For over a year the outlook on the economy has been dire for Biden who is looking for re-election in November….the American people have not been happy with the economic landscape but that may be changing…..

President Biden has been dogged for much of the past year by what the Economist calls an “emotional disconnect” on the economy. Growth has been strong, but Americans have remained in a lousy mood about money, thanks largely to high prices across the board. Now, however, a closely watched gauge suggests that might be changing.

• Key stat: A monthly survey of consumer sentiment by the University of Michigan came in at 79.6 in February, its highest mark since the summer of 2021, reports Quartz. What’s more, the collective increase over the last three months is the biggest in more than three decades, notes the Economist.
• Vibes: “We do think about vibes, because historically the vibes—consumer sentiment and business sentiment—have been good predictors of consumer spending and business investment,” said Chicago Fed president Austan Goolsbee recently. In the view of Quartz, the Michigan stats suggest the “American vibes recession is over.”
• Politics: All of which is good news for Biden in theory, reports the New York Times, which talks to economist Neil Dutta. “If sentiment simply hovered at today’s levels, he said the simple historical relationship between consumer confidence readings and incumbent vote share would give Mr. Biden about 49% of the vote,” per the story in January. “But the job market is strong, gas prices are moderate, and the stock market just hit a new record, all of which could drive further improvement.” In fact, sentiment as measured by the Michigan survey ticked up from 79 to 79.6 since he spoke.
• Then again: It’s an unusual election. “Geopolitics and domestic issues could throw curveballs into this cycle, too,” writes Lora Kelley at the Atlantic. “That consumers seem more upbeat about the economy is certainly not unwelcome news for Biden, but a lot can happen between now and November.”

Great news for all those Biden aficionados (I am not one of them….to me he is teetering old man that needs to be in a rest home)….and those that are afraid that Donald the Orange will get elected for a second term.

But like they say….it is a long way to November and a lot can happen before the day of the vote.

A side note:  Speaking of presidents…..which are the ones with the best rankings?

In honor of Presidents’ Day, the 2024 Presidential Greatness Project Expert Survey polled 154 historians on the subject of presidential rankings—and Donald Trump came in last, again. President Biden, despite his current approval rating sitting at around 37%, came in 14th, the New York Times reports. “Biden’s most important achievements may be that he rescued the presidency from Trump, resumed a more traditional style of presidential leadership, and is gearing up to keep the office out of his predecessor’s hands this fall,” wrote the college professors who conducted the survey. Coming in at No. 1 was Abraham Lincoln, who also topped the same survey in 2015 and 2018, Fox News reports.

• Abraham Lincoln, 93.87
• Franklin Delano Roosevelt, 90.83
• George Washington, 90.32
• Teddy Roosevelt, 78.58
• Thomas Jefferson, 77.53
• Harry Truman, 75.34
• Barack Obama, 73.8
• Dwight Eisenhower, 73.73
• Lyndon Baines Johnson, 72.86
• John F. Kennedy, 68.37

Other notable presidents who ranked below Biden include Woodrow Wilson (15th), Ronald Reagan (16th), and Ulysses S. Grant (17th). Bill Clinton finished 12th, George W. Bush 32nd, and Jimmy Carter 22nd. According to the survey, respondents’ political affiliation and ideology did not “make a major difference overall,” with the most notable partisan splits coming for the more recent presidents. Trump is “by far the most polarizing president,” write the historians. His numerical score was 10.92, compared to Biden’s 62.66.

Not my list for I would have put Jefferson and Truman further down the list.

But Washington never had gold sneakers.

Just food for thought.

I Read, I Write, You Know

“lego ergo scribo”