Great Economy..

[Harpy Eagle]

It is better to have real wage growth.

I agree, but we are where we are.

I am a silver lining kind of guy. If we are stuck with inflation, and we are for a while, it is good that people are being paid more.

 

[bugs]

It is better to have real wage growth.
What is the current inflation adjusted growth in wages?

Borrowing is WAY UP..

Consumer Borrowing in U.S. Surges by a Record $41.8 Billion

(Bloomberg) -- U.S. consumer borrowing surged in February by the most on record, reflecting outsized increases in both credit-card balances and non-revolving loans. Most Read from BloombergCanada to Ban Foreigners From Buying Homes as Prices SoarMocked as ‘Rubble’ by Biden, Russia’s Ruble Roars...

ca.finance.yahoo.com

 

[Harpy Eagle]

Borrowing is WAY UP..

Consumer Borrowing in U.S. Surges by a Record $41.8 Billion

(Bloomberg) -- U.S. consumer borrowing surged in February by the most on record, reflecting outsized increases in both credit-card balances and non-revolving loans. Most Read from BloombergCanada to Ban Foreigners From Buying Homes as Prices SoarMocked as ‘Rubble’ by Biden, Russia’s Ruble Roars...

ca.finance.yahoo.com

That is very bad news. With the rising interest rates people are screwing themselves.

 

[bugs]

That is very bad news. With the rising interest rates people are screwing themselves.

Indeed.. Wages are UP.. Cost of Living is UP HIGHER STILL

 

[task0778]

Seems odd, if the economy is doing so great then why is Biden's job performance rating relative to the economy so bad? The last poll I saw says only 33% approve of his performance with the economy. And it's heading in the wrong direction.

Biden's job approval falls to lowest level of his presidency amid war and inflation fears

Seven in 10 Americans expressed low confidence in the president's ability to deal with Russia's invasion of Ukraine as his approval fell to 40 percent in the new NBC News poll.

www.nbcnews.com

 

[initforme]

$15 was NOT even close to a decent wage before inflation. I'm not working hard for that pittance.

 

[Harpy Eagle]

Seems odd, if the economy is doing so great then why is Biden's job performance rating relative to the economy so bad? The last poll I saw says only 33% approve of his performance with the economy. And it's heading in the wrong direction.

Biden's job approval falls to lowest level of his presidency amid war and inflation fears

Seven in 10 Americans expressed low confidence in the president's ability to deal with Russia's invasion of Ukraine as his approval fell to 40 percent in the new NBC News poll.

www.nbcnews.com

What most people see and know about the economy is very superficial.

They know gas and most other things are costing more, thus they are not happy and the POTUS gets the blame no matter who the POTUS is.

They know if they and their loved ones have a job or not.

Outside of that most people do not understand the economy any better than they do quantum physics

 

[task0778]

What most people see and know about the economy is very superficial.

They know gas and most other things are costing more, thus they are not happy and the POTUS gets the blame no matter who the POTUS is.

They know if they and their loved ones have a job or not.

Outside of that most people do not understand the economy any better than they do quantum physics

I know you are not a democrat, but blaming the public or implying they are dumb as it appears the democrats are trying to do on a number of issues is not the best political stand to take. I would say that most people may not know much about macroeconomics, but I'd bet they have a pretty good idea about microeconomics as it applies to them. So if they think they are worse off now than when Biden took office then they ain't likely to give him a positive rating.

That said, I do think that the sitting president probably gets more undeserved blame when things aren't good, but also gets more undeserved credit when it's good times. No matter who it is, although I do believe that the media does not paint an even picture; they bitched about everything Trump did, right or wrong. And now that Biden is in, the story is "oh well, it ain't his fault". Fuck that shit.

 

[Harpy Eagle]

I know you are not a democrat, but blaming the public or implying they are dumb as it appears the democrats are trying to do on a number of issues is not the best political stand to take. I would say that most people may not know much about macroeconomics, but I'd bet they have a pretty good idea about microeconomics as it applies to them. So if they think they are worse off now than when Biden took office then they ain't likely to give him a positive rating.

Which is really what I said. They know what effects them directly and openly. The two things that do that the most are prices and having a job.

Somewhere above there is a story about record levels of personal debt. Do you think those people doing that have a good understanding of the economy?

That said, I do think that the sitting president probably gets more undeserved blame when things aren't good, but also gets more undeserved credit when it's good times.

Without a doubt.

although I do believe that the media does not paint an even picture; they bitched about everything Trump did, right or wrong. And now that Biden is in, the story is "oh well, it ain't his fault". Fuck that shit.

Yeah, the left media does that and the right media does the opposite. I will say I have seen more negative stories about Biden in the last year than I did about Obama in 8. But as bad as Obama was, Biden is on a whole new level and some things just cannot be ignored

 

[task0778]

Somewhere above there is a story about record levels of personal debt. Do you think those people doing that have a good understanding of the economy?

Just my opinion, but I come from a background where going into debt was considered bad and to be avoided. It could be that some people are thinking that if the gov't is going to forgive student loan debt that they might also forgive other debts too. Not that they've done that yet, as far as I know all Biden has done is delay the debt payments, but the pressure is on him to eliminate at least part of all that debt. We seem to be living in a time of irresponsibility.

So, no. Many of those people don't have a good understanding of the economy, or maybe they just aren't worried about it.

 

[bugs]

As Social Securityâs finances teeter, Congress could make it worse with this rule change

This bill would eliminate the Windfall Elimination Provision (WEP) and the Government Pension Offset (GPO) rules of Social Security.

www.marketwatch.com

 

[bugs]

U.S. inflation rate leaps to 8.5%, CPI shows, as higher gas prices slam consumers

The rate of U.S. inflation shot up to 8.5% in March for the first time in more than four decades and showed little sign of easing up, explaining the...

www.marketwatch.com

 

[Woodznutz]

More than a couple of big banks see a recession on the horizon

I'm hoping for that. I need real estate prices to come down a bit. I want to buy a house.

 

[Woodznutz]

How about $15.50???

Illegal immigrants would jump at that.