Michael Tae Sweeney: (before you check, the Dow hit 40,000 for the first time under Biden a few weeks ago. Somehow didn't see any stories about giddy stockbrokers that attributed it to Biden "keeping his campaign promises" there either)

if you want to understand why Biden's economic record has been unpopular, compare and contrast today's NBC News article about strong job growth and record low unemployment with a 2017 NBC news article about the stock market hitting record highs:

(before you check, the Dow hit 40,000 for the first time under Biden a few weeks ago. Somehow didn't see any stories about giddy stockbrokers that attributed it to Biden "keeping his campaign promises" there either)

Do people who post viral complaints about the cost of Taco Bell meals understand that they are part of a propaganda effort designed to weaken the US labor market (only in part in order to weaken Biden and the Dems and get Trump reelected)? bsky.app/profile/walm...

It's beautiful that the media has figured out they can alternate between "inflation down, possibly bad for jobs?" and "jobs up, possibly bad for inflation?" until America elects Trump again for them.

One of the greatest policy success stories of our time and you probably haven't heard anything about it in the news because good labor market news is now framed as "bad for inflation" (with little evidence besides the fact the Federal Reserve thinks it is) bsky.app/profile/pkru...

Ten years ago many Very Serious People said that America could never return to full employment because our workers lacked the necessary skills

Also successfully navigating out of COVID with inflation as the main economic consequence, rather than mass unemployment, bankruptcies, and foreclosures, was a bfd.

But those things will speed the Rapture! I mean the Revolution. I meant the Revolution. I always said the Revolution, you just heard me wrong. Brain fart. I was thinking of the rapture people would feel. Anyway, f**runs out of characters**

We did the soft landing which was a historically good progressive outcome and because everyone has memes themselves into thinking delivery Big Macs are the key economic indicator we’re going to get 12% unemployment next time this happens

Also highest prime age women LFPR ever.

MTS my bat signal goes off every time you slander Jay Powell like this (and yes, slander is the correct term in this instance)

this is mild criticism, i'm not even doing the real powell slander!

it's still Powell slander, he's happy with the employment rate

Eggs cost more in an economy seeing real wage growth, do you: A. Ask for a raise? B. Get big mad at big egg? C. Retweet stuff about how expensive eggs are?

We can’t possibly cut rates, resulting in more financing power for all those newly employed

There wasn't this kind of inflation in 2017, you can't "frame" the discussion as "bad for inflation" when there is no inflation to control. People are upset about the economy bc of inflation - full stop. Your conclusions about econ are not well founded.

Wage growth has outpaced inflation by the way

I'm not arguing that the economy isn't doing well despite popular perception. I'm arguing that Michael Tae Sweeney doesn't understand the economic theories he's relying on in his conclusions, e.g. the DJIA is not a measure of economic growth.

Hes arguing that the media reporting is not the same

we all know that the DOW only hit 40k because of gamestop /s

The corporate media has embraced fascism.

See, I kept looking for the coverage when that actually happened. It has already happened?

It's like I read the news and watch my assets grow on my phone then look up wearing my party hat and kazoo and see I'm the only one smiling. What gives?

Our rightful overlords (chosen by dint of Blood and Party Loyalty) are not in charge, and that is a prize worth any price. For them, of course. But for you too. Not for any material reason, just knowing the rightful owners are in charge.

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