Stagnation is when inflation is greater than wage growth. Wages have not caught back up. The beggers tip jar at every POS device should be a clue. If biden passes in office, Harris will not be as passive as Biden. Harris is not the sharpest tool in the shed.
That isn’t the only definition of stagnation and we are seeing inflation decline while wage growth is increasing. As far as the tip jar that isn’t just a function of inflation but the uniqueness of the US system regarding that tipping is encouraged and service industry workers legally can be paid less. Also other factors such as health care costs which aren’t generally covered by employers in small service industry businesses.
It doesn't really belong in this thread, so I initially ignored it. However, I'll try anyway. The choice is either the status quo or the risk of full-on authoritarianism. However one may perceive the status quo (and I happen to think it's pretty good, but I understand many believe the very opposite), it is still better than full-on authoritarianism.
I think all of us can agree that Biden isn’t perfect and has made mistakes. What we see in Trump thought is not just the calling for of overthrowing Constitutional norms but that he actually attempted to the last time he was president. Even besides that we’re talking about a man who has now been held legally liable for sexual assault, faces 91 indictments and had to shut down his foundation while President for defrauding charities for veterans. I get a lot of people are unhappy about the current president, the current economy, the current state of the World. Nothing happens on a vacuum though and is it worth it to “own the Libs” to put back in office a man who says he’s just going to be dictator for a little while while he hawks trading NFT’s to the gullible.
That is not the definition of stagnation. With your definition, we were in a state of stagnation during the mid-1970s recession, the early 1980s with 9+% inflation, the mid-1980s, and most of the late 1980s to early 1990s with 4+% inflation, the mid-2000s with 3-5% inflation, the 2009 recession with 5-6% inflation, and early 2011 with 3-4% inflation. It might actually be easier to say when we were not in a state of stagnation with your definition. Spoiler: Wage Growth and Inflation 1965-2015 The common definition is below. We aren't anywhere close to stagnation with our low unemployment and solid GDP growth. Plus, wages have outpaced inflation since around February 2023. Spoiler: US Wages vs Inflation 2020-Nov2023 Wiki: Economic stagnation is a prolonged period of slow economic growth (traditionally measured in terms of the GDP growth), usually accompanied by high unemployment.
**rate of inflation is decreasing Wages are not going up faster than inflation, and as I said before, they have not kept up with this inflationary spike we just came out of I am not talking about servers or other industries that utilize tipping. You know this though. Look. The fiscal side of the Biden administration has done well with what they were given. I am not knocking that. But we can't pretend everything is peachy keen going forward. Boomers and Gen X are doing decent. It's the upcoming generation that is going to struggle
We agree Trump ran his administration poorly and we both can agree he is a terrible president. He isn't full on authoritarian. He doesn't have the power. Stating that takes the nuance out of the conversation. Yes, Trump runs his administration is an authoritarian manner, not recommended, but allowed. Yes, he over steps his boundry because he is a bumbling idiot. And yes, he would try to run the country as an authoritarian if he could get away with it. Conversely Biden is the complete opposite. He completely depends on his administration. His economic side is very solid. His social side is a dumpster fire. That said, if his administration could run the country in an authoritarian manner, they absolutely would too. Just like every administration past, present and future.
We can strongly disagree about the effectiveness of an administration and the quality of a POTUS, and that's perfectly normal and acceptable. However, my complete disagreement lies with the assertion "just like every administration past, present, and future." With the exception of one, there has never been a POTUS who refused to peacefully transfer power, persisted in claiming he didn't lose the election, and incited a violent attack on the US Capitol to delay the certification of the next POTUS. This same individual has outlined his plans if he wins again, and yet, as many did before the 2020 election, it's dismissed as a joke or just bs talks. As compared to this one person, I remain indifferent to anyone else becoming POTUS, even someone like Ted Cruz; he would still fall within the spectrum of a 'normal' POTUS.
no, ur wrong. stagnation is when the economy is not growing. the US economy has been growing every quarter since Biden took office as POTUS
Wells Fargo, B of A and Chase, as well as every AG outside of Calif, would tell you otherwise. https://bbs.clutchfans.net/threads/a-new-hope-kamala-harris.278510/page-37#post-14727976 $25-billion foreclosure settlement was a signature achievement for Kamala Harris In September 2011, Harris pulled California out of the nationwide mortgage settlement talks after a coalition of state attorneys general and federal agencies spent nearly a year negotiating trying to hammer out a deal with the nation’s five largest mortgage servicers: Wells Fargo was accused of using illicit tactics to wrongfully foreclose on homeowners. Harris made the decision to pull out of the talks after she met personally with representatives from the banks, saying that the deal they were offering would have provided just $2 billion to $4 billion to California. Harris has dismissed the deal as “crumbs on the table.”When the nationwide mortgage settlement was reached more than four months later, California had secured separate commitments from the three biggest mortgage servicers — Bank of America Corp., Wells Fargo & Co. and JPMorgan Chase & Co----close to $25 billion the $25 billion settlement for Calif makes other state AG look like dumb asses
I would agree with the bolded statement. And yes, I agree the technical definition is not aligned with the way I used it. Pushing aside traditional economic theories, the question remains: Is the lower class doing better YOY, or DOD (decade over decade). Is there a clear path that allow those who apply themselves to move up? Is middle class america holding onto their wealth? I prefer to look at macro trends over micro trends.
Low wage workers have made more wage gains than any other demo under biden...wealth inequality is down Wage growth has been stronger in ameeica than any country in the world.....
my bet is on the Trust Fund baby losing the 2024 Presidential election again. that said, there is a remote chance that he could win. Orange hair is gearing up for the Second Trade War DJT has reportedly summoned his top economic advisors to discuss imposing massive new tariffs on imports if elected in 2024. There is no reason to doubt his intentions. Trump actually did some of this, selectively, when he was president. He imposed tariffs on imports of steel and aluminum, claiming it was a national security issue. The additional tariffs indiscriminately hit products from America’s allies and rivals alike. Our allies were shocked. The European Union retaliated with tariffs on U.S. exports. Unsurprisingly, the move by the U.S. was condemned by an international panel at the World Trade Organization (WTO). The Trump tariffs have been rolled back by the current administration, with some ceilings on imports left in place. Trade peace was restored, at least for now. Trump also imposed 25% tariffs on a broad range of products from China. China retaliated in kind with tariffs of its own. This set of tariffs remains largely in place. Both the U.S. action and the Chinese response were condemned at the WTO. By imposing the tariffs on goods from China, the idea was to get China to buy more U.S. goods and change trade policies that displeased the U.S. There is no evidence that China did either.
minutes of Fed's Dec 2023 FOMC meeting were released today. While confirming that has peaked ~~ Nov 2022, it also noted that that upcoming rate decisions hinge on how the U.S. economy performs in the coming months.
No avenue is safe anymore Mavs' Luka Doncic dazzles with 73, tied for 4th in NBA history Dallas Mavericks star Luka Doncic had a night to remember Friday, lighting up State Farm Arena for a career-high 73 points in a 148-143 victory over the host Atlanta Hawks. It marked the highest-scoring game in the NBA this season, passing the 70-point performance by Philadelphia 76ers center Joel Embiid on Monday against the San Antonio Spurs. It also tied Wilt Chamberlain and David Thompson for the fourth-highest output in NBA history. Chamberlain, who owns the NBA record with 100 points, also had a 78-point outing, while Kobe Bryant finished with 81 points on Jan. 22, 2006. "Those names are special," Doncic said. "It's unbelievable." Trae Young, who led Atlanta with 30 points. "We were trying everything. We were trying to trap him." Booker scores 62, but Pacers' rally burns Suns 9h NBA players are dropping 60 and 70 like it's nothing -- what's driving these wild numbers? 9hESPN.com Who has scored the most points in a single NBA game? 10hAlex Kennedy
My GF and I splurged last year, went to see the Astros, stayed downtown and had a blast..........went to the game and we both got a vodka cranberry, and they were $26 each...............I thought I was going to **** a brick LOL
Dude... buy a plastic travel flask. I don't think I bought anything other than a coke at any UT game during the last 10 years.
