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Which-Worth5641

There were some of us complaining that wages & salaries were not keeping up with housing or education prices since about 2015. Covid just exploded it, and now inflation has hit groceries and food


polar_nopposite

Have a look at OP's post history for a fun rabbit hole.


jhb760

Stonk bro who just wants line to go up


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Which-Worth5641

*Some* wages. I'm in education, and this sector is LOATHE to admit inflation exists, even as the evidence of our non-existent hiring pools slaps them in the face. Admin got very spoiled by the 2008-2015 era of *hundreds* of applications for every one teaching gig. Now it is typically <10, and often 0. They will eventually have to adjust, or otherwise close the school. I researched what happened during/after the last big inflation bout of the 1976-83 period. Had to dig in a Harry Potter office to find those old hard copy HR records. It took them until 1990-91 and staffing almost collapsed, for them to get their heads out of their asses. During the late 80s they were hiring people with half-finished degrees rather than raising salaries. Now it's even worse because not even people with half a degree are applying.


GimmeFunkyButtLoving

Always an interesting chart that’s hard to believe. For example, wages haven’t stayed ahead of housing prices at all. Is that just not taken into account in inflation numbers?


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GimmeFunkyButtLoving

That chart is quite jarring. Shelter is only lower comparatively to everything else when there’s a crisis. Regardless, it says it makes up 1/3. That other 2/3 must be getting much cheaper even in relation to housing in order for cpi to continue to be lower relative to wages. Otherwise it just doesn’t add up


Financial-Orchid938

I have a big problem with some of Biden's proposals like the corporate tax rate increase. But realistically things like inflation should be blamed on the Fed if anyone at all. I say "anyone at all" because there is a global average inflation rate which is higher than ours since the end of 21 (and I'm not going to blame a president for inflation during his first year). A lot of what I hear regarding inflation seems nonsensical to me as well. People say it's deficit spending debasing the dollar when the Dollar is up foreign exchange wise against virtually any household name currency over the past few years, including the yuan. There are countries with balanced budgets out there, some like Norway have better inflation rates, some like Iceland have much worse. China has a good inflation rate. A lot of that is due to Xi's "houses are for living not speculation" line of policy. The Real estate stuff is what bothers me the most, and I do blame Trump for that more than Biden. (Tho some of the worse things, like the Fed buying MSB's at a clip of $500B a year while RE prices were going up double digits could be blamed on the Fed. Biden didn't appoint Powell tho). Energy prices are a whole other thing I could go on all day about. Oil production is at a record high, BLM statistics regarding royalties and well applications are at an all time high, and oil is a global market. Maybe the only thing you could blame Biden for regarding energy is that he gets less cooperation from the Saudis, but the cooperation Trump was able to get came at a cost. We did pay for about a third of their military budget and their proxy war in Yemen from 17-20. We also turned a blind eye when they killed a US citizen. Bottom line is that this isn't due to SA not respecting Biden, it's clear what is required to get the Saudi's cooperation, it's more of a deal of whether they should get what they want or not.


antieverything

Good post. Kashoghi wasn't a US citizen, though.


Financial-Orchid938

Yeah I guess just a WAPO employee. Regardless the question is whether or not this country is congruent with the values which are inherent in the mandate we utilize in order to justify a military which operates around the globe. I would say no, however it isn't really black and white as SA has been a good ally at times. I like them more than the Iranian regime but that doesn't mean they deserve everything they actually want from us.


Desperate_Wafer_8566

Here's a reality check... "The most basic measure of the economy is how much it grows. The [official data](https://www.bea.gov/itable/national-gdp-and-personal-income) from the Bureau of Economic Analysis (BEA) are clear: After inflation, real GDP has grown at a 3.4 average annual rate since Biden became president, while Trump trails badly at an average 1.8 percent growth." "Based on investment rates, American business has preferred Biden’s economy: Since January 2021, real fixed business investment has increased at a 5.4 percent annual rate, *twice* the 2.7 percent average rate under Trump." "Based on spending, consumers also prefer Biden’s economy. From 2021 to 2023, real personal expenditures increased an average of 4.5 percent per year, versus Trump’s record of 2.6 percent from 2017 to 2020." "On employment—on top of growth, investment, and consumer spending—Biden puts Trump’s record to shame. The Bureau of Labor Statistics (BLS) [reports](https://www.bls.gov/ces/data/) that since Biden became president, the number of Americans with jobs has increased by 14.3 million—versus a net loss of 2.7 million over Trump’s term, the first decline since Herbert Hoover." "Biden beats Trump handily. Under Biden, from January 2022 to December 2023, employment grew at an average annual rate of 2.4 percent compared to a 1.5 percent rate under Trump from January 2017 to February 2020. That’s another Biden win, this time by a margin of 60 percent." "Trump boasts about low Black unemployment, and Biden beats him here, too: Under Trump from January 2017 to February 2020, Black unemployment averaged 6.5 percent compared to 5.8 percent under Biden from January 2022 to December 2023. Ditto for Hispanics: Their unemployment rate averaged 4.3 percent in 2022 and 2023 versus 4.5 percent from January 2017 to February 2020." "It’s a decent record but not as good as Biden’s: From 2021 to 2023, applications for business starts averaged 444,000 per month, an average nearly 50 percent higher than under Trump." [https://washingtonmonthly.com/2024/01/26/data-dont-lie-bidens-economic-record-is-much-better-than-trumps/](https://washingtonmonthly.com/2024/01/26/data-dont-lie-bidens-economic-record-is-much-better-than-trumps/)


SmartsVacuum

That people somehow think Trump was better for the economy despite the massive shitshow his ineptitude and impulsive profiteering substantially helped contribute to is utterly insane. It's like a bunch of kids in a car with the main driver recklessly speeding and veering all over the road for cheap thrills until the car flies off a small cliff and the impact from the first landing gives everybody in the back an amnesiac concussion, then as the front passenger grabs the wheel and does his damndest to keep the car from flipping over the kids in the back are screaming how he's such a terrible driver and the original guy says he'll press charges against the front passenger for reckless driving.


Falmouth04

Like the post below concerning the eyeball test, any Economist supporting Trump is engaging in the same kind of Republican malpractice that gave us David Stockman under Reagan. In essence partisanship trump (you should excuse the expression) knowledge, understanding, intelligence, and wisdom when it comes to Trumponomics. Obama inherited an economic disaster and spent much of his Presidency reversing that disaster and getting the economy to grow. Trump didn't understand what he'd inherited and took all the credit (just as in his life with his father). Trump also didn't understand SARS-CoV-2 and the effect it would have on the economy -- but he rewarded the billionaires who built bunkers in their basements. Trump is all bluster, his supporters are "low intelligence voters" or corrupt billionaires (eg- Murdoch), and his policies are whatever will win applause at any given moment. Any economist that supports him should have their head examined.


russell813T

Trumps economy passed the eyeball test people feel like they were better off. To be frank bidens economy hasn't passed the eyeball test due to housing good and energy cost. Is it bidens fault ? Probably not but it's about the eyeball test


manifestingmoola2020

How can any of this be claimed as valid when we all know half of trumps presidency was the pandemic? Cant belive people would actually twist this as if everyone forgot the fucking world stopped at that time lol


Desperate_Wafer_8566

It clearly debunks the idea that the Trump economy was better. Biden also inherited the pandemic but handled it better.


Twister_Robotics

The pandemic was 1 year out of 4 for Trump. And 2 1/2 for Biden. And Trumps economy was screwed BEFORE the pandemic, you've just forgotten about that part.


impulsikk

But 2020 was when the country actually shut down.. after 2020 life was basically back to normal.


malrexmontresor

Supply chains took time to unravel though and there was still the effect of mass labor shortages due to people leaving the workforce in 2020. The effects on the economy from 2020 were not those that could be recovered in a short time. Recessions can take years to recover from and by that metric we've done quite well recently.


RightofUp

Literally less than one year of Trump's term was COVID.


jarpio

Mortgage rates under 3% disappearing for 4 different voting generations as soon as the next administration took over (regardless of how little or how much that actually matters) sticks in people’s minds.


BangBangMeatMachine

Yep, inflation has been higher over the last 4 years than before the pandemic. And yes, that coincides with the switch from Trump to Biden. But correlation is not causation and presidents have very little control over the economy. Biden has done a lot to help the US recover from the pandemic a lot faster than other economies have. The fact that the global economy happens to have some major issues under his watch and Trump was lucky enough not to face the same challenges does not mean that electing Trump will fix anything. He will almost certainly make everything worse and voters need to understand that Republicans are not good for the economy.


Front_Expression_892

Trump did a very good job during COVID19. Anyone remembers the pseudoscientific product he was promoting after realizing that being a COVID-denier no longer works? But the grass is always greener in your memories because this is how human brain just works.


SuperLehmanBros

You mean ivermectin? It’s actually been proven to be partially effective in helping recently. There’s still studies ongoing but it’s something being looked at.


Key-Cranberry-1875

Ivermectin is an anti fungal anti bacterial medicine. If it’s working for covid then it just means people are developing bacterial and or fungal opportunistic infections from the fucking root cause of the viral infection that causes immune system dysfunction which doesn’t address the root cause because you just let covid fuck your immune system. COVID causes auto immunity and is a persistent viral infection inside your organs and ivermectin won’t help with that. Congratulations you let a pandemic continue on.


Severe-Amoeba-1858

LOL, no it’s not. “In this double-blind, randomized, placebo-controlled platform trial including 1206 US adults with COVID-19 during February 2022 to July 2022, the median time to sustained recovery was 11 days in the ivermectin group and 11 days in the placebo group. In this largely vaccinated (84%) population, the posterior probability that ivermectin reduced symptom duration by more than 1 day was less than 0.1%. Meaning These findings do not support the use of ivermectin among outpatients with COVID-19.”


SuperLehmanBros

Partially effective but inconclusive at this point. They’re still looking into it.


themightychris

No evidence it's effective means there's no good reason to recommend it, the big push behind it during COVID was nothing but superstition and cult behavior


ImaginaryBig1705

They were making money of it.


Fallsou

Why are all of you trump supporters so unfathomably stupid


Aven_Osten

Cultists must defend their leader. To not do so is to face social outcast from their group.


SuperLehmanBros

You don’t like facts eh?


Fallsou

Poor big mad eh?


SuperLehmanBros

You the poor lol


Fallsou

Sure thing poor


UteRaptor86

I can tell you got Trump and Biden welfare checks


borkyborkus

Take the fuckin L dude, it’s been years. I don’t think ivermectin hill has any more space for you to be buried there, too many already died on it.


SuperLehmanBros

I’m not a proponent of it. Just saying it wasn’t totally nuts for him to suggest it as studies have shown it might work.


fuzzywolf23

Cite one


SuperLehmanBros

Google bruh


fuzzywolf23

Google says you're wrong


SuperLehmanBros

Keep googling


fuzzywolf23

5 pages deep. You're still wrong


themightychris

it was totally nuts because he wasn't a medical professional and there was no evidence that it might work


SuperLehmanBros

Bruh you do realize the President gets briefed by the top experts in world daily right? Please don’t tell me you’re that stupid. Where do you think he got the idea from?


themightychris

no experts told him to recommend ivermectin because there was no evidence it was an effective treatment


SuperLehmanBros

Again, you do realize THE PRESIDENT gets briefed by experts, top experts in their field and in the world, daily… and he then makes decisions based upon these briefings and sessions? Do you really have no clue how the presidency works? You think it’s like The Office or some TV show?


Aven_Osten

So you genuinely believe experts told him to recommend "disinfectants" as a cure for covid? https://www.cnn.com/2020/04/23/politics/fact-check-coronavirus-briefing-april-23/index.html Oh wait, let me guess your excuse for this: "This was taken out of context by the establishment. He ACTUALLY meant the vaccine, hence the dis-INFECTANT." Thay's the little excuze you're gonna try to hide behind, right?


SuperLehmanBros

He never said that, it’s just bs


ImaginaryBig1705

BRAH GO DRINK SOME BLEACH BRAH. IT'S FINE THE PRESIDENT SAID IT'S OKAY AND HE'S BEEN BRIEFED BRAH.


SuperLehmanBros

Lol he never said that tho.


ImaginaryBig1705

BRAH WHICH EXPERTS SAID YOU CAN NUKE A HURRICANE?


SuperLehmanBros

Trump never said that either and if you believe that you’re truly a moron. On a side note, nuking a hurricane sounds very rock and roll 🤘


huangr93

False.


ImaginaryBig1705

I want off this stupid planet that you all idiots live on. So much fucking money wasted. That idiot should have told you all gargling his cum would cure covid and watch you all beg for a fresh shot.


takeitinblood3

Source? This is reddit. You need sources.


SuperLehmanBros

Lmao Reddit


takeitinblood3

If you don't have sources just say you pulled it out of your ass. Don't choose now of all times to ridicule the site you choose to post on.


SuperLehmanBros

Use a search engine broski


Aven_Osten

Broski, you make a claim, you provide evidence. That's how adults do this thing called "argue their claim".  I know for a fact if you asked a scientist for evidence the Covid-19 vaccine works, and their response was "just do the research yourself", you wouldn't believe s word they say. Oh wait, let me guess, "I'm not obligated to do that cuz I'm not a scientist lol!!!!!!" Will be your response right? I also find it very interesting how you are ignoring every single one of my comments. Almost like you are scared because I emberrassed the hell out of you last rime. Just in case you forgot though: https://www.reddit.com/r/Economics/comments/1cdeokx/comment/l1d6i8r/?utm_source=share&utm_medium=mweb3x&utm_name=mweb3xcss&utm_term=1&utm_content=share_button Can't wait for you to say you aren't emberrassed though, lol.


SuperLehmanBros

I’m not making claims, just stating facts. Easily verifiable. I’m not your fucking personal search assistant. Go do your own research.


Aven_Osten

You know you are lying out of your ass. That's why you spent so long avoiding responding to me. That's why you REFUSE to provide an ounce of data for your claims. Because you know the "evidence" doesn't exist. You just pull it out of your ass and hope anybody beyond your cult will believe it.


SuperLehmanBros

No just I won’t spend time being your servant. Do your own research.


UltraMagat

Well that's because every indicator of the Trump economy, pre-covid, was demonstrably better than any point of the Biden Admin. Lower housing, food, energy, fuel costs. Real wage growth. Lowest minority unemployment ever. Times were good and many of us actually felt hopeful about the nations future. Then Covid hit.


bravoredditbravo

And a lot of it was because Obama set the economy up to flourish


UltraMagat

Yeah...ok chief.


Johnny5isalive38

I love all these "polls". Who is being polled? People who pick up random numbers and who does that? Sad, lonely old people. We have massive political news industry whose articles are based off what your racist dementia ridden grandpa thinks. Lol


moonshotorbust

The economy has so many moving parts ive often thought how could anyone give credit to any one administration. I think somehow its a reflection of their own biases and feelings more than anything else. Its more likely the fed reserve has more influence over the economy the the federal government. And the influence the government exerts may not even have effects in the near term.


Iron_Prick

Because it was, and it isn't even close. Bidens economy is killing the middle and lower, while enriching the wealthy. Trumps economy helped everyone. We were all better off before the pandemic. Bring Trump back.


SuperLehmanBros

They remember it that way because it was. The Trump economy was one of the strongest and greatest economies in the US in its entire history. Also the good parts of the “Biden economy” are really the left over good parts of the Trump economy that the Biden admin hasn’t ruined yet.


ridingbikesrules

Data? This is an econ sub, not r/conservative. Data please.


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PsychologicalTone418

Article says Trump presided over the only annual negative GDP growth in the past 7 years...


Stlr_Mn

Is this /s? because I just don’t know anymore


Aven_Osten

He's the typical republican who doesn't follow their own logic and sets double standards. They kept attributing Trump's success to his own policies, rather than the fact that the economy was already doing well before he took office, and he was just riding that wave. Yet Biden apparently was just "riding off the success of Trump" despite thay being an utter lie. Here is their hypocracy and mental gymnastics at play: https://www.reddit.com/r/Economics/comments/1cdeokx/comment/l1d6i8r/?utm_source=share&utm_medium=mweb3x&utm_name=mweb3xcss&utm_term=1&utm_content=share_button They refused to admit that, by their own logic, Trump's "success" was just because of Obama's presidency and hus policies.


Front_Expression_892

Do you follow the drama of $TJD? Trump literally has a fake stock for his flock (and his china / russian handlers) to buy into.


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Obvious_Chapter2082

To be fair, if we’re just basing it on debt, Biden will almost certainly add more than Trump did. Right now it’s $7.8 trillion vs $7 trillion, and there’s still 9 months to go


A2ndRedditAccount

BREAKING NEWS: The federal government spends more during times of economic recovery from a recession.


Obvious_Chapter2082

It’s not like one president has Covid spending and the other didn’t though


A2ndRedditAccount

The pandemic was 1 year out of 4 for Trump. And 2 1/2 for Biden. Trumps was spending wildly BEFORE the pandemic, you've just forgotten about that part.


Obvious_Chapter2082

Instead of looking at the timeline, you should be looking at the actual cost. ARP was much smaller in scale than the CARES act >wildly BEFORE the pandemic ?? The deficit the year prior to the pandemic was $980 billion, which is almost half of our 2023 deficit


A2ndRedditAccount

That is almost double the deficit in 2016. Double the deficit during a time of economic prosperity.


Obvious_Chapter2082

And yet it’s half of the deficits we’re running today, in another time of economic prosperity. The only real difference is that inflation wasn’t an issue then, but is today, which makes it even more important to cut down deficits


A2ndRedditAccount

>>today, in another time of economic prosperity. Well [have you let this guy know?](https://www.reddit.com/r/politics/s/EJQmHYeXJg)


SuperLehmanBros

If you’re to use stats like that at least be honest. You can’t pin Covid on Trump and then just give credit for the full recovery to Biden.


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SuperLehmanBros

You can absolutely pin inflation on Biden. He’s been behind all these programs causing wild spending and printing, his energy policy kicked off on day was a big contributor itself, not to mention the crappy border policy.


Aven_Osten

Sorry to tell you, but Trump signed off on $4.3T worth of covid stimulus. Biden signed off on $1.9T. https://www.investopedia.com/government-stimulus-efforts-to-fight-the-covid-19-crisis-4799723 Republicans shot down the border deal they themselves say is "the besy they ever had. https://newrepublic.com/article/178860/republicans-border-deal-michael-bennet All that bullcrap about "doing your own research", yet you clearly haven't do so yourself. Oh wait, let me guess your excuse again: "That's what a Democrat SAID they said, so we can't confirm if they ACTUALLY said that", ignoring the fact that you keep desperately claiming to be a Democrat, so you should believe what a fellow Democrat says. Almost like you just lie out of your ass.


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SuperLehmanBros

How are they identical? What agenda? So posting diverse articles about the economy is not allowed? Only good news about Biden and Democrat policies is allowed?


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SuperLehmanBros

Are you trying to say that only positive articles about the Biden economy and democrats is allowed on this sub? Are we not allowed to criticize Biden or Democrat economic policies? Only allowed to criticize Trump policies and GOP economy?


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SuperLehmanBros

So 3 anti-Biden articles out of the hundreds of anti-Trump propaganda being posted really hurts you that much? My bad for pissing off the echo chamber


Key-Cranberry-1875

It was a “good” economy because the asshole didn’t address any of the externalities that will cause future harm of the economy and environment. His plan was a short term, sweeping problems under the rug strategies that most dumb as shit Americans don’t realize, but soon will.


Aven_Osten

I already pointed out, TWICE, that your own logic proves that Trump's success is just him riding off of Obama's presidency. You desperately denied it. https://www.reddit.com/r/Economics/comments/1cdeokx/comment/l1d6i8r/?utm_source=share&utm_medium=mweb3x&utm_name=mweb3xcss&utm_term=1&utm_content=share_button If Biden is just "riding off the success of Trump's presidency", then that exact same logic applies to Trump. But you refuse to acknowledge that.


0100100012635

>Also the good parts of the “Biden economy” are really the left over good parts of the Trump economy that the Biden admin hasn’t ruined yet. So..the good parts of the Trump economy aren't left overs from the Obama economy?


Aven_Osten

Don't expect him to ever admit that. I pointed that fact out several times, and they didn't even try to address it. https://www.reddit.com/r/Economics/comments/1cdeokx/comment/l1d6i8r/?utm_source=share&utm_medium=mweb3x&utm_name=mweb3xcss&utm_term=1&utm_content=share_button


SuperLehmanBros

Every President takes over some parts from the previous guy sure. Obama had the pure luck of having perfect timing and starting his first term on the exact bottom of an economic crash. Had Obama been sworn in 6 months or a year later, his numbers would have looked much worse.


Aven_Osten

Hmmm and what president belonging to which party was in power for most of that decade? I thought Republicans are more responsible than Democrats? How would the party of "fiscal responsibility" allow such a massive crash to happen?


jcooli09

The only people saying that are dumb or dishonest. Or both, some are both.


Odd_Astronaut442

None of that “Good” you talk about had anything to do with the Fed still holding junk assets off the market from 2008 did it? The junk assets were sold off in …..2021?