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
GDP up: who cares 🤷
Jobs up: person - I’m still working for same old wages while expenses up
Stocks up: who cares; middle class melted away.
Inflation: doesn’t account for anything that actually matters
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
Nearly three in five Americans are guilty of wrong think, or perhaps Guardian columnist's math is in question?
Dear Guardian,
- GDP is up? looks pretty unflattering to me at 1.6% - https://tradingeconomics.com/united-states/gdp-growth
- the stock market is not the economy
- businesses can't get people to work, thus jobs
- 3.5% is still going up, and it's still too high (declining from 9% year-over-year to 3.5% is still going up)
Thanks, taxpayer.
But won't someone please think of the poor guided missiles?!
