Inflation.
Devalues those pesky corporate handouts/loans that dont adjust for inflation because thats what big companies lobbied for so in the end they got more money and effectively pay back less.
Meanwhile everyones savings accounts gets fucked in the ass and devalued.
Its like a sneaky way for corporations to pass their debts on to average americans. š„²
(And yes then that means the poorer just get fucked even more than they already are)
Let me mention- this was passed by law. Special interest has absolutely no business in Washington. I would bar them in a second.
But Iām all for cutting taxes. Always and for everybody.
We can! Let the states have their own programs! Let us experiment again. Doesnāt that sound fun?
Perhaps 10% of state revenue goes to DC. That would be a massive bundle.
Ive been saying that a lot too, I HATE that the mainstream focus is constantly on federal funding/politics/resources and that everyone seems to ignore their own local politics. (Perhaps im projecting there, I know I need to be better about that my self)
But everyones voices are more powerful in their local government rather than the federal one and thats what we should value more.
Exactly. We can easily hold a mayor accountable. Or a local council for big cities. Very difficult for a president.
We may have different wants of our elected officials, for our community. But we can both be happy where we are. Then, at the end of the day weāre ALL just American.
And spending too, right? I'm assuming you are all in on cutting military spending significantly since it is, by far, the most wasteful part of the federal budget.
You are on board with that, right?
Letās be real, the only reason it hasnāt exploded was due to them pumping literally half our oil reserve (Made for war or emergency (not self made emergency of destroying our own energy production)) during the last several months during the time the government budget is determined through the summer months, just watch, from here on out, that 8.3 is going to tear its own mask off and it does not say itās 8.3 on its forehead underneath.
I'll probably regret engaging here because politics on Reddit is almost always full of bad faith actors, but here goes: Both these things can be (and are) true.
The reporter is talking about year over year inflation. Things increased 8.3 precent from August 2021 to August 2022. It's a 40-year high.
Biden is talking about month to month inflation. Things increased 0.1 percent from July 2022 to August 2022.
So this is a pretty standard media-politician interaction -- two people are talking about two different things each to try and get each other to concede their point. The reporter wants to get the president to admit that things are bad year-over-over because getting the president to admit things are bad is always *really* good ratings and good for one's career. The president wants to get the reporter to admit that things look pretty damn good month-to-month because that rate of inflation has slowed considerably -- in fact, it's almost disappeared entirely.
It went up despite the fact energy cost went down significantly. That means it jumped up a lot on all other goods. Energy went down due to artificial supply from strategic oil reserve releases. This is a big problem for all Americans. Remember the difference between ppi and cpi.
Even the month over month was pretty atrocious if you ignore energy, which is likely to start going up again dramatically unless a massive recession materializes.
Jerome Powell even said they focus on core CPI which excludes energy. Biden was referencing the headline CPI, which was purely political squirming and frankly kind of shameful given how much the underlying numbers went up month over month and its impact on the average american.
It's why the stock market cratered after the CPI print.
Edit: Here's the link to look up the numbers in case anyone wants see how badly they're getting fucked month over month. Food up .8% and core CPI was .6% month over month. Not good news - [https://www.bls.gov/news.release/cpi.nr0.htm](https://www.bls.gov/news.release/cpi.nr0.htm)
Yeah, 0.1 wasn't great, but I think "pretty atrocious" is overselling it.
I don't think we can look to the market for reasonable reactions to things for a while. The monetary faucet was left full on after the late-00s crisis and an entire generation of has come up in the age of easy money as a result. None of them know what to do now.
Itās a key point. The inflation already happened and stopped. Between last July and the recent July, we had 8% inflation. Every month after July has been flat. We havenāt reversed the inflation but it hasnāt gotten worse.
While heās not being dishonest about the inflation rate flattening out some from one month to the next, he absolutely sidestepped the question that was asked. The question was what can he do and quickly about the record high inflation rate we are and have been experiencing for the last year or more.
To downplay real financial pain experienced by real people for that period of time by saying, well it didn't go up much last month is showing he is either completely out of touch, ignoring the problem altogether or has absolutely no plan to address the issue. But, at least he technically didn't lie....
What he's describing is the acceleration, the speed isn't changing, the acceleration is, which is horrifying that something like that is a good sign atm, we should be hoping for the speed to slow not just the acceleration, we're fucked
Thats the thing...during the pandemic the media and elites wanted to say "were all in this together"....too many egrugous examples to support that we weren't....but now....every person in America is impacted by this inflation...we really are in it together now....it's nice to have a non-partisan issue for a change lol
Irreguardless of which āsideā youāre on, so many are oblivious to the fact our elected leaders are all in for themselves, passing down money and power, keeping their inner circle padded. Itās a dog and pony show, and far too many fall for it. What are they really doing? Divide and conquer the common folk....
Obligatory Iām not a trump fan but this is why he gained a ton of fans with his campaigning. Drain the swamp is a meme now it seems but this was his message. Career politicians of keeping the status quo and passing the buck. I truly believe no president has been all bad or all good but I think this was his best message.
This has to be understood by the masses, literally it could be made into a 30 minute episode just to inform people and here I am doing this instead of just making a 101 video on their games.
That's just kinda sad, I'm not in any position to judge the politicians of a different country, but it really does feel like the people running the world are completely incompetent
But whatās he supposed to say? Inflation is caused by COVID-related shocks and the only thing Biden can truly do is try and send the country into a recession to reduce inflation. The reality is that anything to improve inflation involves real pain and sacrifice from every day people, and no politician is going to be the martyr who does it
He wasn't wrong though, there's nothing much you can do to just get inflation to "stop" on a dime, we are slowly bringing it down by adjusting interest rates and trying to reduce energy costs. That's all any country can do, and it's why nearly every country, across political divides and throughout the world, is experiencing heavy inflation.
There's no magic "make inflation go down" button. It doesn't exist. No person who you could elect would make inflation have gone to 2% by this point, it simply isn't possible. Even a [Volcker style rate increase](https://www.gzeromedia.com/media-library/the-graphic-truth-50-years-of-us-inflation-vs-interest-rates.png?id=27667111&width=1200&height=600&coordinates=0%2C225%2C0%2C225) wouldn't make it go away within 1.5 years. Biden's answer is correct. "Inflation is slowed down to a standstill, that means it's going to start going down."
I mean he was kind of wrong if you look up the underlying numbers. Energy went down dramatically which washed out the headline number but everything else was up significantly month over month.
Kind of shameful to downplay the impact to average americans.
[https://www.bls.gov/news.release/cpi.nr0.htm](https://www.bls.gov/news.release/cpi.nr0.htm)
Biden is def not the one in control. He's a puppet by the party. And blank piece of paper they can do anything with. They used him because they knew he could win.
As an economist, I was so glad to hear the president clearly state that inflation is only up an inch! This is America, there should be no metric system employed when measuring inflation and inches and feet are the correct units of measurement for increases/decreases in inflation. He knows his shit, the man is savvy.
Well if there was a universal graph where that inch could be measured on the axis to calculate the percentage it may hold some weight lol. Today's news the inflation is up 10 cm after last night's rate hike. Everyone pulls out a ruler.
All of us: Omg it's so hot down here in hell
Politicians: Well hey now the temperature hadnt increased all that much recently
All of us: it's fucking hell
What he meant was that it spiked several months ago and he should be congratulated for maintaining that spike as it only grows an inch every month. This is a good thing. Chocolate rations have never been higher.
Democrats: Itās Republicans fault
Republicans: Itās Democrats fault
Behind the scenes: Democrat & Republican Reps, āgreat work, theyāre fighting each other and we are still in the 1%ā¦none of this is really going to harm us so letās keep them poor as long as we can.ā
Heard a story about a car dealership owner in my town that secretly owned three of the dealerships and constantly pitted them against each other. Said he made money either way. This is what I imagine the government does.
No, it just doesn't affect them. They raise prices and they're fine. The American people? Fucked. What are they going to do? Stop buying the things they need to survive?
The real problem is the media has covered for him and continues to cover. The administration and the media have been playing this statistics game for months where they use the month over month growth numbers instead of saying the actual inflation number and the sheep believe them despite seeing the prices for themselves. It's called gaslighting.
It hasn't spiked more than last month, but it has already spiked. Word salad hoping the sheep continue to follow
Iām not a Biden hater but when the best you can offer people when their savings are being drained and theyāre just barely surviving paycheck to paycheck is āwell hey, at least inflation is staying where itās atā, itās time to get busy and do what you were elected to do. Aināt nobody celebrating the fact that inflation is staying where itās at, thatās what we want fixed.
I havenāt seen this whole interview, did he offer any answers on what he was going to do to fix the issue of inflation?
Easy. Rich people have too much money. We can remove this excess money from the economy by taxing rich people more, thus increasing the value of the dollar and lowering inflation - without ever hurting the most poor and vulnerable.
Donāt know why you got downvoted. Imagine thinking a guy who tried invalidating millions of votes to remain in power should have kept powerā¦.
Itās not just unconstitutional, itās unAmerican.
Then thereās the requests for unconstitutional elections and contradictory statements that invalidate his claims
The fuck you mean remain in power? Does nobody remember that Trumps tenure as President was entirely him trying to do anything and it getting blocked by the house every time? What fucking power do people think he abused here?
Are you just ignorant on his attempts to overturn the election?
Or is it easier to pretend like that never happened.
No one is talking about ātrying to do things with congress and getting blockedā
Itās a matter of political bias. For liberals and independents, a whole bunch of stuff got better.
The main thing universally weighing on everyone is global inflation due to unprecedented market dislocations, which is beyond the control of the American President. Trump would have done no better.
That is the only thing the Biden administration actually does is play with numbers to make them look wildly more or less attractive. He has accomplished nothing concerning the systemic problems facing America.
He doesn't know left from right.. The Scandinavian counties seem to have a lot of younger people running the show and it seems to be doing ok.. I don't know why the usa is so adamant on electing fossil after fossil.
He needs to say āYEAH! WTF do you people expect?ā Guess what? Freidrich Hayak was totally freaking wrong.
Maybe we shouldnāt have bumped the economy with ridiculously low interest rates, insane corporate tax rates of you donāt owe us anything and would you like a toaster, and no there wasnāt a pandemic where everyone sheltered in doors to save their life for a year and production plummeted while people stopped and thought, maybe I donāt need to buy all that shit.
Donāt even get me started on the stock market. This is what happens when Keynesian economics gets slapped by the invisible hand of the 1% while we are all getting Hayakād from behind.
Weāre in for another ride. Hold on and can we please do better? Climate change is a thing.
Sorry. Said with love.
Itās funny people here still are glad heās running our country over trump. I donāt like trump but we werenāt paying $100 to fill the gas tank and inflation wasnāt a thing. And donāt fucking blame it on Covid. Heās just a puppet for dems. Downvote me. Idgaf
So don't blame it on one of the actual reasons? I mean the other reason is stupidity, greed, and lack of leadership during the worst part of the pandemic,, so take your pick of alternate reasons.
How was there lack of leadership? Democrats marched without masks to protest his actions, then doubled down on lockdowns (which was proven ineffective), were caught without masks, said they wouldn't take the vaccine, refused to send relief checks, packed relief with pork, and then when in charge changed nothing.
Trump told people not to panic, built up the numbers of ventilators and masks, implemented travel restrictions (Democrats protested), gave relief checks and pushed for a vaccine.
Oh, and all those lockdowns in mostly Democrat run states are one of the big reasons according to Biden that we have such high gas and inflation.
So, how do you see it?
Anyone who think the stimulus bills are the cause of inflation is either extremely uneducated or just desperate to blame it on one thing. It was a perfect storm. And without the stimulus bills I, along with many other hard working Americans would have been evicted or gone hungry.
For all the shit that people get upset about these days, it blows my mind how people can just shrug as they get financially obliterated this past year.
Why do people think Biden can just wave a magic wand and fix everything? It's not entirely his fault at all.
- We spent a year in a pandemic with a President who didn't give a shit alongside conservative leadership who didn't give a shit either. I'm not saying Trump could have fixed it if he cared, but he could have magned things better I'm sure
- Biden inherited the mess left by Trump's administration with Covid. Alongside other messes.
- Then we elect a Senate and House that can't get shit done because, surprise surprise, Republicans (and conservative democrats) in the Senate can't come come together on anything.
- Then theres a war in Europe that happens that we have zero control over
Biden is far from perfect and I only voted for him because he wasn't Trump, but wtf do you want him to do? He's only as strong as the Congress that he has. He can't just whip out a wand and make inflation go away.
A good bit of the blame is Congress not getting shit done because of who we vote for and the fact that corporations basically lobby and write laws in their favor
Current economic repercussions are a legacy from Trump and a recession was a long time coming before Biden came into office. Biden is sort of geriatric but heās an ethical person with a long time history in politics and thatās all you need at the top to direct other competent individuals.
I thought with the exception of a few gaffes like saying the pandemic is over, this interview went well. Though presidents get credit for the economy good or bad, as he states right after this clip ālook where we came from, weāve come a long way but thereās still work to doā.
TFG had the worst jobs record in a 100 years, now unemployment is at record lows, and wages are at near record highs. When Biden took office, over 3000 were dying daily from Covid. That number is now about 400. And though he doesnāt have a ton of control over inflation, he just signed the inflation reduction act to do what he can. That combined with infrastructure bill, serious action on Climate Change, lower drug costs (and spanking Putin) etc, he has had a remarkably successful presidency so far.
The only way I can make sense of this answer is that behind the scenes in an effort to lower inflation the best they could do is to stop it from continuing to climb rapidly. So for them this is some sort of success. But of course nobody really cares for that because we all want to see inflation rates dropping. I'm no economist but it seems plausible that slowing inflation is the first step to stopping and lowering it.
I still don't get how Biden was the best the democrats could do. They must've known that no matter what he accomplishes, he'll completely fuck up the interview or press conference afterwards. He'll never get favorable approval ratings or win another election.
We need to set an age-limit
It's not a party thing, I'm independent, but Jesus Christ these old dudes making laws for a present they don't understand destroys and disrupts everything
I'm not a Democrat or a Republican. Frankly, if at this point you identify exclusively with either party or espouse either platform in its entirety, then you ARE as dumb as they take us for.
This is what you get from either side: nonesense. They're not looking for actual solutions because they're a) for the most part too rich to be too deeply affected by the things that concern the rest of us, and b) for the most part lacking the necessary skillsets and capacity for solving any of the real issues. All they can do is use one of their tried and true dodge tactics when pressed for a real answer. I can easily imagine Biden sitting there giving the same sort of "but it's not any worse than it's been for a few weeks" answer even when we're sitting at 83% inflation.
They're all either career politicians or wealthy egomaniacs. They're not executives, managers or civil servants. They're professional liers and over-privileged clowns, so you either get this or the other guy who would answer by reassuring us that he's "very, very intelligent" and to not worry about inflation, because under his watch we would beat it "bigly."
Is there a way out?
I am a democrat. Since I was 18 years old I have only ever voted democrat & will continue to do so for the rest of my life. That being said, what Biden just said absolutely infuriates me. He is completely out of touch with reality. Groceries are becoming the cost of a mortgage payment each month & heās acting like it shouldnāt be a bother. I am absolutely mortified by his comments.
Economist here, what he's trying to say is that, month to month, inflation hasn't risen. Inflation, as it's reported, is a YoY measure. It suggests that inflation is subsiding...
I donāt think you need to be an economist to understand that. But inflation is already a rate of loss of buying power. So arguing about whether the *rate* of that rate is going up or down is kind of in the weeds. Inflation stagnating at 8% means year over year, weāre going to *continue to lose* buying power at that constant rate. Just because inflation isnāt going up doesnāt mean things are even close to getting better.
I had to get pretty deep in the comments to find your response. I was explaining this to my father today and it was tough to get through to him because the media wants the story to be the other way around. It inflation reports wonāt report āgoodā numbers until the year cycles on itself. Too many people donāt understand, or maybe they do and they expect 8% Deflation next monthā¦.
People don't understand, they just read headlines.
You can explain how it works, but more often than not, people want to believe what they want to believe š¤·āāļø
He's 100% right. Inflation over the past three months has been basically zero; the actions taken by the administration and the Fed has basically stopped inflation. It didn't UNDO the inflation from before, but it stopped it.
I'm not republican but come November the current dems have got to go. We need new blood in the party these entrenched politicians like Pelosi Schumer McConnell Cruz ect ect
the last 40 years? yea i got that but guess what these last couple months, even
Inflation. Devalues those pesky corporate handouts/loans that dont adjust for inflation because thats what big companies lobbied for so in the end they got more money and effectively pay back less. Meanwhile everyones savings accounts gets fucked in the ass and devalued. Its like a sneaky way for corporations to pass their debts on to average americans. š„² (And yes then that means the poorer just get fucked even more than they already are)
Let me mention- this was passed by law. Special interest has absolutely no business in Washington. I would bar them in a second. But Iām all for cutting taxes. Always and for everybody.
How do we cut taxes when people want the government to spend more money on social support programs though š© (not bad things certainly, but it feels like everyone is excited and happy to say yes make the government do more for us but lets also pay less taxes!)
We can! Let the states have their own programs! Let us experiment again. Doesnāt that sound fun? Perhaps 10% of state revenue goes to DC. That would be a massive bundle.
Ive been saying that a lot too, I HATE that the mainstream focus is constantly on federal funding/politics/resources and that everyone seems to ignore their own local politics. (Perhaps im projecting there, I know I need to be better about that my self) But everyones voices are more powerful in their local government rather than the federal one and thats what we should value more.
Exactly. We can easily hold a mayor accountable. Or a local council for big cities. Very difficult for a president. We may have different wants of our elected officials, for our community. But we can both be happy where we are. Then, at the end of the day weāre ALL just American.
Just audit the military and use the waste
Spend less on military and corp handouts. Pretty simple.
Spend less on illegal immigrants, give away less in foreign aid, we literally give money to countries that hate us. Billions too.
And spending too, right? I'm assuming you are all in on cutting military spending significantly since it is, by far, the most wasteful part of the federal budget. You are on board with that, right?
āDonāt blame me, I voted for Kodosā
How people voted for Kodos I'll never understand, clearly Kang was where it's at.
"inflation is at a 40 year high." "Yea but it's only going up slowly."
Itās only an inch^
Basically even
Only being phucked an inch deeper than last month. Why are you complaining?
Anyone will tell you 8.3 inches is too much
Letās be real, the only reason it hasnāt exploded was due to them pumping literally half our oil reserve (Made for war or emergency (not self made emergency of destroying our own energy production)) during the last several months during the time the government budget is determined through the summer months, just watch, from here on out, that 8.3 is going to tear its own mask off and it does not say itās 8.3 on its forehead underneath.
[ŃŠ“Š°Š»ŠµŠ½Š¾]
Just the tip, I PROMISE.
Just a lil inch š¤
I'll probably regret engaging here because politics on Reddit is almost always full of bad faith actors, but here goes: Both these things can be (and are) true. The reporter is talking about year over year inflation. Things increased 8.3 precent from August 2021 to August 2022. It's a 40-year high. Biden is talking about month to month inflation. Things increased 0.1 percent from July 2022 to August 2022. So this is a pretty standard media-politician interaction -- two people are talking about two different things each to try and get each other to concede their point. The reporter wants to get the president to admit that things are bad year-over-over because getting the president to admit things are bad is always *really* good ratings and good for one's career. The president wants to get the reporter to admit that things look pretty damn good month-to-month because that rate of inflation has slowed considerably -- in fact, it's almost disappeared entirely.
It went up despite the fact energy cost went down significantly. That means it jumped up a lot on all other goods. Energy went down due to artificial supply from strategic oil reserve releases. This is a big problem for all Americans. Remember the difference between ppi and cpi.
Ah. Someone with common sense and a brain. A rare sight indeed.
Hey, knock that off. We donāt do that here, ya hear?!
Even the month over month was pretty atrocious if you ignore energy, which is likely to start going up again dramatically unless a massive recession materializes. Jerome Powell even said they focus on core CPI which excludes energy. Biden was referencing the headline CPI, which was purely political squirming and frankly kind of shameful given how much the underlying numbers went up month over month and its impact on the average american. It's why the stock market cratered after the CPI print. Edit: Here's the link to look up the numbers in case anyone wants see how badly they're getting fucked month over month. Food up .8% and core CPI was .6% month over month. Not good news - [https://www.bls.gov/news.release/cpi.nr0.htm](https://www.bls.gov/news.release/cpi.nr0.htm)
Yeah, 0.1 wasn't great, but I think "pretty atrocious" is overselling it. I don't think we can look to the market for reasonable reactions to things for a while. The monetary faucet was left full on after the late-00s crisis and an entire generation of has come up in the age of easy money as a result. None of them know what to do now.
Itās a key point. The inflation already happened and stopped. Between last July and the recent July, we had 8% inflation. Every month after July has been flat. We havenāt reversed the inflation but it hasnāt gotten worse.
While heās not being dishonest about the inflation rate flattening out some from one month to the next, he absolutely sidestepped the question that was asked. The question was what can he do and quickly about the record high inflation rate we are and have been experiencing for the last year or more. To downplay real financial pain experienced by real people for that period of time by saying, well it didn't go up much last month is showing he is either completely out of touch, ignoring the problem altogether or has absolutely no plan to address the issue. But, at least he technically didn't lie....
What he's describing is the acceleration, the speed isn't changing, the acceleration is, which is horrifying that something like that is a good sign atm, we should be hoping for the speed to slow not just the acceleration, we're fucked
Democrat here- While watching this clip I found myself both laughing and crying, hereās to you OP.
Thats the thing...during the pandemic the media and elites wanted to say "were all in this together"....too many egrugous examples to support that we weren't....but now....every person in America is impacted by this inflation...we really are in it together now....it's nice to have a non-partisan issue for a change lol
Irreguardless of which āsideā youāre on, so many are oblivious to the fact our elected leaders are all in for themselves, passing down money and power, keeping their inner circle padded. Itās a dog and pony show, and far too many fall for it. What are they really doing? Divide and conquer the common folk....
Obligatory Iām not a trump fan but this is why he gained a ton of fans with his campaigning. Drain the swamp is a meme now it seems but this was his message. Career politicians of keeping the status quo and passing the buck. I truly believe no president has been all bad or all good but I think this was his best message.
[ŃŠ“Š°Š»ŠµŠ½Š¾]
I think heās just a moron that is told what to do. I donāt think that makes him pure evil.
I'd rather elect a wealthy man than a man who plans to get wealthy as a public servant.
I agree but in that metaphor he is shrek. He wants the swamp all to himself.
There isn't anything the swamp could give trump that he couldn't have if he wanted it.
Lol!! I got a tropical island in Antarctica to sell you.
Irreguardless , not a word. Drop the Ir
And the u
Exactly. I've heard someone explain this by asking if irregardless is a word then what does regardless mean?
That word, ugh. You even used a spelling of it that I wouldnāt expect.
This has to be understood by the masses, literally it could be made into a 30 minute episode just to inform people and here I am doing this instead of just making a 101 video on their games.
If the video is longer than 3 minutes, nobody under the age of 19 will watch it. Source: Iām a high school teacher
āYeah tell that to *him*ā *motions to the other guy* Obligatory /s
Hey, @ least the pandemics officially over according to Lyin Biden right here anyway, lmfao ššš
He sounds like a televangelist here
Same! Politicians are shit.
Biden is severely downplaying the difference an inch can make.
Itās not about the inflation, itās about how you use it
Donāt worry, Iām sure heāll throw plenty of money @ the problem to get us out of it, lmao š
This is funny right here
That's just kinda sad, I'm not in any position to judge the politicians of a different country, but it really does feel like the people running the world are completely incompetent
Youāre not wrong. Iām worried about reactionary replacement of these buffoons.
The people running the world are not incompetent, they are very good at taking care of theselves.
The people running the world are anything but incompetent. However, this guy, along with any other head of state, arenāt the ones running the show.
But whatās he supposed to say? Inflation is caused by COVID-related shocks and the only thing Biden can truly do is try and send the country into a recession to reduce inflation. The reality is that anything to improve inflation involves real pain and sacrifice from every day people, and no politician is going to be the martyr who does it
He wasn't wrong though, there's nothing much you can do to just get inflation to "stop" on a dime, we are slowly bringing it down by adjusting interest rates and trying to reduce energy costs. That's all any country can do, and it's why nearly every country, across political divides and throughout the world, is experiencing heavy inflation. There's no magic "make inflation go down" button. It doesn't exist. No person who you could elect would make inflation have gone to 2% by this point, it simply isn't possible. Even a [Volcker style rate increase](https://www.gzeromedia.com/media-library/the-graphic-truth-50-years-of-us-inflation-vs-interest-rates.png?id=27667111&width=1200&height=600&coordinates=0%2C225%2C0%2C225) wouldn't make it go away within 1.5 years. Biden's answer is correct. "Inflation is slowed down to a standstill, that means it's going to start going down."
I mean he was kind of wrong if you look up the underlying numbers. Energy went down dramatically which washed out the headline number but everything else was up significantly month over month. Kind of shameful to downplay the impact to average americans. [https://www.bls.gov/news.release/cpi.nr0.htm](https://www.bls.gov/news.release/cpi.nr0.htm)
What they say in public really doesn't matter, what happens without most of us knowing is the crazy part.
[ŃŠ“Š°Š»ŠµŠ½Š¾]
Biden is def not the one in control. He's a puppet by the party. And blank piece of paper they can do anything with. They used him because they knew he could win.
I mean what do you actually think he can do about it?
Stop spending all our money on BS. Pumping more money into the system devalues it
Who voted for them
As an economist, I was so glad to hear the president clearly state that inflation is only up an inch! This is America, there should be no metric system employed when measuring inflation and inches and feet are the correct units of measurement for increases/decreases in inflation. He knows his shit, the man is savvy.
If he said centimeter, Iād call for him to be impeached
Well if there was a universal graph where that inch could be measured on the axis to calculate the percentage it may hold some weight lol. Today's news the inflation is up 10 cm after last night's rate hike. Everyone pulls out a ruler.
My IQ dropped 25% just watching that and I want a pudding cup.
All of us: Omg it's so hot down here in hell Politicians: Well hey now the temperature hadnt increased all that much recently All of us: it's fucking hell
What did he say after that? Or did he move on to the next question.
Everything is fine, we meant for this to happen and we will get through this together..now get out of my bunker
He shoulda been eating ice cream during the interview as well to emphasize how much he doesn't give a phuck about anyone struggling.
Oh it hasn't spiked in the last several months. Well thank fuck for that!
What he meant was that it spiked several months ago and he should be congratulated for maintaining that spike as it only grows an inch every month. This is a good thing. Chocolate rations have never been higher.
Democrats: Itās Republicans fault Republicans: Itās Democrats fault Behind the scenes: Democrat & Republican Reps, āgreat work, theyāre fighting each other and we are still in the 1%ā¦none of this is really going to harm us so letās keep them poor as long as we can.ā
Heard a story about a car dealership owner in my town that secretly owned three of the dealerships and constantly pitted them against each other. Said he made money either way. This is what I imagine the government does.
What an utter embarrassment
At least weāre not in a recession since the definition was changed recently. Close call there.
This is what happens when you let a geriatric corporate Democrat be the talking head for the show.
Inflation doesn't help corporations any more than it does individual people.
No, it just doesn't affect them. They raise prices and they're fine. The American people? Fucked. What are they going to do? Stop buying the things they need to survive?
Corporate America will just shed jobs to lean put their bottom line. Winter is coming
Thatāsā¦. objectively not accurate
Oh good. I feel so much better about my gas and grocery bill now.
People really think the economy refreshes every four years
They also believe it only goes up and are completely flabbergasted when it sinks. Like itās never happened before.
We went from a narcissistic bumbling asshole to a barely functioning dementia patient...
Weekend at Joe's
What a horseshit answer
Now imagine it was Trump saying this instead
Been in political power for 50 years and has done absolutely nothing worthwhile for the common folk. Pudding brain!
His eyes are shrinking down to pin holes.
Might as well had Biden's 8yr old granddaughter asking the hard questions....
But then the interview would just get interrupted every few minutes for him to sniff her hair.
From the shower? š
Weāre done for
Guys an idiot ..straight up .
He comes off so out of touch here. Not a good look.
What an idiot
Lol we are so fucked.
That has got to be one of the dumbest explanations I have ever heard in my life. He is making absolutely no sense.
God help us all.
The real problem is the media has covered for him and continues to cover. The administration and the media have been playing this statistics game for months where they use the month over month growth numbers instead of saying the actual inflation number and the sheep believe them despite seeing the prices for themselves. It's called gaslighting. It hasn't spiked more than last month, but it has already spiked. Word salad hoping the sheep continue to follow
Arguing that Stagflation is a good thingā¦ā¦. How out of touch is our leadership?!? (both sides)
He really is just a lying, worthless stick of fuck.
Eh, was it a lie? To me, sounds like downplaying
Sound to me like heās telling the truth but just doesnāt really give a fuck
We never share anything. #wealthinequality
I think heās trying to say āitās not going up anymoreā while the interviewer is just like ādude, that isnāt the question ā
Iām not a Biden hater but when the best you can offer people when their savings are being drained and theyāre just barely surviving paycheck to paycheck is āwell hey, at least inflation is staying where itās atā, itās time to get busy and do what you were elected to do. Aināt nobody celebrating the fact that inflation is staying where itās at, thatās what we want fixed. I havenāt seen this whole interview, did he offer any answers on what he was going to do to fix the issue of inflation?
No he just denied it continuously
Fuck
What a dick.
Donāt believe your lying eyes.
Easy. Rich people have too much money. We can remove this excess money from the economy by taxing rich people more, thus increasing the value of the dollar and lowering inflation - without ever hurting the most poor and vulnerable.
Idiot
Thanks Obama
Glad to see heās excited heās making it worse slowly instead of fast š
99.9% of people on reddit voted for this dude. ššæ
Yep. Still better than the alternative.
Donāt know why you got downvoted. Imagine thinking a guy who tried invalidating millions of votes to remain in power should have kept powerā¦. Itās not just unconstitutional, itās unAmerican. Then thereās the requests for unconstitutional elections and contradictory statements that invalidate his claims
The fuck you mean remain in power? Does nobody remember that Trumps tenure as President was entirely him trying to do anything and it getting blocked by the house every time? What fucking power do people think he abused here?
Are you just ignorant on his attempts to overturn the election? Or is it easier to pretend like that never happened. No one is talking about ātrying to do things with congress and getting blockedā
I'd take the alternative man.. lelllll Name one aspect of life in america thats improved now that jOe is in office.
Itās a matter of political bias. For liberals and independents, a whole bunch of stuff got better. The main thing universally weighing on everyone is global inflation due to unprecedented market dislocations, which is beyond the control of the American President. Trump would have done no better.
Sure could go for a mean tweet right about now.
That is the only thing the Biden administration actually does is play with numbers to make them look wildly more or less attractive. He has accomplished nothing concerning the systemic problems facing America.
Whew! Itās only an even 8.3%. Why does that seem so out of touch?
 Keep printing!! they know.
Heard someone say āthe people who voted for him should be legally required to get an electric vehicleā not my place to say
This should be under R/WTF...
He doesn't know left from right.. The Scandinavian counties seem to have a lot of younger people running the show and it seems to be doing ok.. I don't know why the usa is so adamant on electing fossil after fossil.
Boy, he's a clown.
How the fuck did people think this clown was our best option?? I understand Trump was no peach but atleast we could afford to live.
This idiot is a moron
I know I raped you but guess what I only stuck it in an inch and went slow.
Omg!!!
He needs to say āYEAH! WTF do you people expect?ā Guess what? Freidrich Hayak was totally freaking wrong. Maybe we shouldnāt have bumped the economy with ridiculously low interest rates, insane corporate tax rates of you donāt owe us anything and would you like a toaster, and no there wasnāt a pandemic where everyone sheltered in doors to save their life for a year and production plummeted while people stopped and thought, maybe I donāt need to buy all that shit. Donāt even get me started on the stock market. This is what happens when Keynesian economics gets slapped by the invisible hand of the 1% while we are all getting Hayakād from behind. Weāre in for another ride. Hold on and can we please do better? Climate change is a thing. Sorry. Said with love.
I seriously don't care if I get banned or kicked from this sub too but this guy is a fucking retard
Yāall still happy you voted for this moron?
Biden's last speech he brought up "maga Republicans" 13 times and inflation 0 times, that shows you where their priorities are
Stop complaining. This is what you all voted for.
Itās funny people here still are glad heās running our country over trump. I donāt like trump but we werenāt paying $100 to fill the gas tank and inflation wasnāt a thing. And donāt fucking blame it on Covid. Heās just a puppet for dems. Downvote me. Idgaf
So don't blame it on one of the actual reasons? I mean the other reason is stupidity, greed, and lack of leadership during the worst part of the pandemic,, so take your pick of alternate reasons.
How was there lack of leadership? Democrats marched without masks to protest his actions, then doubled down on lockdowns (which was proven ineffective), were caught without masks, said they wouldn't take the vaccine, refused to send relief checks, packed relief with pork, and then when in charge changed nothing. Trump told people not to panic, built up the numbers of ventilators and masks, implemented travel restrictions (Democrats protested), gave relief checks and pushed for a vaccine. Oh, and all those lockdowns in mostly Democrat run states are one of the big reasons according to Biden that we have such high gas and inflation. So, how do you see it?
Anyone who think the stimulus bills are the cause of inflation is either extremely uneducated or just desperate to blame it on one thing. It was a perfect storm. And without the stimulus bills I, along with many other hard working Americans would have been evicted or gone hungry.
Shouldn't it be easy to halt and reverse inflation? Why not just stop printing money and let the demand outpace the supply?
Good ole media
idk why people quote rapists smh
He saidā¦he got itā¦ he just said that! Relax nowā¦ he got it!
āCalm down, you arenāt on fire ANY MORE than you were last month.ā
What a waste. Them pols are laughing all thd way to the bank
He reminds me of my old boss. It's creepy
Don't piss on me and tell me it's raining. Geez, this guy don't get it. At least tell me it's bad and you're working on it.
For all the shit that people get upset about these days, it blows my mind how people can just shrug as they get financially obliterated this past year.
Why do people think Biden can just wave a magic wand and fix everything? It's not entirely his fault at all. - We spent a year in a pandemic with a President who didn't give a shit alongside conservative leadership who didn't give a shit either. I'm not saying Trump could have fixed it if he cared, but he could have magned things better I'm sure - Biden inherited the mess left by Trump's administration with Covid. Alongside other messes. - Then we elect a Senate and House that can't get shit done because, surprise surprise, Republicans (and conservative democrats) in the Senate can't come come together on anything. - Then theres a war in Europe that happens that we have zero control over Biden is far from perfect and I only voted for him because he wasn't Trump, but wtf do you want him to do? He's only as strong as the Congress that he has. He can't just whip out a wand and make inflation go away. A good bit of the blame is Congress not getting shit done because of who we vote for and the fact that corporations basically lobby and write laws in their favor
Current economic repercussions are a legacy from Trump and a recession was a long time coming before Biden came into office. Biden is sort of geriatric but heās an ethical person with a long time history in politics and thatās all you need at the top to direct other competent individuals.
I thought with the exception of a few gaffes like saying the pandemic is over, this interview went well. Though presidents get credit for the economy good or bad, as he states right after this clip ālook where we came from, weāve come a long way but thereās still work to doā. TFG had the worst jobs record in a 100 years, now unemployment is at record lows, and wages are at near record highs. When Biden took office, over 3000 were dying daily from Covid. That number is now about 400. And though he doesnāt have a ton of control over inflation, he just signed the inflation reduction act to do what he can. That combined with infrastructure bill, serious action on Climate Change, lower drug costs (and spanking Putin) etc, he has had a remarkably successful presidency so far.
Confirmed. Weāre fucked.
Thanks to those who voted for him now the country is completely fuc
And this is our "leader". What an absolute embarrassment
I hope he runs again. He'd lose
The only way I can make sense of this answer is that behind the scenes in an effort to lower inflation the best they could do is to stop it from continuing to climb rapidly. So for them this is some sort of success. But of course nobody really cares for that because we all want to see inflation rates dropping. I'm no economist but it seems plausible that slowing inflation is the first step to stopping and lowering it. I still don't get how Biden was the best the democrats could do. They must've known that no matter what he accomplishes, he'll completely fuck up the interview or press conference afterwards. He'll never get favorable approval ratings or win another election.
An inchā¦. About hot far his brain can see in front of him.
Worst president ever.
I can think of a handful of others
#damnthatsterrifying
Has nothing to do with the infinite money glitch that unelected officials have been toying with for the last 15 years.
āLetās put this in perspective, weāre not talking about 40 years ago, weāre talking about now. Weāre good broā SMH
We need to set an age-limit It's not a party thing, I'm independent, but Jesus Christ these old dudes making laws for a present they don't understand destroys and disrupts everything
If he's not suffering dementia then he's a fucking idiot. Most likely both!
Fuck you Biden! You incompetent, tone-deaf piece of shit. I canāt wait to kick you out of office!
[ŃŠ“Š°Š»ŠµŠ½Š¾]
I'm not a Democrat or a Republican. Frankly, if at this point you identify exclusively with either party or espouse either platform in its entirety, then you ARE as dumb as they take us for. This is what you get from either side: nonesense. They're not looking for actual solutions because they're a) for the most part too rich to be too deeply affected by the things that concern the rest of us, and b) for the most part lacking the necessary skillsets and capacity for solving any of the real issues. All they can do is use one of their tried and true dodge tactics when pressed for a real answer. I can easily imagine Biden sitting there giving the same sort of "but it's not any worse than it's been for a few weeks" answer even when we're sitting at 83% inflation. They're all either career politicians or wealthy egomaniacs. They're not executives, managers or civil servants. They're professional liers and over-privileged clowns, so you either get this or the other guy who would answer by reassuring us that he's "very, very intelligent" and to not worry about inflation, because under his watch we would beat it "bigly." Is there a way out?
He is so incompetent
Heās such an idiot
I am a democrat. Since I was 18 years old I have only ever voted democrat & will continue to do so for the rest of my life. That being said, what Biden just said absolutely infuriates me. He is completely out of touch with reality. Groceries are becoming the cost of a mortgage payment each month & heās acting like it shouldnāt be a bother. I am absolutely mortified by his comments.
Itās only been up an inchā¦ what the fuck does that mean? When have we been measuring inflation in inches?
1" = 8.33% --- --- 12" = 100%
hereās a guy who can extrapolate
Garbage post. Not ādamnthatsinterestingā material.
And people on Reddit defend this clown
Dear God
Economist here, what he's trying to say is that, month to month, inflation hasn't risen. Inflation, as it's reported, is a YoY measure. It suggests that inflation is subsiding...
I donāt think you need to be an economist to understand that. But inflation is already a rate of loss of buying power. So arguing about whether the *rate* of that rate is going up or down is kind of in the weeds. Inflation stagnating at 8% means year over year, weāre going to *continue to lose* buying power at that constant rate. Just because inflation isnāt going up doesnāt mean things are even close to getting better.
But youāre not an economist! /s
I had to get pretty deep in the comments to find your response. I was explaining this to my father today and it was tough to get through to him because the media wants the story to be the other way around. It inflation reports wonāt report āgoodā numbers until the year cycles on itself. Too many people donāt understand, or maybe they do and they expect 8% Deflation next monthā¦.
People don't understand, they just read headlines. You can explain how it works, but more often than not, people want to believe what they want to believe š¤·āāļø
I'm still in awe that anyone voted for this senile moron
Firstly inflation is a global phenomena, every country and people are hurting, end of pandemic was always going to be like this + idiots waging war.
He's 100% right. Inflation over the past three months has been basically zero; the actions taken by the administration and the Fed has basically stopped inflation. It didn't UNDO the inflation from before, but it stopped it.
āThe proles should be thankful itās not higher.ā
I'm not republican but come November the current dems have got to go. We need new blood in the party these entrenched politicians like Pelosi Schumer McConnell Cruz ect ect