Politics

Economist article says: "Average weekly earnings for the country’s workers reached nearly $1,170 in October, up by around 3% in real terms since the end of 2019."

I dunno what workers means here.

We’ve seen the largest real wage growth among the lowest income workers since the 60s. Up until recently the real wage gain was actually entirely seen in essential, unionized, and low income workers, with the rich actually seeing real wage decreases in that time. Higher inflation is obviously going to be a lot bigger problem for owners than workers. It’s just the trend has a really long way to go to make for half a century of falling.

Wealth inequality is reduced for the first time in 20 years.

Admittedly I cannot find evidence for the statement by Grothe that the benefits are in each quintile. However...

It is possible that corporate marketing has successfully bred dissatisfaction so that people are not happy with what they have. "Everybody needs a thneed".

People are made to think that having a bad day is a big issue because they expect to be happy every day. I like to call it Feelgood fascism, especially when it is peer pressure.

That's not what that sentence means.

People respond to prices by changing their purchase behavior. If prices go up for some things, people tend to buy less of those things, and if prices go down for some things, then people tend to buy more of those things.

Across the entire basket of stuff that people buy (measured by a weighted percentage of how people were spending their budgets the previous year), people tend to move away from the stuff that got more expensive and towards the stuff that got less expensive, so that the current household budget shifts less than the inflation measure does. It's called the substitution effect, and the CPI intentionally pretends it doesn't happen - so that the numbers can be more meaningful as a measure of price changes, at the cost of understating how households actually experience inflation.

https://en.wikipedia.org/wiki/Substitution_bias

That is why the comparison is with 2019. It wasn't a pandemic until 2020.

"ended in the middle of the COVID-19 pandemic" which Fat Joffrey utterly failed at handling resulting in millions of additional infections. Shitler then proceeded to loot the health care supply chain and intentionally prevented many small businesses from getting PPP loans such that were devastated, as well as delaying and limiting aid to "the poors" that workers became behind in their rent by many months and lots of slightly better off workers lost their homes. But sure, do apply "nothing he could do" to it so you can "bOtH sIdEs" his, and entirely his, disastrous results.

The sugar high economy he fostered was going to have issues, covid or not. We should've raised interest rates when times were excellent but we kept trucking along as if 2.5% home mortgage rates and such were going to be standard forever. Companies got spoiled on more than a decade of essentially "free money," and now that things have an interest rate they can feel they are flipping the fuck out.

Also 2019 was pre-pandemic. The economic effects weren't being felt at all yet.

honestly I don't like the over pumped economy we had before that as he pushed back on interest rate increases. I pretty much liked the pace at the end of obama. satan! the stock market has been out of wack since post 2000 as price to earning ratios went out the window.

Not only does the comparison predate the covid pandemic, it also says nothing in particular about Trump. Some people think the economy would have done great under him, some don't, and some think other things are more important than just the economy. Still, there is no comparison to Trump here, there is only something showing that we've done better under Biden than many countries have done with their economies and leaders.

Fair call. I have now added inline links

Or vote Trump and get three genocides for the price of one!

He supports the one in Gaza, the one against Ukrainians, and wants to start one here.

Just imagine being this ignorant.

In a forum for reasoned argumentation, yours is merely inflammatory with shitty grammar and no factual information. Blocking.

I loathe Biden. I think this is mostly throwing out statistics that don't accurately reflect the living conditions people are experiencing, in order to puff him up. But I can at least have a normal discussion without whatever this is.