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Comments by "" (@pwillis1589) on "Workers the big winners as US economy emerges from COVID-19" video.
Actually it is. US GDP has been solidly growing at around 2.5% for about ten years, it took a hit due to covid but bounced back strongly and in the last quarter was a good 4.3%. Inflation is a concern though. This data is easily available and is common public knowledge. GDP is the standard by which all countries measure their economy.
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@kam I make no comment on the future of humankind or the state of the planet I just state the economic facts.
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@kam I would not describe economic data as perfect, it is just what is is, knowledge. A simple browse through the US Dept of Commerce Bureau of Economic Analysis reveals this data, I again make no comment on the future of the planet only the simple fact that the US economy is growing, in the last two quarters by 4.3% and 6.4%.
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The Reserve can increase interest rates and reduce the money supply by modifying its QE to quickly reduce inflation, its not rocket science.
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Actually US GDP was over 4% in three quarters during the 8 years of the Obama administration and averaged 2.7%. Under the first three years of the Trump administration GDP never got over 4% and averaged 2.5%. Your statement just doesn't match up with the common knowledge facts. While under Trump the economy grew quite well it also did under Obama this is just the reality of reading the economic data. Obviously the two quarters last year that were negative due to Covid were bad but under Trump the last quarter of 2020 things bounced back.
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The US hasn't run a balanced or surplus budget since Clinton 20 years ago, where is exactly is it going?
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The reserve bank ran QE right through the four years of the Trump administration and previous to that the Obama administration, inflation is a concern but it is hardly Bidens fault. Did you have the same concerns when Trump was printing money?
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