U.S. Mid-terms

[WyattEarp]

Exactly, the GOP blames him for inflation.
So he gets job growth as well.

But there are lots of other stats that show that dem presidents have done much better economically than GOP over the last 50 years.
If you want to go there.

Frank, I'm sure you could find tweets, articles and studies to selectively post. Do you really think economics is your bailiwick? I'd say climate change, social justice and Palestine are more your wheelhouse.

Let me ask you an economic question. In a inflationary environment when real wages (inflation adjusted) fall at a rapid rate, what do you think that generally will do for hiring?

 

[Frankfooter]

Frank, I'm sure you could find tweets, articles and studies to selectively post. Do you really think economics is your bailiwick? I'd say climate change, social justice and Palestine are more your wheelhouse.

Let me ask you an economic question. In a inflationary environment when real wages (inflation adjusted) fall at a rapid rate, what do you think that generally will do for hiring?

Don't forget to add election predictions as my wheelhouse.

It depends on how long this inflation lasts, the numbers say its going down already.
Now its down to corporate greed, which can be managed.

Inflation is a problem if it continues, for sure, but it doesn't take away from job growth.

 

[Oldguy12345]

Hey I guess all you lefties are find with the student debt relief for a gender studies degree ?

 

[toguy5252]

Frank, I'm sure you could find tweets, articles and studies to selectively post. Do you really think economics is your bailiwick? I'd say climate change, social justice and Palestine are more your wheelhouse.

Let me ask you an economic question. In a inflationary environment when real wages (inflation adjusted) fall at a rapid rate, what do you think that generally will do for hiring?

No to bud in but why are real wages falling? If it is because there is lower demand for the goods and services then the lower real wages by themselves would not lead to hiring.

 

[WyattEarp]

Don't forget to add election predictions as my wheelhouse.

It depends on how long this inflation lasts, the numbers say its going down already.
Now its down to corporate greed, which can be managed.

Inflation is a problem if it continues, for sure, but it doesn't take away from job growth.

The answer is if real wages fall rapidly that's initially good for job growth. Falling real wages makes labor cheaper relative to prices. Of course, there will be painful adjustments. Everything is interrelated in economics.

Inflation can initially support job growth. The problem is when inflation.wage expectations set into the economy. That's what the Fed is fighting with high interest rates. They want to stop an inflationary spiral from starting.

The greater point is the post-Covid economy has yet to normalize. That's neither Biden's total fault or to his credit. I think it's fair to challenge him on high government spending levels beyond Covid-relief. If you think spending by liberal governments always makes people lives better, that's your prerogative.

 

[WyattEarp]

No to bud in but why are real wages falling? If it is because there is lower demand for the goods and services then the lower real wages by themselves would not lead to hiring.

If you have lower demand for goods and services, you should see a drop in prices along with lower wages. (Not talking about a deceleration in price increases. Talking about a drop in prices.) It's important to note that wages aren't falling. They are just not keeping up with high inflation.

I think perhaps too much govt. spending during a period of supply constraints has supported inflation and squeezed some private sector employers ability to raise wages lockstep with prices. Sometimes govt. spending has contributed to the current supply constraints. The Cleveland Fed released a report that industries that had high levels of PPP (paycheck protection) loans currently have the highest labor disruption.

I know oil prices are high globally, but we have been down this path in the 70s. High govt. spending and money printing simultaneous to supply shocks leading to spiraling inflation. That's why the Fed is initiating draconian rate increases.

We live in a binary political world and we have a lot of binary political thinkers here. So let me say again Biden is not responsible for high inflation. I however don't think he has done anything (beyond naming some legislation the Inflation Reduction Act) that would impact inflation positively anytime near-term.

I think almost all non-aligned economists would disagree with higher govt. spending levels while the Fed is raising rates. The Federal Reserve is fighting the Federal government now.

 

[Butler1000]

If you have lower demand for goods and services, you should see a drop in prices along with lower wages. (Not talking about a deceleration in price increases. Talking about a drop in prices.) It's important to note that wages aren't falling. They are just not keeping up with high inflation.

I think perhaps too much govt. spending during a period of supply constraints has supported inflation and squeezed some private sector employers ability to raise wages lockstep with prices. Sometimes govt. spending has contributed to the current supply constraints. The Cleveland Fed released a report that industries that had high levels of PPP (paycheck protection) loans currently have the highest labor disruption.

I know oil prices are high globally, but we have been down this path in the 70s. High govt. spending and money printing simultaneous to supply shocks leading to spiraling inflation. That's why the Fed is initiating draconian rate increases.

We live in a binary political world and we have a lot of binary political thinkers here. So let me say again Biden is not responsible for high inflation. I however don't think he has done anything (beyond naming some legislation the Inflation Reduction Act) that would impact inflation positively anytime near-term.

I think almost all non-aligned economists would disagree with higher govt. spending levels while the Fed is raising rates. The Federal Reserve is fighting the Federal government now.

Ypu can add a lack of Pandemic immigration resulted in a reduced labour force, especially in NA. Quite simply the kitchens didn't get the staff back.

 

[WyattEarp]

Ypu can add a lack of Pandemic immigration resulted in a reduced labour force, especially in NA. Quite simply the kitchens didn't get the staff back.

That's very possible, but I don't think they went back to their native countries. There's definitely labor disruption and that hurts supply. It's also been noted that some industries are training new people, but productivity has suffered.

 

[squeezer]

I didn’t say a single word about trump period
But what you have now is all Biden bro
You lefties will accept anything as long as nobody from any community ever gets their feelings hurt which is just not real life

So then, if Biden didn't win who would have been in charge of the USA today? If trump has his way, who will run in 2024 for the Repugs? Please explain, I'm lost.

 

[toguy5252]

If you have lower demand for goods and services, you should see a drop in prices along with lower wages. (Not talking about a deceleration in price increases. Talking about a drop in prices.) It's important to note that wages aren't falling. They are just not keeping up with high inflation.

I think perhaps too much govt. spending during a period of supply constraints has supported inflation and squeezed some private sector employers ability to raise wages lockstep with prices. Sometimes govt. spending has contributed to the current supply constraints. The Cleveland Fed released a report that industries that had high levels of PPP (paycheck protection) loans currently have the highest labor disruption.

I know oil prices are high globally, but we have been down this path in the 70s. High govt. spending and money printing simultaneous to supply shocks leading to spiraling inflation. That's why the Fed is initiating draconian rate increases.

We live in a binary political world and we have a lot of binary political thinkers here. So let me say again Biden is not responsible for high inflation. I however don't think he has done anything (beyond naming some legislation the Inflation Reduction Act) that would impact inflation positively anytime near-term.

I think almost all non-aligned economists would disagree with higher govt. spending levels while the Fed is raising rates. The Federal Reserve is fighting the Federal government now.

I agree with most of what you say but a lot of the inflation today results from the misalignment of demand for goods and services. it is slowly getting back into alignment which should ease some of the issues with supply chains etc. I also agree that government spending can exacerbate inflation, however, although I do believe that Joe is committed to fighting inflation he also has to deal with the displacements etc which have resulted over the last few years. While the rich have been getting richer the porr have been getting poorer and inflation make that situation worse. He is trying to mitigate some of the pain. Was it ultimately smart? I think it was right but time will tell whether or not it was smart. I disagree that the IRA will not have some longer lasting beneficial impact on inflation. If you look at the components they will have longer term beneficial effects on supply chains. There are some immediate benefits but they are minimal. Lower drug prices etc. which will help the most vulnerable.

 

[mandrill]

 

[mandrill]

https://twitter.com/x/status/1590896100654858242

 

[squeezer]

https://twitter.com/x/status/1590896100654858242

Warnock must be a white dude LMAO

Wait, I got it, Warnock is Justin in blackface, sneaky JT.

 

[JohnLarue]

I think almost all non-aligned economists would disagree with higher govt. spending levels while the Fed is raising rates. The Federal Reserve is fighting the Federal government now.

this I agree with
If you have mis-aligned monetary and fiscal policies, neither will achieve their objective without going to extremes

The fed will need to crater the economy in order to get inflation down

Trudeaus spending is also working against the bank of Canada

this will not end well

 

[Butler1000]

That's very possible, but I don't think they went back to their native countries. There's definitely labor disruption and that hurts supply. It's also been noted that some industries are training new people, but productivity has suffered.

I have connections to the hospitality industry still. Its a BIG factor in lack of labour forcecand increased wages. And it applies to many industries.

But tech us starting mass layoffs. I expect more next year.

 

[Valcazar]

Also, doesn't she own a gun-themed restaurant?

I think it went bankrupt.
She doesn't appear to have been very good at running her business.

 

[Valcazar]

I dont really care who runs in 2024, Trump or DeSantis.
I just want Republicans to win and get this economy back on track

Which is it?
You want Republicans to win or your want to get the economy back on track.
Those tend to be in opposition to each other.

 

[Valcazar]

I don't watch Fox News. Didn't they question the selection of novices Walker, Oz and Masters before the election?

It was certainly being criticized in other media.

I'm sure they did some.
They probably reported on McConnell's obvious distaste for the candidates he was stuck with.
But they also did their best to shore them up.
Not so sure about Masters, but they did a lot of work to try and pump up Oz and Walker.

 

[Valcazar]

This seemed a bit self-indulgent on Biden's part. I don't mind a bit of gloating in politics, but implying that Democratic victories equate with democracy is just as toxic as election denial.

It's simple fact as long as the GOP insists on running people who don't believe in democracy though.
That it cost them dearly this time around will hopefully push it back, but the GOP really does seem to be solidly in on the "if democracy gets in the way, democracy should be jettisoned" camp for now.

 

[Valcazar]

Interestingly, Democrats in power hasn't been good for CNN/MSNBC's ratings just like Trump in power was not great for Fox News' ratings. Cable news on both sides needs a boogeyman to thrive.

Is that true?
I thought Trump was very good for Fox ratings.
Did they dip while he was in power?
(It may well be true, I don't pay that much attention to ratings overall.)