It's Morning in America
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There's been a lot of talk about the Fed having been too timid in both cutting and raising rates. What do you think?
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S&P at all time high.
74% higher than it was four years ago today.
Welcome to Joe Biden's America
@jon-nyc said in It's Morning in America:
S&P at all time high.
74% higher than it was four years ago today.
Welcome to Joe Biden's America
Yes, sort of. Trump had a higher % increase, although we'll see what the final number is come election day. There always seems to be some big swings in October.
Trump went up 48%, Biden is only at 46%. Of course Trump also injected the country with truckloads of cash to buy stocks with.
The Dow had risen 41 percent by this point of Trump’s presidency, and the S&P was up about 48 percent. Under Biden, the Dow has risen 33 percent; the S&P, 46 percent.
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And all the job growth has been undocumented migrants or TPS migrants at minimum wage. Much of the GDPgrowth is due to companies that have stopped exporting jobs to 3rd world countries, but instead are importing 3rd world countries to Ohio, and Pennsylvania, and Michigan.
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That’s why so much of the country still feels an economic decline even if the gross numbers look positive. It’s because much of the country IS in economic decline.
The Brad
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That’s why so much of the country still feels an economic decline even if the gross numbers look positive. It’s because much of the country IS in economic decline.
@LuFins-Dad said in It's Morning in America:
That’s why so much of the country still feels an economic decline even if the gross numbers look positive. It’s because much of the country IS in economic decline.
All you have to do, is get in a car and drive a good bit through fly-over country.
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@LuFins-Dad said in It's Morning in America:
That’s why so much of the country still feels an economic decline even if the gross numbers look positive. It’s because much of the country IS in economic decline.
All you have to do, is get in a car and drive a good bit through fly-over country.
@Jolly said in It's Morning in America:
@LuFins-Dad said in It's Morning in America:
That’s why so much of the country still feels an economic decline even if the gross numbers look positive. It’s because much of the country IS in economic decline.
All you have to do, is get in a car and drive a good bit through fly-over country.
May I suggest this day trip?
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You know, I was think just the other day about all the good jobs (and a few so-so jobs) we've lost in the last few decades in the Central and Northern part of Louisiana.
We've lost three IP papermills, one Olinkraft papermill, a huge GM (small pickups) plant, a GE plant, a GP plywood plant. And several of the smaller towns had garment plants that are all now closed...That's just the stuff I can think of off the top of my head.
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@jon-nyc said in It's Morning in America:
Great! Let’s take a deeper dive.
We know that much of the GDP growth recently has been driven by new jobs, right?
We also know that the vast majority of new jobs over the past three years have gone to foreign born workers… Oh, I know WaPo and Politifact have both fact checked that claim by pretending the workers returning to their pre-existing jobs post-COVID are new jobs, but we can all be honest here.
So the real improvement for most Americans by the great economic conditions has only been in their retirement accounts thanks to S&P gains. Except, those gains have been mitigated for many/most(?) as they have been pulling money from those accounts in alarming amounts to pay bills. https://www.pbs.org/newshour/show/why-more-americans-are-making-hardship-withdrawals-from-retirement-accounts
So you can claim it’s a good morning, but most Americans aren’t feeling it.
And now, as it turns out, a significant amount of the foreign born labor market has been little better than chattel slavery or indentured servitude. https://jewishjournal.com/commentary/opinion/375011/feds-and-state-ag-investigate-an-alleged-human-trafficking-empire-run-in-springfield-ohio/
Now this is only Springfield, but the story is the same in Charleroi, and countless other small communities.
A real hard look is being taken at countless migrant staffing agencies in the US, and so far it’s looking bad. Very bad.
It was a good morning in the 1840s, too, back when Cotton was King.
