Stagflation is here

[CC27]

edhopper (37,867 posts)

Stagflation is here

No jobs, no wage increases, inflation. Is the Media afraid of the word?

bucolic_frolic (57,149 posts)
1. Unpatriotic to use the word stagflation. It's how the US Treasury plans to pay off federal debt.
You don't have a job, your money is worth less, debt is cheaper and cheaper each month.

Johonny (27,480 posts)
3. It appears the FED will be powerless to change
The trajectory. Certainly Trump is clueless to the causes and solutions. I assume it will continue to get worse...

https://democraticunderground.com/100221539091

The DUmmies got their talking points I see

[SVPete]

In real life, the US economy is growing, with investments being made that will continue and even increase that growth. DU-folks' very mental inversion of reality is pretty jaw-dropping.

[Ralph Wiggum]

Wow, what an ignoramus.

"Stagflation" is of course a portmanteau in a failed attempt to sound "sooper" smart to the economically uneducated lefties. Sounds like it is true because it reinforces their beliefs.

The USA is not even close to stagflation, defined by high inflation, slowing economic growth, and high unemployment. A few inconvenient facts for ya' DUmmy:

Inflation, while still too high is at 3.2% per year. A much better scenario given the cumulative 21.6% inflation during the Sharter Joe administration.

The economy is certainly not slowing, as the final read on the 2nd Q GDP was 2.2% for the quarter, with estimates for the 3rd quarter are hitting 5%.

High unemployment rate? At 4.2%, while still a notch too high, is not even close to dire.

Considering you love looking at root causes, the only two reasons that the economy doesn't "feel" great is because of rampant government spending and the irrational regulatory state.

Invented narratives that sound good to your fellow comrades.

[SVPete]

...
High unemployment rate? At 4.2%, while still a notch too high, is not even close to dire.
...

Reaching back to De Anza College ECON 1A, there is a residual "friction" unemployment rate that is assumed will always be due to ordinary causes such as company cutbacks, people changing jobs or careers, people moving to different states and cities, local economies' changes. The number mentioned in the class was 4%. IOW, current unemployment is very close to that floor, a percentage that will vary little while the individuals represented change daily, weekly, and monthly.

[CollectivismMustDie]

If there are no jobs, why are there 'help wanted' and 'now hiring' signs all over the place?

[SVPete]

Here in the SF Bay Area, Chick-fil-A continues to expand, so every new store is however many dozens of workers.

The decades-old M nearest us recently got torn down and the rebuilding had already begun, more dozens or hundreds of construction jobs.

The mall across the street from our church, over the past few years, tore down an empty former Lucky supermarket at one end of the mall and a new multi-story condo building is being built in its place and part of the parking lot, more hundreds or thousands of construction jobs.

In another industrial sector - unlike many DU-grade Progs, I do not despise construction and trades workers as "uneducated" - and on the other side of San Jose from me a certain multi-billion-dollar computer company is having trouble managing its growth - hiring people, rehab'ing older buildings, and is currently building a new three- or four-story building (more construction jobs!).

I'm sure that many cities outside of Silicon Valley and especially outside of California could say to me, "I'll see ya and raise ya!"

[SVPete]

I'm starting a thread with this, but in response to the DUmb OP:

AND THEN THERE ARE THE FACTS: Hakeem Jeffrries, Meet the Best U.S. Economy in Decades

https://marktaps.substack.com/p/and-then-there-are-the-facts-hakeem

Here’s the claim House Minority Leader Hakeem Jeffries made on X in a September 26 tweet: “Republican policies have tanked the economy. And the American people know it. Time for dramatic change.”

Whenever I run across a nonsense claim like this from officials in either of America’s two major political parties, it’s hard to decide if I should laugh, cry or just shake my head in puzzled amazement.

Whatever option you take on this particular Jeffries comment, Just Facts Daily has the correction that you will never hear out the Minority Leader’s mouth, uttered by any talking head on CNN or MS Now, or read on the pages of the New York Times, Washington Post, etc. etc. ad nauseum Mainstream Media:

• Average annual inflation during Trump’s second term (with Republicans controlling both the House and Senate) has been 2.9%, which is 41% below the 5.0% average under Biden and 55% below the 6.5% average under Biden while Democrats controlled both the House and Senate.

• Real median household income, which is published only on an annual basis, grew from $85,210 to $87,460 during the first year of Trump’s second term, or by 2.6%, which is 445% higher than the average annual growth rate of 0.5% under Biden and markedly better than the average annual decline of 1.3% under Biden and Congressional Democrats.

• The poverty rate, which is published only on an annual basis, was 10.2% during the first year of Trump’s second term, which is the lowest level ever recorded in U.S. history, 9% below the average annual rate of 11.2% under Biden, and 13% below the average annual rate of 11.6% under Biden and Congressional Democrats.

• Because association doesn’t prove causation, the data above cannot prove which politicians have done a better job on the economy, but they do deflate Jeffries’ rhetoric.

• In prior election cycles, major media outlets, in concert with leading Democrats, have misled the American people by talking down the economy despite robust economic indicators during Republican presidencies and then talking up the economy with similar indicators during Democrat presidencies.”

[CC27]

I'm starting a thread with this, but in response to the DUmb OP:

AND THEN THERE ARE THE FACTS: Hakeem Jeffrries, Meet the Best U.S. Economy in Decades

https://marktaps.substack.com/p/and-then-there-are-the-facts-hakeem

Thanks for posting