The economy is soaring at historic levels, unemployment is nonexistent, wages are increasing at never before seen rates, and inflation and interests are extremely tame compared to other periods of prosperity, And yes, the stock market has been very rewarding, especially to investors that turned away from the nose-bleed valuations of the FAANG stocks towards more asset rich stocks that benefit from a little inflation. And when you fill you SUV at the gas pump at 3.50 a gallon, thank you for making me a tiny bit richer.
Originally Posted by tobias1988
Well, in Argentina, wages are up 47% year-on-year! The catch is that the consumer price index (CPI) is up 51%.
Something similar is happening here. Wages were up about 5% last year while inflation was up 7%. Some of 40-year-record increase in CPI we're seeing is attributable to Biden's American Rescue Plan and to the "extremely tame" interest rates you noted.
While you may be making tons of money in the stock market, a lot of good that does for the working man, who's struggling paycheck to paycheck, and losing ground to inflation. Undoubtedly some people have to cut back on the food bill to pay $3.50 a gallon so they can drive to work.
As to unemployment, it hit hit a 50 year low in 2019, before COVID hit. While unemployment now is 4% (versus 3.5% in January, 2020), the labor force participation rate is the lowest it's been since 1977, if you exclude the dark days of COVID. Employers are begging for workers, but apparently people are sitting on their asses for one reason or another. The silver lining is that since Biden's extended unemployment benefits ended back in September, and since he wasn't able to further extend them with something like the Build Back Better bill, labor force participation has been increasing.
So trumpy supporter...thats all you got lol n omg n wtf for trumpy record unemployed numbers and record supply chain numbers. you can't defend the dumming of America. Butt you can keep on swinging dumb shit lol n omg n wtf. Record bad bad economy under trumpy shut down numbers. Biden opened the record breaking economy dah
Originally Posted by Tsmokies
What does "record supply chain numbers" mean?