Is it you straight up expectation that prices will never rise again? Or that after a period of inflation they will return to what they were before? The level of inflation in this country dropped massively over the past year
Wages increased, particularly for the bottom brackets. These are just facts. I'm not talking about perceptions but reality!
Is it you straight up expectation that prices will never rise again? Or that after a period of inflation they will return to what they were before? The level of inflation in this country dropped massively over the past year
Wages increased, particularly for the bottom brackets. These are just facts. I'm not talking about perceptions but reality!
And as for perceptions, Republican voters are suddenly "feeling good" about the economy – without the core reality shifting recently. In other words, this has everything to do with "the vibe economy".
This is exactly what I was getting at yesterday in saying that racism and sexism were factors in Harris's defeat. If voters say they voted on the economy, which they say was in bad shape on November 5th, and two weeks later--without any change in that economy--they say it's now good, then they're voting on something other than the economy.
They may well be voting on the economy – but the "vibe economy" rather than the real one. Come January, I betcha the economy will suddenly be widely seen as "fantastic", even if the actual parameters by which it is measured don’t change by one iota.
There's really no such thing as a "vibe economy"--either eggs and gas are priced too high or they're not. If people can say that the same prices are okay when their candidate gets elected and not when the candidate they don't want is in office, then they're voting on something other than the economy/prices. We have to see through the rationalizations people make to reporters and pollsters and acknowledge that there are other reasons, including racism and sexism, that are driving their votes.
To answer your second question, yes, prices should return to what they were after inflation. If a product doesn't change, then in the medium/long term there's no reason why the price should change. And in fact, in the long term, technological advances in production, distribution, and transportation should result in prices going down!
And like I said above, wage growth does NOT make inflation OK. Wage growth is earned, and to have all the effort of earning a higher wage be taken away by inflation is a terrible feeling!
That is not how inflation works. It is not how inflation has ever worked. Inflation is basically always happening and the prices of goods and services, except maybe for airline tickets, do not drop over time. Furthermore, once heavier inflation starts, it is very hard to stop it. Usually, a recession is needed. Biden created an economic miracle in which inflation was stopped without a recession.
And the American people have said that “the way things have always worked” isn't working for them. It's why institutionalism hasn't worked for Dems, because people don't think the institutions are helping them.
Telling the American people “we can't do what you want us to do” is possibly the worst electoral strategy ever devised.
It works for Republicans. I remember one year for Xmas getting some generic cheap ass version of a My Little Pony. I was unhappy at first but that shit still worked.
They don’t really count. They go up and down every day. A 12-pack of pop went from a solid $4.99 to $5.49 and I had questions. Then came Covid and it went to $8.49 and hasn’t budged.
You could argue those go on sale while gas doesn’t it. So pop fluctuates week to week depending on the store/s you go to.
Yes, price changes and underlying inflation are different things economically. Gasoline prices are widely overweighted in public opinion and have been and could yet be significantly lower absent economic devastation and economy wide deflation. This is terrible policy, but great politics.
Is it you straight up expectation that prices will never rise again? Or that after a period of inflation they will return to what they were before? The level of inflation in this country dropped massively over the past year
Wages increased, particularly for the bottom brackets. These are just facts. I'm not talking about perceptions but reality!
And as for perceptions, Republican voters are suddenly "feeling good" about the economy – without the core reality shifting recently. In other words, this has everything to do with "the vibe economy".
https://www.axios.com/2024/11/13/consumer-sentiment-republican-democrat-switch
This is exactly what I was getting at yesterday in saying that racism and sexism were factors in Harris's defeat. If voters say they voted on the economy, which they say was in bad shape on November 5th, and two weeks later--without any change in that economy--they say it's now good, then they're voting on something other than the economy.
They may well be voting on the economy – but the "vibe economy" rather than the real one. Come January, I betcha the economy will suddenly be widely seen as "fantastic", even if the actual parameters by which it is measured don’t change by one iota.
Record number of people flying this holiday season even though airline prices have remained elevated; struggling my ass.
There's really no such thing as a "vibe economy"--either eggs and gas are priced too high or they're not. If people can say that the same prices are okay when their candidate gets elected and not when the candidate they don't want is in office, then they're voting on something other than the economy/prices. We have to see through the rationalizations people make to reporters and pollsters and acknowledge that there are other reasons, including racism and sexism, that are driving their votes.
To answer your second question, yes, prices should return to what they were after inflation. If a product doesn't change, then in the medium/long term there's no reason why the price should change. And in fact, in the long term, technological advances in production, distribution, and transportation should result in prices going down!
And like I said above, wage growth does NOT make inflation OK. Wage growth is earned, and to have all the effort of earning a higher wage be taken away by inflation is a terrible feeling!
That is not how inflation works. It is not how inflation has ever worked. Inflation is basically always happening and the prices of goods and services, except maybe for airline tickets, do not drop over time. Furthermore, once heavier inflation starts, it is very hard to stop it. Usually, a recession is needed. Biden created an economic miracle in which inflation was stopped without a recession.
Because this was a supply problem not excess demand. The economy wasn't overheated to start.
The economy was, and is, on top of a 10+ year bull run.
The stock market may be, but the economy, after several years of mild growth, underwent a major disruption in 2020.
More of a bullish crawl out of a deep morass for most of that time, tho...
And the American people have said that “the way things have always worked” isn't working for them. It's why institutionalism hasn't worked for Dems, because people don't think the institutions are helping them.
Telling the American people “we can't do what you want us to do” is possibly the worst electoral strategy ever devised.
What you want is fundamentally impossible. If the Democrats have to do the impossible... That's it.
So Democrats should lie to the voters?
It works for Republicans. I remember one year for Xmas getting some generic cheap ass version of a My Little Pony. I was unhappy at first but that shit still worked.
Prices haven't gone down during the past 100 years except for during recessions.
Gasoline prices have, more than once.
They don’t really count. They go up and down every day. A 12-pack of pop went from a solid $4.99 to $5.49 and I had questions. Then came Covid and it went to $8.49 and hasn’t budged.
You could argue those go on sale while gas doesn’t it. So pop fluctuates week to week depending on the store/s you go to.
Yes, price changes and underlying inflation are different things economically. Gasoline prices are widely overweighted in public opinion and have been and could yet be significantly lower absent economic devastation and economy wide deflation. This is terrible policy, but great politics.
That's deflation, and that is a sign of an actively bad economy.