comment: >
context: My entire adult life I have watched democrats dig us out of the shit with economic policies that I now understand and are actually quite intuitive and then republicans take of and just absolutely fuck everything up. 
  It's quite honestly impressive at this point for them to remain a force to reckon with, and has taught me so many things about human psychology >
  
  So whats your explanation for what is going on with country now, why did the country sink further down when biden got in? >
  
  What's going on now is that the country is recovering. The only thing that "got worse" in Biden's first two years was inflation (because jobs were steadily recovered and now are at a higher level than before the pandemic), and that happened because of Trump's tax cuts and PPP handouts raising the national debt so much more that they had to resort to printin more money to be able to honor the debts. Since the economy was going through a period of contraction before, inflation didn't hit until it started expanding again, which is a very well known phenomenon in economics when you print money during a recession. In the particular case of gas, there was price gouging going on by companies and OPEC, and even then the gas prices were lower than in the entirety of the developed world.
  How do you explain Trump fucking up so much though? He literally got an economy booming from Obama in which millions of jobs were created every year, managed to create less jobs in his first three years of government, managed to raise the national debt further thanks to tax cuts and handouts to big companies, mishandled a pandemic horribly and then caused a delayed inflation crisis subsequently that Biden and the FED had to clean up. >
  
  Oh we’ll recover strong just like every time a democrat is in leadership. Then in 2-6 years a Republican will come in. Take credit and wreck us again >
  
  Yet somehow every voter poll says they trust Republicans more to run the economy.  
  We know Dems suck at messaging, but this is something they should hammer into the public consciousness every chance they get. >
  
  But do voters go to dems for messaging or media for messaging?  Because I always see dems hammer Keynesian economics and I see quite a few clueless people.  I kind of think people look through a lense that skips dem messaging. >
  
  The problem is Democrats don’t play dirty politics quite like Republicans. Republicans flat out lie to constituents. They know most constituents don’t understand data or politics even and so they pretend like they’re responsible for the economy from the previous administration, and then do all they can to enrich themselves while they have power because they know eventually democrats will fix it again and the cycle continues. Except it’s getting worse each time. >
  
  And reason number 99944 of how democrats help clean the mess of republican’s messing up the economy >
  
  The unemployment rate is remarkably low and wealth creation is pretty solid. It’s not the usual environment for a recession. Perhaps Dark Brandon is more powerful than the Fed. >
  
  I own a restaurant and in my town I know a half dozen other restaurant owners. None of us can find employees and have even given up trying. All are offering $15 to start and even more for kitchen staff. Almost every service job that I have coming in to my store (pest control, hood cleaning, etc) same issue, they can’t find people to work even with double the minimum wage to start. I’m legitimately curious where everyone is working that unemployment is so low but every business I know or talk to the other owners about are having the same issue. Is everyone working for Amazon and Walmart or seriously where are the workers? I’m just wondering if it’s the same issue as a decade ago when they said unemployment was low because they removed people who stopped looking off the “roster”. >
  
  The recession reset a lot of long-held beliefs about jobs and life. Service industry people especially were treated like absolute shit, and in turn, when the economic climate cleaned up, went to better, more fulfilling jobs. Like, if I can’t afford rent or a house or any of that anyway ever, I’m not spending my time working for a restaurant lol. And I’m not gonna participate in a system that largely doesn’t care about me, and make no mistake, if you’re not a wealthy individual, the system doesn’t care about you, so fuck it. I’ll do the bare ass minimum and spend more time doing things I want-and that doesn’t include working in the service industry. >
  
  Yea I get that. I have been wanting out of this life for a decade but been stuck in it and not sure what else I could do. Plus I cant walk away my life was invested in this business so I’d have to try and sell before venturing out into a whole new life in my 40s. >
  
  I don’t know that struggle, and that sounds like an unintentional trap tbh. I feel for you man, I really do. I would only dissent and say that it’s never too late to start over with something new. But the again, it doesn’t always feel like that, and especially if you have a partner? Or kids? Yeah you’re kinda trapped. Hopefully help comes your way soon. >
  
  Been with same girl for 18 years but no kids. Became slaves to our restaurant and never had time to take off to raise children or afford them anyway lol. But yea I’m going to take the plunge this year or next I swore I wouldnt do this my whole life like my father who still works in his store at 70. >
  
  That’s a very long time to be doing the same thing. I bet every week has been long too. When’s the last time you took a month off and just saw a bit of the world? >
  
  Oh good god I would kill to afford a whole month off! No we take one week off a year for our sanity and to actually work towards something so we don’t lose our minds lol. >
  
  Wait, do republicans call him “sleepy joe” because he can Out-President trump in his sleep? >
  
  I thought it was because most of us sleep better with Joe in the Whitehouse. >
  
  Weird recession >
  
  I don't even get what metric people are using to justify calling it a recession.  There was solid GDP growth last quarter, this quarter looks like its going to top 3.5%. Unemployment is the lowest its ever been, and gas prices are fine now.  Corporate profits are still pretty damn good and inflation is slowing. >
  
  It’s not going to happen overnight. What you see on the stock market. Smart money pulling out is the first step. Growth is stalling, after there is no more growth than the cuts happen. After cuts, less spending, less consumer spending and higher unemployment equal recession >
  
  Growth is not stalling though, it's accelerating over the last quarter. They're trying to scare a recession into existence. The stock market isn't even down that much anymore, and the stock market isn't the economy anyways. >
  
  The fact that you are using GDP when they changed how it’s calculated following the big housing crash says that you aren’t big on following trends in the market. Globally we are entering a recession and it’s not being scared down it’s common sense. We had over a decade of record low interest rates, that’s not sustainable long term. 0-3% interest rates are insane and lead to massive growth due to basically free money in rotation. As the fed continue to increase interest rates, you shall see what’s going to happen. >
  
  It's honestly wild how little credit Biden and his Administration get. The entire world is dealing with the same precarious economic situation and the United States has thus far navigated it better than just about any other developed economy. 
  In terms of sheer agenda and legislative advancement, Biden has had the most consequential presidency since George W. Bush (not that I thought GWB was a good president or anything, but you can't deny his tenure got a lot done) >
  
  There are some interesting contradictions. We want the president to create jobs but the Federal Reserve raises interest rates to cause unemployment as it works to keep wages down; and, we believe in the supply and demand model when workers are paying more for goods but we move to active interference to prevent wages from keeping up with the cost of those goods. 
  Let's not expect the system to work.
  So it is said: Fed chairman aims to cool job market >
  
  Yep, and last week I saw a headline along the lines of, "Strong Jobs Report Worries Wall Street." Basically all the fat cats think the good jobs numbers will lead the Fed to raise rates again, which would be bad for their ability to access credit needed to make bazillions of dollars appear out of thin air. >
  
  Boomers went through this. Some lost their homes and savings but others survived and did well. 
  It isn't a bad design. It's working perfectly but not for everyone. >
  
  For the middle class maybe.
  It’s really time to throw the poor a bone here.
  I appreciate that he tried with loan forgiveness, and he’s extended the stay in response to republican judges blocking it, but we need more.  My cost of living went way up this year and my wages stagnated.
  I can probably find a better job eventually, as I have some education and experience, but many are not so lucky.
  Every time I hear about how strong the economy is I look around and see the same poverty I’ve always faced.  We desperately need to work on helping the poor, not JUST the middle class. >
  
  Agreed. But like it or not, a strong middle class pays a ton of taxes, and work jobs that allow for the support industries to flourish. Trickle down economics from the top is absolute crap, but not when coming from a strong middle class. A strong American middle class spends money like no other, and usually on goods and services provided within this country. I agree with you that we need to work to improve the lives of all people, but a way of doing that is solidifying the middle class, while adding to it by pulling people up from “below” (I hate to use that term, but it helps explain my point). >
  
  The problem now is not so much jobs but lack of people to fill them. >
  
  Oh no. The people exist, but the wages and benefits are fucking awful. >
  
  This doesn't offer any evidence that the people don't exist. >
  
  Newsflash: Just about anything a sitting president does to combat inflation works. The issue is whether the president wants to. >
  
  I mean, sure. One of the largest generations of all time who delayed retirement by years are finally getting out of the work place, while holding a disproportionate amount of capital, and demanding that services maintain at the exact same level.
  Reaching a lower rate of unemployment for those who are seeking employment is still a good thing. the plan, given the present scenario, is still working. >
  
  I just bought a dozen eggs for $8. Is that part of the plan? >
  
  Lol do you blame Biden for egg prices?  If you haven’t notice they had to kill off over a million chickens because of a bird flu.  Clutch your pearls harder. >
  
  That was the first thing that popped into mindbe abuse of a recent purchase. 
  Everything in the grocery store has gone up in price. Everything in just about every store has gone up in price. 
  Including pearls.... >
  
  Wait 6 months >
  
  After republicans have even more power to obstruct in the new Congress? >
  
  No, the FED rate hikes and QT impact is just hitting. The economy will be ugly by Summer. The president wouldn’t matter >
  
  People have been saying this for a year. I honestly thought we were heading off a cliff in the spring of this year, but it just has never hit. I don't know whether I am just being positive (for once), or I simply don't understand any of this crap, but I don't really think anybody really knows what will happen next at this point.
  What I can say is that I work for a small town in their planning/development review department, and while there was a slowdown in the spring/summer, companies are back to going full steam ahead. >
  
  Says the guy who posts in the jordan peterson subreddit. >
  
  He has it all figured out then >
  
  time to brace ourselves for another rate hike. >
  
  Bullshit headline. Owners can’t find help, employees can’t afford housing. Health insurance is still out of reach. This is success? Lost old man who’s handlers care only about votes not people. >
  
  Raise rates faster. 
  Look for another 25% food price increase this month . >
  
  Raising the rates won't lower food costs. Raising rates ain't gonna fix the massive poultry losses we had from disease or fix meat prices after we had record droughts and low beef yield. >
  
  Take a peek at the profit margins on these companies .
  It’ll be a real eye opener. They’re not suffering at all. >
  
  They raised their prices. Chicken, beef, pork, turkey and every type of meat sold in a butchers shop or your local supermarket have all gone up considerably.
  So of course their bottom line isn't suffering, they are putting out less product but making more per pound of meat than they were two years ago. >
  
  And when supply returns, prices will remain high and the record growth will continue until the next shortage, when they can jack up prices again. It's the cycle of livestock. >
  
  Oh please, they've been increasing prices slowly for years despite record sales and modernization that makes it easier and faster to process the animal. Not to mention that wages paid to their employees have been well below the living wage, even in rural areas. 
  The meat industry, like many others, is controlled by like four or five companies. What we need to see is the government bringing down the hammer and smashing up these monopolies. >
  
  We just went through a pandemic with businesses everywhere shutting down and later reopening. There's no way jobs wouldn't skyrocket afterwards. >
  
  Hahaha, what year do you think it is? It’s all the businesses reopening again because the pandemic in Q4 2022. >
  
  We have a decade of record low interest rates 0-3%. When the feds take us to double digits I would love to hear from the people that insist we won’t be in a recession lol 
  It takes time and it’s going to happen…start saving and prepping >
  
  Please stop though so the fed will stop. Do some Trump job shit for a few quarters please. >
  
  The Lend lease plan of supporting the war in Ukraine also helps as it spurs the development of the economy....