I am drastically better off, but it has much less to do with who was president and much more to do with the fact that the uniparty chose to flood the economy with free credit and trillions of dollars in stimulus money, most of which flowed upward into the hands of the large cap overlords that govern my professional existence.
NBC News: Are you better off than you were four years ago?
- Thread starter alaskanseminole
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This is a talking point from the Biden Administration. Well done soldier. Telling people they are better off even though their bank accounts would say otherwise.People with assets have been killing it over the last 4 years primarily due to the stock market and real estate prices. Thousands if not millions of business owners took advantage of the PPP programs to line their pockets as well.
People without assets struggled for a couple of years because of inflation, but unemployment has been basically nonexistent for the past 3 years and over the past 2 years wage growth has exceeded the rate of inflation, particularly in the lowest wage groups.
Fastest wage growth over the last four years among historically disadvantaged groups: Low-wage workers’ wages surged after decades of slow growth
In stark contrast to prior decades, low-wage workers experienced dramatically fast real wage growth between 2019 and 2023, but many workers continue to suffer from grossly inadequate wages and middle-wage workers face significant gaps across demographic groups.www.epi.org
All in all Americans are probably better off, whether they believe it or not.
I know that's how many of you see it. That's why so many aren't honest. It's a political hack thing.
I must have missed those. I'm actually able to think for myself. You should try it sometime. There's a whole world outside of FoxNews and One America.
Presidents take credit and receive blame for the economy Tom. It is what it is...
Financially I'm certainly better off than I was four years ago. My real estate holdings are up significantly, as are my liquid investments (stocks, bonds, mutual funds, etc., including retirement accounts). I don't have a great deal of debt, but what I do have is four years of principal payments lower. As far as unrecorded debt...stuff I know I'll be paying for that is not a legal debt...four years ago my oldest son was about to start his senior year in high school, so I knew I had upcoming the expense of paying for two kids' college. Now the oldest is finishing up his junior year & should graduate next spring, and the younger has one year of college out of the way. My business is doing well; thanks to various government programs that I learned well to assist clients, the covid period was extremely profitable, and even with those programs now gone, the current year to date has been more profitable than any year to date ever (excluding the two crazy covid years).
Personally/physically, the sun is the same in a relative way, but I'm older. Shorter of breath, and four years closer to death.
Personally/physically, the sun is the same in a relative way, but I'm older. Shorter of breath, and four years closer to death.
Yes. Retired on a pension. Just bought a (used) Bronco Sport, Nikon D4s SLR camera.
Live moderately but living what years I have left with enjoyment and pleasure.
Live moderately but living what years I have left with enjoyment and pleasure.
Congrats.
We don't see eye to eye on much but making it to retirement is a hell of an accomplishment. Fair winds and following seas sir.
So, did millions of people listen to him and go drink bleach? I kind of wish some had. 😉
My wages are up and offset inflation, but I am working less hours per week that I was, so, overall my disposable income might be down a bit. But I would say I'm better off because I was working way too many hours.
My profit sharing is also down some, but that is because they restructured how it is paid out.
For the first time in years, I'm going to be able to kick back and enjoy college football on Saturdays will little fear I'll be working. I'm loving that.
Now, I also will add, that we went through a global pandemic. We printed trillions in stimulus payments to keep the economy from crashing. This was mostly necessary. There was only one direction this could possibly go and that was with inflation. We printed money which devalues the dollar. We also had serious supply chain issues. We had too much money chasing too few goods.
We were facing inflation no matter who was in the Whitehouse. Republicans have latched onto this because really, it's all they have. They can't run on Trumps job record, the can't run on his trade deals, he got his ass kicked, that can't run on his crime rate, it was much worse. They do have every right to try to run on the southern border up to the point where they blocked the bipartisan border bill.
People will listen to whatever supports their preconceived beliefs. The facts really don't matter.
My profit sharing is also down some, but that is because they restructured how it is paid out.
For the first time in years, I'm going to be able to kick back and enjoy college football on Saturdays will little fear I'll be working. I'm loving that.
Now, I also will add, that we went through a global pandemic. We printed trillions in stimulus payments to keep the economy from crashing. This was mostly necessary. There was only one direction this could possibly go and that was with inflation. We printed money which devalues the dollar. We also had serious supply chain issues. We had too much money chasing too few goods.
We were facing inflation no matter who was in the Whitehouse. Republicans have latched onto this because really, it's all they have. They can't run on Trumps job record, the can't run on his trade deals, he got his ass kicked, that can't run on his crime rate, it was much worse. They do have every right to try to run on the southern border up to the point where they blocked the bipartisan border bill.
People will listen to whatever supports their preconceived beliefs. The facts really don't matter.
That’s good. I guess at my age, I’ve reduced my equity holdings quite a bit from my younger days, so that a big stock market correction won’t impact me as much.
Financially I'm better off than 4 years ago but it has nothing to do with Biden or Trump. Has to do with a series of promotions...
I’d be a hell of a lot better off if I’d just stayed retired. Instead, here I am on a conference call at 6:30am reading the dog shit on HORT to pass the time.
Yep. The difference is that you guys think Biden somehow triggered the rise in inflation that started in 2020 and like to ignore the fact that inflation has come down quite a bit from the peak in 2022.
I still see Trump supporters referring to "all time high inflation". They also think unemployment is high and that the stock market is "crashed".
Same. I realize that not everyone is better off, especially people on the lower rungs of the economic ladder who have little assets and are most susceptible to inflation.
That's the thing. Lower middle class on down are the ones wrecked by high inflation and interest rates.
Fortunately I'm not in that category.
Your demonstrating your ignorance once again. The rate was at that level From Dec 21 - Nov 22.
And the comparison was about very conservativve investments, such as CDs, making significantly more than inflation for some time now.
What these guys don't realize is that we had inflation between 4 and 10% during all 8 years of Reagan's time in office, and GOPers back then thought it was a great economic period.
Had a little something to do with the crap economy he inherited. There's a reason Reagan won in a landslide...
It was 12% in Jan 1981....interest rate was at 19%.
I lost about 25% of my “retirement” under Junior (2008) and about 20% of it from when Trump was President (2020) …thankfully I was able to make up these losses under Obama and Biden.. and please tell me that rising prices were not an issue under Junior and Trump.. I noticed them…and under Obama and Biden, there never was the promised “recession” that we Democrats were promised by our friends on the right.
I didn't say he was responsible for it. But we had 8 years of high inflation and the sense back then was that all is well. Compare that to Biden having high inflation for a much shorter duration and "some" claim it's the worst economy in our lifetimes.
How can one actually say that? Were they just born yesterday?
It was over 4% in 1987 and stayed at that level, and a bit higher, throughout the rest of his presidency.
The inflation that originated under Carter was receding during the bulk of Reagan's time in office,.. Hence Carter = Bad, while Reagan = Good,... History demonstrates that when you create the inflation it's yours forever,.. This is Biden's inflation.
Well, the four that’s laughing on this post are pathetic to think any different. It’s not debatable at all but these four clowns laugh. These four have no credibility. They need to go to work for MSNBC. Freaking idiots.
Inflation was under 2% for a short time in Reagan's tenure but quickly went back to 4% and higher. That must be Reagan's inflation, correct?
Go cross reference the people that are "better off" and the people who tried to act like Tim walz having 1 million dollars in assest ( if he gets an 800k pension from serving until he is 65) was a good thing.
It's damn near a perfect circle.
Here is the real world, if you can't say definitively that you are better off, you lost 4 years of growth, there is no point in life where you should be "worse" even if it means you traded assest for years of relaxation.
Was that the one where you didn't know the difference between a pension and a 401K?
You're a dumb shit on many levels.
Recency bias.
We had an unusually long period of low inflation and low interest rates.
Presidents take the credit for the good and get blamed for the bad in an economy. That's always been the case...
What "recency bias"? Reagan was 40 years ago. His economy, after having low inflation, went to over 4% and that was considered to be successful. Biden inherited a similar inflationary economy and has it down to 3% yet you and others want to deem the economy terrible. That makes no sense.
JFC
Inflation was 1.4% in January of 2021 and 12% in Jan 1981. How that F is that remotely similar?
By "recency bias" I meant nobody had experienced 9% inflation in over 20 years so it left a mark.
The only person "not making sense" is you.
Current US Inflation Rates: 2000-2024
The annual inflation rate for the United States was 2.4% for the 12 months ending September, compared to the previous rate increase of 2.5%, according to U.S. Labor Department data published on October 10, 2024. The next inflation update is scheduled for release on November 13 at 8:30 a.m. ET...
www.usinflationcalculator.com
The economy was primed for inflation and it was going to happen. You know that but you willfully ignore it.JFC
Inflation was 1.4% in January of 2021 and 12% in Jan 1981. How that F is that remotely similar?
By "recency bias" I meant nobody had experienced 9% inflation in over 20 years so it left a mark.
The only person "not making sense" is you.
Current US Inflation Rates: 2000-2024
The annual inflation rate for the United States was 2.4% for the 12 months ending September, compared to the previous rate increase of 2.5%, according to U.S. Labor Department data published on October 10, 2024. The next inflation update is scheduled for release on November 13 at 8:30 a.m. ET...
The "recency bias" is you deflecting from the point being made about the Regan economy being touted as great while the Biden economy being called terrible by the right wing propaganda that you consistently fall for.
The only way "recency bias" makes sense is in reference to the past and admitting that inflation can happen in good economies.
Just admit that comparing 1.4% inflation to 12% was beyond stupid. Some would say moronic but I'm trying to be nice
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