Jesus, Sleepy Joe can't even do a recession right.

New jobs report shows 199,000 new jobs, unemployment 3.7%, 35 straight months of job growth and unemployment under 4% for 23 straight months for the first time in 50 years.

This is no way to run a recession! Can this guy do nothing right?

And wage increases lag behind inflation.

While we are better off than it was at the end of Trump (Covid), I don’t think that objectively too many workers agree with you that Biden is doing well, or the economy is doing well as a whole.


Keep on saying it’s great, and don’t be surprised when the great orange one gets elected.

Trump getting back in wouldn’t all be on the GOP and his lying. The democrats would be accomplices to it as well.

News reported that 50,000 of these were strikers returning to work and 50,000 were govt jobs.

quote:

Originally posted by crbutler:
And wage increases lag behind inflation.

While we are better off than it was at the end of Trump (Covid), I don’t think that objectively too many workers agree with you that Biden is doing well, or the economy is doing well as a whole.


Keep on saying it’s great, and don’t be surprised when the great orange one gets elected.

Trump getting back in wouldn’t all be on the GOP and his lying. The democrats would be accomplices to it as well.

If people think the economy is not doing well it's because of lies like "And wage increases lag behind inflation."

quote:

With workers still in high demand, median hourly wages rose 4% over the last 12 months, keeping ahead of inflation.

Link

Interesting. I havent seen a raise in over a year.

You can spout government reports (that consistently get changed several months later) but as shown by polling, most folks aren’t seeing it.

Yes, things are so good, food shelves struggle to keep up with demand.

quote:

Originally posted by crbutler:
Interesting. I havent seen a raise in over a year.

You can spout government reports (that consistently get changed several months later) but as shown by polling, most folks aren’t seeing it.

Because, like you, they watch Fox News, which tries desperately to avoid acknowledging Biden's success.

By practically every objective measure the economy is doing much better under Biden than it did under Trump, your excuses for Trump notwithstanding.

The difference in perception is attributable to the fact that Democrats don't steadily peddle outright lies while doing so is Republican's standard procedure.

Deficits go UP under Republican Presidents and down under Democrats, have for at least the last 4 decades, but you won't hear it from Fox or the RNC, and you are so indoctrinated that you will be tempted to deny it before bothering to look up the facts, and you're so dishonest you won't bother to come back and admit the truth when you do.

Biden economy is also setting records for the most households holding multiple jobs in order to cover the Biden inflation.

quote:

Originally posted by Ed Scarboro:
Biden economy is also setting records for the most households holding multiple jobs in order to cover the Biden inflation.

The U.S. inflation rate for the twelve months ending in November was 3.2%, compared to the global rate of 6.6%.

The official inflation rate.

They removed a lot of necessities from it due to them being “too volitile” read make politicians look bad.

I don’t think Trump is the economy’s savior… but Biden sure isn’t.

I make less money than I did at my last job. Obviously Biden’s fault. It couldn’t possibly have been a bad decision on my part.

quote:

Originally posted by LongDistanceOperator:
I make less money than I did at my last job. Obviously Biden’s fault. It couldn’t possibly have been a bad decision on my part.

Biden probably made you make the decision with his mind-control machine...

quote:

Originally posted by crbutler:
The official inflation rate.

They removed a lot of necessities from it due to them being “too volitile” read make politicians look bad.

I don’t think Trump is the economy’s savior… but Biden sure isn’t.

They use core inflation rate in your link, not CPI.
But who cares how high gas, food, heating oil is.
People dont need those things.

my "favorite" kroger brand for bacon, coffee, and hamburger are 50% higher today than 2020 - gas is 50% higher, even though we are at the biden low, cost of funds is TRIPLE, my overall grocery bill is 200+% higher

i am in a cool job, with cool pay, and i have NOT seen a 50% raise - very few people have

Fast food prices are nearly double

oh, did you know that CPI core doesn't include food, fuel, or energy?

Yeah, it's SOOOOO much better today -- i mean, hey, illegal immigration is up a couple hundred precent, i guess that's a win

you guys supporting biden - i don't care if you are left, right, or center, as agood-for-the-economy, while WILLINGLY ignoring the covid corrections, concern me -

Bidenomics is TERRIBLE - it's just facts, but go play whatever mental masturbation games you need to let you live with your support

it WEIRD how the biden admin had this GREAT 4th of july price game, something like 17¢ lower than under trump - but they gamed it with not comparing the same label products.

quote:

Originally posted by crbutler:
And wage increases lag behind inflation.

While we are better off than it was at the end of Trump (Covid), I don’t think that objectively too many workers agree with you that Biden is doing well, or the economy is doing well as a whole.


Keep on saying it’s great, and don’t be surprised when the great orange one gets elected.

Trump getting back in wouldn’t all be on the GOP and his lying. The democrats would be accomplices to it as well.

Some of the shit you say....it's our fault if you elect trump?

Mike,
Let's not get to dumb -- we can hope there's another candidate in the wings - there isn't, but let's hope

quote:

Originally posted by jeffeosso:
Mike,
Let's not get to dumb -- we can hope there's another candidate in the wings - there isn't, but let's hope

Yeah, but there isn't.

You're gonna vote for trump?

This govt can spout all the crap they want to try and boost their 'sales' but it isn't working.

Most people are feeling the massive increase in food and consumer goods across the country. Most people do not want to fund endless foreign wars or the cost to feed, house and provide medical care for millions of illegals.

This is gonna come to a stop sooner or later.

quote:

Originally posted by Jefffive:

quote:

Originally posted by crbutler:
The official inflation rate.

They removed a lot of necessities from it due to them being “too volitile” read make politicians look bad.

I don’t think Trump is the economy’s savior… but Biden sure isn’t.

That all looks pretty conclusive until you factor in the approximately two-year time lag between tax changes and resulting effects in the real economy.

And the CPI accounts for housing by including urban rents, as distinct from buying houses with a mortgage.

When inflation is rising, we are cautioned that the figure doesn't include "volatile food and energy prices".

Still voting for Trump
Simply don’t like Biden
Is anything wrong with that?

If it is Pedo Joe and Orange Man Bad I will vote for the Orange one.

quote:

Originally posted by crbutler:
The official inflation rate.

They removed a lot of necessities from it due to them being “too volitile” read make politicians look bad.

I don’t think Trump is the economy’s savior… but Biden sure isn’t.

The same people do the numbers regardless of who's in power. Not that you care.

quote:

Originally posted by Bivoj:
Still voting for Trump
Simply don’t like Biden
Is anything wrong with that?

Yes, and you damn well know it.

Deflect and blame Biden all you want, it doesn't change the facts.

Report: Powerful companies are 'amplifying inflation' through increased profit margins

A new report from the Institute for Public Policy Research (IPPR) and Common Wealth identified a culprit behind this dichotomy: higher profit margins from powerful international companies.

Energy companies — like ExxonMobil and Shell — and food and commodities corporations — like Kraft Heinz — saw profits that have "far" outpaced the inflation that followed the onset of Russia's invasion of Ukraine. Tech, telecommunications and finance firms also experienced significant profit increases, according to the report.

The price increases across these sectors "exacerbated the initial price shock – contributing to inflation peaking higher and lasting longer than had there been less market power," the report claims.

Exxon, for example, reported earnings of $14.3 billion in 2019, before the pandemic and the inflationary environment that followed. The company reported earnings of $55.7 billion for 2022.

The report found evidence that some companies, beyond passing on their higher costs to the consumer, actually increased their profit margins, "not only passing inflation on but further amplifying it."

"Inflationary shocks cannot be avoided, but they need not persist so long," Chris Hayes, chief economist of Common Wealth, said in a statement. "Our analysis of companies suggests many large firms, beyond just the commodities sector, are using their power to preserve their profit margins. This pushes the shocks downstream to workers, consumers and labor-intensive industries that are less able to absorb them."

Such practices, Hayes said, beyond being unfair, have worked to destabilize the economy.

“We need a new set of targeted and strategic macroeconomic policies to encourage companies to behave differently and bring down inflation, both now and in the future," he said.

I don’t blame Biden for anything, just don’t like him
You deflect that’s all

Bad news for Republicans:

quote:

The University of Michigan said Friday that its consumer sentiment index jumped 13% to 69.4, as people became less worried about inflation and more optimistic about a number of issues. That not only ended the downturn but reversed the decline, returning the sentiment index to where it was in August.

Link

quote:

Originally posted by Bivoj:
Still voting for Trump
Simply don’t like Biden
Is anything wrong with that?

Not unless you have any ethics, principles, or patriotism to care about the country.

Rolland, that is pure opinion.
The other side feel they are the patriotic ones. Bidens open borders, electric everything, regardless of cost, and so on.
It's why there are multiple ideas of how the country should be run, rather than just yours.
The people at the lower end of the earnings scale suffer under either R or D in office.
The 40% at the bottom dont have the luxury of doing anything but trying to survive. Whether the president can do anything about prices or not, they are in charge of the country.

quote:

Originally posted by Mike Mitchell:

quote:

Originally posted by jeffeosso:
Mike,
Let's not get to dumb -- we can hope there's another candidate in the wings - there isn't, but let's hope

Yeah, but there isn't.

You're gonna vote for trump?

nope -- just nope

The Dow-Jones is a measure of long term inflation. To say that inflation over the last twelve months is 3.2% is ludicrous.
As our domestic manufacturing sector is, more and more, being outsourced, it's hard to see how the GDP is increasing. I suspect a lot of that GDP is stuff which has no export value; hence, it has no value at all. Regards, Bill.

What sort of GDP things has no export value?

quote:

Originally posted by theback40:
What sort of GDP things has no export value?

electricity to start - utilities, roads, homes, buildings - the list of things that comprise a nations GDP has, in cases, little to do with exports.

The US Exported $2.1T in '22, sounds like a LOT?

GDP, in the same time was 23T - we can roughly call exports 10% of GDP, and the US is the second largest exporter in the world -

quote:

Originally posted by RolandtheHeadless:

quote:

Originally posted by Bivoj:
Still voting for Trump
Simply don’t like Biden
Is anything wrong with that?

Not unless you have any ethics, principles, or patriotism to care about the country.

Do you?

I like that we are the number 2 works exporter w an economy designed around service sector jobs.

The question to Jeff is when did the US obtain that No 2 spot, or under which administration?

Does the arms to Ukraine create that no 2 spot? I doubt we are making money off that.

quote:

Originally posted by crbutler:
Interesting. I havent seen a raise in over a year.

You can spout government reports (that consistently get changed several months later) but as shown by polling, most folks aren’t seeing it.

My wife is an accountant for a private firm. She has gotten a raise every year. The business is in the black.

quote:

Originally posted by jeffeosso:

quote:

Originally posted by Mike Mitchell:

quote:

Originally posted by jeffeosso:
Mike,
Let's not get to dumb -- we can hope there's another candidate in the wings - there isn't, but let's hope

Yeah, but there isn't.

You're gonna vote for trump?

nope -- just nope

The country can survive an incompetent boob, not so much a seditionist out for revenge.

We get our electricity ( a good deal of it anyway) from hydro Quebec. So in certain instances it must be exportable?
Just got the new price list for logs. Prices flat from last year. With prices up on so many other things, my income will be down at the end of the year.

quote:

Originally posted by TomP:

quote:

Originally posted by Jefffive:

quote:

Originally posted by crbutler:
The official inflation rate.

They removed a lot of necessities from it due to them being “too volitile” read make politicians look bad.

I don’t think Trump is the economy’s savior… but Biden sure isn’t.

[IMG]https://i.imgur.com/v6x6AN1.jpg[/IMG

[IMG]https://i.imgur.com/Ou9SYNW.jpg[/IMG

[IMG]https://i.imgur.com/yAPGCSd.png[/IMG

That all looks pretty conclusive until you factor in the approximately two-year time lag between tax changes and resulting effects in the real economy.

And the CPI accounts for housing by including urban rents, as distinct from buying houses with a mortgage.

When inflation is rising, we are cautioned that the figure doesn't include "volatile food and energy prices".

And notice…there was no repeal of the Trump era tax changes.

quote:

Originally posted by Bill Leeper:
The Dow-Jones is a measure of long term inflation. To say that inflation over the last twelve months is 3.2% is ludicrous.
As our domestic manufacturing sector is, more and more, being outsourced, it's hard to see how the GDP is increasing. I suspect a lot of that GDP is stuff which has no export value; hence, it has no value at all. Regards, Bill.

100% correct.