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The Triumph of Bidenomics!
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<blockquote data-quote="The Barbarian" data-source="post: 77612449" data-attributes="member: 7989"><p>You think 3.2% is runaway inflation? We've located the problem.</p><p>[URL unfurl="true"]https://www.usinflationcalculator.com/inflation/current-inflation-rates/[/URL]</p><p></p><p>The pandemic is over, and the recovery is doing well.</p><p></p><p></p><p>But even in your cherry-picked months, average wages were over $7,000 higher in 2023 than in 2021. </p><p></p><p></p><p>It's not just wages rising faster than inflation. It's also a very low inflation rate and rising GDP. Learn about it here:</p><h3><span style="color: rgb(184, 49, 47)">Why the US economy has powered ahead of other rich nations </span></h3><p><span style="color: rgb(184, 49, 47)"> Not all pandemic recoveries are created equal.</span></p><p><span style="color: rgb(184, 49, 47)"></span></p><p><span style="color: rgb(184, 49, 47)">The world’s richest economies have taken diverging paths in recuperating from the devastating effects of Covid-19.</span></p><p><span style="color: rgb(184, 49, 47)"></span></p><p><span style="color: rgb(184, 49, 47)">At a time when multiple forces and crises — wars, geopolitical tensions, the pandemic’s lingering aftershocks, high inflation and steep borrowing costs — weigh on global growth, there have been few bright spots.</span></p><p><span style="color: rgb(184, 49, 47)"></span></p><p><span style="color: rgb(184, 49, 47)">The US economy is one of them. Gross domestic product in the United States grew at a <a href="http://the US economy is widely expected to grow at a much slower rate in the final months of the year as pandemic savings dwindle and interest rates remain at a 22-year high." target="_blank">remarkable</a> 5.2% in the third quarter, ahead of China, long the engine of global growth.</span></p><p><span style="color: rgb(184, 49, 47)"></span></p><p><span style="color: rgb(184, 49, 47)">“The US has really outperformed relative to other countries for the past year,” Innes McFee, chief global economist for Oxford Economics, told CNN.</span></p><p><span style="color: rgb(184, 49, 47)"></span></p><p><span style="color: rgb(184, 49, 47)">The United States has powered ahead of the European Union, the United Kingdom, Japan, Canada and other advanced economies this year.</span></p><p><span style="color: rgb(184, 49, 47)"></span></p><p><span style="color: rgb(184, 49, 47)">Last month, the Paris-based Organisation for Economic Co-operation and Development became the <a href="https://www.oecd.org/economic-outlook/november-2023/#GDP" target="_blank">latest</a> intergovernmental body to upgrade its forecasts for US growth this year and next, while downgrading the outlook for the 20 countries that use the euro currency.</span></p><p><span style="color: rgb(184, 49, 47)"></span></p><p><span style="color: rgb(184, 49, 47)">That followed similar moves by the Washington-based International Monetary Fund in <a href="https://www.cnn.com/2023/10/10/economy/imf-world-economic-outlook/index.html" target="_blank">October</a>.</span></p><p><span style="color: rgb(184, 49, 47)"></span></p><p><span style="color: rgb(184, 49, 47)">The IMF now expects US GDP to expand by 2.1% this year and 1.5% in 2024 — more than double the growth rates forecast for the UK economy and well ahead of the euro area, which is predicted to grow 0.7% this year and 1.2% next year.</span></p><p>[URL unfurl="true"]https://www.cnn.com/2023/12/07/economy/us-economy-china-europe/index.html[/URL]</p><p></p><p>Just as Trump wasn't wholly responsible for the economic troubles we passed through, Biden isn't entirely responsible for the remarkable recovery; other factors were significant. But ultimately, Trump failed and Biden is successful.</p></blockquote><p></p>
[QUOTE="The Barbarian, post: 77612449, member: 7989"] You think 3.2% is runaway inflation? We've located the problem. [URL unfurl="true"]https://www.usinflationcalculator.com/inflation/current-inflation-rates/[/URL] The pandemic is over, and the recovery is doing well. But even in your cherry-picked months, average wages were over $7,000 higher in 2023 than in 2021. It's not just wages rising faster than inflation. It's also a very low inflation rate and rising GDP. Learn about it here: [HEADING=2][COLOR=rgb(184, 49, 47)]Why the US economy has powered ahead of other rich nations [/COLOR][/HEADING] [COLOR=rgb(184, 49, 47)] Not all pandemic recoveries are created equal. The world’s richest[B] [/B]economies have taken diverging paths in recuperating from the devastating effects of Covid-19. At a time when multiple forces and crises — wars, geopolitical tensions, the pandemic’s lingering aftershocks, high inflation and steep borrowing costs — weigh on global growth, there have been few bright spots. The US economy is one of them. Gross domestic product in the United States[B] [/B]grew at a [URL='http://the US economy is widely expected to grow at a much slower rate in the final months of the year as pandemic savings dwindle and interest rates remain at a 22-year high.']remarkable[/URL] 5.2% in the third quarter, ahead of China, long the engine of global growth. “The US has really outperformed relative to other countries for the past year,” Innes McFee, chief global economist for Oxford Economics, told CNN. The United States has powered ahead of the European Union, the United Kingdom, Japan, Canada and other advanced economies this year. Last month, the Paris-based Organisation for Economic Co-operation and Development became the [URL='https://www.oecd.org/economic-outlook/november-2023/#GDP']latest[/URL] intergovernmental body[B] [/B]to upgrade its forecasts for US growth this year and next, while downgrading the outlook for the 20 countries that use the euro currency. That followed similar moves by the Washington-based International Monetary Fund in [URL='https://www.cnn.com/2023/10/10/economy/imf-world-economic-outlook/index.html']October[/URL]. The IMF now expects US GDP to expand by 2.1% this year and 1.5% in 2024 — more than double the growth rates forecast for the UK economy and well ahead of the euro area, which is predicted to grow 0.7% this year and 1.2% next year.[/COLOR] [URL unfurl="true"]https://www.cnn.com/2023/12/07/economy/us-economy-china-europe/index.html[/URL] Just as Trump wasn't wholly responsible for the economic troubles we passed through, Biden isn't entirely responsible for the remarkable recovery; other factors were significant. But ultimately, Trump failed and Biden is successful. [/QUOTE]
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