The US Economy

[Superbone]

Mitt Romney Tells MSNBC There’s ‘No Question’ That ‘The Economy Is Strong’ and ‘Doing Well’
https://www.mediaite.com/tv/mitt-romney ... oing-well/

Everything is great in Mitt Romney's world. Do you think he ever worries about grocery prices or gas prices? The guy is about as out of touch as you can possibly be. I doubt that he ever even touches a door handle himself.

I don't think I'm out of touch. Grocery and gas prices don't concern me. Nobody opens a door for me, grocery shops for me, or pumps my gas. I was able to retire on Joe's watch and I'm doing better than ever. First hand experience here. The stock market just hit all-time highs. I couldn't be happier with the results under Joe Biden's presidency. Four more years!

[Mori Chu]

The stock market is at a record high. That means the economy is strong and President Biden is the sole cause of it, right? That's what I kept hearing in 2017-2020.

[In2ition]

Mitt Romney Tells MSNBC There’s ‘No Question’ That ‘The Economy Is Strong’ and ‘Doing Well’
https://www.mediaite.com/tv/mitt-romney ... oing-well/

Everything is great in Mitt Romney's world. Do you think he ever worries about grocery prices or gas prices? The guy is about as out of touch as you can possibly be. I doubt that he ever even touches a door handle himself.

I don't think I'm out of touch. Grocery and gas prices don't concern me. Nobody opens a door for me, grocery shops for me, or pumps my gas. I was able to retire on Joe's watch and I'm doing better than ever. First hand experience here. The stock market just hit all-time highs. I couldn't be happier with the results under Joe Biden's presidency. Four more years!

You are not the ones that are struggling in this economy. Of course it's great for you. It's not great for those that live paycheck to paycheck, and do not own a home. Is that hard to understand?

[Superbone]

Mitt Romney Tells MSNBC There’s ‘No Question’ That ‘The Economy Is Strong’ and ‘Doing Well’
https://www.mediaite.com/tv/mitt-romney ... oing-well/

Everything is great in Mitt Romney's world. Do you think he ever worries about grocery prices or gas prices? The guy is about as out of touch as you can possibly be. I doubt that he ever even touches a door handle himself.

I don't think I'm out of touch. Grocery and gas prices don't concern me. Nobody opens a door for me, grocery shops for me, or pumps my gas. I was able to retire on Joe's watch and I'm doing better than ever. First hand experience here. The stock market just hit all-time highs. I couldn't be happier with the results under Joe Biden's presidency. Four more years!

You are not the ones that are struggling in this economy. Of course it's great for you. It's not great for those that live paycheck to paycheck, and do not own a home. Is that hard to understand?

Living paycheck to paycheck is a choice that many make no matter how much money they make. I know as I used to be one of them. The economy is never great for those living paycheck to paycheck but it is often a choice. This is America. Anybody can put the work in and move up to higher paying jobs or many other side hustles to make more money. I don't feel sorry for the woe-is-me crowd that doesn't do anything about it.

[Nodack]

Mitt Romney Tells MSNBC There’s ‘No Question’ That ‘The Economy Is Strong’ and ‘Doing Well’
https://www.mediaite.com/tv/mitt-romney ... oing-well/

Everything is great in Mitt Romney's world. Do you think he ever worries about grocery prices or gas prices? The guy is about as out of touch as you can possibly be. I doubt that he ever even touches a door handle himself.

You just posted an article yesterday quoting Romney. He was an expert then. Now he’s out of touch. All in one day.

[In2ition]

Mitt Romney Tells MSNBC There’s ‘No Question’ That ‘The Economy Is Strong’ and ‘Doing Well’
https://www.mediaite.com/tv/mitt-romney ... oing-well/

Everything is great in Mitt Romney's world. Do you think he ever worries about grocery prices or gas prices? The guy is about as out of touch as you can possibly be. I doubt that he ever even touches a door handle himself.

You just posted an article yesterday quoting Romney. He was an expert then. Now he’s out of touch. All in one day.

I agreed with him on the strategy he talked about with Biden and Trump, but he's wrong here. Not a hard concept.

[Nodack]

You mean pardoning Trump? If Trump is found guilty in NY, Biden can’t pardon him. It’s a state. Romney says Biden can try to pressure them to stop the cases. He wants Biden to pressure them to stop prosecuting Trump so he can look big. And how many Dems would support that? And then Trump continues to run and talk about the Biden crime family he would lock up if elected.

[In2ition]

You mean pardoning Trump? If Trump is found guilty in NY, Biden can’t pardon him. It’s a state. Romney says Biden can try to pressure them to stop the cases. He wants Biden to pressure them to stop prosecuting Trump so he can look big. And how many Dems would support that? And then Trump continues to run and talk about the Biden crime family he would lock up if elected.

Yes, the pardoning of Trump. I understand that he couldn't do anything about the States, but since he pushed the states to do it from their side, if he had any plans on pardoning Trump, he wouldn't have pushed for them to do it, and instead would have discouraged them. But, it's pretty clear what happened and is happening.

Trump can't actually lock anyone up. It would have to be the justice system that did it.

[Superbone]

From my daily Morning Brew newsletter:

ECONOMY
Most of America thinks we’re in a recession (we’re not)

You’d need to be an Olympic long jumper to bridge the gap between how well the public thinks the economy is doing and how well the economy is actually doing, according to a new Harris poll published yesterday by the Guardian.

Among the 2,000+ participants in the survey:

* 56% think the US is currently experiencing a recession, and 55% believe the economy is shrinking. (GDP—a key measure of economic activity—is growing.)

* 72% believe inflation is going up. (It’s more than halved from a 2022 peak of 9.1% and is hovering between 3% and 4%.)

* 49% think the current unemployment rate is at a 50-year high. (It’s near a 50-year low.)

* 49% believe the S&P 500 is on the decline. (It’s risen more than 12% this year, and Wall Street is raising its expectations for the index’s year-end performance. The Dow also just made record gains.)

Why is reality missing so many Americans?
Even though inflation is finally easing, the average cost of groceries, housing, and other consumer needs has soared over the past few years. About two-thirds of the Harris poll respondents agreed that “it’s difficult to be happy about positive economic news when I feel financially squeezed each month.”

But also…analysts only recently hit Command-Z on widespread predictions of an impending crash: While 9 in 10 business economists now see a soft landing coming, according to the National Association for Business Economics, back in October 2022, Bloomberg Economics forecast a 100% chance of a recession by the following fall.

Media coverage likely also shares the blame. Recent studies show that news coverage is becoming increasingly negative, especially regarding gas prices, a common harbinger of economic panic.

Here’s why that’s bad news for Joe Biden. 58% of the poll’s participants blame the current administration for what they see as a worsening economy. Convincing them otherwise will be a challenge, especially since more than 60% of people surveyed said they’re skeptical of economic news. Test your own economic perceptions against reality with this quiz from the Guardian.

[Mori Chu]

The US economy is relatively strong, and to the degree that it isn't, most of that is caused by the long tail of COVID and of Trump. It's still tough out there, but almost every other country in the world is doing worse, but most Americans don't pay attention to other countries. Plus we have a full blown propaganda network in our country constantly criticizing and doom-and-glooming the state of the economy and country whenever an evil Democrat is President. Rest assured that if Trump wins, those same media outlets and polls will immediately say that the economy is doing great, thanks to the wonderful presence of President Trump.

[In2ition]

Counterpoint is that there are several full blown propaganda networks in our country constantly playing the skin pipe of Biden and the economy, while at the same time ignoring inflation numbers.

[Superbone]

Counterpoint is that there are several full blown propaganda networks in our country constantly playing the skin pipe of Biden and the economy, while at the same time ignoring inflation numbers.

You, my friend, are the one ignoring the inflation numbers. See my post above.

Here, saved you some time:

* 72% believe inflation is going up. (It’s more than halved from a 2022 peak of 9.1% and is hovering between 3% and 4%.)

[In2ition]

Counterpoint is that there are several full blown propaganda networks in our country constantly playing the skin pipe of Biden and the economy, while at the same time ignoring inflation numbers.

You, my friend, are the one ignoring the inflation numbers. See my post above.

Here, saved you some time:

* 72% believe inflation is going up. (It’s more than halved from a 2022 peak of 9.1% and is hovering between 3% and 4%.)

I'm actually not. I think their perception is that if the inflation numbers were down, the prices would also be down, but that's not the case and the prices are still high, probably never going down and they are seeing another increase in gas prices. I'm not saying that they are correct, just that perception is reality for most people struggling from day to day.

[Superbone]

Counterpoint is that there are several full blown propaganda networks in our country constantly playing the skin pipe of Biden and the economy, while at the same time ignoring inflation numbers.

You, my friend, are the one ignoring the inflation numbers. See my post above.

Here, saved you some time:

* 72% believe inflation is going up. (It’s more than halved from a 2022 peak of 9.1% and is hovering between 3% and 4%.)

I'm actually not. I think their perception is that if the inflation numbers were down, the prices would also be down, but that's not the case and the prices are still high, probably never going down and they are seeing another increase in gas prices. I'm not saying that they are correct, just that perception is reality for most people struggling from day to day.

No. The facts were laid out. Feel free to believe the alternate facts fed to you by your people.

[In2ition]

Counterpoint is that there are several full blown propaganda networks in our country constantly playing the skin pipe of Biden and the economy, while at the same time ignoring inflation numbers.

You, my friend, are the one ignoring the inflation numbers. See my post above.

Here, saved you some time:

* 72% believe inflation is going up. (It’s more than halved from a 2022 peak of 9.1% and is hovering between 3% and 4%.)

I'm actually not. I think their perception is that if the inflation numbers were down, the prices would also be down, but that's not the case and the prices are still high, probably never going down and they are seeing another increase in gas prices. I'm not saying that they are correct, just that perception is reality for most people struggling from day to day.

No. The facts were laid out. Feel free to believe the alternate facts fed to you by your people.

My counterpoint was towards Mori's post. Not sure how you think that perception is different than what it is? Are you attempting to make an argument that the prices of everything is only 3% to 4% higher than they were 4 yrs ago?

[Mori Chu]

There's definitely a misconception among a lot of people that:

- "inflation going down" means prices are going down; and
- "reducing the deficit" means reducing the national debt.

[In2ition]

There's definitely a misconception among a lot of people that:

- "inflation going down" means prices are going down; and
- "reducing the deficit" means reducing the national debt.

I agree.

[In2ition]

Should this be of concern?

[Mori Chu]

Source?

[In2ition]

Source?

https://finance.yahoo.com/news/fdic-ins ... 00942.html