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July inflation rate rises to 3.2%. Bidenomics isn't working.
- Thread starter Nostra
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Enlighten me. How is this Biden’s fault, when farmers are complaining that state laws are keeping workers away?
RhodyPatriot
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Fuck, I meant Hunter snorts coke off Monopoly dude's ass.
Ya know, for money.
Man I am so embarrassed right now...
WTH_Progs?
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I asked you a direct question. Let's review. You said that Xiden's acceleration of the child tax credit reduces inflation. Explain how that's possible.
WTH_Progs?
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Technically 3.2% increase over one year ago. Of course their numbers are BS. It doesn't include all kinds of things, such as food and gas
.Bet your asrsch a more realistic number is the price of everything short chinese goods are 40% more than when Xiden stole office.
LeftofLeft
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What farmers and how many farmers?
Sorry, going to do a MAGA and insist you do your own homework. If that sounds too much like work, there are YouTube videos of farmers complaining about not being able to get their fields harvested. Anyone of a capitalist mind knows what that leads to.
RhodyPatriot
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Do a MAGA?
You've literally had the same fucking cop out in like three different threads today.
And if you ask me to prove it, you KNOW what I'm gonna fuckin say...
BlueGin
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They think they are going to get student loan payoffs and reparations.
WTH_Progs?
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Thanks for the clarification
I’ll raise you your willful blindness
RhodyPatriot
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In these turbulent times, clarity is the beacon that shows us the way.
I don’t care what you say. You’ll just twist it.
skews13
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Bidenomics is killing working folks. This is why we have had 30 months straight of people's real wages going down. That means a pay cut each month for 30 months under Biden.
Joe is a disaster of epic proportions.
Inflation rose by an annual rate of 3.2% in July, reflecting the first increase after a year of cooling prices.
The Consumer Price Index, a basket of goods and services typically purchased by consumers, grew at an annual rate just below economists' forecast of 3.3%, according to FactSet. On a monthly basis, inflation rose 0.2%, the Labor Department said Thursday.
The uptick, the first increase in the pace of growth since June 2022, is due partly to higher housing and food costs. Even so, economists said underlying press pressures are easing, and that the economy is showing signs that price increases will continue cooling.
Inflation rose 3.2% in July, marking the first increase after a year of falling prices
Though far from its recent peak of 9.1% in June 2022, the figure remains higher than the Federal Reserve's goal of 2%.www.cbsnews.com
From your own post
The uptick, the first increase in the pace of growth since June 2022, is due partly to higher housing and food costs. Even so, economists said underlying press pressures are easing, and that the economy is showing signs that price increases will continue cooling.
Core CPI is at 4.7%, down from 4.8% in June. The CPI for July was 3.2%, up from 3% in June, but on a downward trajectory. Unemployment has remained below 4% since February 2022, and currently sits at 3.5%.
Prices on a broad range of goods and services, from airline travel to medical care, declined last month compared to the previous month.
"Disinflationary pressures continued to build," Paul Ashworth, chief North America economist for Capital Economics, wrote in an analysis of the July CPI data.
After two years of crushing inflation that wiped out most workers' wage gains, Americans are seeing a reprieve. Pay is finally rising faster than consumer prices, according to data from the Bureau of Labor Statistics. Average hourly pay has grown at an annual rate of 4.4% for the last three months, topping the Consumer Price Index, which rose at rate of 3% in June and 4% in May.
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You're a fucking idiot. The fact that wages are rising faster than inflation, cut in half in a year, and continues to fall with unemployment remaining low, and no increases, is the clearest indicator you can have that Bidenomics is working.
You know what doesn't work? Supply side economics, and we have 40 years of proof of that.
Want to make things even better? Get rid of every single Reagan, Bush, and Trump policy, which has killed the biggest post WW2 expansion in history, and is the main cause of our $30 trillion debt.
RoshawnMarkwees
Assimilationist
Yep. Like slowing the pace of a sinking ship. It’s still sinking.
otto105
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More people in the work force reduces wage driven inflation.
HikerGuy83
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Bidenomics is killing working folks. This is why we have had 30 months straight of people's real wages going down. That means a pay cut each month for 30 months under Biden.
Joe is a disaster of epic proportions.
Inflation rose by an annual rate of 3.2% in July, reflecting the first increase after a year of cooling prices.
The Consumer Price Index, a basket of goods and services typically purchased by consumers, grew at an annual rate just below economists' forecast of 3.3%, according to FactSet. On a monthly basis, inflation rose 0.2%, the Labor Department said Thursday.
The uptick, the first increase in the pace of growth since June 2022, is due partly to higher housing and food costs. Even so, economists said underlying press pressures are easing, and that the economy is showing signs that price increases will continue cooling.
Inflation rose 3.2% in July, marking the first increase after a year of falling prices
Though far from its recent peak of 9.1% in June 2022, the figure remains higher than the Federal Reserve's goal of 2%.
The people at Lowe's tell me that prices are getting ready to take off again.
Plywood is 3X as expensive as it used to be pre-covid.
I am not sure just what is going on, but prices at the grocery store are not relaxing AT ALL.
HikerGuy83
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But isn't that the core of Bidenomics....help the lower and middle class. In this case, food prices will have to go up because wages will have to go up to get people to work those jobs.
I am wondering if all our strong-backed high-schoolers [sarcasm] can get out and make a dent ?
HikerGuy83
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How is it that we can't admit a president does not have much influence on the economy. Even with tax cuts.
Biden's proposals are not popular. And as near as I can tell he's not raised taxes on the wealthy like he wants to.
So what part of Bidenomics is working again ?
Additionally, we are post COVID and will be for a while.
Prices jumped during that time (housing rocketed) and it has not come down much.
Biden's proposals are not popular. And as near as I can tell he's not raised taxes on the wealthy like he wants to.
So what part of Bidenomics is working again ?
Additionally, we are post COVID and will be for a while.
Prices jumped during that time (housing rocketed) and it has not come down much.
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