get used to it.a fan wrote: ↑Tue Nov 17, 2020 1:03 pmYes. Borrowing a few trillion dollars, and pumping it throughout the country, willy-nilly, will do that.wgdsr wrote: ↑Tue Nov 17, 2020 12:58 pmtotal employment had been climbing.Farfromgeneva wrote: ↑Tue Nov 17, 2020 12:42 pmThe underemployment metric would suggest it wasn’t nearly enough to declare success. I would also note it took a long time after the financial crisis for wage growth to make ground. Stabilization took 4-5yrs into 2013, then we had the “taper tantrum” that summer because, oh god the Fed is going to raise rates, then the biyach Fed backed off and let the market have their way. There was almost no way to see true wage growth until 2014 or 2015.wgdsr wrote: ↑Tue Nov 17, 2020 11:40 amwage growth was probably the best metricFarfromgeneva wrote: ↑Tue Nov 17, 2020 10:56 amAside from the stock market, which is not the economy, can you point to quantitative or measurable items that indicate the president had things going in the right direction economically? And I would point out that economists who lean both Ways have exposed massive flaws in the measurement of unemployment rate, they are all working towards a better measurement to eventually be adopted by the government which would apply underemployed, meaning people working but below the level they need to support themselves effectively. By this measurement we weren’t doing very good.kramerica.inc wrote: ↑Mon Nov 16, 2020 11:47 pm Of course it could be a pro Biden swing. Or a pro trump Swing. He had things going the right direction before the Rona hit.
All I read is it’s probably excitement about split gov and no likely major policy changes.
So not applying a flawed UE rate and understanding the stock market doesn’t mean anything, what did he have going well?
GDP growth?
Stability of the dollar?
Budget deficit?
Productivity?
Inflation? (Why did we have Powell lowering Fed Funds prior to Rona if inflation was stable at the long run benchmark? Deflation is 100x worse than inflation when it hits you surely know)
Other metrics?
https://www.epi.org/publication/swa-wages-2019/
a lot of numbers someone can not like in there (wage inequality, others), but as a result of the already tightening employment picture prior and since, wages had a lot of beneficiaries.
And while that’s a nice metric, it’s not enough to state the “economy was humming” under this soon to be prior admin. Fact is things were weakening in 2019 for sure.
https://www.bls.gov/opub/ted/2019/mobil ... r-2019.htm
https://www.statista.com/statistics/269 ... ed-states/
as had wages. started in 2014 for both in unison. i guess you can have any take you wish.
inflate, default to the fed, or semi-permanently low rates. pick one.
or we have a magical transformation and kick crazy economic ass without borrowing.