The Choice in 2020: President Trump Who Created the GREATEST Economic Recovery EVER vs. Joe Biden Who Was Behind WORST Economic Recovery Since the Great Depression
This election is the first to pit the candidate with the worst recovery ever (President Obama’s Vice President Joe Biden) with the candidate with the greatest recovery ever (President Trump).
In July 2011 we reported that President Obama and Vice President Joe Biden’s economic recovery was the worst in US history.
Worst. Recovery. Ever.
Barack Obama’s economic recovery is even worse than we thought.
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(The Wall Street Journal)
The Obama-Biden recovery was the worst ever since the Great Depression.
The Wall Street Journal reported, via Memeorandum:
Two years ago, officials said, the worst recession since the Great Depression ended. The stumbling recovery has also proven to be the worst since the economic disaster of the 1930s.
Across a wide range of measures—employment growth, unemployment levels, bank lending, economic output, income growth, home prices and household expectations for financial well-being—the economy’s improvement since the recession’s end in June 2009 has been the worst, or one of the worst, since the government started tracking these trends after World War II.
Profits Thrive in Weak Recovery Bright Days for the Bottom Line Keeping a Watch on the Bellwethers In some ways the recovery is much like the 1991 and 2001 post-recession periods: All three are marked by gradual output growth rather than sharp snap-backs typical of earlier recoveries. But this recovery may remain lackluster for years, many economists say, because of heavy household debt, a financial system still damaged by the mortgage crisis, fragile confidence and a government with few good options for supporting growth.
There are bright spots. Exports, particularly of manufactured and agricultural goods, are improving, in part because of booming developing-country economies and the weaker dollar. They are expected to pick up in the second half of the year as the temporary shock fades from Japan’s earthquake and tsunami. In a hint of this, the Institute of Supply Management on Friday reported an uptick in manufacturing for June. Higher corporate profits, stock prices and business investment also are supporting the expansion.
More… This is frightening.
The Foundry posted this chart showing the weak employment numbers during the Obama years.
Now compare this with President Trump’s miracle economic recovery happening now.
We reported Monday morning that the US is in the greatest recovery in US history right now. The statistics are record breaking!
The St Louis FRED reports that July’s Unemployment is now down nearly 5% since the economy was shut down as a result of the intentional shut down due to the China coronavirus. The unemployment rate reached 14.8% and now it is down to 10.2%, a decrease of nearly 5% in only three months:
The FRED also reports that there are now 139.6 million Americans working. In April the FRED reported that there were only 130.3 working Americans. This increase in working Americans in only three months is record shattering. Nearly 10 million more people are working now than in April. The total number of Americans working is now more than any month since September 2014 and before:
Today the S&P 500 opened at 3,360.77 – this is now near its all-time high set in February this year. The markets are all nearly back up to all-time highs set in February this year!
The markets have never grown so much in such a short period of time. This is record breaking!
Overall, more new jobs were created in the past three months than any time in history and the markets have grown more in the past three months than any time in history. This is the greatest recovery ever – a far cry from the horrible economic recovery of the Obama-Biden years.
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