Still kind of incredible how much more postpandemic growth the US has achieved than Europe — without higher inflation - ThreadSky

pkrugman.bsky.social • 191 days ago

Still kind of incredible how much more postpandemic growth the US has achieved than Europe — without higher inflation

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jayfb.bsky.social•191 days ago

Which requires some explanation! Seems very strange to me. And also, why are all the other OECD clustered together? None close to US. Even Canada. Going to require someone much smarter than I am to actually explain without just hand waving.

thesoundings.bsky.social•191 days ago

Austerity vs Investment...

nafnlaus.bsky.social•191 days ago

To be fair, there's kind of been something else going on in Europe that affects them more than the US.

nafnlaus.bsky.social•191 days ago

I mean, it's almost like something happened at this point that, say, plunged the continent into an energy crisis.

(To be fair, it's a crisis of their own making due to an insane level of hubris and trust in an authoritarian regime, and the intense strength of domestic NIMBYism)

tmcatee.bsky.social•191 days ago

THIS

toxteth1.bsky.social•191 days ago

"Sleepy Joe" FTW...

ilthea.hackandarrow.com•191 days ago

Do you know that Germany is not a whole continent? This is the equivalent of comparing EU vs Texas.

deeso.nom.es•191 days ago

It's cherry picking at its best.

surfingthepast.bsky.social•191 days ago

Ok put up numbers for the whole EU or for the OECD. See if it’s any better. Germany is usually the strongest economy of Europe.

jankow.bsky.social•191 days ago

But it very much isn't right now, it's actually doing the worst in Europe (maybe aside UK). I have to concede that other EU members probably also wouldn't reach the US growth numbers atm but comparing with Germany is a comparison with an outlier at this point in time.

surfingthepast.bsky.social•191 days ago

I mean ok if you want to be pedantic about it.

alpinemigrant.bsky.social•191 days ago

So why are Americans still so angry then?

mikevago.bsky.social•191 days ago

Because apart from a few exceptions like Dr. Krugman, the media only says positive things about the economy when a Republican’s in office.

therunepony.bsky.social•191 days ago

Fr, according to the media you'd think we never recovered from the 2008 crisis until 2016 when suddenly Trump's election (before he even took office) magically kickstarted the economy.

unclecracker.bsky.social•191 days ago

Because we Americans are fed a constant stream of lies from the supposedly “liberal” press who, for near-sighted reasons of profit, want Trump to win. Plus, my fellow Americans have perfected the art of bitching about hunger with a loaf of bread under each arm! My countrymen are not very bright

joestclairford.bsky.social•191 days ago

Unequal distribution. Same reason people are angry everywhere.

sorocchungus.bsky.social•191 days ago

Americans are v sus

fvehafric.bsky.social•191 days ago

Macro economic data doesn't seamlessly translate to people's lived experience. If I'm working and my rent is too high, it doesn't really mean much to me if the unemployment rate moves from 7% to 3%. Similarly with GDP or stock indexes.

symbo1ics.bsky.social•191 days ago

holy shit let go of this single daft metric & read the room, writer man

ritodeltaro.bsky.social•191 days ago

great economy, can still barely afford food & rent, everyone I know is struggling, and inflation sure as hell is affecting us at the grocery store.

The economy can eat my ass.

hdgregg.bsky.social•191 days ago

Who benefits?

tomstpatrick.bsky.social•191 days ago

Preach! GOP hates facts, hit them with facts.

ttfe.bsky.social•191 days ago

The US war on Europe is working.

bicycle.bsky.social•191 days ago

another Germany L

kmagnacca.bsky.social•191 days ago

Serious question: why are things still so much cheaper in Europe (Japan as well) if inflation was worse there? Lower growth keeps wages down independent of inflation?

ccquilts.bsky.social•191 days ago

Homelessness is way up too.

krlcomm.bsky.social•191 days ago

It’s because the adults are in charge.

We need to keep it that way.

VOTE!

unclecracker.bsky.social•191 days ago

“That damn Joe Biden! Worst economy EVER!!
- Larry Kudlow and his band of bootlickers

douglasrivlin.bsky.social•191 days ago

Our strength and secret sauce is immigration.

contaminatedsci.bsky.social•191 days ago

How do these graphs change if you take housing prices out of GDP?

alonlevy.bsky.social•191 days ago

Germany was much more exposed to Russia, so the supply shock of 2022 was larger. So we lost two years of economic growth, but also unemployment is 3.8%; this isn't 2009.

daniel12345.bsky.social•191 days ago

And we work less
+70% sick leave in 5 years

daniel12345.bsky.social•191 days ago

https://www.zeit.de/wirtschaft/2024-01/krankmeldungen-hoechststand-wirtschaft-schaden-rezession

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