Lol… Solyndra and Tesla were both propped up by the federal government. Increased interest rates are doing what they are meant to do.
I assume you agree with everything else then. Didn’t claim Biden had less immigration but kept restrictive policies in place that kept labor market tight. Red states are loosening child labor laws in order to get the workers they need….
Seems like the full quote isn’t “booming economy”. Doesn’t mean that interest rates haven’t cooled things down either. But I’ve also argued that the industrial policy will create some tailwinds.
OT, just some background info on Stephen Moore. He was on the 2016 Trump campaign; when Trump became POTUS, he chose not to re-nominate Janet Yellen as Fed Chair, cos he thought she was too short. Trump then nominated Stephen Moore as the Fed Chair. then people started to research on Moore's qualifications. it was quite easy for these conservatives / liberals to expose Stephen Moore's long record of economic illiteracy: trump quickly pulled the plug on Moore's nomination, and settled on Jerome Powell here are some "lowlights" of Stephen Moore's economic illiteracy 1. Moore can't tell whether prices are going up or down. This is an important thing to know if you're on the Fed, half of whose dual mandate is stable prices. Moore has repeatedly, and falsely, claimed that the country is experiencing "deflation." That means prices are falling, which they are not. But claiming this gives him cover to argue that the Fed should pump more stimulus into the economy just as Trump begins running for re-election. Conversely, when we were in the depths of the financial crisis and prices were falling, Moore claimed we were on the brink of Weimar-style hyperinflation. He therefore called on the Fed to tighten monetary policy, which would have crippled the economy -- and just coincidentally maimed President Obama. 2. Relatedly, Moore claims official government economic statistics are phony when they don't suit his preferred political narrative. 3. Moore advocates -- at least when politically convenient -- crank economic ideas, including returning to the gold standard . This idea is roundly rejected by actual economists and would result in much more price volatility. When called on such nonsense, Moore has claimed he never said such things, even after being presented with video evidence. 4. He cheered the failure of Lehman Brothers, an event that (foreseeably) set off a worldwide financial panic and nearly plunged the entire global economy into another Great Depression. This doesn't inspire confidence in Moore's instincts next time the Fed has to handle a financial crisis. 5. Moore lies, and lies, and lies. About his own record, and about easily Google-able facts. Now I realize the word "lie" implies knowing intent to mislead, as opposed to possibly ingenuous misstatement of fact. But note that, even after being corrected on his various falsehoods -- including about the Volcker Rule, Canadian tariff rates, whether tax cuts have paid for themselves -- he has often repeated the exact same falsehood. So either he's deliberately misinforming the public, or he's like the goldfish who forgets everything immediately after swimming a lap around the bowl. yet another intellectual dishonesty by Stephen Moore; remember that Obama had also funded Solyndra and Tesla As for Vivek Ramaswamy, anyone who is stupid enough to side with the proven economic illiterate Stephen Moore is not fit for office
that's all terrific info . . . but are government jobs the "fastest growing job market" or are government jobs NOT "the fastest growing job market"? I guess that's the terrific info I would really appreciate
2022 https://www.epi.org/blog/historic-j... 2021 and December,only 1.6% over that period. Over the past year, specifically, state and local government employment has grown modestly but still lags private-sector job growth. Between December 2021 and December 2022, total nonfarm employment grew by 3.0%, driven mainly by employment gains in the leisure and hospitality (6.3%) and education and health (4.0%) industries. However, state and local government employment grew by only 1.6% over that period.
you do understand that the US economy is just recovering from a pandemic, and the effects of Trump's ill-conceived / ineffective trade war, no? and it's only the beginning of Bidenomics. the GDP is growing the inflation is trending in the right direction, but it is still high employment is at all time high and that is a good thing, when an economy is fighting a 2-headed economic monster recessionary effects from a pandemic / economic shutdown inflationary effects emanating from the ill-conceived / ineffective Trump-induced trade war
@Os Trigonum https://www.bls.gov/news.release/empsit.nr0.htm Last unemployment report Total nonfarm payroll employment increased by 209,000 in June, as employment in government, health care, social assistance, and construction continued to trend up. Nonfarm employment has grown by an average of 278,000 per month over the first 6 months of 2023, lower than the average of 399,000 per month in 2022. (See table B-1.) Employment in government increased by 60,000 in June. Employment continued to trend up in state government (+27,000) and local government (+32,000). Overall, government has added an average of 63,000 jobs per month thus far in 2023, more than twice the average of 23,000 per month in 2022. However, government employment is below its pre-pandemic February 2020 level by 161,000, or 0.7 percent. The government does a great job imo on tracking employment, obviously paying taxes contributes to that. I was watching the history Channel once and they were going through some records in ancient Rome and said Roman records were great because of taxes Edit: user error
Your own article makes the point that the only hiring that's been stable the past year is government subsidies. You're literally making a point that we'd be in a recession right now if not for government spending. Thus isn't the own that you think. It just shows that biden literally saved the economy. Obviously CAPEX investment is low and other forms of hiring may be slow when we have 5% interest rates and hard
This is with federal rates being at 5.5%......imagine this economy with 3% rates Folks aren't ready for the booming economy that's around the corner.
Inflation literally started going up the day Biden took office (likely due to cancellation of Keystone, signaling a war on oil). You do understand that your argument here is that yes, inflation under Biden completely sucks, but it stopped getting worse? How many thousands of dollars has this cost the average household? How many tens of thousands on any new home mortgages? Large reason why our economic is growing at anemic rates, costing many billions of dollars. All of the above is Bidenomics (not even getting into the real Bidenomics being millions of dollars from our adversaries flowing directly into the Biden family through a slew of shell companies).
Inflation literally started going up the day Biden took office (likely due to cancellation of Keystone, signaling a war on oil). You do understand that your argument here is that yes, inflation under Biden completely sucks, but it stopped getting worse? How many thousands of dollars has this cost the average household? How many tens of thousands on any new home mortgages? Large reason why our economic is growing at anemic rates, costing many billions of dollars. All of the above is Bidenomics (not even getting into the real Bidenomics being millions of dollars from our adversaries flowing directly into the Biden family through a slew of shell companies).
Inflation was from Covid. The supply chain has stabilized. Biden has absolutely crushed it as president.
LOL. Considering Trump and his GOP enablers ran huge budget deficits regardless of Covid, there's no much evidence to suggest inflation wouldn't have increased significantly regardless. LOL.
You literally just said that inflation went up because biden canceled a pipeline that wasnt going to be ready for another 4-5 years. Just think about the amount of utter brain rot you must suffer from. Lord have mercy LIke seriously how are there grown up adults in america who are this dumb. Genuinely what in the world happened to our education system? Why are adults getting so stupid suddenly.
lol these MAGAts have audacity to say that bidenomics is funneling money to his family when trumps greatest accomplishment was a 2 trillion dollar tax cut to the richest people in america. @BigDog63 They have the funniest view of the Trump presidency. They always somehow forget how his kids were working as offical employees and making hundreds of millions of dollars while being in the WH.
