In Biden's first year, economic growth reached a 37-year high

[evince]

You fail to define what you are saying in terms of the opposite of economic growth. Consider the following clarification:

Since the growth rate of the price level is just another term for the inflation rate, the inflation rate must fall. An increase in the rate of economic growth means more goods for money to “chase,” which puts downward pressure on the inflation rate."

https://www.cato.org/policy-report/...growth rate of,pressure on the inflation rate.

Use a respectable source


Cato is crap

 

[evince]

Um its not economic growth but recovery from a forced stoppage of the economy due to the China Cootie.
Same with employment.
Growth will only come once we have recovered all that was forced to stop.

It’s world wide dude


Russia ducked everyone including themselves

 

[evince]

Re teaching people on the subject of how hard life can be will help a lot.

Republicans love to crash the economy

 

[evince]

Despite higher wages, inflation gave average worker a 2.4 ...https://www.cnbc.com › 2022/01/12 › higher-pay-eclip...
Jan 12, 2022 — Despite higher wages, inflation gave the average worker a 2.4% pay cut last year · Inflation grew 7% in December from a year earlier, the U.S. ...

This is what will cause a red Tsunami in November.

It’s world wide


Thank your hero Putin asshole

 

[evince]

What's all the more impressive is that, unlike any other time in history when we had growth that strong, no part of that was attributable to falling interest rates or rising deficits. Normally, when the economy is that hot, you have either growing monetary stimulus, growing fiscal stimulus, or both. In 2021, though, the deficit fell and rates were flat.

They only care about the deficit when they can use it to fool their minions

 

[ExpressLane]

It’s world wide


Thank your hero Putin asshole

It started MONTHS before Putin attacked Ukraine.

 

[evince]

It started MONTHS before Putin attacked Ukraine.

Link

 

[ExpressLane]

Link

https://www.wsj.com/articles/it-isn...consumer-price-index-energy-wages-11649792567

This Isn’t Putin’s Inflation
The price rises began long before Russia invaded Ukraine and will be hard to stop.

 

[evince]

https://www.usinflationcalculator.com/inflation/current-inflation-rates/

 

[evince]

https://www.wsj.com/articles/it-isn...consumer-price-index-energy-wages-11649792567

This Isn’t Putin’s Inflation
The price rises began long before Russia invaded Ukraine and will be hard to stop.

Can’t read it asshole

 

[evince]

https://www.usinflationcalculator.com/inflation/current-inflation-rates/

This has the month by month chart


It began rising when vaccines were in big supply and people felt safe to go back into the world and participate in commerce again


Then it was increased by the Putin threat began emerging


You idiots always want to make things single caused


Because your fucking stupid

 

[evince]

Oh


And the oil industry used the opportunity to begin gouging the people world wide

 

[Mina]

The employment rate is nearly flat

The unemployment rate is down 2.2 points in the last year and 0.3 points so far in 2022. It is "flat" only in the last three months, when it's just a tenth of a point higher than the modern record low. Consider that traditionally right-wingers argued 5% unemployment was "full employment" (back when that claim was convenient for excusing the fact the Reagan/Bush economy never once managed to go below that), we wouldn't expect to be able to push much below the current level, especially with the Fed trying to chill the economy.

GDP growth isn't keeping up with inflation

For the 12-month period ending Q1 2022 (the last quarter on record), GDP rose from $22.038226 trillion to $24.384289 trillion, which is about 10.65%. Over the same period, the consumer price index rose from 265.028 to 287.708. That's about 8.56%. As you can see, GDP has been more than keep up with inflation. Again, it's only in the last three months (with the Fed hitting the brakes) where inflation outpaced GDP.

The economy is shrinking in the last two months putting the nation on the verge of a recession.

The economy doesn't get measured on a monthly basis. It's measured quarterly. Currently, the Blue Chip consensus is that the economy is growing a little less than 3% above inflation, and the Atlanta Fed puts it about 1.3% above inflation:

https://www.atlantafed.org/cqer/research/gdpnow

 

[evince]

https://www.mercurynews.com/2022/05/19/commentary-doubt-removed-oil-companies-are-gouging-us/amp/


Commentary: Doubt removed, oil companies are gouging us
Thomas D. Elias
PUBLISHED: May 19, 2022 at 6:00 a.m. | UPDATED: May 19, 2022 at 6:13 a.m.
Categories:Editorials, Local News, Local Opinion
There was some room for doubt back in February, when gasoline prices rose precipitously: Until the oil companies who refine most California gas unveiled their first-quarter profits, it would be impossible to be sure the spike stemmed from price gouging.

That was because the pump price increase from about $4.30 per gallon to nearly $6 (and more in some places) came just as the United States announced a boycott on Russian oil as a punishment for the invasion of Ukraine.

Price gouging seemed the logical explanation for the hike. Russian oil amounted to less than 3 percent of California’s supply; why should its sudden disappearance cause a price hike of 12 times that much?

 

[Truth Detector]

In Biden's first year, economic growth reached a 37-year high

MSNBC You're such a gullible mindless leftist.

Labor participation rate is down to 62.3%

Gas prices have skyrocketed 55.26% from $3.04 to now $4.72.

Inflation is at a 40 year high at 8.3%. The rate would be MUCH higher if gas prices were added to the estimate.

We're in a proxy war with Ukraine sending TENS of BILLIONS of much needed dollars overseas.

We can't stop the massive wave of illegal immigrants walking across our borders every single day.

You must be one of those 32% of morons who think Pinocchio Joe is doing a fine job.

 

[Truth Detector]

Actually, it's not. The economy can grow, and there can be inflation. They are 2 completely separate measures, for 2 different things.

The economy stops growing as inflation eats up wage gains and makes everything too expensive. Try to be less of an uneducated moron.

 

[evince]

Big oil hates Democrats


They jumped at the chance to gouge Americans


And loved the idea that clueless idiots would blame a Democratic president

 

[evince]

The economy stops growing as inflation eats up wage gains and makes everything too expensive. Try to be less of an uneducated moron.

One of those idiots

 

[Mina]

What are the odds we avoid a recession this month?

Pretty good. Currently the GDP Now indicator says the economy is growing right now, and there's been no sign yet of rising unemployment, which pretty much always shows up before the NBER declares a recession. Like when have we EVER had a recession with 3.6% unemployment?

 

[Truth Detector]

Um its not economic growth but recovery from a forced stoppage of the economy due to the China Cootie.
Same with employment.
Growth will only come once we have recovered all that was forced to stop.

The civilian labor force was 163.54 million in 2019m before Covid. It currently stands at 161.2 million. We are still a net 2.34 million fewer employed than before the shut downs. In other words, all the talk about job creation means nothing until we can get back to where we started from.

Pinocchio Joe doesn't know much about economics.