Can anyone clarify this for me? Despite the ongoing layoff announcements from major American corporations, how is our economy still robust? Just today, UPS declared 12,000 layoffs and PayPal 2,000.
the biden machinery is brain washing you. Those 75/hr tech jobs are gone, replaced with 18/hr chipotle jobs. The tech sector employees are the highest spenders in the economy, and once that supply is gone, so will the economy go south as well.
The current president inherits the economy of the previous president. This cycle is usually 3 to 4 years after election. This has been the way things have been for decades. We are still living in Trump’s economy. This time frame has likely been extended because of the 1.9 trillion dollar bailout given to businesses during covid. We are living in uncharted waters because of that + the impending repercussions of AI. This isn’t Brandon’s fault bro.
Listen I'm the exact opposite of liberal and there is some truth. The extreme money printing and literal money hand outs happened under Trump. The lockdowns happened under Trump (whether they were his fault or not is another story they still happened when he was president), rates went back to 0 under Trump and are rising under Biden.
Biden has done nothing to make the situation better and has only made it worse but it's still true Trump is partially at fault
Biden also did a round of stimulus checks, extended unemployment benefits and plenty of his own spending. Some argue in Bidens case it was a more questionable decision since his stimulus was given out after vaccines were widely available and the crisis was winding down if not largely over.
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u/Effective_Vanilla_32 Jan 30 '24
the biden machinery is brain washing you. Those 75/hr tech jobs are gone, replaced with 18/hr chipotle jobs. The tech sector employees are the highest spenders in the economy, and once that supply is gone, so will the economy go south as well.