Bidenomics
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https://www.foxbusiness.com/economy/cpi-inflation-august-2024
The Labor Department on Wednesday said the consumer price index (CPI) — a broad measure of how much everyday goods like gasoline, groceries and rent cost — rose 0.2% in August from the prior month, in line with the expectations of economists polled by LSEG.
Prices climbed 2.5% in August from the same time last year, slightly less than LSEG estimates and down from 2.9% in July.
Overall, the report indicates that inflationary pressures in the U.S. economy are continuing to ease, though prices remain above the Federal Reserve's 2% target.
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Another quarter of solid economic growth.
https://www.axios.com/2024/10/30/gdp-report-q3-release-economy-inflation
U.S. economy grew at 2.8% rate in the third quarter
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King cotton, baby!
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If there's one thing the Harris campaign has taught us all, in this precious learning moment, it's that jokes don't exist, and humor is deeply unsettling. So, I really don't know if anybody is trying to make "jokes" in this "forum", but if you are, I suggest you stop. Our democracy is on the brink. I, for one, am not laughing.
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Among [millennials with 401(k) accounts], the number of 401(k) accounts with a balance of $1 million or more rose to about 10,000 as of Sept. 30, up from around 2,000 in the third quarter of 2023, according to Fidelity, ...
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Yep, income inequality, as the poor get poorer.
I assume you know that income inequality in democracies is the harbinger of revolution and/or a descending into dictatorship?
“Cry havoc and let slip the DOGE of war!”
Those who cheered as J-6 American prisoners were locked in solitary for 18 months without trial, now suddenly fight tooth and nail for foreign terrorists’ "due process". — Buck Sexton
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Yep, income inequality, as the poor get poorer.
I assume you know that income inequality in democracies is the harbinger of revolution and/or a descending into dictatorship?
@Jolly said in Bidenomics:
Yep, income inequality, as the poor get poorer.
I assume you know that income inequality in democracies is the harbinger of revolution and/or a descending into dictatorship?
That’s not actually the case. It didn’t really come at the expense of the poor. It was mostly stock market driven and the market is thriving because of the number of the middle class moving into the upper class, not the number moving downward.
And again, trying to relate it to populist revolutions in the past is a little ridiculous. The “poor” are generally in housing with hvac, have access to transportation, often own a vehicle, have 1-2 televisions, a computer, and aren’t in danger of starvation. That’s not to say that it doesn’t suck. Speaking from experience, it sucks tremendously, and can be extraordinarily hard to break out of those things keeping you down. But what is keeping them down are personal decisions as much as external factors. Chemical dependencies, single parenthood, hand outs vs hand ups, and an education system that sells them a lie that the choices are a college degree that they can never afford or achieve or living a life in poverty.
You want to limit poverty? Limit the handouts. They can have Pell grants (in fact, increase the number of them), but the first two years HAVE to be at a Community College or Trade School. Have the school systems and counselors really promote what a trade can mean instead of a college degree. Show these kids that there are opportunities that are achievable. Also, go back to promoting family values in the schools and in entertainment.
The Brad
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Yep, income inequality, as the poor get poorer.
I assume you know that income inequality in democracies is the harbinger of revolution and/or a descending into dictatorship?
@Jolly said in Bidenomics:
as the poor get poorer.
The poor have not gotten poorer. Actual inflation-adjusted income over the last 20 years in the bottom quartile has risen about 17%.
It's not a zero-sum thing - someone should tell that to (three-house owning) Bernie (P)Sanders.
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98% of the population was poor in the French Revolution. Today, it’s 27-29% in the US depending on your sources. In France, it was only 2% that belonged to the wealthy. In the US today, it’s 21-24%. And again, the definition of poor is vastly different. @Jolly knows all of this and has stated as such before. I think he’s just not wanting to find anything positive until January 20th.
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Ok, for all of those luxuries the poor enjoy, how much is paid for with borrowed money?
What happens to the poor when no more money can be borrowed?
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Ok, for all of those luxuries the poor enjoy, how much is paid for with borrowed money?
What happens to the poor when no more money can be borrowed?
@Jolly said in Bidenomics:
Ok, for all of those luxuries the poor enjoy, how much is paid for with borrowed money?
For the poor? None. It’s called being poor. They generally don’t get credit cards…
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@Jolly said in Bidenomics:
Ok, for all of those luxuries the poor enjoy, how much is paid for with borrowed money?
For the poor? None. It’s called being poor. They generally don’t get credit cards…
@LuFins-Dad said in Bidenomics:
@Jolly said in Bidenomics:
Ok, for all of those luxuries the poor enjoy, how much is paid for with borrowed money?
For the poor? None. It’s called being poor. They generally don’t get credit cards…
That money comes from Uncle Sam. Last time I looked, Uncle Sam sure did borrow a lot of money...
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Way to move the goalposts…It’s okay to say that things went downhill drastically over the last 4 years, but there were some positives…
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@Axtremus said in Bidenomics:
Biden is owning it.
The United States saw an 18.1% increase in homelessness this year, a dramatic rise driven mostly by a lack of affordable housing as well as devastating natural disasters and a surge of migrants in several parts of the country, federal officials said Friday.
The U.S. Department of Housing and Urban Development said federally required tallies taken across the country in January found that more than 770,000 people were counted as homeless — a number that misses some people and does not include those staying with friends or family because they do not have a place of their own.
That increase comes on top of a 12% increase in 2023, which HUD blamed on soaring rents and the end of pandemic assistance. The 2023 increase also was driven by people experiencing homelessness for the first time. The numbers overall represent 23 of every 10,000 people in the U.S., with Black people being overrepresented among the homeless population.
“No American should face homelessness, and the Biden-Harris Administration is committed to ensuring every family has access to the affordable, safe, and quality housing they deserve,” HUD Agency Head Adrianne Todman said in a statement, adding that the focus should remain on “evidence-based efforts to prevent and end homelessness.”
Among the most concerning trends was a nearly 40% rise in family homelessness — one of the areas that was most affected by the arrival of migrants in big cities. Family homelessness more than doubled in 13 communities impacted by migrants including Denver, Chicago and New York City, according to HUD, while it rose less than 8% in the remaining 373 communities. Nearly 150,000 children experienced homelessness on a single night in 2024, reflecting a 33% jump from last year.
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@Jolly said in Bidenomics:
Yep, income inequality, as the poor get poorer.
I assume you know that income inequality in democracies is the harbinger of revolution and/or a descending into dictatorship?
That’s not actually the case. It didn’t really come at the expense of the poor. It was mostly stock market driven and the market is thriving because of the number of the middle class moving into the upper class, not the number moving downward.
And again, trying to relate it to populist revolutions in the past is a little ridiculous. The “poor” are generally in housing with hvac, have access to transportation, often own a vehicle, have 1-2 televisions, a computer, and aren’t in danger of starvation. That’s not to say that it doesn’t suck. Speaking from experience, it sucks tremendously, and can be extraordinarily hard to break out of those things keeping you down. But what is keeping them down are personal decisions as much as external factors. Chemical dependencies, single parenthood, hand outs vs hand ups, and an education system that sells them a lie that the choices are a college degree that they can never afford or achieve or living a life in poverty.
You want to limit poverty? Limit the handouts. They can have Pell grants (in fact, increase the number of them), but the first two years HAVE to be at a Community College or Trade School. Have the school systems and counselors really promote what a trade can mean instead of a college degree. Show these kids that there are opportunities that are achievable. Also, go back to promoting family values in the schools and in entertainment.
@LuFins-Dad said in Bidenomics:
The “poor” are generally in housing with hvac, have access to transportation, often own a vehicle, have 1-2 televisions, a computer, and aren’t in danger of starvation
This. The poor in US are richer than probably 75% of the rest of the world.
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Take away their government subsidies such as housing, food and welfare money, and see where they are at.
