Why inflation may be worse than you think it is

[mookiemcgee]

I thought Biden would be a terrible president. He had never impressed me as a politician or a leader.
Some terrible decisions.

Until he became president.

If Biden had come after Obama nobody would have been impressed and he would have been a 1 term president... but coming after Trump basically ruined this country by amplifying divisions, promoting authoritarianism, pissing of our allies, fucking up a pandemic, and hurtling us towards civil war it was a pretty low bar. Just keep the wheels on the bus Joe, that's all we wanted and it's all we got... but it was enough (probably even for a second term).

[jusplay4fun]

If the Biden Economy, i.e., Bidenomics, is SO GREAT, why do so many voters find it so BAD? I have already documented this PERCEPTION by the majority of voters many times, in this very thread, so there is no need for further proof at this point.

If Bidenomics is SO GREAT, MOST disagree, or do not benefit from this wonderful economics. Perhaps they did not get some of the TRILLIONS of $$$$ Biden and Kamala are dropping on the Streets.

Well Done, Biden. Let's Go, Brandon.

Well, in case anyone has not seen the data on how bad this economy is, except for the Rich, like Biden and his friends and family:

Moody's Analytics reports that the average American household now spends around $270 more per month on basic necessities than a year ago. This equates to a substantial $1,037 increase per month compared to three years ago, underscoring the continuous upward trend in living costs.

https://www.msn.com/en-us/money/realest ... 11#image=2

The US has a 'disastrous' economy under Biden: Rep. Jodey Arrington

Economic panelists Rep. Jodey Arrington, R-Texas, and Art Laffer react to President Biden claiming inflation was at 9% when he took office

https://www.msn.com/en-us/news/politics ... 49#details

Trump trusted more than Biden on inflation, a top issue for voters, poll shows

U.S. adults trust former President Donald Trump over President Joe Biden on the issue of inflation by a double-digit margin, according to a new ABC News/Ipsos poll this month, which found that price increases remain a top concern for voters, with less than six months to go until Election Day.

https://www.msn.com/en-us/news/politics ... ngNewsSerp

GaryD is in denial; the economy is BAD for many. Perhaps GaryD is one of the Rich who do not suffer from inflation.

[DirtyDishSoap]

pack rat shows that he does not comprehend what the stock market is about. Why do I bother to even READ his posts? My brain HURTS reading such nonsense. Your knowledge of economic matters is worse than that of Biden; that is REALLY LOW, considering how little Biden knows about the Economy. C'mom MAN...!!

And to draw a comparison of Trump to Charles Manson is ridiculous. You drank the Kool-Aid of the OTHER Cult, DDS.

You both try to refute my posts, ideas, and citations of AUTHORITATIVE sources with your mere OPINIONS and with silly responses.

At least I acknowledge that I do not like Trump and that I want some other candidates.

You two clowns are so committed to your hatred of Trump that you cannot see past Biden. Show me a post already made here in CC where you criticized Biden and said that you do not want him to be the Democratic candidate.

Lastly, for now, my eyes are Brown and NOT pink. I think you must have looked in the mirror and got confused like Biden often does. Read the cue card, DDS.

[DirtyDishSoap]

Leave it to a guy that has a teaching profession not understanding what pink eye is. Jesus...

[jusplay4fun]

I do understand what pink eye is. You are the one who lacks comprehension and vision of the facts.

[DirtyDishSoap]

I do understand what pink eye is. You are the one who lacks comprehension and vision of the facts.

Lastly, for now, my eyes are Brown and NOT pink. I think you must have looked in the mirror and got confused like Biden often does. Read the cue card, DDS.

Lmao ok

[KoolBak]

Ahhhhh......waking up in Kauai, hearing the waves breaking on the beach....

Nice.

You guys keep discussing and I'll have a mai tai for breakfast

[HitRed]

https://i.postimg.cc/mgHNGmrp/koolbak-2.png

[HitRed]

[Pack Rat]

Ahhhhh......waking up in Kauai, hearing the waves breaking on the beach....

Nice.

You guys keep discussing and I'll have a mai tai for breakfast

Yep, this is the thread to talk about your inflationary trip to the isles.

[KoolBak]

Damn straight Skippy....wish I had my shotgun tho

[mookiemcgee]

Damn straight Skippy....wish I had my shotgun tho

Is hunting even a thing in Hawaii? Maybe pigs and deer? Or 'libs'?

[Pack Rat]

Damn straight Skippy....wish I had my shotgun tho

Is hunting even a thing in Hawaii? Maybe pigs and deer? Or 'libs'?

The Hawaiian Islands have a "hog problem." Hate to see one of our posters turn his gun on himself.

[KoolBak]

Wild pigs are rampant...encouraged to kill them as they're destroying the island. Lots of excellent Kahlua Pig at all the local joints

[jusplay4fun]

More bad economic news for Biden. Has p-mac or p-rat dealt with these issues? Someone let me know because I ignore most of what they post, since they are so full of drivel.

Biden's latest push to take control of the inflation narrative

The Biden administration released a memo to its allies outlining its actions to combat rising costs — and blaming Republicans for blocking its efforts.

Why it matters: It's an attempt to tell Americans that the White House is focused on bringing prices down at a time when voters are unhappy with the economy, and hold the president responsible for inflation.

Catch up fast: The latest inflation figures show that prices rose 3.4% over the last year — much lower than the scorching levels seen in 2022 but still too high for comfort.

Meanwhile, the economy overall is on solid footing — particularly the labor market. The unemployment rate has been under 4% for 27 straight months.

Between the lines: Biden generally doesn't get much credit for economic strength. Former President Trump polls better on his handling of the economy.

The administration has struggled with its messaging around inflation — they know it's making Americans feel bad, and that there's not much they can do about it before the election, as Axios' Hans Nichols wrote recently.

https://www.msn.com/en-us/news/politics ... 26f0&ei=84

Biden’s proposed tax hike would crush workers and the economy

The Biden administration is poised to impose a $3 trillion tax hike. That would be the effect of ending the Trump-era tax cuts.

President Biden is eager for more money from U.S. taxpayers, and he is willing to drive businesses back overseas by raising corporate tax rates. It’s clear that Biden would rather fund his big government progressive agenda than ensure that working citizens can afford necessities.

The Biden tax hike isn’t about relief for the middle class. It is about supporting exorbitant government spending, which could drive the national debt to new highs. The plan will be crushing for hardworking Americans struggling under Bidenomics.

Biden’s desire to end the 2017 Tax Cuts and Jobs Act (TCJA) — the most significant tax cuts since the 1980s — is just the latest in a string of poor economic decisions by his administration. The TCJA, which I was proud to help enact as a member of the White House legislative affairs team, led to record prosperity, especially among the poorest segments of our society. It also ensured that well-paying jobs stayed in the U.S.

Before a global pandemic wreaked havoc on the world economy, the U.S. was reaching new economic heights. Jobless claims nearly hit a 50-year low. Unemployment rates for Blacks, Hispanics, Asian Americans, Native Americans, veterans, the disabled and those without a high school degree all hit record lows.

https://www.msn.com/en-us/news/politics ... 26f0&ei=86

And who was in charge when the US Economy was doing so well? Biden? NO, he is too incompetent and too OUT of TOUCH with things to manage THAT type of success. Biden is too feeble and incapable of such things.

[pmac666]

Obama?

[jusplay4fun]

Obama?

p-mac again shows his ignorance. Well Done, p-mac. Wrong as usual.

As what else does Biden do to mis-manage the Economy? And make another silly political move?

Biden to release 1 million barrels of gasoline to reduce prices at the pump ahead of July 4

The Biden administration will release 1 million barrels of gasoline from reserves held in the Northeast to reduce prices at the pump ahead of the Fourth of July holiday and summer driving season.

“By strategically releasing this reserve in between Memorial Day and July 4th, we are ensuring sufficient supply flows to the tri-state [region] and northeast at a time hardworking Americans need it the most,” Energy Secretary Jennifer Granholm said in a statement Tuesday.

Gasoline futures have rallied 19% this year as oil prices have risen due to OPEC cutting production and fears the Israel-Hamas war could spark a broader Middle East conflict that disrupts supplies. Rising energy prices stirred speculation in April that the Biden administration might tap the Strategic Petroleum Reserve in Texas and Louisiana ahead of the November presidential election.

White House National Economic Advisor Lael Brainard said last month that the administration would “make sure gas prices remain affordable.”

But gas prices have eased in recent weeks as oil has pulled back from April highs hit when traders bid up crude futures on fears that Israel and OPEC member Iran were on the brink of war.

https://www.cnbc.com/2024/05/21/biden-t ... uly-4.html

This move shows AGAIN how desperate Biden is to get re-elected. First he agreed to debate Trump, and now this? And do not forget his racial pandering. ALL the moves of a LOSER who is BEGGING for votes.

Did anyone say that Biden is incompetent, TOO? What a loser. No wonder he has the support of p-rat and p-mac, and GaryD, TOO.

[Pack Rat]

Jusplay4MAGA, did you get fired from your Sunday School teacher job? You should of never put idols above your make believe God. Blasphemy!



By the way jusplay4MAGA, you must look pretty cool in those golden sneakers with Trump Bible tucked under your arm. I'm sure all your friends (yourself) in your neighborhood are quite jealous.

[pmac666]

Obama?

p-mac again shows his ignorance. Well Done, p-mac. Wrong as usual.

As what else does Biden do to mis-manage the Economy? And make another silly political move?

Biden to release 1 million barrels of gasoline to reduce prices at the pump ahead of July 4

The Biden administration will release 1 million barrels of gasoline from reserves held in the Northeast to reduce prices at the pump ahead of the Fourth of July holiday and summer driving season.

“By strategically releasing this reserve in between Memorial Day and July 4th, we are ensuring sufficient supply flows to the tri-state [region] and northeast at a time hardworking Americans need it the most,” Energy Secretary Jennifer Granholm said in a statement Tuesday.

Gasoline futures have rallied 19% this year as oil prices have risen due to OPEC cutting production and fears the Israel-Hamas war could spark a broader Middle East conflict that disrupts supplies. Rising energy prices stirred speculation in April that the Biden administration might tap the Strategic Petroleum Reserve in Texas and Louisiana ahead of the November presidential election.

White House National Economic Advisor Lael Brainard said last month that the administration would “make sure gas prices remain affordable.”

But gas prices have eased in recent weeks as oil has pulled back from April highs hit when traders bid up crude futures on fears that Israel and OPEC member Iran were on the brink of war.

https://www.cnbc.com/2024/05/21/biden-t ... uly-4.html

This move shows AGAIN how desperate Biden is to get re-elected. First he agreed to debate Trump, and now this? And do not forget his racial pandering. ALL the moves of a LOSER who is BEGGING for votes.

Did anyone say that Biden is incompetent, TOO? What a loser. No wonder he has the support of p-rat and p-mac, and GaryD, TOO.

No, he didnt agree to debate Trump, he called him out to debate him.
And ofc it will almost end as you predicted, one of those dudes is already searching for excuses to pull out. And its not ole Joe. (whos old age you forgot to mention )

[jusplay4fun]

As I stated earlier, the wage increase will take time to see its full impact and will have negative economic impact. And will this lead to MORE inflation? YES.

AND, how much is a fast food worker worth? I would argue to let the free market decide; the actions of CA government is NOT a free market action.

California’s Fast Food $20 Hour Wage Hike Leads To Almost 10,000 Job Losses
In a bold move that seemed aimed at improving the lives of fast food workers, California recently implemented a law raising the minimum wage for fast food employees to $20 per hour. The decision was celebrated by many as a victory for labor rights and economic justice. However, the unintended consequences of this wage hike are now becoming apparent, with nearly 10,000 jobs lost in the fast food industry alone.

https://www.msn.com/en-us/money/markets ... 13#image=1

Chick-fil-A
California's raise in fast-food worker salaries has influenced consumer prices, with Chick-fil-A notably increasing prices by 10% statewide.

Price hikes
Other fast-food chains like Starbucks, Shake Shack, Chipotle, and Taco Bell have also implemented substantial price hikes. The California Restaurant Association cautions against further raises in the state minimum wage, emphasizing the potential negative impact on businesses.

Job losses
In a statement, the California Restaurant Association said, "Daily headlines have chronicled job losses, reduced working hours, restaurant closures, and higher prices for California's inflation-weary consumers as a direct result of this minimum wage hike."

A better wage
Saru Jayaraman from One Fair Wage said, "Non-fast food restaurant workers are saying, 'What about us? We, too, we deserve to be paid $20 an hour, too. We shouldn't all have to go to fast food to get a better wage.'"

The implementation
The implementation of the $20 minimum wage in California has been accompanied by a wave of job cuts in fast-food establishments, with approximately 9,500 jobs being eliminated between last fall and January.

Labor costs
The substantial increase in labor costs has compelled many fast-food chains to reevaluate their operational strategies, leading to widespread price escalations and the expedited deployment of automation technologies, such as robotics, to mitigate the impact of soaring labor expenses.

Notable franchises
Notable franchises, including Pizza Hut, Round Table Pizza, El Pollo Loco, and Jack in the Box, have initiated workforce reductions and the integration of automation solutions in response to the new wage mandate.

Competitive landscape
Moreover, concerns have emerged regarding the competitive landscape, as California's fast food now boasts the highest prices in the country, prompting apprehensions about the sustainability of further price escalations and their impact on consumer behavior.

https://www.msn.com/en-us/money/compani ... 9#image=11

And as usual, having just read the latest comments by p-mac and p-rat, I see more of the usual worthless drivel and continued personal attacks. Deal with the issue presented here and stop attacking me with your LIES. You are wasting your time and your very limited brain power. Or perhaps you lack the brains to deal with issues and facts that I presented. NOW back to putting both on IGNORE. Please note how long it takes for one or both to respond HERE.

[HitRed]

Canada cuts interest rates.

https://www.bloomberg.com/news/articles ... re-to-come

[jusplay4fun]

some wisdom from George Carlin:

2. On staying at your job
©The Scroller
"Most people work just hard enough not to get fired and get paid just enough money not to quit."

11. On finding happiness through possessions
©The Scroller
"Trying to be happy by accumulating possessions is like trying to satisfy hunger by taping sandwiches all over your body."

3. On consumerism
©The Scroller
"A house is just a place to keep your stuff while you go out and get more stuff."

and if you want to read the rest:
https://www.msn.com/en-us/lifestyle/lif ... 00#image=4

[Pack Rat]

some wisdom from George Carlin:

2. On staying at your job
©The Scroller
"Most people work just hard enough not to get fired and get paid just enough money not to quit."

11. On finding happiness through possessions
©The Scroller
"Trying to be happy by accumulating possessions is like trying to satisfy hunger by taping sandwiches all over your body."

3. On consumerism
©The Scroller
"A house is just a place to keep your stuff while you go out and get more stuff."

and if you want to read the rest:
https://www.msn.com/en-us/lifestyle/lif ... 00#image=4

Don't be a moron jusplay4MAGA, George Carlin is a lefty.

[Votanic]

some wisdom from George Carlin:

2. On staying at your job
©The Scroller
"Most people work just hard enough not to get fired and get paid just enough money not to quit."

11. On finding happiness through possessions
©The Scroller
"Trying to be happy by accumulating possessions is like trying to satisfy hunger by taping sandwiches all over your body."

3. On consumerism
©The Scroller
"A house is just a place to keep your stuff while you go out and get more stuff."

and if you want to read the rest:
https://www.msn.com/en-us/lifestyle/lif ... 00#image=4

Don't be a moron jusplay4MAGA, George Carlin is a lefty.

Actually rat, it's your simplistic two-directional worldview that is truly moronic.

[DirtyDishSoap]

Carlin didn't identify with any party. He hated the system. Lol.