Traitor Joe...

[Starlight]

You said, "The first and foremost other economic indicator to consider, aside from unemployment, would be GDP growth. Did it go down last quarter?" and the answer is, yes, it went down last quarter.

Well done at spotting my ambiguous phrasing.

GDP growth was positive, not negative, in the last quarter. Which is what I was referring to.

[Mountain Man]

Well done at spotting my ambiguous phrasing.

GDP growth was positive, not negative, in the last quarter. Which is what I was referring to.

It was down from the previous quarter, what economists euphemistically refer to as "negative growth", which is not indicative of a strong economy.

[Stoic]

It was down from the previous quarter, what economists euphemistically refer to as "negative growth", which is not indicative of a strong economy.

"Negative growth" would be a decrease in the GDP, rather than a smaller increase.

[Starlight]

It was down from the previous quarter, what economists euphemistically refer to as "negative growth", which is not indicative of a strong economy.

As Stoic said, you are factually wrong about what negative growth is.

My point was GDP going down (negative growth) indicates a bad economy. GDP went up last quarter (positive growth). Hence your article's claim that all economic numbers other than employment show a bad economy is just factually wrong.

[Mountain Man]

As Stoic said, you are factually wrong about what negative growth is.

My point was GDP going down (negative growth) indicates a bad economy. GDP went up last quarter (positive growth). Hence your article's claim that all economic numbers other than employment show a bad economy is just factually wrong.

There was a clear dip in the GDP from Q3 to Q4. Consumer spending was down during the holidays. Companies did not ramp up holiday hiring as they traditionally do. Inflation is continuing to cause the price of basic goods and services to climb, and household incomes are unable to keep up with the rising costs. Record high gas prices continue to put a big dent in people's incomes. High wage, full time jobs are scarce while low wage, part time jobs are plentiful. New home construction orders are down, and projects that had been started are being cancelled. And on it goes.

There are just too many negative economic indicators for all but the most ignorant among us to claim that the economy is in good shape.

[rogue06]

There was a clear dip in the GDP from Q3 to Q4. Consumer spending was down during the holidays. Companies did not ramp up holiday hiring as they traditionally do. Inflation is continuing to cause the price of basic goods and services to climb, and household incomes are unable to keep up with the rising costs. Record high gas prices continue to put a big dent in people's incomes. High wage, full time jobs are scarce while low wage, part time jobs are plentiful. New home construction orders are down, and projects that had been started are being cancelled. And on it goes.

There are just too many negative economic indicators for all but the most ignorant among us to claim that the economy is in good shape.

A Washington Post/ABC poll taken at the end of last month found that 41% of Americans say they are worse off since Biden was installed with only 16% saying things are better. I suspect most of those doing better are government employees.

Another poll discovered that 80% of Americans have recently started dipping into savings or quit saving entirely.

Finally, more and more Americans living in the suburbs are installing chicken coops in their backyard in order to fight rising food costs.

And yet the government keeps insisting things are better.

[Mountain Man]

A Washington Post/ABC poll taken at the end of last month found that 41% of Americans say they are worse off since Biden was installed with only 16% saying things are better. I suspect most of those doing better are government employees.

Another poll discovered that 80% of Americans have recently started dipping into savings or quit saving entirely.

Finally, more and more Americans living in the suburbs are installing chicken coops in their backyard in order to fight rising food costs.

And yet the government keeps insisting things are better.

Part of that is deceit -- the old adage that if you tell a lie often enough, people will accept it as the truth -- and part of it is simply those in Washington being disconnected from the rest of the country. They look at their finances and think, "If we're doing fine, then everybody else must be doing fine, too." They simply have no idea what reality is like outside of their elitist bubble.

[Sparko]

Part of that is deceit -- the old adage that if you tell a lie often enough, people will accept it as the truth -- and part of it is simply those in Washington being disconnected from the rest of the country. They look at their finances and think, "If we're doing fine, then everybody else must be doing fine, too." They simply have no idea what reality is like outside of their elitist bubble.

Well you don't expect Biden to get up and say "Yes, I know we are doing terrible. The economy is in the toilet and inflation is destroying families. My bad." - do you?

[Ronson]

A Washington Post/ABC poll taken at the end of last month found that 41% of Americans say they are worse off since Biden was installed with only 16% saying things are better. I suspect most of those doing better are government employees.

Another poll discovered that 80% of Americans have recently started dipping into savings or quit saving entirely.

Finally, more and more Americans living in the suburbs are installing chicken coops in their backyard in order to fight rising food costs.

And yet the government keeps insisting things are better.

Personally, I am doing better now since Biden was installed, but that's just timing. I changed jobs early last year that was an opportune career move. However, it's not difficult to see the sad shape the economy is in - and is getting worse. Eventually, the few gains I made will be eaten away by inflation.

[Mountain Man]

Well you don't expect Biden to get up and say "Yes, I know we are doing terrible. The economy is in the toilet and inflation is destroying families. My bad." - do you?

Honestly, I would have a lot more respect for him if he did.

[Mountain Man]

Personally, I am doing better now since Biden was installed, but that's just timing. I changed jobs early last year that was an opportune career move. However, it's not difficult to see the sad shape the economy is in - and is getting worse. Eventually, the few gains I made will be eaten away by inflation.

Yes, there is an obvious difference between "Are you better off financially since Joe was installed?" versus "Are you better off financially because Joe was installed?" I would consider my present financial situation to be very good, but it has nothing to do with Joe, or even President Trump for that matter, but is solely because of my own personal choices. However, I can say that thanks to Joe's policies, my weekly grocery shopping hits the wallet quite a lot harder than it did while President Trump was in charge of things.

[Starlight]

Some commentary on Biden's SOTU speech, which probably goes best in this thread...

I thought it was a very good speech. Arguably the best I've seen. Although, it admittedly ran heavily to my tastes: Economics-focused and very aspirational policies to help the American people. Was surprisingly heavily economics-focused and almost no culture-war stuff. Which I liked because I do think Dems are better to stick to their economic strengths than to waste time on the Republicans constantly changing manufactured culture wars.

Although Biden didn't address the elephant in the room (pun intended), which is that the Republican congress won't pass any of his economic agenda.

Given that, Biden was way too nice to Republicans, implying in his speech that they'd worked with him to pass dozens of his policies already. He made them out to be his friends across the aisle, and people he can and does work with... rather than the more truthful fact that they are people who are going to veto 100% of his agenda.

This was brought into starker contrast in Sarah Huckabee-Sanders' reply speech in which she went extremely negative on Biden, and if she didn't actually say he was the incarnation of Satan trying to actively destroy America, there's probably people who came away from her speech thinking that's what she was saying. Biden's like the kid at school who sees the bullies as potential-friends to play patty cakes with, while they're trying to decide how many dozen times they're going to dunk his head in a toilet.

[Ronson]

My thoughts on Biden's SOTU speech; Talk is cheap - actions are what matter. I didn't watch it.

[Mountain Man]

Referring to Joe's "State of the Union" address:

I thought it was a very good speech. Arguably the best I've seen.

I have to assume this is trolling.

[Mountain Man]

My thoughts on Biden's SOTU speech; Talk is cheap - actions are what matter. I didn't watch it.

I haven't watched a SOTU address in decades, not even President Trump's. They've always been more like campaign speeches than an honest and unbiased analysis of the current state of the country.