as he claims it's all on Biden to make sure the public is aware that inflation is past. We're down to 3% and people need to be aware that it's over.
WTF kind of stupidity is that?
The average worker will forever feel the stomp of Bidenflation on their standard of living as wages didn't keep pace with inflation and there is zero evidence that wages will recover any ground lost before the next election.
It's the attitude of the wealthy that as long as prices aren't obviously continuing to climb, all is well. WRONG. It's not over and it's not forgotten.
People's everyday lives have become harder and harder to make ends meet. That struggle is still with them and they aren't going to suddenly decide America is back on track because some Fed agency spouts some number that doesn't fix a damn thing in their life.
ScottW
as he claims it's all on Biden to make sure the public is aware that inflation is past. We're down to 3% and people need to be aware that it's over.
WTF kind of stupidity is that?
On 7/12/23 7:21 PM, ScottW wrote:
as he claims it's all on Biden to make sure the public is aware that inflation is past. We're down to 3% and people need to be aware that it's over.
WTF kind of stupidity is that?The media seems unwilling to share good economic news: inflation down,
wages up,
On Thursday, July 13, 2023 at 4:24:07 AM UTC-7, mINE109 wrote:
On 7/12/23 7:21 PM, ScottW wrote:
as he claims it's all on Biden to make sure the public is awareThe media seems unwilling to share good economic news: inflation
that inflation is past. We're down to 3% and people need to be
aware that it's over.
WTF kind of stupidity is that?
down, wages up,
Liar...from your own site, "wages have only just started to keep up
with price hikes."
Wages have not kept up with inflation. Not even close. People have
lost real income and just because prices slow their rise doesn't mean
they've regained that real lost income. They feel it every day as
they continue to struggle to balance budgets.
https://www.wsj.com/articles/pandemic-savings-in-u-s-running-out-5317ad4f
It's paywalled but you can see the reality spelled out in the first paragraph.
Savings accumulated during the pandemic by consumers are already
depleted for most U.S. households, BNP Paribas economists write in a
report. They estimate excess savings peaked at $2.2 trillion in
August 2021, allowing consumers to spend “at an above-trend pace over
the last couple years.” Now this dynamic is fading “and looks set to
end soon, with excess household savings likely to be depleted by
year-end.” Without this cushion, the economists write that they
expect consumers “to become increasingly sensitive to labor market dynamics.” They also expect unemployment to rise, which “should
translate to slower spending...
On 7/13/23 10:24 AM, ScottW wrote:
On Thursday, July 13, 2023 at 4:24:07 AM UTC-7, mINE109 wrote:
On 7/12/23 7:21 PM, ScottW wrote:
as he claims it's all on Biden to make sure the public is awareThe media seems unwilling to share good economic news: inflation
that inflation is past. We're down to 3% and people need to be
aware that it's over.
WTF kind of stupidity is that?
down, wages up,
Liar...from your own site, "wages have only just started to keep upThat's "wages up" and consumer spending is robust.
with price hikes."
Wages have not kept up with inflation. Not even close. People haveReal earnings are up 1.2% year-to-year for June, while inflation is approaching 3%. Home prices and rents have leveled, gas prices are down.
lost real income and just because prices slow their rise doesn't mean they've regained that real lost income. They feel it every day as
they continue to struggle to balance budgets.
https://www.wsj.com/articles/pandemic-savings-in-u-s-running-out-5317ad4f
It's paywalled but you can see the reality spelled out in the first paragraph.
Savings accumulated during the pandemic by consumers are alreadyThank you for the quote. The savings rate is currently 4.6% and rising
depleted for most U.S. households, BNP Paribas economists write in a report. They estimate excess savings peaked at $2.2 trillion in
August 2021, allowing consumers to spend “at an above-trend pace over the last couple years.” Now this dynamic is fading “and looks set to end soon, with excess household savings likely to be depleted by year-end.” Without this cushion, the economists write that they
expect consumers “to become increasingly sensitive to labor market dynamics.” They also expect unemployment to rise, which “should translate to slower spending...
so we haven't hit bottom yet.
On Thursday, July 13, 2023 at 9:21:43 AM UTC-7, mINE109 wrote:
On 7/13/23 10:24 AM, ScottW wrote:
On Thursday, July 13, 2023 at 4:24:07 AM UTC-7, mINE109 wrote:That's "wages up" and consumer spending is robust.
On 7/12/23 7:21 PM, ScottW wrote:
as he claims it's all on Biden to make sure the public isThe media seems unwilling to share good economic news:
aware that inflation is past. We're down to 3% and people
need to be aware that it's over.
WTF kind of stupidity is that?
inflation down, wages up,
Liar...from your own site, "wages have only just started to keep
up with price hikes."
Wages have not kept up with inflation. Not even close. PeopleReal earnings are up 1.2% year-to-year for June, while inflation
have lost real income and just because prices slow their rise
doesn't mean they've regained that real lost income. They feel it
every day as they continue to struggle to balance budgets.
is approaching 3%. Home prices and rents have leveled, gas prices
are down.
One month. Here's the real Biden track record and these are the
f'in gov't adjusted numbers that exclude so many things to look as
good as they possibly can.
https://ycharts.com/indicators/us_real_average_hourly_earnings#:~:text=US%20Real%20Average%20Hourly%20Earnings%20is%20at%20a%20current%20level,1.19%25%20from%20one%20year%20ago.
Earnings are way down from the day Joe took office.
https://www.wsj.com/articles/pandemic-savings-in-u-s-running-out-5317ad4f
Thank you for the quote. The savings rate is currently 4.6% and rising so we haven't hit bottom yet.
You think that's a good number? Rich people have disposable income.
Yippee. Middle income and poor people....ignore their asses going
bankrupt and homeless.
Look at the history of this stat. It's never been zero since fed
started tracking in 1959. Lowest recorded is 2.1 in July 2005. We
hit 2.7 in June 2022 under Biden. These are not good numbers to brag
about. Only a complete ignorant fool would think they are. And
rising? It was 4.6 two months ago and it's 4.6 now. That is not
good.
and FWIW....Financial planners say 15% should be your savings rate
for long term prosperity and financial health.
4.6% is shit as a national metric.
On 7/13/23 9:00 PM, ScottW wrote:
On Thursday, July 13, 2023 at 9:21:43 AM UTC-7, mINE109 wrote:
On 7/13/23 10:24 AM, ScottW wrote:
On Thursday, July 13, 2023 at 4:24:07 AM UTC-7, mINE109 wrote:That's "wages up" and consumer spending is robust.
On 7/12/23 7:21 PM, ScottW wrote:
as he claims it's all on Biden to make sure the public isThe media seems unwilling to share good economic news:
aware that inflation is past. We're down to 3% and people
need to be aware that it's over.
WTF kind of stupidity is that?
inflation down, wages up,
Liar...from your own site, "wages have only just started to keep
up with price hikes."
Wages have not kept up with inflation. Not even close. PeopleReal earnings are up 1.2% year-to-year for June, while inflation
have lost real income and just because prices slow their rise
doesn't mean they've regained that real lost income. They feel it
every day as they continue to struggle to balance budgets.
is approaching 3%. Home prices and rents have leveled, gas prices
are down.
One month. Here's the real Biden track record and these are the
f'in gov't adjusted numbers that exclude so many things to look as
good as they possibly can.
https://ycharts.com/indicators/us_real_average_hourly_earnings#:~:text=US%20Real%20Average%20Hourly%20Earnings%20is%20at%20a%20current%20level,1.19%25%20from%20one%20year%20ago.
Earnings are way down from the day Joe took office.Your chart: (1982-84 USD)
June 30, 2023 11.05
Jan 31, 2021 11.39
Okay, I'll swap "earnings are generally steady over his term"
Earnings are way down from the day Joe took office.Your chart: (1982-84 USD)
June 30, 2023 11.05
Jan 31, 2021 11.39
Okay, I'll swap "earnings are generally steady over his term"
delusional
On 7/14/23 10:59 AM, ScottW wrote:
Earnings are way down from the day Joe took office.Your chart: (1982-84 USD)
June 30, 2023 11.05
Jan 31, 2021 11.39
Okay, I'll swap "earnings are generally steady over his term"
delusionalHey, they're your numbers. The earning chart looks like a return to the decades-long trend, even if you think the thirty-four cent difference qualifies as "way down" which I do not.
A lot of the complaints about falling wages can be attributed to the anomalous 2020 spike.
On Friday, July 14, 2023 at 1:54:05 PM UTC-4, mINE109 wrote:
On 7/14/23 10:59 AM, ScottW wrote:
Hey, they're your numbers. The earning chart looks like a return to theEarnings are way down from the day Joe took office.Your chart: (1982-84 USD)
June 30, 2023 11.05
Jan 31, 2021 11.39
Okay, I'll swap "earnings are generally steady over his term"
delusional
decades-long trend, even if you think the thirty-four cent difference
qualifies as "way down" which I do not.
A lot of the complaints about falling wages can be attributed to the
anomalous 2020 spike.
How much did you have to raise you rate, to keep up with inflation>
On 7/14/23 10:59 AM, ScottW wrote:
Earnings are way down from the day Joe took office.Your chart: (1982-84 USD)
June 30, 2023 11.05
Jan 31, 2021 11.39
Okay, I'll swap "earnings are generally steady over his term"
delusionalHey, they're your numbers. The earning chart looks like a return to the decades-long trend, even if you think the thirty-four cent difference qualifies as "way down" which I do not.
On Friday, July 14, 2023 at 10:54:05 AM UTC-7, mINE109 wrote:
On 7/14/23 10:59 AM, ScottW wrote:
Earnings are way down from the day Joe took office.Your chart: (1982-84 USD)
June 30, 2023 11.05
Jan 31, 2021 11.39
Okay, I'll swap "earnings are generally steady over his term"
It's a normalized number. 34c from a person making 11$ is a nice 3% pay cut. But that 11$ represents the national average income...or the equivalent of a household income of 69,000.delusionalHey, they're your numbers. The earning chart looks like a return to the decades-long trend, even if you think the thirty-four cent difference qualifies as "way down" which I do not.
But the odd thing about inflation is it bites much harder on lower income households.
They'll also take a 34c hourly wage cut from an income of 35000 or 5.50 your normalized chart.
Now the bite is 6%. And we know from the "savings rate" that they never had 6% extra in their budgets.
Half of households don't have 500$
https://finance.yahoo.com/news/nearly-half-americans-less-500-120012475.html#:~:text=It%27s%20no%20secret%20that%20the,with%20almost%2018%25%20having%20nothing.
to spare for an emergency and you just yawned over a $2200 reduction income.
This "defense" of dems while ignoring real suffering is what you makes you such a special...POS.
ScottW
On Friday, July 14, 2023 at 10:54:05 AM UTC-7, mINE109 wrote:
On 7/14/23 10:59 AM, ScottW wrote:
Hey, they're your numbers. The earning chart looks like a return to theEarnings are way down from the day Joe took office.Your chart: (1982-84 USD)
June 30, 2023 11.05
Jan 31, 2021 11.39
Okay, I'll swap "earnings are generally steady over his term"
delusional
decades-long trend, even if you think the thirty-four cent difference
qualifies as "way down" which I do not.
It's a normalized number. 34c from a person making 11$ is a nice 3% pay cut.
But that 11$ represents the national average income...or the equivalent of a household income of 69,000.
But the odd thing about inflation is it bites much harder on lower income households.
They'll also take a 34c hourly wage cut from an income of 35000 or 5.50 your normalized chart.
Now the bite is 6%.
On 7/14/23 9:05 PM, ScottW wrote:
On Friday, July 14, 2023 at 10:54:05 AM UTC-7, mINE109 wrote:
On 7/14/23 10:59 AM, ScottW wrote:
Hey, they're your numbers. The earning chart looks like a return to the >> decades-long trend, even if you think the thirty-four cent differenceEarnings are way down from the day Joe took office.Your chart: (1982-84 USD)
June 30, 2023 11.05
Jan 31, 2021 11.39
Okay, I'll swap "earnings are generally steady over his term"
delusional
qualifies as "way down" which I do not.
It's a normalized number. 34c from a person making 11$ is a nice 3% pay cut.Follow the cite that breaks out the low wage category and you'll see
But that 11$ represents the national average income...or the equivalent of a household income of 69,000.
But the odd thing about inflation is it bites much harder on lower income households.
those lower income households are up 9%.
"What this report finds: Between 2019 and 2022, low-wage workers
experienced historically fast real wage growth. The 10th percentile real hourly wage grew 9.0% over the three-year period. This tremendous real
wage growth at the lower end of the wage distribution was exceptional, significantly faster than in any other business cycle peak since 1979. Nevertheless, low-wage workers, who are disproportionately women and
Black and Hispanic, continue to suffer from grossly inadequate wages:
The 10th-percentile wage in 2022 was $12.57, or $26,145 annually for a full-time worker."
They'll also take a 34c hourly wage cut from an income of 35000 or 5.50 your normalized chart.You're counting inflation against an inflation-adjusted figue.
Now the bite is 6%.The figure was 10.92 a year ago, a 13 cent rise to today, nearly ten per cent. Thanks, Joe!
On Saturday, July 15, 2023 at 7:22:26 AM UTC-7, mINE109 wrote:
On 7/14/23 9:05 PM, ScottW wrote:
On Friday, July 14, 2023 at 10:54:05 AM UTC-7, mINE109 wrote:Follow the cite that breaks out the low wage category and you'll
On 7/14/23 10:59 AM, ScottW wrote:
Hey, they're your numbers. The earning chart looks like aEarnings are way down from the day Joe took office.Your chart: (1982-84 USD)
June 30, 2023 11.05 Jan 31, 2021 11.39
Okay, I'll swap "earnings are generally steady over his
term"
delusional
return to the decades-long trend, even if you think the
thirty-four cent difference qualifies as "way down" which I do
not.
It's a normalized number. 34c from a person making 11$ is a nice
3% pay cut. But that 11$ represents the national average
income...or the equivalent of a household income of 69,000. But
the odd thing about inflation is it bites much harder on lower
income households.
see those lower income households are up 9%. "What this report
finds: Between 2019 and 2022, low-wage workers experienced
historically fast real wage growth. The 10th percentile real hourly
wage grew 9.0% over the three-year period. This tremendous real
wage growth at the lower end of the wage distribution was
exceptional, significantly faster than in any other business cycle
peak since 1979. Nevertheless, low-wage workers, who are
disproportionately women and Black and Hispanic, continue to suffer
from grossly inadequate wages: The 10th-percentile wage in 2022 was
$12.57, or $26,145 annually for a full-time worker."
They could have been up 15% or more not for the bite from inflation.
The 10th percentile is min wage driven.
What happened in the 9th? Eighth? Seventh? People who didn't get
bumbed by the min wage hikes? You are really cherry picking.
These are struggling low and middle income households who suffer.
They'll also take a 34c hourly wage cut from an income of 35000You're counting inflation against an inflation-adjusted figue.
or 5.50 your normalized chart.
Duh. Yes....inflation adjusted figures count inflation. WTF.....
Now the bite is 6%.
The figure was 10.92 a year ago, a 13 cent rise to today, nearly
ten per cent. Thanks, Joe!
No clue what you're looking at.
10.92 to 11.07 is not 13 cents.
The 10th percentile number which is really BS as many of the 10th
percent left the workforce and the recent rise is to entice them
back while competing against a slew of gov't unemployment benefits.
That's still playing out in the system many people are still "out of
the work force".
On Saturday, July 15, 2023 at 7:22:26 AM UTC-7, mINE109 wrote:
On 7/14/23 9:05 PM, ScottW wrote:
On Friday, July 14, 2023 at 10:54:05 AM UTC-7, mINE109 wrote:
On 7/14/23 10:59 AM, ScottW wrote:
Hey, they're your numbers. The earning chart looks like a return to the >> decades-long trend, even if you think the thirty-four cent difference >> qualifies as "way down" which I do not.Earnings are way down from the day Joe took office.Your chart: (1982-84 USD)
June 30, 2023 11.05
Jan 31, 2021 11.39
Okay, I'll swap "earnings are generally steady over his term"
delusional
They could have been up 15% or more not for the bite from inflation.It's a normalized number. 34c from a person making 11$ is a nice 3% pay cut.Follow the cite that breaks out the low wage category and you'll see
But that 11$ represents the national average income...or the equivalent of a household income of 69,000.
But the odd thing about inflation is it bites much harder on lower income households.
those lower income households are up 9%.
"What this report finds: Between 2019 and 2022, low-wage workers experienced historically fast real wage growth. The 10th percentile real hourly wage grew 9.0% over the three-year period. This tremendous real wage growth at the lower end of the wage distribution was exceptional, significantly faster than in any other business cycle peak since 1979. Nevertheless, low-wage workers, who are disproportionately women and
Black and Hispanic, continue to suffer from grossly inadequate wages:
The 10th-percentile wage in 2022 was $12.57, or $26,145 annually for a full-time worker."
The 10th percentile is min wage driven.
What happened in the 9th? Eighth? Seventh? People who didn't get bumbed by the min wage hikes?
You are really cherry picking.
These are struggling low and middle income households who suffer.
Duh. Yes....inflation adjusted figures count inflation. WTF.....They'll also take a 34c hourly wage cut from an income of 35000 or 5.50 your normalized chart.You're counting inflation against an inflation-adjusted figue.
No clue what you're looking at. 10.92 to 11.07 is not 13 cents.Now the bite is 6%.The figure was 10.92 a year ago, a 13 cent rise to today, nearly ten per cent. Thanks, Joe!
The 10th percentile number which is really
BS as many of the 10th percent left the workforce and the recent rise is to entice them back
while competing against a slew of gov't unemployment benefits.
That's still playing out in the system many people are still "out of the work force".
ScottW
On 7/15/23 10:48 AM, ScottW wrote:
On Saturday, July 15, 2023 at 7:22:26 AM UTC-7, mINE109 wrote:
On 7/14/23 9:05 PM, ScottW wrote:
On Friday, July 14, 2023 at 10:54:05 AM UTC-7, mINE109 wrote:Follow the cite that breaks out the low wage category and you'll
On 7/14/23 10:59 AM, ScottW wrote:
Hey, they're your numbers. The earning chart looks like aEarnings are way down from the day Joe took office.Your chart: (1982-84 USD)
June 30, 2023 11.05 Jan 31, 2021 11.39
Okay, I'll swap "earnings are generally steady over his
term"
delusional
return to the decades-long trend, even if you think the
thirty-four cent difference qualifies as "way down" which I do
not.
It's a normalized number. 34c from a person making 11$ is a nice
3% pay cut. But that 11$ represents the national average
income...or the equivalent of a household income of 69,000. But
the odd thing about inflation is it bites much harder on lower
income households.
see those lower income households are up 9%. "What this report
finds: Between 2019 and 2022, low-wage workers experienced
historically fast real wage growth. The 10th percentile real hourly
wage grew 9.0% over the three-year period. This tremendous real
wage growth at the lower end of the wage distribution was
exceptional, significantly faster than in any other business cycle
peak since 1979. Nevertheless, low-wage workers, who are
disproportionately women and Black and Hispanic, continue to suffer
from grossly inadequate wages: The 10th-percentile wage in 2022 was
$12.57, or $26,145 annually for a full-time worker."
They could have been up 15% or more not for the bite from inflation.Your claim was they were falling behind, not getting less far ahead.
The 10th percentile is min wage driven.And?
What happened in the 9th? Eighth? Seventh? People who didn't getConsult "Figure A" at the link provided.
bumbed by the min wage hikes? You are really cherry picking.
On Saturday, July 15, 2023 at 9:36:39 AM UTC-7, mINE109 wrote:
On 7/15/23 10:48 AM, ScottW wrote:
On Saturday, July 15, 2023 at 7:22:26 AM UTC-7, mINE109 wrote:
On 7/14/23 9:05 PM, ScottW wrote:
The 10th percentile is min wage driven.And?
Mostly part time employees, not heads of households... and only
reports on the lucky who remained employed.
What happened in the 9th? Eighth? Seventh? People who didn't getConsult "Figure A" at the link provided.
bumbed by the min wage hikes? You are really cherry picking.
I see these are "surveys" of the employed. Unemployed ignored.
Skewed data. You seriously going to claim household income went up
during the pandemic when half the country's min wage earners were
locked out of their jobs? GMAFB.
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