BIDENOMICS EXPOSED: No, the economy isn't great, and yes, it is failing - from the FED's mouth. President Joe Biden and his Democratic supporters frequently assert that the economy is thriving. However, is this truly the case? Amidst relentless promotional efforts by the Biden administration, many Americans find themselves doubting their own experiences. Increasingly, citizens are facing greater financial challenges, often needing to work multiple jobs to maintain the lifestyle they had during Trump's presidency. It's crucial for Americans to have access to the truth, untainted by political rhetoric or misleading narratives from mainstream media. Fortunately, the Federal Reserve's Beige Book offers an unbiased perspective on the economic situation, free from the distortions often associated with political agendas. Below is a summary that provides an objective view of the economy, devoid of any "Biden spin." I hope you find this informative and helpful. Overall Economic Activity Economic activity across various Districts has slowed, with a general trend of modest growth, flat conditions, or slight declines. Retail sales were mixed, with a noticeable drop in discretionary and durable goods as consumers became more price-sensitive. Travel and tourism remained robust, but transportation services faced sluggish demand. Manufacturing activity presented a mixed picture, and manufacturers' outlooks have weakened. In the banking sector, demand for business loans, especially real estate loans, has slightly decreased, while consumer credit remains fairly stable despite a minor increase in delinquencies. Agricultural conditions have improved marginally due to higher selling prices, but crop yields varied. Commercial real estate activity is slowing, particularly in the office and multifamily segments. Residential sales have slightly decreased, with a rise in home inventories. Labor markets have seen a cooling demand, with more job applicants and improved retention, although layoffs and attrition have led to reductions in headcounts. While overall labor markets remain tight with a scarcity of skilled workers, wage growth has been modest to moderate, with some easing in wage pressures and even reductions in starting wages. However, challenges in attracting and retaining high performers and specialized workers persist. Price increases have generally moderated, with a mix of decreased freight costs and rising food prices. Construction input costs have stabilized or decreased, but utilities and insurance costs are increasing. Service providers have had more success in passing through cost increases than manufacturers. Most Districts anticipate moderate price increases to continue into the next year, with some noting that rising debt costs are hindering business growth. Overall, the economic outlook for the next six to twelve months has become less optimistic. When the Fed decreases interest rates, that is typically a sign of a poor or failing economy. This report was prepared at the Federal Reserve Bank of Atlanta based on information collected on or before November 17, 2023.
BIDEN JOB NUMBERS ARE A CASE OF COOKED BOOKS. Have a read.... It’s a new year, a new month, and a new round of misleading statistics from the Biden administration. While the White House was quick to tout the December jobs report as a success story, there is little to celebrate. Their upbeat claims are based on increasingly questionable data. The first red flag comes from the differences in the two surveys used to compile the jobs report: an establishment survey of businesses, and a survey of households. The headline number of 223,000 jobs added in December comes from the establishment survey, while the headline unemployment rate of 3.5 percent comes from the household survey. Both have their own measure of employment but they tend to move roughly in sync with one another over time. In 2021, however, they diverged sharply. Since March, that divergence has been 2 million jobs. Why the sudden deviation? Perhaps there’s a problem with the surveys themselves.
@JackLombardi 2/ It's caused by expanding the M2 at a much faster rate than GDP growth. Monetary policy and reckless Fiscal spending has undermined our economy. You don't understand how it works? 💯💯💯💯💯💯💯💯💯💯
@JackLombardi Report referenced is only for the period from October to mid- November ‘from contacts outside the Federal Reserve System’, and ‘is not a commentary on the views of Federal Reserve officials.’
The most important number and often overlooked is the amount debt Americans are in. 17.6 trillion dollars. That's trillion, and it's another record. So all of these large numbers, like 4.9 for GDP, are based on a house of cards. It's not real money. Yes, the American economy is in trouble. Pull your head out of the sand.
@JackLombardi @GOP 1/ Republicans don't stand a chance unless they dump Corporate and cut ties with the con man grifter & their mistaken hand-picked MAGA candidates & bring forth some qualified candidates and improved policies that actually benefit WE THE PEOPLE hard-working Americans. CONT…
@JackLombardi @GOP 4/ Corporate tax cuts can be beneficial to hard-working Americans when Corporate pays it forward, yet post-Citizens United, Corporate chose greedflation price gouging, further widen our country's already expansive wage and wealth disparity gap. 💯💯💯💯💯💯💯💯💯💯💯💯💯💯