Meanwhile, Biden’s new de facto vaccination mandate is a quiet economic stimulus policy that, despite the controversy surrounding it, will truly make life more normal for millions of Americans. New antivirals from Pfizer and Merck will bring even more artillery to the fight against COVID in 2022. Young people are at much lower risk of serious illness than the elderly, but the mass vaccination of children will help the US avoid a repeat of what is happening in the UK, where the cases rising among unvaccinated children. The approval of vaccines for children should allay parents’ fears and help schools return to normal, if schools and parents so choose.
The supply chain meshugas won’t end before Christmas, but no one I’ve talked to expects it to last a whole year.ĭerek Thompson: America is running out of everything As pandemic savings wane, more people are likely to be employed, which will reduce labor shortages and help companies expand their workforce. This is a good sign that Delta’s fears (such as Delta cases) are easing and the service economy is returning to normal. The US economy added 531,000 jobs in October. The atmosphere is bad and the Democrats are suffering for it.įor now! But maybe we’ve reached an inflection point of the vibe. An economist can tell you that things are going well technically. Consumers vote, hiring managers vote, and overworked service economy employees who deal with rude customers vote, and right now it stinks to be one of those people. But bank accounts don’t vote, and nominal GDI charts currently have no representation in the Senate. Today it is good to be a savings account, or graph of nominal gross domestic income. Meanwhile, the Delta variant destroyed promises of a hot vax summer and the president’s approval rating has refueled. Gas prices are striking, not only because people buy a lot of them, but also because these are the only prices printed in 3,000 points nationwide - and they’ve risen far under Biden. One measure of consumer confidence – purchasing conditions for consumer durables – has cases to its lowest level in about 40 years. Independents say they are just as despondent about the economy as they were during several months of the Great Recession. Still, the supply chain has made shopping more difficult and the incipient inflation has made what we can buy more expensive. With having incentive checks, unemployment insurance, student loan waivers, and other savings, Americans say that their finances are in order.Īnnie Lowrey: America has failed at COVID-19, but the economy is okay. The unemployment rate today is lower than it was in most of the 2010s. Consumer demand is skyrocketing and Americans are collectively spending more money than ever on hard goods. How are vibes different from what we’ve historically called economic? basics? Can President Joe Biden Make a Comeback After Losing the First Decisive Battle of the Vibes War? And why do we always have to? name stuff? Despite many positive economic trends, Americans feel bad about the state of affairs - and understandably blame the party in power. Democrats lost because of something bigger than any demographic or issue. Compared to the 2020 election, support for Democrats declined across states, genders, ethnicities and provinces. The turn against the Democrats wasn’t limited to parents, or Virginia, or white women. To explain Democrats’ poor performance in Tuesday’s state and local elections, several commentators made very specific claims: mostly about critical race theory, or especially about Terry McAuliffe’s failings as a candidate for governor of Virginia, or usually about white women in the suburbs vote like it’s 2012 again.īut none of these explanations are completely satisfactory.
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