Throw in 16 million plus jobs, solid wage growth, and stock market indexes at or near record high and you get an economy that is literally the envy of the rest of the world even as the media has shit talked it from the day Biden and Harris took office.
Trumpys are just desperate for the 3 million jobs he lost and laughable pandemic response đ
My purchasing power has decreased significantly in the last 4 years and Iâve given up almost completely on the idea of home ownership.
Yes-the YOY inflation rate has gone down, but the dramatic increase in prices since 2020 is still being felt across the board.
But what if instead I could vote for someone promising historically large tariffs while literally not understanding how they work?
I’m not saying this is gonna happen again, but let’s not get too far ahead of ourselves yet…
You do notice that the âdecline in deflation â is still twice as high as the lowest point in 2019? When the Biden Administration talks about inflation going down, he just means the rate of inflation is going down. People are still paying substantially more that in 2019.
im not too sure about this lol many economists say the stock market is over inflated only a matter of time before we pay the piper. printing all that money and flooding the market with it in 2020-2023 wasnt good. now we are seeing so many companies laying off people just had a revised jobs number come in down 800k few jobs then what was reported earlier.
lol we’re not there yet. Interest rates just started dropping.
So far
Presidents donât single handedly control the economy
Were not out of the woods yet. We got a potential government shutdown incoming and should be wary of a recession in the next 6-9 months.
They question is WHY should they be given credit? Or WHO should be given credit? WHAT caused inflation? Was there a tulip craze that I’m unaware of?
They think they will be just fine, their industry won’t be affected or their job position won’t be affected
The only thing that will change is more people unemployed so it won’t matter how much things drop in price, they can’t afford to buy it.
Businesses in rich people though, will continue to be just fine because they have the capital to be just fine. They will buy up houses and buy up competing businesses consolidating it and then raising prices when the time arises.
Does the current situation suck? Of course but a recession won’t fix it, it will just make it worse.
Sometimes you have to remind yourselves that the grass isn’t always greener on the other side…
Vote Jill Stein and start building a serious left party for 2028 so we can stop the race to the bottom and avert climate catastrophe and nuclear winter.
When you drop a massive stone in a pond, the waves go up and down, and gradually get smaller.
Covid stimulus was that massive stone.
The plunge was “everyone getting free money (one way or the other)”, then:
The first big wave peak in the opposite direction:
Stock market rally into Covid supplies and cleaning products, housing and Bitcoin
Then, the first trough: supply chain failure, interest rates go up
Second peak: Traveling is back on yall
Second trough: Office real estate dying
Third peak: Interest rates lowered as a signal to keep on borrowing
Third trough: War breaks out? Civil war breaks out? Or just mass unemployment?
Maybe my timeline is wrong, but you get my drift.
Thing is your average consumer is gonna still blame the president no matter what party. I canât blame them considering how life is right now, cause this is the new baseline. Our wages need to go up.
Yes a recession sucks, yes economic downfall would be horrible. But letâs not hide under the sand and act like right now the cost of living isnât screwing us over. I just hate how a politicians are acting the âeconomy is good right nowâ donât gas light the nation.
Letâs wait on the âno recession talk â yes most likely not ,however they did a big drop in rates when they could have done 25 a month. Despite what JP said, they might see something we donât.
Doesnât the fed deserve most of the credit?
This is due to the actions of the federal reserveâ not the Biden/Harris admin. Every single item I need to buy on a daily basis is much less affordable and the big ticket items are almost out of reach. Our country cannot afford 4 more years of this.
No credit given. The start of the recession happened last week with the fed dropping rates 50 basis points. Strong economies donât need 50 basis point drops.
The inflation numbers are being massaged to paint a narrative. Everyone that reads this has experienced overall inflation higher than what the government is reporting.
All this spending, I would be down to increase taxes to pass a home building bill. I just want a home!!
This has more to do with JPow than the current or former president.
We need a decline in real prices, not just a decrease in the rate real prices are rising.
The administration had nothing to do with it. Credit the Fed in part, and the American consumer.
theyve changed the criteria for inflation drastically. Iâd like to see the numbers using the previous model
We had a recession though. They just changed the rules so it wouldnât be called one.
28 comments
Throw in 16 million plus jobs, solid wage growth, and stock market indexes at or near record high and you get an economy that is literally the envy of the rest of the world even as the media has shit talked it from the day Biden and Harris took office.
Trumpys are just desperate for the 3 million jobs he lost and laughable pandemic response đ
My purchasing power has decreased significantly in the last 4 years and Iâve given up almost completely on the idea of home ownership.
Yes-the YOY inflation rate has gone down, but the dramatic increase in prices since 2020 is still being felt across the board.
But what if instead I could vote for someone promising historically large tariffs while literally not understanding how they work?
I’m not saying this is gonna happen again, but let’s not get too far ahead of ourselves yet…
[https://www.reuters.com/article/business/bernanke-fed-is-not-forecasting-a-recession-idUSWBT008182/](https://www.reuters.com/article/business/bernanke-fed-is-not-forecasting-a-recession-idUSWBT008182/)
BAAAAHAHAHAHAHA!!!!
Don’t show a curve of momentary inflation. Show CUMULATIVE inflation.
They get get credit for blowing up the dollar and ruining the budget.
Bidenomics is also an almost exact copy & paste from the Trump Administration when it comes to tariffs and industrial policy.
https://www.cato.org/regulation/fall-2022/bidens-protectionism-trumpism-human-face
You do notice that the âdecline in deflation â is still twice as high as the lowest point in 2019? When the Biden Administration talks about inflation going down, he just means the rate of inflation is going down. People are still paying substantially more that in 2019.
im not too sure about this lol many economists say the stock market is over inflated only a matter of time before we pay the piper. printing all that money and flooding the market with it in 2020-2023 wasnt good. now we are seeing so many companies laying off people just had a revised jobs number come in down 800k few jobs then what was reported earlier.
lol we’re not there yet. Interest rates just started dropping.
So far
Presidents donât single handedly control the economy
Were not out of the woods yet. We got a potential government shutdown incoming and should be wary of a recession in the next 6-9 months.
They question is WHY should they be given credit? Or WHO should be given credit? WHAT caused inflation? Was there a tulip craze that I’m unaware of?
The vast majority of people [overestimate their own abilities](https://www.apa.org/monitor/feb03/overestimate) which is why they want a recession
They think they will be just fine, their industry won’t be affected or their job position won’t be affected
The only thing that will change is more people unemployed so it won’t matter how much things drop in price, they can’t afford to buy it.
Businesses in rich people though, will continue to be just fine because they have the capital to be just fine. They will buy up houses and buy up competing businesses consolidating it and then raising prices when the time arises.
Does the current situation suck? Of course but a recession won’t fix it, it will just make it worse.
Sometimes you have to remind yourselves that the grass isn’t always greener on the other side…
Vote Jill Stein and start building a serious left party for 2028 so we can stop the race to the bottom and avert climate catastrophe and nuclear winter.
When you drop a massive stone in a pond, the waves go up and down, and gradually get smaller.
Covid stimulus was that massive stone.
The plunge was “everyone getting free money (one way or the other)”, then:
The first big wave peak in the opposite direction:
Stock market rally into Covid supplies and cleaning products, housing and Bitcoin
Then, the first trough: supply chain failure, interest rates go up
Second peak: Traveling is back on yall
Second trough: Office real estate dying
Third peak: Interest rates lowered as a signal to keep on borrowing
Third trough: War breaks out? Civil war breaks out? Or just mass unemployment?
Maybe my timeline is wrong, but you get my drift.
Thing is your average consumer is gonna still blame the president no matter what party. I canât blame them considering how life is right now, cause this is the new baseline. Our wages need to go up.
Yes a recession sucks, yes economic downfall would be horrible. But letâs not hide under the sand and act like right now the cost of living isnât screwing us over. I just hate how a politicians are acting the âeconomy is good right nowâ donât gas light the nation.
Letâs wait on the âno recession talk â yes most likely not ,however they did a big drop in rates when they could have done 25 a month. Despite what JP said, they might see something we donât.
Doesnât the fed deserve most of the credit?
This is due to the actions of the federal reserveâ not the Biden/Harris admin. Every single item I need to buy on a daily basis is much less affordable and the big ticket items are almost out of reach. Our country cannot afford 4 more years of this.
No credit given. The start of the recession happened last week with the fed dropping rates 50 basis points. Strong economies donât need 50 basis point drops.
The inflation numbers are being massaged to paint a narrative. Everyone that reads this has experienced overall inflation higher than what the government is reporting.
All this spending, I would be down to increase taxes to pass a home building bill. I just want a home!!
This has more to do with JPow than the current or former president.
We need a decline in real prices, not just a decrease in the rate real prices are rising.
The administration had nothing to do with it. Credit the Fed in part, and the American consumer.
theyve changed the criteria for inflation drastically. Iâd like to see the numbers using the previous model
We had a recession though. They just changed the rules so it wouldnât be called one.