So very much all of this. Just because corpo America, the 1% and the fake numbers stock market are doing good means nothing for the average American.

Our wages are stagnate. Our healthcare either kills you or bankrupts you. Our housing is prohibitively expensive. Our food is to expensive to eat. Our education system doesn't educate and is slowly privatizing. And our police are killing us in lieu of protecting us.

But we've got guns for tot's, piles of dead school children, an insurrectionist running for president, insurrectionists in congress facing zero consequences, a fading separation of church and state. Rising hate crime numbers. And a corrupt Supreme Court openly accepting bribes to destroy democracy.

Yeah Joey everything is sunshine and rainbows.

Economy Good: The majority of people work their asses off to make a handful even richer.

Economy Bad: The majority of people suffer even more so the handful of people does not have to suffer a bit.

Maybe is Maybeline

Or

Maybe is that the wealthiest 10% of Americans own 89% of all U.S. stocks

it’s a zero-sum game and most Americans are losing so rich fucks can have their “good economy”.

That does seem to be what his rhetoric is pointing at:

“But for all we’ve done to bring prices down, there are still too many corporations in America ripping people off. Price gouging, junk feeds, greedflation, shrinkflation,” Biden added.

Polling suggests this is not the case. In December there was a poll of swing states that showed the people were split 50/50 on whether what they saw in their own lives, their local or city economy, was heading in the right direction but when asked about the national economy, something they have to rely upon the media for rather than their own experience, only 1 in 4 thought things were heading in the right direction. People are constantly fed negative economic propaganda but don't see it in their own communities so they assume it's happening everywhere else.

On the contrary, the fastest growth in real income right now is among those in the lowest quintile. Which means income inequality is actually decreasing for the first time in decades.

Fund the welfare state for god's sake.

Not gonna happen; why do you think they sacked Bernie twice in the primaries?

#1 I am inclined to agree I just bought a crummy cottage because I couldn't afford rent

#2 I agree they are selling affordable EVs in China, but they are under tariffs, and nobody else is selling really affordable basic cars

#3 I kinda disagree.. Granted I really only shop at places like Aldi/Walmart because standard grocers are very pricey. Prices aren't all that bad overall.

Wait until you read about how shitty our tax law is for people spending most of their money on HC costs. sigh

My wages did go up a little, but not enough to help me out of the hole I'm in with everything else going up (rent, groceries, etc.). Gas prices have gone down, but not by a lot, at least not for me in California. Why are prices still at like $4.30/gallon when we're pumping more than ever out of the ground and plenty of supply? Why didn't it go back down to like $3.50? Is this just our new baseline? Why?

Everything is like that. I feel like I'll just end up dying of poverty if we don't actually gain some consumer protections to limit how much companies to upcharge on literally everything, and ban companies or internationals from buying up properties. At this rate, I feel like I'll struggle this hard forever and never be able to buy a house unless I move somewhere super shitty without actual rights for women.

One of the richest countries on Earth. SMH

I’m in a similar spot as you. Doubled my income over the pandemic (though I got laid off in December), bought a house at 4.99%, and moved to a slightly lower cost of living city that’s still in range of Seattle.

I’m mad for all the same reasons.

This is a very good synopsis. I, too, have an experience similar to yours, and while I don't feel it in my bank account, I see Republicans, Fundigelicals, and Conservatives being allowed to run amok and cause all kinds of localized damage. It does not feel good to know that businesses are currently getting away with greedflation, churches are getting away with tax fraud, and Conservatives are successfully robbing the government via fraudulent PPP loans and school vouchers.

The Biden Administration might have a general handle on the economy, but they still seem to be operating under the illusion that the above groups have some basic decency and decorum. And it's that "boys will be boys" attitude towards them that makes a lot of people worried about the future, in spite of economic improvements.

I really wish we could get universal healthcare in this country. It is just insane I spend $5k on health insurance that I never use because I'm afraid a visit to the doctors is going to result in some stupid high bill that for some reason united healthcare will weasel their way out of paying.

Yo I am in the exact situation and mindset you are. I got really lucky in regards to jobs, buying a home, and living in a low cost area. I do have a ton of recent medical debt because I broke my ankle and leg and needed surgery to fix it. I was off of work for 3 months so shit sucked for a while. I'm paying back my debt with $5-$10 a month because they can't do jack shit if it looks like I'm attempting to pay. These fuckers don't deserve more than that.

Forget whoever is president, there’s a snowballs chance in hell that 99% of the house or Congress would ever let such legislature be heard, never mind actually be voted on.

I don't think that's a starter. I think that's a grand paradigm shift that while it would no doubt be a great boon would not be easy or quick to implement.

Universal Healthcare, UBI, climate resolutions, voting reform, SNAP expansion, increases to minimum wage, etc. would be easier, quicker, and compound with the improvements of employee ownership. So I'd call those starters, even if they're not as effective.

Because the people running CNN are part of the root cause, and they'll be damned if their readers figure it out.

It's disconcerting that someone elected to represent me doesn't see that.

He's a wealthy career politician in his 80's I'd be surprised if he wasn't out of touch with the vast majority of the population. I certainly didn't vote for him in the Democratic primaries, but he's much better than the alternative.

Edit: I really should read the article or at least pay more attention to what website the article is on.

I can't access articles on CNN.com because they block me for blocking ads. I'm over here commenting as though I know what the content says but I bet I'm right in my assumption.

I was getting by paycheck-to-paycheck-ish at my last job, worked on some skills, learned some new things, and got a new job that pays a whole lot more. That was 3 years ago, and inflation has put me right back where I was. I heard all these things over the years about "climbing the ladder" but this feels more like trying to climb the down escalator. I'm putting in the work, and doing everything I'm supposed to do, but I'm not getting anywhere.

I make less than I did 20 years ago plus now I have three kids. I can barely afford to eat.

When they said "wants to know" what they really mean is "want them to shut the fuck up about it so we can continue to fuck them harder next time!"

How many times have you job hopped in the last four years?

It's literally their goal. The new CEO said as much.

There's a quote that I have to paraphrase because I can't find it again, but he basically said "Fox news is actually a wonderful model to emulate, they have actual news (I'm going to vomit) surrounded by opinion shows."

They want the same exact thing... To hide the journalism, and cater to the infotainment crowd that just want their confirmation bias drip... Now will it be catering to the right, the so-called center, or ...well not the left we know that much.

"Things are great and Biden is awesome. What's your problem?" — CNN

For a bit now it seems they are trying to cater a bit more to a wider audience, casting articles critical of current administration. Not that they should not criticize, but some articles have been as you said Fox2

There's always layoffs going on to some extent, overall the labor market has been great though. Unemployment has been consistently low, something like 14 million new jobs have been added over the past few years. The tight labor market has been pushing up the median wage, which is exactly what you want to see. We're basically at full employment and people are finally starting to see real wage growth that beats inflation. The layoffs recently get disproportionate media coverage because of who they impact (and for political reasons) rather their overall economic significance.

The article makes a misleading statement about inflation right off the bat. That it's at a three year low and that's a sign of good things.

But inflation doesn't work like that. This just means prices are increasing at a slower rate. Not that prices have gone down.

It was never a realistic expectation for prices to go back to what they were before COVID, but somehow that is what people expected.

You never want to see prices come down across the board because that causes deflation. Deflation can very easily spiral into a feedback loop of higher interest rates and higher unemployment.

Politicians: Record economy!

Businesses: Welp, time for layoffs! We were always at war with Eurasia.

Citizens: Do I vote for the status quo, ear plugged, blindfolded, ancient politician... or do I vote for a literal dictator, dumb as bricks, ancient "politician." Hmmm... Options options.

It's doing well for people who drive a beater car, don't buy a new phone every year, avoid eating out, etc. People who have money invested are earning returns in this economy. Ya'll don't have 401k's or investments?

But the the rich people's yacht money economy is doing well!

I often read from random people who live in some tiny ass apartments in places like NYC or San Francisco or wherever and spend like 3000 dollars a month in rent. Hell i know a guy in Toronto who tells me about his shitty ass apartment with no heat that just raised rent 400 dollars or some shit and ge already paid 1400 to 1600. How do people live like that? Genuine question, i spend 1600 a month but for a whole house and garden. Which is nothing in comparison, but i wouldn't mind spending less just to have more.

Jesus!!! I was bitching because mine went up 1000 over the last 10 years. Luckily my wife and were able to buy for what we were paying in rent. Hopefully nothing breaks though. 😕

I managed to not get a raise on rent because my landlord forgot that he's raising the prices. Last year he told me that he's raising the price. But when he sent me the invoice for this year, it's still last year's amount. Well, I'm not going to be the one who reminds him.

I mean, dude currently lives in public housing, what more do you want? (I kid)

Real wages have been growing in the past year, especially for those in the lowest quintile. In fact, there are almost no adults making the federal minimum wage any more.

You got to stop working? I just worked from home.

Getting back to those shitty jobs was inevitable. COVID was destined to downgrade to endemic status, and business owners being stuck in the 80s mindset of "grind in a cubicle until you die" is not Biden's fault at all.

Boom! Prices only go up, deflation is rare and of small consequence. So now what? Inflation's under control, and still dropping I believe, but as you said, WAGES.

OTOH, wages seem to have gone way up around here in the last 5-years. $15 was unthinkable for unskilled labor in 2019 (locally!), now it's close to the bottom of what one can expect. 2 people making $15 could just about make it in this town, except...

Housing is straight fucked. Between immigration, legal and illegal, the "inhouse" birthrate, corporations buying up housing and the AirBNB type owners, we can't handle this. Hell, in my lower-middleclass hood, we got lots of housing going up! And half of the units are duplexes, forever rentals. (Weirdly enough, they're very nice, but still.) For some reason, many of those projects suddenly stalled, started and stopped before the foundations were laid.

Taxes arent the problem.

Okay but did you read that the economy is doing good? Try reading it again.

At least three wars abroad where at least one side is targeting civilians :(

Fun times. /s

Too bad he doesn't speak poor

It’s theatre.

You think this fucker doesn’t have access to every economist and social worker to answer this for him? And what, not one of the people he’s asked has been able to give him the answer when he’s asked them?

The only way he cannot know, is that he chooses not to know.

"it's a start" dude has been in office for four years. That's pathetic.

The far right only seems untried to people who are utterly ignorant of history. Of which there are evidently a great many.

Nothing will fundamentally change?

Deflation is only bad because companies hold their employees (and customers) hostage to their profit ideal.

The main thing that's always touted as the main bad thing about deflation is that people are less inclined to spend money.

I don't know about you, but most of my money goes to essentials that I'm not going to just stop paying for. The only people that are going to stop spending money are the precious few with large disposable incomes.

Peace? Have you looked around?

I mean neither of those is a problem, the problem is that prices aren't adjusting to match.

But housing won't go down because it's become an investment, and cars won't go down because during covid manufacturers learned only selling expensive models increases profit margins.

If anything, high rates are good. They encourage saving and curb consumerism, which are both things Americans at large can use help with.

This doesn't matter and it's actually a good thing rates are going back up. Rates are still lower than they have been. The real issue is greed and pretending like it's inflation. Rent has gone up. Food prices have gone up. People are constantly laid off and there is no job stability. Employers now have the upper hand. All of this and wages have not increased.

Reaganomics is garbage and doesn't work. Taxes on the rich are at an all time low. The economy is doing well, but the wealth is not being distributed in the way that it should.

I dunno. I don't really think they're connecting it. All of the messaging I'm seeing is around "hey. We did a great thing. Why aren't more people cheering us on?"

Biden has just started to go after food gouging, but hasn't really done anything about companies like Black Rock buying up all the housing and jacking up the rental and real estate markets.

But who knows. It's messaging from the white house, so it may or may not be misguided.

The economy isn't measured based on the stock market. The closest factor might be GDP, but that isn't the only number that is used anyways.

By basically all metrics, the US economy is moving in the right direction. Its just in a really big pit on some of them.

Does that mean that you'll vote for Donald Trump or not vote and help Donald Trump that way?