Also: even if the inflation numbers *weren't* gamed, the *official* inflation numbers are still a "bad economy" indicator because (1) 3.5% is still high & acts as a significant annual wage cut for every worker (2) it has been high in every single year of Biden's term
The media says the economy is good because:
- GDP is up
- Stocks are up
- Jobs are up
- Inflation is "only" 3.5%
All these numbers can be gamed. In particular, I wonder how much the GDP's rise is due to military spending that doesn't "trickle down" to the rest of the economy.
https://www.theguardian.com/us-news/article/2024/may/22/poll-economy-recession-biden
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