I understand that people are upset with high food prices. However, high food prices isn't "the economy." Its actually a sign of a strong economy because people are willing to pay those prices. The fact of the matter is that most Americans are extremely stupid. They equate "the economy" with their grocery bill going up. That's not "the economy" and have 0 to do with who the President is.
For only $869K, you can live on Mexican War Streets
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I understand that people are upset with high food prices. However, high food prices isn't "the economy." Its actually a sign of a strong economy because people are willing to pay those prices. The fact of the matter is that most Americans are extremely stupid. They equate "the economy" with their grocery bill going up. That's not "the economy" and have 0 to do with who the President is.
You dont understand basic economics and that's ok. Few people do. Let me ask you this question:
If the economy keeps sizzling these next 4 years: lower unemployment, more stock market growth, nice wage growth: will food prices go up or down?
There is a lot of construction downtown related to the BRT project. The federal government handed out $150 million to make the bus ride from downtown to Oakland 20 seconds faster.
With all the completely moronic statements you've made about economics over the years (including this one), you telling someone they don't understand basic economics is hilarious.
Prices aren't going to come down. But most people, apparently not you, but most people, understand that there is just a little bit of difference between prices going up, say, 2% and prices going up, say, 7%.
I mean it was just two years ago that inflation ran 6.5% for the year in a year that the economy grew at 1.9%. Anyone who understands basic economics knows that 1.9% is not only not sizzling, it's actually below average. And anyone who understands basic economics knows that 6.5% inflation is historically really high.
Do you really think that 1.9% growth is a sign of a "sizzling" economy? Or that 6.5% inflation is normal in any economic times, let alone in a time of below average economic growth?
You know the BLS puts out basically fake data right? For example, they haven't included long term discouraged workers in the unemployment rate since 1994.
Credit card debt is way up and auto loan/ student loan delinquencies are up also.
Home ownership costs are skyrocketing, such as insurance rates, repair bills, utility bills, etc.
Yes, some people have money. Many do not. I am a landlord in a low income neighborhood. I know people who get by on $1,300 a month, but only because they don't work and get super cheap housing. If they were to get a job and lose their disability and low income benefits, they'd be in the street fast.
Many home depot staples have gone up 1.5-2x in cost since 2020. And home depot and Lowes totally eliminated paint sales, while raising paint prices by about 25%. Renovation expense is sky high, and labor costs are hideous.
Prices are high because the united states printed 80% of the money in circulation since 4 years ago. Yes, that's not a typo.
5 years ago I was buying houses in allegheny county for $5,000-$20,000 in decent shape. Those same houses are now more like $40,000-$60,000+. Cheap starter homes are nearly non-existent. Plus mortgage rates have more than doubled since a few years ago.
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You are using GDP numbers from 2022 a year after GDP growth was a historically high near 6%. To be fair, a lot of that was due to the Covid rebound. Does anyone get credit 2021?
Again, inflation isn't "the economy." People see high food prices and think the economy stinks. That's not how this works. You, yourself just said prices aren't coming back down. There are true idiots who believe that they will start droppin on January 20. Inflation was mostly food. That's what was noticeable. People remembered what they paid pre-Covid and dont like that it went up. Doesn't matter that it had very little to nothing to do with Biden/Harris. Doesn't matter if their salary has kept up or outpaced inflation. They are mad their bills are more than 2019 so someone has to be blamed.
He has no idea it's simply inflation. Had covid not happened, I'd still be buying houses for close to what I was 5 years ago in my neighborhood.
True story. In March of 2020 I bought a house for $5,000 at sheriff sale. Nobody else even bid. We're talking about 500+ property sharks who wouldn't bid on an occupied and liveable house (meaning it wasn't garbage, had a good roof, etc).
3 months later, after everyone was rich with covid money, the house across the street went for $35,000 with tons of bidders. Same deal with all the other houses in the area. Too much money chasing shit does that. Not a good economy. I don't understand how hyperinflation means the economy is good. My rents did not increase nearly enough to cover inflation related expenses.
This was not an organic increase due to the area appreciating. This happened almost overnight when the covid millions of dollars started flowing into so many hands.
It's as if, making a deal in 2020 to cut oil production by 10 million barrels a day wasn't a good idea...oddly inflation started to come down with the expiration (2022) of that deal. It seems people liked the policies that caused inflation or are just really stupid and can't figure out how the world works.
