the economy is not great but he has changed the trajectory. it took obama two terms to normalize after bush jr and unfortunately it was not so great that trump did not make it way worse. ironically mostly by not continuing gradual interest rate increases which forced the severe ones now.
Public demand and competition drove prices down. Since Covid reset prices, and stockholders demand growth, companies will continue to price gouge until customers say it’s enough.
This is just what capitalism looks like.
The problem is where things are getting the most expensive, that being food and housing, the markets are captured. You can’t just say no to having food and housing.
This is where regulation is supposed to step in.
Corporate ownership of housing is a major problem that no legislator seems to be handling. The Feds should start building and selling houses to individuals themselves. I believe that is one way to lower housing costs and increasing private ownership.
Food tracks the general inflation closely, it hasn’t actually gone up faster than the inflation in any meaningful way
Food tracks the general inflation closely
That’s a fine bit of bit circular logic there. The price of food is used in the BLS’s basket of goods for calculating the Consumer Price Index (CPI). So yes, the goods used to track inflation do, in fact, track with inflation.
That said, the US economy (at a macro level) is doing rather well considering that we weathered a global pandemic, we have a war on in Europe involving one of the world’s major oil and gas suppliers and inflation has been stubbornly high. Yet somehow, wages are up and unemployment is at historic lows. Seriously, if the administration could actually do something about the housing situation and prices rising, this election would look a lot more like 2008 than 2016. But unfortunately, people vote based on how they feel, not on an analysis of macro-economics. So long as people fell like the gains they have made are being squeezed back out of them via rising prices, the incumbent president is in trouble. When you get down to it, it’s still the economy, stupid.
https://www.bls.gov/news.release/cpi.nr0.htm
It’s not like we don’t have inflation excluding food
All items excluding food and energy: 3.8%
Food: 2.2%
most of the increases were actually before this last year. im not sure that is the best time frame. at least for me the big effects where seen in a year or two of inflation but its tapped down now comparatively.
Yeah, when Russia was blocking the Black Sea and Ukrainian farmers couldn’t get the grain out. Can only blame Biden for not shipping enough weapons to Ukraine
Public demand and competition drove prices down.
Prices have never gone down.
Costs for the corporations may have, but that has never (and will never) been passed on to customers.
It’s not hard to find examples of products where prices have gone down. Prices for literally all electronic goods have been decreasing for a long time, for example.
Price for performance in electronics has gone down: the end device has only gone up.
I’m not sure how you’ve decided to arbitrarily normalize “performance” but normal people are experiencing price drops in many categories. Here’s a bunch of other stuff that has dropped in price. Lots of things have been commoditized and benefited from economies of scale, leading to lower prices over time.
https://www.aei.org/carpe-diem/chart-of-the-day-or-century-7/
The way that we measure the economy is disconnected from the quality of life of most residents.
The economy is “good” when the rich are getting richer.
So the system isn’t broken and needs fixed, it’s working as designed and needs destroyed. Got it.
Rent is outrageous and getting worse every year. The dream of owning a home is dead for my generation (xennials) and newer. Utilities and other basic costs of living have skyrocketed and continue to get worse. The environment is starting to fall apart and insurance companies are starting to drop people, refuse coverage, and skyrocket rates when it IS available. Fascists continue to dismantle any and all social safety nets while pushing tax burdens onto lower income households, cutting their own tax responsibilities, and also creating inventive ways to loot public coffers.
Cancelling a little bit of student debt (without ever solving the core problem, btw) isn’t “turning around” - it’s barely a wiggle on the steering wheel. We’re all screwed and nobody is doing anything about it.
360º turn, got it!
Absolute shit to shit is some sort of change.
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Neoliberalized Democrats wouldn’t say better. This why people doesn’t trust and believe in them anymore. They became neolib like every others and they are chasing the myth of the middle voter.
One result is abstention. The second is people voting for the far right.
“Don’t vote”
lol. No.
LOL, keep trying Vlad.
