Biden’s economy

[Anonymous]

Anonymous wrote:

Anonymous wrote:Oof, inflation in CA is higher than pre-pandemic
https://calmatters.org/economy/2024/03/california-inflation/

Grocery prices rising still
https://www.newschannel5.com/news/shoppers-face-grocery-price-hikes-despite-inflation-slowdown

Americans spending more on food costs than ever in the last three decades

https://www.cbsnews.com/amp/news/inflation-consumer-spending-food-and-restaurants-disposable-income-2024/


Record number of Americans can’t afford rent

https://apnews.com/article/affordable-housing-rent-eviction-price-harvard-congress-f5411012e10fa78d0257c137e60c1be3


Talk of massive recession looming in April/May time frame

https://markets.businessinsider.com/news/stocks/stock-market-outlook-crash-spx-berg-recession-speculation-nvidia-short-2024-3

Hold onto your hats folks, with half of Americans not being able to afford housing and the housing market essentially dead it’s not long before we see a huge downturn. Thanks to Bidenomics we have more Americans in debt than ever before, high food costs and half if Americans are late or can’t pay rent.

When housing is restricted (see NIMBYs fighting new development at every turn) the housing costs continue to rise. That is your housing inflation.
And the food costs are directly tied to what food producers and grocery stores charge. Both sectors are reported record profits - that is your food inflation.

What can government do?
Biden has provided significant funding for new housing in the form of block grants. This money is hitting the states now. The GOP uniformly voted against this funding.

The Democrats offered anti-gouging legilsation, and the GOP voted it down.

So while these things are bad, the democrats have tried to mitigate the effects and the GOP has shot it down or opposed. What is the GOP plan to fight inflation or bring housing/food costs down?

+1 Look at corporate profits since 2020. That’s your inflation, people.
https://fred.stlouisfed.org/series/CP

[Anonymous]

“Research from financial services company Northwestern Mutual found that excluding mortgages, the average personal debt per individual sat at $21,800 in 2023, significantly lower than the $29,800 recorded in 2019.”

That’s a 27% nominal drop. Add in strong job and wage growth and debt as a percentage of household income has dropped over 40%. No folks, the sky is not falling….the American consumer is in great shape.

[Anonymous]

Anonymous wrote:“Research from financial services company Northwestern Mutual found that excluding mortgages, the average personal debt per individual sat at $21,800 in 2023, significantly lower than the $29,800 recorded in 2019.”

That’s a 27% nominal drop. Add in strong job and wage growth and debt as a percentage of household income has dropped over 40%. No folks, the sky is not falling….the American consumer is in great shape.

I mean, there are problems with the economy, but the GOP will not do anything to fix them.

[Anonymous]

February jobs report: US economy adds 275,000 jobs, unemployment rate hits 3.9%

[Anonymous]

Another strong jobs report. The US economy added 275,000 jobs in February as the hiring boom continues. (Hiring was 229k in January and 290k in December.)

Unemployment rate: 3.9% —> It’s been below 4% for two years

Wages: 4.3% in past year (above 3.1% inflation)





(and this is why it will be bad for Joe Biden)

[Anonymous]

Anonymous wrote:Another strong jobs report. The US economy added 275,000 jobs in February as the hiring boom continues. (Hiring was 229k in January and 290k in December.)

Unemployment rate: 3.9% —> It’s been below 4% for two years

Wages: 4.3% in past year (above 3.1% inflation)





(and this is why it will be bad for Joe Biden)

These are trash jobs look at what is happening in tech where the good jobs are, it's horrible

[Anonymous]

Anonymous wrote:

Anonymous wrote:Another strong jobs report. The US economy added 275,000 jobs in February as the hiring boom continues. (Hiring was 229k in January and 290k in December.)

Unemployment rate: 3.9% —> It’s been below 4% for two years

Wages: 4.3% in past year (above 3.1% inflation)





(and this is why it will be bad for Joe Biden)

These are trash jobs look at what is happening in tech where the good jobs are, it's horrible

I guess 4.3% year over year wage growth just doesn't do it for you. Sigh, there's no pleasing the MAGAs who are rooting against America and the economy.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Another strong jobs report. The US economy added 275,000 jobs in February as the hiring boom continues. (Hiring was 229k in January and 290k in December.)

Unemployment rate: 3.9% —> It’s been below 4% for two years

Wages: 4.3% in past year (above 3.1% inflation)





(and this is why it will be bad for Joe Biden)

These are trash jobs look at what is happening in tech where the good jobs are, it's horrible

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Another strong jobs report. The US economy added 275,000 jobs in February as the hiring boom continues. (Hiring was 229k in January and 290k in December.)

Unemployment rate: 3.9% —> It’s been below 4% for two years

Wages: 4.3% in past year (above 3.1% inflation)





(and this is why it will be bad for Joe Biden)

These are trash jobs look at what is happening in tech where the good jobs are, it's horrible

I guess 4.3% year over year wage growth just doesn't do it for you. Sigh, there's no pleasing the MAGAs who are rooting against America and the economy.

+1 They can’t deny the abundance of jobs so now they claim the quality of the jobs is low. But the wage data proves otherwise: 4.3% wage growth vs 3.1% inflation; proves that the quality is improving as well as the quantity.

[Anonymous]

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Another strong jobs report. The US economy added 275,000 jobs in February as the hiring boom continues. (Hiring was 229k in January and 290k in December.)

Unemployment rate: 3.9% —> It’s been below 4% for two years

Wages: 4.3% in past year (above 3.1% inflation)

(and this is why it will be bad for Joe Biden)

These are trash jobs look at what is happening in tech where the good jobs are, it's horrible

I bet it physically pained him to say that.

[Anonymous]

Anonymous wrote:

That's great for the stock market. Increases chances of the start of the rate cut cycle.

[Anonymous]

Anonymous wrote:

Still a bigger number than almost any of Trump’s pre-Covid.
https://data.bls.gov/timeseries/CES0000000001?output_view=net_1mth

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Still a bigger number than almost any of Trump’s pre-Covid.
https://data.bls.gov/timeseries/CES0000000001?output_view=net_1mth

Crazy stats about the true state of labor market you won't hear anywhere else:

1. In the past year, the US has lost 284K full-time jobs, these have been replaced with 921K part-time jobs

2. In February alone, a record 1.2 million foreign-born jobs were added.

3. In the past three months, a record (ex-covid crash) 2.4 million native-born jobs have been lost, including 494K jobs lost in February.

4. Most shocking, since May 2018, there have been ZERO jobs created for native-born Americans. All jobs in the past 6 years have gone to immigrants, legal and illegal.

[Anonymous]

And yet, it is still better than anything Trump delivered.

So you all can keep on pooh poohing it, but the numbers don't lie.