Grocery prices fell in April

Agree but very doubtful anyone with a lick of sense still reads his biased libbie takes.

 

LOL. Yes it was your pathetic attempt at humor. It’s ok, just because inflation kicked in during 21-24 to ruin your little “it mostly happened in 20” garbage. I didn’t see you apologize so I’ll keep pointing it out until you say you were wrong. Can’t wait Sport!

 

Not sure I’d go quite that far.

 

Jeez - no words

 

This is why so many people don’t believe that the economy is strong. Note. the bottom graph. From the WSJ.

 

The “nominal” chart tracks pretty evenly up through the last comparable data point.

The “adjusted for inflation” obviosly captures that spike in inflation. So it tread water for about a year. Not a great data point for President Biden, but this chart does pretty much show us turning the corner.

2nd time I’ve seen that posted. I seriously hope y’all aren’t including that surge in “wealth” at the end of Trumps term. Try to think back real hard to what was going on in 2020…

 

Why do you think that household wealth declined? It isn't a drop in real income. It isn't a drop in the stock market. It isn't a drop in the value of real estate. Seems likely that drop is due to spending. Is people buying stuff really a sign of a weak economy?

 

Well the bottom chart speaks to “buying power”, per the top chart people nominally had more wealth (in line with recent growth), but adjusted for inflation there was a period where they were losing or it was flat - for about a year in total.

That’s a real issue, but if we are ignoring the reasons that went into that (pent up savings from pandemic, increased economic normalization after pandemic, labor tightness, supply chains out of China, etc) it’s just dishonest. But this is where we are now.

I can see how people treading water might not “feel” better off or not understand the definition of a recession, the avg Joe doesn’t care about analysis or “excuses”. But to be that wrong about easy to understand factual stuff like stocks or unemployment rate is just mental to me.

 

It isn't really even explainable by inflation. Real income has been increasing, especially in lower income groups, for quite a while. Real estate and equity have also both increased by more than inflation. It seems likely that it is just people spending down assets.

Essentially, everybody stopped spending for a short period in 2020. Then, with that excess money, as well as government expenditures, they built household wealth. Then, over the next few years, they spent it.

Real Households Final Consumption Expenditure for United States

 

It will be interesting to see how many bacons, dislikes, c'mon mans, and off-topics this post gets from the left.

 

Some people will do anything than admit they were wrong about inflation.

 

Like when you refused to admit that incomes had risen as much as inflation?

 

LOL. Some people think because some people might have had their incomes rise more than inflation that it applies to everyone. I caught the poster in question lying and he won't admit it. Wonder why there is an 26% increase in people coming to this food pantry? Just an outlier?

Wages are going up. Why do we feel like we can’t afford anything? – NBC4 Washington

Karen Ergenbright, the executive director of Dulles South Food Pantry in Loudoun County, Virginia, is seeing these effects at work.

"We have seen a 26% increase in individuals coming to the pantry between 2022 and 2023," Ergenbright said.

The number of visitors to the food pantry over age 60, Ergenbright said, has increased by 33% over the same time period.

 

Yep, still refusing to admit it.

 

Kamala is Saving the USA ! This woman is just brilliant!

 

As brilliant as Pence?

 

Don’t even compare lol

 

Definitely no comparison. Harris does not have a long history of telling bigoted lies.


"The great vast majority of the psychological community says homosexuality at a very minimum is a choice by the individual, and at the maximum, is a learned behavior."

Mike Pence said in the 1990s that being gay was 'a choice' or a 'learned behavior,' but the White House says he isn't 'anti-gay'