There has been a doomer narrative surrounding economics ever since Biden was elected and inflation took off. Since we don't have very clear memories of the last period of bad inflation from the 1970s, it was easy to go into panic mode, I guess, for a the jabbering classes and the money men.
Anyway, it sure looks like we have inflation under control. We are also at historically high levels of employment. There are some bad sectors of the economy, so it's not all good news. Student debt is about to kick a bunch of people in the teeth and there's some weird shit going down in the housing sector. (Seriously, there should be some anti-trust action here.)
However, really the only thing that gave the GOP a plausible road back to the White House was a cratering economy. With the White House deciding to label this era Bidenomics, that signals that what they are seeing deeper in the data must be pretty good.
No comments:
Post a Comment