The Economy

[MajorRewrite]

I showed you evidence of how bad he Biden economy was, with actual numbers. Response: Claim I'm uneducated.

You provided no data about the economy during the a Biden administration.

Welcome to the Politics Board where Miserable left wingers come to drown in their tears. They hate facts and data.

… he said in a thread full of facts and data.

MAGA sheep get so weird when faced with bad economic news while Donnie is in office. They can’t handle it.

 

[heathrowinneo]

The average price of a pound of ground beef jumped to $6.31.

The average price of a pound of ground roast coffee soared to $8.87.

We are in a sad state of affairs when the minimum wage is less than some food per pound. Meanwhile, the 1% continues to accumulate massive wealth.

 

[MajorRewrite]

In the first 11 days of September we learned this about the economy:

• For the first time since 2021, more Americans are out of work than there are job openings
• Unemployment insurance initial claims jumped to the highest level since 2021
• Manufacturing contracted for the 6th straight month
• Construction spending continued to drop
• Unemployment ticked up to 4.3%
• The US agricultural trade deficit widened
• CPI inflation index increased to 2.9%
• Rent continued to soar

That’s a lot of bad news in less than two weeks.

 

[Lazaran]

In the first 11 days of September we learned this about the economy:

• For the first time since 2021, more Americans are out of work than there are job openings
• Unemployment insurance initial claims jumped to the highest level since 2021
• Manufacturing contracted for the 6th straight month
• Construction spending continued to drop
• Unemployment ticked up to 4.3%
• The US agricultural trade deficit widened
• CPI inflation index increased to 2.9%
• Rent continued to soar

That’s a lot of bad news in less than two weeks.

I’ll wait for BabyBoobs’ "interpretation" of those disturbing economic trends before forming any conclusions…



We. Told. Them. So.

 

[SkyBubble]

You provided no data about the economy during the Biden administration.

I did. For one thing, as I noted above, a study showed that a basket of groceries that cost $100 in 2019 (under Trump, prior to the pandemic lockdowns) cost $136 in 2024 (under Biden.) That's a 36% increase in 5 years. Gas prices were significantly higher when Biden left office than when he took office. They were down a little from their peak, but still much higher. Clothing and housing were also up.

Costs were up around 30% overall, but wages were up around 15%. That means that even with increased pay, working people got further behind.

That's called a bad economy.

Trump inherited a bad economy both times. In the first term, it was growing and thriving until the pandemic hit. So far, the second term hasn't worked out well. It is less than a year into the term, however.

 

[MajorRewrite]

I did. For one thing, as I noted above, a study showed that a basket of groceries that cost $100 in 2019 (under Trump, prior to the pandemic lockdowns) cost $136 in 2024 (under Biden.) That's a 36% increase in 5 years. Gas prices were significantly higher when Biden left office than when he took office. They were down a little from their peak, but still much higher. Clothing and housing were also up.

Costs were up around 30% overall, but wages were up around 15%. That means that even with increased pay, working people got further behind.

That's called a bad economy.

Trump inherited a bad economy both times. In the first term, it was growing and thriving until the pandemic hit. So far, the second term hasn't worked out well. It is less than a year into the term, however.

Why don’t you provide a link to the source for your “data”? Is it because you made it up?

Inflation in 2024 was 2.6%.

And low inflation was just one of many positive trends of the economy Trump inherited, as I demonstrated before.

 

[SkyBubble]

I don't care what the official inflation rate was.

On January 28, 2021, just 8 days into the Biden administration, the national average gas price was $2.41. On January 30, 2025 (just 10 days into Trump's second term), it was $3.11. That's an increase of 70 cents per gallon over the Biden years.

https://gasprices.aaa.com/2021/01/
https://gasprices.aaa.com/2025/01/

Left-wing Axios reported that a basket of groceries that was $100 in 2019 was $126 in 2024. A 26% rise in just 5 years.

https://twitter.com/x/status/1754509431067611407

https://finance.yahoo.com/news/much-grocery-prices-increased-since-140029491.html

According to the Yahoo Finance article I just linked, between November 2020 (just after Biden'e election) adn March 2024, eg prices alone went up 54%.

These are simply documented facts. They speak of a bad economy, not a good one.

 

[Lazaran]

I don't care what the official inflation rate was.

On January 28, 2021, just 8 days into the Biden administration, the national average gas price was $2.41. On January 30, 2025 (just 10 days into Trump's second term), it was $3.11. That's an increase of 70 cents per gallon over the Biden years.

https://gasprices.aaa.com/2021/01/
https://gasprices.aaa.com/2025/01/

Left-wing Axios reported that a basket of groceries that was $100 in 2019 was $126 in 2024. A 26% rise in just 5 years.

https://twitter.com/x/status/1754509431067611407

https://finance.yahoo.com/news/much-grocery-prices-increased-since-140029491.html

According to the Yahoo Finance article I just linked, between November 2020 (just after Biden'e election) adn March 2024, eg prices alone went up 54%.

These are simply documented facts. They speak of a bad economy, not a good one.

Do you understand how anything involving the economy works???



What am I saying…you OBVIOUSLY don’t understand how anything involving the economy works.



We. Told. Them. So.

 

[MajorRewrite]

I don't care what the official inflation rate was.

You could’ve stopped right there. You don’t care what the condition of the economy was when Trump took office, you just like to bluster. All MAGA sheep are like that.

 

[SkyBubble]

Do you understand how anything involving the economy works???



What am I saying…you OBVIOUSLY don’t understand how anything involving the economy works.



We. Told. Them. So.

You're funny, @Lazaran. I took several Econ courses. Yes, of course, I understand how hte economy works. That's why I gave beginning and end numbers.

I knew this was going to happen. You ask for evidence. I show it. You than claim it's invalid because it doesn't support your narrative.

 

[Setanta84]

The real economy has been in the toilet since the Neoliberal turn and tax revolt of the 1970s, i.e. when we abandoned the New Deal-Great Society platform and radically deindusrialized the country. We've just been very poorly managing imperial decline since then.

If you think the economy has been good at any point in the last 50 years, you're a partisan who doesn't understand the difference between Wall St. and the real economy

The Chinese economy is actually growing. It's why we're desperate to go to war with them. The Western economic elite cannot bear the idea of living in a multipolar world where China is the dominant power but not a unipolar hegemon.

 

[DanOkeffie]

It's not just that the US economy is growing at a healthy rate, it is also that the EU isn't growing and China is wandering to a recession. US economic growth has just been incredible during the Biden administration. As the Fed lowers rates, more rocket fuel on this amazing period of growth!

Biden walked into the Trump economy which was kicking ass. of course, biden did everything he could to kill growth. This is why we need Trump in office

 

[DanOkeffie]

I can't remember which moron on here was banging the drum for recession. You know, the one who doesn't even know the definition of it? Anyway, nearly 3% GDP growth is NOT a recession. Of course Fox News, like MAGA, doesn't believe facts.

MAGA? Congratulations, you are a special retard. Ask mom for a helmet, you fat cunt

 

[Setanta84]

Also, nobody in this thread seems to understand inflation. There has never been a deflationary period since the post-COVID inflation crisis began. Meaning inflation has never actually gone down. It has just been continuing to go up but less quickly than it did when it started.

A lot of you are confusing month-to-month inflation rates with the overall state of inflation.

 

[DeluxAuto]

Also, nobody in this thread seems to understand inflation. There has never been a deflationary period since the post-COVID inflation crisis began. Meaning inflation has never actually gone down. It has just been continuing to go up but less quickly than it did when it started.

A lot of you are confusing month-to-month inflation rates with the overall state of inflation.

Economic illiterates tend to talk the loudest, too.

 

[Setanta84]

Economic illiterates tend to talk the loudest, too.

They also seem to be mathematically illiterate. To have the same purchasing power of $1 in 2019, you need $1.24 today. That is not a 2-3% increase in inflation--

 

[DeluxAuto]

They also seem to be mathematically illiterate. To have the same purchasing power of $1 in 2019, you need $1.24 today. That is not a 2-3% increase in inflation--

So you've interacted with AJ at some point.

(you may not get that, but trust me, it's funny.)

 

[MajorRewrite]

You're funny, @Lazaran. I took several Econ courses. Yes, of course, I understand how hte economy works. That's why I gave beginning and end numbers.

I knew this was going to happen. You ask for evidence. I show it. You than claim it's invalid because it doesn't support your narrative.

You gave no evidence about the economy in 2024.

 

[MajorRewrite]

Also, nobody in this thread seems to understand inflation. There has never been a deflationary period since the post-COVID inflation crisis began.

Nobody claimed there has been a deflationary period since the pandemic. Deflationary periods coincide with recessions, and nobody wants that.

Meaning inflation has never actually gone down. It has just been continuing to go up but less quickly than it did when it started.

Yes. Duh. That’s why we have reported the annual inflation rate, which was 2.6% in 2024.

A lot of you are confusing month-to-month inflation rates with the overall state of inflation.

Nope. 2.6% was the inflation rate for the 12 months ending December 2024.

 

[Setanta84]

Nobody claimed there has been a deflationary period since the pandemic. Deflationary periods coincide with recessions, and nobody wants that.



Yes. Duh. That’s why we have reported the annual inflation rate, which was 2.6% in 2024.



Nope. 2.6% was the inflation rate for the 12 months ending December 2024.

You're a fucking retard. As I pointed out in a subsequent post, post-2019 inflation is 24% and climbing. It won't go down unless there is a wealth tax since what is driving inflation is assets ending up in fewer and fewer hands since the two greatest upward transfers of wealth to the the extremely rich in all of human history, which happened in 2008 and 2020.

 

[MajorRewrite]

They also seem to be mathematically illiterate. To have the same purchasing power of $1 in 2019, you need $1.24 today. That is not a 2-3% increase in inflation--

Speaking of mathematically illiterate … you don’t seem to understand the impact of compounding.

The inflation rate for the 12 months ending December 2021: 5.2%
The inflation rate for the 12 months ending December 2022: 4.9%
The inflation rate for the 12 months ending December 2023: 3.0%

None of these things have anything to do with the inflation rate in 2024, which was 2.6%, but inflation obviously does compound over time (each year builds on the last).

You can see the impact in this graph, which also shows that extended deflationary periods haven’t happened at any point since the 1960s.

 

[Setanta84]

Speaking of mathematically illiterate … you don’t seem to understand the impact of compounding.

The inflation rate for the 12 months ending December 2021: 5.2%
The inflation rate for the 12 months ending December 2022: 4.9%
The inflation rate for the 12 months ending December 2023: 3.0%

None of these things have anything to do with the inflation rate in 2024, which was 2.6%, but inflation obviously does compound over time (each year builds on the last).

You can see the impact in this graph, which also shows that extended deflationary periods haven’t happened at any point since the 1960s.

A little knowledge is a dangerous thing. You learn some big boy words and think you understand them. Inflation is not low, you fucking mong. The entire Western economy is collapsing. Governments are falling over it. Trump is either as dumb as you are or an accelerationist betting on people like you to provide cover.

 

[MajorRewrite]

A little knowledge is a dangerous thing. You learn some big boy words and think you understand them. Inflation is not low, you fucking mong. The entire Western economy is collalsing. Governments are falling over it. Trump is either as dumb as you are or an acceleration betting in people like you to provide cover.

Totally Fact Free Setanta. 100% bluster and 0% facts. The eNtiRe WesTeRn eConOmY isn’t coLLapSiNg.

I don’t “provide cover” for Trump. I’m a liberal. His policies (which I don’t support) have increased inflation, but not very much yet.

Inflation in 2024 (prior to Trump taking office obviously) was 2.6%. It was 2.9% for the 12 months ending in August of this year.

Don’t bother posting in this thread again unless you have real economic data to share.

 

[Setanta84]

Totally Fact Free Setanta. 100% bluster and 0% facts. The eNtiRe WesTeRn eConOmY isn’t coLLapSiNg.

I don’t “provide cover” for Trump. I’m a liberal. His policies (which I don’t support) have increased inflation, but not very much yet.

Inflation in 2024 (prior to Trump taking office obviously) was 2.6%. It was 2.9% for the 12 months ending in August of this year.

Don’t bother posting in this thread again unless you have real economic data to share.

If you don't understand that the purchasing power of the dollar has gone down over 20% since 2019, you shouldn't be lecturing anyone about economics, you fucking moron.

And if you don't understand the cratering of living standards in Europe is driven by inflation and this is why their governments are failing and ours is about to fail, you shouldn't be lecturing anyone about geopolitics.

I bet that if you went to university that it was barely accredited. I went to a top-tier school in both undergrad and grad. It is painful reading your posts. The enlightened idiocy is honestly enraging

 

[MajorRewrite]

If you don't understand that the purchasing power of the dollar has gone down over 20% since 2019, you shouldn't be lecturing anyone about economics, you fucking moron.

The decline of the purchasing power of the dollar since 2020 tells us absolutely nothing about the inflation rate in 2024 or in any other particular year. I listed the annual inflation rates above.

Prices have increased 329% since 1984, but that says nothing about the inflation rate in any individual year.

The inflation rate in 2024 was 2.6%.

And the governments of Europe aren’t fAiLiNg.