Fox cable hosts are doing the job of the chair of the White House Council of Economic Advisers, Jared Bernstein, by admitting that the economy under President Biden is strong. Bernstein joins MSNBC’s Ali Velshi to discuss the latest “expectation-busting” jobs report.
    • Pyr_Pressure@lemmy.ca
      652·
      10 months ago

      The economy is booming because of all the money corporations are charging you for your food and rent.

        • Cryophilia@lemmy.world
          513·
          10 months ago

          God I hate how insular tech workers are. Anything that happens in tech, they think happens universally.

          When the economy was tanking and tech was doing great: “the economy is very fair and just, you need to work harder bootstraps blah blah”

          When house prices soared: “just buy a house in the middle of nowhere for dirt cheap and keep making your big city salary like me!”

          Now the economy is doing great and tech is finally experiencing a correction: “omg the sky is falling!!”

      • Bakkoda
        21·
        10 months ago

        Ding ding! Record profits? Use a single measley lawsuit and rebrand+spin off your debt and liability, file for bankruptcy and live the American dream.

    • SpaceCowboy@lemmy.ca
      4014·
      10 months ago

      Fuck the economy. Make my goddamn grocery bill go down. Make the fucking rent go down.

      These things are actually the things that make up the economy.

      The problematic thing with inflation is that when people get a pay raise they think it’s not because the economy improved, it’s because they worked hard for that pay raise. Sure no one’s disputing that you worked hard, but if you worked hard and the economy didn’t improve you wouldn’t have gotten that pay raise.

      And yeah food prices are high. Something about a land war in the part of Europe that produces a lot of the global grain supply may have something to do with that. That situation would be resolved sooner if the GOP stopped blocking the funding to go towards ending that situation sooner.

      Real estate… yeah that’s because the rich suck. Gotta tax those bastards so they don’t keep dumping their excess wealth into real estate which drives up prices. But again, the GOP isn’t going to approve of that.

      Biden has done insanely well on the economy despite the efforts of the GOP to sabotage him.

      So be angry, but know who to be angry at. The guys blocking things have a majority in congress and has the filibuster in the Senate. Maybe that should change?

        • ultranaut@lemmy.world
          133·
          10 months ago

          People making minimum wage are not the largest group of earners, its actually a very tiny minority of workers that earn the minimum wage.

          • KevonLooney@lemm.ee
            144·
            10 months ago

            This person just wants to be angry. They haven’t proposed anything useful or mentioned anything possible to change. They might feel bad and not vote.

            Don’t let them pull you down to their level. Even if you’re depressed about the state of things, vote anyway. The people causing the problems want you to be depressed and not vote. Vote anyway. You can still complain later.

            Edit: told you

                  • Cryophilia@lemmy.world
                    42·
                    10 months ago

                    Give us a Democratic supermajority, and we will rock your world with positive effects. That’s what we’re asking. It’s not a “just keep voting” thing, it’s a specific goal: we need enough Democrats in the legislature to override Republicans.

      • kava@lemmy.world
        416·
        10 months ago

        So be angry, but know who to be angry at.

        Lockheed Martin and company along with the politicians they own perpetuating endless war, leading us into the abyss while chasing short term profits.

        Both the Gaza war and the Ukraine war are inflationary pressures and the US is pumping billions of dollars into both.

          • kava@lemmy.world
            21·
            10 months ago

            closest i’ve ever been to russia is reading crime and punishment

            you’ve been convinced war = good but it doesn’t have to be that way

              • kava@lemmy.world
                21·
                10 months ago

                I’m an American citizen, not a Russian. Therefore I care about American policy because it’s the one I have a modicum of influence in.

                Russia invaded Ukraine - they are the aggressor. However, it doesn’t follow from that statement that we should send billions of dollars worth of killing machines to Ukraine.

                Our actions have a) funneled over $150 billion dollars worth of $$$ from public hands (our taxes) into the hands of wealthy private corporations. Go and look up how the stock price for Lockheed Martin reacted to the invasion in 2022.

                b) prolonged a war which will inevitably end with Russia taking territory. This has two consequences

                1. like Chomsky says we are “fighting to the last Ukrainian”. We are absolutely fucking the demographics of a country for the next century if not more. The rebuilding costs will be over 3x what we’ve spent so far - and ill eat my shoe if the benevolent Western countries are going to foot the bill.

                2. this prolonging has caused global economic mayhem and it looks like it’s going to cost the Dems the election - bringing us Trump and a further fall into fascism.

                We are sacrificing the world for $$$. Capitalism is killing itself. It’s as if we are trying to replicate the 20th century.

                • Cryophilia@lemmy.world
                  11·
                  10 months ago

                  Hahahaha

                  From your own arguments, we are actually sacrificing $$$ for the world, not the other way around. I’m happy for my tax dollars to pay to rein in the aggression of Russia and maintain the independence of Ukraine. Fuck Russia. Slava Ukraine. We should be sending them more.

                  • kava@lemmy.world
                    22·
                    10 months ago

                    so easy to beat the war drums when the hundreds of thousands of young men dying aren’t you, right?

                    at this point i’m convinced you’re a bot because you have said nothing meaningful or original up to this point

      • gun@lemmy.ml
        69·
        10 months ago

        No he’s not trying. He’s giving the appearance of trying just in time for 2024. Do you really think Biden is going to take on Blackrock?

        • mrbm@lemm.ee
          3·
          10 months ago

          Slim chance but still better than the odds of the republicans doing it.

    • oxjox@lemmy.mlEnglish
      91·
      10 months ago

      I wouldn’t get your hopes up on substantially lower grocery bills.

      https://www.washingtonpost.com/business/2024/02/02/grocery-price-inflation-biden/

      But there is no immediate fix for policymakers. Grocery prices remain elevated due to a mixture of labor shortages tied to the pandemic, ongoing supply chain disruptions, droughts, avian flu and other factors far beyond the administration’s control. Robust consumer demand has also fueled a shift to more expensive groceries, and consolidation in the industry gives large chains the ability to keep prices high, economic policy experts say.

      “I think people are waiting for prices to return to what they call ‘normal’ — and with the exception of a few things, like eggs — we’re not going to see that. We’re going to see prices stabilize, and that’s likely it,” said Dawn Thilmany, an agricultural economist and professor at Colorado State University.

        • rdyoung@lemmy.world
          44·
          10 months ago

          That’s not what that says at all.

          What it says is that people are feeling more flush with cash and are opting for higher end brands of food over the store brands or nicer cuts of steak or going out to a nicer restaurant instead of just hitting up McDonald’s or shoneys. This is proof that the economy is doing well.

          • hark@lemmy.world
            72·
            10 months ago

            Flush with cash, my ass. Also, mcdonalds is expensive as fuck.

            • rdyoung@lemmy.world
              1·
              10 months ago

              If you think mcds is expensive you clearly don’t know how to eat there and you’ve definitely not eaten anywhere with real food. I try to keep my mcds to a min but when I am working and need something I can get out of there with spending like $6 tops, $8+ if I am feeling “fancy” and grab a frozen coffee with an extra shot.

              You’ve also definitely not noticed how packed even the more expensive steak houses are at pretty much all open hours. I’m talking the places where you can’t spend less than $200 for a meal for two.

              I drive for a living and I can tell you for a fact (in my neck of the woods) that the economy is doing just fine, people are doing okay, not as great as they could/should be but most definitely aren’t at poverty level.

              You lot need to start getting your data from sources that aren’t biased and aren’t trying to keep you pissed off so you keep reading the bullshit they call news.

              The stock market hasn’t been a good indicator of the economy for decades now. What is an indicator is what I was correcting a misinterpretation of. If you want to see how the economy is doing in your area, drive around downtown or the other hotspots like music venues and restaurants in the evenings and see how packed it is.

              • hark@lemmy.world
                1·
                10 months ago

                Mcdonalds is expensive for what you get. I don’t eat at steakhouses because they’re similarly overpriced. When I go out to eat, I do so to eat things that are more difficult or time-consuming to make at home and steak is among the easiest. Anyway, the fun part about judging the economy based on how packed venues and restaurants are is that credit goes a long way until it doesn’t. Credit card debt and delinquencies are climbing.