Drunk Real Estate E79. Breaking Down Biden’s Economy and Trump’s SEC Pick
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Jan 9, 2025 Dive into the impact of Biden's presidency on the economy, tackling inflation, national debt, and job growth with humor and insight. Discover how COVID-19 reshaped recovery, and explore the disconnect between rising wages and inflation. Unpack Trump's SEC pick, Paul Atkins, and what it could mean for U.S. markets. The conversation flows from economic policies to investment access, all while the hosts sprinkle in light-hearted banter and personal anecdotes. It's a lively mix of serious analysis and comedic moments!
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Presidential Impact on Economy
- Presidents don't directly impact economic factors like inflation or debt.
- These impacts often lag, influenced by previous administrations or external events like COVID-19.
Inflation Comparison Across Presidencies
- Inflation, significantly driven by money printing, was a major negative during Biden's term, exceeding 21% over four years.
- This contrasts with 7.8% under Trump and 5.2% during Obama's second term, highlighting the severity of recent inflation.
Real GDP Growth Under Biden
- Real GDP growth, adjusted for inflation, was positive under Biden, exceeding $2.5 trillion.
- This surpasses growth under Obama and Trump, suggesting genuine economic expansion despite high inflation and debt.