Summary
President Joe Biden highlighted his administration’s economic record, citing consistent job growth and a 2.7% inflation rate drop from its 2022 peak.
December’s jobs report showed 256,000 new jobs and declining unemployment, signaling steady economic growth.
However, inflation remains above the Federal Reserve’s 2% target, and interest rates remain high, impacting homebuyers and businesses.
Public pessimism lingers on affordability as Biden passes a largely strong economy to his successor, Donald Trump.
When the media or politicians report on ‘the economy’ they mean wealthy people’s money in investment capital and financial instrument earnings, not wages or savings for the working class.
What good is that when we couldn’t sentence the clown coming into office that is going to dismantle whatever gains we might make.
Yeah, great, I’m so impressed. I’ll quit one of my jobs. Thanks biden.
“Empty suit makes grandiose empty statement.”
I suppose I’m happy for the economy. I mean, I’m glad it’s doing better than ever, I guess, but I’ve got my own issues. Sorry if that sounds selfish, but it’s just hard for me to get too excited for the economy when I’m stressed about my own situation.
They made a typo they meant the stock market not the economy.
No no no, they added jobs*
*Uber drivers
Illegal taxi service! Why didn’t I thnk of that!
That’s because the economy is wholly disconnected from the real lives of working Americans. Aside from 401k, job gains could just be shifting around of people from job to job. If you are in the job market, it still feels grim. The cost of groceries, energy, housing, healthcare, schooling still remain high. And that’s what Americans really experience. A reduction in inflation doesn’t mean prices went down, it just means the increases slowed down by 2.7%. And the fact that democrats are completely incapable or unwilling to have this conversation, is why democrats continue to lose enthusiasm every time there’s an incumbent democrat election. Obama was an exception because of how skilled a politician he was and how weak the Republican opposition was at the time.
“What has the economy done for me lately?”
Hard to think of much lately other than give me false hope about my retirement options.
According to traditional economic indicators, that’s a true statement. There is an issue with traditional economic indicators however.
He’s living in a separate economy 🙄 it’s no wonder the Dems lost.
Thanks, Joe. More for Trump to loot. Too bad so little of that growth got to median-level people.
Fuck the economy when garland let trump go. That’s biden’s fault. I will always remember Biden for that.
‘Than Ever’
dude was a senator starting at 1972.
he’s been an active participant in this
Sure, a massive disaster caused by trump et all fucking things up was recovered from. But that’s not really Biden’s doing, except in the most ephemeral of senses
That link you provided is excellent.
In this theead: A whole lot of people who don’t understand that deflation is awful.
That’s fine, we’ve got other options. Let’s just see how big the disconnect needs to get before we start taking them.
Deflation is fine. Plenty of countries have been through deflation and they haven’t exploded. Japan is probably the best example.
You mean that period of Japan that they call “the lost decades”. No one would ever want their economy to go through that.
You mean the decades their life expectancy actually grew? Japan showed that it can be managed. That it’s not this wild beast wall street would have you believe it is.
Really? Japanese life expectancy is the stat you’re going to pull up to justify this. Go take a look at the Japense life expectancy from 1950 to today and try and find the decade where their economy crashed. You cant because its a consistent increase not at all tied to their economic successes/failures.
Its not wall street saying this is bad its the bank of Japan.
The Japanese version of Wall Street disliking deflation is not the great point you think it is. And yeah if it was so bad you would see a drop in statistics like life expectancy. The fact that people were able to largely keep going with their lives means it’s not the apocalypse.
Im sorry to be rude but you have no idea what you are talking about you dont even know what the bank of Japan is. The bank of Japan is the Japanese central bank that monitors and controls Japans monetary policy. Its nothing like wall street which is an american stock exchange.
Also Life expectancy has so many contributing factors you cannot point to it and say “it didnt go down therefore this change was good”.
Oh I’m sorry, the financial elite. Happy?
And yeah there are a lot of factors. But one pretty universal one is a functioning economy.
Any steady hand would have accomplished this.
The gloating, however, reminds me of my labor union’s incessant self-promotion of how their contract negotiating skills got us a 1.5% increase in a year where the prime rate stood at about 8%.
He isn’t gloating. He’s highlighting this issue to undermine common right-wing talking points. He’s trying to get this fact into Americans head so Trump can’t use it as an excuse to win another election(if he even holds another one)
Stockmarket does not determine inflation, cost of living does and we can barely afford food. Joe didn’t do shit, he maintained statues quo for the elite class. Eat the rich
Tell him he did it… He finally “beat medicare” and can go rest.
