Goldman Says Manchin Just Damaged the U.S. Outlook

Discussion in 'Economics' started by piezoe, Dec 20, 2021.

  1. piezoe

    piezoe

    This piece found in in today's Bloomberg happens to agree with my own assessment that killing Biden's build back better plan would be a big mistake and a setback for the U.S. economy going forward. The BBB plan is loaded with economic help for the middle class that would not only help bring the U.S. up to the standards of the industrialized countries we compete with but also provide significant demand side stimulus along with the jobs needed to meet the demand... Here is what Goldman had to say:

    The uber-rich of America may be elated that Joe Manchin suddenly and unexpectedly torpedoed fellow Democrat Joe Biden’s economic blueprint (otherwise known as “Build Back Better”), but Goldman Sachs said the move by the West Virginia senator is bad news for the future of the U.S. economy. After a few days of public condemnation of the coal state lawmaker, including White House protestations that he went back on his word, on Monday it was looking like Democrats and the administration were moving on (though with plans to drive home their displeasure). But Manchin, who (along with Arizona Democrat Kyrsten Sinema) spent the better part of 2021 dangling the White House, looks to be signaling he wants to be courted again—albeit with proposals that may be impossible for President Biden to accommodate. It adds credence to the school of thought that this is all just one ornate dance, and that the music hasn’t stopped just yet.​
     
  2. ipatent

    ipatent

    Interesting. Examples?
     
    Bugsy likes this.
  3. piezoe

    piezoe

  4. Standard political theatre. It will pass, stop kvetching and trade the rumor.
     
  5. ktm

    ktm

    Bloomberg? Of course that's what Bloomberg will say.

    You should consider actually reading the bill and seeing all the other stuff in there that has nothing to do with the middle class or helping poor people. Congress should be ashamed of the stuff that's in there and the public would be outraged.
     
    Bugsy and Clubber Lang like this.
  6. deaddog

    deaddog

    Where can we read the actual bill?
     
  7. ph1l

    ph1l

    AKUMATOTENSHI likes this.
  8. This.

    I hope his party continues to go after him, pissing him off so bad that he continues to tell them to FvCK OFF for the foreseeable future.

    Holy shit. Who keeps voting these uneducated degenerates into office?
     
  9. deaddog

    deaddog

  10. Overnight

    Overnight

    The problem with the whole system is...

    They run on a platform and say they will do this or that. Once they get into office, they reverse course and become a degenerate, but there is no way to get them out of office immediately. We have to let them run their toxic course, and hope we can vote them out after two, four or how ever many years is their term.

    By then the damage is done.
     
    #10     Dec 20, 2021