Many predicted a Biden recession - instead we got a solid and growing economy

[Dutch Uncle]

As with the Carter economy back in the 70's, Biden's economy sucked for everybody but the upper middle class and rich. The CPI shot up like a rocket making everything nearly unaffordable to the lower end of society. For the upper end, they could invest in various assets that grew with or outgrew inflation.

With high inflation (5%+) a false result that was claimed was the economy was growing rapidly when it actually wasn't. Biden's economy, great for the rich, fuck you for the poor.

^^^
Proof of Terry's "different" views of reality. Sad.

What caused inflation to spike after 2020? : Monthly Labor Review : U.S. Bureau of Labor Statistics

www.bls.gov

The United States was experiencing a period of low inflation before 2020. Then, in early 2020, the coronavirus disease 2019 (COVID-19) created various market problems, causing prices for goods and services to rise...

... So, from this research, the authors find that three main components explain the rise in inflation since 2020: volatility of energy prices, backlogs of work orders for goods and service caused by supply chain issues due to COVID-19, and price changes in the auto-related industries.

 

[Damocles]

And we saw increased prices on everything that we touch.

We are all so much poorer after the massive inflation during Biden's tenure. It is absolutely inane that they try to promote that as a "good" economy. Prices for things folks buy doubled while their wages stayed the same. I cannot say it is doing much better under Trump as wages still remain lower than they should be after 14% inflation rates.

 

[Dutch Uncle]

We are all so much poorer after the massive inflation during Biden's tenure. It is absolutely inane that they try to promote that as a "good" economy. Prices for things folks buy doubled while their wages stayed the same. I cannot say it is doing much better under Trump as wages still remain lower than they should be after 14% inflation rates.

What caused that inflation, Damo?

 

[Damocles]

What caused that inflation, Damo?

Sending out money, Dunkle. "Stimulus Checks"... the straw that broke the camel's back... 1.9 Trillion "American Rescue Plan"... All of that was inflation...

 

[Dutch Uncle]

Sending out money, Dunkle. "Stimulus Checks"... the straw that broke the camel's back... 1.9 Trillion "American Rescue Plan"... All of that was inflation...

Damocletus, sorry to upset you. Maybe your GF, Legina the Snitch Bitch can massage the tension out of you.

 

[Damocles]

Damocletus, sorry to upset you. Maybe your GF, Legina the Snitch Bitch can massage the tension out of you.

Dunkle to English Translation: I think I annoyed someone so I need to pat my own back.

Nobody was annoyed, I answered your question, Dunkle.

 

[Dutch Uncle]

Dunkle to English Translation: I think I annoyed someone so I need to pat my own back.

Nobody was annoyed, I answered your question, Dunkle.

You're free to impress your buddies, especially your girlfriend the Snitch Bitch with name-calling and snark, Damo. I get it.

 

[Tbird19482]

It wasn't just him. Fauci himself said it wasn't anything to be worried about...until it was.

And it was Fauci that told Trump it was going to be bad.

 

[RB 60]

And it was Fauci that told Trump it was going to be bad.

After he told him it was nothing to worry about. By then, it was already here.

 

[Tbird19482]

Here read some of Trump's lies and misinfo.

10 of Trump’s big falsehoods about COVID-19

President Donald Trump has faced many adversaries, but none as unbending and deaf to his words as the coronavirus. Early

www.politifact.com

https://smacc-lab.media.uconn.edu/wp-content/uploads/sites/3062/2020/12/COVID-19-and-Fake-News-SMACC-Team.pdf

Trump's lies and disinformation about the Covid 19 - Bing

Intelligent search from Bing makes it easier to quickly find what you’re looking for and rewards you.

www.bing.com

 

[Tbird19482]

Again maybe IF Trump hadn't told all these lies and gave out bad info it wouldn't have been so bad.

 

[Tbird19482]

After he told him it was nothing to worry about. By then, it was already here.

You think Trump gave out such good info why didn't you drink a gallon or so of bleach?
You would have done the world a favor if you had.

 

[ThatOwlWoman]

I'm just so pissed about trump trashing Biden's perfect economy that was handed to him!

How's your 401(k) doing? Sure has been bouncing around a lot this year so far, but even so as of this morning we're up 1.48%/$41K for the year to date. No doubt the #FatFascistFelon will find a new way to fuck it up though. Wait for it.

 

[ThatOwlWoman]

Biden's economic recovery after Covid was the envy of the world - in just a few months trump threw it in the garbage!

^ Truth. Although inflation was slow to come down, our rate was still well below that of most of the rest of the planet.

 

[Dutch Uncle]

And it was Fauci that told Trump it was going to be bad.

Trump admitted he know it would be bad in December 2019 then lied to the American public for 5 months.

 

[LurchAddams]

How's your 401(k) doing? Sure has been bouncing around a lot this year so far, but even so as of this morning we're up 1.48%/$41K for the year to date. No doubt the #FatFascistFelon will find a new way to fuck it up though. Wait for it.

OMG - it's been like a roller-coaster!

trump threatens tariffs or war - stocks go down

trump "TACO's" - stocks go back up!

I'll be so glad when trump's gone! So will investors!

 

[Dutch Uncle]

^ Truth. Although inflation was slow to come down, our rate was still well below that of most of the rest of the planet.

Agreed, but MAGAts think the US lives in a vacuum and are incapable of seeing the larger picture of the world. Mainly because this is true:

Global Rankings | COVID Economic Recovery Index

Discover how countries perform in terms of economic recovery from COVID-19. Finland and Norway emerge as leaders, followed by Switzerland and Germany.

www.covidrecoveryindex.org

 

[LurchAddams]

^ Truth. Although inflation was slow to come down, our rate was still well below that of most of the rest of the planet.

As of early 2024, the Biden administration touted the U.S. post-pandemic economic recovery as the "envy of the world," highlighting record job growth of 15 million in three years, low unemployment rates, and strong GDP growth compared to other G7 nations. Proponents argued that middle-out policies fueled this, though public perception remained mixed.
The American Presidency Project +3
Key elements of the Biden-era economic narrative included:

• Rapid Growth: The U.S. economy grew at double the rate of other G7 nations in early 2024.
• Job Market Strength: Over 15-16 million jobs were created during this period, with unemployment sitting at 50-year lows.
• Global Impact: The World Bank and other assessments suggested the robust U.S. recovery helped stabilize the global economy.
• Strategic Investments: Implementation of the Bipartisan Infrastructure Law and CHIPS and Science Act aimed to strengthen long-term manufacturing and technology sectors.
• Challenges: Despite these indicators, many Americans expressed dissatisfaction with the economy due to lingering inflation, according to reports in Al Jazeera.
  The American Presidency Project +6

By the end of 2024, this economic performance was cited as a key part of the Biden administration's legacy, intended as a benchmark for future economic policy, notes PBS.
PBS +2

 

[Tbird19482]

As of early 2024, the Biden administration touted the U.S. post-pandemic economic recovery as the "envy of the world," highlighting record job growth of 15 million in three years, low unemployment rates, and strong GDP growth compared to other G7 nations. Proponents argued that middle-out policies fueled this, though public perception remained mixed.
View attachment 75173The American Presidency Project +3
Key elements of the Biden-era economic narrative included:

• Rapid Growth: The U.S. economy grew at double the rate of other G7 nations in early 2024.
• Job Market Strength: Over 15-16 million jobs were created during this period, with unemployment sitting at 50-year lows.
• Global Impact: The World Bank and other assessments suggested the robust U.S. recovery helped stabilize the global economy.
• Strategic Investments: Implementation of the Bipartisan Infrastructure Law and CHIPS and Science Act aimed to strengthen long-term manufacturing and technology sectors.
• Challenges: Despite these indicators, many Americans expressed dissatisfaction with the economy due to lingering inflation, according to reports in Al Jazeera.
  View attachment 75174The American Presidency Project +6

By the end of 2024, this economic performance was cited as a key part of the Biden administration's legacy, intended as a benchmark for future economic policy, notes PBS.
View attachment 75175PBS +2

And Trump IS one of ONLY TWO Presidents to leave office with LESS people working then when he took office.

 

[Lionfish]

We are all so much poorer after the massive inflation during Biden's tenure. It is absolutely inane that they try to promote that as a "good" economy. Prices for things folks buy doubled while their wages stayed the same. I cannot say it is doing much better under Trump as wages still remain lower than they should be after 14% inflation rates.

Trump's bloviating drives me nuts, but I have a lot of faith in Scott Bessent, who says we are on the path to correct the damage done by the brandon administration. IF they can eliminate a major part of the fraud that DOGE discovered, the journey to some form of stability will be even quicker.