John Cole wonders if economic good news is, in fact, good news. Economics seems to be a field especially fraught with very smart people who fall into confirmation bias, despite pretensions of objectivity. The Inflation Debate has seemed pretty silly to me, as it does to Cole. We just has a massive contraction. After a contraction, you have an expansion, especially since the contraction was not caused by a fundamental weakness in the economy (say a housing bubble), but a global pandemic.
Today's robust job numbers are excellent news, and should these trends continue even a little bit, we should see a more robust economy in the spring of 2022. If we can keep the damned pandemic at bay, that should mean things will be getting much better by the summer.
The so-called collapse in Democratic support on Tuesday is really just some dispirited Democratic leaning voters staying home. Covid came roaring back, the economy seems weird, kids still have to wear masks in school... If we put much of that in the past by the spring - it takes a few months for good news to cement itself - Democrats should be in a stronger position next fall.
It really all comes down to Covid.
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