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(NPR)   The failed Biden admInistration has only produced the highest economic growth in 38 years   (npr.org) divider line
    More: News, Unemployment, Inflation, Federal Reserve System, Central bank, Economics, Economy, Economic growth, Monetary policy  
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1952 clicks; posted to Politics » and Business » on 27 Jan 2022 at 9:02 AM (17 weeks ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook



267 Comments     (+0 »)
View Voting Results: Smartest and Funniest


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2022-01-27 9:03:18 AM  
LOCK HIM UP!!!!   LOCK HIM UP!!!!    LOCK HIM UP!!!!    LOCK HIM UP!!!!    LOCK HIM UP!!!!
 
2022-01-27 9:03:46 AM  
Yeah but why hasn't he fixed the moon?
 
2022-01-27 9:03:54 AM  
And it won't matter because half the population jerks off to white supremacists on Fox News, Facebook, and hate radio and no one cares.

"Free speech" will kill this country.
 
2022-01-27 9:04:02 AM  
That's great, but..
*checks stock market*
... I guess it really doesn't have anything to do with the economy.
 
2022-01-27 9:04:08 AM  
Omg they said 1984 everyone panic achhwhahhhh
 
2022-01-27 9:04:42 AM  
Imagine what could be done if the GOP weren't....well. If they weren't the GOP
 
2022-01-27 9:04:44 AM  
Yeah but the stock market is doing terrible this month, so 2020 is invalid.
 
2022-01-27 9:04:46 AM  
Growth for whom?
 
2022-01-27 9:05:07 AM  
Ugh inflation makes the numbers go up. Even without it, if there wasn't significant growth after 2020 and 2021 then we'd all be living in huts down by the polluted river.
 
2022-01-27 9:05:20 AM  
Tonight on CNN: 3 commentators discuss why this is a disaster for Biden and the Democrats in 2022
 
2022-01-27 9:05:41 AM  
WHAR STUDENT LOAN WHAR!
 
2022-01-27 9:05:46 AM  
But he's ramming these voting rights things down my throat.
 
2022-01-27 9:05:47 AM  
Joe Bi-Reagan
 
2022-01-27 9:06:01 AM  
Biggliest ever!
 
2022-01-27 9:06:35 AM  
During a pandemic
 
2022-01-27 9:06:44 AM  
It really won't matter if people don't see it in their pocket books. Elon Musk and Jeff Bezos getting richer doesn't help people. Now, Biden did not cause that, that was set up a long time ago. But he's going to take blame if he can't get that wealth to people who need it - rightly or wrongly, fairly or unfairly, he's going to take the brunt of the actions of his predecessors.
 
2022-01-27 9:07:06 AM  
The GDP is going up, but workers and small businesses are still hurting.  That just shows the disconnect between economists and real people.
 
2022-01-27 9:07:08 AM  
Yeah, but what is Biden doing to address the labor shortage? Huh?

Yesterday I had a meeting with some of our European suppliers, and they said they had to raise their prices by 14% in the last year and ocean freight has increased 7x in that same period.

Why hasn't Biden fixed these kind of price increases?

I'm seriously asking this seriously, because I am a serious person with serious concerns.
 
2022-01-27 9:07:47 AM  

AdmirableSnackbar: Growth for whom?


Fark user imageView Full Size

Obviously not you, penniless hippie.
 
2022-01-27 9:08:16 AM  

AdmirableSnackbar: Growth for whom?


People with jobs/careers. Should try it sometime.
 
2022-01-27 9:08:34 AM  
Die for the economy!!
 
2022-01-27 9:08:36 AM  
But what about my $2,000 check?
 
2022-01-27 9:08:43 AM  

NM Volunteer: The GDP is going up, but workers and small businesses are still hurting.  That just shows the disconnect between economists and real people.


Think about the record profits to our betters coming from price gouging during a pandemic.
 
2022-01-27 9:09:05 AM  

AdmirableSnackbar: Growth for whom?


Exactly.

This news is meaningless for people holding on by their fingernails. Great growth doesn't translate to higher wages.
 
2022-01-27 9:09:13 AM  

Skleenar: Yeah, but what is Biden doing to address the labor shortage? Huh?

Yesterday I had a meeting with some of our European suppliers, and they said they had to raise their prices by 14% in the last year and ocean freight has increased 7x in that same period.

Why hasn't Biden fixed these kind of price increases?

I'm seriously asking this seriously, because I am a serious person with serious concerns.


Then you are clearly on the wrong forum.  We don't address serious concerns here at Fark.  It's in the bylaws.  Moose out front should have told you.
 
2022-01-27 9:09:23 AM  
Economic growth, denominated in your own currency, which is driven by inflation?

If that were the gold standard, you should check out Weimar, Venezuela, or Zimbabwe.
 
2022-01-27 9:09:32 AM  

Gaddiel: That's great, but..
*checks stock market*
... I guess it really doesn't have anything to do with the economy.


All the stock market tells you is how a relatively small group of people feel on a given day.

/but once you learn the rules, the odds are better than blackjack.
 
2022-01-27 9:09:53 AM  
Thanks Brandon!
 
2022-01-27 9:10:20 AM  
Don't get too excited. A low base makes for an artificially high growth number. Same thing happened under Obama, looking back. It's almost like republican presidents leave a smouldering mess of an economy behind for democratic presidents to fix or something.
 
2022-01-27 9:10:35 AM  
Good thing we didn't shoot our selves in the foot with tariffs before a pandemic and slash interests rates to juice numbers.
 
2022-01-27 9:10:50 AM  
Wages ONLY increased 4.7%, but have you seen the price of peanut butter?  Clearly, these economists do not go to the grocery store.  These economists are too busy riding around in limousines and drinking champagne with their research scientist friends.
 
2022-01-27 9:10:53 AM  

neongoats: AdmirableSnackbar: Growth for whom?

People with jobs/careers. Should try it sometime.


Not everyone wants to fellate corporate America.

But you're a good little robot so you deserve it.
 
2022-01-27 9:12:05 AM  

ColonelCathcart: Economic growth, denominated in your own currency, which is driven by inflation?

If that were the gold standard, you should check out Weimar, Venezuela, or Zimbabwe.


Good point. All of these offshore products that are increasing in price, we have to buy in dollars, too. .
 
2022-01-27 9:12:19 AM  
In 2016, after Trump won, my conservative coworkers told me "oh, just wait until he gets the economy going! You've never seen it, 5% growth, it's going to be amazing. Just wait"

Well we never saw +5 percent in the Trump years, we did see -5, and that particular coworker commited suicide a few months after the pandemic started, so I can't rub it in their faces.

But we did it! 5% growth guys! It didn't feel as amazing as you said it would.
 
2022-01-27 9:12:39 AM  
BUT SHELVES ARE BEARS!!!
 
2022-01-27 9:12:53 AM  
Yay.  We're saved.
 
2022-01-27 9:12:53 AM  

Gaddiel: That's great, but..
*checks stock market*
... I guess it really doesn't have anything to do with the economy.


But, but, but, Botcoin is down.
Oops, my abject typo, "Bitcoin".
 
2022-01-27 9:13:22 AM  

ColonelCathcart: Economic growth, denominated in your own currency, which is driven by inflation?

If that were the gold standard, you should check out Weimar, Venezuela, or Zimbabwe.


Exactly.  If these economists are so smart, then how come they haven't controlled for that?  I bet they're crying into their caviar right now wondering why they spent years studying economics when laymen like us could just walk in and destroy their entire careers.
 
2022-01-27 9:13:55 AM  

ColonelCathcart: Economic growth, denominated in your own currency, which is driven by inflation?

If that were the gold standard, you should check out Weimar, Venezuela, or Zimbabwe.


The 5.7% number is "Real GDP growth". "Real" in econ-speak means it's already adjusted for inflation.

encrypted-tbn0.gstatic.comView Full Size
 
2022-01-27 9:14:02 AM  
Coming back from lockdowns doesn't count as organic growth.  We still have not returned to pre-pandemic labor participation rates.
 
2022-01-27 9:14:05 AM  

The Brains: neongoats: AdmirableSnackbar: Growth for whom?

People with jobs/careers. Should try it sometime.

Not everyone wants to fellate corporate America.

But you're a good little robot so you deserve it.


sponge-like typing detected
 
2022-01-27 9:14:10 AM  

neongoats: AdmirableSnackbar: Growth for whom?

People with jobs/careers. Should try it sometime.


fark off
 
2022-01-27 9:14:12 AM  

Skleenar: Yeah, but what is Biden doing to address the labor shortage? Huh?

Yesterday I had a meeting with some of our European suppliers, and they said they had to raise their prices by 14% in the last year and ocean freight has increased 7x in that same period.

Why hasn't Biden fixed these kind of price increases?

I'm seriously asking this seriously, because I am a serious person with serious concerns.


I've read that inflation is due to greedy meat packers in the US.  What that has to due with inflation in Europe, I don't know, but then again, I'm not an Ivy League educated Senator.
 
2022-01-27 9:14:16 AM  
Yes, if it wasn't for Biden we'd have no growth at all! 🙄

"Even though last year's economic growth was the strongest in decades, it fell short of what economists initially hoped for. At the beginning of last year, some forecasters thought the combination of widespread vaccinations and pent-up demand would fuel an even stronger boom, with GDP growing as high as 7%."
 
2022-01-27 9:14:34 AM  
I don't want to sh*t on everyone's parade... but comparative economic numbers are quite meaningless right now. We had record lows, followed by record highs as everything was and is so f*cked up.

BUT! Thankfully, no one listens to me so belt it from the rooftops and make everyone happy :)
 
2022-01-27 9:14:35 AM  

Rapmaster2000: Wages ONLY increased 4.7%, but have you seen the price of peanut butter?  Clearly, these economists do not go to the grocery store.  These economists are too busy riding around in limousines and drinking champagne with their research scientist friends.


Fark user imageView Full Size
 
2022-01-27 9:15:32 AM  

Arkanaut: ColonelCathcart: Economic growth, denominated in your own currency, which is driven by inflation?

If that were the gold standard, you should check out Weimar, Venezuela, or Zimbabwe.

The 5.7% number is "Real GDP growth". "Real" in econ-speak means it's already adjusted for inflation.

[encrypted-tbn0.gstatic.com image 276x182]


Yeah, but they're not measuring the REAL inflation which is way higher.  They need to measure the "Real REAL GDP growth."
 
2022-01-27 9:15:39 AM  
Given what happened in 2020, it would have been surprising if grow was not very high in 2021.

Admittedly Trump's policies would have and probably are going to fark us economicly in the long term.

And growth would have been even higher if the 99% of the population who lack an actual medical reason not to be vaxxed had manned (or womanned) up and got their shots, washed their hands frequently, and wore a mask. That is on the conservatives.
 
2022-01-27 9:15:58 AM  

Rapmaster2000: ColonelCathcart: Economic growth, denominated in your own currency, which is driven by inflation?

If that were the gold standard, you should check out Weimar, Venezuela, or Zimbabwe.

Exactly.  If these economists are so smart, then how come they haven't controlled for that?  I bet they're crying into their caviar right now wondering why they spent years studying economics when laymen like us could just walk in and destroy their entire careers.


There is no way the economy grew the fastest in real terms since the pandemic, and if it did that's only because March 2020 there was a massive, deep, temporary contraction offset by trillion of helicopter money.
 
2022-01-27 9:16:21 AM  
FOX: The Economy is overheating! and Why A Good Economy Is Bad And It Is All Biden's Fault. and There is nowhere to go but down now!
 
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