Biden’s economy

[Anonymous]

Anonymous wrote:“I’ve hesitated to say this at the risk of sounding hyperbolic, but with last week’s big GDP revisions, there is no denying it: This is among the best performing economies in my 35+ years as an economist. Economic growth is rip-roaring, with real GDP up 3% over the past year. Unemployment is low at near 4%, consistent with full employment. Inflation is fast closing in on Fed’s 2% target - grocery prices, rents and gas prices are flat to down over the past more than a year. Households’ financial obligations are light, and set to get lighter with the Fed cutting rates. House prices have never been higher, and most homeowners have more equity in their homes than ever. Corporate profits are robust, and the stock market is hitting a record high on a seemingly daily basis. Of course there are blemishes, as lower-income households are struggling financially, there is a severe shortage of affordable homes, and the government is running large budget deficits. And things could change quickly. There are plenty of threats. But in my time as an economist, the economy has rarely looked better.”
- Mark Zandi, chief economist, Moody’s
https://x.com/markzandi/status/1840488882405614037?s=46&t=kf1qYlCXQnKgUhJWEIu2vg

This lines up with what I see. Restaurants are packed, airports are crowded, hotels full. Even after the housing price run, inflating net worths, people are still snatching up houses soon as they hit the market. Wages have jumped the last few years, so have 401k’s!

[Anonymous]

https://fortune.com/2024/10/01/economy-roaring-20s-ubs-growth-unemployment-inflation/#

UBS Bank: In a note released yesterday, Draho wrote that by the bank’s criteria the U.S. economy is already in another Roaring ’20s.

“It’s no longer too soon nor too optimistic to suggest that the US will experience a Roaring ‘20s economy. It already is by our criteria, with the relevant question being whether these conditions will continue, not whether they will materialize.

“The odds continue to rise for this bull-case scenario, with many recent developments on the demand side, supply side, and monetary policy all supportive.”

[Anonymous]

Anonymous wrote:

Anonymous wrote:“I’ve hesitated to say this at the risk of sounding hyperbolic, but with last week’s big GDP revisions, there is no denying it: This is among the best performing economies in my 35+ years as an economist. Economic growth is rip-roaring, with real GDP up 3% over the past year. Unemployment is low at near 4%, consistent with full employment. Inflation is fast closing in on Fed’s 2% target - grocery prices, rents and gas prices are flat to down over the past more than a year. Households’ financial obligations are light, and set to get lighter with the Fed cutting rates. House prices have never been higher, and most homeowners have more equity in their homes than ever. Corporate profits are robust, and the stock market is hitting a record high on a seemingly daily basis. Of course there are blemishes, as lower-income households are struggling financially, there is a severe shortage of affordable homes, and the government is running large budget deficits. And things could change quickly. There are plenty of threats. But in my time as an economist, the economy has rarely looked better.”
- Mark Zandi, chief economist, Moody’s
https://x.com/markzandi/status/1840488882405614037?s=46&t=kf1qYlCXQnKgUhJWEIu2vg

This lines up with what I see. Restaurants are packed, airports are crowded, hotels full. Even after the housing price run, inflating net worths, people are still snatching up houses soon as they hit the market. Wages have jumped the last few years, so have 401k’s!

That is a one way to evaluate economy, but there is also a science and it does not agree with you.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:“I’ve hesitated to say this at the risk of sounding hyperbolic, but with last week’s big GDP revisions, there is no denying it: This is among the best performing economies in my 35+ years as an economist. Economic growth is rip-roaring, with real GDP up 3% over the past year. Unemployment is low at near 4%, consistent with full employment. Inflation is fast closing in on Fed’s 2% target - grocery prices, rents and gas prices are flat to down over the past more than a year. Households’ financial obligations are light, and set to get lighter with the Fed cutting rates. House prices have never been higher, and most homeowners have more equity in their homes than ever. Corporate profits are robust, and the stock market is hitting a record high on a seemingly daily basis. Of course there are blemishes, as lower-income households are struggling financially, there is a severe shortage of affordable homes, and the government is running large budget deficits. And things could change quickly. There are plenty of threats. But in my time as an economist, the economy has rarely looked better.”
- Mark Zandi, chief economist, Moody’s
https://x.com/markzandi/status/1840488882405614037?s=46&t=kf1qYlCXQnKgUhJWEIu2vg

This lines up with what I see. Restaurants are packed, airports are crowded, hotels full. Even after the housing price run, inflating net worths, people are still snatching up houses soon as they hit the market. Wages have jumped the last few years, so have 401k’s!

That is a one way to evaluate economy, but there is also a science and it does not agree with you.

Actually it does.

[Anonymous]

Anonymous wrote:

Anonymous wrote:“I’ve hesitated to say this at the risk of sounding hyperbolic, but with last week’s big GDP revisions, there is no denying it: This is among the best performing economies in my 35+ years as an economist. Economic growth is rip-roaring, with real GDP up 3% over the past year. Unemployment is low at near 4%, consistent with full employment. Inflation is fast closing in on Fed’s 2% target - grocery prices, rents and gas prices are flat to down over the past more than a year. Households’ financial obligations are light, and set to get lighter with the Fed cutting rates. House prices have never been higher, and most homeowners have more equity in their homes than ever. Corporate profits are robust, and the stock market is hitting a record high on a seemingly daily basis. Of course there are blemishes, as lower-income households are struggling financially, there is a severe shortage of affordable homes, and the government is running large budget deficits. And things could change quickly. There are plenty of threats. But in my time as an economist, the economy has rarely looked better.”
- Mark Zandi, chief economist, Moody’s
https://x.com/markzandi/status/1840488882405614037?s=46&t=kf1qYlCXQnKgUhJWEIu2vg

This lines up with what I see. Restaurants are packed, airports are crowded, hotels full. Even after the housing price run, inflating net worths, people are still snatching up houses soon as they hit the market. Wages have jumped the last few years, so have 401k’s!

Yup.

[Anonymous]

Or, the media has done a piss-poor job of telling the actual economic story of the last three years as the US climbed out of the dumpster fire left by Trump.

[Anonymous]

U.S. adds 254,000 jobs, unemployment back down to 4.1%, July and August revised upward.

[Anonymous]

^^^ Expectations were ~ 150,000

[Anonymous]

Anonymous wrote:U.S. adds 254,000 jobs, unemployment back down to 4.1%, July and August revised upward.

Awesome. Hopefully Harris campaign is cutting some new ads.

[Anonymous]

Anonymous wrote:U.S. adds 254,000 jobs, unemployment back down to 4.1%, July and August revised upward.

Harris and Biden win again! The wins just keep coming!

[Anonymous]

I thought the economy was supposed to be awful and only Trump could save it?

[Anonymous]

Anonymous wrote:I thought the economy was supposed to be awful and only Trump could save it?

Go Joe!!

U.S. East Coast and Gulf Coast ports began reopening yesterday after dockworkers and port operators reached a wage deal till February.

Interest rates are going down.

It's not perfect but it's not the doomsday Trump talks about all the time. Who is not doing well? It's the MAGA idiots!!!

SUCK IT TRUMP!!!!

[Anonymous]

The Biden economy is the BEST we've seen in a century. His wisdom and leadership is why the US is doing so much better than any other developed nation after the pandemic.

[Anonymous]

Anonymous wrote:I thought the economy was supposed to be awful and only Trump could save it?

This only further proves Trump supporters do not live in reality. They'll swear up and down we're in a recession, a depression even, because their orange cult leader told them so. Same thing with "migrant crime" when in reality illegal immigrants commit crimes at a rate 60% lower than natural born citizens. Same thing with the "open borders" when Biden has stopped more crossings than any year under Trump, and when he supported a bipartisan border bill that gave the GOP everything they wanted but it was shut down by - you guessed it - Trump. Same thing with regular crime which has been plummeting but Republicans swear we're living in a lawless hellhole.

Trump supporters, it's not too late to leave the cult. Literally all you have to do is look at the objective facts and believe them.

[Anonymous]

Oh no MAGA, more good news.