"The mammoth climate law that serves as the linchpin of President Joe Biden’s economics program has ignited a new zeal among leaders around the world for the kind of winner-picking, subsidy-flush governing that has been out of fashion in many countries for the past 40 years.”
“The Inflation Reduction Act’s mix of lavish support for clean energy technologies and efforts to box out foreign competitors is also promoting a kind of green patriotism — and even some politicians on the right, at least outside the U.S., say that’s a climate message they can sell.”
Bidenomics hasn’t made it down to rural areas yet where transportation costs are much higher. Urban areas are really doing well though, inflation is largely gone now. Wages are higher across the board, though college graduates are seeing a higher rate of return compared to low skilled workers in subpar industries.
Bottomline, Blue America is doing good, Red America is struggling.
I think it’s fair to regard the current systemic problems as unsolved and worsening while also acknowledging that ‘Bidenomics’, insofar as they’ve been able to be implemented at all, are a positive, even if not the one we need.
Bit of an allegory for Biden himself and our current political situation, one supposes.
Yeah we were predicting 08 level or worse economic collapse for several years and now we’re in a situation where recession seems unlikely, union power is growing, inflation is significantly less bad than earlier in the year, and generally speaking it’s a hell of a lot better than expected. Biden isn’t going to go full Mao on the landlords, but for a 21st century democrat, he’s done better than expected.
Source?
Yes, please. We trust but we verify
Also Red America often struggles because they elect Red representatives who represent Russia and everyone but Americans who are entitled to their good-faith representation