trump's White House’s Director of the National Economic Council admits on fox he was wrong about the Biden economy

[butters]

“Mea culpa,” said Kudlow, who has an extensive financial background including being the chief economist and senior managing director for Bear Sterns, the once powerful but now-defunct investment bank.

“I was wrong about the slowdown and the recession,” Kudlow continued. “So was the entire forecasting fraternity.”

“I don’t think you were wrong,” a Fox News on-air host responded.

“The Fed, everyone was wrong,” Kudlow insisted.

lol @ the fox mouthpiece, and how kudlow tries to blame everyone else for his own lack of foresight.
you know who wasn't wrong? the economic team under President Biden who planned for, and achieved, the post pandemic 'soft-landing' they touted but were loudly shouted down for by all the trump-leaning panic-mongers selling drama to their base

“The United States economy grew faster than any other large advanced economy last year — by a wide margin — and is on track to do so again in 2024,” Axios reported Wednesday. “America’s outperformance is rooted in its distinctive structural strengths, policy choices, and some luck. It reflects a fundamental resilience in the world’s largest economy that is easy to overlook amid the nation’s problems.”

https://www.msn.com/en-us/money/mar...1&cvid=cd3ff79be69348d2895e8275f92a84d6&ei=79

 

[butters]

more, from https://www.alternet.org/trump-advisor-biden-economy/

"We had a blowout jobs report, more than twice the consensus expectation [of 180,000 projected jobs added]," Kudlow said on Fox Business on Friday afternoon. "I know that many of my conservative friends are trying to drill holes in this report. But you know what, folks? It is what it is. It's a very strong report. Not every economic stat should be viewed through a political lens."

"I've been in this business a very long time, and sometimes you just need to throw away the ballot box and recognize the numbers," he added. "This was a very strong report."

Kudlow pointed to several other factors in the jobs report that pointed to a strong economy, like an increase in the rate of productivity (output per hour) and wage increases being higher than expected for Americans. The January jobs report showed a three-month increase of 4.5% in inflation-adjusted (real) wages.

"Typical working families got a nice, real, wage boost," Kudlow said.

trump's gonna be P.I.S.S.E.D! bigly

 

[Lazaran]

I love this ^ !!!

All of it !!!

 

[Bray123]

Before and after...
It's only MAGA lies, nothing new.

 

[adrina]

You would think considering how much trumpers (the GOP and conservatives) bitch about Biden and the democrats, they'd be in here to address this.

Who am I kidding. We all know they will ignore this and continue spreading their propaganda.

 

[MajorRewrite]

I am happy the US economy is so strong. It’s something the entire nation should be able to celebrate.

 

[Rightguide]

Yes, the economy grew but the bottom line is wages aren't rising as fast as prices. So still it sucks for many people.

 

[DeluxAuto]

wages aren't rising as fast as prices

Gas is dropping and wages are going up. What the fuck is the matter with you?

But, please, keep crying about not being able to afford a Happy Meal because min. went to $15/hr.

 

[Bray123]

Minimum wage is still locked at pre-historic levels due to those people who earn vastly higher amounts whilst avoiding taxes pay money (bribe) politicians to be inactive.

Then alt-rights try to blame Democrats.

 

[MajorRewrite]

Yes, the economy grew but the bottom line is wages aren't rising as fast as prices. So still it sucks for many people.

Wages are growing faster than prices.

Janet Yellen:

Real wages have risen from their pre-pandemic levels—especially quickly for middle-income households. And because wages have risen more than prices, middle-class Americans now have more purchasing power. New Treasury analysis shows that a worker earning the median wage can today buy the same goods and services as in 2019, with nearly $1,400 left over to save or spend. And families are now putting their extra income and their accumulated pandemic-era savings back into the economy.

Put simply, it’s been the fairest recovery on record. We see this in gains not only for middle-class Americans but also across demographic groups, such as the rapid decline in unemployment rates for Black and Hispanic Americans. There are gains across the country, too. Before the pandemic, the unemployment rate was nearly 20 percent higher in rural than in metropolitan areas. That large gap has been eliminated.

We don’t need to invent a counterfactual. We can see it outside the United States. The U.S. has seen a particularly strong GDP recovery and inflation has cooled sooner and more quickly than in other large, advanced economies. And the increase in real wages is unique to our country’s recovery: in other economies, real wages have declined since 2019.

Real Americans are happy when our country prospers.

 

[IrezumiKiss]

Yes, the economy grew but the bottom line is wages aren't rising as fast as prices. So still it sucks for many people.

Is this that "hoeflation" that made you pee your panties last week?

 

[ByteMe13]

It was the cocaine talking

 

[Sean Renaud]

Yes, the economy grew but the bottom line is wages aren't rising as fast as prices. So still it sucks for many people.

Actually we'll need to wait a full year but if things keep at this pace wages will be rising faster than prices for the first time in a very long time and I suspect it will do just that.

 

[Lazaran]

Is this that "hoeflation" that made you pee your panties last week?

OK, that ^ WAS a water spitter.

 

[beckiefalwell]

Is this that "hoeflation" that made you pee your panties last week?

Oh snap!