Summary
President Joe Biden highlighted his administration’s economic record, citing consistent job growth and a 2.7% inflation rate drop from its 2022 peak.
December’s jobs report showed 256,000 new jobs and declining unemployment, signaling steady economic growth.
However, inflation remains above the Federal Reserve’s 2% target, and interest rates remain high, impacting homebuyers and businesses.
Public pessimism lingers on affordability as Biden passes a largely strong economy to his successor, Donald Trump.
In this theead: A whole lot of people who don’t understand that deflation is awful.
That’s fine, we’ve got other options. Let’s just see how big the disconnect needs to get before we start taking them.
Deflation is fine. Plenty of countries have been through deflation and they haven’t exploded. Japan is probably the best example.
You mean that period of Japan that they call “the lost decades”. No one would ever want their economy to go through that.
You mean the decades their life expectancy actually grew? Japan showed that it can be managed. That it’s not this wild beast wall street would have you believe it is.
Really? Japanese life expectancy is the stat you’re going to pull up to justify this. Go take a look at the Japense life expectancy from 1950 to today and try and find the decade where their economy crashed. You cant because its a consistent increase not at all tied to their economic successes/failures.
Its not wall street saying this is bad its the bank of Japan.
The Japanese version of Wall Street disliking deflation is not the great point you think it is. And yeah if it was so bad you would see a drop in statistics like life expectancy. The fact that people were able to largely keep going with their lives means it’s not the apocalypse.
Im sorry to be rude but you have no idea what you are talking about you dont even know what the bank of Japan is. The bank of Japan is the Japanese central bank that monitors and controls Japans monetary policy. Its nothing like wall street which is an american stock exchange.
Also Life expectancy has so many contributing factors you cannot point to it and say “it didnt go down therefore this change was good”.
Oh I’m sorry, the financial elite. Happy?
And yeah there are a lot of factors. But one pretty universal one is a functioning economy.
Financial elite? They aren’t the “financial elite” they are a bunch of economists that get paid shitty level government wages. The highest ranked person in the BOJ makes 220k USD a year.
BUt tHeY dIdnT kEep dOmInaTiNg Tech anD cArS
Which has nothing at all to do with China, Korea, and Taiwan all rushing to be local and global competitors I’m sure.