The United States has surged back!

Trump Hopes US Economy Will Crash Within the Next Year​

I don't think that Trump's hope for an imminent economic collapse in the U.S. is a promising one.

US economic growth ends 2023 with surprising strength
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The pace of US economic growth slowed in the last three months of 2023, but far less than had been expected, underlining the continued resilience of the economy.​

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The commerce department reported on Thursday that US gross domestic product (GDP) – a broad measure of economic health – grew at an annualized rate of 3.3% in the final quarter of the year, down from 4.9% in the previous quarter but in line with pre-pandemic growth, and well ahead of the 2% economists had expected.

https://www.msn.com/en-us/money/mar...nds-2023-with-surprising-strength/ar-BB1hfuTW​

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Biden's thriving American economy contrasts starkly with Xi's sorry plight:

China’s economy had a miserable year. 2024 might be even worse
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Do not confuse me with someone who wishes Trump well.

 

I merely wish to underscore the recognition that the United States is doing relatively well economically, far better than what many predicted and some hoped for.

 

And yet:
Direction of Country Newsnation
Right Direction 23, Wrong Track 66
Wrong Track+43

 

I never claimed that propaganda is ineffective.

I merely cite the empirical data.

 

Looks like China is out as the most favored nation for manufacturing and India is in....

 

It is quite possible for economic indicators to be positive and for the country simultaneously to be on the wrong track.

 

It is also possible for the economy to be demonstrably quite good and for many in the public to believe otherwise.

 

It's smoke and mirrors, gas lighting, GDP statistics is like taking a person's temperature to detect cancer. The Federal Reserve can pump the money supply up, or if convenient bring it down. No systematic economic problems have been solved, but the fascist Neo-liberal finance capitalism project progressing stronger than ever constructing a privatized rent seeker toll booth economy in health care, education, water, utilities, housing. The rent Seekers have jettison industrial capitalism, for financial capitalism allowing monopolies creating rent opportunities and de-industrializing by taking over a factory with bank loans, break up the target factory stripping its assets, and remove taxes on economic rent. The end resulting is feudalism. Economist Michael Hudson said in the video below:

"...this post-industrial capitalism has sort of created a new idea of Economics as its advertising uh public relations effort. And this
neoclassical anti-government economic says any that the ideal of any economy is to make money quickly as it is measured in financial form.
And what we're seeing today in the United States is a huge upsweep in the financial wealth of the 1% of the population while the 99% of the population is running into debt.

So, if you read the newspapers in the United States these days it's all about why don't Americans realize what a wonderful thing that President Biden has done. The economy is doing wonderfully. Why do people say it's not doing wonderfully? Why are they so unhappy with the economy?

Well, the reason is it depends on whose economy that you're talking about. Are you talking about the economy for the 1% or the economy for the 99%? And the 1% are making money so rapidly at the expense of the 99% that overall wealth is actually going up and so people think that the economy is doing good, but it's a very polarized concentrated economy,
just the opposite of what industrial capitalism aimed at."

How Finance Capitalism Ruined the World - Dr. Michael Hudson & Dr. Steve Keen, DSPod 203
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Trumpy propaganda and hopes for the nation's collapse aside, objective metrics confirm that the United States and most Americans are doing rather well economically.

The unemployment rate in the United States held at 3.7% in December 2023

Trump says those good jobless numbers aren’t ‘real’ (they are)

Inflation slows, incomes rise, and Americans are much more optimistic about the economy

Incomes are rising in America, especially for the poorest

U.S. consumer confidence hits 2-year high ​

 

Yes. That's why we have elections.

 

True. Empirical data can be overcome by ideological dogma.

 

A bit more empathy would point to a better answer: people feel the situation differently depending on their circumstances.

 

That too.

 

I think there is lot of truth in that. Certain media outlets will have people believing things have never been so bad and the country is in dire need of a savior, but when you look around or when you look at the economic indicators, things aren't that bad. With another politician in the WH and the media putting on the opposite spin, the same people would be thinking things have never been so good. I've never seen anything like it. Never seen people be played like that, and IMO the social media plays a huge part in it.

I have made it clear I support Nikki Haley, but when her name is mentioned people always react by saying she is 'establishment', or 'warmonger' or 'in the pockets of big industry' or 'supported by Dems'. I ask what makes them say that, and there is no answer. However, when you turn on FOX, you'll know EXACTLY why they say it, because those thing are repeated to no end on that channel and other RW MSM outlets.

 

Empirical data does not have a chance against ideological dogma for some folks.

Still, Trump's hoping for America's economic collapse and sabotaging bipartisan border security progress shows that reality still matters. He does not want the nation's interests served while Biden is President.

Trump Says He Hopes Any Economic Crash Happens in 2024

'Immoral': Some Republicans rebuke efforts to kill immigration deal to help Trump

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Here's an example.
News·NY Post
VideoCBS anchor admits he could not find a single person outside of New Hampshire grocery store who feels 'good about the economy'

 

https://www.cnn.com/2023/09/07/business/us-economy-biden-approval/index.html

 

Not disputed.

 

Still looking good.

... The nation’s employers delivered a stunning burst of hiring to begin 2024, adding 353,000 jobs in January in the latest sign of the economy’s continuing ability to shrug off the highest interest rates in two decades.

Friday’s report from the Labor Department showed that last month’s job gain topped the 333,000 that were added in December, a figure that was itself revised sharply higher. The unemployment rate stayed at 3.7%, just above a half-century low.

The latest gains far exceeded expectations and showcased employers’ willingness to keep hiring to meet steady consumer spending...

[https://www.politico.com/news/2024/02/02/employers-jobs-january-00139279]

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Biden's relentlessly thriving economy is reluctantly being acknowledged, even by Trump's Chief Economic Advisor:

Former Trump economic advisor Larry Kudlow conceded that his prediction of a looming recession was wrong and admitted that the U.S. economy is doing much better than expected under President Joe Biden.

Talking on Fox News' America Reports on Thursday, Kudlow offered a "mea culpa."

"I was wrong about the slowdown and the recession. So was the entire forecasting fraternity," Kudlow, now a Fox Business Network host, said.

The Bureau of Economic Analysis' report on January 25 showed that the country's gross domestic production grew beyond expectation by 3.3 percent in the last quarter....

[https://www.msn.com/en-us/money/mar...es-joe-bidens-economy-i-was-wrong/ar-BB1hEwKj]​

 

With $34 trillion in debt and raising fast, claiming our economy is good seems a little disingenuous.

With massive government outlays for yet more wars while millions of Americans live in poverty or near poverty, claiming the economy is good seems a bit like ignoring the elephant in the room.

 

It’s all smoke and mirrors.

In fact, the leaders of the ostensibly conservative party as so busy trotting the globe searching for monsters to destroy and overseeing bases, invasions, occupations, interventions and incessant meddling around the four corners of the planet that they have no time, energy or political capital for their true mission in American democracy. To wit, to function as the ferocious and ever-vigilant Watchdog of the people’s money. So with the old-time fiscal religion of balanced budgets abandoned, the GOP has morphed into the Washington War Party and fund-raising machine for beltway RINOs.

At the same time, pro-Welfare State Dems happily supply the votes for obscenely bloated national security budgets and periodic increases in the public debt limit in order to keep the Welfare State accounts and the various domestic pork barrels safe from the fiscal axe.
https://www.lewrockwell.com/2024/02...-public-debt-spawn-of-war-welfare-and-wampum/

 

Actually, it's the empirical reality acknowledged by objective economists, regardless of their political predispositions.

Former Trump Advisor Praises Joe Biden's Economy: 'I Was Wrong'​

Ideologues may not like it, of course.

 

THE GREAT REFUSAL

Biden is setting you up to fail.

Biden is setting you up to fail.

Biden is setting you up to fail.

He doesn't care about you any more than he does for Palestinians.

The Democratic leadership will continue to RAPE YOU daily until you stop enjoying it.

No Jesus will do it for you, no corrupt politicians will do it for you.

It's all on you!

"Reification is, then, the necessary, immediate reality of every person living in capitalist society. It can be overcome only by constant and constantly renewed efforts to disrupt the reified structure of existence by concretely relating to the concretely manifested contradictions of the total development, by becoming conscious of the immanent meanings of these contradictions for the total development. But it must be emphasized that (1) the structure can be disrupted only if the immanent contradictions of the process are made conscious...If the proletariat [person without property] fails to take this step the contradiction will remain unresolved and will be reproduced by the dialectical mechanics of history at a higher level, in an altered form and with increased intensity. It is in this that the objective necessity of history consists.
The deed of the proletariat can never be more than to take the next step [60] in the process."
--(History and Class Consciousness, Georg Lukacs, p. 197)

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