Wednesday, January 18, 2017

Americans Think the Economy is Bad – Americans Are Wrong

Americans Are Not Stupid, Just Misinformed by a Weak and Oh What a Sniveling Press

Objective reporting does not come from the U. S. media.  One has to look to foreign sources to get the real picture.  Here is the correct assessment from the Financial Times on the state of the U S. economy.

Donald Trump will enter the White House presiding over one of the stronger US economies any president has inherited in recent history.

On Thursday, the Department of Commerce reported that the US economy grew at a far faster pace in the third quarter of 2016 than previously thought — an annualised rate of 3.5 per cent. Since the 1980s, the only president to have taken office while the economy was growing at a faster rate was George HW Bush.

And what has the Obama administration done?

The latest data stand in sharp contrast to the free-falling economy Barack Obama inherited in 2009, when the US was losing almost 800,000 jobs a month. On the campaign trail, Mr Trump repeatedly characterised the economy under Mr Obama as a disaster, but the economy has come a long way since then.

But were the American media to report such things it would be accused of ‘bias’ and maybe not invited to swimming parties at Mar-a-Lago.   

What about unemployment?  Oh This

The US unemployment rate has fallen to 4.6 per cent. Only one recent president — George W Bush — has taken the oath of office when the US had a lower jobless rate.
Unemployment peaked at 10 per cent in October 2009, just after Mr Obama entered the White House. Ronald Reagan is the only other recent president to have overseen a similarly sized drop in unemployment: the rate shrank from 10.8 per cent in 1982 to 5.3 per cent in 1988.

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