And yet he’ll probably die being hated because he was old
Those numbers are the envy of the world. The US under Joe Biden and the Democrats engineered a soft landing from a global economic catastrophe. I wonder if anyone will ever take the chance again. Doing the right thing turned out to be politically suicidal.
The U.S. economy grew at a 3.1% annualized pace in the third quarter — stronger than previously thought, the Commerce Department said on Thursday.
The revision suggests 2024 was yet another shocker year in which the U.S. economy surprised to the upside, as other major nations grappled with sluggish growth.
The revision is an upgrade from the initial estimate of 2.8% growth in the July-Sept. period.
- It largely reflects stronger exports and better consumer spending, offsetting a bigger-than-estimated drag from inventory investment.
The third quarter grew at a slightly quicker pace than the prior quarter, which expanded at a 3% annualized rate.
- A tool developed by the Federal Reserve Bank of Atlanta estimates the economy might be even stronger in the current quarter, with 3.2% growth.
The Fed cut borrowing costs for the third time on Wednesday, but signaled fewer cuts ahead in 2025. One reason: the economy is hanging on while progress on slowing inflation has come to a halt.
- “What we see happening in the economy again is most forecasters have been calling for a slowdown in growth for a very long time, and it keeps not happening,” Federal Reserve chair Jerome Powell told reporters at a press conference on Wednesday.
President-elect Trump will inherit a strong economy. Still unclear is how his proposed policies on immigration, taxes and tariffs will shape growth in the months to come.
Just as he did last time and he’ll seize credit for it. If you ever thought life was fair, think again.
By the way, Democrats are gloomy about the economy, and Republicans are optimistic. I don’t think it’s just pure partisanship on the Dems part. They’re worried about the tariffs, tax cuts and deportation which isn’t irrational. If Trump carries out his plan the risk of killing this economy is very, very high. Of course, he’ll just blame the Democrats so…
Here’s his latest:
Biden is a ghost and the Democrats are nowhere to be found. Everyone knows it’s a GOP shitshow show. Let’s hope most people see the truth.