#46 President Joe Biden

mace1229 · October 2023

mrussel1 said:

mace1229 said:

I found the last page funny. JB made some claims, was asked to provide evidence. He does, then is poked fun at for using Google search and for being conservative while citing CNN.
But as far as the economy, it just defines how you define a strong economy. If your metrics are employment and wages, then it looks good. Employment is way down, wages are up.
But if you consider other factors, it doesn't look as good. More Americans are living paycheck to paycheck, many of the raises haven't kept up with the record inflation we had last year. More Americans can't afford to buy a home. Workers will not be able to afford to retire until later.
It seems to me the upper class has done well, the lower-middle class hasn't; and the gap has gotten wider.
The housing is insane. If you don't own a house now, I don't see how you ever will unless you inherit one or come from an upper class family. Houses that sold for 200k 5 years ago are now selling for 500k, with 3 times the interest rate.

One data point is not evidence. We all know that too many Americans live paycheck to paycheck. But that's been the story for years. Show the trendline over 20 years. Were things really good until 2021 and now suddenly 10% of the population living P2P jumps from 10 to 50%? I would seriously doubt it. We're all capable of applying critical thinking. Second, if you are going to criticize the president for that situation, then presumably there are legislative ways out of it that he isn't taking. Well what are they? What has the GOP led House done to abate inflation? Do you know?

I couldn't find anything that showed for the last 20 years. But every source I saw cited it increasing anywhere from 2% to 10% in just the last year.
This one claims 6%. I'm not familiar with this source, so can't comment on them specifically, but was right in the middle of what I've been seeing.
https://www.prnewswire.com/news-releases/survey-reveals-six-percent-increase-in-americans-living-paycheck-to-paycheck-in-just-one-year-301928853.html

Gern Blansten · October 2023

mace1229 said:

mrussel1 said:

mace1229 said:

I found the last page funny. JB made some claims, was asked to provide evidence. He does, then is poked fun at for using Google search and for being conservative while citing CNN.
But as far as the economy, it just defines how you define a strong economy. If your metrics are employment and wages, then it looks good. Employment is way down, wages are up.
But if you consider other factors, it doesn't look as good. More Americans are living paycheck to paycheck, many of the raises haven't kept up with the record inflation we had last year. More Americans can't afford to buy a home. Workers will not be able to afford to retire until later.
It seems to me the upper class has done well, the lower-middle class hasn't; and the gap has gotten wider.
The housing is insane. If you don't own a house now, I don't see how you ever will unless you inherit one or come from an upper class family. Houses that sold for 200k 5 years ago are now selling for 500k, with 3 times the interest rate.

One data point is not evidence. We all know that too many Americans live paycheck to paycheck. But that's been the story for years. Show the trendline over 20 years. Were things really good until 2021 and now suddenly 10% of the population living P2P jumps from 10 to 50%? I would seriously doubt it. We're all capable of applying critical thinking. Second, if you are going to criticize the president for that situation, then presumably there are legislative ways out of it that he isn't taking. Well what are they? What has the GOP led House done to abate inflation? Do you know?

I couldn't find anything that showed for the last 20 years. But every source I saw cited it increasing anywhere from 2% to 10% in just the last year.
This one claims 6%. I'm not familiar with this source, so can't comment on them specifically, but was right in the middle of what I've been seeing.
https://www.prnewswire.com/news-releases/survey-reveals-six-percent-increase-in-americans-living-paycheck-to-paycheck-in-just-one-year-301928853.html

Do you support increasing the minimum wage?

mickeyrat · October 2023

https://twitter.com/sentdefender/status/1717723987017445515?t=HWicwsjkY0FZE6mOoxwGog&s=19

mickeyrat · October 2023

https://twitter.com/BidenHQ/status/1717611865994408421?t=jqT8BtxwzFbsOLDZoc_3gw&s=19

The Juggler · October 2023

mace1229 said:

I found the last page funny. JB made some claims, was asked to provide evidence. He does, then is poked fun at for using Google search and for being conservative while citing CNN.
But as far as the economy, it just defines how you define a strong economy. If your metrics are employment and wages, then it looks good. Employment is way down, wages are up.
But if you consider other factors, it doesn't look as good. More Americans are living paycheck to paycheck, many of the raises haven't kept up with the record inflation we had last year. More Americans can't afford to buy a home. Workers will not be able to afford to retire until later.
It seems to me the upper class has done well, the lower-middle class hasn't; and the gap has gotten wider.
The housing is insane. If you don't own a house now, I don't see how you ever will unless you inherit one or come from an upper class family. Houses that sold for 200k 5 years ago are now selling for 500k, with 3 times the interest rate.

What?
He started off by asking questions and then either ignored the answers or didn't like the answers...hence his random google searches.

mace1229 · October 2023

But paycheck to paycheck was just one point. Housing is crazy. Houses have doubled in 5 years, causing rent to go up as well. Interest rates have been way up in the last year. Inflation was way up. Cost of cars are way up. I read an article a few months ago that because more people can't afford new cars, the used market has gone way up and people are driving older cars much longer. Which makes repairs and maintenance more costly because auto shops are slammed try to keep older cars running longer than before. Good if you're a mechanic, bad if you're everyone else. It shouldn't be a surprise that more Americans are finding it harder to live on what they make compared to a few years ago.

The Juggler · October 2023

mace1229 said:

But paycheck to paycheck was just one point. Housing is crazy. Houses have doubled in 5 years, causing rent to go up as well. Interest rates have been way up in the last year. Inflation was way up. Cost of cars are way up. I read an article a few months ago that because more people can't afford new cars, the used market has gone way up and people are driving older cars much longer. Which makes repairs and maintenance more costly because auto shops are slammed try to keep older cars running longer than before. Good if you're a mechanic, bad if you're everyone else. It shouldn't be a surprise that more Americans are finding it harder to live on what they make compared to a few years ago.

He was given answers, by multiple people, for the reason these things are happening. He just wasn't happy that the answer wasn't "Joe Biden."

Gern Blansten · October 2023

mace1229 said:

But paycheck to paycheck was just one point. Housing is crazy. Houses have doubled in 5 years, causing rent to go up as well. Interest rates have been way up in the last year. Inflation was way up. Cost of cars are way up. I read an article a few months ago that because more people can't afford new cars, the used market has gone way up and people are driving older cars much longer. Which makes repairs and maintenance more costly because auto shops are slammed try to keep older cars running longer than before. Good if you're a mechanic, bad if you're everyone else. It shouldn't be a surprise that more Americans are finding it harder to live on what they make compared to a few years ago.

There are upper class people that live paycheck to paycheck you know? Some people just are not good with money whether they make $25K/year or $250K/year.

You wouldn't believe how many people I see that make $250-$400K and have no investment income whatsoever.

josevolution · October 2023

Well Trumpolinni did pass that great tax break package that is supposed to trickle down to middle class has it?

Gern Blansten · October 2023

mace1229 said:

But paycheck to paycheck was just one point. Housing is crazy. Houses have doubled in 5 years, causing rent to go up as well. Interest rates have been way up in the last year. Inflation was way up. Cost of cars are way up. I read an article a few months ago that because more people can't afford new cars, the used market has gone way up and people are driving older cars much longer. Which makes repairs and maintenance more costly because auto shops are slammed try to keep older cars running longer than before. Good if you're a mechanic, bad if you're everyone else. It shouldn't be a surprise that more Americans are finding it harder to live on what they make compared to a few years ago.

Another sign of a hot economy. Mechanics are doing great. I used to be able to call my mechanic and get my truck in for maintenance/repair within 1-2 days. Now it's like 10 days. Their prices have increased because of supply and demand.

Our economy ebbs and flows. Gas prices will decrease, food costs will decrease....and at the same time our economy will slow down. Then the GOP will scream about that. But again....they offer NO LEGISLATION to fix anything that they complain about.

HughFreakingDillon · October 2023

Gern Blansten said:

mace1229 said:

But paycheck to paycheck was just one point. Housing is crazy. Houses have doubled in 5 years, causing rent to go up as well. Interest rates have been way up in the last year. Inflation was way up. Cost of cars are way up. I read an article a few months ago that because more people can't afford new cars, the used market has gone way up and people are driving older cars much longer. Which makes repairs and maintenance more costly because auto shops are slammed try to keep older cars running longer than before. Good if you're a mechanic, bad if you're everyone else. It shouldn't be a surprise that more Americans are finding it harder to live on what they make compared to a few years ago.

There are upper class people that live paycheck to paycheck you know? Some people just are not good with money whether they make $25K/year or $250K/year.

You wouldn't believe how many people I see that make $250-$400K and have no investment income whatsoever.

when I complained to a buddy about our disparity in income, he said "I just have more debt than you". true enough. (he's not bad with money, he was referring to bigger house, more cars, etc)

Gern Blansten · October 2023

HughFreakingDillon said:

Gern Blansten said:

mace1229 said:

But paycheck to paycheck was just one point. Housing is crazy. Houses have doubled in 5 years, causing rent to go up as well. Interest rates have been way up in the last year. Inflation was way up. Cost of cars are way up. I read an article a few months ago that because more people can't afford new cars, the used market has gone way up and people are driving older cars much longer. Which makes repairs and maintenance more costly because auto shops are slammed try to keep older cars running longer than before. Good if you're a mechanic, bad if you're everyone else. It shouldn't be a surprise that more Americans are finding it harder to live on what they make compared to a few years ago.

There are upper class people that live paycheck to paycheck you know? Some people just are not good with money whether they make $25K/year or $250K/year.

You wouldn't believe how many people I see that make $250-$400K and have no investment income whatsoever.

when I complained to a buddy about our disparity in income, he said "I just have more debt than you". true enough. (he's not bad with money, he was referring to bigger house, more cars, etc)

I have so many examples of people that look like they live under a bridge but have a million $$ in the bank. It's amazing.

One of my wealthiest clients lives in a very modest home, rarely if ever goes on vacation, and drives modest vehicles. He complains about taxes constantly but his struggle right now is whether or not he wants to buy another commercial building for $8mil. Never stepped foot in college.

I really can't put my finger on what it is about people that either makes them financially responsible or not.

Not that we argue much but I have had some arguments with my wife about some of this stuff. She has the "you can't take it with you" attitude and I'm more about making sure we'll be comfortable until we die. I did cave and put in a pool a few years ago so I'm hoping that keeps her happy for awhile but now she's starting to complain about remodeling the kitchen.

F Me In The Brain · October 2023

HughFreakingDillon said:

Gern Blansten said:

mace1229 said:

But paycheck to paycheck was just one point. Housing is crazy. Houses have doubled in 5 years, causing rent to go up as well. Interest rates have been way up in the last year. Inflation was way up. Cost of cars are way up. I read an article a few months ago that because more people can't afford new cars, the used market has gone way up and people are driving older cars much longer. Which makes repairs and maintenance more costly because auto shops are slammed try to keep older cars running longer than before. Good if you're a mechanic, bad if you're everyone else. It shouldn't be a surprise that more Americans are finding it harder to live on what they make compared to a few years ago.

There are upper class people that live paycheck to paycheck you know? Some people just are not good with money whether they make $25K/year or $250K/year.

You wouldn't believe how many people I see that make $250-$400K and have no investment income whatsoever.

when I complained to a buddy about our disparity in income, he said "I just have more debt than you". true enough. (he's not bad with money, he was referring to bigger house, more cars, etc)

One could argue more debt means that he is indeed not good with money. Lots of info goes into what that evaluation could look like.

HughFreakingDillon · October 2023

F Me In The Brain said:

HughFreakingDillon said:

Gern Blansten said:

mace1229 said:

But paycheck to paycheck was just one point. Housing is crazy. Houses have doubled in 5 years, causing rent to go up as well. Interest rates have been way up in the last year. Inflation was way up. Cost of cars are way up. I read an article a few months ago that because more people can't afford new cars, the used market has gone way up and people are driving older cars much longer. Which makes repairs and maintenance more costly because auto shops are slammed try to keep older cars running longer than before. Good if you're a mechanic, bad if you're everyone else. It shouldn't be a surprise that more Americans are finding it harder to live on what they make compared to a few years ago.

There are upper class people that live paycheck to paycheck you know? Some people just are not good with money whether they make $25K/year or $250K/year.

You wouldn't believe how many people I see that make $250-$400K and have no investment income whatsoever.

when I complained to a buddy about our disparity in income, he said "I just have more debt than you". true enough. (he's not bad with money, he was referring to bigger house, more cars, etc)

One could argue more debt means that he is indeed not good with money. Lots of info goes into what that evaluation could look like.

I'm talking about assets though. not credit card debt

mickeyrat · October 2023

Gern Blansten said:

HughFreakingDillon said:

Gern Blansten said:

mace1229 said:

But paycheck to paycheck was just one point. Housing is crazy. Houses have doubled in 5 years, causing rent to go up as well. Interest rates have been way up in the last year. Inflation was way up. Cost of cars are way up. I read an article a few months ago that because more people can't afford new cars, the used market has gone way up and people are driving older cars much longer. Which makes repairs and maintenance more costly because auto shops are slammed try to keep older cars running longer than before. Good if you're a mechanic, bad if you're everyone else. It shouldn't be a surprise that more Americans are finding it harder to live on what they make compared to a few years ago.

There are upper class people that live paycheck to paycheck you know? Some people just are not good with money whether they make $25K/year or $250K/year.

You wouldn't believe how many people I see that make $250-$400K and have no investment income whatsoever.

when I complained to a buddy about our disparity in income, he said "I just have more debt than you". true enough. (he's not bad with money, he was referring to bigger house, more cars, etc)

I have so many examples of people that look like they live under a bridge but have a million $$ in the bank. It's amazing.

One of my wealthiest clients lives in a very modest home, rarely if ever goes on vacation, and drives modest vehicles. He complains about taxes constantly but his struggle right now is whether or not he wants to buy another commercial building for $8mil. Never stepped foot in college.

I really can't put my finger on what it is about people that either makes them financially responsible or not.

Not that we argue much but I have had some arguments with my wife about some of this stuff. She has the "you can't take it with you" attitude and I'm more about making sure we'll be comfortable until we die. I did cave and put in a pool a few years ago so I'm hoping that keeps her happy for awhile but now she's starting to complain about remodeling the kitchen.

happy wife. happy life.

HughFreakingDillon · October 2023

Gern Blansten said:

HughFreakingDillon said:

Gern Blansten said:

mace1229 said:

But paycheck to paycheck was just one point. Housing is crazy. Houses have doubled in 5 years, causing rent to go up as well. Interest rates have been way up in the last year. Inflation was way up. Cost of cars are way up. I read an article a few months ago that because more people can't afford new cars, the used market has gone way up and people are driving older cars much longer. Which makes repairs and maintenance more costly because auto shops are slammed try to keep older cars running longer than before. Good if you're a mechanic, bad if you're everyone else. It shouldn't be a surprise that more Americans are finding it harder to live on what they make compared to a few years ago.

There are upper class people that live paycheck to paycheck you know? Some people just are not good with money whether they make $25K/year or $250K/year.

You wouldn't believe how many people I see that make $250-$400K and have no investment income whatsoever.

when I complained to a buddy about our disparity in income, he said "I just have more debt than you". true enough. (he's not bad with money, he was referring to bigger house, more cars, etc)

I have so many examples of people that look like they live under a bridge but have a million $$ in the bank. It's amazing.

One of my wealthiest clients lives in a very modest home, rarely if ever goes on vacation, and drives modest vehicles. He complains about taxes constantly but his struggle right now is whether or not he wants to buy another commercial building for $8mil. Never stepped foot in college.

I really can't put my finger on what it is about people that either makes them financially responsible or not.

Not that we argue much but I have had some arguments with my wife about some of this stuff. She has the "you can't take it with you" attitude and I'm more about making sure we'll be comfortable until we die. I did cave and put in a pool a few years ago so I'm hoping that keeps her happy for awhile but now she's starting to complain about remodeling the kitchen.

I'm terrible with money. always have been. ever since money came into my life in the form of an allowance. would spend it all instantly. I'd go to the toy store and I'd be disappointed if I didn't find something to spend my money on.

for me, it's filling the happiness hole. I've been struggling with the cycle of "fuck, I have to stop spending" and I'm responsible a good while. then I fall back into it. Buying Lost Dogs on vinyl for instance. No WAY I should have forked out $450US on that. or that stupid Pearl Jam baseball bat. or most of the records and posters (and all merch really). It's just a personality flaw.

mrussel1 · October 2023

mace1229 said:

But paycheck to paycheck was just one point. Housing is crazy. Houses have doubled in 5 years, causing rent to go up as well. Interest rates have been way up in the last year. Inflation was way up. Cost of cars are way up. I read an article a few months ago that because more people can't afford new cars, the used market has gone way up and people are driving older cars much longer. Which makes repairs and maintenance more costly because auto shops are slammed try to keep older cars running longer than before. Good if you're a mechanic, bad if you're everyone else. It shouldn't be a surprise that more Americans are finding it harder to live on what they make compared to a few years ago.

You're smarter than this. You can't say "interest rates are way up" and then say "inflation is way up". It's like you're living in the moment with no context. Interest rates are intentionally up to cool inflation. And it is clearly working. YOY inflation is way down from the peak. It doesn't happen overnight. And we all know that inflation sky rocketed world wide when demand for good and fuel exploded before the supply chains were ready post-pandemic. You know all of this.

And housing prices are NOT up because of inflation. Housing prices exploded because people were de-leveraged on debt coming out of the pandemic and flush with cash. Interest rates were still historically low and so bidding wars ensued. Much of this has to do with the lack of affordable housing in this country. But unless you are arguing that the federal gov't should start building houses for people, this is a market issue, not a gov't one.

Halifax2TheMax · October 2023

I’d be willing to wager that the majority of those folks living paycheque to paycheque have the latest iPhone, with the unlimited data plan, 60” flat screen tv, with the premium cable package, live well outside of where they work and drive a car or truck with all the bells and whistles and shitty mpg, and maybe a few kids. Just a guess. Whatever happened to “personal responsibility?”

mickeyrat · October 2023

https://twitter.com/BidenHQ/status/1717529707506200892?t=u0EZevia9Fh5RCb1tT048w&s=19

mrussel1 · October 2023

HughFreakingDillon said:

Gern Blansten said:

HughFreakingDillon said:

Gern Blansten said:

mace1229 said:

But paycheck to paycheck was just one point. Housing is crazy. Houses have doubled in 5 years, causing rent to go up as well. Interest rates have been way up in the last year. Inflation was way up. Cost of cars are way up. I read an article a few months ago that because more people can't afford new cars, the used market has gone way up and people are driving older cars much longer. Which makes repairs and maintenance more costly because auto shops are slammed try to keep older cars running longer than before. Good if you're a mechanic, bad if you're everyone else. It shouldn't be a surprise that more Americans are finding it harder to live on what they make compared to a few years ago.

There are upper class people that live paycheck to paycheck you know? Some people just are not good with money whether they make $25K/year or $250K/year.

You wouldn't believe how many people I see that make $250-$400K and have no investment income whatsoever.

when I complained to a buddy about our disparity in income, he said "I just have more debt than you". true enough. (he's not bad with money, he was referring to bigger house, more cars, etc)

I have so many examples of people that look like they live under a bridge but have a million $$ in the bank. It's amazing.

One of my wealthiest clients lives in a very modest home, rarely if ever goes on vacation, and drives modest vehicles. He complains about taxes constantly but his struggle right now is whether or not he wants to buy another commercial building for $8mil. Never stepped foot in college.

I really can't put my finger on what it is about people that either makes them financially responsible or not.

Not that we argue much but I have had some arguments with my wife about some of this stuff. She has the "you can't take it with you" attitude and I'm more about making sure we'll be comfortable until we die. I did cave and put in a pool a few years ago so I'm hoping that keeps her happy for awhile but now she's starting to complain about remodeling the kitchen.

I'm terrible with money. always have been. ever since money came into my life in the form of an allowance. would spend it all instantly. I'd go to the toy store and I'd be disappointed if I didn't find something to spend my money on.

for me, it's filling the happiness hole. I've been struggling with the cycle of "fuck, I have to stop spending" and I'm responsible a good while. then I fall back into it. Buying Lost Dogs on vinyl for instance. No WAY I should have forked out $450US on that. or that stupid Pearl Jam baseball bat. or most of the records and posters (and all merch really). It's just a personality flaw.

I would suggest unloading that Lost Dogs to me for a hundo. The reissue is coming and you're going to get stuck with it. Make the right call now... you know my PM.

#46 President Joe Biden

Comments

Categories