Yes, claiming better employment numbers because people are forced to work two or three jobs to put food on the table is hardly an indicator of a great economy.
I expect that the Biden administration will have some major revisions to their economic figures soon after the election. Only then will they admit that the economy has been in a recession since March and unemployment has been getting worse.
I would not be surprised to see a revision coming out after the election that runs something like this:
"Revised figures show that the economy has actually really been in a recession with rising unemployment since March. Our bad.
"Of course the massively revised figures mean that we can claim we are now entering a recovery! Yay!
“If you ask how we can have a recovery for a recession that we supposedly never had, you must be pawn of Putin.”
That’s the point. Progressive Democrats are using taxpayer money to enrich their donors and deliberately crash the economy. There’s no actual benefit to the American citizen for any “climate” bill, it’s solely for Democrats to increase their power - especially now that China is no longer even discussing climate change policy with us.
The people who have returned to their jobs after being needlessly laid off because of the ChiCom virus are not despite what ‘Ol Folksy Joe keeps claiming, “new jobs”.
GDP is shrinking, and payrolls are increasing.
By definition, that means worker productivity is shrinking.
In fact, productivity is shrinking at a VERY rapid rate.
Usually the two run rough tandem when they run in opposite directions, it’s really kind of scary.
Anyway, right now worker productivity is so low the employment picture is clearly melting.
The lag time varies but the direction is inevitable.
On the (stock) investment front:
The market’s current “bear market rally” has been big enough, long enough that technically we appear to be in the beginnings of a bull market. (Define “recession.” Define “bull market.” etc.)
I believe that in a big picture sense, the market goes bull-bear-bull- bear.
Instead it goes bull-flat-bull-flat. Bear markets are things that occur as part of a “lost decade.”
“Lost decades” have compromised
roughly half the time in the stock market since 1900,
including roughly half the time in the stock market since WW-2.
(see below)
