The Trump administration's dismissal of economic experts and advisory committees is a dangerous move that could lead to a recession. Can we afford to ignore the warning signs and let politics dictate our economic future?
It’s odd that people here mock voters for “pRiCe oF EgGs” but don’t realize that it was shorthand for the economy being shit for the vast majority of Americans. Obviously Trump isn’t better for the economy, but there were fundamental problems like the high cost of living that people were desperate to get out of and desperate people do desperate things which can be seen as stupid.
Our economy has been an inflatable castle patched with band-aids all over, especially since 2008, but the foundations for this setup was laid down decades before that. Touting higher consumer spending numbers (because people have to pay more for everything), lower unemployment (because people are kicked off unemployment and have to work shitty gig work), or the dumb stock market (which has been pumped with massive money printing) is as dishonest as outright hiding numbers.
But Harris told me the economy was doing great as my family had to balance eating food, paying rent, and getting my dad’s medical bills for having a stroke. She’d never lie!
I posted elsewhere, but I think the real issue is that it really didn’t look like a recession. While technically it was a recession by the two negative quarters definition, if you look at real GDP it’s barely a blip.
I suspect at the time the concern was that calling it a recession would have impacted the recovery. Not that I think that’s a good excuse, but they werent hiding the data. With Trump, he’s trying to hide the downturn rather than trying to rally the recovery.
Calling out Biden here is a very “both sides” centrist kinda mindset.
The circled area is the blip that your source is referring to. The giant drop before it is from during Trump’s first term.
Everyone thought we were going to hit a recessesion that would be a big issue. As you can see it was fixed extremely quickly. The wall street journal leans right and was using it as propaganda to promote Republican efforts.
Yeah really our productivity in those terms just dropped to 2016 levels.
Now if you compare to Argentina’s struggles. People can see why there were so many people trying to get out of there. They weren’t criminals being sent out of their prisons, they were people fleeing a giant recession that left them starving.
Just do what Biden did and redefine what a recession is to make it look less gloomy
Do what you do and redefine reality to fit your propaganda model.
Well, actually it was Obama that redefined recession. Biden redefined unemployment.
This is like pointing out grammatical errors in the Titanic’s breakfast menu.
Wrong. A 2 second search proves you wrong.
https://www.wsj.com/articles/redefining-the-r-word-recession-biden-economy-advisers-gdp-nber-semantics-poltics-gramm-rudman-hollings-11658951723
I responded to the wrong comment, here: https://lemmy.dbzer0.com/comment/17519954
It’s odd that people here mock voters for “pRiCe oF EgGs” but don’t realize that it was shorthand for the economy being shit for the vast majority of Americans. Obviously Trump isn’t better for the economy, but there were fundamental problems like the high cost of living that people were desperate to get out of and desperate people do desperate things which can be seen as stupid.
Our economy has been an inflatable castle patched with band-aids all over, especially since 2008, but the foundations for this setup was laid down decades before that. Touting higher consumer spending numbers (because people have to pay more for everything), lower unemployment (because people are kicked off unemployment and have to work shitty gig work), or the dumb stock market (which has been pumped with massive money printing) is as dishonest as outright hiding numbers.
But Harris told me the economy was doing great as my family had to balance eating food, paying rent, and getting my dad’s medical bills for having a stroke. She’d never lie!
Don’t know why you’re getting down voted. This is EXACTLY what Biden did.
Just shows people cannot handle the truth so they down vote instead. Smh.
I posted elsewhere, but I think the real issue is that it really didn’t look like a recession. While technically it was a recession by the two negative quarters definition, if you look at real GDP it’s barely a blip.
I suspect at the time the concern was that calling it a recession would have impacted the recovery. Not that I think that’s a good excuse, but they werent hiding the data. With Trump, he’s trying to hide the downturn rather than trying to rally the recovery.
Calling out Biden here is a very “both sides” centrist kinda mindset.
The circled area is the blip that your source is referring to. The giant drop before it is from during Trump’s first term. Everyone thought we were going to hit a recessesion that would be a big issue. As you can see it was fixed extremely quickly. The wall street journal leans right and was using it as propaganda to promote Republican efforts.
Thanks for adding the additional context!
What’s funny is the covid drop isn’t even that bad either compared to some other recession. So the 2022 blip is really inconsequential.
Yeah really our productivity in those terms just dropped to 2016 levels.
Now if you compare to Argentina’s struggles. People can see why there were so many people trying to get out of there. They weren’t criminals being sent out of their prisons, they were people fleeing a giant recession that left them starving.
That’s the BlueMAGA cult mindset
It’s Blue MAGA who will ignore anything critical of Dear Leader. Calling out their hypocrisy gets you downvoted and banned.
EDIT: Thanks for proving my point!