1.6 not 0.016. I wonder what orifice SalesServiceGuy pulled his numbers out of.

We are definitely in a recession.

Economy in recession range, with GDP contracting 0.9% in second quarter | Washington Examiner

[slimslob]

Re: The Shining City Upon a Hill

Whistleblower: Same FBI Boss Who Shut Down Hunter Dirt Also Pressured Agents to Juice Domestic Violent Extremism Stats

[slimslob]

Re: The Shining City Upon a Hill

Writer of '10%' email confirms 'big guy' is Joe Biden