Larry Kudlow admits - wrong about Biden economy

[VitaMan]

The usual suspects on here that trot out their institute papers on the Biden economy have another chance to attack and dispute the facts. Have at it.



Larry Kudlow, the Trump White House’s Director of the National Economic Council, on Thursday admitted on Fox News he was wrong about the Biden economy and all the predictions of an economic slowdown and impending recession that turned out to be false.

“Mea culpa,” said Kudlow, who has an extensive financial background including being the chief economist and senior managing director for Bear Sterns, the once powerful but now-defunct investment bank.

The United States never entered a recession under President Biden, and now economic experts have praised the U.S. economy as having performed the best post-COVID.


“The United States economy grew faster than any other large advanced economy last year — by a wide margin — and is on track to do so again in 2024,” Axios reported Wednesday.

[Ripmany]

No jobs

[VitaMan]

Another shockingly good jobs report shows America's economy is booming



The January jobs report showed that the US economy added a stunning 353,000 jobs last month, confounding market expectations Friday morning

[Salty Again]

... But IF it's such a "great" economy - they why the confounding?
Weren't the market expectations vey high??

Why is everyone so surprised at the result?? ...

... Let's give it a month or two and see the expectations for April.

#### Salty

[1blackman1]

Bidenomics still working. Unless you watch Fox or listen to complaints by Righties on here.

[Budman]

He also said that wages have not kept up with inflation. So most americans are worse off since that POS took office.

[Salty Again]

Originally Posted by 1blackman1

Bidenomics still working. Unless you watch Fox or listen to complaints by Righties on here.

... The OP's report on the good economy and jobs report
CAME FROM Fox-News! ...

#### Salty

[oilfieldace]

Originally Posted by VitaMan

The usual suspects on here that trot out their institute papers on the Biden economy have another chance to attack and dispute the facts. Have at it.



Larry Kudlow, the Trump White House’s Director of the National Economic Council, on Thursday admitted on Fox News he was wrong about the Biden economy and all the predictions of an economic slowdown and impending recession that turned out to be false.

“Mea culpa,” said Kudlow, who has an extensive financial background including being the chief economist and senior managing director for Bear Sterns, the once powerful but now-defunct investment bank.

The United States never entered a recession under President Biden, and now economic experts have praised the U.S. economy as having performed the best post-COVID.


“The United States economy grew faster than any other large advanced economy last year — by a wide margin — and is on track to do so again in 2024,” Axios reported Wednesday.

You know I watched his entire interview and you have certainly omitted what he actually said, but hey what the hell. The American people will certainly weigh in how they like BE Also over a 1/3 were gubement jobs and the rest were temporary.

Have you heard about all the layoffs companies ar talking about.

Question , how can you add 350k jobs and unemployment rate stay the same?

[Jackie S]

Yet Mr & Mrs America are living paycheck to paycheck, and don’t even have enough cash on hand to get a new Refrigerator if the old one dies.

Somebody is getting rich, but it sure isn’t them.

[Lucas McCain]

Originally Posted by oilfieldace

Question , how can you add 350k jobs and unemployment rate stay the same?

I'll simplify things to answer your question, Ace and not give other reasons. If ~353,000 jobs are added in an economy and ~353,000 jobs are accepted in that same economy, the unemployment rate will not change... I could go in full geek mode and give many more detailed reasons as to why, but like I always post, I never forget the audience in here.

I admit that is not the best answer, but fuck it, I went to school to learn this labor economics shit so I'm not typing it all out for free.

[VitaMan]

Before this thread gets off track and deteriorate into personal squabbles, the main point is Larry Kudlow admitting he was wrong about the economy.

[Jackie S]

Originally Posted by VitaMan

Before this thread gets off track and deteriorate into personal squabbles, the main point is Larry Kudlow admitting he was wrong about the economy.

I watched him on Fox Business.

True, we did not dive into a big recession as he thought we might.

True, the stock market is booming, despite Biden’s policies.

He also admitted that none of this seems to affect the way that average Americans feel. All they see is everything is a heck of a lot more expensive than it was 3 years ago and it is difficult to make ends meet.

[eccieuser9500]

I don't watch that shit that calls itself News, but I can tell you this: He let his bias cloud his judgment.

Originally Posted by VitaMan

Before this thread gets off track and deteriorate into personal squabbles, the main point is Larry Kudlow admitting he was wrong about the economy.

Originally Posted by Lucas McCain

I'll simplify things to answer your question, Ace and not give other reasons. If ~353,000 jobs are added in an economy and ~353,000 jobs are accepted in that same economy, the unemployment rate will not change... I could go in full geek mode and give many more detailed reasons as to why, but like I always post, I never forget the audience in here.

I admit that is not the best answer, but fuck it, I went to school to learn this labor economics shit so I'm not typing it all out for free.

[lustylad]

Originally Posted by oilfieldace

Question, how can you add 350k jobs and unemployment rate stay the same?

Originally Posted by Lucas McCain

If ~353,000 jobs are added in an economy and ~353,000 jobs are accepted in that same economy, the unemployment rate will not change... I could go in full geek mode and give many more detailed reasons as to why...

Please go ahead in full geek mode, I want to hear the detailed explanation.

Doesn't the rate depend on BOTH the total number of people out of work (numerator) and the size of the civilian labor force (denominator)?

[farmstud60]

There are two reasons the economy didn't tank like many thought it would.


1. Everyone knew Biden's economic policies were a dumpster fire so they adjusted things accordingly.
2. The lying press of CNN and NBC kept reported positive economic new instead of the negative impacts.


There is conflicting data out there about the economy. The numbers reported don't make a lot of sense. When credit card default rates are going up, it isn't a sign of a strong robust economy.