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

cottagecheesefan said:
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


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

Click to expand...

Spot on , I also like the cost of everything rising so much and when it goes down a little bit people cheer. Like gas there’s someone in this thread that did that .. “yay gas use to be 25 bucks a gallon it’s only 22 now , Biden bless “
 
Rob Battisti said:
It’s instagram doofus. She is an economist who testified many times before congress.
Click to expand...
Saw her piece in Bloomberg. She's talking more about static issues, though (as opposed to things that are worse now than usual). Look at this:

www.conference-board.org

Survey: US Job Satisfaction Hits All-Time High

American workers are more content than ever...
www.conference-board.org www.conference-board.org

And labor strife probably reflects superior bargaining power for workers. That is, when the economy is bad, people are just glad they have a job and eat shit, but when it's good, they know they can fight for better conditions and win. That's why full employment and strong growth are the most important issues to left liberals.
 
Jack V Savage said:
Saw her piece in Bloomberg. She's talking more about static issues, though (as opposed to things that are worse now than usual). Look at this:

www.conference-board.org

Survey: US Job Satisfaction Hits All-Time High

American workers are more content than ever...
www.conference-board.org www.conference-board.org

And labor strife probably reflects superior bargaining power for workers. That is, when the economy is bad, people are just glad they have a job and eat shit, but when it's good, they know they can fight for better conditions and win. That's why full employment and strong growth are the most important issues to left liberals.
Click to expand...
So you did watch it or not.
 
HereticBD said:
Or maybe, just maybe, people are genuinely struggling, despite all the charts and graphs trying to convince them otherwise? Crazy, right?

Reality is reality, and the reality is that 70% of the country thinks the economy sucks a bag of dicks. That's not some petty political shit. That's reality. Few can afford a home, and are struggling to put food on table. But hey, you got charts and graphs to tell them that they're fucking idiots. That'll work out great for Bidenomics.
Click to expand...
I'm a lib (not just a liberal, but a CANADIAN liberal!) and, right, I had a great year financially. My wife and I currently have more money than we ever possibly imagined we could. We are ostensibly out of debt rn (mortgage is there, but what we have in savings actually outweighs that). But I'm not gonna pretend I don't have the wherewithal to see that people are struggling badly right now. There are WAY more homeless people in my small place of 10k than there ever has been. Rent prices are fucked. Housing prices are falling a bit now it seems, but my friends who rent are paying minimum 1200 a month for an apartment, how are they gonna be able to put aside enough for a down payment?

And that's just housing. I'm fortunate enough that I am a damn good cook and can just grab the food that's on sale to make a good meal out of it that will last a few days. But cauliflower is like $10 a head when not on sale! This shit does add up for people, and I honestly don't see how people can argue otherwise.

CBC has a great series right now called The Grind that each week looks at how people are struggling to make their ends meet. I swear every article at some point has the topic of that week break down into tears. Many view CBC as leftist trash, but I don't view this as a left vs right thing, and I don't think a conservative leadership (in the US or Canada) would be able to solve this any faster. The interest rates suck and are dragging people emotionally, but honestly... this seems to be the solution. That doesn't make it any easier.
 
Barteh said:
Everybody has to go grocery shopping so everybody who lives in that country will know. When you feel a shit economy in your wallet because you're hit by a 30% inflation rate then you will know very quickly.



Is it my choice to pay 30% more for my eggs and bread compared to 1 or 2 years ago?
Click to expand...
I’m happy to discuss economics with you. Before we get started I just want to confirm that you are blaming Biden’s economic policy for the primary cause of egg price increases which is a widespread epidemic of H5N1 avian flu. Yes, core inflation has played a small role as well. Since the end of the flu earlier this year many birds are starting to be put back into production so that egg prices are down about 25% since January. Is that also due to Biden’s economic policy? As I said, it is helpful to establish some basic understanding of each others economic knowledge before engaging.
 
woodguyatl said:
I’m happy to discuss economics with you. Before we get started I just want to confirm that you are blaming Biden’s economic policy for the primary cause of egg price increases which is a widespread epidemic of H5N1 avian flu. Yes, core inflation has played a small role as well. Since the end of the flu earlier this year many birds are starting to be put back into production so that egg prices are down about 25% since January. Is that also due to Biden’s economic policy? As I said, it is helpful to establish some basic understanding of each others economic knowledge before engaging.
Click to expand...

www.buzzfeed.com

This Woman Compared Prices For The Exact Same Grocery List In 2020 vs. 2023, And Whoa

"Toward the end of 2020, I went to Walmart and purchased everything for $10.09 and made a week's worth of meals for one person. This week, I went back again and purchased those same items..."
www.buzzfeed.com www.buzzfeed.com

This is a good start, somebody who did some simple research on food prices and made the comparison. Something many people have noticed in their wallet but they didn't do any calculations.

Nice quote from that article that's relevant to your post.

Amy commented that even if you take the eggs out of the equation, her groceries have still gone up 38%.​


That's from 2020 to 2023. Includes items like rice, beans, tortillas and potatoes. You don't have to deny inflation because of one exception with the bird flu. It's there all over the board.
 
Barteh said:
www.buzzfeed.com

This Woman Compared Prices For The Exact Same Grocery List In 2020 vs. 2023, And Whoa

"Toward the end of 2020, I went to Walmart and purchased everything for $10.09 and made a week's worth of meals for one person. This week, I went back again and purchased those same items..."
www.buzzfeed.com www.buzzfeed.com

This is a good start, somebody who did some simple research on food prices and made the comparison. Something many people have noticed in their wallet but they didn't do any calculations.

Nice quote from that article that's relevant to your post.

Amy commented that even if you take the eggs out of the equation, her groceries have still gone up 38%.​


That's from 2020 to 2023. Includes items like rice, beans, tortillas and potatoes. You don't have to deny inflation because of one exception with the bird flu. It's there all over the board.
Click to expand...
You do realize much of this is caused by profit gouging. Companies gotten used to the COVID bounce.


"
Inflation has been the economic theme of 2022. Companies say supply chain issues, rising wages and expensive fuel have forced them to push prices up at the fastest rate in decades. But a lot of these same companies are reporting record profits, and that has many wondering if corporate greed is actually the driving force behind inflation right now. We sent NPR's Stacey Vanek Smith to see what's going on.

STACEY VANEK SMITH, BYLINE: Fact - inflation is up more than 7.5%. Fact - corporate profits have been at record highs this year. So it seems like the ever-higher prices we're all paying aren't just offsetting expenses for companies but might be beefing up bottom lines? Rakeen Mabud is chief economist for the progressive think tank Groundwork Collaborative.

RAKEEM MABUD: So while some of that price increase might have been justifiable, you know, a lot of it wasn't.

VANEK SMITH: Mabud says companies are padding prices.

MABUD: We know that there were sort of record profits over the last year and on the backs of families who are already struggling to get by.

VANEK SMITH: Mabud has listened to hundreds of corporate earnings calls and says CEOs talk openly about this. She points to grocery giant Kroger, which has seen billions in profits over the last couple years. On a recent call with investors, the CEO said the plan is to keep raising prices.

(SOUNDBITE OF ARCHIVED RECORDING)

RODNEY MCMULLEN: We view a little bit of inflation as always good in our business, and we would expect to be able to pass that through.

VANEK SMITH: AutoZone saw earnings jump 13%. Here's the CFO.

(SOUNDBITE OF ARCHIVED RECORDING)

JAMERE JACKSON: And as I've said before, you know, inflation has been a little bit of our friend in terms of what we see in terms of retail pricing.

VANEK SMITH: Hostess has seen profits jump more than 12%. The CEO had this to say.

(SOUNDBITE OF ARCHIVED RECORDING)

ANDY CALLAHAN: We're also seeing the consumers experience a lot of disruption. And they haven't fully recognized there were absorbed pricing.

VANEK SMITH: Et tu, Twinkie?

JUSTIN WOLFERS: Corporations have celebrated higher prices in their earnings calls ever since the history of the earnings call.

VANEK SMITH: Economist Justin Wolfers of the University of Michigan says even if companies are padding prices a little right now, it is not the source of inflation.

WOLFERS: Blaming inflation on greed is like blaming a plane crash on gravity. Corporations have always tried to raise prices whenever they could.

VANEK SMITH: The reason they usually don't, says Wolfers, is that they're competing for our business.

 
Goldman Sachs announced they predict a 10 dollar per barrel oil price drop in 2024. Thanks to strong brent crude production. This is Goldman not some crazy liberal.

"
Reuters) — Goldman Sachs trimmed its price expectation for Brent crude in 2024 by $10 per barrel to between $70 and $90, saying strong production from the United States would moderate any upside in oil prices."
 
I’m sure people are struggling, but the human condition is to prepare for tough times. The media is nonstop telling people the food banks are being used, people can’t afford things, so most people will plan and go out and use the food banks. Remember back in Covid when the videos were being posted of people buying up all of the toilet paper? Was there a shortage or was it hysteria. People didn’t know why they needed to attack a skid of tp, but they did!

That being said, if you are able to donate at a local food bank, please do so.
 
There are lots of good indicators for the economy right now (house prices, stock market, labor participation, unemployment levels, wage growth, etc.), not really sure how the "sky is falling" narrative is still holding up.
 
Rob Battisti said:
You know the funny thing? She’s a PhD economist who agrees with you but you have your head so far up your ass you can’t even see the light of day.
Click to expand...

Why don't you summarize her points instead of posting TikTok videos, then?
 
You must log in or register to reply here.

Similar threads

E
Economy "For the first time in history you have an asset more scarce than gold"
2 3 4
Replies
69
Views
3K
Eric Silva 2.0
E
LeonardoBjj
Economy Europe’s inflation is up after months of decline. Could it delay interest rate cuts?
Replies
4
Views
245
N13
N13
LeonardoBjj
Economy Bank of England rate cuts likely later but larger, Goldman Sachs says
Replies
0
Views
111
LeonardoBjj
LeonardoBjj
LeonardoBjj
Economy I was in the pool: Europe’s biggest economy shrank in the third quarter
Replies
15
Views
735
Goonerview
Goonerview
blackheart
International Milei's Neoliberal "Shock Therapy" is Devastating Argentina
6 7 8
Replies
151
Views
4K
Chad R. Thundercock
Chad R. Thundercock

Latest posts

Forum statistics

Threads
1,237,223
Messages
55,475,381
Members
174,786
Latest member
Biden's Diaper

Share this page

Back
Top