oski003 said:

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Eastern Oregon Bear said:

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Unit2Sucks said:

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bearister said:

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Biden pumps billions in federal funding into Republican and swing states


https://www.axios.com/2024/04/05/biden-half-trillion-dollar-jobs-campaign

President Biden's infrastructure and clean-energy bills are pumping some $250 billion into Republican and swing states, allowing Biden and his cabinet to regularly announce job-creating goodies in places that could help him win re-election.
… "I hate to acknowledge this, as a former governor of Michigan, but we know that all these battery investments are going to red states," Energy Secretary Jennifer Granholm told Axios last week.
And as much as some Republicans have criticized Biden's economic programs, "those governors aren't going to want to see the investment the Inflation Reduction Act reversed," Granholm said."

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Numerous GOP Congress people who voted against the acts (and other bills) have hypocritically taken credit for bringing spending to their districts. Biden deserves a lot of credit for his landmark legislations which have brought meaningful benefits for all Americans, not just the ones who voted for him.

The March jobs report was another stellar one. 50% more new jobs than expected and unemployment lowered to 3.8% (many worried it would tick above 4%).

The economy is strong and Biden's administration deserves credit for bringing stability back to our country after the chaos of the prior administration. Voters see what is happening which is why Trump and his team are freaking out about the election and trying to generate or invent a black swan event. It's their only hope to bring his brand of malign chaos back to our country.

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So, the question now is whether swing state voters will believe the economic numbers or their lying eyes.

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They will probably vote based on their personal situation. If they personally had better economic opportunities and circumstances prior to Biden, they will believe the Democrats are liars.

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Big C said:

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dajo9 said:

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President Jobs Biden is the best President of our lifetime.

There is a great chart in this clip of swing state voters overwhelmingly saying their state economies are good but the national economy is bad. The anti-Biden propaganda from corporate news that caused this is immense.
https://www.threads.net/@allinwithchris/post/C5XD2zLqT6T/?xmt=AQGzIWMhMDA3cwiZ8vUBq_PUbxElbu5t3OBXVwER8ihEXw

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2nd to FDR, for me...

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DiabloWags said:

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Per the WSJ from Friday, Page #A2:

$100.30 of commonly purchased groceries in 2019 now costs $136.89

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Unit2Sucks said:

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DiabloWags said:

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Per the WSJ from Friday, Page #A2:

$100.30 of commonly purchased groceries in 2019 now costs $136.89

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I'm sure you could also find a basket of commonly purchased groceries which have much lower inflation. It's just cherrypicking because the media is desperate to attack the strength of the economy.

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Unit2Sucks said:

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DiabloWags said:

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Unit2Sucks said:

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DiabloWags said:

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Per the WSJ from Friday, Page #A2:

$100.30 of commonly purchased groceries in 2019 now costs $136.89

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I'm sure you could also find a basket of commonly purchased groceries which have much lower inflation. It's just cherrypicking because the media is desperate to attack the strength of the economy.

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Doesn't sound like you do your own grocery shopping.
Anyone that does would adamantly disagree with your claim.

Read the article that sourced the data from NielsonIQ and get back to me.

Either that, or head down to your local Safeway and let me know how much you pay for a half-gallon of Lucerne milk, a carton of eggs, a tomato, a honey crisp apple, an artichoke, a bag of Lays chips, a loaf of Orowheat bread, a pound of ground round, 8 oz of Genoa salami, a jar of Best Foods Mayo, a can of Friskies cat food, a 16 lb. bag of Purina Cat Food, a package of Bounty or Brawny paper towels, and a 20 lb. box of Arm & Hammer kitty litter.

Free link:

https://www.wsj.com/business/retail/inflation-food-price-of-groceries-2024-5010700b?st=4osds99ed5w8oxw&reflink=desktopwebshare_permalink

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Are you suggesting we replace the CPI or PCE with this basket of goods? Nothing in your argument counters my point that this is an exercise in cherry-picking. I'm not saying that this specific basket has outstripped inflation, but I am suggesting that it's misleading data. Even during times of low inflation you can cherry pick. What's the point?

For what it's worth, I do buy groceries and while a lot of things we buy are more expensive, many have remained stable. CPI and PCE take this into account. Murdoch's WSJ wrote an article about a different basket of goods. How is this newsworthy? And, by the way, multiple people posted this same article, so obviously it has been successful click-bait.

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dajo9 said:

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Since 2019 inflation is up 18.0% and hourly wages are up 19.6%. The rest is clickbait.
https://www.epi.org/nominal-wage-tracker/
https://www.minneapolisfed.org/about-us/monetary-policy/inflation-calculator/consumer-price-index-1913-

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Unit2sucks said:

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For what it's worth, I do buy groceries and while a lot of things we buy are more expensive, many have remained stable. CPI and PCE take this into account. Murdoch's WSJ wrote an article about a different basket of goods. How is this newsworthy? And, by the way, multiple people posted this same article, so obviously it has been successful click-bait.

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👍 pic.twitter.com/cRgawFaajy

— Ken Klippenstein (@kenklippenstein) April 8, 2024

dajo9 said:

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Manufacturing boom, record duration of low unemployment, and growing real wages but some people only fixate on negative. This is the best economy since the 1990s.

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dajo9 said:

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Manufacturing boom, record duration of low unemployment, and growing real wages but some people only fixate on negative. This is the best economy since the 1990s.

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dajo9 said:

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Soft data polling is politicized. If Trump became President tomorrow his supporters would cause consumer confidence to surge. It has lost its meaningfulness.

This economy is working for people who work. Jobs are booming, real wages are up, manufacturing is returning to America. Data shows the lower tiers are having the best real wage gains.

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dajo9 said:

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DiabloWags said:

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dajo9 said:

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Manufacturing boom, record duration of low unemployment, and growing real wages but some people only fixate on negative. This is the best economy since the 1990s.

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Perhaps for the socio-economic sectors that are owners of assets like real estate (having locked in low mortgage rates) and stocks that have increased in value since last November. But there are OTHER VOTERS out their that are renters, commuters, and dont own any stocks.

You cant just keep BLAMING the lethargic Consumer Confidence rate on the Media.

One starts to sound like a Trumper repeatedly yapping about "Fake News" when that position is taken.

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Soft data polling is politicized. If Trump became President tomorrow his supporters would cause consumer confidence to surge. It has lost its meaningfulness.

This economy is working for people who work. Jobs are booming, real wages are up, manufacturing is returning to America. Data shows the lower tiers are having the best real wage gains.

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Quote:

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Indeed, average 12-month inflation expectations came in at 5.3 percentbarely changed from February's four-year low of 5.2 percent. Recession fears continued to trend downward both in write-in responses and as measured by consumers' Perceived Likelihood of a US Recession over the Next 12 Months. Meanwhile, consumers expressed more concern about the US political environment compared to prior months."

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Quote:

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Present Situation
Consumers' assessment of current business conditions fell slightly in March.

• 19.5% of consumers said business conditions were "good," down from 20.4% in February.
• 17.2% said business conditions were "bad," down from 17.7%.

Consumers' appraisal of the labor market was more positive in March.

• 43.1% of consumers said jobs were "plentiful," up from 42.8% in February.
• 10.9% of consumers said jobs were "hard to get," down from 12.7%.

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Quote:

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The findings indicate a significant boost to consumer morale when their affiliated party won elections, particularly following presidential elections where there was a change in the presidential party, such as those in 1992, 2000, 2008, and 2016. As anticipated, consumer sentiments showed an inverse pattern between Democrats and Republicans. When a Democrat won the presidency, Democrats' positive sentiments rose while Republicans' positive sentiments declined, and vice versa when a Republican won.

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Quote:

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By the end of September, the CNN watchers were less likely to agree that: "It is an overreaction to go out and protest in response to the police shooting of Jacob Blake in Kenosha, Wisconsin" and less likely to believe that: "If Joe Biden is elected President, we'll see many police get shot by Black Lives Matter activists", when compared with their peers who continued watching Fox News.

The CNN switchers were also, as Bloomberg's Matthew Yglesias reported, 10 points less likely to believe that Joe Biden supporters were happy when police officers get shot, and 11 points less likely to believe that it is "more important for the President to focus on violent protests than the coronavirus pandemic".

In addition the CNN viewers were 13 points less likely than the Fox News viewers to agree that: "If Joe Biden is elected President, we'll see many more police get shot by Black Lives Matter activists."

In an email interview, Kalla said he and Broockman had not necessarily expected people's opinions to change.

"I think the most surprising finding is that shifting people's media diets from Fox News to CNN for a month had any effect," Kalla said.

The people in the experiment, Kalla said, were "overwhelmingly pro-Trump Republicans". Given Trump had spent much of his presidency bashing CNN a regular chant at his rallies was "CNN sucks!" the results are particularly surprising.

"A lot of people might expect this audience to completely resist what CNN had to say, but we see people learning what CNN was reporting and changing their attitudes, too. It is therefore surprising that watching CNN had any impact at all in this experiment," Kalla said.

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DiabloWags said:

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Inflation expectations are rising.
And these numbers were well BEFORE the March CPI data.

https://www.newyorkfed.org/newsevents/news/research/2024/20240311#:~:text=Median%20inflation%20expectations%20remained%20unchanged,the%20five%2Dyear%20ahead%20horizon.

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Quote:

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Median inflation expectations remained unchanged at 3.0% at the one-year horizon, increased to 2.7% from 2.4% at the three-year ahead horizon, and increased to 2.9% from 2.5% at the five-year ahead horizon. The increases in both the three-year ahead and five-year ahead measures were most pronounced for respondents with at most high school degrees.

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