Me personally I think the economy sucks because houses built for 150,000-200,000 dollars are going for a million right now, and I have to pay 1200 a month for a single bedroom and shared kitchen and that ONLY benefits the very high income landlords/real estate workers but yeah you might be onto something.
Hahahahhahahha!! 🖕
you suck. You’ll never own in CA. Go running, maybe you’ll make enough for that million dollar home. Chimp.
That’s cute. Million dollar home? My Colorado home is worth a LOT more than that. And my taxes are lower. This morning I did a beautiful run looking at the mountains at my nearby trails. Not a single homeless. I get a lot fitter than you at altitude, so a race wouldn’t be very close. With all the extra money I’ve saved by not paying California communist prices I bought some snowmobiles and a lodge. I’m sure you wish you had nice skiiing. I also bought a home in the Caribbean for getaways! Haha! Enjoy the freezing water and crime loser! Haha!!
What Biden’s policies did was erode middle class wealth. If you ever take Macroeconomics, what they will teach you is that increases in wages for the untrained / uneducated mostly result in inflation for everyone. And that has held true.
wages are already higher than pre-pandemic. There was a massive wage spike in 2020 because millions of low-wage workers where laid off during the pandemic.
If you focus on pre-2020 and now, you see that real wages are higher.
Do you have a job? Do you pay for your own groceries and other meals at restaurants? Do you pay for your own housing, transportation and insurance?
I'm not trying to be confrontational, because you seem intelligent. I'm wondering if you're a student?
Reality for most people doesn't match your referenced studies, and as I said before studies can be manipulated to get the outcome desired.
If you do have a job, and you still think the average American's real purchasing power is higher than it was in 2019, then you must have received quite a raise.
I have quite literally watched rent in my college town go from 250-500$ to 750-1250$. The standard college student level pay has gone from 10-15$ an hour to 15-20$ an hour. I’d much rather go back to making 14.50$ an hour and paying my 450$ rent instead of 22 and 1200$ rent.
Me personally I think the economy sucks because houses built for 150,000-200,000 dollars are going for a million right now, and I have to pay 1200 a month for a single bedroom and shared kitchen and that ONLY benefits the very high income landlords/real estate workers but yeah you might be onto something.
Hahahahhahahha!! 🖕
you suck. You’ll never own in CA. Go running, maybe you’ll make enough for that million dollar home. Chimp.
I recently ran with a rich dude in CA and he said he was a letsrun user so I really hope it’s you
What Biden’s policies did was erode middle class wealth. If you ever take Macroeconomics, what they will teach you is that increases in wages for the untrained / uneducated mostly result in inflation for everyone. And that has held true.
real wages are still up for the middle income brackets compared to pre-pandemic. Middle class folks are just SEETHING that “the poors” have seen things improve faster.
And if you bother to read the wsj article, it’s not some partisan hit piece, it’s based on data from the CBO.
The group most impacted by things like Biden’s food stamp expansion (that somewhat insulated the bottom 15%) massively inflated food prices that hit particularly hard on the middle class who weren’t given food stamps. Couple that with losses in their net worth due to stock market declines and now real estate declines (middle class Americans carry a large chunk of their net worth in their residence) and you have a middle class that is paying more in expenses, is worth less in spite of saving and being employed and are paying more in taxes. Biden has lost the middle class, which is why Biden will lose the 2024 election.
Pay the lowest earners what they are worth has made everything expensive from food, to child care, to cleaners, to deliver.
The lowest 20% of earners have seen incredible income gains since 2020
So middle class / petite bourgeoisie people are upset they cannot exploit the masses anymore. That lifestyle disappearing is just very upsetting.
Riddle me this. What changed that low paid workers are suddenly getting paid 30 plus percent more?
Hint: it might have something to do with the 3 trillion dollars the government printed and passed out like candy. Suddenly people didn't have to work, or pay rent, or worrying about grocery money. The biggest winners were the rich, many of whom submitted bogus claims. They don't care how much an oil change or a haircut costs. The people that are getting ripped the most are the middle class who saw minimal relief but are paying through the nose for higher food, utilities, and housing.
I'm fine with people making a decent living but believe the impact of dumping 3 trillion into the economy will go away eventually with hard times for many on the horizon like those in real estate and construction.
And if you bother to read the wsj article, it’s not some partisan hit piece, it’s based on data from the CBO.
The group most impacted by things like Biden’s food stamp expansion (that somewhat insulated the bottom 15%) massively inflated food prices that hit particularly hard on the middle class who weren’t given food stamps. Couple that with losses in their net worth due to stock market declines and now real estate declines (middle class Americans carry a large chunk of their net worth in their residence) and you have a middle class that is paying more in expenses, is worth less in spite of saving and being employed and are paying more in taxes. Biden has lost the middle class, which is why Biden will lose the 2024 election.
home values are at record highs
The stock market is just barely below its record high.
Not sure what you are talking about in terms of 'stock market declines' and 'real estate declines.'
This post was edited 2 minutes after it was posted.
The stock market is just barely below its record high.
Not sure what you are talking about in terms of 'stock market declines' and 'real estate declines.'
I’d argue the stock market is closer to record highs than the real estate market.
At least where I live, real estate prices have pulled back 5-10% from the high except for the most desirable areas, which have pretty much peaked steady for the last 6 months. Inventory has increased significantly in the last 12 months.
That said, home values have nearly doubled since 2020, so values are still extremely high.
The stock market is just barely below its record high.
Not sure what you are talking about in terms of 'stock market declines' and 'real estate declines.'
I’d argue the stock market is closer to record highs than the real estate market.
At least where I live, real estate prices have pulled back 5-10% from the high except for the most desirable areas, which have pretty much peaked steady for the last 6 months. Inventory has increased significantly in the last 12 months.
That said, home values have nearly doubled since 2020, so values are still extremely high.
sure, there will be regional discrepancies. But nationwide they are at all-time highs. I've linked to the standard measurement.
Although this is not an inflation-adjusted number (neither are stocks), so in steady dollars we are not at all-time highs.
You’re halfway to understanding. Now adjust the value of your stocks and housing for inflation. Do you feel wealthier or have you even kept up with where you were?
This is a good article noting how perception of a bad economy doesn’t match reality. Thinking you are personally doing fine but the national economy is somehow bad.
“If you just look at people’s actual spending habits, which I think is probably a fair measure of their actual view of their financial condition and where the actual economy is going, it is screaming that people feel very comfortable with where they think things are,” Ramamurti said. “We should evaluate conditions more by how people act rather than what they say.”
Let’s use Kroger as an example since you’re focusing on grocery stores and restaurants it seems. CEO McMullen made 19 million per year. Lowest paid Kroger workers are at 8.15/hourly. That’s 1117x yearly. What can this guy buy for 19 million a year that he can’t buy for 13 mil a year? I’m sure the Board and other C suite are in the ball park as well. I think 13 million a year is enough reward to continue extremely high performance while redistributing let’s say 100m a year to base employees. Using the same exact amount of cash for the company.
CEO pay follows the same rules of supply-and-demand. If you reduce the pay of the Kroger CEO to $13M but Amazon/WF is willing to pay them $20M then Kroger will need to match or find a new CEO.
Comparing CEO pay to worker pay doesn’t explain the disparity.
Pay the lowest earners what they are worth has made everything expensive from food, to child care, to cleaners, to deliver.
The lowest 20% of earners have seen incredible income gains since 2020
So middle class / petite bourgeoisie people are upset they cannot exploit the masses anymore. That lifestyle disappearing is just very upsetting.
True that for sure. The rich have for too long claimed they make obscene $ based solely on their superior "hard work". Most get rich on the backs of cheap labor, and also infrastructure provided to them by the US govt/taxpayer. This whole rugged individualism is hogwash, unless you live off the grid. Drives me nuts when rich people complain about paying more dollars in taxes.
Stated differently, it would suck to be rich in a country with no hotels, no resorts, no infrastructure, no autoworkers, no restaurants, no ditch diggers as it were. That's Haiti- a few very rich behind barbed wire, and nothing else. If you want to claim you live in the best country in the world, you gotta pay to keep it that way.
Amazon for example, pays little, but does a gigantic amount of damage (proportional to you and me) to the roads, bridges, air, garbage dumps you name it.
And if you bother to read the wsj article, it’s not some partisan hit piece, it’s based on data from the CBO.
The group most impacted by things like Biden’s food stamp expansion (that somewhat insulated the bottom 15%) massively inflated food prices that hit particularly hard on the middle class who weren’t given food stamps. Couple that with losses in their net worth due to stock market declines and now real estate declines (middle class Americans carry a large chunk of their net worth in their residence) and you have a middle class that is paying more in expenses, is worth less in spite of saving and being employed and are paying more in taxes. Biden has lost the middle class, which is why Biden will lose the 2024 election.
Yes those darn real estate declines! I expected far better than 100% increase in value over 3 years. Puff piece meets partisan rag.
And if you bother to read the wsj article, it’s not some partisan hit piece, it’s based on data from the CBO.
The group most impacted by things like Biden’s food stamp expansion (that somewhat insulated the bottom 15%) massively inflated food prices that hit particularly hard on the middle class who weren’t given food stamps. Couple that with losses in their net worth due to stock market declines and now real estate declines (middle class Americans carry a large chunk of their net worth in their residence) and you have a middle class that is paying more in expenses, is worth less in spite of saving and being employed and are paying more in taxes. Biden has lost the middle class, which is why Biden will lose the 2024 election.
Yes those darn real estate declines! I expected far better than 100% increase in value over 3 years. Puff piece meets partisan rag.
We should just increase minimum wage to 50 per hr and eliminate the lower class.
And if you bother to read the wsj article, it’s not some partisan hit piece, it’s based on data from the CBO.
The group most impacted by things like Biden’s food stamp expansion (that somewhat insulated the bottom 15%) massively inflated food prices that hit particularly hard on the middle class who weren’t given food stamps. Couple that with losses in their net worth due to stock market declines and now real estate declines (middle class Americans carry a large chunk of their net worth in their residence) and you have a middle class that is paying more in expenses, is worth less in spite of saving and being employed and are paying more in taxes. Biden has lost the middle class, which is why Biden will lose the 2024 election.
Yes those darn real estate declines! I expected far better than 100% increase in value over 3 years. Puff piece meets partisan rag.
Calling the wsj a partisan rag? Maybe you prefer cnn to understand how Biden lost the middle class:
