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[nenjin]

Donald "I refitted my apartments with thousand of dollars of roof top air conditioners that I never bought or installed" Trump.

His dad pulled the same shit.

[The_Explorer]

The whole world going to junk

Republicans dont vote in congress on the border, they weaponizing it against biden. Though I dunno if biden is doing as much as he could, but congress stalls. I think biden could (not just border stuff but in general) just sign everything off in executive orders, but maybe there is a limit to that.

Border being overrun in general, and republicans sending them all to blue states. Again, a republican made problem...but...my big problem with the border which both sides need to come to terms with...is china apparently admitted to sending people purposely across the border (and granted I can't really find anything legit on this, hence "apparently", outside fraudox news and random X posts). But it wouldnt surprise me if china hasn't taken advantage of the border being in chaos. That poses so many security risks that the list is endless of potential future problems. And no, a stupid damn medieval wall is stupid lol

The next bg world going to junk is republicans are pretty much letting russia swarm ukraine, many bought and paid for by russia. That poses a TON of security issues too, mostly for europe, but it ultimately effects the US because everything in the modern day effects everything else. This is probably the worst of the bunch.

And israel/palestine is dumb. US keeps vetoing everything. Like I'll agree hamas is bad, but innocent people are still effected.

At this point, I'm hoping democrats replace biden with someone better. I really dont know if I'm going to vote or not, and voting third party is just throwing a vote away its a waste. I'd never vote trump, but at this point, biden is fumbling on everything except jobs and the economy. The ONE thing going positively. And I really don't like the US stopping all the ceasefires EU puts together, its dumb. And I think BOTH biden and trump are too old anyway, there is a minimum age limit...should be a max age limit

With all that said (to add post-edit), in the end, I'd probably vote for biden. If it came down to it, at least he is good with jobs/economy. But, at this point I think the whole world is going to hell and way too many conflicts everywhere. But if asked before israel, I'd say "100% biden" now its like "I'll probably vote, but I'm getting bored please replace". I'd be more excited if US didn't purposely keep preventing israel ceasefires.

(also to add). While I may or may not vote for president, considering republicans stance on ukraine, I'm definitely voting blue down the aisle. And republicans stance on the border SOUNDS good, but they dont do anything to actually...do anything about it just all talk no action..I just...a vote for biden is so meh, I really want another choice.

[Maximum Spin]

Sorry, do you genuinely not know the condition of US economic indicators right now?

[The_Explorer]

Sorry, do you genuinely not know the condition of US economic indicators right now?

Yeah, there are tons of jobs and while the economy and prices of goods aren't where they were before covid...here is the thing...

the US is WAY better off than most if not all other nations right now. Maybe there is some nations in europe doing just as good or better.

The bigger problem is companies are purposely and have artificially greatly increased prices unneedesly. Biden as even complained about this. The inflation is what 20%? or is it 40%? BUT everything when you go to a restaurant is 3 or more times higher. That does NOT meet what inflation is.

Even considering that though, more jobs than there were. AND the US is better than other countries. Is it where it was price wise before covid? No. But thats mostly the companies artificially increasing the prices and many used covid as an excuse to do so.

[Maximum Spin]

I'm not talking about inflation, I'm talking about the credit crunch and the Fed holding rates high. Not to mention the shipping crisis and continually high fuel costs.

Yes, the US is doing better than Europe, but, as you said, what happens in Europe also affects the US, especially since Europe is such an important export market for the US. The current situation is actually... really bad. It's hard to say what will happen but recession within 1-2 years is not unlikely.

[McTraveller]

The Fed isn't holding rates "high" though - they are finally holding them back at historic averages. People got way too used to ZIRP.

The problem with prices is policies that make it too difficult to start new businesses to increase supply. Regulatory capture and lack of keeping anticompetitive behavior in check, coupled with selfish behaviors, makes it very difficult for the market to increase supply and reduce price pressure. I mean look at the cheering about the UAW stuff - sure that makes the UAW members better off, but it makes everyone else worse off at their expense, because nothing in those contracts increases the number of cars produced per unit UAW member employed, which means prices cannot come down.

You want to see what makes prices come down, look at the EV "price wars" where there's now enough competition that the OEMs are dropping prices.  They aren't losing money on every car they sell - they are just no longer making stupid gross margins.  (Don't let the way they are amortizing R&D costs fool you into thinking they lose money on every car.)

[Maximum Spin]

The Fed isn't holding rates "high" though - they are finally holding them back at historic averages. People got way too used to ZIRP.

I mean, yeah, that's true from a long-term historical perspective and I agree that it had to happen sooner or later, but Volcker shocks still cause recessions.

An Austrian "at some point the capital structure must purge" argument doesn't change the fact that this is still bad for real people on the ground level.

[Bumber]

Republicans dont vote in congress on the border, they weaponizing it against biden. Though I dunno if biden is  as much as he could, but congress stalls. I think biden could (not just border stuff but in general) just sign everything off in executive orders, but maybe there is a limit to that.

The problem didn't spontaneously appear out of nowhere. Biden caused it through changes in policy and executive orders. Nothing Congress does will matter if Biden doesn't enforce. It took years for the admin to even admit we have a "crisis" rather than a "challenge" at the border. It's Biden blame-shifting more than GOP weaponizing. Issue finally went sour for Dem voters.

BUT everything when you go to a restaurant is 3 or more times higher. That does NOT meet what inflation is.

Kind of doesn't matter what you call it, does it? Price is higher.

But thats mostly the companies artificially increasing the prices and many used covid as an excuse to do so.

Sounds like Biden Kool-aid. Is there data that it's artificial rather than increased supply chain costs?

[Maximum Spin]

I've noticed there's been a real push in the last couple of years to mislead people, especially on the internet, who don't really understand what inflation is with this "corporate profits" angle. It's economically illiterate, of course - nominal corporate profits increasing in absolute terms isn't some separate thing, but part of what normal inflation is.

[StrawBarrel]

https://www.bbc.com/news/live/world-us-canada-68132436?src_origin=BBCS_BBC#lx-stream

Currently breaking is punishments for Trump’a fraud case.

$355 million fine, $4 million fine each for Eric and Donald Jr, 3 year ban from doing business in NY.

Yeah this was pretty cool news \^o^/.

https://www.theguardian.com/us-news/2024/feb/21/letitia-james-trump-assets-seizure-buildings

“If he does not have funds to pay off the judgment, then we will seek judgment enforcement mechanisms in court, and we will ask the judge to seize his assets,” James said to ABC News in an interview on Tuesday evening.

[McTraveller]

I've noticed there's been a real push in the last couple of years to mislead people, especially on the internet, who don't really understand what inflation is with this "corporate profits" angle. It's economically illiterate, of course - nominal corporate profits increasing in absolute terms isn't some separate thing, but part of what normal inflation is.

No - corporate profits increasing doesn't necessarily mean inflation. Inflation is higher price per unit purchased, full stop.  A company can double its profits by doubling its sales, with absolutely no impact on inflation.  However, if a company doubles its profits without doubling its sales, and without halving its costs, then that is inflation, because it can only be done by increasing the price per unit sold.

The complaint about companies is that they used the excuse of higher supply chain costs to increase their prices, but they increased prices faster than the increase in cost.  In other words, companies not only passed on the input price increase, they also added on top of it.

[Maximum Spin]

No - corporate profits increasing doesn't necessarily mean inflation.

That's great because that's not what I said. I said inflation necessarily means corporate profits increasing (in nominal terms, because everything increases in nominal terms). It's the opposite.

[McTraveller]

I think we're talking past each other saying very similar things; my stance is inflation is completely orthogonal to corporate profits. Profits (nominal or real, doesn't matter) don't necessarily go up if inflation goes up.  Inflation is a component of how profits change, but a company whose profits change in lockstep with inflation is not very interesting.

[Maximum Spin]

Profits (nominal or real, doesn't matter) don't necessarily go up if inflation goes up.

This is wrong, and it's especially wrong because you said "nominal or real, doesn't matter" when that's the entire crux of the issue. Nominal profits going up is part of the way inflation propagates - if prices rise in just one sector, that's not inflation, but inflation happens as other players in the economy raise prices proportionally to compensate for their greater expenses, restoring their real profit rates and therefore increasing nominal profit rates because inflation is the status of the nominal:real ratio increasing.

You're treating "inflation" as if it's some kind of independent value that "goes up", but it's not, it's a process. Inflation statistics are just a, highly flawed, mathematical snapshot of that process by reference to a perceived average price level.

[McTraveller]

Ok this is veering into economics instead of Ameripol. I'm not disagreeing that inflation can't be a factor in increasing nominal profits.

I'm disagreeing that in the past two years profit increases were due to inflation.  I'm arguing that inflation is lagging profit increases (for some companies) so those companies are contributing to inflation.  Other companies have costs increase faster than inflation, so have to raise their prices to catch up.  These companies are responding to inflation.

The overall economy is a combination of both phenomena; anyone who tries to say it is only one or the other is playing the political game - and I agree with you on that.