So?
When ya hear all the ‘experts’ talking about the “great’ Economy?
Just shake your head and walk away…
Their words do NOT matter….
The price of gas and other consumer goods DO….
Consumer prices surged 6.8 percent in the year leadinginto November and 0.8 percent last month alone as a roaring economy overwhelmed struggling supply chains and fueled inflation, according to data released Friday by the Labor Department.
The consumer price index (CPI), a closely watched gauge of inflation, rose sharply in November as retailers, warehouses, suppliers and shipping companies scrambled to meet intense demand.
Economists expected the CPI to rise 0.7 percent in November and 6.7 percent annually after year-over-year inflation rose to 6.2 percent in October, the highest rate in 30 years.
November’s annual inflation rate of 6.8 percent is the highest since 1982.
While November’s inflation surge had been widely projected, the steady upward pressure on prices is a significant strain for cash-strapped households and a political threat to President Biden and Democratic lawmakers.
Biden and his party have sought to emphasize the many strong points of the recovery from the COVID-19 recessions, which was powered in part by a $1.9 trillion stimulus bill the president signed in March. The unemployment rate sank to 4.2 percent as the labor market expanded in November, consumer spending has risen above pre-pandemic levels, wage growth has accelerated and the stock market has rallied to new record highs….
Offices remain eerily empty. Airlines have canceled thousands of flights. Subways and buses are running less often. Schools sometimes call off entire days of class. Consumers waste time waiting in store lines. Annual inflation has reached its highest level in three decades.
Does this sound like a healthy economy to you?
In recent weeks, economists and pundits have been asking why Americans feel grouchy about the economy when many indicators — like G.D.P. growth, stock prices and the unemployment rate — look strong.
But I think the answer to this supposed paradox is that it’s not really a paradox: Americans think the economy is in rough shape because the economy is in rough shape.
Sure, some major statistics look good, and they reflect true economic strengths, including the state of families’ finances. But the economy is more than a household balance sheet; it is the combined experience of working, shopping and interacting in society. Americans evidently understand the distinction: In an Associated Press poll, 64 percent describe their personal finances as good — and only 35 percent describe the national economy as good….
I previously opined that if this inflation continues, the Democrats will take a bath next year.Some of my fellow posters criticized that ,insisting that the overall economy was doing better and the inflation wouldn’t matter as much.
I still haven’t changed my mind.If this inflation continues the Democrats are going to lose and it won’t be close.
As to the Biden spending bill?
I’m not convinced it’s even going to pass ,much less before Christmas.
Inflation + homicide + other crime
I have been on the same for the Economy/Biden/Democrats connection…
My view is that like Obamacare….
Biden , like Obama has done a poor job of selling his programs…
I have also pointed out here that the media like scaring people…
For four years it was Trump, then the virus….
Now the economy, with a Omicron interlude…
I have also said here that I see Joe Biden as ‘good guy’….
And more important?
A born legislator….
He won his day job because Donald Trump was the bogey man…
He is NO longer…
The virus and the economy/inflation is….
I agree with u Jack…
It is going to be VERY difficult for the leader of the Democratic Party to change the media selling ‘its’ perception of things….
The spending bill will pass….
The GOPer’s will claim credit for each dollar sent to their state or district …
And?
The Democratic party will be carrying the ‘Squad’s’ spoken dreams in their laps in a time when people are worried about spending…
Quietly?
The GOPer’s have to be smiling to themselves as the Democrats do the standard fucking THEMSELVES routine….
The problem for the country will be Republican Congressional power and Donald Trump trying to steal even THAT…..
From the sidelines….
First, I don’t remember anyone criticizing you Jack for your opinion regarding inflation. I have only said, and I will repeat it, that inflation will be under control by Spring, and the economy will be booming (with or without Biden’s much needed bill). In fact, I think you will see that inflation is already receding, and the supply chain is much improved.
Second, I know President’s get blamed for all sorts of things that they have no control over, but this stuff is much ado at this point. If it continues then of course it will be a problem. I don’t believe it will. But, if they get the blame, then they should get the credit. Right?
So, Uncle Joe gets the credit for seven million new jobs, and stock market near 36,000, a GDP approaching 7% growth, the highest salaries in history, and the lowest unemployment.