Quote:
Originally Posted by GoRedSox!
There is very little objective economic information to support this statement.
The stock market, all three indices, is at an all-time high. Corporate profits in the aggregate are the highest they have been for years. How can this happen in a terrible economy?
It is a fact that the unemployment rate has been under 4% for the most consecutive months in history. This is not indicative of a terrible economy. There are millions more job openings than unemployed workers. The employees of any restaurant that goes out of business will have no trouble finding new work in the restaurant industry as there has been a shortage of workers. McDonald's was selling for about $175 a share right before the pandemic struck. Today, it sells for about $273 a share.
The CEO's of both Costco and Walmart said that their grocery prices are lower than they were 1 year ago.
This is not spin. It's all factual data. There certainly is challenges in the economy, it's not perfect. If you need a mortgage, no one wants to pay close to 7% interest. But it is absolutely true that our economy is the best in the world. It's not terrible. It's been so much worse so many times in my life.
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Grocery prices are still up well over 20% from 3 1/2 years ago. So a slight drop, while nice is hardly a sign of a good economy...