U.S. growth expectations for 2021 and even 2022 are going through the roof. Thanks Biden. (illegal, death)
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Not really, as the time line is different. In the beginning of Trump's first year the economy was still anemic and everyone on the left (including economists that leftists love to listen to (i.e. Krugman) predicted an economic meltdown because of Trumps policies.
It wasn't until Trump had been in office for over a year did things pick up, and that is when Obama & Co start claiming it was due to his previous administration, not Trump's.
Yet you know very well had things gone as predicted and the economy fell on it's face, Obama & Co would not have said they were responsible for it.
So you think you answered the question with a ideological one-upmanship, but instead actually exposed the hypocrisy of the left over the same thing you are claiming the (R's) are doing.
Not really, as the time line is different. In the beginning of Trump's first year the economy was still anemic and everyone on the left (including economists that leftists love to listen to (i.e. Krugman) predicted an economic meltdown because of Trumps policies.
No, at the beginning of Trump's first year the economy wasn't anemic, that is just right-winger Trumper propaganda Trumpers believe.
Quote:
It wasn't until Trump had been in office for over a year did things pick up...
This too, is nothing more than right-wing propaganda Trumpers believe. They also believed Trump's claim that "We're Going To See Economic Growth Of 4, 5 And Maybe 6 Percent", but since we only got GDP growth of 2.3% in 2017, 3.0% in 2018, 2.2% in 2019 and -3.5% in 2020, that goes to show how gullible Trumpers really are.
Oh yeah, and in case you've forgotten, 2018 job growth was revised down by 20%. But of course Trumper memories are incredibly short and they've completely forgotten all about that already.
As I repeatedly pointed out on this forum, Trump's economy was no different than Obama's, but because Trumpers are so utterly brainwashed they think it was the best thing since Ronald Reagan.
As I watched Powell give his speech yesterday, I had to keep pinching myself to check that I wasn’t dreaming. The technocrats who’ve run the world economy since the Volcker Coup finally seemed to get it. Could this really be happening? Could they really have kicked the old habits of mind and embraced the New Empiricism? Evidently, they could. In what follows, I will give a short account of the intellectual and political economy revolutions unfolding before our very eyes. I will argue that we are not only at an inflection point in the modern history of the world economy. We may, in fact, be at the turning point of the secular cycle. The present revolutions in US political economy, I will argue, constitute nothing less than a final break with neoliberalism.
[...]
Such were the makings of the perfect storm. With fiscal policy not only revived but virtually on steroids and with monetary policy accommodative for the foreseeable future, we’re now looking at the greatest economic boom in living memory. The Fed now reckons that the US economy will grow at 6.5 percent in 2021. Goldman is more bullish. The 38th floor at 200 West believes that the US economy will grow at 8 percent instead. The strategists are probably closer to the mark.
Data released on Thursday reflected a positive momentum in the US economy. Among those, was the ISM service index rising to the highest in decades. Analysts at Wells Fargo point out the service sector activity has never been so strong and broadly based. They warn that as the reopening of the services economy shifts into a higher gear, demand is outstripping scarce supply pushing the prices paid component to the second-highest reading on record.
“The reopening of the services economy shifted into a higher gear in mid-May after the CDC announced on May 13 that fully vaccinated people do not need to wear a face mask in most settings. While this milestone is good news in the context of our expectation for a surge in services related spending this summer, the demand surge is further lengthening wait times for deliveries.”
It's all giant corporations. Yeah, they'll do great, as all the small businesses dry up and people are forced to use the megacorporations more.
Do you ever leave your house and talk to real people on the street? Strike up a conversation with the local shop owner about what HE thinks about the future? Those are the people in your neighborhood. Those are the people who matter, in your life. Are those people going to do well in the next two years, or is it only the people in a particular socioeconomic class that's way above any of our pay grades?
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