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“Our Country Cannot Continue To Accept This Level Of Failure” Senator Shelley Moore Capito Unleashes Critique of Bidenomics.

RicoSuave102954

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Jul 17, 2023
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In a recent address on the Senate floor, Senator Shelley Moore Capito (R-WV) aimed at what she perceives as the Biden Administration’s failures, starting with the escalating crisis at the southern border.

Capito highlighted the staggering statistic of 6.7 million illegal encounters since President Biden assumed office, equating it to adding another state to the nation—a state larger than her home state of West Virginia.

Economic Struggles and Soaring Prices​

Senator Capito didn’t limit her critique to the border, extending it to the economic landscape shaped by Bidenomics.

She argued that the relentless pursuit of economic policies has led to skyrocketing prices, leaving American families grappling with the challenge of putting food on the table.

Capito pointed out a 177% rise in cumulative overall prices since January 2021, with food prices increasing by 20%, energy prices by 32%, and rent prices by 19%. According to her, the Bidenomics approach translates to Americans spending more and getting less.

National Security Concerns​

Turning her attention to national security, Capito accused President Biden of owning a foreign policy record marred by botched withdrawals, displays of weakness, and regrettable decision-making.

She specifically pointed to the disastrous withdrawal from Afghanistan in 2021, asserting that it damaged trust with allies, projected weakness globally, and emboldened adversaries.

The Senator also criticized Biden’s handling of Iran, highlighting what she sees as disastrous decisions, including delisting the Houthis as an FTO and engaging in fruitless nuclear negotiations.

Biden’s America on the Brink of Collapse​

Senator Capito’s comprehensive critique covered a range of issues, from border security to economic challenges and national security concerns.

As she called for a reversal of course, she emphasized the need for solutions that address border policies, support small businesses, unleash American energy, and strengthen the country’s standing in the world.

The senator urged a departure from what she considers a level of failure that has become “normal” under the current administration.


 
Blue collar America is suffering.

Blue collar America can't pay their bills.

Bidenomics has put homeownership out of reach for middleclass America
Home prices shot through the roof after Trumps tax breaks. 3% rates encouraged people pay more for a house.

Tell me your a moron by stating garbage, repeatedly. Go sell this crap to your MAGA buddies. Historically low interest rates for over a decade + low unemployment = low inventory = skyrocketed home costs.
 
Home prices shot through the roof after Trumps tax breaks. 3% rates encouraged people pay more for a house.

Tell me your a moron by stating garbage, repeatedly. Go sell this crap to your MAGA buddies. Historically low interest rates for over a decade + low unemployment = low inventory = skyrocketed home costs.
Bidenomics has made homeownership just a dream for middle America.
 
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Do you understand what rising interest rates do?
They curb selling prices of houses that were over valued because of long running low rate.

No time in US history had we seen 3% rates. The 80's rates were in the teens. I bought my first house in 2000 at 8.5%, my 2nd in 2006 at 6.5%.

Since I bought my 3rd house in 2013 peole have been paying almost full price , and for few years they paid over asking. Nobody wants to sell at a loss, so until inventory level rise people are going to try and sell at the inflated cost they paid. We are 16 years past the last recession, that's a pretty long run.
 
They curb selling prices of houses that were over valued because of long running low rate.

No time in US history had we seen 3% rates. The 80's rates were in the teens. I bought my first house in 2000 at 8.5%, my 2nd in 2006 at 6.5%.

Since I bought my 3rd house in 2013 peole have been paying almost full price , and for few years they paid over asking. Nobody wants to sell at a loss, so until inventory level rise people are going to try and sell at the inflated cost they paid. We are 16 years past the last recession, that's a pretty long run.
Translation = must defend Bidenomics despite its obvious failure.
 
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Translation = must defend Bidenomics despite its obvious failure.
Where did I defend anything? I am stating what basic economic principles have on the topic of home prices. Any president economic policies have a minimum lag of about a year.

I have lots of issues with Biden's economic policies. But I have bigger issues with Trump trying to run the country like one of his bankrupt businesses. Trump's gave out a bunch of tax cuts, got a lot of promises from companies to create jobs that didn't. Both have deficit spending. At least Biden has done something with medical costs and infrastructure, you know actual money back into the middle class. The CHIPS bill is huge for long term national security. Legislation wise, Biden has kicked Trumps ass.

All said, neither of these geriatrics should be running. I'll take old and senile over old and batshit crazy.
 
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Home prices shot through the roof after Trumps tax breaks. 3% rates encouraged people pay more for a house.

Tell me your a moron by stating garbage, repeatedly. Go sell this crap to your MAGA buddies. Historically low interest rates for over a decade + low unemployment = low inventory = skyrocketed home costs.
I am sorry, but I am in the business and can 100% tell you the American dream of home ownership was WAY better under Trump then Biden, and it is not even close to debatable. Now with that said, TRUMP can freaking fall off the eather and disappear forever!!!!!
 
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In a recent address on the Senate floor, Senator Shelley Moore Capito (R-WV) aimed at what she perceives as the Biden Administration’s failures, starting with the escalating crisis at the southern border.

Capito highlighted the staggering statistic of 6.7 million illegal encounters since President Biden assumed office, equating it to adding another state to the nation—a state larger than her home state of West Virginia.

Economic Struggles and Soaring Prices​

Senator Capito didn’t limit her critique to the border, extending it to the economic landscape shaped by Bidenomics.

She argued that the relentless pursuit of economic policies has led to skyrocketing prices, leaving American families grappling with the challenge of putting food on the table.

Capito pointed out a 177% rise in cumulative overall prices since January 2021, with food prices increasing by 20%, energy prices by 32%, and rent prices by 19%. According to her, the Bidenomics approach translates to Americans spending more and getting less.

National Security Concerns​

Turning her attention to national security, Capito accused President Biden of owning a foreign policy record marred by botched withdrawals, displays of weakness, and regrettable decision-making.

She specifically pointed to the disastrous withdrawal from Afghanistan in 2021, asserting that it damaged trust with allies, projected weakness globally, and emboldened adversaries.

The Senator also criticized Biden’s handling of Iran, highlighting what she sees as disastrous decisions, including delisting the Houthis as an FTO and engaging in fruitless nuclear negotiations.

Biden’s America on the Brink of Collapse​

Senator Capito’s comprehensive critique covered a range of issues, from border security to economic challenges and national security concerns.

As she called for a reversal of course, she emphasized the need for solutions that address border policies, support small businesses, unleash American energy, and strengthen the country’s standing in the world.

The senator urged a departure from what she considers a level of failure that has become “normal” under the current administration.


The point is the collapse. That way they can sweep in with a new world order.
 
I am sorry, but I am in the business and can 100% tell you the American dream of home ownership was WAY better under Trump then Biden, and it is not even close to debatable. Now with that said, TRUMP can freaking fall off the eather and disappear forever!!!!!
The atmosphere to buy was better, I agree. Historically low rates encouraged people to buy. The downside of that demand is that it drove up selling prices. New benchmark selling prices has hurt the current market buyers as they have double the interest rate. Nobody wants to sell their house for less than it was valued at a year or 2 ago.

I'm saying 3% rates were unsustainable and over inflated home purchase values. Who wants to only make 3% returns on their money? Definitely not the lenders and the bond market. Raising the rates was painful, but it was going to happen.
 
Just take your meds....and go back to your basement. :rolleyes:


harvard_jchs_single_family_rentals_hermann_2023_fig_1_sm.png


It is now 16% vs ~10% in 2000.

And it is why homes for purchase are scarcer. Investors are buying up homes and renting them. Probably a 10-15% loss of sales inventory for home purchases over the last 2-3 decades.

 
The atmosphere to buy was better, I agree. Historically low rates encouraged people to buy. The downside of that demand is that it drove up selling prices. New benchmark selling prices has hurt the current market buyers as they have double the interest rate. Nobody wants to sell their house for less than it was valued at a year or 2 ago.

I'm saying 3% rates were unsustainable and over inflated home purchase values. Who wants to only make 3% returns on their money? Definitely not the lenders and the bond market. Raising the rates was painful, but it was going to happen.

Fewer starter homes are available for sale, because investors are predominantly buying up those less expensive homes and renting them out. Tack on AirBnB and other "owner rental" apps and you have even fewer available for purchase. It is a growing proportion of the markets, that did not exist 2-3 decades ago.
 
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The atmosphere to buy was better, I agree. Historically low rates encouraged people to buy. The downside of that demand is that it drove up selling prices. New benchmark selling prices has hurt the current market buyers as they have double the interest rate. Nobody wants to sell their house for less than it was valued at a year or 2 ago.

I'm saying 3% rates were unsustainable and over inflated home purchase values. Who wants to only make 3% returns on their money? Definitely not the lenders and the bond market. Raising the rates was painful, but it was going to happen.
I do agree that for a "Heathy" economy a 5%-6% mark is where we should be. And yes, rates at some point needed to go up. But adding to inflation was simply not the way to do it.
 
I am sorry, but I am in the business and can 100% tell you the American dream of home ownership was WAY better under Trump then Biden, and it is not even close to debatable. Now with that said, TRUMP can freaking fall off the eather and disappear forever!!!!!
First of all, the American dream of home ownership was way easier under the fed policy of extreme low rates and QE. QE is over (as it should be) and inflation was inevitable after the pandemic--regardless of the president in office. Unfortunately or fortunately, the fed doesn't have a lot of tools to combat inflation and raising rates is the main one. Rates will start to come down, but they will likely never be as low as we saw post-2008 melt down.
 
First of all, the American dream of home ownership was way easier under the fed policy of extreme low rates and QE. QE is over (as it should be) and inflation was inevitable after the pandemic--regardless of the president in office. Unfortunately or fortunately, the fed doesn't have a lot of tools to combat inflation and raising rates is the main one. Rates will start to come down, but they will likely never be as low as we saw post-2008 melt down.
I am truly happy they will never be that low. And, yes...both parties are to blame for them being that low for so long. That indeed was a bubble that would eventually burst. But, there were other options besides just raising rates (which did have to happen)........like cutting spending, cutting any reliance on foreign energy imports, ect.
 
In a recent address on the Senate floor, Senator Shelley Moore Capito (R-WV) aimed at what she perceives as the Biden Administration’s failures, starting with the escalating crisis at the southern border.

Capito highlighted the staggering statistic of 6.7 million illegal encounters since President Biden assumed office, equating it to adding another state to the nation—a state larger than her home state of West Virginia.

Economic Struggles and Soaring Prices​


 
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Home prices shot through the roof after Trumps tax breaks. 3% rates encouraged people pay more for a house.

Tell me your a moron by stating garbage, repeatedly. Go sell this crap to your MAGA buddies. Historically low interest rates for over a decade + low unemployment = low inventory = skyrocketed home costs.
Not to mention corporate investment in short term rentals skyrocketing demand.
 
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I am sorry, but I am in the business and can 100% tell you the American dream of home ownership was WAY better under Trump then Biden, and it is not even close to debatable. Now with that said, TRUMP can freaking fall off the eather and disappear forever!!!!!
Trumps big economic mistakes were twofold: 1) he bullied the Fed into maintaining LOW interest rates to keep the economy chugging fir his re-election when the better long range plane was to allow these rates to raise as the economy was getting stronger and 2) his “tax cut” was fully unnecessary and was nothing but an attempt to win re-election. These two things, in tandem set up the US economy for at least part of the inflation that followed.
 
Wow! You are so removed from reality.

The working middle class are having a hard time buying food and keeping a roof over their heads, they don't even look at the DOW.
I consider myself middle class and I work. Same with my kids. We all are better off now than several years ago or at the very least pretty much the same. Biden isn’t perfect by any means and I wish someone younger would run. That being said, he isn’t trying to take over the world so he is a no brainer over Orange Julius…
 
I consider myself middle class and I work. Same with my kids. We all are better off now than several years ago or at the very least pretty much the same. Biden isn’t perfect by any means and I wish someone younger would run. That being said, he isn’t trying to take over the world so he is a no brainer over Orange Julius…
Calling someone Orange Julius borders on a racist comment doesn't it?
 
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