Bidenflation in Pictures (Page 2/8)
Doug85GT JAN 22, 09:56 PM
We are to believe that Biden is just a helpless passenger with no influence in where the economy goes. Such a lack of leadership is an indictment in itself.
rinselberg JAN 22, 11:13 PM
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This data plot is a "visual" of how real wages have gone up continuously under President Biden, from the 2nd quarter of 2022 all the way to where we are today—just beyond the 4th quarter of 2023. That means wage growth that is more than just keeping up with the rate of monetary inflation. On average, every U.S. wage earner's "wallet" has been stretching to contain the additional amounts of real money that have been accruing to its owner.

FRED is acronymic for Federal Reserve Economic Data.

What we see here from Doug85GT with his negativity about the economy under President Biden is known as the "Vibecession," in which people express negative emotions about the economy that are out of step with the positive and positive-trending objective data about the economy. The well known 2008 Nobel laureate in economics, Paul Krugman, has just published a column about this in the New York Times.

[This message has been edited by rinselberg (edited 01-22-2024).]

Doug85GT JAN 23, 12:40 AM
That is a rather interesting metric. Who knew we were supposed to only start paying attention to the results of the president's policy after they have been in office for a year and a half. That whole first 100 days of a presidency thing must not count for anything. Or is Biden special and he gets a mulligan for 18 month?

If it were any other president we would be looking at starting the graph at the first quarter he is in office. Biden promised he would roll back everything and anything Trump on day 1. He did just that. So let's look at the whole picture of Biden's presidency.



Will you look at that. Wages are actually below where they were on day 1 that Biden took office. I wonder why anyone would want to hide that...

I'll even be so kind as to leave a link where anyone can look at the data themselves rather than relying on bizarrely cherry picked data.

https://fred.stlouisfed.org/series/LES1252881600Q
rinselberg JAN 23, 01:15 AM
The global economic slowdown brought on by the Covid-19 pandemic, depressing wages.

That intersects both the last year of Trump and the first year of Biden.

Krugman points this out in his newly published column in the New York Times, "Is the Vibecession Finally Coming to an End?"
theBDub JAN 23, 07:35 AM
I saw this image in a newsletter this morning. Seems to describe the above sentiments perfectly.

The number one reason why republicans have a negative opinion of the economy is because Biden is President.

[This message has been edited by theBDub (edited 01-23-2024).]

82-T/A [At Work] JAN 23, 08:25 AM

quote
Originally posted by theBDub:I saw this image in a newsletter this morning. Seems to describe the above sentiments perfectly.

The number one reason why republicans have a negative opinion of the economy is because Biden is President.




It's because three years ago, I was making almost $300k a year, and I was rolling in cash, and today... everything has gone up in price SUBSTANTIALLY and now I'm average middle class again. I can't even begin to friggin' imagine how someone making half of what I make would even be able to survive. Seriously... I can't even begin to imagine. I've never lived through an inflationary period as an adult... and this is horrible. All the hard work to achieve what I have, immediately set back by a dramatic increase in prices.

Anyway, you can see Democrats all excited by Biden, but then they realize inflation sucks... and their opinion dropped too. Everyone is realizing what "Bidenomics" is...

[This message has been edited by 82-T/A [At Work] (edited 01-23-2024).]

cliffw JAN 23, 08:56 AM

quote
Originally posted by theBDub:
Bidenomics must be why the U.S. fared so much better than other comparable nations.



The US has always fared better than other comparable nations before Bidenomics.
cliffw JAN 23, 09:14 AM

quote
Originally posted by rinselberg:
On average, every U.S. wage earner's "wallet" has been stretching to contain the additional amounts of real money that have been accruing to its owner.



That is bad news. Wages went up less than inflation did. Meaning less money value for the wage increase.
Causing a large drop in living standards.

It is said by printing money the Weimar Republic's currency had to be pushed in a wheel barrel to buy a loaf of bread.
theBDub JAN 23, 09:24 AM

quote
Originally posted by 82-T/A [At Work]:
It's because three years ago, I was making almost $300k a year, and I was rolling in cash, and today... everything has gone up in price SUBSTANTIALLY and now I'm average middle class again. I can't even begin to friggin' imagine how someone making half of what I make would even be able to survive. Seriously... I can't even begin to imagine. I've never lived through an inflationary period as an adult... and this is horrible. All the hard work to achieve what I have, immediately set back by a dramatic increase in prices.

Anyway, you can see Democrats all excited by Biden, but then they realize inflation sucks... and their opinion dropped too. Everyone is realizing what "Bidenomics" is...




So you’re saying the massive drop of Republican opinion that happened virtually on Inauguration Day is because inflation was high… after that?
olejoedad JAN 23, 09:34 AM

quote
Originally posted by theBDub:

You’re really bending over backwards to facilitate this outrage.