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US economy going strong under Biden – Americans don’t believe it
(www.theguardian.com)
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this post was submitted on 15 Sep 2023
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politics
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The US inflation rate is 3.7 Britain 6.8 Germany 6.1 France 4.9
Home prices and rent are crazy high, though. Plus student loans are coming back, no wonder everyone feels poor, unless you already managed to buy a home with low interest rates. So things are great for those people, I'm sure.
Of course that isn't inflation. That is individual sector increases, which is something that a President can do little about.
In other words, we're screwed and everyone else is double-screwed.
3.7 isn't too bad. Not great, below 3 would be good. But, as long as the rest of the world suffers we will too. Our main trade partners, Canada and Mexico, are doing all right so the chances are we won't slip into a recession. This is especially true because the US GDP is so good. This is a problem that COVID left the world.