US economy grows at fastest rate in nearly two years

So, we are again just going to pretend like a global economic pandemic didn't affect these stats?

Economic growth is great, I don't think anybody disputes that. However, we can't be selective about the indicators that arrive at that conclusion and ignore the rest.

Inflation is up, purchasing power is down, interest rates are up, labor force participation is down....

 

No, it was before pandemic. With pandemic Trump's economic numbers are worst in a lifetime. GDP average growth = 1.5%, unemployment increased by 30% etc, but this thread is not about him

Inflation is down significantly from last year, as is purchasing power. LFPR is also improving.

 

You bar chart represents much of the entry level jobs wage increases as I noted in my statements. It is a false representation of the entirety. The middle class wages, from the lower end to the higher end, are not keeping up with these increases.

And I don't recall noting how I vote and how that matters to my statement about the failure of both parties to shore up Social Security to support the citizens of this country who have contributed to it over their lifetime. Nice of you to politicize the fact that neither party has done anything to help. The Dems had a filibuster proof majority of congress for the first two years of Obama's first term. Tell me again what they did to protect Social Security. And is Social Security a social program when it is mandatory for all employees to contribute to it?

 

Still selectively cherry picking stats.

GDP for Trump before Covid was slow growth because the economy was maxed out. Every other datum shows the same. Everybody that wanted to work was working, and still millions of jobs went unfilled. How exactly do you increase GDP when there is nobody left to produce more?

Seems silly that you would point to one datum point, out of context and draw a conclusion.

Inflation is down, but still elevated and you ignored interest rates and continued action by the administration to hurt the middle class.

 

Yes, core PCE numbers exclude food and energy, however overall PCE numbers do not exclude food and energy. The core numbers over the past year are actually higher than the overall PCE, not lower. Over the past year core PCE is 3.7% where as overall PCE is only 3.4%

https://www.barrons.com/articles/pce-data-inflation-report-today-8bdb757d

Whether you are going by core PCE or overall PCE, the US has one of the lowest inflation rates of all the major economies. In addition to this, the US has been experiencing one of the highest overall real GDP recoveries of all the major economies.

 

Compared to whom? All the major economies? Which one of those is more conservative than us and which had as much of a conservative response to Covid (comparatively) as us?

 

Lmao, the economy is the worst its been in literal decades and dems over here cheering. People are suffering more now than they have in their entire lives and dems pushing such propaganda lol.

 

False, Trumps economy was far better than Obamas and Brandons until the pandemic hit and we had to shut down per the insane instructions of the CDC.

 

The size of a nation's economy are generally measure by their overall GDP numbers. In terms of real GDP recovery and overall inflation, the US has shown to have had arguably the strongest post-COVID recovery in the world. Our real GDP recovery is among the highest, and our inflation is among the lowest. The only major economies with lower inflation than us have been struggling at recovering their GDP.

In terms of what is and is not a "conservative" economy, the answer to that question is relative to what the policies of the conservative parties in that country are. For example, lower tariffs have been a long term conservative position in the US, but in more recent years advocacy for higher tariffs have become the more common position for conservatives in the US. I should also note that leaders like Angela Merkel are considered conservative in their native country, but would not be considered as such in the US.

As for what countries around the world have a more conservative economy, relative to what would be considered conservatives in the US? The answer would essentially be limited to third world countries. None of the most successful economies from around the world would be considered more conservative.

 

So, you're saying that both inflation and interest rates will be going up. You're right.

 

US economy grows at fastest rate in nearly two years.

Obviously this is a good thing. It results from the release of spending by people who didn't spend so much during covid. If we could just explain to the government that they need to stop trying to fix the economy. Raising interest rates to stifle demand isn't necessary because the demand is easy to explain, temporary and will correct itself. In the meantime government is hurting the economy that this pent up demand has created. Has it helped? Not even a little. Has it hurt? Of course. Have you shopped for house lately?

 

Sorry, but I go with hard numbers, not by personal opinions.

 

Clearly, you do not.