Americans- the economy freaking sucks! Everything is awful ! Americans- hey guys let's take a family trip to Paris bcz you know the economy is so bad We live in the dumbest of the dumbest time period in history
too, Black Friday Shoppers Set Online Spending Record Demand for electronics, smartwatches, TVs and audio equipment helped boost the day’s online sales by 7.5% compared with last year. Consumers extended their budgets by leaning on buy-now, pay-later options, which climbed by 72% from the week before Thanksgiving. The uptick marks a recovery from last year’s holiday season, when high inflation hit consumers’ pockets and retailers discounted heavily to get rid of bloated inventory. This year, holiday shopping is a bellwether for US consumer resilience as pandemic-era savings dwindle and interest rates remain at a more than 20-year high.
Economists will study this time in the future for years. We've never lived in a bigger disconnect where people's perception of the economy has never been further to the actual reality
people who price a house or car will know where they stand and then respond in polls appropriately. I don't think it's a reflection of the current GDP or job market but it is a reflection of where we have been heading for the last 30 years. It was all fine when money was cheap.
Auto loans and mortgage rates are similar to those in 90s and 2000s. The issue is Americans got use to 0% loans and cheap credit when the fed had 0% rate. Americans got spoiled but that doesn't take away from every economic indicator is showing a booming economy. We had 50% of the global growth. Those are empire numbers
In the 90s the Home Price to Median Household Income Ratio was around 4 and now it's over 7. That's a number not seen since 2006 housing bubble. It isn't just mortgage rates and covering monthly payments. It's the double whammy. Boomers saying they didn't have 3% when buying their first home are so out of touch it's pathetic.
Again we've had a massive shortage of construction of new homes in this country for decades. This didn't magically occur in 2021. The only thing that's different now is mortgage rates are at 7.5%. Again GDP, unemployment, capex on manufacturing, corporate debt, corporate earnings, wages, health care is affordable due to expanded aca subsidies, etc show the economy is more than healthy. The economy isn't measured by housing. That's one component. Also in 2021 biden put forth a bill that would build 2 million new homes and the government would pay for it. All Republicans said no
False, the thing that has changed is Home Price to Median Household Income Ratio which has doubled since the 90's and at an insane ratio. If your message is Biden had a plan but was unable to pass the legislation I don't think that's going to land with voters.
I mean thats how we passed climate change and health care legislation. Again yes house prices are high and the solution to that is building more homes. There's no magical wand to increase supply. It will take subsidies and government involvement. Trump has no plan. The person at the fed is Trumps guy. We shouldn't have ever raised rates to the insane levels they are today. Inflation was driven by supply chain bottlenecks
We have a plan but we failed is going to hit as well as explaining why biden failed on his campaign promise to get rid of 10K in student loans. Your key voters with college degrees or dropouts will be pretty pissed about that and when they are looking at houses. It isn't hard to see that even with their probable wage increases they feel like they are getting screwed.
Students came out in droves in the 2022 midterms and voted for dems 95-5 bcz Republicans blocked student debt relief right before lol. Your arguments are so damn stupid. It's democrats fault that Republicans voted against something and voters are too dumb to piece things together. Also biden did transform student loan system. He got rid of accured interest and cut payments in half for everyone and lowered the threshold for 0 dollar payments for anyone making under 36k You're not smart to debate with
Do you think it's fair for a plumber to have to pay the student debt of a liberal arts major from Princeton? Or do you think money just magically appears out of no where to satisfy these debts? Directing tax dollars to pay off college graduates' debt over other, far more pressing needs of the country, is absurd. It's also creating a very bad incentive for colleges to raise tuition EVER FURTHER -- and that's already spiraled out of control. It's a handout to universities, which is awful -- and politically driven. One day you will learn how the world really works, rookie.
Yes.... obviously respective of their income. Do you not understand how basic society works. Every tax payer pays for things that don't directly impact them but rather stabilizes society that allows the individual to carry out their profession or trade in a stable environment. Maybe a plumber would get more clients from individual homeowners if more people with college education didn't have 400 dollar monthly payments a decade after graduating still limiti8ng their purchasing power to save for a down payment for a home.
you had no problem w a plumber paying more taxes so that the top 1% earners would geta bigger tax cuts, as effected by the Trump tax cut
[/QUOTE] imo, the downward trending inflation has been the catalyst for this robust consumer spending in 2023, just the opposite of last year
Do i think it was fair that trump created loop holes for hedge funds to be taxed at a lower marginal rate than ordinary folks in trumps tax cuts? Do i think it was fair that he deregulated the entire banking industry giving away billions in free money for big banks when they dont need them? Do I think its fair that we give the oil and gas industry billions in subsidies that trump helped supercharge? Im not sure why right wingers always talk about money as if their guy gives a flying **** about the debt.
