Bidenomics

[LuFins Dad]

Households in the top income quintile had the largest decline, on average, in the share of income required to pay for their 2019 consumption bundle over that four-year period.

So the rich got richer under Biden?

[LuFins Dad]

Nowhere in the report does it detail what goods and services were in the packages. An iPhone 11 sold for $750 in 19, and are sold new for $225. It wouldn’t be hard for government agency to game these kind of numbers…

[LuFins Dad]

Average Rent in 2019 was $1465. https://www.rentcafe.com/blog/rental-market/2019-mid-year-rent-report-national-average-rent-ends-first-half-year-1465/

Average rent today is $1716. That’s $3,000 per year. Weekly Real Earnings are up $7 to $365 over 2019’s $358. That’s $364 dollars per year increase.

[taiwan_girl]

@George-K said in Bidenomics:

Joe still has 8 months to catch the red man's gains.

But at the same moment in their President, President Biden has higher returns than President Trump.

But it will be difficult to have increases like the last months of President Trump term.

[George K]

@taiwan_girl said in Bidenomics:

the last months of President Trump term

Which were mostly a recovery from the COVID dip.

[taiwan_girl]

@George-K said in Bidenomics:

@taiwan_girl said in Bidenomics:

the last months of President Trump term

Which were mostly a recovery from the COVID dip.

Agree. But both of them are behind Obama, (who maybe is behind Clinton, etc.). To me, it just reinforce my thought that the president gets too much credit/too much blame for the economy.

[Axtremus]

@George-K said in Bidenomics:

@taiwan_girl said in Bidenomics:

the last months of President Trump term

Which were mostly a recovery from the COVID dip.

Or optimism buoyed by the expectation of the coming Biden Presidency!

[George K]

@taiwan_girl said in Bidenomics:

to me, it just reinforce my thought that the president gets too much credit/too much blame for the economy.

[George K]

[LuFins Dad]

@George-K said in Bidenomics:

Meh, prices did go down overall by a small amount, but not even close to a “plummet”. And almost all of the drop was precipitated by eggs, where production is finally getting back on track.

[George K]

"According to the report, they went down 0.02% for the first time in a year. So groceries that used to cost $155 cost $250 in March but “plummeted” to $245 in April! Huge savings! Huge! $5!!!!"

[Mik]

What bullshit.

[Jolly]

@Mik said in Bidenomics:

What bullshit.

I know they have to try, because some people are just that stupid, but just about anybody in the middle class has felt the pinch of significant inflation during Biden's term.

[taiwan_girl]

@George-K said in Bidenomics:

@taiwan_girl said in Bidenomics:

to me, it just reinforce my thought that the president gets too much credit/too much blame for the economy.

Why does he have red laser eyes?

@Larry and I went back and forth on this. I would ask him to give me his any five indicators of the economy (GDP grow, inflation, stock market, unemployment, etc etc etc) and I would pretty much show him that there was very little to no relationship between those and which party was the president. And I would get the typical Larry response: "If you are too dumb to understand that, then I'm not going to tell you." LOL

[George K]

@taiwan_girl said in Bidenomics:

I would ask him to give me his any five indicators of the economy (GDP grow, inflation, stock market, unemployment, etc etc etc) and I would pretty much show him that there was very little to no relationship

You may well be right. But James Carville will disagree, at least when it comes to politics.

Of course, politics might bear no relation to reality.

But in politics, perception is reality.

[taiwan_girl]

@George-K Agree. For probably the majority of people (and I dont really know majority % is) vote on emotional thinking rather than rational thinking.

[Doctor Phibes]

Somewhat related: I'm currently trying to hire - we're offering 6-figures for a basic engineering position. So far we've had all of two applicants, both referrals, and both only want to work remotely, which isn't going to happen.

[Axtremus]

@Doctor-Phibes said in Bidenomics:

Somewhat related: I'm currently trying to hire - we're offering 6-figures for a basic engineering position. So far we've had all of two applicants, both referrals, and both only want to work remotely, which isn't going to happen.

Have you tried offering 7-figures?

[Doctor Phibes]

@Axtremus said in Bidenomics:

Have you tried offering 7-figures?

I'd take the job if they offered that much.

[Jolly]

@taiwan_girl said in Bidenomics:

@George-K Agree. For probably the majority of people (and I dont really know majority % is) vote on emotional thinking rather than rational thinking.

Most of my income currently is fixed. If you don't think people in my situation have not noticed how their income has shrunk under Biden, you are delusional.