Thread by @richardhine

Back in April 2019, as Trump’s reckless trade policies had already plunged US #manufacturing into recession, the Carnival-Barker-in-Chief continued his hyping of the “Trump Economy” by tweeting “JOBS! JOBS! JOBS!” to celebrate the creation of 196,000 #jobs in March 2019. (1/x)

Trump's “JOBS! JOBS! JOBS!” tweet ignored the the fact that when Obama was President, Trump responded to a sub-200,000 jobs report by telling us it was “not a good sign” and “we could be facing another #recession.” (2/x)

The Obama-Biden recovery powered on for several years beyond Trump’s 2012 prediction of recession. It was an expansion strong enough even to survive 3 years of Trump’s corruption and incompetence. In July 2019, the Obama-Biden recovery became the longest US expansion ever. (3/)

The Obama-Biden recovery ended only after Trump’s dumb trade wars & economic mismanagement led us into the recession that began, pre-lockdowns, in Feb. 2020.

After that, thanks to Trump’s psychopathic recklessness in the face of the oncoming pandemic, things got much worse. (4/)

Trump botched the Covid response. Jared Kushner tried and failed to cause a “Blue State Genocide.” The economy crashed.

Under Trump, U.S. GDP plunged 3.5% in 2020, which was the worst year for jobs since World War Two. (5/x) thedailyedge.substack.com/p/worst-year-e…

And after a crushing election defeat and a failed coup attempt, Trump left office in shame, having cost the country 3M jobs over 4 years.

Trump also mortgaged our future, adding $8T to the debt & exposing the hypocrisy of Tea Party GOP’s pretense of “fiscal conservatism.” (6/x)

Under Biden, our economy roared quickly back to life.

Washington Post: "The U.S. economy grew by 5.7% in 2021, the fastest full-year clip since 1984, roaring back in the pandemic’s second year despite two new virus variants that rocked the country." (7/x) washingtonpost.com/business/2022/…

On Friday June 3, the May 2022 #jobsreport smashed expectations, with 390,000 #jobs created vs. Wall Street’s expectations of 328,000 jobs.

Trump would have called it YUUUUGE. (8/x) cnbc.com/video/2022/06/…

As economist @JustinWolfers noted in a Twitter thread: "Over the past three months, payrolls growth has averaged +408k per month. That's a cracking pace. The fact that it's not slowing will likely concern the Fed." (9/x) #Jobs #Biden

https://twitter.com/JustinWolfers/status/1532702336971333638

.@JustinWolfers also pointed out the vast disconnect between media coverage of the #economy and actual economic reality. (10/x) #Biden #Jobs

https://twitter.com/JustinWolfers/status/1532707789021368320

That disconnect was reinforced by @SimonWDC, who pointed out that:

33.8M jobs were created in 16 years of Clinton & Obama

1.9M jobs were created under 16 years of two Bushes & Trump

8.7M jobs have already been created in Biden’s first 16 months (11/x)

https://twitter.com/SimonWDC/status/1532707784952774656

As @SimonWDC points out:

Biden has already created FOUR times more #jobs than the last three Republican Presidents COMBINED.

On a monthly basis, Biden’s job creation rate—543,000 jobs per month—is 50X that of the last three Republican Presidents. (12/x)

https://twitter.com/SimonWDC/status/1532710859172192257

Even before Covid hit, I wrote several articles on #Substack detailing how badly the media was failing us by parroting Trump’s lies and about the economy without actually highlighting the weakness that was already apparent.

Here's one example: thedailyedge.substack.com/p/dont-believe… (13/x)

In 2022, the media is going overboard to promote the opposite idea—hyping a #recession before it starts and that may never happen. Once again they’re parroting a viewpoint popular with Fox News and the GOP--and the troll who has assumed Trump’s Twitter mantle, Elon Musk. (14/x)

A recession will inevitably happen at some point.

But despite the complete opposite being true right now, the media has most people convinced that we’re already living in a downturn.

As @JustinWolfers says: "THIS IS BANANAS"!!(15/x)

https://twitter.com/JustinWolfers/status/1533639146824155136

Lost in the current media narrative is the historic job creation still been happening under Biden.

Our unemployment rate had the biggest one-year drop ever in 2021.

8.7M jobs have already been created.

Monthly jobs numbers blew away expectations again JUST LAST FRIDAY. (16/x)

In summary:

1. Despite what the media is telling you, WE ARE NOT in a recession.

2. If anyone ever deserved to tweet “JOBS! JOBS! JOBS!” it’s President Biden.

This thread is expanded on here in this free article. Thanks for reading & sharing! (17/17)
thedailyedge.substack.com/p/jobs-jobs-jo…