Q4 2022: Bidenomics shows NO SIGNS of slowing down

Is that why Microsoft and Google are laying off over 10,000 employees… each?

I’d honestly credit this to the huge leaps in AI over the last year or so.

As a not a big fan of Biden, I’ve gotta give it to the administration, they’ve been really picking up the ball they seemingly dropped early on.

Corps that were overvalued and overhired (added +25% employees in 2 years!) are now scaling back to previous growth levels. Companies like Apple that didn’t over hire are not laying off.
The jobs numbers seem to confirm tech is an anomaly…

Far right types will ignore all data and INSIST the economy sucks.

Under Trump we had 2% inflation. Now it’s 6%
FJB

Monthly CPI has been <0.4% and 0% or negative 3 times since JULY. Inflation is done. Bidenomics ended it AND kept markets, GDP, wages, and job numbers high… just a remarkable success story.

Now compare inflation to wage increases, numbn*ts.

Under Trump we also had 14.7% unemployment. Now it's 3.5%.

Real wages are STILL higher than any other time in American history.
You morons don’t ever look at data.

SPR sales are done. The lipstick that was masking inflation and excessive spending are gone. Biden drew down the SPR by 35% in the year (that the Chinese used to boost their oil reserves in order to wage a war in Taiwan) leading into the midterms to prop up the economy for votes. It generated billions in revenue, which we used to pay for some of the arms we sent to Ukraine. Oil and gas exports benefitted from higher oil prices, which is where most of the economic growth came from. On the other end of the spectrum, commercial real estate and construction are dead, residential real estate and construction are dead. Capital investments are down. Factory orders are way down. The few industries that are profiting off of the Ukraine war (energy and arms sales) are overshadowing losses in other industries for the time being. With inflation kicking back into gear, the faux growth of the past two quarters from the Democrats vote purchasing schemes will evaporate in the coming quarters.

You’ve been predicting economic disaster for 12 months+ - not holding my breath.
Put your money where your mouth it. Predict when we will see the next 1.0%+ monthly CPI growth and when we will see the next negative GDP quarter.
I’ll keep track.

No they're not.

bls.gov

Real Earnings Summary - 2022 M12 Results

Link:www.bls.gov/news.release/realer.nr0.ht...

Correct they peaked in 2021. But are still higher than ANY point prior to 2020. The myth that things were better in the 50,60,70,80s etc. is very wrong.

Fact check determines this statement to be FALSE:

fred.stlouisfed.org

Employed full time: Median usual weekly real earnings: Wage and salary workers: 16 years and over

Employed full time: Median usual weekly real earnings: Wage and salary workers: 16 years and over

Link:fred.stlouisfed.org/series/LEU02528816...

Notice the sharp downward trajectory in 2021 and 2022.

See my prior reply. Hard to compete with the free TrumpCash (R) that started the whole inflation mess.
As a whole, the economic situation for workers is better than it’s been for 99% of US history.
But we known the apocalypse is coming. JoeDirt just has to tell us when.

Weighing anecdotes over cumulative stats, just like your approach in the COVID thread.

A big part of this was also during the pandemic corporations were borrowing for next to nothing. The fed did a lot to help keep business afloat and lots of big orgs took advantage of this going on spending/hiring spree. Now that that is over they are having to slash anything that isn't turning a profit.

I’ll give both the Biden and Trump admins credit.
To go through COVID and the massive GDP drop only to emerge 3 years later at the same pace, as if COVID never happened is remarkable. They nailed this one. America is grateful.

And don't be fooled by agip posting under another handle. If you want to understand agip's financial knowledge, just look at his laments on the Down goes the Dow thread. Can't understand why his investments are failing when the economy is so "great". The average American household has lost more than $50k in net worth since Q1 2022 when adjusted for inflation. The recession has been going on for a while. Biden masked it for a short period of time by selling off assets that others had saved to win the midterms, but those days are over.