David RothschildBreaking News: The U.S. economy grew at a 2.9% annual rate in the fourth quarter, a solid pace that reflected the resilience of consumers and businesses.
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https://nyti.ms/3XWLbj9
Economists who focused on core indicators were completely vindicated that economy from 2021-2022 was, in light of the twin catastrophes of COVID & Russian Invasion of Ukraine, a *miracle* of sustained & sustainable growth, transitory inflation partially offset by rising wages.
Keith RottmanMainstream Media who focused on Republican talking points were wrong, and mislead the American people into thinking we had a historically bad economy at a time we were actually experiencing an economic *miracle*
I do not know the future but if you polled top economists in 2019 for their most optimistic: jobs, inflation, wage, GDP estimates assuming there would be (1) worldwide pandemic (2) Russian invasion, they all would have all fallen short of how well US did over last 2 years.
Louis Ingenthron@DavMicRot And it only cost a million lives!
The Democratic Difference
Ton Chrysoprase@DavMicRot You know that’s an unfair comparison. Democrats just have the luck to take over at the tail end of recessions caused by Republican policies. Easy to have job growth when you take over after 4-8 years of abject ineptitude.
Stargeezer Smith@DavMicRot
The Dem Presidents have done their jobs of delivering useful things to our society.
Someone (the press or Dems?) has not been getting that message to nearly half the American citizens.
Robin from Colorado 🇺🇸🇺🇦@stargazersmith @DavMicRot billionaire media is not served by this message. So screaming into a wind tunnel. We are the Dems. We are the media.
@robinbrenizer @DavMicRot
That is the challenge though, I think. I don't believe today's republican party would have enough voters to be relevant if one could find a way to enlighten their voters.
That is the challenge though, I think. I don't believe today's republican party would have enough voters to be relevant if one could find a way to enlighten their voters.
@stargazersmith @DavMicRot broadband cable to the rurals may change this dynamic. Maybe that’s why GOP didn’t like it
Economics is Science@DavMicRot So, about a Net gain of 150,000 Jobs in all of GWB’s 8 years as president. F’in A. That’s bad.
Douglas Michael Massing@DavMicRot
Footnote: The decline at the beginning of Obama’s first term was driven in large part by Republicans’ sustained efforts to slash government employment. There was a months-long stretch where private employment was increasing, and net employment was being dragged down by the gutting of government.
Footnote: The decline at the beginning of Obama’s first term was driven in large part by Republicans’ sustained efforts to slash government employment. There was a months-long stretch where private employment was increasing, and net employment was being dragged down by the gutting of government.
Sean Pendleton@DavMicRot @jeffjarvis oof, I know why it happened, given context of the pandemic, but wow that looks so bad
DoctorSynth@DavMicRot All this fear of a recession has corporations laying off thousands of workers to boost their stock value, thus attempting to cause a recession. Amazing we’re so resilient when eggs cost $8
Lucy B@DavMicRot Unfortunately, a quick look at MSM shows they are entirely dependent upon GOP talking points.
Chris Thomas@DavMicRot and - one can't help but assume as a result - we've seen tens of thousands of layoffs from some of the top tier of the tech sector.
Those employees will be fine - the technical unemployment rate is so low you can't measure it so much as dig for it - but the cost to those companies in lost expertise will dog them for years to come