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GOP bloviates endlessly about inflation because they like to buy stuff. They don't care about the American workers who make stuff and provide services. They just want it done cheaply with as much abuse and suffering as possible for the ungrateful peons. They are such "job creators".
Uh, workers who make stuff and provide services like to buy things too. They're probably the ones who notice and are affected by inflation the most.Johnny2X2X (19,330 posts)
20. Markets are a factor toward the overall health of the economy
Reply to progressoid (Reply #13)
Thu May 16, 2024, 12:06 PM
First, wage growth is the biggest factor for a healthy economy to me. Wage growth has exceeded inflation for well over a year now, and real wages (that is wages taking into account inflation) are higher now than before covid.
Next, jobs is extrememlly important. Job creation means that there is demand for workers, this leads to wage growth.
GDP growth is what dries job growth.
And earnings is what causes companies to invest in themselves and their workers and lead to all of the above. So the markets are improtant for the overall health of the economy. And 80% of workers are invested in it. It matters to regular people, just look at when it was down how much regular people were complaining about it.
k55f5r (203 posts)
26. ?????????
Reply to Johnny2X2X (Reply #20)
Thu May 16, 2024, 12:40 PM
And earnings is what causes companies to invest in themselves and their workers and lead to all of the above
This only works if they get taxed higher on profits, and want to put the money back in growth rather than just give it to the government.
Johnny2X2X (19,330 posts)
27. But the economy is in fact growing
Reply to k55f5r (Reply #26)
Thu May 16, 2024, 12:44 PM
And job growth has been breaking records. Why? Because demand is there, because people have money to spend, thus companies must invest their earnings to meet that demand or they lose market share.
progressoid (50,034 posts)
29. Healthy economy for who?
Reply to Johnny2X2X (Reply #20)
Thu May 16, 2024, 12:47 PM
- The richest Americans own the vast majority of the US stock market, according to Fed data.
- The top 10% of Americans held 93% of all stocks, the highest level ever recorded.
- Meanwhile, the bottom 50% of Americans held just 1% of all stocks in the third quarter of 2023.
Walmart announced hundreds of layoffs yesterday while its share price hit a record high in March.
A third of Amazon workers have to rely on government assistance programs.
Half of Amazon warehouse workers struggle with food and housing costs.
Amazon's stock hit an all time high in April.
More Americans are falling behind on their credit card bills.
About 8.9% of credit card balances fell into delinquency over the last year, according to the Federal Reserve Bank of New York — a sign that a growing number of borrowers are feeling the strain of rising prices and high interest rates.
"Everything is more expensive. Debt is more expensive. Rent is more expensive. Food, gas, everything," says Charlie Wise, senior vice president at TransUnion, the credit reporting firm. "Even with relatively healthy wage gains we've seen over last several years, many consumers just aren't keeping up with the price pressures."
Johnny2X2X (19,330 posts)
34. And how did it get that way?
Reply to progressoid (Reply #29)
Thu May 16, 2024, 01:08 PM
50 years of Conservaive economic policy?
And how is it getting better now and in the future? Joe Biden's working people centric economic policies.
Wage growth has been robust, but the internals of the wage growth are even better.
https://www.morningstar.com/news/marketwatch/20240323298/the-lowest-paid-us-workers-are-seeing-their-wages-surge-faster-than-any-other-group-of-earners
"Real wages of the lowest-paid workers grew 12.1% between 2019 and 2023, researchers at the left-leaning think tank found, surging faster than the wages of any other group of earners. That number is adjusted for inflation."
Joe Biden knows healthy economies are built from the bottom up, not the top down.
Johnny2X2X (19,330 posts)
44. But it's not braggng about how well the top is doing
Reply to progressoid (Reply #42)
Thu May 16, 2024, 02:14 PM
It's showing that the whole economy does better with a Democrat in charge. And more than half of people are invested in the markets through their retirements, I for one am far from wealthy, but very appreciative that my 401K is doing to well right now.
And furthermore, the company I work for is listed on the stock market and it also doing very well, making our plans for expansion and acquisitions more possible. Making the chances of any layoffs very small in the near term. Tens of millions of Americans work for these companies and are happy to see their company's stock prices doing well. It's not just ther 1% benefitting from this.
And on top of that, Biden frames his statement on this correctly in that Trump said the markets would crash and they aren't.
A DOW at 40,000 is related to UE under 4% and ecord job growth. And all 3 are related to wage growth, which has exceeded inflation for some time now.
No one's cheering for what this means to the 1%, they're always doing great. But they are cheering for a soaring economy that shows few signs of slowing down. Democrats are always better for the economy than Republicans. I thought Biden's released statement on this was right on the mark.
IronLionZion (45,680 posts)
14. Trump is taking credit, claiming it's because of his polling or something like that
Reply to Johnny2X2X (Original post)
Thu May 16, 2024, 11:51 AM
GOP bloviates endlessly about inflation because they like to buy stuff. They don't care about the American workers who make stuff and provide services. They just want it done cheaply with as much abuse and suffering as possible for the ungrateful peons. They are such "job creators".
Republicans have been promising recession for 4 years now. I'm beginning to think it's like Republicans promising tax cuts will trickle down, or the rapture, or Mexico paying for the wall
former9thward (32,181 posts)
30. When you take credit for the Dow going up, you own it when it goes down.
Reply to Johnny2X2X (Original post)
Thu May 16, 2024, 12:49 PM
Most presidents don't want that hanging around their neck.
Johnny2X2X (19,328 posts)
DOW just broke 40,000
First time ever. Biden should call a press conference to take credit. His economy is builot for working people, and when working people do well, so do investors.
https://www.democraticunderground.com/100218953775
In a video that has surfaced on Facebook, a person who matched images of the man taken into custody Wednesday was heard saying "I do not agree with government policy," according to Reuters.
"Liquidated mass media. Why is [public broadcaster] RTVS being attacked?" the man reportedly continued, while also questioning the removal of the chairman of a state judicial council.
Slovakia’s government in late April had approved a controversial overhaul of the country's public radio and television services, a move that critics say would result in the government taking full control of the media.
...
Media in Slovakia say the suspect is a former shopping mall security guard and a member of a Slovak Society of Writers, according to Reuters.
Slovakian Prime Minister Robert Fico is a visionary hero of Europe. He even knew that his populist policies could lead to an attempt on his life as you can see here. The perp who was apprehended in the assassination attempt even admitted that he shot Fico because he disagreed with his policies. An assassination attempt that came just days after Fico rejected the WHO pandemic accord. In addition, Fico also told the NATO Secretary General to his face that the slaughter in the killing fields of Ukraine must stop. The globalist media has been attempting to paint Fico as some sort of dangerous right-winger yet Fico is the one who wants peace and see that the senseless proxy war be brought to an end.
So, yeah, Fico was definitely shot for obviously political reasons.
Carter: Thanks to biden, I'm no longer considered the worst president ever..
Carter: Thanks to biden, I'm no longer considered the worst president ever..
and QFT, though OhBummer! and Slick Willy probably were worse than JEC.
