The S&P 500 has climbed 62% since Biden's election in November 2020. By comparison, the S&P 500 rose 57.5% in the four years after Trump's election in November 2016. Under Trump the economy lost 2.9 million jobs. By comparison to date the economy has added over 15 million jobs under Biden. About 9 million of those jobs were lost during the pandemic, net jobs gain from pre-pandemic levels is 5.5 million. Wage increases even though until recently were outpaced by inflation under Biden have been especially robust for poorer people. What metrics do you use for your claim that the economy is doing so poorly?
And there you go off on a tangent again, this time with the debate. I don't care who wins the election and I have no desire to watch debates between the two main candidates, I find I am unlikely to learn anyhing new by watching them. I don't care how likable a candidate is, I only care about their policies and how likely it is that they will follow up on them. However the few news reports I do read claim that Trump looked better than Biden. If Biden had done better than Trump, would you vote for Biden?
But lets try to follow your latest tangent... As far as I am aware, house prices tend to go up when the economy is doing well AND interest rates are low. In the U.S. The economy under Trump was also doing well, employment numbers were not. There was a spending splurge of trillions of dollars in federal funding that were pumped into the economy during the pandemic, including three rounds of government stimulus checks distributed to qualifying households. Two of those stimulus payments were part of bills signed into law in 2020 by Trump, while the other payment to most Americans was in the American Rescue Plan Act that Biden signed in March 2021. According to Fox buisiness, Trump added about 8.4 trillion to the national debt while Biden has added 4.3 trillion to the national debt so far and it will go up before the year is out.
Central banks usually have a mandate to keep inflation at around 2% (this seems to be the internation norm. They are supposed to do their work independently, although you can question how independent they really are as they are appointed by politicians. Your current head of the federal reserve Jerome Powel, is a republican and he was appointed by Trump. Powell received bipartisan praise for the actions taken by the Federal Reserve in early 2020 to combat the financial effects of the COVID-19 pandemic. (notice another nice thing I have to say about Trump) According to the federal reserve the average sales price of houses rose sharply (70%) between Q2 2020 and Q2 2022 (371,100 - 525,100) and have dropped slightly since in response to the high (5.33%) interest rate. The interest rate is expected to drop by the end of this year since inflation is coming down. House prices will probably continue to rise, due to low available stock (fewer homes were build during Tump's term due to the pandemic) high employment, higher wages and lower interest rate. Great when you own property, not so great when you are a new buyer. HOW will your prefered candidate make American housing affordable? What are their proposals? THINK.
Now let me introduce a tangent of my own. Trump doesn't say much about policy, but many of his supporters are working on "project 2025" for Trump to implement if he wins the election. No idea if he will or won't implement all or parts of it, but replacing merrit based positions in government with political appointees is a really dumb idea. (Surely you wouldn't want democrats to make those appointments, but if project 2025 is implemented, it is higly likely that one day a party you don't like will become the governing party and are likely to replace all those political appointees with their own) THINK.
I keep asking you guys to THINK, make valid arguments for and against the candidates. Claiming that the economy is not doing well, that employment numbers are bad, that oil production is down, wile the opposite is true, doesn't help your case, it makes you look like an idiot. Claiming that Biden, who has not been convicted of any crime, is a criminal, while Trump is an actual convict, undermines your underlying argument that people shouldn't vote for criminals. You introduced yet another tangent, Biden's son used coke, would you vote differently if one of Trump's kids used coke? THINK.
