Posted on 09/04/2023 5:16:33 AM PDT by CFW
President Job Biden’s story about the success of Bidenomics just keeps shrinking.
The Labor Department has consistently overestimated payroll growth predictions under the 46th president and has been forced to revise the data downward to reflect slower economic growth throughout 2023.
In addition, the Commerce Department significantly revised economic growth downward, dropping last quarter’s Gross Domestic Product by three-tenths of a point from 2.4% to 2.1%.
Experts say the administration’s overly positive economic predictions — especially on jobs — are masking the growing discomfort that every day Americans feel from inflation and rising interest rates.
“The labor force participation rate is the story there. I think it's really because people really are running out of money basically to afford living,” said Alfredo Ortiz, the head of the Job Creators Network, small business lobby.
(Excerpt) Read more at justthenews.com ...
If you are interested in reading the basic economic news and numbers for both the U.S. and other countries below are links that provide that information.
https://tradingeconomics.com/calendar
https://tradingeconomics.com/stream
LOL! And that is what is so scary!
I’ll take corrupt for $200, Alex...
Nearly every month, every number like this one and the jobs report is released, then crowed over and then quietly revised downward.
Not sure we have any accurate numbers for anything anymore.
They’re doing what they did in the Obama days: rosey-glo economic data, then a couple of weeks later, REVISED DOWNWARD!
I remember it well. But will the media remember?
And we’re stuck in that glued-sewer pipe with him!
Better news from the White House...
The chocolate ration has been increased from 30 to 20 grams per week.
the Fed has raised interest rates on purpose to slow down the economy and it always goes too far. In this case, high oil prices which are a result of Biden’s war on fossil fuel & war, has driven up consumer prices, and the Fed should not interfere with markets in thinking by raising interest rates , it can fix a problem that’s not a problem unless one does not share Biden’s globalist view about climate change and green energy. Once demand for oil falls significantly, oil producers will just keep cutting production to keep prices from falling, while meanwhile back in the states, we will suffer a crash and recession. And what will the Fed do when that happens? They will allow more inflation & cut interest rates as budget deficits soar as government spending increases, then politicians from both parties will urge tax cut or more spending and even BIGGER deficits to get us out of recession.....ie, cause even MORE inflation. So really, what is the point of raising rates so high it already is killing small business and the little guy. Powell and the Fed really should just tell people that the inflation is market driven and policy driven and the politicians need to fix the deficit. The Fed has a dual mandate to avoid recessions, not cause them.
Choco rations going up 25 grams next week.
Double-plus good, eh?
https://www.youtube.com/watch?v=ciD6G_bT1Ps
1984 brought to you by the DNC
Gene Epstein who used to be economics editor at Barron’s wrote a book called “Econo spinning” about how unsound is economic reporting in the news.
He pointed out that we really have no idea how many jobs are created each month because the numbers always are within the statistical margin of error, ie, zero to 500,000 jobs against something like 50 million total employment.....so in fact, we could already be losing jobs, with the Fed already behind the curve.
The really sad fact is that America’s GDP isn’t really a ‘product’ anymore, unless you want to consider the importation of foreign nationals (yes, those ‘migrants’) to become future Democrat voters. Voters who are schooled on the myriad of ways they can rape this country of its blood, sweat and tears.
Amazing how when Trump was in office they were always adjusting economic data upward after the news reported..
The Brandon administration. They release false good news stats for their toads in the Dung Beetle “media” and then after all of the praise is over and the gullible U.S. public has been buffaloed, they come back and correct them to the actual bad news stats.
I’m surprised that they ever revise any of their “accomplishments” downward. Whatever the original BS number was, it was never going to questioned by the government lackeys in the media. Whatever the new number is, it’s a lie as well. Why acknowledge the already successfully peddled lie is false only to have to peddle the new lie?
report things are rosy the scumedia will regurgitate
“Amazing how when Trump was in office they were always adjusting economic data upward after the news reported.”
And the economic data was always presented as “the worst ever” and evidence of an awful economy.
Slower economic growth is intended. In the confused minds of the administration’s economists, it is necessary to stop the economy in its tracks in order to halt inflation.
An intelligent economist would have known that the way to halt monetary inflation is to stop issuing dollars that have no backing. (Milton Friedman said it, not me).
Oh, that one is easy. By dropping the original number they have room for the next lie.
For example, the new jobs report. If they say 5 million new jobs, then revise it to zero, the next month they can say 5 million again. If they didn't revise, eventually someone might notice that we have created more jobs than there are people on the planet.
Not that any media would do the math and publish. . .
This is a lie. The fuel price increases started a full year before the Ukraine war. That’s a verifiable fact. Biden’s frist act the first day in office was to shut down the Keystone pipeline. Buden has bern at war with petroleum and gas since day one.
Because you’ve deliberately lied, I wonder who you’re shilling for? Is Soros paying you to deliberately misinform?
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