this post was submitted on 07 Oct 2024
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You know how a freight train can take miles to stop after the brakes are applied? The economy is like a big ass train, so any changes are going to take a long time to take effect. The train is slowing down, but expecting it to stop on a dime is just unrealistic.
So what you're saying is, is that Biden really wants to help the economy, and he wants it to be better, but it's too big for that to happen?
I'm sorry, setting aside the pedantic nature of your grade school math problem turned economics analogy, it actually supports my contention that the New York Times is blowing smoke up our collective asses.
No, I'm saying things are getting better but it's happening slowly and we have to be patient.
Let's agree, to disagree, on where the economy is going to end up, or it's broader trends.
That's not relevant here, because this article, and many of the commenters, contend that it's already doing good, and it has been doing good for some years now.
Which was my entire point, that it's smoking mirrors, using intentionally disingenuous figures like raw job numbers, and stock market performance, as if that translates to the wider economy of the working class, or any American outside of the top end of the economy.
You are right that jobs figures and the stock market don't necessarily translate to the working class. What does are things like union activity and membership which have increased. Labor is striking for better wages and winning. Office workers are pushing for work-from-home options and winning.
Energy cost have dropped significantly. Gas prices are down to $3.26 from $3.93 this time last year. Food inflation is down to 2.1% this year, which is comparable to what it was before the pandemic. Yeah, meat prices are still high, but fruits, vegetables, and grains are down. All significant improvements for the average person.