What would a great economy look like?

How about an economy with 3.6% employment and consistently under 4% for the longest stretch in over 50 years? With wages at an all time high and increasing faster than inflation. Stock markets reaching a record high. GDP way up and very far from the recession levels announced a year before.

Wouldn't that be great? That would create the biggest Consumer sentiment jump in 30+ years, right?

https://www.wsj.com/economy/consume...lly-feeling-better-about-the-economy-e964804f

Trump is not going to be happy when he reads this somebody reads this to him!

 

I have always asked maga what period they want to return to — what economic stats they want — what they want accomplished.

It typically always eventually breaks down to some version of “I hate democrats”.

The debt was an issue until trump blew it up, then it wasn’t. Morality in the White House was an issue, then trump happened and none of them really care anymore. They use to cheer 4% gdp growth and gas below 3bucks — now neither one of those are even on their radar. They use to scream about unelected partisans in black robes writing law and now they cheer it.

About the only item they have been consist with is how much they hate illegals.

It’s almost like deep down, conservative ideology doesn’t really stand for anything.

 

I have concluded that the period they want to return to is the Jim Crowe era. Not necessarily because of the economy.

The problem for Republicans is that they rely on Biden's approval numbers being somewhere in Trump territory. But Biden's low numbers are due to the economy. However, the economy has actually been for several months now. The problem was people weren't noticing. The huge jump in Consumer sentiment indicates that people are starting to notice. So Republicans will have to either find a way to undermine the economy without people blaming them. Or look for a different slogan. The whole Russian propaganda apparatus is at their disposal. So they'll come up with something. But what they have tried (Hunter, immigration, Ukraine, ...etc) so far hasn't worked.

 

The unemployment rate is low because a large number of people are not employed or looking for work. A higher percent of the population was employed under Trump just prior to the pandemic.

The stock market broke the records because of inflation.

Please explain how either of these is a good thing.

 

First two years of Trump's presidency.

 

Unemployment rate is low because a large number are not employed????

Uhmmm....ok....

 

Nor looking for work.

In brief, the unemployment rate equals all those sixteen or over, not in an institution who are looking for work divided by those who are working. If they do not look for work, like what is happening now, the result is a low unemployment rate.

 

All the government can do is stimulate job creation. It can't force people to look for work.

 

Then don't make claims about how great Biden's economy is.

In Feb 2020, the unemployment rate was lower than now and the labor participation rate was higher than now. Both of those are more favorable for Trump than for Biden.

 

January and February of 2020 are the only two months during the entire Trump administration where the unemployment rate was lower than the current rate. The labor participation rate in February 2020 is .5% better than it is now. February of 2020 is the peak month of the economy for the Trump years. The labor participation rate from March 2020 to January 2020 is lower than the current labor participation rate.
Using the standards you set above indicate that the current economy is Strong.

 

You are speaking of the U4 rate


The difference is trump largely followed trend lines set from the prior administration while using tactics such as quantitative easing and negative interest rates.

Biden has gotten it to steady back around .2% difference from trumps (prior pandemic — I always laugh that you people want to ignore Covid for trump but apply it to Biden) while having 6-8% interest rates.

That’s impressive, even if you don’t want to acknowledge it.

 

They don’t have much to attack Biden with so they have to make up most of it and hope the people not really paying attention just take them for their word.

 

You just described how Trump's economy was improving and was better than now.

Except for the inflation part which makes it poor. Which is probably why the vast majority of the population believe the economy is bad.

According to Golem, the president has no control over it.

You guys are hilarious. You brag about how great the economy is and then when I point out it was better under Trump prior to the pandemic, then you say the president had no control over it.

 

I speak for myself, if you want to speak to me — address me directly or be dismissed when you try and act like others speak for me.

I have never said the economy isn’t influenced at all by the president or congress or even USSC rulings.

What’s ironic though is that you completely cut out all of my post that expressed this — likely because you couldn’t debate it while doing the typical maga tactics.

Pathetically transparent

 

I can debate anything worth while. There is nothing in your post I have not seen a dozen times. In order to make it clear what I am discussing, I nearly always only quote the parts I have an interest in.

You said "likely because you couldn’t debate it while doing the typical maga tactics." which is exactly what you are accusing me of when you said "address me directly or be dismissed when you try and act like others speak for me."

 

You spoke for yourself

Dismissed

 

Does that mean you have some kind of authority? I don't think so.

I will respond when I want to respond. You can respond or not respond. It makes no difference to me.

 

Which is why that has never been the metric for any other administration. The goal posts have been moved so many times at this point that they have just removed them.

 

No, I described how Trumps economy only had 2 months out of 48 months that were only slightly better than now. Unemployment has gone down steadily since January 2021 and is continuing to do so. Labor participation has stayed fairly static in the last 10 years. If they are very similar to the best your statistics for the absolute best month's the Trump economy had. I can't see how they are not as "ideal" as the Trump economy at its best.

 

Trump highest employment was 158.6 million prior to Covid

U.S seasonally adjusted monthly number of employees 2021-2023.
In December 2023, about 161.18 million people were employed in the United States.

 

Trump's economy was in the process of improving from an already good economy. That improvement was clearly halted by the pandemic.

Biden's economy is recovering from the pandemic, there is no way to go but up.

 

The fact that Obama created a great economy (which Trump threw down the drain)
doesn't mean that Biden can't do the same thing Obama did. So he HAS...

 

and has already caught up with Trumps best months.

 

Every indication was that Trump's economy was improving up until Covid. If you have some statistics to the contrary, show them.

 

Some wages may be growing faster than inflation is RIGHT NOW, but inflation has had a three year head start and is currently 16% higher than when Biden entered office.