Some companies raised prices and made greedy money. And those companies don't want to lower the prices back.
Shameful.
this post was submitted on 06 Feb 2024
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You can never be critical enough on the party that supposed to represent the people doesn't do a fucking thing to help. Fascism vs. indignation. What a fucking country we live in.
What part of 6% mortgage and 9% auto loans screams "great economy" again?
I mean neither of those is a problem, the problem is that prices aren't adjusting to match.
But housing won't go down because it's become an investment, and cars won't go down because during covid manufacturers learned only selling expensive models increases profit margins.
If anything, high rates are good. They encourage saving and curb consumerism, which are both things Americans at large can use help with.
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Greedflation, but he has already commented on being concerned about it.
This is the same as when Trump says the economy is great, its just great for stockholders. Biden knows this, hell half the people he's speaking to know this but will believe him anways. It's okay though, next time a republican is elected they'll go back to remembering that 'the economy' is just code for rich peoples investments. But not a moment before then, because they're utterly terrified of critisizing Democrats.
I dunno. I don't really think they're connecting it. All of the messaging I'm seeing is around "hey. We did a great thing. Why aren't more people cheering us on?"
Biden has just started to go after food gouging, but hasn't really done anything about companies like Black Rock buying up all the housing and jacking up the rental and real estate markets.
But who knows. It's messaging from the white house, so it may or may not be misguided.
That article seems like utter bullshit designed to make Biden seem out of touch. There’s no proof, it’s all hearsay about him supposedly seeking questions from his advisors. What is CNN’s angle here?
Mandate WFH for companies that have proven they can do it especially for those of us who would rather die than be in a room full of people.
This is the best summary I could come up with:
That disconnect looms large over Biden’s political prospects, with White House advisers and campaign officials acknowledging that how Americans feel about the economy could be decisive in determining whether the president can win a second term in November.
But one senior adviser to the president told CNN the one thing they have not offered Biden is a prediction for when the American public’s psychology about the economy will have meaningfully improved.
There is also a delicate balancing act for the president to execute: Touting economic progress while being publicly sympathetic to the reality that many Americans still feel burdened by high prices, including on rent, housing and food.
To that end, Biden has started testing out lines that point the finger at some corporations that he says are taking advantage of the fact that prices were at record highs for so long.
And as Biden addressed culinary union workers at a hotel cafeteria in Las Vegas on Monday morning, he pointed to a classic American candy bar to gripe about shrinkflation.
A recent New York Times op-ed by the chief economist of UBS Global Wealth Management that used the price of Snickers bars to examine why so many Americans are still unhappy – despite falling inflation – had caught the president’s eye.
The original article contains 858 words, the summary contains 212 words. Saved 75%. I'm a bot and I'm open source!
Thank you for your time.
By basically all metrics, the US economy is moving in the right direction. Its just in a really big pit on some of them.
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The reporting on the economy is very much in line with the sentiment "The surgery was a success. Unfortunately, the patient perished." Different metrics matter to different people. Food prices climbed faster than gas or housing, so inflation feels high (we have to make different choices to afford to eat), but it's not actually as high as it feels.
The employment rate (yes, that one, not the unemployment rate) is still not great, and lots of companies in the tech sector are tightening their belts to try to deliver on the sky high expectations they've been selling. The whole thing looks hollow.