It’s being argued that the current economy is the best in American history.
In 1965, Americans spent about 15% of their income on food. It's around 10% now, despite people eating more, eating out more, and generally having much better-quality food.
No, I'm not American, and I'm not lying as I genuinely believe what I'm saying is true. The West has generally seen a booming economy after anti-COVID economic measures were taken. I'm Norwegian, and both growth and inflation have been high here.
I’ll bet my life that in 10 years the stock market will be higher than it is today.
A booming economy here means a lot of wealthy people got wealthier and ordinary folks can’t afford groceries, let alone housing.
2024 isn't over yet, so we don't have complete numbers for this year. Moreover, solid numbers for a large number of factors take maybe half a year after the year has ended to come in. Comparing directly against 2024 isn't meaningful. For single year performance, 2021 and 2022 would be the most critical ones in terms of recovering after COVID.
I assure you, people can actually afford groceries and housing. The majority of Americans are neither homeless nor starving to death.
Over the past 3 years, adjusted for (i.e., on top of) inflation, it's been 5.95%, 1.94%, and 2.5%.
Groceries have literally never been more affordable than they are now in the U.S.
Biden changed the definition of nominal and real growth, alongside what a recession means. And the definition of dementia. And the definition of border security, with assistance from Harris. And...
Wage growth has surpassed inflation for over a year now and GDP growth has surpassed previous projections based on the 2019 figures. If today's economy is so horrible then Trump economy with higher unemployment and lower growth rates and stock values must've been even worse.
Of course its not just about the stock market but the stock market is one indicator. If we had an economic downturn you'd see it in the form of lowering stock prices thus record highs suggests a strong market.
Wage growth has surpassed inflation for over a year now. We have record lows in unemployment compared with 6.6% unemployment in 1960. The US GDP now is obviously far bigger now so comparing the two is very silly of you.
No unlike you I support allowing more housing types to be built to lower home prices, I'm just pointing out that during one of the golden ages you point to American households averaged one small car and a house with less than 1000sqft. Somehow you think Americans today who own homes that average 2300 sqft and drive around in $80k lifted pick up trucks are worse off.
The only reason you say that is because you haven't seen the price of ostrich eggs with your liberal eyes.
Rob literally did insist on one of those and that we secretly had a recession in 2022. When he eventually gave up on that, he said there was a 100% chance of a recession in 2023. Whoops!
You ever have an ignorant American who tells you how things are going in your country despite not knowing what they are talking about?
He's pulling another fast one. It would be good if 1960s-sized homes were more available, but that doesn't mean we'd be richer if the average person could only afford that.
There has literally never been a point in time when some Americans weren't living paycheck to paycheck. You'll have to provide stats to prove that said number is proportionally larger now than before. The idea isn't that things are literally perfect now, but broadly better than before. That should not be considered a bizarre point.
