America’s voters have not given credit to the Biden White House for their country’s economic boom. Will they punish Kamala Harris for a bust? https://econ.st/3yJJxKF Illustration: The Economist/Carl Godfrey
Raj Rani
1mo
Wait, as a student of economics I understand that economists come in all stripes: the good, the bad, and tge really stupid. And they can be right, left, centre or swing wherever their paycheck comes from, or they can be just confused. It's very clear to me that the Economist is Dum Dum. So you understand that we had a deficit of 22 million jobs because of the Wuhan virus. This was before Brandon took over. Since then, 14 million jobs have been created. Both these numbers are from the US Dept of Labor Statistics. So, if you are not very stupid, you can see that the US is STILL in DEFICIT of 8 million jobs! Obviously, jobs will be added when going from a decimated base of -22 million. Or do you think Americans are morons and will fall for your cheap, political parlor tricks. That's just jobs. 8 million deficit. Let's talk about inflation. Do you have any idea about real, accumulated inflation across the past 3.5 years, you idiots? Try 60% to 200% across many categories that real Americans pay for in our grocery stores. And that's just groceries. Let's talk about other...oh, ok, you left the class?...you can't hide, Economist? What, you are going to report on Britain's problems? Oh, ok, be honest for a change.
SURESH RATHORE
1mo
The Economist Though the US which go to polls, is not entering recession, but it is for sure slowing down. That is bad news for #KamalaHarris . Investors are worried that a recession is just around the corner. US unemployment rate had risen to 4.3% in July, its highest since 2021. On 5 August, stock markets slumped worldwide, before recovering a little lost ground the next day. Well, to be honest the economy does not realty determine elections in America, but it is important. Its course over the next 90 days will weigh on the incumbent of Democrats’ or Republican’s chances in November 24 presidential election. What, then, of the political consequences of a slowdown but not a recession? Ms Harris still has a problem. Even if voters deny Democrats any credit for the economic boom, they may nonetheless blame her if the economy loses steam.
Mutsa Mambo Ph.D
1mo
Under President Biden the economy bounced back quickly after COVID https://www.linkedin.com/posts/mutsamambophd_presidentbiden-inflation-presidenttrump-activity-7228369314616119296-Zsb8?utm_source=share&utm_medium=member_android
Cody Holmes
1mo
Economic boom??? Maybe for shareholders. Not so much for everyday Americans dealing with inflation.
Eric Pritchett
1mo
It’s silly 🤪 to put a headline claiming there has been an economic “boom”. Utter nonsense.
Tom Ward
1mo
Like the IMF, EU turning the corner? https://www.linkedin.com/feed/update/urn:li:ugcPost:7198608951062462465?commentUrn=urn%3Ali%3Acomment%3A%28ugcPost%3A7198608951062462465%2C7199334494405828610%29 EU France hard left and its downfall https://www.linkedin.com/feed/update/urn:li:activity:7216331405788676096?commentUrn=urn%3Ali%3Acomment%3A%28activity%3A7216331405788676096%2C7216397377648107522%29 1 of 3 comments UK Election https://www.linkedin.com/feed/update/urn:li:ugcPost:7214521089408823296?commentUrn=urn%3Ali%3Acomment%3A%28ugcPost%3A7214521089408823296%2C7214598553917157377%29 EU and US should decouple Fiscal and Monetary policies FT https://www.linkedin.com/feed/update/urn:li:activity:7200171495208148992?commentUrn=urn%3Ali%3Acomment%3A%28activity%3A7200171495208148992%2C7200219697525522432%29 Voting machines https://www.linkedin.com/feed/update/urn:li:ugcPost:7228133829712957440?commentUrn=urn%3Ali%3Acomment%3A%28ugcPost%3A7228133829712957440%2C7228264035287269376%29
For the last 2 years, the recurring commentary on the US economy was about the need to keep interest rates high in order to control pandemic-induced inflation and to cool the jobs market. The hope was that the US could avoid a post-pandemic recession and effect a 'soft landing'. Now that goal appears to be largely achieved, shouldn't the Biden-Harris administration get credit for that? I am not saying that Trump won't be trying to make an economic slow-down and the period of high inflation the fault of the Democrats (when he presided poorly over the bulk of the pandemic) but I would expect that this article would include that perspective, not just the Trumpian Cassandra histrionics. Your newspaper is called 'The Economist', remember?
Tom Ward
1mo
The Economist on US economy https://www.linkedin.com/feed/update/urn:li:ugcPost:7206055403040702465?commentUrn=urn%3Ali%3Acomment%3A%28ugcPost%3A7206055403040702465%2C7208480214132080640%29&dashCommentUrn=urn%3Ali%3Afsd_comment%3A%287208480214132080640%2Curn%3Ali%3AugcPost%3A7206055403040702465%29 Debt, inflation and growth.. see comment to more https://www.linkedin.com/feed/update/urn:li:activity:7219590491711889410?commentUrn=urn%3Ali%3Acomment%3A%28activity%3A7219590491711889410%2C7219707886426361856%29
David Ryan
1mo
Swing the election? If you want a dictator that runs the central bank, fires the head of the SEC to please his crypto donators, and continued generosity to Musk tax avoidance darlings,then swing your naïveté vote to this criminal. Those multi million dollar Trump donators, not caring about illegals over the border. It’s the memo they gave Trump for his talking point for the masses.
M.Sc. in Data Analytics, SUNY Plattsburgh; B.A. in Economics, SUNY Binghamton
4wMIT found a large chunk of the reason we had inflation was due to government spending. Though, excess government spending certainly is not the sole fault of the current administration, the current administration has spent quite a large amount. They even gloat about the excess spending. The increase of jobs was also mainly attributed to workers being allowed to work again after the government and employers forced them out of work. I’m not sure that deserves credit.