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When people say they economy sucks they mean they can't buy a car right now because the bank will only give them an ass interest rate even with great credit and

by dfxm12 3y ago

When people say they economy sucks they mean they can't buy a car right now because the bank will only give them an ass interest rate even with great credit and the price of groceries has skyrocketed. With regards to grocery prices, what does corporate greed have to do with the president? As for the car, the FED has a big hand in interest rates, and yeah, Biden did choose to re-nominate Powell, but Powell was originally appointed by Trump, so I don't know how voters can really say the republican would have done better. The American economy is bad for people under a certain line, yes. The question is why does the media always overplay the economy when Republicans are in power and downplay it when Democrats are?

bendhoefs 3y ago
Anti-monopoly policy is one lever the president has and has been essentially ignored since the 70s in favor talking about the fed the fed the fed all the time. As one example the meat packing industry has become highly consolidated, squeezing both farmers and consumers while extracting massive profits. But across the entire economy many industries have become highly consolidated and subsequently raised their profit margins to the detriment of everyone but shareholders.
- dfxm12 3y ago
  OK, even if one thinks this is specifically failing of Biden (or a generic democratic president) then, realistically, what is a republican going to do about this? Trump in fact favored corporate consolidation in his 2020 Economic Report of the President. The media obviously wasn't talking about this when they were talking about how good the stock market was under Trump...
  - bendhoefs 3y ago
    Do you think I'm saying this because I'm a Republican? Biden has actually been the best president of my lifetime for these issues but that just speaks to how pathetic the Democrats have been on economic issues for decades. Barely opposition at all economically speaking, they differentiate themselves more by wearing Kente cloth and engaging in divisive culture war stuff these days.
thereddaikon 3y ago
>With regards to grocery prices, what does corporate greed have to do with the president? Most people aren't extracting the root causes to high prices. They watch the news, hear there is inflation and go to the store and see prices are high. Even if they had an inclination to, that kind of economic education is not standard. The population at large is very ignorant to how the economy works. They blame the prices on inflation and companies looking to gouge prices know this and take advantage of it. But, corporate greed and monopolies have a lot to do with the president. At least Teddy Roosevelt thought it did. And he did something about it. It's not unreasonable to ask why Biden doesn't. There was a point, brief as it may have been where it at least seemed like our institutions cared more about how the economy effected the common man. >The American economy is bad for people under a certain line, yes. The question is why does the media always overplay the economy when Republicans are in power and downplay it when Democrats are? I should have made this more clear in my first post. But my core point is, public sentiment doesn't care about economic reports. It cares about tangible every day things like prices of goods and interest rates. It doesn't care nor understand the root causes. It blames the guy in charge. For better or worse POTUS is always to blame for the current state of the economy. It comes with the job. Instead of saying the public is stupid, I think its more productive to accept it and work out how best to deal with it. And I don't think they downplay for republicans and exaggerate for democrats. The large media corps are selling a product and outrage helps. The kind of outrage the sells best depends on a lot of things. When trump was president, it was effective to just sell him as the outrage product. Biden is a much more dour and boring person. You have to focus on other things than the personality at the top. Before 9/11, Bush was getting attacked for the economy. He presided over the dot com bust. But with GWOT most criticism for him switched to that. The 2008 recession happened while Obama was in office and had long since left the news cycle by the time he left so duh.

by dfxm12 3y ago

bendhoefs 3y ago

Anti-monopoly policy is one lever the president has and has been essentially ignored since the 70s in favor talking about the fed the fed the fed all the time. As one example the meat packing industry has become highly consolidated, squeezing both farmers and consumers while extracting massive profits. But across the entire economy many industries have become highly consolidated and subsequently raised their profit margins to the detriment of everyone but shareholders.

dfxm12 3y ago
OK, even if one thinks this is specifically failing of Biden (or a generic democratic president) then, realistically, what is a republican going to do about this? Trump in fact favored corporate consolidation in his 2020 Economic Report of the President. The media obviously wasn't talking about this when they were talking about how good the stock market was under Trump...
- bendhoefs 3y ago
  Do you think I'm saying this because I'm a Republican? Biden has actually been the best president of my lifetime for these issues but that just speaks to how pathetic the Democrats have been on economic issues for decades. Barely opposition at all economically speaking, they differentiate themselves more by wearing Kente cloth and engaging in divisive culture war stuff these days.

thereddaikon 3y ago

>With regards to grocery prices, what does corporate greed have to do with the president? Most people aren't extracting the root causes to high prices. They watch the news, hear there is inflation and go to the store and see prices are high. Even if they had an inclination to, that kind of economic education is not standard. The population at large is very ignorant to how the economy works. They blame the prices on inflation and companies looking to gouge prices know this and take advantage of it. But, corporate greed and monopolies have a lot to do with the president. At least Teddy Roosevelt thought it did. And he did something about it. It's not unreasonable to ask why Biden doesn't. There was a point, brief as it may have been where it at least seemed like our institutions cared more about how the economy effected the common man. >The American economy is bad for people under a certain line, yes. The question is why does the media always overplay the economy when Republicans are in power and downplay it when Democrats are? I should have made this more clear in my first post. But my core point is, public sentiment doesn't care about economic reports. It cares about tangible every day things like prices of goods and interest rates. It doesn't care nor understand the root causes. It blames the guy in charge. For better or worse POTUS is always to blame for the current state of the economy. It comes with the job. Instead of saying the public is stupid, I think its more productive to accept it and work out how best to deal with it. And I don't think they downplay for republicans and exaggerate for democrats. The large media corps are selling a product and outrage helps. The kind of outrage the sells best depends on a lot of things. When trump was president, it was effective to just sell him as the outrage product. Biden is a much more dour and boring person. You have to focus on other things than the personality at the top. Before 9/11, Bush was getting attacked for the economy. He presided over the dot com bust. But with GWOT most criticism for him switched to that. The 2008 recession happened while Obama was in office and had long since left the news cycle by the time he left so duh.