70% Say Joe Biden and Kamala Harris’s Economy Is Getting Worse

probinson · Aug 6, 2024

BCP1928 said:
That particular line of argument has become a cliche. Can't you do better?

Not sure why you think lots of people losing lots of money out of their retirement accounts is a cliche, but OK.

It's true that things are OK right up until the moment they're not. This should give pause to people running around saying things are great. But I don't expect it will.

Thankfully, I'm still young enough that I'll likely bounce back. But others closer to retirement may not be so fortunate.

trophy33 · Aug 6, 2024

BCP1928 said:
That's the right-wing strategy, but there are other solutions.

Its rather a free market strategy. Other solutions would be some kind of stealing or of violence.

BCP1928 · Aug 6, 2024

probinson said:
Not sure why you think lots of people losing lots of money out of their retirement accounts is a cliche, but OK.

It's true that things are OK right up until the moment they're not. This should give pause to people running around saying things are great. But I don't expect it will.

Thankfully, I'm still young enough that I'll likely bounce back. But others closer to retirement may not be so fortunate.

No, the cliche is the cause for it you suggest.

trophy33 said:
Its rather a free market strategy. Other solutions would be some kind of stealing or of violence.

It's not a free market strategy, that's the whole point. Republicans want nothing to do with free markets.

trophy33 · Aug 6, 2024

BCP1928 said:
It's not a free market strategy, that's the whole point. Republicans want nothing to do with free markets.

We were not talking about republicans, but about prices coming down because people will stop paying them. You claimed there are other solutions and I claimed these other solutions would be some form of stealing or violence.

Prices coming down because customers will no longer pay them is the most natural market mechanism. Its apolitical.

BPPLEE · Aug 6, 2024

BCP1928 said:
That's the right-wing strategy, but there are other solutions.

I don't think it's a strategy but the only way to bring prices down is to decrease the demand or increase the competition

Pommer · Aug 7, 2024

trophy33 said:
We were not talking about republicans, but about prices coming down because people will stop paying them. You claimed there are other solutions and I claimed these other solutions would be some form of stealing or violence.

Prices coming down because customers will no longer pay them is the most natural market mechanism. Its apolitical.

The only thing worse than inflation, though, is deflation.

The entire capitalist model relies on continual growth, this is the goal of the whole of the financial sector, if “prices come down” how’re we going to pay our dividends ?

Capitalists seem to forget that the money always goes in at the bottom of the economy and grows continuously until it winds up in another billionaire’s pocket, but shouldn’t be allowed to stay there “too long”…if the workers can’t afford your products, whose going to buy your widgets?

Gregory Thompson · Aug 7, 2024

Vambram said:
Nolte: 70% Say Kamala Harris’s Economy Is Getting Worse

Seventy percent of adults say the economy under President Joe Biden and Vice President Kamala Harris is getting worse, according to polling.

www.breitbart.com

Seventy percent of adults say the economy under President Joe Biden and Vice President Kamala Harris is getting worse, according to polling from Gallup. Between July 1 and 21, 2024, Gallup surveyed 1,010 adults and found that only 24 percent believe the economy is getting better. At the beginning of 2024, in February, only 61 percent said the economy was getting worse, while 32 percent said the economy was getting better. Since then, those numbers have all slid in the wrong direction. “Economic Confidence Index registers -35 in July,” reports Gallup, which is “stable compared with the past two months and consistent with the longer trend of negative public sentiment about the current and future American economy."

Get used to the economy getting worse, politics has nothing to do with it. All the rich countries broke the bank giving out free vaccines so the current hyper inflation makes sense.

trophy33 · Aug 7, 2024

Pommer said:
The only thing worse than inflation, though, is deflation.

The entire capitalist model relies on continual growth, this is the goal of the whole of the financial sector, if “prices come down” how’re we going to pay our dividends ?

Capitalists seem to forget that the money always goes in at the bottom of the economy and grows continuously until it winds up in another billionaire’s pocket, but shouldn’t be allowed to stay there “too long”…if the workers can’t afford your products, whose going to buy your widgets?

The "capitalist model" does not rely on continual growth, even though its the desired outcome. However, the growth is meant to be in productivity, not in nominal prices without productivity (i.e. inflation).

"Deflation is worse than inflation" is a repeated mantra of central planners and of certain economists who are given a lot of space in media. I guess its mainly because the central planners like central banks have no tools how to control it and so they fear it for that reason.

However, it always depends on the economic context and causes. If inflation is caused by too much "money printing" or too high margins of sellers, deflation can be good, not automatically worse. It always depends on the context - for a consumer, for an investor (and in what assets) etc.

FireDragon76 · Aug 7, 2024

Vambram said:
Tell that to everyone who can barely, just barely by metaphorically hanging on by their fingernails, to pay their bills and falling more and more in credit card debt as they do so. By the way, voters are not going to vote about the economy based upon "metrics." They are going to do so based upon their own individual and family economics as to how that compares to 4 and 5 years ago.

Individual household budgets don't equal "the economy" in general.

BCP1928 · Aug 7, 2024

trophy33 said:
We were not talking about republicans, but about prices coming down because people will stop paying them. You claimed there are other solutions and I claimed these other solutions would be some form of stealing or violence.

Without having the least idea of what they were.

trophy33 said:
Prices coming down because customers will no longer pay them is the most natural market mechanism. Its apolitical.

Not in our present economy. Opposing market domination by large corporations is a hot button political issue for some, Republicans call that kind of thing "Marxism."

QvQ · Aug 29, 2024

FireDragon76 said:
Individual household budgets don't equal "the economy" in general.

Depends on the definition of "individual."
Multiply "individual" by 127 million and it does equal the "economy" in general.
Exactly what is "the economy" if not the individual (plural)?

jayem · Aug 29, 2024

Personally, I have no economic complaints. I'm retired, but my investments have done quite well. Here's a link to the S&P 500 over the last 4+ years. The S&P is a broader index than the DJI. And it's very nearly doubled during Joe Biden's term in office.

S&P 500

FireDragon76 · Aug 30, 2024

QvQ said:
Depends on the definition of "individual."
Multiply "individual" by 127 million and it does equal the "economy" in general.
Exactly what is "the economy" if not the individual (plural)?

The economy is not merely the sum of household incomes. There are corporations engaged in economic activity, for instance.

jayem · Aug 30, 2024

S&P gained another 56 points today to close at 5,648.40. My portfolio is up another 2-3%.

FireDragon76 · Aug 31, 2024

QvQ said:
Depends on the definition of "individual."
Multiply "individual" by 127 million and it does equal the "economy" in general.
Exactly what is "the economy" if not the individual (plural)?

Economies are the production, distribution, and trade of goods and services. It's not simply household budgets.

70% Say Joe Biden and Kamala Harris’s Economy Is Getting Worse

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