Biden’s economy

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:we are in a Great Depresssion now.

Riiiiggghttt! Unemployment is under 4%. Incredible. At the same time, I understand that people are suffering from an affordability crisis. What worries me is that we continue to try to use pre-pandemic solutions to address a post pandemic economy. We don't really have the tools to address our housing and child care crisis.

Trump is not going to be any better. In fact, he wants tariffs and reduce immigration - 2 things that will significantly increase inflation.

I want both parties to find new solutions to improve this new economic reality. According to economists, affordability has been decreasing since Obama was President and has continued to be problem during Trump and Biden, but interest rates were so low, no one was paying attention.

I worry that once interests rates decrease, housing costs will explode again.

No, the unemployment rate just rose to 4 percent, highest in two years.

Should I complain that your eating fast disgusting food is increasing my health insurance?

A lot of people are being priced out of fast food in Biden’s economy and CA’s minimum wage edicts are making it worse there.

Three largest restaurant (and fast food) chains in the world.

Mcdonald's
2021 gross profit = 12.58B (29% increase from 2020)
2022 gross profit = 13.207B (4.98% increase over 2021)
2023 gross profit = 14.563B (10.26% increase on 2022)
2024, gross profits for 12 months ending 3/31/24 = 14.688B (9.03% increase year-over-year)
2024 first quarter profit 2024 = 3.439B (3.77% increase year-over-year, but on track to have a full year profit increase over 10%)

McDonald's CEO was paid $19.2M in 2023, up 8% from 2022 ($17.8M).

Most of the major fast food chains are also totaling record profits and CEO raises from 2021-2024.

Subway
2020 profit $8.32B
2021 profit $9.4B
2022 profit $10.37B
2023 profit $16.1B

Starbucks
gross profits 2021 = $20.322B (28.43% increase over 2020)
gross profits 2022 = $21.933B (7.93% increase over 2021)
gross profits 2023 = $24.567B (12.01% increase over 2022)
2024, 12 months ending 3/31/24 = $25.104B (8.86% increase year-over-year)
2024, first quarter = $5.914B (0.06% decline year over year), but still on track to clear $25B.

Starbucks CEO salary,
2021 = $14.67M (up 39.3% over 2020)
2022 = $16.7M (outgoing CEO, so this was only for part of 2022)
2023 = $17.6M (new CEO, if he had worked full year, but only worked part of 2023, and earned $14.6M)


So, the fast food corporations are raking in BILLIONS in profit and bigger profits each year, while playing significantly over the standard COLA adjustment of most workers. How is Biden responsible for the increase in fast food prices that are entirely based on corporate greed?

These are franchises. Did you not get the memo?

[Anonymous]

[Anonymous]

Wow, Jay Powell called out the Administration today

[Anonymous]

Anonymous wrote:

Wages are up 24%.

[Anonymous]

[Anonymous]

[Anonymous]

Anonymous wrote:$1000 for a 4 night stay in a hotel in VIRGINIA BEACH .

Four Points by Sheraton Virginia Beach Ocean front Hotel. In 2020 we stayed a week for just $500.00

I stayed in Virginia Beach on the government rate (read: below market) in June 2019 mid week for $207/night.

2020 was an anomaly and $250/night in 2024 is probably a good deal.

[Anonymous]

Anonymous wrote:

Anonymous wrote:$1000 for a 4 night stay in a hotel in VIRGINIA BEACH .

Four Points by Sheraton Virginia Beach Ocean front Hotel. In 2020 we stayed a week for just $500.00

I stayed in Virginia Beach on the government rate (read: below market) in June 2019 mid week for $207/night.

2020 was an anomaly and $250/night in 2024 is probably a good deal.

Agree. A pre-COVID stay in 2020 would have been off season. A post-COVID stay in 2020 would have been during a horrible time for travel when hotels would have taken any business available (and priced accordingly). Not a good baseline comparison for 2024.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:$1000 for a 4 night stay in a hotel in VIRGINIA BEACH .

Four Points by Sheraton Virginia Beach Ocean front Hotel. In 2020 we stayed a week for just $500.00

I stayed in Virginia Beach on the government rate (read: below market) in June 2019 mid week for $207/night.

2020 was an anomaly and $250/night in 2024 is probably a good deal.

Agree. A pre-COVID stay in 2020 would have been off season. A post-COVID stay in 2020 would have been during a horrible time for travel when hotels would have taken any business available (and priced accordingly). Not a good baseline comparison for 2024.

Apparently PP’s was both! April 2020. Not sure what point they were trying to make.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:$1000 for a 4 night stay in a hotel in VIRGINIA BEACH .

Four Points by Sheraton Virginia Beach Ocean front Hotel. In 2020 we stayed a week for just $500.00

I stayed in Virginia Beach on the government rate (read: below market) in June 2019 mid week for $207/night.

2020 was an anomaly and $250/night in 2024 is probably a good deal.

Agree. A pre-COVID stay in 2020 would have been off season. A post-COVID stay in 2020 would have been during a horrible time for travel when hotels would have taken any business available (and priced accordingly). Not a good baseline comparison for 2024.

Apparently PP’s was both! April 2020. Not sure what point they were trying to make.

But that’s true for a lot of the posts on this thread.

A lot economic wishful thinking: I want everything to be cheap, but have a large salary myself. I don’t want to pay taxes, but I want the government to take care of me.

[Anonymous]

I took the metro bus yesterday, and I SCREAM when they said it was $2.00, back in the 1990s it was just .50 cents. When I scream and WOW, he said its okay, and I didn't have to pay crazy tho.

[Anonymous]

Oh look whose stealing good old white boys & girls

https://nypost.com/2024/03/12/us-news/san-diego-mom-masterminded-organized-retail-theft-ring-cops/

[Anonymous]

Anonymous wrote:Oh look whose stealing good old white boys & girls

https://nypost.com/2024/03/12/us-news/san-diego-mom-masterminded-organized-retail-theft-ring-cops/

Who said anything about race…other than you of course?

[Anonymous]

Anonymous wrote:I took the metro bus yesterday, and I SCREAM when they said it was $2.00, back in the 1990s it was just .50 cents. When I scream and WOW, he said it’s okay, and I didn't have to pay crazy tho.

Give me a break. You’re comparing prices from 30 years ago.

[Anonymous]

US Jobless Claims Rise to Highest in 9 Months, Led by California

- New applications rose to 242,000 last week, more than expected
- Four-week moving average climbed to highest since September

https://www.bloomberg.com/news/articles/2024-06-13/us-jobless-claims-rise-to-highest-in-9-months-led-by-california?sref=Fbhig0fX