Biden’s grade on the economy rises to A-

[Synthaholic]

 

[Synthaholic]

 

[Synthaholic]

 

[Synthaholic]

 

[wamose]

What's below troll? Mole? This OP is that absurd. Disregard.

 

[Synthaholic]

It was a great week for the economy


New retail sales numbers, inflation, and a pause in rate hikes point to a strong week in the economy.

This data shows the economy may be on its way to balancing lowering inflation with maintaining growth.

Retail sales rose 0.3% from April to May as consumers spent more across the board.

This was a busy week for economic data, and it looks like the US may be on the right track.

Americans are feeling good about the state of the economy heading into the summer as gas prices fall and inflation slows in other categories. As a result, plenty of Americans are still shopping, which means businesses can continue to hire. That's reflected in low unemployment and strong job growth at a time when hourly wages finally caught up to inflation. This also reflects rises in manufacturing, especially in motor vehicles, as the nation continues building factories at a very fast rate.

All of this good news contributes to an economy that gave the Federal Reserve the confidence to skip its string of interest rate hikes this month.

Let's take a closer look at the more encouraging numbers that came out in just the last week.


Americans are still shopping

Inflation is slowing, while jobs and wages stay strong

Interest rates skip hike as economy continues growing

It all means Americans feel confident the economy is headed in the right direction

 

[Synthaholic]

Another Strong Jobs Report - The American Economy Remains Remarkably Strong, Resilient​

209,000 new jobs, unemployment at 3.6%, inflation at 1.2% annualized, wage growth strong​

Friday, July 7th - The July BLS jobs report is out and it’s another good one - 209,000 net new jobs, unemployment down to a near record low of 3.6%. Inflation ran at 1.2% annualized last month, and wage growth was strong. With this new data my monthly jobs tracker clocks in at:

• 33.8m jobs - 16 years of Clinton, Obama
• 13.2m jobs - 29 months of Biden
• 1.9m jobs - 16 years of Bush, Bush and Trump

Biden's 13.2m jobs is almost 7 times as many jobs as were created in the 16 years of the last 3 Republican Presidencies, combined. It is also millions more than were created in the entirety of any of their three individual Presidencies. Since 1989 and the end of the Cold War, the US has seen 49 million new jobs created. Remarkably 47 million of those 49 million jobs were created under Democratic Presidents, 96% - essentially all of them.

We’ve also put some of the data which follows into a Twitter thread for those of you who still share on Twitter, and here’s some new material from the White House on the success of the Biden economic agenda.

 

[Synthaholic]

Only the most dishonest, lying sack of shit Trumper would deny the incredible success of Bidenomics!!!

 

[Synthaholic]

 

[Synthaholic]

 

[Synthaholic]

 

[Synthaholic]

Lol!

 

[Synthaholic]

Greatest president EVAH!!!!!

Who’s responsible for cooling inflation? Credit Biden, if not Bidenomics.​

The United States has had a run of good economic numbers lately, showing cooling inflation and ultralow unemployment. Some forecasters have ratcheted down their recession odds.
Many on the left want credit for these conditions. Curiously, though, they seem to ascribe such cheerful results mostly to things the government didn’t do while ignoring the things it did.


That is, if indeed the U.S. economy ultimately achieves a coveted “soft landing,” it won’t be because we did a bunch of kooky, experimental, heterodox things that progressive populists agitated for (and generally failed to get). It will be because of boring, standard economic textbook fixes for inflation: i.e., supply shocks subsiding, fiscal support fading and, most controversially, interest rates rising.

The Federal Reserve’s 10 rate hikes since March 2022 seem to have dampened consumer demand and brought it more in line with constrained supply — just as traditional economic theory would predict. So far, largely because of immigrants and working women, the economy has resiliently absorbed those hikes.

The president has been terrific at staying out of the Fed’s way, something presidents don’t always do. When the central bank raised rates last time around, President Donald Trump went berserk. He declared the Fed chair whom he himself had appointed, Jerome H. Powell, an “enemy.” Trump also repeatedly threatened to fire Powell, a legally dubious action that would have roiled markets.

It also would have compromised the Fed’s long-term ability to fight inflation. That’s because a central bank’s independence, both real and perceived, is critical to the institution’s ability to achieve price stability. The public must believe the Fed is willing to “take away the punch bowl” — that is, raise interest rates when the economy overheats — to get inflation under control. That way, expectations of further high price growth don’t take root and become self-fulfilling.

 

[Synthaholic]

 

[HikerGuy83]

Yeah, but no!

What is never factored into this conversation is the newly created jobs or people going back to work or the increase of exports and imports is that from 2020 to mid 2021 a good amount of the nation was in lockdown because of Covid and millions of Americans were getting a Government check and once the lockdown ended or was somewhat lifted people went back to work which mean the numbers look so beautiful but were not factual!

So let cut the bullshit about how great Biden is because like what has been pointed out is the fact we have supply chain issues, high inflation and gas prices are ridiculous but alas you will not admit it and will proclaim everything is great and wonderful until the GOP take the House and Senate this November!

If the economy is so great, why is he so unpopular.

I think we have a case of cognitive dissonance here.

 

[HikerGuy83]

Greatest president EVAH!!!!!

Good luck with that.

 

[otto105]

Unicorn farts are equally as believable.

Does Morgan Stanley report on them.

 

[themirrorthief]

things are so great tourist are leaving their coke behind

 

[Harpy Eagle]

If the economy is so great, why is he so unpopular.

A lot of people asked that same question during the previous admin.

Could it be that people have figured out how little power the POTUS has over the economy?

 

[HikerGuy83]

A lot of people asked that same question during the previous admin.

Could it be that people have figured out how little power the POTUS has over the economy?

Might be.