Economy The dow rises to top 37,000 first time ever yeah. Dark Brandon hits again!

[RoastBeast]

The "personal experiences > data" part.

Absolute nonsense.

You realize that they were withholding a lot of pertinent information from those inflation charts to make it seem like inflation was less than the actual impact on the average American's wallet, right?

 

[koquerelle]

And yet you hacks can do nothing to defend the GOP's position here other than snide personal attacks. If the economy is so bad, can anyone explain why exactly unemployment is low, real wages are near an all-time high, the prime-age employment rate is near an all-time high, inflation is low, credit delinquency rates are low, wealth is up, and GDP growth is really strong? What does it even mean to say the "economy" is bad when everything that we usually think of when we evaluate it shows that it is extraordinarily strong? I know, I know, fuck me for questioning the narrative, but is there an answer?

I'm not defending the ridiculous GOP position one bit. They'll complain about anything Biden does. They'll even complain about things he has no influence on.

You said most people are happy with the economy. @Mr Holmes said you were wrong. You blamed the GOP and right wing media propaganda. Mr Holmes showed you were wrong with the survey. There are many democrats who also feel the numbers don't tell the full story. You then came up with an explanation as to why they feel this way and it felt to me you were dismissing their opinions.

I like the video @Rob Battisti posted because it gives a possible explanation as to why Americans (and Canadians btw) feel the way they do. The woman did something I haven't seen you do (You might have. I haven't seen it): she added the other elements and a solid dose of human reality to the numbers.

It's a massive understatement to say you know more about the economy than I do. I would simply like you to add other elements to your analyses. Let's look at the homeless numbers. Let's look at the number of families who now depend on food banks. Let's look at men and women who have to work 2 jobs to feed their children.

What did you think of the video Rob posted? I think she got a bit lost 2/3 of the way in, but wrapped it up nicely.

That being said, sorry once again for being a jerk to you and others here. I hope you all have great holydays and forgive my stupid ass!

 

[Rob Battisti]

I'm not defending the ridiculous GOP position one bit. They'll complain about anything Biden does. They'll even complain about things he has no influence on.

You said most people are happy with the economy. @Mr Holmes said you were wrong. You blamed the GOP and right wing media propaganda. Mr Holmes showed you were wrong with the survey. There are many democrats who also feel the numbers don't tell the full story. You then came up with an explanation as to why they feel this way and it felt to me you were dismissing their opinions.

I like the video @Rob Battisti posted because it gives a possible explanation as to why Americans (and Canadians btw) feel the way they do. The woman did something I haven't seen you do (You might have. I haven't seen it): she added the other elements and a solid dose of human reality to the numbers.

It's a massive understatement to say you know more about the economy than I do. I would simply like you to add other elements to your analyses. Let's look at the homeless numbers. Let's look at the number of families who now depend on food banks. Let's look at men and women who have to work 2 jobs to feed their children.

What did you think of the video Rob posted? I think she got a bit lost 2/3 of the way in, but wrapped it up nicely.

That being said, sorry once again for being a jerk to you and others here. I hope you all have great holydays and forgive my stupid ass!

She’s a very articulate economist who has testified before Congress many times. She probably agrees with Jack but since I posted it, he won’t watch it.

 

[fordman7795]

I am up 21% this year. I thought I was going to have a losing year around June, but have rallied bigly and most of that due to one stonk that if goes as plan will gets me a couple years closer to retirement. Roll the profits into something that pays a big dividend.
Honestly if you hold long enough you will always make money. Stay away from Penny Pharmas which are more likely miss than hit, because they run out of money before approval, or get sucked up cheap by the Big Dogs. Only gamble on 1 or 2 small caps.
Those that usually lose money is the Regards that play options, myself included. I am probably 60% on options, but what I made on $RIVN in the middle of the year has paid for more than what I lost on options this year. I got a long call on $CSCO that is paying bigly, so that should pay for my option gambles next year.
The only President that was shitty with the stock market out of the recent Presidents is Bush Jr.
Clinton was the GOAT but I was not in the stock market then.

There is a stock thread on Sherdog in the War Room, that if you pay attention you can get some stock ideas which can make you money.
Brackis (RIP) and @HOLA made me some money off their posts. Not all is positive, took $SMSI from a poster there and that was an ass fucking to my wallet. Not really his fault, I researched it, and they had all their eggs if a few baskets and one of the baskets left them.

+21.3% crew checking in

 

[ferrisjso]

I'm not defending the ridiculous GOP position one bit. They'll complain about anything Biden does. They'll even complain about things he has no influence on.

You said most people are happy with the economy. @Mr Holmes said you were wrong. You blamed the GOP and right wing media propaganda. Mr Holmes showed you were wrong with the survey. There are many democrats who also feel the numbers don't tell the full story. You then came up with an explanation as to why they feel this way and it felt to me you were dismissing their opinions.

I like the video @Rob Battisti posted because it gives a possible explanation as to why Americans (and Canadians btw) feel the way they do. The woman did something I haven't seen you do (You might have. I haven't seen it): she added the other elements and a solid dose of human reality to the numbers.

It's a massive understatement to say you know more about the economy than I do. I would simply like you to add other elements to your analyses. Let's look at the homeless numbers. Let's look at the number of families who now depend on food banks. Let's look at men and women who have to work 2 jobs to feed their children.

What did you think of the video Rob posted? I think she got a bit lost 2/3 of the way in, but wrapped it up nicely.

That being said, sorry once again for being a jerk to you and others here. I hope you all have great holydays and forgive my stupid ass!

He thinks people left of center who hate Biden either aren't real or we are "an insignifgant minority".

 

[plataoplombo]

I know the fed or the administration said we're all millionaires, but honestly, I don't know too many people that are doing good financially right now.

 

[plataoplombo]

Economy is doing great for the asset owner class, what else is new? Meanwhile the vast majority of people have struggled to have wages rise to cover cost of necessities.

They are different measurements. Seems like most everyone I know, and everyone they know, are having to work longer/harder to afford the same shit they buy for their day to day lives.

This right here.

 

[JudoThrowFiasco]

Gross Gains for the investor class is going to be constantly positive over a 4 year time period regardless if it's a dem or republican in the white house. The difference is net which has a lot to do with taxes and that's where the separation lays

 

[Jack V Savage]

I'm not defending the ridiculous GOP position one bit. They'll complain about anything Biden does. They'll even complain about things he has no influence on.

You said most people are happy with the economy. @Mr Holmes said you were wrong. You blamed the GOP and right wing media propaganda. Mr Holmes showed you were wrong with the survey. There are many democrats who also feel the numbers don't tell the full story. You then came up with an explanation as to why they feel this way and it felt to me you were dismissing their opinions.

I have never said that most people are happy with the economy. I said that most people are happy with their personal financial situation, and their impression of the broader economy doesn't (and cannot possibly) come from their personal experience. And further, the stats show that the economy is extremely good, but media narratives (especially but not only in the rightist media sphere) are negative.

I like the video @Rob Battisti posted because it gives a possible explanation as to why Americans (and Canadians btw) feel the way they do. The woman did something I haven't seen you do (You might have. I haven't seen it): she added the other elements and a solid dose of human reality to the numbers.

Canada's economy is much worse than ours, though! They can't be grouped together.

It's a massive understatement to say you know more about the economy than I do. I would simply like you to add other elements to your analyses. Let's look at the homeless numbers. Let's look at the number of families who now depend on food banks. Let's look at men and women who have to work 2 jobs to feed their children.

What did you think of the video Rob posted? I think she got a bit lost 2/3 of the way in, but wrapped it up nicely.

Couldn't watch it. I would add that poverty is largely separate from the strength of the overall economy. In developed countries, pre-transfer poverty is mainly about three groups of people who don't make market income: the elderly, children, and the disabled. That's about three-quarters of Americans living people in the poverty line pre-transfer, and the rates there are pretty similar across countries. Lowering poverty is largely a matter of transfers to those groups. The remaining quarter is people who pay for people in those groups, plus the short-term unemployed and young adults (college students mainly). So the current strong economy does lower that quarter, and America's rate has risen since the pandemic but is lower than it was in 2018 or any time between 2018 and 2004). It's up since the pandemic because there was a big spike in transfers (short-term relief related to the pandemic) that has receded. Homelessness is more of a regional issue and more related to housing costs (and the combination of strong general economies and low and artificially restricted housing supply in some areas has particularly sent homelessness soaring). It's an important issue but not one that a strong general economy can fix.

That being said, sorry once again for being a jerk to you and others here. I hope you all have great holydays and forgive my stupid ass!

Appreciated.

 

[Jack V Savage]

I know the fed or the administration said we're all millionaires, but honestly, I don't know too many people that are doing good financially right now.

See, to make the argument against the facts, you have to make up positions and attribute them to people. Most people I know are doing extremely well right now. But that's why we have to look at numbers to know what's going on.

"The Biden administration and liberal fact Nazis will tell you that median household income as of the latest period with available data is $74,580 and that growth has been stronger among the lower half of the distribution, but I know people who make less than that." Doesn't work, you know?

 

[plataoplombo]

See, to make the argument against the facts, you have to make up positions and attribute them to people. Most people I know are doing extremely well right now. But that's why we have to look at numbers to know what's going on.

"The Biden administration and liberal fact Nazis will tell you that median household income as of the latest period with available data is $74,580 and that group has been stronger among the lower half of the distribution, but I know people who make less than that." Doesn't work, you know?

Not taking positions, just legitimately stating what's been said and what's being felt in my region. Also, for me personally I'm definitely better off due to asset appreciation but at the same time my purchasing power is less due to inflation.

 

[blackheart]

Happy to finally see some movement in my 401k after it's done fuck all for more than a year.

 

[Jack V Savage]

This is a total aside, but I was thinking today...and this is hardly a novel thought I assume but your posts make me wonder...that Republicans (Conservatives) have a fundamental political advantage via ideology. Because they really don't want government to work, all they have to do is infiltrate it, make completely unrealistic demands without reasonable offers of compromise and when nothing happens and all else fails, apathy wins (Trumpism is essentially apathy masked by grievance, it's a "blow the whole thing up" movement at its core)...and Republicans, especially the current brand of Republicans, can say "see government doesn't work"...playing make believe that they tried.

These people don't value anything, definitely not facts that are antithetical to their ultimate goals.

Another asymmetry here is that there is a portion of the left that always thinks the economy is bad no matter what is happening. And Republicans swing wildly on the issue depending on who is in the WH, with no connection to anything else that is happening (like, there were no big changes in the economy from 2017 to 2018, but while Democrats went from 44% thinking it was good at the start of 2017 to 44% thinking it was good at the start of 2018--i.e., no change--Republicans went from 37% thinking it was good at the start of 2017 to 75% thinking it was good in 2018).

 

[Super_Nintendo]

so The Great Reset/scamdemic was the greatest transfer of wealth from the middle class to the elites in history? whodathunk?

"econOmy is dOing greAt!"

Billionaires made $3.9 trillion during the pandemic​

Billionaires made $3.9 trillion during the pandemic — enough to pay for everyone's vaccine

The increase in wealth of the 10 richest billionaires could pay for everyone worldwide to get the COVID-19 vaccine, per an Oxfam report on inequality.

www.businessinsider.com

Covid-19 has cost global workers $3.7tn in lost earnings, says ILO​

Covid-19 has cost global workers $3.7tn in lost earnings, says ILO

Women and young workers bear brunt of job losses and reductions in hours, says UN labour body

www.theguardian.com

 

[cottagecheesefan]

I remember in 2021 Biden and his team boasted that hotdogs were 13 cents down because of Biden.

Edit gonna add sources and it was 16 cents not 13

Lmfaoo bro, I remember this post and posted it in the inflation transitory thread as it happened at the time. Imagine a president coming out with adverts like that, “hey we saved you 10 cents on beans!”

Like is this the Great Depression in the mid west? The fuck?

And people say the president doesn’t do much, but uh, yea it did, with Biden doing executive orders on day one and having other ongoing policy that both restricts energy and also scares producers. It is simple as hell. And you can literally see it in the graph that corresponds with Biden taking office and doing such

us inflation rate bu year - Google Suche

As for inflation, all of this inflation has been “sticky “ meaning it will never go down. So even as inflation has cooled some, it is still high, and that is compunding previous years’ inflation.

You can see it in this clip from CNBC’s Rick Santelli. Basically you have lost 20% of your worth due to inflation, and that is if you’re lucky to even have net worth

 

[Rob Battisti]

I have never said that most people are happy with the economy. I said that most people are happy with their personal financial situation, and their impression of the broader economy doesn't (and cannot possibly) come from their personal experience. And further, the stats show that the economy is extremely good, but media narratives (especially but not only in the rightist media sphere) are negative.



Canada's economy is much worse than ours, though! They can't be grouped together.



Couldn't watch it. I would add that poverty is largely separate from the strength of the overall economy. In developed countries, pre-transfer poverty is mainly about three groups of people who don't make market income: the elderly, children, and the disabled. That's about three-quarters of Americans living people in the poverty line pre-transfer, and the rates there are pretty similar across countries. Lowering poverty is largely a matter of transfers to those groups. The remaining quarter is people who pay for people in those groups, plus the short-term unemployed and young adults (college students mainly). So the current strong economy does lower that quarter, and America's rate has risen since the pandemic but is lower than it was in 2018 or any time between 2018 and 2004). It's up since the pandemic because there was a big spike in transfers (short-term relief related to the pandemic) that has receded. Homelessness is more of a regional issue and more related to housing costs (and the combination of strong general economies and low and artificially restricted housing supply in some areas has particularly sent homelessness soaring). It's an important issue but not one that a strong general economy can fix.



Appreciated.

Why couldn’t you watch it?

Also if you take the position “most people are happy with their personal financial situation” where are you getting that data?

 

[HereticBD]

Also if you take the position “most people are happy with their personal financial situation” where are you getting that data?

It is a bit of a conundrum for his position that he's totally not pulling out of his ass, eh?

Must be one of those personal JVS polls he conducted in his head.

 

[ermac88]

Please explain to me how the Dow hitting a record helps me to pay 50% more for many of my groceries. @PEB

I think this is the case for most Americans

But I'm learning for wealthier Americans, even upper middle class Americans, the dow hitting a record high means more money for them

But I hear you.

As long as wealthier people are doing well in a capitalist country, the economy is overwhelmingly doing well.

 

[Jack V Savage]

Why couldn’t you watch it?

Also if you take the position “most people are happy with their personal financial situation” where are you getting that data?

TikTok.

For example: https://www.axios.com/2023/08/18/americans-economy-bad-personal-finances-good

Other polls too. Plus spending patterns suggest the same. And new business formation is extremely high.

 

[CantCucktheTuck]

TikTok.

For example: https://www.axios.com/2023/08/18/americans-economy-bad-personal-finances-good

Other polls too. Plus spending patterns suggest the same. And new business formation is extremely high.

lol you legit are talking about random TikTok polls.