Greedflation

[BabyBoomer50s]

Polling reflects how people feel about the economy not what is actually happening with the economy.

Of course. We all view “the” economy through the lens of our own pocket books. In the presidential campaign of 1980, then-candidate Reagan effectively expressed that fact in a way that resonated with voters. I recall one speech where he said something like “A recession happens when your neighbor loses his job. A depression happens when you’re out of a job. And a recovery happens when Jimmy Carter is out of a job.” His famous close to the final debate was most powerful: “Are you better off than you were four years ago?” Voters answered that one at the ballot box.

 

[Fuzzy1975]

Of course. We all view “the” economy through the lens of our own pocket books. In the presidential campaign of 1980, then-candidate Reagan effectively expressed that fact in a way that resonated with voters. I recall one speech where he said something like “A recession happens when your neighbor loses his job. A depression happens when you’re out of a job. And a recovery happens when Jimmy Carter is out of a job.” His famous close to the final debate was most powerful: “Are you better off than you were four years ago?” Voters answered that one at the ballot box.

So you agree people can misunderstand if the economy is doing fine and if it is not.

What Reagan said, had no bearing on the economy at the time.

As to him being elected on the economy, it was more to do with Iran refusing to release the hostages. That was the debacle that sank Carter. If they had been released prior to the election, things may have been different.

 

[TrailerHitch]

Erm...you do realize everything you say here is due to the party you support, don't you?

Which party is that? Since I have said repeatedly over the course of my life I have voted democrat, republican and yes, even independent, for president. So do tell what single party I support, versus the candidates I support. I have never voted only party lines but nice try...

 

[BabyBoomer50s]

So you agree people can misunderstand if the economy is doing fine and if it is not.

What Reagan said, had no bearing on the economy at the time.

As to him being elected on the economy, it was more to do with Iran refusing to release the hostages. That was the debacle that sank Carter. If they had been released prior to the election, things may have been different.

The American hostages in Iran were on TV every night. Ted Koppel tracked the days on Nightline so it was definitely an issue, but few of us were personally impacted by it. Unemployment and inflation top of mind for millions, including me. I remember the election well, as I was coming out college and entering the job market. Iran might have been the knockout punch that put Jimmy on the canvas, but rising prices and a dismal jobs market delivered the relentless body blows.

 

[Lazaran]

So you agree people can misunderstand if the economy is doing fine and if it is not.

What Reagan said, had no bearing on the economy at the time.

As to him being elected on the economy, it was more to do with Iran refusing to release the hostages. That was the debacle that sank Carter. If they had been released prior to the election, things may have been different.

Not to mention, BabyBoobs is running away from the OP and post # 7.



BabyBoobs doesn’t like to acknowledge the fact that corporations can engage in price gouging, etc, while simultaneously damaging an incumbent President Biden who isn’t as pliable and accommodating as the corrupt orange traitor or some other "republican".

See again: The corrupt orange traitor’s tax cuts for the rich and corporations.



BabyBoobs

 

[Fuzzy1975]

The American hostages in Iran were on TV every night. Ted Koppel tracked the days on Nightline so it was definitely an issue, but few of us were personally impacted by it. Unemployment and inflation top of mind for millions, including me.

I was in the US during that time period, it was the Iranian Revolution that lead to the economic crisis, which Carter ended up taking the blame for. A situation completely out of his control. Which proves exactly what I stated in my first reply, most people have no clue about the economy. That seems to include you as well.

I remember the election well, as I was coming out college and entering the job market. Iran might have been the knockout punch that put Jimmy on the canvas, but rising prices and a dismal jobs market delivered the relentless body blows.

All were caused by the Iranian Revolution....and that was the knock out blow, if Reagan had been the President instead of Carter and Carter ran against him, Carter would have won. it had nothing to do with what Reagan said at a debate months after.

 

[BabyBoomer50s]

Not to mention, BabyBoobs is running away from the OP and post # 7.



BabyBoobs doesn’t like to acknowledge the fact that corporations can engage in price gouging, etc, while simultaneously damaging an incumbent President Biden who isn’t as pliable and accommodating as the corrupt orange traitor or some other "republican".

See again: The corrupt orange traitor’s tax cuts for the rich and corporations.



BabyBoobs

Try to follow along. At an aggregate level, corporations can reap short term profitability gains from economic conditions. They cannot be sustained because market forces coupled with stable monetary policies bring supply and demand into equilibrium. That’s why we see fluctuations in earnings reports and corresponding fluctuations in equity markets from quarter to quarter.

If businesses had the market power to continuously hike prices they would do so. Equity markets would never fall! As everyone with a brokerage account or 401K knows, it doesn’t work that way.

 

[Lazaran]

BabyBoobs CONTINUES running away from the OP and post # 7.



BabyBoobs

 

[BabyBoomer50s]

I was in the US during that time period, it was the Iranian Revolution that lead to the economic crisis, which Carter ended up taking the blame for. A situation completely out of his control. Which proves exactly what I stated in my first reply, most people have no clue about the economy. That seems to include you as well.

All were caused by the Iranian Revolution....and that was the knock out blow, if Reagan had been the President instead of Carter and Carter ran against him, Carter would have won. it had nothing to do with what Reagan said at a debate months after.

Thanks for confirming the point I made. Incumbent presidents take the heat when voters feel the economy isn’t working for them and they take credit when voters feel good about their economic circumstances.

Voters don’t pay close attention to national statistics. They pay attention to their grocery bills, utilities bills, rent and mortgage payments, retirement account balances, and monthly income.

 

[Fuzzy1975]

Thanks for confirming the point I made. Incumbent presidents take the heat when voters feel the economy isn’t working for them and they take credit when voters feel good about their economic circumstances.

Show me where I said they take credit.

Voters don’t pay close attention to national statistics. They pay attention to their grocery bills, utilities bills, rent and mortgage payments, retirement account balances, and monthly income.

Maybe you blame that on government, instead of looking for the real reasons why. That kind of proves my point, people don't understand the economy and often vote against their best interest.

 

[BabyBoomer50s]

And you will know them (RWCJ "members" / MAGAts, etc) by the threads they avoid…



The real crime here, is the undeniable fact that the robber barons are not only gouging and profiting obscenely, but that they are ALSO manipulating the electorate into believing the current EXCESSIVE "inflation" is President Biden’s (and the Democrat’s) fault, and thus, helping elect "republican" scum like the corrupt orange traitor who will continue to give the robber barons everything they want. See: The corrupt orange traitor’s tax cuts for the rich and corporations

And the MAGAts, who claim to be anti- "elite", will cheer the robber barons on as they bleed them dry and install government officials that will continue to transfer wealth to the top 1%.

JFC

SAD!!!

Since you’ve begged me twice to respond to this, please clarify who these “robber barons” who are conning people into believing their grocery bills are much higher than they were a couple of years ago. Why didn’t the robber barons conspire to raise prices across the board on just about everything before Biden got elected?

 

[Chobham]

Since you’ve begged me twice to respond to this, please clarify who these “robber barons” who are conning people into believing their grocery bills are much higher than they were a couple of years ago. Why didn’t the robber barons conspire to raise prices across the board on just about everything before Biden got elected?

I can't wait to read the response to that question.

 

[BabyBoomer50s]

Show me where I said they take credit.

Maybe you blame that on government, instead of looking for the real reasons why. That kind of proves my point, people don't understand the economy and often vote against their best interest.

You confirmed that incumbents get blamed when voters are unhappy with their financial situation. I’ve explained the relationship between money supply and velocity and inflation, and the relationship between inflation and short term corporate earnings.

 

[YDB95]

Which party is that? Since I have said repeatedly over the course of my life I have voted democrat, republican and yes, even independent, for president. So do tell what single party I support, versus the candidates I support. I have never voted only party lines but nice try...

It's not about whom you've supported in the past, it's about your current outlook. If you think you don't come across as a Republican shill here, the only one you're fooling is yourself.

 

[Fuzzy1975]

You confirmed that incumbents get blamed when voters are unhappy with their financial situation.

Yes I did, the public often fails to understand the economy, and lays blame where it may not be warranted, but I never stated Presidents take credit when the economy is good, now did I?

I’ve explained the relationship between money supply and velocity and inflation, and the relationship between inflation and short term corporate earnings.

LOL one or two sentences isn't an explanation, you also sort of tried to make the point that was the only cause of inflation, which is why I pointed out there are other reasons.

 

[Lazaran]

Since you’ve begged me twice to respond to this, please clarify who these “robber barons” who are conning people into believing their grocery bills are much higher than they were a couple of years ago. Why didn’t the robber barons conspire to raise prices across the board on just about everything before Biden got elected?

^
(Quoted for posterity and stupidity)

Taunted (NOT "begged") is the word BabyBoobs was looking for.



The rest is ALMOST too stupid and transparently sea lion-y to seriously respond to.



BabyBoobs apparently believes that the robber barons who wanted the corrupt orange traitor re-elected would raise prices leading up to the 2020 election to hurt then candidate Joe Biden? Seriously? When BabyBoobs has already acknowledged that the electorate blames the person in office for any economic pain they’re experiencing?

That ^ is literally the opposite of the point being made in post # 7, and proves that BabyBoobs is running away from reality and the facts.



BabyBoobs



Side question:

Is BabyBoobs senile??? The level of reading comprehension FAIL displayed in their post suggests they are.

JFC

SAD!!!

 

[BabyBoomer50s]

Yes I did, the public often fails to understand the economy, and lays blame where it may not be warranted, but I never stated Presidents take credit when the economy is good, now did I?

LOL one or two sentences isn't an explanation, you also sort of tried to make the point that was the only cause of inflation, which is why I pointed out there are other reasons.

Voters are unfair. They blame incumbents for their negative financial situation and incumbents boast when they take credit when voters are happy with their personal finances. You confirmed the first half of my statement and didn’t comment on the second part. You don’t think incumbents take credit for economic news they think voters are happy about?

 

[TrailerHitch]

It's not about whom you've supported in the past, it's about your current outlook. If you think you don't come across as a Republican shill here, the only one you're fooling is yourself.

Perhaps your perception as a joey biden drone is just a little jaded.

 

[YDB95]

Perhaps your perception as a joey biden drone is just a little jaded.

Since I didn't support Biden in the 2020 primaries (and I was quite frankly disappointed when Obama tapped him in '08), the very fact that you think I'm a "drone" for him tells us all we need to know about your perspective.

 

[TrailerHitch]

Since I didn't support Biden in the 2020 primaries (and I was quite frankly disappointed when Obama tapped him in '08), the very fact that you think I'm a "drone" for him tells us all we need to know about your perspective.

Don't point your accusations at me if you don't want the same thing to happen to you.

 

[Lazaran]

Since I didn't support Biden in the 2020 primaries (and I was quite frankly disappointed when Obama tapped him in '08), the very fact that you think I'm a "drone" for him tells us all we need to know about your perspective.

Yeah, I was a strong Elizabeth Warren lean in the 2020 primaries, but I never felt any shame, remorse, or regret after voting for President Biden in the 2020 general election,..and I still don’t

Conversely, anyone who voted for the corrupt orange traitor SHOULD feel shame, remorse, and regret to the nth degree…but they still don’t.

JFC

SAD!!!

 

[YDB95]

Don't point your accusations at me if you don't want the same thing to happen to you.

At least I can back my accusations up with more than just bucketloads of attitude.

Yeah, I was a strong Elizabeth Warren lean in the 2020 primaries, but I never felt any shame, remorse, or regret after voting for President Biden in the 2020 general election,..and I still don’t

Me too, on both accounts.

Conversely, anyone who voted for the corrupt orange traitor SHOULD feel shame, remorse, and regret to the nth degree…but they don’t.

Nope, they love the way he made it OK to hate the same people they do openly!

 

[Sean Renaud]

Of course. We all view “the” economy through the lens of our own pocket books. In the presidential campaign of 1980, then-candidate Reagan effectively expressed that fact in a way that resonated with voters. I recall one speech where he said something like “A recession happens when your neighbor loses his job. A depression happens when you’re out of a job. And a recovery happens when Jimmy Carter is out of a job.” His famous close to the final debate was most powerful: “Are you better off than you were four years ago?” Voters answered that one at the ballot box.

Actually that's the problem there are a few polls showing that if you ask any random American if they are better off now than they were a few years back they'll tell you yes. If you ask them if the economy is good they will say no.

Which to me shows an incredibly dangerous combination of people who are uninformed about the economy as a whole, probably because after decades of teaching them not to trust mainstream media they get a lot of their information from what we like to call new media but the smallest among them or at least the ones that have the least amount of oversight. I can hate Alex Jones and now that Tucker over on AMerica one I think I can hate him too. You can hate Cenk Ungyr and the rest of the Young Turks. They both however have large enough audiences that they can be called out. They are and this is largely true both sides but that's because the Left is slightly more trusting of the MSM. If Bill O'Riely fucks up up CNN, MSNBC and TYT will cover it. If Rachel Maddow fucks up Fox, Carlson, Jones and a large chunk of AM radio (does liberal AM radio even exist?) will be all over it.

Hell while a lot of us here post bad information because we don't vet the stuff well enough the real bottom line is between here, twitter and facebook I have enough people on both sides of the aisle that I may not directly speak but I see what they are saying and counterpoints and can even interject and ask questions often in real time but even if not I can usually tell when someone thinks I'm completely off track.

They ALSO think the the economy is doing shitty. I'd be happy Americans are almost caring for each other because this is "I'm doing well, but what about Dick and Jane?" Now part of this IS the 24 hour for profit news companies. Can you imagine if Tucker Carlson came out on whenever his next show is and said "Look, I goofed. The Biden Administration has been better for the economy than Trump?" Because the accuracy of his information was whatmade people want to watch him?

 

[MajorRewrite]

I thought of something to watch for as the US economy contracts and dying corporations and large organizations double down on greed and incompetence. They will need scapegoats, which they may dress up as criminals committing embezzlement. The current scheme of cancel culture has been fine for firing employees and cancelling benefits, but it won't be enough when billions of dollars vanish.

The economy is doing great.

 

[BabyBoomer50s]

Not a joke. Biden is outraged at inflation.

https://x.com/potus/status/1756713597864988940?s=46&t=D4wPadUSm31flBzHVSwUxA