Summary
President Joe Biden highlighted his administration’s economic record, citing consistent job growth and a 2.7% inflation rate drop from its 2022 peak.
December’s jobs report showed 256,000 new jobs and declining unemployment, signaling steady economic growth.
However, inflation remains above the Federal Reserve’s 2% target, and interest rates remain high, impacting homebuyers and businesses.
Public pessimism lingers on affordability as Biden passes a largely strong economy to his successor, Donald Trump.
In this theead: A whole lot of people who don’t understand that deflation is awful.
Deflation is fine. Plenty of countries have been through deflation and they haven’t exploded. Japan is probably the best example.
BUt tHeY dIdnT kEep dOmInaTiNg Tech anD cArS
Which has nothing at all to do with China, Korea, and Taiwan all rushing to be local and global competitors I’m sure.
That’s fine, we’ve got other options. Let’s just see how big the disconnect needs to get before we start taking them.