Bidenomics
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Ah, to be a young person in the housing market now, looking at interest rates that will soon be double what they were when The Resident moved into the White House, and contemplating my shrinking (real dollars) paycheck...
Always remember, Operation Valkyrie was an act of sedition.
Warning: I post things that interest me. Read and comment at your own discretion. -
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I'm just an ordinary guy. Sometimes, if I have several different items to buy ( oil & filter, 40 lb bag of dog food, general staples) I'll shop at Walmart.
I know everyday prices. Without hesitation, better than any of you. I know the $2 can of cat food I bought for my barn cats, was $1.32, six months ago. I know the 2L bottle of house brand soda that's $1.18 was 88 cents, six months ago. I know the cheap hot dogs I give the pooch pills in, has gone from 99 cents to $1.19. Liquid coffee creamer has gone from $3.49 to $4.00.
And don't get me started on other things, like the price of a compact tractor, new truck, building materials or the price of fertilizers and seed.
You can point to every fucking graph in the world and shower the ignorant with statistics, but I know what my checking account looks like. Most other people that I know, grumble about the same things. Now, I don't hang out with the gibmedats nor do I run in Jon's financial circles. And I'm willing to admit regional bias.
But I have looked at more than one national poll. The majority of people in this country don't think too well of Bidenomics.
What's the old saying about pigs and lipstick?
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The Washington Post...
https://www.washingtonpost.com/business/2023/09/03/us-debt-deficit-rises-interest-rate/
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Biden has tried to turn the word definition around, with a positive spin.
He's going to fail.
Tha GOP, a political party that doesn't always know how to get elected and govern, won't get as much mileage out of this as they should.
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Just an opinion, but some things the GOP needs to run on...
- Biden economy vs. Trump economy. Before COVID, we were doing better than we had in years, with real wage gains and a rise in minority employment.
- Border security. More people get it, than last time.
- Military preparedness. Not just how much money we're spending, but what we are spending it on. Couple that with the woke ideology infecting the upper branches of the military.
- The Just-us Department. All Americans should live under the same rules and be afforded blind justice. I'd also pound the stump on all laws applying to all Americans. Including Congress. (Insert insider trading and Washington pols getting rich here).
- Abortion. The GOP is not getting the single-issue, under-40 female vote on this one. What they can do, is better explain the SCOTUS decision to the public. Then, they can run as anti-abortion or with a moderate position allowing early term (15 weeks?) abortion, but ultimately leaving it up to individual states.
- Climate change. One can agree that we are seeing some changes, but also point out that the science is not settled on why change is happening. And why many of the proposed and costly "remedies" may or may not work.
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"My pronouns are FA/FO." - Mik, 2024
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https://www.theguardian.com/business/2024/jan/19/us-economy-consumer-sentiment-rises
The S&P 500 recoded a new all-time high. The Guardian article attributes that to easing inflation expectations. Some also speculate that the Federal Reserve may start cutting interest rates.
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San Francisco mall loses fifth store in a month as occupancy plunges to just 25%.
Home sales in 2023 were worst since 1995 as high mortgage rates slammed market.
Career coaches expecting 2024 layoff wave: Here’s what you should do.
Ford cutting F-150 Lightning truck production on weak demand.
Macy’s slashing over 2K jobs, closing five stores amid pressure to go private.
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The TIME on Bidenomics, contrasting it with Reaganomics
https://time.com/6343967/bidenomics-is-real-economics/
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Like Reaganomics before it, Bidenomics is largely an argument over economic cause and effect. Bidenomics argues that a large and thriving middle class is the primary cause of economic growth. “When the middle class does well, everybody does well,” the President has repeatedly explained. This is the core proposition of Bidenomics: that prosperity grows from the bottom up and the middle out.
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Reaganomics, by contrast, argues that wealthy “job creators” are the primary cause of economic growth. “If we want job growth, we need to recognize who really creates jobs in America,” former House Speaker John Boehner memorably explained in a speech that lauded President Ronald Reagan for recognizing “that private sector job creators are the heart of our economy.” This is the core proposition of Reaganomics: that prosperity trickle’s down from the top.
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This argument between Bidenomics and Reaganomics—between “middle-out” and “trickle-down”—reflects a fundamental disagreement over how market economies work with enormous implications for how we craft economic policy. Reaganomics argues that it is the availability of investment capital (that is, the money of the wealthy) that is the primary constraint on growth, and so it advances policies that focus on the needs of investors while trusting in the “invisible hand” of the market to fairly and efficiently distribute the benefits of any resulting growth. But Bidenomics understands that the only way to grow the economy is to fully include more people in it—as entrepreneurs, as innovators, as well-paid workers, and as robust consumers—and so it advances policies that intentionally focus on the needs of people, not money, while trusting in the dynamism of markets to innovate new solutions in response.
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