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Biden materially helped the working class more than any president in living memory, and the electoral punishment for that will reverberate for decades.
People are responding to this saying that Biden should have messaged this better. How do you tell people they didn't solely earn their raise or their new job without making them mad?
Yup, gen z thinks this economy sucks, wait until they get their first recession
Neither party is ever going to care about low income white workers' wages for generation, and in fact both parties will actively try to squash them.
People think that prices are controlled by the levers of the government but that wage increases are some kind of natural phenomenon earned by their own hard work.
After suffering from Bidenomics for the last 3+ years, Americans are ready for different policies that will bring back economic prosperity.
Sign Club for Growth's petition to tell Joe you're DONE with Bidenomics.
The problem is that people have loss aversion, and feel loss at 2x the gain. So if inflation brings costs up 8%, and my wages up 10%, I am economically ahead, but emotionally behind. Wages need to climb 16% to make up for 8% inflation.
The SVB bailout was an example of how it
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His approach has led to historic job growth, with over 12 million jobs created and unemployment rates at a 54-year low, including near-record lows for Black and Hispanic workers.
What really happened is that wages did not rise enough to keep up with inflation, but just enough to take folks’ subsidies away, leaving them worse off than before.
can't wait for them to see how bad Trump will fuck up their economy. only benefiting the rich.
President Biden's economic strategy focuses on building the economy from the bottom up and middle out, rather than top-down ¹.
How Ron Conway went from playing in local San Francisco politics to ousting Joe Biden.
“Soft landing” where housing is nearing the highest unaffordability levels ever, groceries are more expensive than they’ve ever been, and healthcare is sending the poorest among us into crippling debt…
You assume inflation was fully determined endogenously by the increase in wages at the left part of the tail. But a good part, if not most of it, was determined exogenously. And the Fed also did a soft landing.
That’s not what happened. All the wage gains were for government workers. Lots more PT and gov jobs.
Right, inflation is the worst possible thing in a macro economy. You can't just "mitigate" it.
Interesting theory, but the backlash shows just how hard it is to balance inflation with wage growth.
Unemployment hit 10% early in Obama's first term and he still won reelection because inflation was so low.
Any future president would let unemployment go to 15, 20% before they dare risk inflation.
How did he increase wages? How do you legislate the value of the work done so that it is somehow more valuable?
Yeah because it makes the poor earn more but cost goes up equal or faster so they stay right where they were…. But now you did nothing for the middle class but bring them down and they felt it. The rich don’t give a shit. So basically you created more poor.
Their wages didn't increase though, in relation to the cost of living for items they had to pay for every day. The REAL cost of living increase, not the bullshit that excludes everyday items, ate up all their gains and then some.
Attempting to “pay for” making the individual Tax Cuts and Jobs Act provisions permanent by imposing universal baseline tariffs would cause a net reduction in tax revenues and economic output, while simultaneously increasing the tax burden on lower- and middle-income taxpayers.
Yes, focusing on policies that improve the fortunes of 25% of the population at the expense of 75% of the population is not good politics
Not to mention the infrastructure bill being some of the best bipartisan legislation in modern American history that we won’t see the results of for a decade and republicans will take credit, like they did for Carter’s accomplishments
Donald Trump's reelection sets the stage for policy changes that could upend the lives of millions of immigrants, recast the U.S. economy and labor force.
My insurance on everything increased substantially.....I have less money in savings than 4 years ago....less money after essentials
No Americans weren't better off
They led a combination mass immigration and offshoring effort.
Wages are falling.
I am not an economist but I can share my family’s personal story. In 2021, we were debt free with a small savings. Today, we have credit card debt & a 2nd mortgage. My husband & I both work in public education. Our mortgage went up, our insurances went up, and our groceries
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Maybe his theory should focus on turning inflation into an Olympic sport – gold-medal-worthy, but without the gold standard. Who needs that when printing is free?
The African petrostate is hoping the US-backed Lobito corridor will attract domestic investors and help fund Angola’s economic transformation.
Americans can look forward to more recessions in the future. It’s clear that is the preference over a year of spiked inflation.
People think that prices are controlled by the levers of the government but that wage increases are some kind of natural phenomenon earned by their own hard work.
So many places are closing. Everything is more expensive… Idk wtf you’re talking about but it must exist in your fantasy world
"We're disrupting what nobody trusts, mainstream media. We're disrupting what nobody can see, which is Wall Street."
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Hedgeye CEO delivered a masterclass in how the Hedgeye #process can help you preserve and grow your portfolio in this post-electionShow more
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Where are these magic wage increases? Every fast food and lower income job in my county cut pay by up to 50% from pandemic hourly wage levels. Then they deal with inflation. Toilet paper costs at least 40% more than it did before the pandemic. Rent for housing/apts up 30 to 50%.
Wages rose on average ahead of the culmative total of inflation but not necessarily for the poorest...
Also this was after everyone saw their savings destroyed so while it's a factual point it doesn't tell the full story as even those who are now earning more than the total
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Poorest workers wages went up slower than the inflation of goods and services. They lost ground.
when the economy outpaces people's wallets, they’ll always blame the ride not the driver.
This is one of the most retarded things I’ve ever read and my sister has Down syndrome
Trump raised people out of poverty at the fastest rate since the 60s and kept inflation around 2%. That's why he's president again 
They kept on spending a trillion every 100 days on top of all their bills always being 1-5 trillion.
We would have gone bankrupt.
They destroyed the Dollar.
Except that they’re actually worse off since inflation exceeded what little they received in wages.
It nearly bankrupted this country, and we are still heading that way. We have not soft landed. We are literally looking at a collapse of the housing market for worse than in 2008. Hopefully, trump can mitigate the damage from bidens polices.
So the people that were not the poorest (poor ppl who got themselves there) are stuck with crippling inflation? You're dumb af....
Totally false. It ignited inflation and drove down real wages. That is a fact. And it SHOULD NEVER BE TRIED AGAIN.
He didn’t raise wages, the soft landing on inflation came after a roughly 30% cost of living rise. Everyone is now effectively poorer.
I award you no points and may god have mercy on your soul.
Biden's actual theory is if you can increase the cost of everything by 25% in 3 years, the poorest workers will be enslaved to DNC welfare and have to vote DEM.
Turns out poor people see through the BS
Opinion | The Biden administration has delivered an impressive economic recovery, but many voters remember lower prices under Trump.
Here are 17 charts comparing Trump’s economy vs. Biden’s.
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Rapidly increasing wages mean nothing when prices and cost of living outpace them. If you print trillions and dilute your fiat currency’s spending power, it will eventually crash your economy.
This is the worst economy and inflation in 30 years. Even Harris ran on the economy is broken. You are not going to change the narrative.
The Berlin Wall fell for a reason. It would be foolish to consider trying to rebuild it - and all it represents - today.
Biden's economic theory? Do you mean his handlers' theory? Certainly, Biden's economic knowledge extends only to how much change he gets after paying for his ice cream cone.
So during trumps first term his wage growth even after you include the year the country collapse with Covid, was still 6.4%, that’s real money in American pockets, Biden/harris wage growth was 1.4%, that’s abysmal and failed to keep up with inflation.
Inflation was caused by devaluation of the currency via printing a lot more of it during and post COVID lockdowns.
Both teams are culpable for that so I don't get what you are trying to say here...
