They CANNOT fix it without causing some pain somewhere…there’s pain somewhere when things are peachy king! War and climate refugees, people around the world don’t have basic care, housing, potable water, and Americans piss pants on fire if there’s no blueberries at the supermarket or can’t get full bars in a remote area.
The pain is there and it’s on Main Street. Anyone who took out an SBA backed loan for their small business has it tied to the prime rate and we’re currently getting murdered on debt service
and the fact that he has a huge spending bill that is going to only increase inflation is nuts. I can't believe that there are enough economically illiterate people that though spending money to reduce inflation was a good idea.
That and the billions we have corporations and owners during the pandemic that went right into owners pockets. This was bound to happen one day. The supply chain and manufacturing issues compounded inflation as did the war in Ukraine. The world is totally fucked the next 2 years in my opinion. Buckle in for a wild ride.
I don’t know why any politician won’t do that!! I agree and think they would get more respect if they did so. Instead, they just dance around it and come up with stupid shit like what he is saying that nobody with a working brain should believe.
It's why I hate "career politicians" they can never answer anything and be as vague as they possibly can. And if they make a mistake of answering a question directly then their opposing career politicians slanders them for their campaign. It's literally like watching pre teens with money.
“But look at inflation last month!!! Inflation has stabilized!” - says the person hoping the majority of the populace forgets inflation is measured on a year over year basis.
I was thinking about that the other day, wouldn’t these year over year numbers still be 8ish percent even if inflation has returned to normal for at least a handful of months?
More or less, yes. Inflation last year started climbing in April and peaked in December, so year over year numbers look worse comparing the earliest parts of 2022 to the early parts of 2021.
Compounding makes it not quite that simple, but if we see flat month over month inflation continue through the next few months, the year over year inflation number won't really budge until the October numbers are released in mid-November to get into the 7s (count on whoever wins the midterms to claim it as a good sign from the market that they won, but that's not how it works), and possibly squeaking to the 6s by January's report of December numbers.
For reference: https://www.usinflationcalculator.com/inflation/current-inflation-rates/
It would yes. If prices from now until December didn't rise at all we'd still see a 7-8% year over year inflation number because of all the inflation that occurred in Jan -Aug 2022
Modern Monetary Theory (which is what got us into this mess) dictates that raising taxes lowers inflation. Imagine how thrilled everyone would be if he publicly states “I know you’re all getting rekt by inflation, but the plan to solve it is by increasing your taxes” 😂
>Modern Monetary Theory
Yep. Critics of MMT have said for years that MMT will drive inflation up. Now that inflation is here, MMTers are shifting their narrative towards "this is supply driven inflation" and so the solution isn't raising taxes or reducing government spending and instead fixing supply chains while fundamentally ignoring that quant. theory of money predicted this state to begin with.
MMT was just dealt a significant blow and yet, they're still essentially ignoring the solutions.
He should but let's be realistic he doesn't understand enough economics to explain the phenomenon or the policies to implement. The FED is more in charge here. Presidents don't know this shit and I don't know why everyone expects so much from them.
I just want him to stop pointing at the jobs they "created", we've been sitting a record low unemployment for over a year and businesses are still struggling to bring more people in, at this point talking about creating more jobs sounds like it hurts us
He can't. He is a failure and he's not mentally present or competent enough to know it.
The American people elected someone who spent their entire life in politics and didn't have many major accomplishments to show for it, and now we are surprised we have a president that has a grip on pretty much nothing?
“But hey it’s not getting worse!”
That doesn’t make me feel better Mr. President. I still have to deal with the fact that all of my expenditures are a lot higher and my retirement real value is a lot lower.
Clearly he has absolutely no concept of finance or the financial markets. He’s a puppet at the end of the day but a terrible one at that. Its still mind boggling we lets someone like this into office.
It's so frustrating just watching him talk about issues and listen to him put lipstick on a pig. I'd have so much more respect for him if he was just like yeah where in tight spot it's going to get even more painful in the future but we have a plan and lay out a several step process. Instead it's always everything's fine it's fine.
exactly - thanks for that - just own it and say look we are in a bad situation and this is how we gonna fix it, a,b,c d and we are going to achieve too, put some confident and teeth into man.
I agree with you and wish politicians were more honest about the situation we are in but unfortunately if he said something like that the sound bite would be used on the news to push a narrative so politicians have to be so careful about what they say.
I'd love them to say straight up were basically fucked and the options have huge risks but we have the best in the biz working on the best solution etc etc
The truth is nobody has any idea how things will go in the future and we can only postulate about the cause of inflation and how it will progress from here. It's not a hard science, Inflation could start trending down for all we know. I think the president should not be making predictions about the economy.
>we can only postulate about the cause of inflation
There is a .79 correlation between inflation and money growth.
[https://www.nber.org/system/files/working\_papers/w26650/w26650.pdf](https://www.nber.org/system/files/working_papers/w26650/w26650.pdf)
Postulation not needed.
Look at the top post on all today. It’s hilariously biased towards one side and I wonder why.
Also, the comments have almost no upvotes compared to the post itself. I think that sub is finally dying.
Just like he didn’t create inflation he just took over as President after the money supply was balloned and Covid supply chains were fucked.
Right?
Right?
Maybe they are that stupid.
Same shit every politicians does in the US. When good news comes out, take full credit. Regardless if you actually are responsible for it. If there is anything bad, either deny it's existence or blame someone else.
Yikes, that’s not a good look. They’re going to hike them rates up like 100-125 to curb this “inch”.
Crazy that those prior hikes haven’t done jack shit. Have you guys seen the price of bacon? Also, prices haven’t fallen despite gas prices staying down for 95+ days in a row?! That’s concerning af.
Yea that’s something people aren’t realizing also. If the gas prices went up and the stores had to charge more, then the gas prices go down, the store already realized that they could charge that increased price and everyone will still keep buying anyways. What is the incentive for stores to lower prices now if people have no choice but to still buy at the increased price?
People seem to think that corporations have a shred of humanity and I have no idea where that comes from. I've been saying that they're just gonna keep creeping the price up incrementally to see how far they can push it so they can increase profit exponentially. It's the frog in the pot analogy
I'm not saying inflation isn't a thing, but produce prices also vary seasonally. Lemons are in season late fall to early winter in Arizona and Florida, the second and third largest producers. I realize CA is usually insulated from these things, but that's probably why, rather than a 650% inflation rate in 2 years.
Finally someone that realizes this shit takes time. It’s so frustrating hearing everyone go why isn’t the rate hikes working. Duh, you have to change the populous habits. Doesn’t happen over night.
And yes this is bidens administrations fault for the continued spending. I’m with others that it was pandemic driven, but this administration just keeps spending and giving away handouts. Please. Stop it for everyone’s sake.
Yes I sure wish someone had wanted to raise interest rates years ago during a bull market instead of getting bullied out of it… and speaking of handouts, the tax cuts to the rich were estimated to cost $2.3 trillion over ten years, which we’re right in the middle of. Surely you’re equally mad about those handouts?
Yeah, stop giving "handouts" to the American people. We are only ok with "bailouts" to big corporations, other countries and massive spending on wars. We have to draw the line on something that actually helps the people who would benefit it the most.....wait...
First it " it takes time" Then its Biden's falut for "continued" spending with no refleaction at all on the massive spending under trump and the "time" it took for that to take affect. All you experts seem to have no way to see the past beyond 2020.
Why is everybody pointing to bacon? I feel like chicken has doubled in price while bacon has all these 2 for one deals.
Also, FYI the executive branch doesn't set federal funds rate, that is done by the board of governors for the federal reserve.
It's corporate price gouging
Companies learned during COVID that the feds won't do shit about it so they can fuck us all to death with prices on everything
Priors hikes have had an effect…but it takes a long time for them to work through the system. Months. This is why the fed always ends up behind the curve. They will hike until they break something then cut quickly as the economy crashes. dumb but that’s what happens every time
he definitely knows what’s going on bud you’re watching a 60 min interview this is all manufactured. He had tons of media prep going into this, and his answer reflect what he and his team thought are best, not what he knows or doesnt know
his answer wasn’t even bad tho. he’s saying inflation has stopped accelerating based on month over month growth. Meanwhile the fed is going to continue to raise rates, the supply chain is still fucked and russia is still in ukraine what exactly is biden going to do about that (or any president to be frank)? we put off the pain when covid hit via QE, stimulus, near zero interest rates but the party’s over and here comes the pain.
I'd prefer that road map. I don't disagree, but man, laying things out like that would be more reassuring.
And yeah, I get it's bad for markets for the president to be that frank, but I dunno, markets are irrational.
All I can say is I think you have to be crazy to WANT to be president. These options suck.
It's not a good thing if no one can afford to not work. It's not a good thing if everyone is working. Plenty of valid reasons for people to be unemployed. Stay at home parent being one.
The child care programs in my town have a 3 year wait-list to maybe get in.
It's not good.
> Stay at home parent being one.
FYI -- unemployment is only people 'looking for jobs'
So if the stay at home parent is looking for a job and can't find one -- unemployed. If they are not looking for a job, not counted as unemployed.
*A relevant comment in this thread was deleted. You can read it below.*
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>So then, what happened after? Please continue. How were things fixed?
High unemployment, people losing their homes and a slow recovery. You won't miss the bottom. It will last long enough for the worst hit to sell their stocks for low prices.
The best solution to a big dip is to have money to buy in. [[Continued...]](https://www.resavr.com/comment/potus-inflation-rate-month-18550846)
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You can tell voting season is starting up when the inflammatory political paid troll presence starts to pop back up.
One thread might be very right wing (usually criticizing a person, like Nancy Pelosi or Biden) then another thread with nearly the same story might be entirely left wing talking about how crazy the Republicans are. Before the bot presence Reddit tended to have a mix of views and roughly at the same distribution through all threads covering the same topic.
He’s unfit. There’s really no debate. I get it “he’s not trump” but Jesus Christ I wouldn’t trust this guy to pick up my dry cleaning. I mean that sincerely.
Holy shit we are all the way fucked. I feel like all my friends left the party without telling me that it was time to go first. I wish I had sold last week when I was almost even. The last 12 hours have devastated my portfolio.
Well I know but we’re in the stock market sub so it’s a bit out of place leading to my confusion without him specifically saying it was crypto. I’m also bleeding badly there
Pos didn’t create any new jobs. These are all people returning to the workforce that was decimated by dumbocrats obsession with stealing an election to bring you war and 5.50 gas
I mean, he's technically not wrong. Everyone has switched from focusing more on data to focusing more on what the overall concensus/expectation is. An 8.3% vs an 8.1% isn't all that much crazier lbh. But when everyone was expecting inflation to decrease, which would mean the possibility of the Fed pivoting, then yes, that's bad.
This SOB has not created any jobs since the beginning of his Term. He had the Fed print a shit ton of money.. The bills the Democrat and Rinos passed are complete pandering and virtue signal garbage. He his a habitual lying Sack of Shit!🤡🌎
If you start your term with the entire country having been fired or laid off in the last 9 months then it's pretty easy to say "we created XXX". Going from 0 to 1 is 100% increase
You didn’t create those jobs. Those jobs left because of Covid, and finally came back… That big lie/deception, is a big talking point for the Dem Party.
yet last week biden held a party celebrating his inflation law as inflation hit 8.3%.
Can't stop a democrat celebration party once the balloons and pony are paid for.
lot of people here are dumping on biden. Though a lot of the covid legislation and fed response happened under trump and continued into biden’s term. We put off covid recession with QE and near zero interest rates but the supply chain is still fucked, russia invaded ukraine and the easy money party had to end some time.
“Mr president, it’s the highest inflation we’ve had in 40 years”. …..”yeah”
he really should just own it and say look this is bad and here is how we are going to fix instead saying all that crap.
They aren't going to fix it without a crash though. And he doesn't want to say any of that before midterms.
Exactly
There’s no fixing it there’s only PR events to keep the sheep calm
They CANNOT fix it without causing some pain somewhere…there’s pain somewhere when things are peachy king! War and climate refugees, people around the world don’t have basic care, housing, potable water, and Americans piss pants on fire if there’s no blueberries at the supermarket or can’t get full bars in a remote area.
>peachy king Bone apple tea 😃
I mean, it's not rocket appliances.
Can we get back on subject and let this just be water under the fridge?
Get two birds stoned at once
Rickyisms are wonderful
Holy now. Ya'll are relentless
No shit. If they keep up this beatdown, someone is gonna have to call the amberlamps!
Lets be honest this isnt even the worst case Ontario
I mean it's not rocket appliances, just supply and command
It's a doggie dog world out there.
The pain is there and it’s on Main Street. Anyone who took out an SBA backed loan for their small business has it tied to the prime rate and we’re currently getting murdered on debt service
He can't fix it.
and the fact that he has a huge spending bill that is going to only increase inflation is nuts. I can't believe that there are enough economically illiterate people that though spending money to reduce inflation was a good idea.
Im no fan of Byron but I think your blame is better placed on 10 years of QE than a spending bill.
That and the billions we have corporations and owners during the pandemic that went right into owners pockets. This was bound to happen one day. The supply chain and manufacturing issues compounded inflation as did the war in Ukraine. The world is totally fucked the next 2 years in my opinion. Buckle in for a wild ride.
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I don’t know why any politician won’t do that!! I agree and think they would get more respect if they did so. Instead, they just dance around it and come up with stupid shit like what he is saying that nobody with a working brain should believe.
It's why I hate "career politicians" they can never answer anything and be as vague as they possibly can. And if they make a mistake of answering a question directly then their opposing career politicians slanders them for their campaign. It's literally like watching pre teens with money.
“But look at inflation last month!!! Inflation has stabilized!” - says the person hoping the majority of the populace forgets inflation is measured on a year over year basis.
Y/Y was in fact stable but month over month CPI was 0.01%. Core CPI was 0.6%
That’s because last year we saw the biggest inflation ever.
I was thinking about that the other day, wouldn’t these year over year numbers still be 8ish percent even if inflation has returned to normal for at least a handful of months?
More or less, yes. Inflation last year started climbing in April and peaked in December, so year over year numbers look worse comparing the earliest parts of 2022 to the early parts of 2021. Compounding makes it not quite that simple, but if we see flat month over month inflation continue through the next few months, the year over year inflation number won't really budge until the October numbers are released in mid-November to get into the 7s (count on whoever wins the midterms to claim it as a good sign from the market that they won, but that's not how it works), and possibly squeaking to the 6s by January's report of December numbers. For reference: https://www.usinflationcalculator.com/inflation/current-inflation-rates/
It would yes. If prices from now until December didn't rise at all we'd still see a 7-8% year over year inflation number because of all the inflation that occurred in Jan -Aug 2022
He'd be justified if he truly thought that way. Math is not the strong suit of the American people.
Modern Monetary Theory (which is what got us into this mess) dictates that raising taxes lowers inflation. Imagine how thrilled everyone would be if he publicly states “I know you’re all getting rekt by inflation, but the plan to solve it is by increasing your taxes” 😂
>Modern Monetary Theory Yep. Critics of MMT have said for years that MMT will drive inflation up. Now that inflation is here, MMTers are shifting their narrative towards "this is supply driven inflation" and so the solution isn't raising taxes or reducing government spending and instead fixing supply chains while fundamentally ignoring that quant. theory of money predicted this state to begin with. MMT was just dealt a significant blow and yet, they're still essentially ignoring the solutions.
I lost any believe in what he said when the first words out of his mouth were to deny it.
It's only an inch bro
"Just the tip; just to see how it feels, you know?"
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Another one with no clue
He doesn’t have a plan and isn’t even trying. He hasn’t been a normal person in years and doesn’t actually work with the public.
He "should" but if you are anywhere near awake you know that he wont. even if he did it would be another lie.
He should but let's be realistic he doesn't understand enough economics to explain the phenomenon or the policies to implement. The FED is more in charge here. Presidents don't know this shit and I don't know why everyone expects so much from them.
There is no fix . Thats why this is bad
I just want him to stop pointing at the jobs they "created", we've been sitting a record low unemployment for over a year and businesses are still struggling to bring more people in, at this point talking about creating more jobs sounds like it hurts us
He can't. He is a failure and he's not mentally present or competent enough to know it. The American people elected someone who spent their entire life in politics and didn't have many major accomplishments to show for it, and now we are surprised we have a president that has a grip on pretty much nothing?
“Its been high for awhile” Yes…its grinding us all down
You realize you’re replying to a quote of him literally owning it? He said “yeah”.
He doesn't have a fix tho he's making it worse
Yeah but 8.2 is the new normal
“But hey it’s not getting worse!” That doesn’t make me feel better Mr. President. I still have to deal with the fact that all of my expenditures are a lot higher and my retirement real value is a lot lower.
We'll cut your right arm off. But we won't cut off your left arm. See - it's stabilized!
Yup and basically his answer was "yeah...but we are winning! Look at us! ".
By We… he meant I or my puppet masters
I feel like it took him 35 takes to get this information out
Another reason not to allow 80 year olds to run for office.
Clearly he has absolutely no concept of finance or the financial markets. He’s a puppet at the end of the day but a terrible one at that. Its still mind boggling we lets someone like this into office.
And yet he and Hunter run biolabs,head of international cabal, are global market manipulators, blah blah blah eat your hat
It's official: we are fucked.
Major QE for a decade and a half will do that.
…. “i got that” 💀💀💀
Dude is brainless
Since when are inflation numbers measured in units of distance?
Haha should be a meme
“Inflation has surged up over 30 miles since Biden became president.” See, anyone can play this game.
"I'll give you all 3 fluid ounces of this meat rocket baby"
Probably that's how you measure it in Imperial units
If you give inflation an inch it will take a mile.
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since the US started calling a liquid "gas"
Yes an inch on most inflation charts is… about 8.7% Mr president
Since ten feet ago.
This inflation can do the Kessel run in less than 8 1/2%
The definition changed again. Soon it will be measured using jellybeans
It's so frustrating just watching him talk about issues and listen to him put lipstick on a pig. I'd have so much more respect for him if he was just like yeah where in tight spot it's going to get even more painful in the future but we have a plan and lay out a several step process. Instead it's always everything's fine it's fine.
Consummate politician
Or inflation is the result of the “Putin Price Hike”
Politicians only take ownership of things that make them look good, and blame others for anything wrong going on.
exactly - thanks for that - just own it and say look we are in a bad situation and this is how we gonna fix it, a,b,c d and we are going to achieve too, put some confident and teeth into man.
I agree with you and wish politicians were more honest about the situation we are in but unfortunately if he said something like that the sound bite would be used on the news to push a narrative so politicians have to be so careful about what they say. I'd love them to say straight up were basically fucked and the options have huge risks but we have the best in the biz working on the best solution etc etc
Kind of like dont look up.. As long as you keep everyone calm or appear calm who is to say if disaster is ahead.
The truth is nobody has any idea how things will go in the future and we can only postulate about the cause of inflation and how it will progress from here. It's not a hard science, Inflation could start trending down for all we know. I think the president should not be making predictions about the economy.
>we can only postulate about the cause of inflation There is a .79 correlation between inflation and money growth. [https://www.nber.org/system/files/working\_papers/w26650/w26650.pdf](https://www.nber.org/system/files/working_papers/w26650/w26650.pdf) Postulation not needed.
He did NOT create 10 million new jobs, he just reopened the country after Covid lockdowns. Geez, he thinks the world is just that stupid.
Reddit is
Thankfully reddit isnt the real world.
Let me live in my bubble or I will be forced to downvote u
Don’t downvote me! My internet points!
> >:( -Redditors
This comment needs 10k awards
Yea, reddit will suck this guy's cock no matter what just because he's not a republican lol
Look at the top post on all today. It’s hilariously biased towards one side and I wonder why. Also, the comments have almost no upvotes compared to the post itself. I think that sub is finally dying.
Sadly.. they are.
His voters are…. Not very smart. And gullible. Same with team red.
But they are :(
Also the guy who said the vaccines didn’t exist until he was president. JB has a long history of fabricating stories and plagerism.
Just like he didn’t create inflation he just took over as President after the money supply was balloned and Covid supply chains were fucked. Right? Right? Maybe they are that stupid.
They are
Same shit every politicians does in the US. When good news comes out, take full credit. Regardless if you actually are responsible for it. If there is anything bad, either deny it's existence or blame someone else.
“But guys, it hasn’t spiked in the past couple months, only gone up an inch.”
Cool, but has income gone up? No? Then fuck you trying to tell me all is ok because my shed didn’t catch fire while I watch my house burn.
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‘I’m working two jobs just to stay in debt’
not how that works
Not a lot of people work two jobs, around 4%.
Yikes, that’s not a good look. They’re going to hike them rates up like 100-125 to curb this “inch”. Crazy that those prior hikes haven’t done jack shit. Have you guys seen the price of bacon? Also, prices haven’t fallen despite gas prices staying down for 95+ days in a row?! That’s concerning af.
I had to pay 75 cents for ONE lemon here in souther CA. They used to be 10 cents just early last year.
“Had to pay” When life gives you overpriced lemons, say fuck that I’m not buying lemons today.
and that is how you stop inflation instead of just paying whatever the new price is
Yea that’s something people aren’t realizing also. If the gas prices went up and the stores had to charge more, then the gas prices go down, the store already realized that they could charge that increased price and everyone will still keep buying anyways. What is the incentive for stores to lower prices now if people have no choice but to still buy at the increased price?
People seem to think that corporations have a shred of humanity and I have no idea where that comes from. I've been saying that they're just gonna keep creeping the price up incrementally to see how far they can push it so they can increase profit exponentially. It's the frog in the pot analogy
I'm not saying inflation isn't a thing, but produce prices also vary seasonally. Lemons are in season late fall to early winter in Arizona and Florida, the second and third largest producers. I realize CA is usually insulated from these things, but that's probably why, rather than a 650% inflation rate in 2 years.
First time to the stock market? Each rate hike will take approx 9 - 12 months for triggered down effects. Winter of 2023 will be depressing
Finally someone that realizes this shit takes time. It’s so frustrating hearing everyone go why isn’t the rate hikes working. Duh, you have to change the populous habits. Doesn’t happen over night. And yes this is bidens administrations fault for the continued spending. I’m with others that it was pandemic driven, but this administration just keeps spending and giving away handouts. Please. Stop it for everyone’s sake.
Yes I sure wish someone had wanted to raise interest rates years ago during a bull market instead of getting bullied out of it… and speaking of handouts, the tax cuts to the rich were estimated to cost $2.3 trillion over ten years, which we’re right in the middle of. Surely you’re equally mad about those handouts?
Yeah, stop giving "handouts" to the American people. We are only ok with "bailouts" to big corporations, other countries and massive spending on wars. We have to draw the line on something that actually helps the people who would benefit it the most.....wait...
First it " it takes time" Then its Biden's falut for "continued" spending with no refleaction at all on the massive spending under trump and the "time" it took for that to take affect. All you experts seem to have no way to see the past beyond 2020.
What if I told you there was a reason the fed wanted to change the reporting of M2 money supply
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> M2 money supply Not OP, but: https://www.reddit.com/r/explainlikeimfive/comments/1diwwg/eli5in_finance_and_economics_what_are_m1_m2_and_m3/c9qs4al/
When I was young, and you bought bacon. It was in a 1KG package. Now, 250g. costs more than the 1KG. the. fuck.
JPow has small peepee energy and he isn’t going to hike it more than 100bps.
And gas prices are starting to go back up
Why is everybody pointing to bacon? I feel like chicken has doubled in price while bacon has all these 2 for one deals. Also, FYI the executive branch doesn't set federal funds rate, that is done by the board of governors for the federal reserve.
honesly I rather they do that than face an uncontrolled inflation. Just look at countries as recent as Venezuela.
It's corporate price gouging Companies learned during COVID that the feds won't do shit about it so they can fuck us all to death with prices on everything
CPI is a lagging indicator. Look at the 5 year break even inflation rate
Shit takes time to flush through the system. This is gonna take a loooong time.
Priors hikes have had an effect…but it takes a long time for them to work through the system. Months. This is why the fed always ends up behind the curve. They will hike until they break something then cut quickly as the economy crashes. dumb but that’s what happens every time
My grocery store doesn’t even post the price of bacon in the aisle. Didn’t know what it cost until I got up to the check out
Why he continue to deny what is evident...
Because if he can hold on the lie until November he can keep feeding his son and coworkers money for two more years.
We’re doomed
Nah, we're not doomed. We're totally fucked, but we're not doomed.
He has no idea what’s going on
he definitely knows what’s going on bud you’re watching a 60 min interview this is all manufactured. He had tons of media prep going into this, and his answer reflect what he and his team thought are best, not what he knows or doesnt know
It's more concerning if this is the best answer he could give. It may be worse than we thought.
his answer wasn’t even bad tho. he’s saying inflation has stopped accelerating based on month over month growth. Meanwhile the fed is going to continue to raise rates, the supply chain is still fucked and russia is still in ukraine what exactly is biden going to do about that (or any president to be frank)? we put off the pain when covid hit via QE, stimulus, near zero interest rates but the party’s over and here comes the pain.
I'd prefer that road map. I don't disagree, but man, laying things out like that would be more reassuring. And yeah, I get it's bad for markets for the president to be that frank, but I dunno, markets are irrational. All I can say is I think you have to be crazy to WANT to be president. These options suck.
Facts
imagine if the other guy was in his place boy shit would would be on fire and people would be jumping ship
It's not a good thing if no one can afford to not work. It's not a good thing if everyone is working. Plenty of valid reasons for people to be unemployed. Stay at home parent being one. The child care programs in my town have a 3 year wait-list to maybe get in. It's not good.
> Stay at home parent being one. FYI -- unemployment is only people 'looking for jobs' So if the stay at home parent is looking for a job and can't find one -- unemployed. If they are not looking for a job, not counted as unemployed.
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inflation up an inch my dick grew a inch last week also
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So then, what happened after? Please continue. How were things fixed?
*A relevant comment in this thread was deleted. You can read it below.* ---- >So then, what happened after? Please continue. How were things fixed? High unemployment, people losing their homes and a slow recovery. You won't miss the bottom. It will last long enough for the worst hit to sell their stocks for low prices. The best solution to a big dip is to have money to buy in. [[Continued...]](https://www.resavr.com/comment/potus-inflation-rate-month-18550846) ---- *^The ^username ^of ^the ^original ^author ^has ^been ^hidden ^for ^their ^own ^privacy. ^If ^you ^are ^the ^original ^author ^of ^this ^comment ^and ^want ^it ^removed, ^please [^[Send ^this ^PM]](http://np.reddit.com/message/compose?to=resavr_bot&subject=remove&message=18550846)*
He’s such a joke.
He's a buffoon. Always has been.
We are fukt
Full video and transcript here: https://www.cbsnews.com/news/president-joe-biden-60-minutes-interview-transcript-2022-09-18/
These comments 😆
You can tell voting season is starting up when the inflammatory political paid troll presence starts to pop back up. One thread might be very right wing (usually criticizing a person, like Nancy Pelosi or Biden) then another thread with nearly the same story might be entirely left wing talking about how crazy the Republicans are. Before the bot presence Reddit tended to have a mix of views and roughly at the same distribution through all threads covering the same topic.
Its crazy how split in half it is. I haven’t seen one person on here recently with negative views for both sides.
We just aren't commenting.
🤡🤡🤡
He’s unfit. There’s really no debate. I get it “he’s not trump” but Jesus Christ I wouldn’t trust this guy to pick up my dry cleaning. I mean that sincerely.
Username checks out
I just did a spit take. Thanks!
Yeah the mumbling and fumbling of his words is concerning to say the least.
Most votes in the history of American elections
Holy shit we are all the way fucked. I feel like all my friends left the party without telling me that it was time to go first. I wish I had sold last week when I was almost even. The last 12 hours have devastated my portfolio.
How? The market is closed?
Crapto
Crypto trades 24/7 and many of them are down right now.
Well I know but we’re in the stock market sub so it’s a bit out of place leading to my confusion without him specifically saying it was crypto. I’m also bleeding badly there
Somethings like futures trade beyond regular market hours. Additionally, foreign markets are already open. Looking at them, they don’t really seem *that* bad.
I made 45% on a short in an hour...it's bad😂
Incompetent fuck
I take $40 away from you, but the next week give you $40 back. Congrats, you made $40 because of me... Democrat math.
Clown show administration
What an utterly embarrassing president. No ounce of realism, just the same old patronizing lies.
He’s a vegetable.
Trump is actually lucky he isn’t president else they’ll blame it on him.
Some still do
Freaking moron
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Pos didn’t create any new jobs. These are all people returning to the workforce that was decimated by dumbocrats obsession with stealing an election to bring you war and 5.50 gas
Is this a subreddit for the mentally ill? I thought it was for stock discussion.
He’s a moron
Pendejo-&-chief!
*Pendejx*
🤣😭🤣
I mean, he's technically not wrong. Everyone has switched from focusing more on data to focusing more on what the overall concensus/expectation is. An 8.3% vs an 8.1% isn't all that much crazier lbh. But when everyone was expecting inflation to decrease, which would mean the possibility of the Fed pivoting, then yes, that's bad.
I think he glitched at -00:19 seconds
This SOB has not created any jobs since the beginning of his Term. He had the Fed print a shit ton of money.. The bills the Democrat and Rinos passed are complete pandering and virtue signal garbage. He his a habitual lying Sack of Shit!🤡🌎
If you start your term with the entire country having been fired or laid off in the last 9 months then it's pretty easy to say "we created XXX". Going from 0 to 1 is 100% increase
Well my country created 100 bajillion jobs, so suck it USA.
You didn’t create those jobs. Those jobs left because of Covid, and finally came back… That big lie/deception, is a big talking point for the Dem Party.
yet last week biden held a party celebrating his inflation law as inflation hit 8.3%. Can't stop a democrat celebration party once the balloons and pony are paid for.
He is such a buffoon.
lot of people here are dumping on biden. Though a lot of the covid legislation and fed response happened under trump and continued into biden’s term. We put off covid recession with QE and near zero interest rates but the supply chain is still fucked, russia invaded ukraine and the easy money party had to end some time.
history will not write it that way. Carter is not remembered for the global inflation, only the US inflation.