re: Morgan Stanley credits ‘Bidenomics’ in lifting its U.S. economic-growth outlook.

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Minus the fact that everything now cost 2X what it did 3 years ago?

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Earnings are also higher than they were 3 years ago.

LINK

In real terms, earnings are actually higher than they were 3 years ago.

LINK

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In real terms, earnings are actually higher than they were 3 years ago.

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And for the third time, below where they were pre-Covid.

The market and the economy are not the same thing. Also, the markets are not booming. A few companies are doing well and carrying the market. The market cap weighted index was beating the equal cap weighted index by the largest margin on record for the first half of the year. Only in the last month or so that we have had any breadth in the market.

Lastly, no one that has been in the business long talks like you do. Best case scenario you are a junior analyst on a team. Most likely, you are an errand boy that they allow to run term quotes on Friday so you feel good about yourself going into the weekend, and show back up on Monday.

What!? Pouring debt dollars can move the Econ needle a bit in the short-run? Go figure.

What are the long-term effects though?

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And for the third time, below where they were pre-Covid.

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No, they weren't.

For the last time, that's not what the graph shows.

Q4 2019 earnings were around $362 per week in 1982 dollars for a full-time worker.

Q2 2023 earnings were around $365 per week in 1982 dollars for a full-time worker.

Where is the decrease pre-COVID?

There was an increase during the COVID period from Q1 2020 but that wasn't a normal macro environment and people weren't consuming.

Wages are above what they were pre-COVID.

Brilliant - I even attached a link that demonstrated my point.

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You are one dumb frick. No wonder you work from home 3 days a week collecting gubment dime.

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Yes, I'm the 'dumb frick' when you can't read a graph.



Q4 2019 - $362 per week.

Q2 2023 - $365 per week.

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Also, the markets are not booming. A few companies are doing well and carrying the market.

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This is how a market-cap weighted index fund works.

A few companies do well and bring up returns.

Even the Russell 3000 index is up 13% this year.

DJIA is up 10% as well which is an equal-weighted index.

The S&P500 index is up 14%.

The equal-weighted S&P500 index is up 10%.

Small cap indexes have also performed well and the US economic outlook is pretty good (the sell-side research we have also shows that).

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Lastly, no one that has been in the business long talks like you do. Best case scenario you are a junior analyst on a team. Most likely, you are an errand boy that they allow to run term quotes on Friday so you feel good about yourself going into the weekend, and show back up on Monday.

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Dude, you work at a wealth manager somewhere in Lousiana most likely.

You have no idea how the 'business' talks when you work at a wealth manager as opposed to a long-only asset management firm.

The market is absolutely doing well.

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The market is absolutely doing well.

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Yeah. That’s what inflation does.

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Lowest unemployment in 60 years

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you really think bidens policies are better than trumps? those numbers are garbage and do not account for many things. take a look at the labor participation rate. he will not catch trump.

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13 million new jobs

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like obamas jobs regained you mean? after he sunk the economy? he still never got it back to bush levels. new jobs? as if he eclipsed anybodys highs

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Lowest inflation of all G7 countries

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the inflation here is garbage.

I've long believed that presidents can do very little to drive the economy but they have more than enough power to tank it.

Economic cycles rarely care who's in office.

Did Joe Biden do anything for the economy? Hell no.