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Started By
Message
Biden policies hitting home
Posted on 10/24/22 at 10:32 pm
Posted on 10/24/22 at 10:32 pm
Well,
After several years with the same homebuilding company, today was layoff day for 25% of the company. Got the email at 6:30 for a mandatory 9:00 meeting. Employees from a receptionist to head of operations seated together taking a licking. Its hitting home for me now. Sales have basically tanked, and with interest rates still moving, probably wont reset itself for a good while. I start the job hunt tomorrow. Buckle down boys, this is the real deal...
After several years with the same homebuilding company, today was layoff day for 25% of the company. Got the email at 6:30 for a mandatory 9:00 meeting. Employees from a receptionist to head of operations seated together taking a licking. Its hitting home for me now. Sales have basically tanked, and with interest rates still moving, probably wont reset itself for a good while. I start the job hunt tomorrow. Buckle down boys, this is the real deal...
13
Posted on 10/25/22 at 6:57 am to KCkid
but no mean tweets!
Posted on 10/25/22 at 7:02 am to KCkid
Sucks.
Good luck, man.
Sometimes, this could work out even better (job with more vertical opportunity).
Good luck, man.
Sometimes, this could work out even better (job with more vertical opportunity).
Posted on 10/25/22 at 7:45 am to KCkid
Wait. I am probably the biggest Biden hater there is, but what policies did he have that hurt your biz?
You need to look at the federal reserve and even then, your company was built on the back of free money. A company that only exists in low rate environments was never real to begin with.
You need to look at the federal reserve and even then, your company was built on the back of free money. A company that only exists in low rate environments was never real to begin with.
Posted on 10/25/22 at 7:50 am to I Love Bama
quote:
Wait. I am probably the biggest Biden hater there is, but what policies did he have that hurt your biz?
You need to look at the federal reserve and even then, your company was built on the back of free money. A company that only exists in low rate environments was never real to begin with.
I agree, i mean, look at how ridiculously low interest rates were for 12 years, the fed was basically giving away money, at some point that has got to stop and was probably 11 years too late
Posted on 10/25/22 at 8:24 am to I Love Bama
What y’all don’t realize is that Biden is pretty moderate and we’re never going back to normal
The suffering we’re going through now is just the beginning of reparations
The suffering we’re going through now is just the beginning of reparations
Posted on 10/25/22 at 8:31 am to el Gaucho
Probably right. Just venting I guess.
Posted on 10/25/22 at 9:22 am to hubertcumberdale
quote:
I agree, i mean, look at how ridiculously low interest rates were for 12 years, the fed was basically giving away money, at some point that has got to stop and was probably 11 years too late
Agreed...sorry you lost your job but Biden isn't to blame for the interest rate environment your company existed in for the previous 12 years. You can blame him for a lot of things, but rising interest rates aren't one of them.
Posted on 10/25/22 at 9:42 am to KCkid
It is sad that instead of cutting red tape and opening up the supply side of things they decided to cut inflation by killing the economy/killing demand. They could have lowered energy costs and it be much better for everyone.
This is on Democrats.
This is on Democrats.
Posted on 10/25/22 at 9:42 am to iAmBatman
quote:
Agreed...sorry you lost your job but Biden isn't to blame for the interest rate environment your company existed in for the previous 12 years. You can blame him for a lot of things, but rising interest rates aren't one of them.
False. Much of inflation is due to energy prices.
Posted on 10/25/22 at 9:46 am to iAmBatman
"Agreed...sorry you lost your job but Biden isn't to blame for the interest rate environment your company existed in for the previous 12 years. You can blame him for a lot of things, but rising interest rates aren't one of them."
I would argue that Biden is not responsible for much of the current interest rate environment, but adding a $1.9 trillion stimulus to an economy that had already recovered exacerbated the situation, as did the inaction due to labeling inflation as transitory. I may be wrong, but I think the fed and the treasury secretary chose a political path in order to assist in getting the bill passed. Yellen was a big cheerleader for the bill, and insisted that inflation was transitory. I never bought that.
I would argue that Biden is not responsible for much of the current interest rate environment, but adding a $1.9 trillion stimulus to an economy that had already recovered exacerbated the situation, as did the inaction due to labeling inflation as transitory. I may be wrong, but I think the fed and the treasury secretary chose a political path in order to assist in getting the bill passed. Yellen was a big cheerleader for the bill, and insisted that inflation was transitory. I never bought that.
Posted on 10/25/22 at 10:02 am to lsu13lsu
quote:
They could have lowered energy costs and it be much better for everyone.
Energy prices have been on a fire sale since 2014 due to industry over investment in shale oil and gas, its all cyclical and really nothing whatsoever to do with who is president at any given time
Posted on 10/25/22 at 10:12 am to KCkid
quote:
Sales have basically tanked, and with interest rates still moving,
Why not build cheaper houses instead of $800,000? It is possible with materials now. Sellers are asking ridiculous prices for homes. Greed is getting the better of them.
Posted on 10/25/22 at 10:30 am to hubertcumberdale
quote:
its all cyclical and really nothing whatsoever to do with who is president at any given time
Posted on 10/25/22 at 11:04 am to lsu13lsu
any further context other than cute emojis?
Posted on 10/25/22 at 11:19 am to hubertcumberdale
Actually, I think Biden does share some blame in this. Why are we raising interest rates in the first place? to combat inflation or so I'm told. Who is primarily responsible for inflation? Politicians with out of control spending and the idiots who attack the lifeblood of our economy (oil and gas). Frick the filth that is Washington DC!
Posted on 10/25/22 at 11:25 am to ThermoDynamicTiger
quote:
Actually, I think Biden does share some blame in this. Why are we raising interest rates in the first place? to combat inflation or so I'm told. Who is primarily responsible for inflation? Politicians with out of control spending
I mean by this logic, Trump is just as much to blame for his ridiculous spending during his presidency
quote:
idiots who attack the lifeblood of our economy (oil and gas).
the oil and gas industry has been in a recession since 2014, with no one other than the oil and gas industry to blame for over investment in the industry when prices were astronomically high (2009-2014), which increased domestic production and absolutely incinerated prices for ~7 years (2014 - 2021). Since covid, many oil companies (who were already on their last leg due to commodity prices since 2014) went bankrupt or were bought out by the big boys, and investment in the industry has plummeted due to decreased demand during the pandemic (oil hit -$40/bbl in April 2020). Now that lockdowns are over, the industry cannot just automatically restore production to pre-pandemic levels, as you are seeing with shortages in literally every industry in the economy
This post was edited on 10/25/22 at 11:27 am
Posted on 10/25/22 at 11:27 am to KCkid
so learn to code, Jack
Posted on 10/25/22 at 11:42 am to hubertcumberdale
This shouldn't be a political thread.
But it is dishonest to treat lockdowns (and aid) the first 8 months of the pandemic the same as lockdowns during months with the vaccine and more of an understanding of who was at risk (months 13-20).
There were obvious winners and losers with hindsight being 20/20.
It is also dishonest to pretend that the Fed and Treasury were consistently correct in their prescription to treat the economy. They couldn't even accurately diagnose the current stages of inflation. How could they "help" with their analysis for moving forward?
Biden policies hurt. They are not solely responsible for upcoming job losses. But hindsight is 20/20, here. They were the opposite of helpful.
But it is dishonest to treat lockdowns (and aid) the first 8 months of the pandemic the same as lockdowns during months with the vaccine and more of an understanding of who was at risk (months 13-20).
There were obvious winners and losers with hindsight being 20/20.
It is also dishonest to pretend that the Fed and Treasury were consistently correct in their prescription to treat the economy. They couldn't even accurately diagnose the current stages of inflation. How could they "help" with their analysis for moving forward?
Biden policies hurt. They are not solely responsible for upcoming job losses. But hindsight is 20/20, here. They were the opposite of helpful.
Posted on 10/25/22 at 11:58 am to KCkid
(no message)
This post was edited on 10/26/22 at 9:17 am
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