Welcome to Biden world.
Inflation is modest (3.4%). Economic growth is high (4.9% annualized, seasonally adjusted). Unemployment is low (3.8%).
Teen birth rates in the U.S. are at an all time historic low.
Violent crime was near a 25 year low before the pandemic in 2019, and is returning to the trend line after a pandemic surge:
The murder rate in big cities that bounced up in the pandemic (2020-2021) has fallen again (down 5% in 2022 and down another 12% so far this year compared to the same time period in 2022) to return to almost pre-pandemic levels.
The war on marijuana is almost over and Biden is working to remove its Schedule I controlled substance status (which would end punitive federal taxation of the industry and allow marijuana businesses to use banks):
Russia's conventional military might has crumbled and NATO is stronger. The U.S. is out of Afghanistan. Israel's continued existence is not seriously threatened. China has not invaded Taiwan.
COVID deaths are way down.
More than a thousand people have been held criminally accountable for the January 6, 2021 attempted self-coup and even the people at the top are being held accountable.
Bad cops are being held accountable at much higher rates in recent years.
Coal consumption in the U.S. is down more than 50% from its 2008 peak, and continues to fall. Renewable generation surpassed coal and nuclear in the U.S. electric power sector in 2022:
According to J.D. Powers & Associates:
Sales of electric vehicles (EVs) in the United States rose by two-thirds in 2022, comprising 5.8 percent of all new vehicles sold. This represents a significant increase from the 3.2 percent market share in 2021.
This is expected to increase substantially again in 2023.
Hi Andrew, That's a good looking picture. As many folks have noted over the years "It's the economy, stupid!"
ReplyDeleteOne small comment on the last graph, I expect the utility solar line to shoot up like a rocket. Some folks (IEA) suggest solar overtaking wind in 2027, but my eyeballs say 2025 for the US.