Posted on 06/30/2024 7:16:28 AM PDT by Diana in Wisconsin
Politics typically comes with plenty of spin.
Even something seemingly unyielding or absolute like a number can get squished and twisted like putty.
As such, flashy economic data points extolled by candidates always come with plenty of asterisks, caveats and “yes, buts.”
In this election cycle, those qualifiers have multiplied in part due to quirks in the numbers themselves: A once-in-a-lifetime pandemic and a once-in-a-generation inflation event sent shockwaves through the economy, distorting data and presidential economic records in the process.
“Interpreting economic data is like interpreting a Monet painting in the best of times,” Mark Zandi, chief economist at Moody’s Analytics, told CNN in an interview. “But in these times, it’s a Monet painting with the Picasso overlaid on top of it. Very difficult to interpret.”
During Thursday night’s presidential debate between President Joe Biden and former President Donald Trump, the echoes from those events were on full display as the candidates sparred over the economy.
“Trump blamed Biden for inflation; that’s misplaced because I don’t think either of them were to blame — the pandemic and Russian war were to blame,” Zandi said. “When President Biden takes credit for all jobs and says Trump lost all the jobs? That’s not fair either, because the pandemic really scrambled things.”
“I don’t think either candidate is on very strong ground by looking at history to discern whether their policies are good or bad. You’d have to use different criteria,” he added.
(Excerpt) Read more at channel3000.com ...
“The economy has not settled into a steady-state equilibrium following the pandemic,” Joe Brusuelas, principal and chief economist at RSM US, told CNN. “And until it does, we won’t have a real good sense of what the new metrics are that reflect the direction in the economy and consumer confidence.”
For the average person, the economic data only means so much anyways, Brusuelas said, adding that it comes down to “protein and petrol” versus percentage points.
“At the end of the day, if we’re talking about the American household, the price of eggs, the price of gas is how this is understood,” he said. “It’s things they see every week.”
GEE! YA THINK?!?!
The CNN Staff. ROTFL!!! Yeah, okay.
Sure, but Trump’s doesn’t include diapers.
Yeah, $1.89 gasolineand energy independence, and $7 steak, and eggs at $1 or so under Trump was “really messy”
Just to keep it a simple comparison; I remember the Trump term had decent fuel prices, inflation rate was relatively flat, employment was plentiful and mortgage interest rates were low. It’s been the exact opposite of all those items mentioned under Biden. The contrast is glaring but the willfully blind refuse to see.
Yep nothing to choose between here. GTFH.
But we had global warming caused by methane from cows needed for beef and all that really bad stuff.
Yeah. Messy. Under Trump I was fine. Under Biden my rent has gone up about 30%, my utilities have gone up more, my gas prices have gone up even more. To be fair groceries are *only* up about 25%. /spit
“...and cooling the earth through human impoverishment and depopulation.”
Perfectly stated!
I was a teen in the late 90s and can remember gas being under $1/gallon. Then came 9/11, the Iraq war, Hurricane Katrina, etc.
This is “my truth”: From the time I was old enough to begin working until the Trump presidency, the economy sucked. Wages stagnant, prices rising, benefits decreasing. All while the academics, news outlets, and politicians said everything was fine and getting better.
Trump’s presidency marked the first time in my adult life when I began to get ahead. I worked as hard as ever, but finally saw real salary increases. Had a growing family with young children and wasn’t overwhelmed. Could save, buy a car, a house, go on trips.
Then the Covid scamdemic. Then the Biden presidency came to rescue “hard-working folks” like me with their insane economic policies. Inflation has effectively wiped out every salary gain I’ve made in the past 5-6 years. My wife regularly compares shopping prices year over year... inflation is at least 30%, and many times north of 50%, on many common staples and purchases.
Oh BTW anyone who believes media and government inflation numbers is a moron. But Freepers know this.
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Completely Noe News
The propaganda media is not willfully blind. They see, but they lie to deceive the public. People who consume only the propagation media, on the other hand , are willfully blind.
At the debate a question about the cost of Daycare. Here’s a women related topic. Sure the cost of Daycare has gone up like everything else due to Bidenflation. How many women (esp single mothers) have to work 2,3, or 4 jobs just to get by. That’s economic bondage but those women who vote for democrats get their democrat results. I’m hoping many of them change that around come November 5th. If not they deserve the pain they vote for.
You make an excellent point in clarification in post #14.
joe muay have emptied the petroleum reserve just to have enough fuel to run all this gaslighting.
yeah i forgot that all disappeared under 10-4 biden
I was a teen when Carter was in office, so this is my SECOND go-round with a really crappy economy.
No gas, no jobs (other than Fast Food or Retail), 22%+ mortgages, no $$ for college...the works!
I joined the Army due to the economy and it worked out very well for me. Not really an option for kids these days, though. I would NOT recommend it!
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