US Core inflation level lowest in 3 years

Thanks to Bidenomics, Your Thanksgiving Costs 110% of 2020's; On the Bright Side, You're Making Less

 

Unbelievable how many Americans haven’t gotten the memo …

25% Of Americans Are Still Paying Off 2022's Holiday Debt | ZeroHedge

 

Clueless Or A Liar? WH Press Sec. Touts 'Bidenomics' While Working Poor Suffer | ZeroHedge

 

Or deluded. It's like they are so weak-minded they can't face actual reality so they have to invent an alternate reality for themselves. The actual reality is the economy is doing ok and the president is a Dem. The right-wing alternate reality is the economy is doing horrible because the president is a Dem. It's nuts.

 

I think a lot of it has to do with media selection. For all their whining about CNN or NYT or Washington Post, those sources will report good economic metrics under a Republican or bad economic metrics under a Democrat. They ran numerous articles hyperanalyzing every aspect of inflation under Biden, for example. Meanwhile, you don't see similar articles featuring negative economic metrics from Fox when a Republican is in office or positive economic metrics when a Democrat is in office. For example, I googled foxnews and producer price index. The top three articles from Foxnews.com (they had the latest two editions from Fox business first) were from 2021 and 2022, when those metrics were higher. The fourth was a drop in prices...from 2018. Suddenly, main foxnews seems less interested in that metric as it declines.

Meanwhile, CNN has the monthly readings when you Google it, month by month. Good news and bad news.

This allows people to populate their own preferences for hard data (and create defense mechanisms when confronted with the hard data). All of it is an attempt at avoidance of cognitive dissonance.

 

I guess credit card debt was not high enough. 1.1 trillion soon.

 

WaPo's Taylor Lorenz Helps Biden Admin Peddle Inflation Propaganda | ZeroHedge

 

That bolded part is actually crazy.

 

Crazy but unsurprising, given the insane things our right-wingers on this board say on a daily basis.

 

the myth that this is a bad or challenged economy is just wrong

US third-quarter growth revised higher; corporate profits rise strongly | Reuters

The U.S. economy grew faster than initially thought in the third quarter as businesses built more warehouses and accumulated machinery equipment, but momentum appears to have since waned as higher borrowing costs curb hiring and spending.

The quickest growth pace in nearly two years reported by the Commerce Department on Wednesday, however, likely exaggerated the health of the economy last quarter. When measured from the income side, economic activity increased at a moderate pace.

"No sign of darkening skies for the economy in today's report, but growth is cooling," said Christopher Rupkey, chief economist at FWDBONDS in New York. "There's simply not as much wind in the economy's sails in the final quarter this year."

Gross domestic product increased at a 5.2% annualized rate last quarter, revised up from the previously reported 4.9% pace, the Commerce Department's Bureau of Economic Analysis said in its second estimate of third-quarter GDP. It was the fastest pace of expansion since the fourth quarter of 2021.

 

Why did they use January 2020 for the start of Biden's term? Do they not know when Biden became President or do they hope that people who would do things like repost it wouldn't realize?

 

Wage growth vs inflation U.S. 2023 | Statista

 

Go to Jan 2021 forward and it looks even worse? I don't know.

 

Makes you miss Obama doesn't it?