16 month low for mortgage rates. US 30-year mortgage rate falls to lowest since April 2023 https://finance.yahoo.com/news/us-30-mortgage-rate-falls-110958527.html
Grab up all the Joe Biden "I Did That" stickers you can find and start posting them. Gas prices are falling fastest in these states https://www.cnn.com/2024/08/30/business/gas-prices-labor-day-inflation/index.html
New jobless claims drop as the Biden Economic Armageddon™ continues. Fewer Americans file for jobless claims as US labor market continues to defy elevated interest rates https://apnews.com/article/unemploy...ayoffs-labor-75e1a0e0eb737a298b5e71b1965bfac3
President Biden's economic policies resulted in a huge inflection, and people still feel it. The great American economy brought miserable results for low-income people.
Biden inherited a Pandemic that saw gas prices rise as people slowly stopped working remotely...needing to drive their cars to work. Retail Gas Prices reached their peak in 2022 and has been falling since the WHO declared the Pandemic is over (no longer a Pandemic). In contrast, Trump inherited low retail gas prices when he took office in 2016. Today, although not the average...several states are now seeing their Retail Gas Prices back down to the "average levels" when Trump was in office. Yet, today's average Retail Gas Prices are still higher than Trump's average Retail Gas Prices...today's average retail gas prices are still declining (lower than shown on the below chart). Also, another watched price...Airplane Fare Prices are down too. It cost less (-5.1%) to fly today in comparison to flying this time last year and less this time two years ago. I fly a lot between France, Canada, and the United States...exception was during the Pandemic. I did not fly at all and I rarely drove in 2020 when Retail Gas Prices were low in the above mentioned three countries although I was stuck in Canada. wrbtrader
Again, the prices are declining from the ski-high levels of Biden's economy. You can see it on your own picture very well. It is a UGE progress. Not.
First, I didn't say prices did not reach high prices. Instead, I gave a reason for WHY it did such in several countries (France, Canada, and the United States) during the Pandemic. It was the same for many other countries in the global markets during the Pandemic when their employees began going back to work in a very difficult global economy that the United States performed much better than other countries like France. More importantly, I gave a reason as to WHY Trump had low retail gas prices...Trump inherited low gas prices from the prior administration and then Trump was lucky to see those retail gas prices remain low when the Pandemic occurred in 2020. Retail Gas Prices remained low because Trump's administration shut down the economy...people were not driving, and transportation like the airline industry came to a halt. It was a Pandemic....retail gas prices would have reach their highs if Trump had magically won in November 2020. Yet, High Gas Prices would have still hit many global economies regardless of who won. Yet, Biden won and inherited a fucking mess from the Pandemic that he did not create. Once again, Trump inherited low retail gas prices and then his actions of shutting down the economy kept retail gas prices low until President Biden took over and had to fix the Pandemic mess. In fact, other economies have not performed as well as the United States when their retail gas prices plunged from those high prices because as an example...France's Retail Gas Prices have bounced back up while the United States continues to decline. Just as bad, Trump used fear-mongering to warn the current Biden administration and misled his supporters that the Biden administration should not use our reserves (1 million barrels from our Northeast reserves in May 2024) to bring gas prices down because Trump stated it would later cause INFLATION and MASS UNEMPLOYMENT like never seen before. France Gas Prices Canada Gas Prices With that said, since Trump's fear-mongering about using our reserves back in May 2024 to help Americans with their "cost of living"... Where's that INFLATION and MASS UNEMPLOYMENT like never seen before since the Biden administration ignored Trump's fear-mongering back in May 2024 ??? Note - I'm not going to post Inflation and Unemployment charts since May 2024. I'm sure you have access to those charts on your own considering this is a trader's forum. In my opinion, Trump should just stay on script and talk about Immigration issues considering most Americans are worried about that instead of going off script to relitigate his civil & criminal trials involving women. America is no longer worried about retail gas prices now in comparison to their worries when they saw how fast & high retail gas prices rose when they returned to work during the Pandemic...there was just too much of a DEMAND in a very short duration of time. They also know that our northeast reserves have been released and other reserves could be released if needed to keep retail gas prices declining instead of believing Trump. World economies including the United States will never see retail gas prices like what we experienced before 2001-2003 or before the Iraq War until the demand declines in global markets back to what we had before 2001-2003. We need to adapt whenever the DEMAND for gas begins to creep back up in our economy...something most Americans are not willing to do considering more Americans are living further away from where they work and shop for groceries. It's called the Work-Live Gap. Yet, some Americans are trying to adapt considering there are more EV vehicles on the road today than ever before. wrbtrader