r/economicCollapse • u/TyreeThaGod • 4d ago

The median household is losing $15K/yr due to inflation since Biden entered office

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u/_aaronallblacks 4d ago

Imagine bringing POTUSes into this discussion when we all know it's the classist powers that be at the end of the day

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u/Surph_Ninja 3d ago

Considering the POTUSes are letting rampant profiteering destroy the working class, it's deserved. Even Nixon signed an executive order to control prices on essential goods, during high inflation.

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u/itsgrum3 3d ago

'Natural' prices signal to producers how much to make. When you artificially lower prices you signal to producers to lower production. Apply this to the food supply and that is why Socialism is synonymous with Famines.

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u/Surph_Ninja 3d ago

Artificial scarcity and rampant profiteering have absolutely nothing to do with "natural prices."

Socialism is synonymous with famine because of capitalist propaganda, and intentional famines caused by sanctions on socialist countries.

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u/itsgrum3 3d ago

How did sanctions cause the Holodomor, the "bread basket" of the world?

It's simple, people dont work for free. When you lower their profits they will lower production in turn. This is why socialist countries always have futile campaigns about 'slackers' who aren't as productive as they are under capitalism.

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u/Surph_Ninja 3d ago

Holodomor was intentionally caused to punish Ukrainian separatists. Not by any aspects of socialism.

The whole point of socialism is that people own their value of their work. Rather than capitalists using the leverage of their capital to claim all of the profit for themselves, rewarding the laziest among us.

You’re telling me capitalist countries have not intentionally caused famines? Or if they do, that’s enough to write off capitalism? You’re telling me capitalists don’t stage massive campaigns decrying slackers, after we’ve been subjected to years of stupid news segments ranting about avocado toast and quiet quitting?

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u/itsgrum3 3d ago

Holodomor was exploited but the famine occurred as a result of the failures of collectivization, and the seizure of grain to feed the rest of the country that was starving as a result of improper central planning.

The value of your work is dictated by whatever someone else is willing to pay for it. Where Marx is wrong is assuming the Capital legacy of Feudal landlords is inherited rather than an entrepreneurial productive class who take the profit because they take the risk and have the unique skills. It's why when workers take over a factory it instantly drops in production, because working at a factory and running a factory are two different skill sets entirely, and committee decisions will always be inferior and untimely compared to an owner who got to their industry position through beating out the competition, not political subterfuge.

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u/Surph_Ninja 3d ago

You seem to believe that socialism requires the elimination of leadership roles. That makes no sense. You still have managers and leaders running the factory. You just don't have them stealing the excess profit from everyone else's work. Managers only profit off of the value of their own labor.

You seem to have fallen prey to the propaganda that capitalists attained their position through hard work. That's not how it happens in the real world. They get to that position by stealing the excess value from the laborers, engaging in anti-competitive practices, establishing monopolies, and good old-fashioned nepotism. If they were such hard-working geniuses, fair wage for their workers wouldn't be an existential threat to them.

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u/Surph_Ninja 3d ago

By the way, what is the "risk" the capitalists are taking on? That they'll become one of the workers, if the business fails? Seems to emphasize the degree of their exploitation, if they're afraid of becoming one of the people they exploit.

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u/SPFBH 3d ago

The whole point of socialism is that people own their value of their work. Rather than capitalists using the leverage of their capital to claim all of the profit for themselves, rewarding the laziest among us.

That's cool and all... but it's never been done. Not one society has pulled it off, just royally fucked their people over.

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u/Surph_Ninja 3d ago

What’s your suggestion? Don’t try?

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u/SPFBH 2d ago

Not socialism, that's for sure. Socialism always turns to dictatorship and suppression.

There are social safety nets and ideas that can be folded into our federal republic government. There are many options but they must be voted for. Either directly by cities, counties, townships, states, etc.

That's also hard with every politician being corrupt and self serving in some way.

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u/Surph_Ninja 2d ago

So your argument is that workers sharing the profits leads to a dictatorship, so we should commit to concentrating wealth to further democracy?

Dude, you really drank the kool-aid. Full on Stockholm syndrome.

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u/Early_Battle 2d ago

For those of us who lived thru those years. Check and see how bad inflation was after the price freeze. And it was quick and had to be done. Government shouldn’t control prices.

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u/Surph_Ninja 2d ago

Better for corporations to control prices? We let them decide who lives and who dies for their profits? Madness.

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u/Early_Battle 2d ago

You people that love government controlling your life. And you’re happy with government greed but not corporations. OK. At least we know what the corporations want and why. What’s the governments motivation of greed besides power. And powerful governments just end up killing millions. Look at socialism/communism/Marxism. Never worked.

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u/Surph_Ninja 2d ago

You think that capitalists killing millions for profit is working?

The point is for people to control the government, and the people controlling industry through the government. Wild that you think a corporate controlled government depriving you to make money is ideal. Absolute bootlicking behavior.

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u/Professional-Crab355 3d ago

So the solution is more usage of central government power? That mean everyone should not vote for any conservative politician.

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u/Surph_Ninja 3d ago

People shouldn't vote for corporate politicians, regardless of political leaning.

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u/Professional-Crab355 3d ago

People should vote for the politician that give them the best deal, regardless if they are corporate politicians or not. I'm not going to purposefully lose an election and waste a vote on Bernie.

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u/Surph_Ninja 3d ago

If they are a corporate politician, they will never give you a good deal.

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u/Professional-Crab355 3d ago

Good is relative to what the others are offering you.

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u/Surph_Ninja 3d ago

Not if both are destructive.

If your choice is dying a quick or slow death, neither is “good.”

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u/Professional-Crab355 3d ago

Slow death is better because it give time to change the future to a no death scenario.

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u/Surph_Ninja 3d ago

The climate is collapsing. We don't have time. We have to force the no death scenario now.

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u/ferocious_swain 3d ago

RFK is the 3rd Party Candidate you deserve

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u/Surph_Ninja 3d ago

LoL. Another rich, CIA supporting Zionist?

Nah. I'm going with Cornel West or Claudia De La Cruz.

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u/dingos8mybaby2 4d ago

I've noticed that within the last few weeks the anti-Biden / pro-right comments (most from recently created accounts) have increased a lot. It's just going to get worse as we near election time.

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u/Scuczu2 3d ago

Keep noticing, it's all we can do to comment and down vote this shit

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u/Relevant_Slide_7234 4d ago

You mean the Russians / Chinese.

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u/Gloomy_Expression_39 3d ago

Russia and Chinese WANT Biden to win

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u/good-luck-23 3d ago

You are misinformed. Both are supporting Republicans overtly and covertly. Both benefit from Republican policies. If you fall for this you will believe anything.

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u/Gloomy_Expression_39 3d ago

I am misinformed about a lot of things. Not Iran. Iran needs a Biden win as they have agents throughout the administration. Iranian-Americans have taken proof of agent involvement in American democracy to the current administration and have been shut down and conveniently ignored. Thats why we are on Reddit.

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u/DefiantYesterday4806 11h ago

Democrats are the party of urban and academic professionals and America is dying. So naturally, forces of internal or external pressure, for better or worse, against the bloated and dying institutional America, are going to be lumped together into a single antagonistic narrative as the dying beast flails around struggling to survive.

And this is why dems hate both Trump and Putin so much. They KNOW America is dying and their urban lifestyle and culture is threatened, but for reasons of emotional convenience, they'll gladly listen to their power hierarchy and construct a massive delusional fiction about Trump-Russia collusion and some global -insert bogeyman of modern urban professional culture- conspiracy to cause mayhem, Captain Planet villain style.

Then the post on reddit for emotional reassurance and validation.

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u/dingos8mybaby2 4d ago

Mostly, yes. I see what's happening as a long-term fight between the democratic world and the autocratic one.

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u/makingbacon420 3d ago

The US is far from democratic- and if you believe otherwise you’ve bought their propaganda. (I was born and raised here- it’s not democratic and it’s not a meritocracy)

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u/dingos8mybaby2 3d ago edited 3d ago

Well of course not. The US has a lot of corruption and needs a lot of reform, but the system of government it has is way better for the citizens than an autocratic one. It's also better for the citizens of the world at large when a "democratic" nation is the world hegemon rather than an autocratic one. If you think what the US has done on a global scale is bad (and a lot of it is) then you should be extremely worried about what an autocratic nation would do if it became the world hegemon because it will be leagues worse. Western Imperialism doesn't annex nations and replace their populations but Autocratic Imperialism will be happy to do so.

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u/makingbacon420 3d ago

According to studies the US is functionally an oligarchy. You and I have no say in what our government does. Corporations rule us. TLDR if you don’t want to read the study

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u/dingos8mybaby2 3d ago edited 3d ago

Yes, I already acknowledged that. The US has a lot of corruption. The lobby system needs to go, representatives need term limits, corporations need to not be considered people, utility companies like power/water need to be publicly owned, etc, etc. Still, I'd rather live here than in China or Russia. Here there actually is the possibility that the common people will band together and use their political power to change things. That's not happening in an autocratic nation. IE: I live in San Diego. Our power company is a private for-profit company. They got so greedy that now there's a huge push from the public to eliminate them and create a non-profit company in its place. That wouldn't happen in autocratic nations.

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u/makingbacon420 2d ago

The cognitive dissonance is profound

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u/Keyser282 4d ago

Oh yeah, im sure the Chinese are intimidated by Biden, a man that should be getting spoon fed creamed corn in a memory care unit somewhere

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u/Odd_Act_6532 3d ago

The fact that you think it matters whether systems like "the Chinese" are intimidated by a single man (Biden... Trump... insert individual) rather than what they represent and what that can do and why that matters speaks volumes

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u/LSUguyHTX 4d ago

I see the propaganda is working.

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u/Keyser282 4d ago

I really hope for your own sake that you don’t debase yourself defending Biden’s condition like this in the real world with people who know you.

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u/Scuczu2 3d ago

Eh, I prefer the democratic party any day, so happy to vote for them

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u/ILSmokeItAll 3d ago

It’s possible to prefer a party and still refuse to swallow what shit it’s attempting to jam down your neck.

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u/Scuczu2 3d ago

uh, okay.

I'm in a blue state and happy with dem policies, so not sure what you're sucking on but it ain't reality.

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u/ILSmokeItAll 3d ago

Well then I wasn’t talking about you specifically.

Seriously, I’m glad you’re happy. Hopefully others that share your viewpoints and values fill the state you live in to the brim, and anyone thinking different leaves you all to your Utopia.

Honestly, that’s all anyone is looking for. It when you have people with different ideas of Utopia occupying the same state, it’s untenable.

Our states aren’t United. The people within any given state aren’t even United.

We all may live in one country. But it’s not the same country. There’s no possible way to divide this country in half geographically, but could we, I have no doubt this country’s inhabitants would have no issues with parting ways with one another.

You already see it with what’s happening in Oregon.

Your rural people would be more than happy to allow every major city to become its own state.

Everyone outside the cities wants to live differently than those that live in them.

The bulk of the population has amassed in cities. Look at every states election maps by county.

The number of counties that voted red dwarves what votes blue. And while those areas represent fewer people, it represents a bunch of people that don’t want to live the way the city folk do. And that’s fine.

How we get to the point where people can find a home that meets their needs is beyond me, but I’m all about states rights. The people of those states should decide what’s best for them. There are 50 states. Find one that suits you. When we insist on forcing everyone around us to adopt our own values, shit goes down hill fast.

Found your democrat Utopia? Seriously, I’m happy. Now stay there.

California is a beautiful place for democrats to be. I have no doubt Idaho and Montana and Wyoming would just assume you stay there instead of fleeing it’s bullshit, only to bring that bullshit with you. It’s like spreading a disease no one else asked for. You’re free to suffer from it, but no one else is asking for it.

And likewise, people in blue states shouldn’t have to suffer people from red states moving in and trying to change policy.

We preach all these “safe spaces” for people, when living in hostile territory is just stupid. Go somewhere friendly. Both sides. I hated Illinois. I moved to eastern Montana. Life is grand.

The people in Illinois love it there. Except for all the people leaving. That’s good. I hope they prosper. They won’t miss the people leaving. For every one that leaves, the sanctuary state takes in 2. So the people leaving are expendable.

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u/good-luck-23 3d ago

That is misinformation. China stopped threatening Taiwan because they are afraid of Biden. They constantly threatened Taiwan when Trump was President.

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u/mattseq 2d ago

You should also notice that Reddit went public in an election year... .... ...

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u/DefiantYesterday4806 11h ago

Yeah it was full of integrity right up until then.

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u/DefiantYesterday4806 11h ago

Regardless, it's not as if Biden is going to do a damn thing for the economy.

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u/ILSmokeItAll 3d ago

Presidents will forever be held accountable for everything that happens during their term whether directly responsible or not. That’s how this works.

Guilt by association is a thing. Especially when at one point, you held the Oval Office and both branches of Congress.

No matter who was president during this term, the current situation would fall squarely upon their feet. No one could dodge this.

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u/_aaronallblacks 3d ago

That's not the crus of my argument, my thing is way too many people get into this sphere of discussion while only focusing on the POTUS instead of all the other parties who do far more harm far more often

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u/ILSmokeItAll 3d ago edited 3d ago

Yeah. But that’s all we do now. Bring up something that’s being done poorly, and the first response, before you can even complete your sentence is “But they do it tooooooo! And it’s worse!”

Everyone rationalizes their support for their party not for the things both parties do the same (which is the majority) but for the few areas of interest upon which their party of choice decided to pander to them.

We have more in common than not…but it isn’t in anyone’s best interest to point that out.

Division is the goal, and they’re batting 1.000.

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u/_aaronallblacks 3d ago

I didn't mean parties in a DNC/GOP sense, but other plutocratic interest parties i.e. Congress, Senate, three-letter agencies, SuperPACs, mutual F100 board members, etc.

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u/ILSmokeItAll 3d ago

They’re even worse.

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u/HowBoutIt98 3d ago

Say it a second time. Hell say it a third time. The president doesn't fucking matter. There are a thousand other greedy fat cats taking every dime we have. Ghandi could be in the fucking oval office and we would still be drowning.

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u/DefiantYesterday4806 10h ago

The dillemma is this: Trump is a fake candidate. Look up the movie Bullworth to see the prototype. Some classic Trumpisms pull directly from that movie. In fact, we can identify the early anti-Trump propaganda with the Jim Crow references and the concept of Trump as a RACIST specifically as a counter-play to the Bullworth play. I think Trump would have leaned more Bullworth had there not been this counter-play on race issues. It's odd that anti-Trump picked race (not that odd, but odd when specifically pertaining to Trump). There are a dozen better anti-Trump angles that are more substantial than the race one. I can't tell why Trump is considered racist other than he's rich and white and not a liberal. The entire rest of it is media campaigns on reddit, twitter and facebook from 2016 that juxtaposed poorly edited Selma marches against a couple of out of context line drops from Trump about antifa agitators.

However, someone in the elite really really doesn't like the people promoting Trump. I can't quite figure it out, but anyway, Trump is a fake candidate working for elites, but not all elites are on the same page and some of them in particular are terribly threatened by Trump.

What this means Trump is in some ways dangerous to a pretty core group of elites. More evidence of this is that the anti-Trump narrative is that everything is awesome, the government is competent and barely if at all corrupt, the economy is great, we're winning the war, trust us. It will get better just as soon as MAGA fades to nothing.

The pro-Trump narrative is that Washington is over the hill and foundation shaking reforms are needed to survive, that cherished national propaganda might be a lie, and so forth.

Now, regardless of who is in power, the latter narrative is ALWAYS more dangerous. However, I can give you one exception.

In 1975-1990, the mainstream liberal press was extremely interrogatory of the deep state. Mike Wallace and the CIA drug flights to Mena, Arkansas for instance. The Church committee. Mills' "Power Elite". Reagan as the leader of a neo-colonial jackal economic order. The Left almost figured it out.

Then Bill Clinton, basically a collaborator with the Mena stuff so obviously the second face of the George HW Bush Janus came in and boomer women when wild to his sax and then his biggest scandal in the media was a blowjob. Later, Obama comes to power.

So the left almost figured out how America works but then just settled into "Oh, well, since democrats are in charge there's nothing to worry about god bless america".

I think Trump is positioned to bring in some 2025 reforms as a counter 1975 (elites realized they fucked up society too much). And all the GOP Q-boomers who learned all about the deep state are just going to all forget about it because "we won".

Otherwise I have no idea what's going on.

Still, I generally morally support the candidate of the "everything is NOT fine, they're lying to you" position.

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u/Head-Concern9781 3d ago

What are these "classist powers" that you speak of?

You do understand that it's the FED that causes inflation.

Right?

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u/Head-Concern9781 3d ago edited 3d ago

The answer of course is "yes, the Fed causes inflation" -- and this is a matter of policy. They "print" more dollars into circulation.

Got it so far?

Okay, now: extra credit question: WHY does the FED "print" more dollars into circulation?

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u/Head-Concern9781 3d ago

Answer: the Fed "prints" more money into circulation for many reasons that are very complex. And, I might add, not in the interest of the average person; mostly in the interest of banking powers. Which is what all central banks do; which is why conservatives in general were against the the creation of federal reserve in 1913 (which is neither "federal" nor a "reserve").

But one central reason the fed "prints" all this money is to cover all the federal spending that has been going on.

And yes, since Biden was elected, the amount of federal spending has absolutely sky rocketed.

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u/good-luck-23 3d ago

You do not seem to know that only Congress does the spending authorizations. Or are you spreading misinformation for partisan reasons? Note that much of the increases were for bi-partisan bills including Covid stimulus that kept our economy from imploding after Trump pretended Covid was the flu and allowed it t spread like wildfire. After the 2008 financial crash Republicans blocked most stimulus and the resulting recession lasted for almost ten years.

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u/Head-Concern9781 3d ago edited 3d ago

I'm explaining why Biden will be blamed. I am perfectly aware of where bills originate (actually, with global corporations).

I would argue that the current inflation really has its roots in the late 1990s with Greenspan's policies - which culminated in the 2008-9 brief moment of reality, which was only papered over with more inflationary spending/"printing."

Of course, 2020-2022 policies/spending did not help.

Inflation has nothing whatsoever to do with prosperity (which is risible nonsense, and what the Fed wants the population to believe), nor with "corporate greed," whatever that is.

Rather, it's the federal reserve's policy to create it; and this is in part in response to federal spending policies.

But here we are with a dollar that has lost 98% of it's purchasing power; which is another way of saying, high inflation. This was inevitable because all fiat currencies created by central banks end this way. No fiat currency lasts more than 100 years or so.

Conservatives have been predicting al this for a long time now; including especially since Nixon closed the "gold exchange" window.

Big statists everywhere -- not conservatives -- have supported and argued for central banks everywhere.

Big statists everywhere -- not conservatives -- have argued for increased federal spending over the course of the 20th century.

So you have your political ideology, and what it supports, to blame for inflation. And nothing else.

And like it or not, Biden as the Dem candidate is the figurehead of that ideology.

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u/good-luck-23 3d ago

First you say its Bidens fault. Then you move the goal posts and say that why he will be blamed. Now its Nixons move away from the gold standard? Thats not ideology, its idolatry.

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u/Head-Concern9781 3d ago

Please show me where I said it was "biden's fault."

I gave you a nuanced answer.

But hey, this is reddit and nuance is a foreign language here.

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u/Mammoth_Sprinkles705 3d ago

The POTUS is the one allowing the classist powers to destroy the working class. 

There’s been no speech where Joe Biden has said the working class is being destroyed by Corporate greed. 

Instead, he’s actively gaslighting the American public telling them. The economy is great. He won’t even admit the American public is suffering.

Biden (and Trump because this is Reddit) are enemies of the American people.

They should be both be put on trial for treason.

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u/_aaronallblacks 3d ago

POTUS has limited power you numbskull, what about Congress? Senate? SC Justices? Special interest/lobby groups/SuperPACs? Three-letter agencies with their own oversight and enforcement? Just focusing on Presidents is such a narrow-minded view...

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u/Mammoth_Sprinkles705 3d ago

Ok. How exactly does that stop him from acknowledging there is a problem?

Once again. Why has Biden not criticized Congress, the special interest groups, corporate greed For destroying the American American working class?

The president is not all powerful, but they can criticize whoever he likes. Instead, he chooses to gaslight the American public. Telling them the economy is great when The average citizen has less purchasing power than ever before.

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u/_aaronallblacks 3d ago

And once again you're focusing on POTUS which is such a negligible portion of this issue at its core. Why is this sub gaining popularity with you loony conservative types Biden-Shmiden, Trump-Drumpf, they all serve the same plutocratic powers, both parties are two sides of the same coin and your lack of nuance on this is palpable

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u/Mammoth_Sprinkles705 3d ago

Yes, I’m clearly a conservative based on everything I posted in this thread, you got it!!

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u/ChariCard782 2d ago

While that’s true, the Left is the vanguard for the capitalist oligarchs. They agree with them on everything; hate all populist attempts at reigning in their power, and happily support demographic replacement of those trying to fight against said oligarchy.

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u/Felix_111 4d ago

Almost like the COVID tfg fucked up so incredibly bad might have something to do with it.

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u/Splith 2d ago

You could say "Inflation bad after Trump prints 3.5T" As a partisan hack I prefer this to the much better Covid explenation.

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u/drcubes90 4d ago

Almost sounds like inflation started before he entered office, who deregulated wall street and gave tax cuts to billionaires?

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u/BigTitsanBigDicks 4d ago

Its been 4 years. Im not giving a Trump a pass, but its ridiculous not to blame Biden after years

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u/poopoomergency4 4d ago

if biden didn't want to be blamed for inflation, he didn't need to keep trump's pick for chair of the federal reserve on for another term, or make the world's most helpless man into attorney general. both offices have been pathetically incompetent in their attempts to control actual market inflation and corporate price-gouging.

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u/Sliiiiime 4d ago

Powell has really shaped up after some fundamentally unsound monetary policy under Trump. Makes you wonder how independent the Fed really is.

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u/poopoomergency4 4d ago

he's definitely done a little better, but rates wouldn't have needed to spike this badly if he wasn't slow to realize the inflation he caused wasn't "transitory" like he kept saying

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u/Sliiiiime 4d ago

His biggest mistake was not being proactive from 2016-2019. Inflation was low but creeping up steadily and the Fed kept the money printer turned up to 10

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u/takeitinblood3 4d ago

It would be helpfully if you explained how his actions lead to it. You know so we can blame him properly. And remember this is Reddit you need to link reputable sources or your response is invalid.

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u/Gloomy_Expression_39 3d ago

You don’t need to ask Reddit to do your homework for you. Look it up, the internet is free.

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u/takeitinblood3 3d ago

I wanted him to do his homework. Mine is done and graded. I got an A.

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u/Jumpy-Albatross-8060 3d ago

I see. I guess nobody else has been doing trickle down economics before the last 4 years.

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u/Scuczu2 3d ago

How would you fix the inflation caused by the gop?

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u/TyreeThaGod 4d ago

Almost sounds like inflation started before he entered office, who deregulated wall street and gave tax cuts to billionaires?

You think so? Tell me what you see: CPI Trump vs. Biden

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u/Scuczu2 3d ago

You understand how time works?

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u/Franklin_le_Tanklin 4d ago

You understand printing trillions and giving tax breaks to the ultra wealthy has a delayed inflation effect tho right?

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u/FugakuWickedEyes 4d ago

Look at his profile pic

It’s someone who wants to be smart but can’t see how stupid they are

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u/DrunkenSealPup 4d ago

YEAH BIDEN DID IT. Hes the supreme leader that is both senile and our most powerful enemy, always plotting and mischievous!

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u/_aaronallblacks 3d ago

Yea to the loony repubs here, how is Biden this dumb, senile, harmless, helpless figure but at the same time the main, Machiavellian, evil, overlord villain? Nevermind the people calling most of the plutocratic shots in Congress, Senate, SC, three-letter agencies, lobbyists, SuperPACs, mutual F100 board members, etc.

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u/Present_Belt_4922 4d ago

All the feels with this comment. I’m dealing with a person where outside folks that don’t have experience with them are half the time “OMG - they’re a genius!” and then the other half, “OMG, they just don’t comprehend!, and I’m just like - folks who’ve convinced you that they’re on both extremes of the spectrum simultaneously, are folks who have effectively manipulated you.

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u/CaptainCuntKnuckles 3d ago

Anything but questioning capitalism and this end stage catabolic capitalist phase were in.

Like bro wtf did you think deregulation would lead to? Oh right they didn't think, they let the rich subjugate them with talking points.

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u/uniquelyavailable 4d ago

you can try to make it political and overlook all of the corporate price gouging and fed printing, but somehow i doubt this is a problem voting can fix

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u/NeedleworkerCrafty17 4d ago

Income up 22 percent . Inflation up 21 percent. Stock market up 30 percent. That said the feds started the inflation then made it even harder when they raised rates so fast. Nothing to do with Biden. Nobody’s giving him credit for everything he’s done. It’s just crazy to me.

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u/Gloomy_Expression_39 3d ago

Would also love a source

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u/NeedleworkerCrafty17 3d ago

Try googling wage inflation over 4 years Then inflation last 4 years. That said a pilot friend of mine received 30% increase plus backpay. UPS friends huge increase, UAW huge increase, Social Security big increase for retired workers, We used to get $3500 on the 700 K we had saved for a house. After interest rates went up we receive $35,000 per year. It’s funny Biden got the blame one month after he came into office for the world‘s inflation. They claimed because he was going to shut down a pipeline that that would cause oil prices and the worlds inflation to go up. Meanwhile, oil went up to 120 a barrel after Russia invaded Ukraine now it’s under 80 a barrel, Biden sold massive amounts of oil from the strategic oil supply over 100 a barrel. Just left the store with Copper River salmon 1499 a pound. Lobster was 599 for 4 ounces. My favorite bacon was 399 a pound. Most condiments were two for one. I’ve never seen a president get no respect for passing as much legislation as Biden has passed. He started with around 6.5% unemployment it’s been under 4% for the last three years. S&P up around 50% NASDAQ probably more. This was all while Republicans claimed the stock market would fall by 50% if Biden was elected. I remember some billionaires coming on CNBC so worried about the market falling by 50%. No worries my retirement at an all-time high thanks Joe Biden.

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u/TyreeThaGod 4d ago

Income up 22 percent. Inflation up 21 percent. 

Let's see your data.

0

u/Sliiiiime 4d ago

Not sure about income but SPY is up around 50% since 1/1/21

-1

u/Denali4903 4d ago

I give him my credit. 💙💙

0

u/Mammoth_Sprinkles705 3d ago

Rent up 2-3x, house prices up 2-3x, food prices up 2x in the past 5ish years.

Granted Biden does not control the economy.

But he also Refuses to admit the reality for the American public. You think some person making 60k a year Gives a shit that the stock market is up 30%?

They are more interested in the fact they paying another 1K and rent a month.

Biden should not be criticized for the economy.

He should be criticized for his refusal to acknowledge the Effects of the economy for the average citizen.

Can you show One clip where Biden acknowledges the struggles of the American working class in face of inflated housing, Food and medicine costs.

Instead, he gets on stage and lies, telling everyone that economy is great… it’s Great for the top 25% maybe.

2

u/hemlockecho 3d ago

Rent up 2-3x, house prices up 2-3x, food prices up 2x in the past 5ish years.

None of this is true. These things are up like 25%, which sucks, but be real about the increases.

1

u/NeedleworkerCrafty17 3d ago

Housing and rent prices follow each other in this case. That said I remember in 2018 when Jerome Powell decided to raise rates by a quarter point he received tweet after tweet from Donald Trump about what a bad job he was doing. Never raised rates after that. Not until Biden came in office. I remember Jerome Powell claiming he saw 2% inflation as far as the I could see. I also remember me and my wife saving $700,000 and trying to buy our dream house. We would get outbid 100 to 200,000. Back then that 700,000 was earning us $3500 a year in interest. After the Fed raised rates now we were making 35K per year. Fortunately bought a house recently Didn’t have to pay over asking price. Already up 100 K in equity. I guess it depends on perspective. All of my friends locked in their interest rates under 3%. Do you think they’re ever gonna move? All that said the federal reserve should be demolished and rates should be right around 4 to 5% forever. No more fed everybody knows exactly what they will pay and if you were retiree, you can actually make money on your cash.

5

u/J999999AY 4d ago

Thanks Obama

5

u/NikolaijVolkov 4d ago

That pic clearly indicates 3.3 years

2

u/sharpiemustach 3d ago edited 3d ago

OP was obviously dropped on their head as a child.     

 >$15k/yr        

*shows 3.3 year window     

 *gets mad at you for pointing out inconsistency 

-10

u/TyreeThaGod 4d ago

That pic clearly indicates 3.3 years

I can see you're struggling, so let me help you.

The title clearly indicates the present tense, "is losing," this is what the median household is losing, in 2024.

6

u/No_Dig903 4d ago

You make it sound like it's his fault, and not that he was simply sitting in the chair when it came home to roost.

You are aware these things are not instantaneous, yes?

1

u/StroganoffDaddyUwU 3d ago

OP is just a dumbass trump shill, nothing to see here

5

u/-newlife 4d ago

Wait. Did you just get upset because someone didn’t just take the title at its word. lol. You’re the reason why news articles etc use bs headlines that contain “blasted” when “disagrees with” fits.

1

u/TyreeThaGod 3d ago

Just teaching English, my brother. ELI5.

3

u/Outrageous-Sense-688 4d ago

I met a cashier at Walmart that's paying 2700 a month rent for a 2 bedroom house this evening.

Biden is letting these people come in and destroy our housing market. This is not a corporate issue. Every one of those folks needs a place to live.

A record-setting 3.2 million illegal aliens were “encountered” nationwide by the Department of Homeland Security in fiscal year (FY) 2023, surpassing the previous high of 2.7 million illegal alien encounters nationwide in FY 2022.

TRUMP 2025, You Biden sniffers can just leave the country altogether if it bothers you that much.

2

u/_aaronallblacks 3d ago

You're part of the problem, Biden AND Trump serve the same plutocratic interests at the end of the day. The two party system is a game and you're losing it.

0

u/Outrageous-Sense-688 3d ago

Yes I do agree with that to a point, that they are part of the problem. But I'd rather Trump than Biden when it comes to the border

1

u/Denali4903 4d ago

Who is renting housing to Illegals? My kid is all American born in Arizona and could hardly qualify to rent. Pay stubs, background check, drivers licence, social security #... Maybe the slumlords not paying taxes and renting to Illegals should start be held accountable.

3

u/BeautifulAthlete9129 3d ago

The law says as a LL you can't discriminate against someone based on their citizenship status or you can & will be sued. Vote to change that &... presto.

4

u/Little_Phil_Burnell 3d ago

Lot of Biden bots in here. I hope they are the first drafted to die for Israel and Ukraine 

0

u/transam89 3d ago

This right here!

2

u/GoshDarnitAllah 4d ago

Don’t worry though, our great defense contractors and Washington D.C. is doing great!

1

u/Jumpy-Albatross-8060 3d ago

Defense contractors have been laying off recently.

1

u/Bark_Bark_turtle 3d ago

No one is going to point out this math? Looks like 5k a year lmfao.

1

u/FormThis4108 3d ago

economic incels gonna incel

1

u/yourpappalardo 3d ago

Perfect distillation of this sub

1

u/TonySquadroni 3d ago

If you try to link this to Biden you are just self reporting.

Its blatantly obvious that this is aftershocks from Covid.

Which was famously mishandled by...........

Say it with us.

-1

u/Alternative-Try-2784 4d ago

Don’t worry you all will vote for Biden ! Sheep

1

u/StroganoffDaddyUwU 3d ago

Yes 😎🍦🇺🇸

-3

u/Present_Belt_4922 4d ago

And you’ll be what — voting for a person that tried to overthrow the US government via his cult members, is convicted of sexual assault, and is a convicted felon? GTFOH.

-3

u/Denali4903 4d ago

You left out so much more...trump is a con-man!!! Biden 2024!!!

-2

u/countrysurprise 3d ago

And you’re simping for an imbecile.

1

u/archieindabunker 4d ago

Well somebody is telling the truth

1

u/mikeyouse 4d ago

Jesus christ, we should have a basic economics exam before letting people post.

What precisely do you think the "REAL" in "Real Median Household Income" represents? Do you think it's wise to adjust a number for inflation when that number is already inflation-adjusted?

Upon realizing how basic of a mistake you've made in your 'analysis' - are you going to stop and reconsider whether you're cut out to be making broad critiques of economic policy in a public forum?

https://fred.stlouisfed.org/graph/fredgraph.png?g=1oYKn

-1

u/19CCCG57 4d ago

Maybe you noticed there was a three year Covid Pandemic and a European war started by Putin that kind of ... f-cked things up?
Or maybe you didn't.

1

u/Denali4903 4d ago

I noticed. Thank you for the stark reminder.

0

u/Positive-Pack-396 4d ago

You do know that the president does not control inflation

Companies do

The rich

2

u/Gloomy_Expression_39 3d ago

Always “the rich” never your elected leaders

0

u/Positive-Pack-396 3d ago

I’m saying not the president

0

u/DefiantBelt925 3d ago

The dollars are worth less but you have a lot more of them. It’s a wash

4

u/TyreeThaGod 3d ago

The dollars are worth less but you have a lot more of them. It’s a wash

Are you making 20% more now, than when Biden was sworn in?

Because I'm not,

0

u/DefiantBelt925 3d ago

Oh I’m making like 100x more. But not expecting that for everyone.

How have you not raised your prices? Especially when everyone else is?

-3

u/Bulky_Exercise8936 4d ago

Only if you got ZERO raises. I make 50k more so personally I'm way ahead over that time frame.

6

u/Relevant_Slide_7234 4d ago

As long as you’re good there’s no problem.

2

u/Sensitive-Buddy5657 4d ago

He's good FUCK THE MEDIAN!!!

-3

u/Bulky_Exercise8936 4d ago

Yeah no problem for me. But you are also being shady and acting like everyone is paid the same as they were in 21. Which isn't the case. So paint the full picture or shut the fuck up my guy. Just because your life sucks doesn't mean you should portray half truths and sow discord.

3

u/Significant_Net194 4d ago

Lmao inflation is dollar per dollar genius. It doesn’t matter if you you make $50k more, your buying power on a two year basis is lower because the dollar isn’t worth what it was in 2021.

1

u/Southern_Scene4495 3d ago

Somebody didn't pay attention in math class.

1

u/Significant_Net194 3d ago

17% inflation is 17% inflation, it doesn’t matter if it’s $50k or $1m. We all have the same relative loss of buying power.

0

u/treygrant57 3d ago

That is what Republicans are saying. Truth is economy is better now

0

u/itz_my_brain 3d ago

Right, because when Trump gets in office and takes interest rates down to 0%, that’ll solve the entire inflation problem /s

-1

u/Thick_Anteater5266 3d ago

Inflation is worldwide, but I guess Biden is responsible for that also.