A cynic (and that would be me) would figure that Biden and his minions are touting the ‘strong economy’ because we’re coming into an election year, and they want to remain in power. But I’m left wondering just how much do THEY believe the economy is strong? Are you seeing anything in the data - maybe in footnotes, commentaries, quotations - that would indicate certain officials know full well that they’re ‘spinning’ the data to make the economy look better?
There is always a certain amount of spin, but Jay Powell is too consistent with his prattling about "raising interest rates" and other people like Richmond Fed President Tom Barkin too consistent about the need for the economy to have a nice good recession with plenty of economic privation to go around in order to bring down inflation. I am of the opinion they have now drunk so much of the Kool-Aid they can no longer tell the propaganda from the reality, even if they ever could.
Because you mentioned Curtis Lemay last week, I’d like to tell you a tiny bit of military trivia that probably isn’t recorded in any history book. General Lemay was my father-in-law’s commanding officer during WW2. Fred Billingsley, who retired a lieutenant colonel, served under Lemay primarily as a navigator, but he also was the test pilot for the prototype of the Enola Gay (just for the prototype, not for the actual Enola Gay). Of course, he knew nothing about the Manhattan Project, or what this new plane was for. But years later, he told his son (my husband) that when he saw the size of those huge bomb bay doors, he knew that the Allies had come up with ‘some very special new weapon’.
A cynic (and that would be me) would figure that Biden and his minions are touting the ‘strong economy’ because we’re coming into an election year, and they want to remain in power. But I’m left wondering just how much do THEY believe the economy is strong? Are you seeing anything in the data - maybe in footnotes, commentaries, quotations - that would indicate certain officials know full well that they’re ‘spinning’ the data to make the economy look better?
There is always a certain amount of spin, but Jay Powell is too consistent with his prattling about "raising interest rates" and other people like Richmond Fed President Tom Barkin too consistent about the need for the economy to have a nice good recession with plenty of economic privation to go around in order to bring down inflation. I am of the opinion they have now drunk so much of the Kool-Aid they can no longer tell the propaganda from the reality, even if they ever could.
An insightful answer.
And I wanted to say, Mr. Kust, Happy Veteran’s Day. Thank you for your service!
Because you mentioned Curtis Lemay last week, I’d like to tell you a tiny bit of military trivia that probably isn’t recorded in any history book. General Lemay was my father-in-law’s commanding officer during WW2. Fred Billingsley, who retired a lieutenant colonel, served under Lemay primarily as a navigator, but he also was the test pilot for the prototype of the Enola Gay (just for the prototype, not for the actual Enola Gay). Of course, he knew nothing about the Manhattan Project, or what this new plane was for. But years later, he told his son (my husband) that when he saw the size of those huge bomb bay doors, he knew that the Allies had come up with ‘some very special new weapon’.