Economy when Reagan-Bush ran #MorningInAmerica reelection ad:
• Unemployment 7.3%; Inflation 4.3%
Economy today under the Biden-Harris #GreatAmericanComeback:
• Unemployment 4.1%; Inflation 3.0%
economy
#Layoffs accelerated in October, pushing 2025 job cuts to levels typically seen in a #recession, acc/to newly released data from Challenger, Gray & Christmas, a private firm that tracks workplace reductions.
#US employers have announced 1.1 million layoffs so far this year — the largest reading since the pandemic recession & on par with 2008 & 2009 job cuts during the Great Recession, the firm’s figures show.
#economy #Trump #tariffs #inflation #trumpcession
https://www.washingtonpost.com/business/2025/11/06/job-cuts-accelerate-october-layoffs-trump/
Edited 7d ago
Trump’s support among voters is fading fast, but Congressional Republicans refuse to acknowledge their peril, as they succumb to nearly all of his demands.
⚡️”The gap between voters saying their vote is anti-Trump and those saying it’s pro-Trump is larger than ever.
It’s also the largest such gap since 2006.”
-A Blake
#DementiaDon #Fascism #TrumpShutdown #Shutdown #Trumpcession #Economy #NoKings #Sadism #Protest #USPol
https://www.cnn.com/2025/11/08/politics/anti-trump-vote-virigina-new-jersey
Edited 5d ago
"You get more conservative when you get older" only really worked for the generations that got RICHER as they got older.
The real truth was always just "You get more selfish the more money you have".
#conservative #conservatives #conservatism #economics #economy #politics
POST-ELECTION ECONOMIC NEWS:
ADP's latest private-sector jobs report was released this morning, and the numbers help explain why voters are so worried about the economy and why they went so heavily Democratic last night.
Job growth has collapsed under Trump's tariffs.
JOBS REPORT: The Great American Comeback Continues
• 15.9 million jobs added since Trump left
• Much lower unemployment than Morning in America in 1984
• Employment for prime-working-age Americans at a 23-year high
Bloomberg: US consumer confidence rose to a six-month high in August as more upbeat views of the #economy and inflation offset waning optimism about the labor market.
The Great American Comeback with Biden-Harris:
• Nearly 16 million jobs added
• Stock market keeps hitting record highs
• Strongest post-pandemic GDP growth in the world
• Much lower unemployment & inflation than Reagan in 1984
• Employment for prime-working-age Americans at a 23-year high
Trump Agenda: Himself and His Rich Friends
Harris Agenda: Working Americans and Middle Class Families
Vote accordingly
#Election2024 #Economy #Freedom #USPol #USPolitics #Harris #KamalaHarris #Democrats #Trump #MAGA #Republicans #Abortion #RoeVWade
#Walmart's announcement today that it plans to raise #prices is expected to open the floodgates for #retail price hikes.
The world's largest retailer—whose brand is inextricably linked to low prices & affordability—said despite the #China #trade deal earlier this week it is too late to avoid higher #costs for #consumers.
#Trump #tariffs #economy #inflation #recession
https://www.axios.com/2025/05/15/walmart-store-prices-trump-tariffs
Edited 182d ago
Here’s a top pin!
My #market-based, publicly underpinned model for determining copyright liability payments in real-time for an information economies with #AI #scraping.
We have a choice of either a healthy #economy where being scraped pays those who produce the best information, or no economy at all where only lies, propaganda & bs are openly visible.
We can avoid creatives hiding their content behind closed doors our of fear of being scraped, but only if we act now!
https://docs.google.com/document/d/18cz-ZX1copCYiC4C2ReY8GLJjuhG2IH0MEBGaoSJhP4/edit
Edited 1y ago
The hallmark of genius? Benefiting yourself and others.
The hallmark of idiocy? Failing at both simultaneously.
Ridiculous who elected #ElonMusk anyway?
The highest-ranking career official at the #TreasuryDepartment is departing after a clash with surrogates of #billionaire Elon #Musk’s #DOGE who sought access to sensitive payment systems.
#law #Treasury #economy #USpol #FederalAgencies #kleptocracy #plutocracy #broligarchy #tyranny #autocracy
https://www.washingtonpost.com/business/2025/01/31/elon-musk-treasury-department-payment-systems/
Nvidia alone is responsible for 11% of US GDP. There are approximately 20,000 corporations with >500 employees in the US.
This is not a healthy economy.
#AI #GenAI #GenerativeAI #NVIDIA #bubble #AssetBubble #economy
This is not a healthy economy.
#AI #GenAI #GenerativeAI #NVIDIA #bubble #AssetBubble #economy
Brazil's GDP could shrink 16% with end of 6-day workweek, says industry federation
#politics #brazil #economy
https://valorinternational.globo.com/economy/news/2025/04/22/gdp-could-shrink-16percent-with-end-of-6-day-workweek.ghtml?utm_source=Twitter&utm_medium=Social&utm_campaign=compartilhar
More proof this is entirely unnecessary & serves #Trump’s interests alone.
• Distract you from his many other #illegal activities, his ineffectuality geopolitically, & his tanking of the #economy.
• Finally achieving his long coveted goal of creating an #authoritarian #MilitaryState in which no one is allowed to criticize him or even say they don’t like him.
#law #PosseComitatusAct #democracy #RightToProtest #Gestapo #California #NationalGuard #Marines #immigration
https://apnews.com/live/immigration-protests-los-angeles-6-11-2025#00000197-5f9b-d663-a5f7-5f9b5dcd0000
The Atlanta Federal Reserve Bank's GDP Now is estimating 2.8% GDP decline in the 1st quarter of 2025 and the 1st month of Trump's presidency.
I'm not a GDP growth at all costs person--I believe we have no choice but to stop the mad obsession with making that number go up--but I do think it's important to note that GDP was growing relatively rapidly (by modern standards) through the end of 2024. This change marks a significant turnaround that looks like it might erase a quarter's worth of growth and then some. Official data release is March 27. I suppose we shouldn't be surprised that an administration whose only policy thus far has been to inflict pain on people would inflict economic pain as well.
2 quarters of this is a recession and 4 quarters of this is a depression by conventional metrics.
#USPol #USEconomics #economy #GDP
I'm not a GDP growth at all costs person--I believe we have no choice but to stop the mad obsession with making that number go up--but I do think it's important to note that GDP was growing relatively rapidly (by modern standards) through the end of 2024. This change marks a significant turnaround that looks like it might erase a quarter's worth of growth and then some. Official data release is March 27. I suppose we shouldn't be surprised that an administration whose only policy thus far has been to inflict pain on people would inflict economic pain as well.
2 quarters of this is a recession and 4 quarters of this is a depression by conventional metrics.
#USPol #USEconomics #economy #GDP
Even #trump knows how badly he messed up.
He had a press conference, answered ONE QUESTION then buckled under the pressure of the questions being asked, all of them bad, and ran away.
Then he flew to Maro Lago and is GOLFING after destroying our #stockmarket after saying EVERYTHING'S FINE!
Reminds me of the meme of the dog in the burning house saying the same. Except it's real, the house is the #usa and it isn't funny.
Edited 224d ago
How DOGE’s Cuts to the IRS Threaten to Cost More Than DOGE Will Ever Save
—
The Trump administration claims gutting federal agencies will save money, but cutting the IRS means the government collects less taxes. “If you’re interested in the deficit and curbing it, why would you cut back on the revenue side?” one expert asks.
https://www.propublica.org/article/how-doge-irs-cuts-will-cost-more-than-savings-trump-musk-deficit?utm_source=mastodon&utm_medium=social&utm_campaign=mastodon-post
#News #DOGE #Trump #IRS #Federal #Government #Economy #USPolitics
#OTD in 1776.
Scottish political economist Adam Smith's book The Wealth of Nations, the first modern work in economics, was published.
It has become a fundamental work in classical economics, and has been described as "the first formulation of a comprehensive system of political economy".
https://en.wikipedia.org/wiki/The_Wealth_of_Nations
Wealth of Nations at PG:
https://www.gutenberg.org/ebooks/3300
BREAKING:
Jobs report shows a MAJOR SLOWDOWN in labor market since Trump announced tariffs in April.
We can now compare the first 6 months of Trump with the final 6 months of Biden, and it's no comparison.
Over a million jobs created under Biden, less than half that under Trump.
#Trump #Recession #Economy #Unemployment #Tariffs #Jobs #USPol
Edited 105d ago
The world’s most widely followed #StockMarket benchmark slid into a correction on Thurs, a drop that underscores how the 2-yr-long bull market [#Bidenomics] is running out of steam in the early days of the #Trump admin.
The move stems from investors’ growing pessimism about the whipsawing policy pronouncements from Trump over the past few weeks. On-again, off-again #tariffs & #MassLayoffs of #FederalWorkers have fomented unease on #WallStreet.
#economy #Trumpcession
https://www.nytimes.com/2025/03/13/business/sp-500-stocks-market-correction.html?smid=nytcore-ios-share&referringSource=articleShare&sgrp=p&pvid=2AF81A08-DB10-4E54-BA71-32F938B4D01C
#FederalReserve Chair #JeromePowell is speaking
Says #Trump #tariffs were far higher than expected & that larger than expected tariffs mean higher #inflation, slower growth.
"We face a highly uncertain outlook with elevated risks of both higher #unemployment & higher inflation," undermining both of the #Fed's mandates of 2% inflation & maximum employment, Powell said in prepared remarks for a business journalists' conference.
As boring as this topic may be and resentful as we may be that this man continues dominating news cycles, it's impossible to avoid either, because the damage is ongoing.
Heather Cox Richardson writes,
"The stock market continued to fall today. The Dow Jones Industrial Average fell another 478 points, or 1.14%; the S&P 500 fell almost 0.8%; & the Nasdaq Composite fell almost 0.2%."
#Musk #Trump #economy #stagflation #recession #StockMarket #billionaires #tariffs
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Just imagine a Democratic candidate wondered aloud "why not default on US bonds?"
