Bidenomics
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@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.
wrote on 19 May 2024, 01:16 last edited by@taiwan_girl said in Bidenomics:
the last months of President Trump term
Which were mostly a recovery from the COVID dip.
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@taiwan_girl said in Bidenomics:
the last months of President Trump term
Which were mostly a recovery from the COVID dip.
wrote on 19 May 2024, 01:30 last edited by@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.
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@taiwan_girl said in Bidenomics:
the last months of President Trump term
Which were mostly a recovery from the COVID dip.
wrote on 19 May 2024, 01:47 last edited by@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!
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@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.
wrote on 19 May 2024, 13:16 last edited by@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.
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wrote on 19 May 2024, 14:10 last edited by
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wrote on 19 May 2024, 14:32 last edited by
@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.
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wrote on 19 May 2024, 14:49 last edited by
"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!!!!"
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wrote on 19 May 2024, 15:39 last edited by
What bullshit.
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wrote on 19 May 2024, 16:44 last edited by
@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.
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@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.
wrote on 20 May 2024, 00:28 last edited by 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
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@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
wrote on 20 May 2024, 00:51 last edited by@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.
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@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.
wrote on 20 May 2024, 14:53 last edited by@George-K Agree. For probably the majority of people (and I dont really know majority % is) vote on emotional thinking rather than rational thinking.
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wrote on 20 May 2024, 15:05 last edited by 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.
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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.
wrote on 20 May 2024, 15:07 last edited by@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?
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@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?
wrote on 20 May 2024, 15:09 last edited by@Axtremus said in Bidenomics:
Have you tried offering 7-figures?
I'd take the job if they offered that much.
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@George-K Agree. For probably the majority of people (and I dont really know majority % is) vote on emotional thinking rather than rational thinking.
wrote on 20 May 2024, 15:11 last edited by@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.
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@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.
wrote on 20 May 2024, 15:22 last edited by@Jolly said in Bidenomics:
@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.
I am not disagreeing. I am just saying that most people vote on emotion. I could post something about how the economy under Obama was better than under Trump, and there would be ALOT of people claiming otherwise. Or vice versa.
There was a chart I posted a while back (from the Customs/Border people) that showed that the number of illegal aliens coming into the US was basically flat from Obama through Trump. But many people will say that it was much lower under PResident Trump.
As @George-K says: politics is perception, and perception is not always reality.
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wrote on 20 May 2024, 15:23 last edited by
https://www.wsj.com/economy/stock-market-performance-biden-trump-charts-1a83371b
However, I've been assured that people don't live off of Wall Street.
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https://www.wsj.com/economy/stock-market-performance-biden-trump-charts-1a83371b
However, I've been assured that people don't live off of Wall Street.
wrote on 20 May 2024, 16:25 last edited by@George-K said in Bidenomics:
https://www.wsj.com/economy/stock-market-performance-biden-trump-charts-1a83371b
However, I've been assured that people don't live off of Wall Street.
That adjusted for inflation chart is quite interesting.
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@George-K said in Bidenomics:
https://www.wsj.com/economy/stock-market-performance-biden-trump-charts-1a83371b
However, I've been assured that people don't live off of Wall Street.
That adjusted for inflation chart is quite interesting.
wrote on 20 May 2024, 16:31 last edited by@LuFins-Dad said in Bidenomics:
That adjusted for inflation chart is quite interesting.
https://www.nationalreview.com/corner/trump-vs-biden-in-one-simple-chart/
It’s a just small chart, running alongside an article on page A5 of the weekend edition of the Wall Street Journal, but it says so much about why Donald Trump — after losing his reelection bid, after January 6, after four indictments — is running ahead of Biden in most of the swing states. One closing paragraph summarizes the numbers:
Though inflation is falling now, it has been higher on average under Biden than Trump. Adjusted for inflation, [household] net worth was up just 0.7 percent through Biden’s first three years, compared with 16 percent through Trump’s first three years.
The numbers are from the Saint Louis Federal Reserve Bank.
And there you go. Americans don’t blame Trump for Covid, so they give him a pass for the fourth year of his presidency and grade him on those first three years. A household net worth increasing 16 percent over three years is pretty good! And staying flat over three years is pretty bad. Sure, wages have increased over the past three years, but the corresponding increase in prices has eaten up almost all of those gains.
Will other issues matter in this election besides the economy? Sure. When Americans are asked open-ended questions about which issue is most important to their vote in the presidential election, immigration and the border consistently rank second. Abortion and the future of democracy get mentioned too, but they’re always a distant third, usually mentioned as most important by about 10 percent of the electorate.
This fall, if Americans feel like their household net worth is increasing, they’re likely to reelect Biden. If they feel like they’re treading water or that everything is harder to afford, they’re likely to reelect Trump. This isn’t the only factor, but it’s the biggest factor.