The Briefing Room
General Category => Economy/Business => Topic started by: rangerrebew on April 26, 2024, 01:52:22 pm
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Growth slowing, inflation rebounding: Fresh, bitter Bidenomics pills
Opinion by Post Editorial Board • 15h •
Literally the day after President Biden bragged, “We’re following my blue collar blueprint to rebuild America, and guess what? It’s working!” Bidenomics struck with a vengeance Thursday: The economy grew at just a 1.6% annualized rate in the first quarter, a third less than the consensus forecast.
And while growth is slowing (from 4.9% in last year’s third quarter, to 3.4% in the fourth, and now 1.6%), inflation is heating back up.
A key gauge of price hikes, the personal consumption expenditures (PCE) price index, excluding food and energy, surged at a 3.7% rate in the first quarter.
And that suggests interest rates will stay sky-high, since the Federal Reserve wants PCE closer to 2% before it starts easing up.
Even before Thursday, real median wages (that is, inflation-adjusted) began dropping again (as they have for most of the Biden presidency), while most of the new jobs being created are part-time positions — and many of the rest are government jobs.
https://www.msn.com/en-us/money/markets/growth-slowing-inflation-rebounding-fresh-bitter-bidenomics-pills/ar-AA1nFRjf?ocid=msedgdhp&pc=HCTS&cvid=699c6be855684e03ae39c2c30c274e8f&ei=40
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Fact: There never was very much REAL growth under this administration.
Fact: Inflation never slowed down one bit so it is not "rebounding".
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We haven’t had real growth for almost 20 years
We absolutely are in desperate need of a Javier Milei
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The Government needs to embrace supply economics and competitive free market capitalism to grow GDP and fight inflation.
The Biden Admin is stacked with anti-capitalists. They will continue to overregulate, and enforce reduced productivity and stunted efficiency gains as official Federal economic policy.
Their policies will increase costs, constrain GDP, stifle productivity, maim efficiency gains, increase taxes, increase costs of servicing US Debt, increase the cost of borrowing (interest rates), and decrease the value of the dollar relative to other currencies and precious metals (import inflation).
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They'll fix it. Just raise the minimum wage another $20...
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They'll fix it. Just raise the minimum wage another $20...
I think it was Elizabeth Warren or one of those types that suggested that as a way to fight inflation