this post was submitted on 11 Dec 2023
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President Joe Biden goes into next year's election with a vexing challenge: Just as the U.S. economy is getting stronger, people are still feeling horrible about it.

Pollsters and economists say there has never been as wide a gap between the underlying health of the economy and public perception. The divergence could be a decisive factor in whether the Democrat secures a second term next year. Republicans are seizing on the dissatisfaction to skewer Biden, while the White House is finding less success as it tries to highlight economic progress.

“Things are getting better and people think things are going to get worse — and that’s the most dangerous piece of this," said Democratic pollster Celinda Lake, who has worked with Biden. Lake said voters no longer want to just see inflation rates fall — rather, they want an outright decline in prices, something that last happened on a large scale during the Great Depression.

“Honestly, I’m kind of mystified by it,” she said.

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[–] TheBananaKing@lemmy.world 92 points 11 months ago (27 children)

Whenever anyone says "the economy", you can and should mentally substitute it with "rich people's yacht money".

Rich people's yacht money doing well doesn't do shit for 90% of the population. It doesn't pay the rent, put food on the table or clothes on their back. They can't afford to see a doctor or ride the damn bus.

And you want them to be happy because some stockbroker is getting a second holiday in the Maldives this year?

Stupid arrogant fucks.

[–] Ultraviolet@lemmy.world 35 points 11 months ago* (last edited 11 months ago) (4 children)

That's why they say "unemployment being too low is bad for the economy". Low unemployment means higher negotiating power for workers, which means higher wages and better working conditions. The only way that statement makes any sense is if they're exclusively talking about yacht money.

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[–] Semi-Hemi-Demigod@kbin.social 22 points 11 months ago (2 children)

When people say they’re not happy about the economy, this is the shit they’re talking about, not statistics.

Ordinary people get fucked in this economy, and there isn’t any party that can do anything about it.

[–] Nudding@lemmy.world 18 points 11 months ago (11 children)
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[–] Feathercrown@lemmy.world 8 points 11 months ago (3 children)

Politics literally sets the rules. If you can get an elected majority you can certainly do something about it.

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[–] Fades@lemmy.world 86 points 11 months ago (1 children)

the grocery stores and the rest of the capitalist pigs have yet to stop price gouging

[–] tacosplease@lemmy.world 26 points 11 months ago (1 children)

Groceries really are the problem. I lived comfortably up until about a year ago. Now the checking account gets pretty low every couple weeks. And that's with decent raises for me and my wife. I don't even care about gas prices except in how they add to the cost of everything that gets shipped. Food prices are killing us.

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[–] Sterile_Technique@lemmy.world 80 points 11 months ago (3 children)

If "the economy" doesn't translate to the purchasing power of our labor, then it's a useless metric.

[–] Fades@lemmy.world 21 points 11 months ago

it’s about capitalist scum pice gouging the fuck out of people for literally everything. The economy is doing better but we don’t see it directly because we’re still being abused as if the economy hasn’t upturned

[–] negativeyoda@lemmy.world 20 points 11 months ago

But stock market go up! You're welcome!

[–] Asafum@feddit.nl 17 points 11 months ago

"We just don't get it, our portfolios are performing so well! I just sit here and rake in money how can the ~~poors~~ people not love this economy!?"

[–] guyrocket@kbin.social 56 points 11 months ago (2 children)

Wages have not kept up with inflation. Why is this so hard for the media to understand?

[–] WetBeardHairs@lemmy.ml 13 points 11 months ago (3 children)

Wages have shot up like crazy over the past few years. But the FTC has not enforced antitrust regulations over the past 30 years which led to everything being owned by megacorps with no competition - so we're getting the screws turned on us right now. The FTC is finally engaging in some antitrust measures, but it is too little, too late. It's kind of hard to blame that on the current regime.

[–] EmpathicVagrant@lemmy.world 36 points 11 months ago (2 children)

Shot up like crazy is a weird way to talk about how the federal minimum wage is still $7.25

[–] CubbyTustard@reddthat.com 9 points 11 months ago (17 children)

still $2.13 for tipped employees

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[–] CmdrShepard@lemmy.one 8 points 11 months ago (1 children)

$15,950 per year with full time employment.

[–] EmpathicVagrant@lemmy.world 12 points 11 months ago (1 children)

Which is why 37% of people have multiple jobs, which is why unemployment is down, which is why the wealthy/out of touch pretend the economy is fine, which is why people in power ignore the suffering of the working class.

[–] Semi-Hemi-Demigod@kbin.social 11 points 11 months ago

You work three jobs, huh? Uniquely American, isn't it. That is fantastic that you're doing that. Get any sleep?

- President George W. Bush to a divorced mother of three. Omaha, Nebraska - February 4, 2004

[–] SuiXi3D@kbin.social 13 points 11 months ago

My wage has certainly gone up. I also can’t seem to go grocery shopping without spending $400 now. Literally everything is more expensive, bills included.

So if I look at my wage as 100%, rent and groceries and bills all take up a larger percentage of that then just five years ago.

Unless there are enforced laws around consumer pricing, every company on the planet is gonna raise prices when wages go up.

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[–] JJROKCZ@lemmy.world 49 points 11 months ago (1 children)

Because they’re calling the stock market “the economy” instead of actually looking at the qol of the average American. It’s just more ammo for the government only cares about the rich and corps argument

[–] Fades@lemmy.world 8 points 11 months ago (3 children)

No, no they aren’t, your comment is simplifying the issues here, not sure if you just don’t know what you’re talking about or what.

Things like record lows for unemployment for example, nothing to do with the stock market. There have been a lot of important wins for Americans.

with that said, the number one reason it hasn’t touched the QoL for the average American is because all of these capitalist pigs refuse to stop price gouging. That is where it hits us, the gas tank the grocery store, etc. they skyrocketed prices while shrinking sizes and all that because fuck you

Open your fucking eyes, the bigger problem is our out of control corporations

[–] MrPoopbutt@lemmy.world 19 points 11 months ago (1 children)

Unemployment is a bullshit number. There are a lot of ways you can be uncounted in those numbers.

Not saying I am aware of a better number, or if one even exists.

[–] dragonflyteaparty@lemmy.world 9 points 11 months ago

I don't know either, but it's absolute bullshit. As far as I know, unemployment only counts only those who are looking for work, but can't find it. What about those unemployed, want to be employed, couldn't find a job, and gave up?

[–] Semi-Hemi-Demigod@kbin.social 18 points 11 months ago (2 children)

Things like record lows for unemployment for example, nothing to do with the stock market. There have been a lot of important wins for Americans.

People are working two and three jobs to get by. And our unemployment figure doesn't count people who have given up looking for work. Saying "unemployment is low" is not the flex you think it is.

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[–] ChicoSuave@lemmy.world 38 points 11 months ago (6 children)
[–] Mr_Blott@lemmy.world 20 points 11 months ago

The people selling missiles to Israel

[–] GuyDudeman@lemmy.world 13 points 11 months ago

voters no longer want to just see inflation rates fall — rather, they want an outright decline in prices, something that last happened on a large scale during the Great Depression.

“Honestly, I’m kind of mystified by it,” she said.

Why the fuck would anyone be “mystified” by the fact that shit is still way more expensive than it used to be, and we’re still only getting paid what we used to be?

Fucking liberals.

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[–] girlfreddy@lemmy.world 37 points 11 months ago (7 children)

“Things are getting better and people think things are going to get worse ...

Because they are worse ... because many people don't have a well-paying job as a pollster ... and it's expected that the price of groceries will still rise in 2024 ... and rent will still go up ... and fires/droughts/storms/heatwaves will get worse ... and electricity/water bills will still go up ...

It always surprises me when otherwise intelligent people seem to set aside their critical thinking skills.

[–] FlyingSquid@lemmy.world 25 points 11 months ago (1 children)

The problem is that lots of people think Trump will fix all of that rather than make it far worse.

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[–] Wooster@startrek.website 34 points 11 months ago (8 children)

Second, Biden recently started to blame inflation on corporations that hiked prices when they saw an opportunity to improve their profits, bringing more prominence to an argument first used when gasoline prices spiked. The president's argument is suspicious to many economists, yet the intended message to voters is that Biden is fighting for them against those he blames for fueling inflation.

“Let me be clear: Any corporation that is not passing these savings on to the consumers needs to stop their price gouging,” Biden said recently in Pueblo, Colorado. “The American people are tired of being played for suckers.”

Wow. There's no question who's side the reporter is on.

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[–] homesweethomeMrL@lemmy.world 28 points 11 months ago

Abcnews shut the fuck up. You republiQan corporate pulp mill fuckers.

“Voters feel horrible about it” fuck you.

[–] TransSynthesist@lemmy.blahaj.zone 14 points 11 months ago

Remember kids, 'the economy' means 'rich people's portfolios'.

[–] mlg@lemmy.world 12 points 11 months ago (1 children)

I swear this is like the 5th "Economy is great but people are suffering for some weird reason" article on this community lmao

And every single time without fail everyone in the comments is showing a big middle finger to these awful pieces lol

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[–] ares35@kbin.social 12 points 11 months ago (1 children)

it's not his 'fault'.

if you want someone, anyone, to blame, it's the republican clowns in congress and the greedy af CEOs.

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Lake said voters no longer want to just see inflation rates fall — rather, they want an outright decline in prices, something that last happened on a large scale during the Great Depression.

“Honestly, I’m kind of mystified by it,” she said.

My dad told me once: "never trust the words that come out after the 'honestly' or before the 'but'."

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