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The New Coffee Room

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  3. Bidenomics

Bidenomics

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  • George KG George K

    The cost of making popcorn:

    AxtremusA Offline
    AxtremusA Offline
    Axtremus
    wrote on last edited by
    #75

    @George-K said in Bidenomics:

    The cost of making popcorn:

    Why no absolute number for labor cost?

    1 Reply Last reply
    • LuFins DadL Offline
      LuFins DadL Offline
      LuFins Dad
      wrote on last edited by
      #76

      The bitch of it is, it’s an unforced error and unneeded lie to make his point. It’s a 27% increase in butter. For the sake of this argument, let’s say that’s a universal increase on all materials. That doesn’t translate into only a 27% increase in his product price. With inflation, he’s also having to raise his wages, and to match that inflation, he has needed to raise his wages by the 20% per hour. Now I have no idea his volume and the labor costs involved per unit for his product, but you could easily see that being another 5%-7%. In addition, and this gets missed by most, if the company’s output volume stays the same and the costs have all increased dramatically, then the company must increase their profit margin to simply maintain.

      The Brad

      1 Reply Last reply
      • AxtremusA Offline
        AxtremusA Offline
        Axtremus
        wrote on last edited by
        #77

        Krugman:

        Bidenomics Is Making China Angry. That’s OK.

        https://www.nytimes.com/2024/03/28/opinion/biden-trump-china.html

        Trump made a big show of taking on China, but he was ineffective when in office and appears to have folded on TikTok when donor money was at stake. Biden talks more softly but is wielding a really big stick. Or to put it another way, Trump isn’t actually a tough guy on China; he just plays one on TV. Biden is the real deal.

        LuFins DadL 1 Reply Last reply
        • George KG Offline
          George KG Offline
          George K
          wrote on last edited by
          #78

          Why people don't feel good about the economy, from the WSJ:

          Link to video

          "Now look here, you Baltic gas passer... " - Mik, 6/14/08

          The saying, "Lite is just one damn thing after another," is a gross understatement. The damn things overlap.

          1 Reply Last reply
          • Aqua LetiferA Offline
            Aqua LetiferA Offline
            Aqua Letifer
            wrote on last edited by
            #79

            I watched most of it but didn't hear any mention about the job market.

            Please love yourself.

            1 Reply Last reply
            • AxtremusA Axtremus

              Krugman:

              Bidenomics Is Making China Angry. That’s OK.

              https://www.nytimes.com/2024/03/28/opinion/biden-trump-china.html

              Trump made a big show of taking on China, but he was ineffective when in office and appears to have folded on TikTok when donor money was at stake. Biden talks more softly but is wielding a really big stick. Or to put it another way, Trump isn’t actually a tough guy on China; he just plays one on TV. Biden is the real deal.

              LuFins DadL Offline
              LuFins DadL Offline
              LuFins Dad
              wrote on last edited by
              #80

              @Axtremus said in Bidenomics:

              Krugman:

              Bidenomics Is Making China Angry. That’s OK.

              https://www.nytimes.com/2024/03/28/opinion/biden-trump-china.html

              Trump made a big show of taking on China, but he was ineffective when in office and appears to have folded on TikTok when donor money was at stake. Biden talks more softly but is wielding a really big stick. Or to put it another way, Trump isn’t actually a tough guy on China; he just plays one on TV. Biden is the real deal.

              Snort. He should get a job writing for SNL.

              The Brad

              1 Reply Last reply
              • George KG Offline
                George KG Offline
                George K
                wrote on last edited by
                #81

                Remember the article by Summers et al?

                "Now look here, you Baltic gas passer... " - Mik, 6/14/08

                The saying, "Lite is just one damn thing after another," is a gross understatement. The damn things overlap.

                Aqua LetiferA jon-nycJ 2 Replies Last reply
                • George KG George K

                  Remember the article by Summers et al?

                  Aqua LetiferA Offline
                  Aqua LetiferA Offline
                  Aqua Letifer
                  wrote on last edited by
                  #82

                  @George-K said in Bidenomics:

                  Remember the article by Summers et al?

                  I'm so old that I can remember when Millennials bitched about this very phenomenon 15 years ago, and boomers told them to stop whining because it didn't fit their narrative at the time.

                  This exact issue.

                  Please love yourself.

                  George KG 1 Reply Last reply
                  • Aqua LetiferA Aqua Letifer

                    @George-K said in Bidenomics:

                    Remember the article by Summers et al?

                    I'm so old that I can remember when Millennials bitched about this very phenomenon 15 years ago, and boomers told them to stop whining because it didn't fit their narrative at the time.

                    This exact issue.

                    George KG Offline
                    George KG Offline
                    George K
                    wrote on last edited by
                    #83

                    @Aqua-Letifer said in Bidenomics:

                    This exact issue.

                    We bought our first house in 1980. 13.25% mortgage on a $75K note. I wonder how the statistics of this tweet would compare to that.

                    (too lazy to look it up)

                    "Now look here, you Baltic gas passer... " - Mik, 6/14/08

                    The saying, "Lite is just one damn thing after another," is a gross understatement. The damn things overlap.

                    1 Reply Last reply
                    • CopperC Offline
                      CopperC Offline
                      Copper
                      wrote on last edited by
                      #84

                      You're not a man until you pay 16.5% interest.

                      George KG 1 Reply Last reply
                      • CopperC Copper

                        You're not a man until you pay 16.5% interest.

                        George KG Offline
                        George KG Offline
                        George K
                        wrote on last edited by
                        #85

                        @Copper said in Bidenomics:

                        You're not a man until you pay 16.5% interest.

                        Yeah, that's true. My 1986 adjustable had that - actually 17.4% irrc.

                        "Now look here, you Baltic gas passer... " - Mik, 6/14/08

                        The saying, "Lite is just one damn thing after another," is a gross understatement. The damn things overlap.

                        1 Reply Last reply
                        • AxtremusA Offline
                          AxtremusA Offline
                          Axtremus
                          wrote on last edited by Axtremus
                          #86

                          About home buying affordability referenced in reply #81, this is the underlying study:

                          https://www.bankrate.com/real-estate/home-affordability-in-current-housing-market-study/

                          Out of all 50 states and the District of Columbia, California requires the highest annual salary to afford a typical home at $197,057, followed by:
                          Hawaii: $185,829
                          District of Columbia: $167,871
                          Massachusetts: $162,471
                          Washington: $156,814

                          Mississippi requires the lowest income to afford a home in the U.S. at $63,043, followed by:
                          Ohio: $64,071
                          Arkansas: $64,714
                          Indiana: $65,143
                          Kentucky: $65,186

                          5 states where income required to afford a typical home grew the most
                          Skyrocketing home prices in these states mean higher salaries are needed to afford a typical home
                          Montana experienced the most significant increase of income needed to afford a typical home between January 2020 and January 2024, followed by Utah, Tennessee, South Carolina and Arizona.

                          5 states where income required to afford a typical home grew the least
                          The annual salary needed to afford a typical home grew the least in North Dakota, the District of Columbia, Louisiana, Illinois and Kansas between January 2020 and January 2024.

                          By “salary,” I think they mean household income, or “combined salary” of both spouses; in which case $110,871 means roughly $55.5k each for a two-income household.

                          1 Reply Last reply
                          • AxtremusA Axtremus

                            Biden is owning it.

                            George KG Offline
                            George KG Offline
                            George K
                            wrote on last edited by
                            #87

                            @Axtremus said in Bidenomics:

                            Biden is owning it.

                            Unexpectedly!

                            Surging gas prices and sky-high mortgages and rent sent inflation rising more than expected in March, adding to Americans’ prolonged and painful battle with high costs. That could force the Federal Reserve to keep its punishing rates higher for longer.

                            US consumer prices picked up again last month, vaulting to a 3.5% increase for the 12 months ended in March, according to the latest Consumer Price Index data released Wednesday by the Bureau of Labor Statistics.

                            That’s up considerably from February’s 3.2% rate and marks the highest annual gain in the past six months. Friday’s report further highlights that the path to lower inflation remains extremely bumpy — and continue to be a drag on Americans’ hard-earned finances — and that any loosening of monetary policy might not happen soon.

                            “You can kiss a June interest rate cut goodbye,” Greg McBride, chief financial analyst for Bankrate, wrote in commentary issued Wednesday.

                            US futures tanked Wednesday after the release of the hotter-than-expected inflation data, with Dow futures falling by more than 475 points. Futures on the S&P fell by 1.25% and Nasdaq futures slipped by 1.3%. Treasury yields topped 4.5%.

                            "Now look here, you Baltic gas passer... " - Mik, 6/14/08

                            The saying, "Lite is just one damn thing after another," is a gross understatement. The damn things overlap.

                            1 Reply Last reply
                            • George KG Offline
                              George KG Offline
                              George K
                              wrote on last edited by
                              #88

                              Economics is hard, CNN.

                              If you just looked at the chyron, you'd think prices went up 3.5% IN A MONTH.

                              Screenshot 2024-04-10 at 11.35.18 AM.png

                              "Now look here, you Baltic gas passer... " - Mik, 6/14/08

                              The saying, "Lite is just one damn thing after another," is a gross understatement. The damn things overlap.

                              1 Reply Last reply
                              • LuFins DadL Offline
                                LuFins DadL Offline
                                LuFins Dad
                                wrote on last edited by
                                #89

                                It seems to me that the market didn’t exactly take off with the recent wonderful jobs report…

                                The Brad

                                Aqua LetiferA 1 Reply Last reply
                                • LuFins DadL LuFins Dad

                                  It seems to me that the market didn’t exactly take off with the recent wonderful jobs report…

                                  Aqua LetiferA Offline
                                  Aqua LetiferA Offline
                                  Aqua Letifer
                                  wrote on last edited by
                                  #90

                                  @LuFins-Dad said in Bidenomics:

                                  It seems to me that the market didn’t exactly take off with the recent wonderful jobs report…

                                  That's just the start. Wait another 2 years.

                                  Please love yourself.

                                  JollyJ 1 Reply Last reply
                                  • Aqua LetiferA Aqua Letifer

                                    @LuFins-Dad said in Bidenomics:

                                    It seems to me that the market didn’t exactly take off with the recent wonderful jobs report…

                                    That's just the start. Wait another 2 years.

                                    JollyJ Offline
                                    JollyJ Offline
                                    Jolly
                                    wrote on last edited by
                                    #91

                                    @Aqua-Letifer said in Bidenomics:

                                    @LuFins-Dad said in Bidenomics:

                                    It seems to me that the market didn’t exactly take off with the recent wonderful jobs report…

                                    That's just the start. Wait another 2 years.

                                    For various reasons, I think you're right. Aside from the judges, particularly SCOTUS , wouldn't hurt my feelings tremendously if Trump lost this election.

                                    Which may be why the Dems seem to be leaving Biden in there.

                                    “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

                                    Aqua LetiferA 1 Reply Last reply
                                    • JollyJ Jolly

                                      @Aqua-Letifer said in Bidenomics:

                                      @LuFins-Dad said in Bidenomics:

                                      It seems to me that the market didn’t exactly take off with the recent wonderful jobs report…

                                      That's just the start. Wait another 2 years.

                                      For various reasons, I think you're right. Aside from the judges, particularly SCOTUS , wouldn't hurt my feelings tremendously if Trump lost this election.

                                      Which may be why the Dems seem to be leaving Biden in there.

                                      Aqua LetiferA Offline
                                      Aqua LetiferA Offline
                                      Aqua Letifer
                                      wrote on last edited by
                                      #92

                                      @Jolly said in Bidenomics:

                                      @Aqua-Letifer said in Bidenomics:

                                      @LuFins-Dad said in Bidenomics:

                                      It seems to me that the market didn’t exactly take off with the recent wonderful jobs report…

                                      That's just the start. Wait another 2 years.

                                      For various reasons, I think you're right. Aside from the judges, particularly SCOTUS , wouldn't hurt my feelings tremendously if Trump lost this election.

                                      Which may be why the Dems seem to be leaving Biden in there.

                                      Yeah, I'd love to be wrong and hope I am. But I don't see any evidence for that yet.

                                      Please love yourself.

                                      1 Reply Last reply
                                      • LuFins DadL Offline
                                        LuFins DadL Offline
                                        LuFins Dad
                                        wrote on last edited by
                                        #93

                                        So you guys are suggesting that kicking the can down the road for decades, then coupled with an unprecedented influx of cash into the M1, along with incredible inflation over the last few years, interest rates that are twice what they were 4 years ago, and a workforce that is not growing manufacturing jobs, but is increasing government and part-time employment at incredible rates could ultimately have a negative outcome?

                                        The Brad

                                        1 Reply Last reply
                                        • LuFins DadL Offline
                                          LuFins DadL Offline
                                          LuFins Dad
                                          wrote on last edited by
                                          #94

                                          When does Social Security become insolvent?

                                          The Brad

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