Biden’s economy

[Anonymous]

Inflation over the first 40 months in office:

Carter - 27.8%

Biden - 19.3%

Reagan - 18.5%

Bush1 - 15.0%

Clinton - 9.3%

Obama - 8.1%

Bush2 - 6.7%

Trump - 5.0%

[Anonymous]

Anonymous wrote:Inflation over the first 40 months in office:

Carter - 27.8%

Biden - 19.3%

Reagan - 18.5%

Bush1 - 15.0%

Clinton - 9.3%

Obama - 8.1%

Bush2 - 6.7%

Trump - 5.0%

Now do unemployment rates.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Inflation over the first 40 months in office:

Carter - 27.8%

Biden - 19.3%

Reagan - 18.5%

Bush1 - 15.0%

Clinton - 9.3%

Obama - 8.1%

Bush2 - 6.7%

Trump - 5.0%

Now do unemployment rates.

First 40 months? Feel like it will be about the same order…

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Inflation over the first 40 months in office:

Carter - 27.8%

Biden - 19.3%

Reagan - 18.5%

Bush1 - 15.0%

Clinton - 9.3%

Obama - 8.1%

Bush2 - 6.7%

Trump - 5.0%

Now do unemployment rates.

First 40 months? Feel like it will be about the same order…

No it won’t. Biden has the lowest unemployment rates in about the last 50 years. Phillips curve. So would you rather have a job and inflation? Or be unemployed?

[Anonymous]

[Anonymous]

Rut Ruh

[Anonymous]

Anonymous wrote:Inflation over the first 40 months in office:

Carter - 27.8%

Biden - 19.3%

Reagan - 18.5%

Bush1 - 15.0%

Clinton - 9.3%

Obama - 8.1%

Bush2 - 6.7%

Trump - 5.0%

And that's with modern juiced numbers

"Change No. 1: Inflation doesn’t include house prices
People who are skeptical about America’s inflation measures often cite a change to how home costs are measured in the Consumer Price Index, a closely watched metric produced by the Bureau of Labor Statistics.

In 1983, the government switched from using home prices — which also included mortgage payments and maintenance costs — to using rental prices to gauge the cost of housing.
...
Change No. 2: Economists swap expensive products for cheaper ones
Economists once collected a basket of items — like eggs, milk, shampoo and other items — and simply tracked how much they cost over time, updating the basket only rarely. But that measure was criticized for potentially overestimating inflation because it ignored that consumers adjust their spending both over time and as prices increase.

Economists began to update the basket more regularly about 20 years ago, and the weights are now reset every two years to reflect what people actually spend their money on.

They also tried to account for substitutions. Imagine that the price of cupcakes went up one month. Instead of paying more, a consumer might buy cookies instead — a decent but cheaper dessert alternative — and their monthly costs wouldn’t go up."



https://www.nytimes.com/2022/05/24/technology/inflation-measure-cpi-accuracy.html

[Anonymous]

Why Consumers Are Angry About the Economy in Five Pictures

May 31, 2024

Today the BEA released April data on inflation-adjusted income and spending. Let’s discuss the charts.

https://mishtalk.com/economics/why-consumers-are-angry-about-the-economy-in-five-pictures/

[Anonymous]

Funny, I did my weekly grocery shopping today and with the loyalty membership, everything was back to pre-COVID prices.

[Anonymous]

Anonymous wrote:Funny, I did my weekly grocery shopping today and with the loyalty membership, everything was back to pre-COVID prices.

Funny, I don't believe you.

[Anonymous]

[Anonymous]

Anonymous wrote:

COVID, high fuel prices, and supply chain disruptions stemming from it drove a lot of the inflation. But then those root causes dissipated. Now there's no longer an excuse for inflationary prices. We see huge corporate profits - it's corporate greed. But that's a bubble that must burst. Prices and inflation will indeed come down.

[Anonymous]

in 2016- you could raise a family of 4 for $12 an hour in West Virginia now you cant

[Anonymous]

2024---- Spend $250 on groceries a week for a family of 3. we skip breakfreast to save money.
2012 spending $120 on groceries every 2 weeks in a 3 person household. (WEST VIRGINIA).
in 2012 we were spending $10 a month on diapers for a new born. Wonder how much they are now.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Inflation over the first 40 months in office:

Carter - 27.8%

Biden - 19.3%

Reagan - 18.5%

Bush1 - 15.0%

Clinton - 9.3%

Obama - 8.1%

Bush2 - 6.7%

Trump - 5.0%

And that's with modern juiced numbers

"Change No. 1: Inflation doesn’t include house prices
People who are skeptical about America’s inflation measures often cite a change to how home costs are measured in the Consumer Price Index, a closely watched metric produced by the Bureau of Labor Statistics.

In 1983, the government switched from using home prices — which also included mortgage payments and maintenance costs — to using rental prices to gauge the cost of housing.
...
Change No. 2: Economists swap expensive products for cheaper ones
Economists once collected a basket of items — like eggs, milk, shampoo and other items — and simply tracked how much they cost over time, updating the basket only rarely. But that measure was criticized for potentially overestimating inflation because it ignored that consumers adjust their spending both over time and as prices increase.

Economists began to update the basket more regularly about 20 years ago, and the weights are now reset every two years to reflect what people actually spend their money on.

They also tried to account for substitutions. Imagine that the price of cupcakes went up one month. Instead of paying more, a consumer might buy cookies instead — a decent but cheaper dessert alternative — and their monthly costs wouldn’t go up."



https://www.nytimes.com/2022/05/24/technology/inflation-measure-cpi-accuracy.html

Ahh yes - The numbers are all fake because they no longer include the cost of horse liveries, ice delivery for refrigeration, lamp oil, and other common household expenses 100 years ago. /s