President Trump had arguably the greatest economy in US and world history in 2019. The opposite is true with the Biden economy and Americans are really suffering as a result.
Under President Trump the US saw unemployment at less than 4%, the best in decades. The stock markets were at all-time highs, real wages were growing and outperforming the increase in the cost of living. The US GDP was the greatest in US and world history and inflation was near zero. In addition, the US became an energy producer for the first time in decades and the price of gas was near or less than $2 a gallon.
Oh what a difference a stolen election makes. Â
The Conservative Treehouse reports that unemployment claims are rising.
The U.S. Dept of Labor has released the unemployment claim data [DATA HERE], and the results show claims of 286,000 last week: an increase of 55,000 from prior week and the third consecutive week of increased claims.
Also, the Treehouse reports that productivity in the 3rd Quarter dropped the most since 1960.
The value of all products and services generated in the third quarter increased by 1.8 percent. However, the labor cost of generating that small amount of added value increased by 7.4 percent. The difference between those two numbers is a drop in productivity of 5.2% over the entire quarter.
This was the largest quarterly drop in productivity since 1960 !
We have reported on inflation being the highest it’s been in 40 years on paper with real numbers being worse than that.
This week it’s also reported that the NASDAQ has fallen into ‘correction territory’ after declining more than 10% since its peak.
With massive government spending, higher costs for energy, increased inflation, increased US debt, increased interest rates on the debt, and increasing unemployment, Biden’s economy is set to get worse. Get ready for the Biden nightmare.Â
