Whose Economy Is It, Anyway?

Seriously, who does President Trump think will believe this crap? I know, I know: About 25% of the general public, and he’s absolutely right. In this case, I’m talking about the comical relationship between DJT and the economy. Maybe you saw this last week

Before the bar for serious writing becomes whether or not you’re on the list to get thrown into Trump Alcatraz, let’s enjoy a brief refresher, shall we?

I’d bet twenty bucks that for the first two years of the Biden administration, every business day brought a new article about how a recession was basically a sure thing. A foregone conclusion. Definitely gonna happen.

I encourage you go research that, but in the name of brevity, let’s cite just one example from October 2022, noting that more than a year and a half had gone by but the conventional wisdom on Wall Street had not budged:

Forecast For US Recession Within Year Hits 100% In Blow To Biden

That’s from Bloomberg. Four months earlier, Biden and his officials had stated that a recession was not “inevitable.” Did anyone in finance believe him? No, they did not. And yet, he persisted.

Of course, the entire world economy was trying to keep it between the lines after the shock of the COVID slowdown and then the jolt of various economic stimuli applied to avert longer-lasting catastrophe.

Inflation was a real thing. However, price-gouging since the public knew to expect inflation was also a real thing. Raising prices to cover higher costs is understandable. Reporting record profit margins and profits during that timeframe is … less so.

Biden (and by extension, Harris) took a lot of heat for sustained higher prices that remained elevated due in no small part to bad capitalism by the last people who would vote for Biden. And yet, he persisted.

I never bother with price-of-eggs gotchas because anyone with half a brain knew that egg pricing should never have been a big deal in the election in the first place. What got lost in the noise is that the Biden administration pulled off what both Wall Street and MAGA figured was impossible: A soft landing.

Check out how the U.S. handled global inflation compared to competing countries.

Or check out how the U.S. GDP recovered compared to other countries.

Beating the odds (and the rest of the world) should have been the message. That was the accomplishment, and that was the economy that was handed to the current occupant.

I’d compare what has transpired since then to giving typewriters to 1,000 monkeys, but what it really brings to mind is what happens when you give a statue to 1,000 pigeons.

Also appropriate: my favorite Beastie Boys video.