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US economy going strong under Biden – Americans don’t believe it
(www.theguardian.com)
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this post was submitted on 15 Sep 2023
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politics
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Well, the media has worked very very hard to paint Biden in the worst possible light and not give him credit for anything other than putting on his pants each morning, so its no wonder people feel that way.
The fact is that our economy is booming. We will need to adjust out GDP upward before the end of the year if the strikes don't hurt. Virtually every country in the rest of the world has huge economic problems compared to the US.
On the other hand, when wage growth continually fails to even come close to inflation, the rah rah economy gaslighting falls a bit flat.
The US inflation rate is 3.7 Britain 6.8 Germany 6.1 France 4.9
Home prices and rent are crazy high, though. Plus student loans are coming back, no wonder everyone feels poor, unless you already managed to buy a home with low interest rates. So things are great for those people, I'm sure.
Of course that isn't inflation. That is individual sector increases, which is something that a President can do little about.
In other words, we're screwed and everyone else is double-screwed.
3.7 isn't too bad. Not great, below 3 would be good. But, as long as the rest of the world suffers we will too. Our main trade partners, Canada and Mexico, are doing all right so the chances are we won't slip into a recession. This is especially true because the US GDP is so good. This is a problem that COVID left the world.
I keep using that word. I do not think it means what you think it means.
They're using it correctly. When someone tells you the economy is great but you and everyone you know are worse off, that's gaslighting.
"Don't believe your own experience, just take my word for it."
Economic measurements were in the tank in 2010 for everyone except wall street. That was when the term "main street" actually got recognized in the media. There were plenty of articles about it.
Yikes
Do you think unemployment is near a 50 year low?
Do you think GDP is growing?
These are real, quantitative measurements that people are WRONG about. It's not just some dude's word. It's the TRUTH, and you're REJECTING it. It's sad.
Sounds like you're trying to gaslight him bro lmao
Stop gaslighting me dude
Tell that to my back account, the GDP can do whatever the fuck it wants.
https://www.bls.gov/charts/employment-situation/civilian-labor-force-participation-rate.htm
More like 7 years. The workforce participation rate is the only number that matters. I don't care about your games of "well if we don't count everyone unemployed no one is unemployed".
Is that line going up or down lol
The unemployment rate is not the best measure, you're right. But the point is that it's improving substantially, whichever metric you pick.
Lol.
The line is trending around crap. Go ahead and zoom out to what happened in 2008. You told a lie before and I called you out on it with data. Accept it or lol some more but you aren't convincing anyone what they can see with their own eyes. Lol
I don't think this means what you think it means either. You're just going waaaaaaaah economy bad I can't hear your data waaaaaaah
Data shows the economy is improving under Biden. Deal with it.
Workforce participation rate
Is improving
No it's hovering around crap. Call me when we hit 2007 levels.
Then you'd be complaining it's not higher than that.
Oh look we got a mind reader over here. Why don't you defend your point instead of engaging with hypotheticals about what people who disagree with you would say? You know attack the argument not the person.
The real unemployment rate is horrible. How I may or may not react to a good rate does not mean the rate isn't horrible.
It's been improving. Do you deny that?
Yes. Without a reference that means nothing. Improving with respect to what date?
Trump era.
I think they used it correctly. This whole thing feels like 2010 all over again. We all know things are on fire and the government/media keeps saying how great it all is.
It wasn't the media that convinced me that my rent went up last year, or that housing prices are going up, or that gas prices are higher, or when I purchase literally anything it is high than before, or that my employer can't sell anything but the most expensive stuff abroad, or that my health insurance premiums are up, or my stream services bill went up, or that my big raise last year has vanished, or that I couldnt find a job if I lost mine in a resonable amount of time....
I don't give a shit that some asshole who inherited 10 houses is sitting pretty, or that the stock market hits higher and higher due to buybacks/consolidations/inflation. I care about the stuff I deal with daily. In the real freaken world I am in big trouble if I lose my job and my money buys less and less.
Show me a single thing Biden has done that brings a real world bill down.
https://www.americanprogress.org/article/what-you-need-to-know-about-inflation-and-the-inflation-reduction-act/
https://www.americanprogress.org/article/what-you-need-to-know-about-inflation-and-the-inflation-reduction-act/
Conservative media doesn't even give him credit for that much. Or haven't you heard the rumors Biden has advanced dementia and his team of handlers have to dress him before leading him to public appearances?
I mean, given how the White House handled Reagan's Alzheimer's symptoms in the last years of his presidency, it wouldn't be outside the bounds of possibility. But still...
Pulling your own pants on when you have dementia is no easy feat. He deserves to be celebrated for it.
Feat