Science posts are hard to write, and now I’m tired. So here’s some lagniappe: the latest comedy monologue from Bill Maher. The theme: the endless kvetching of Republicans about Biden despite the fact that Biden (and the economy) is doing pretty well. However, there should have been more audience reaction to Maher’s comment on Afghanistan’s “war on women.” What’s with that?
And three minutes of his stand-up bit:
“The economy is pretty good” is a song the Dems keep singing, but the fact of persistent inflation suggests that it’s not.
Inflation in the US is dropping steadily from a peak of 7.0% when Biden assumed office to a current value of 3.1%. Despite the slight uptick in Jan. 2024 most economist expect it to drop into the 2’s in 2024 which will prompt interest rate reductions.
Contrast that with Trump who has announced he would apply a 10% tariff on all imports. And despite his claim that originating countries pay the tariff, a 10% tariff on imports is paid by domestic consumers and would send inflation through the roof.
You might want to go look at the numbers, over the past several years.
Ii think that one cannot expect or aim at good economic parameters during a large-scale war.
But the economy is in very good shape except for inflation. But even that is dropping slowly and steadily and is now less than half what it was when Biden took office (7% –> 3.1%).
Inflation peaked in the middle of 2022 in the US. I think it was July and CPI came in at 9ish%. The economy is dizzyingly complex and I think Biden has received too much blame and credit. The cost of houses has inflated a lot. If you already had a house, it’s good for you. If you didn’t, it might be really lousy. That is before factoring in the current mortgage rates. The wage inflation picture is complex and in my anecdotal (highly noisy and poorly predictive) experience there is a lot of variation. Some people’s wages have risen awesomely (I have a relative who made out like a bandit) and others have not done so well. The cost of a vehicle is crazy. My 2020 RAV 4 hybrid was $33,500. The same trim of the 2024 model is 42,300 to 42,800. I may have gotten a deal though because it was in May of 2020 and they were trying to move vehicles. It may have been because of the social distancing rules. Not sure really. College tuition costs are pretty dystopian. That can’t be pinned on Biden. It may however color how young people vote. Comically, many are mad at Biden for not delivering on student loan cancellation. I suspect that some of the idiocy behind college student’s distaste for Israel and support of Palestinians stems from a lack of perceived prospects. I mean, his numbers are terrible with young people. Incidentally, I learned that from Bill Maher.
Other people have already responded but I have an article here
https://www.whitehouse.gov/cea/written-materials/2023/12/19/ten-charts-that-explain-the-u-s-economy-in-2023/
that should give you an insight into the real state of the US economy. The bottom line is that it is doing pretty well at the moment. I wish our economy was half as good as yours.
Average starting salary college grad: $55K
Average take home pay on $55K: $41K
Average rent, 1 bedroom apartment: $1500
That leaves about $2K/month for everything else.
Is it really surprising people are grumpy?
When I was young many people starting out would have roommates who shared an apartment. At 30% of 41K take home that would be about 1K for half a two bedroom. Very doable.
It’s fine for people to be grumpy, but it would be nice if their understanding of how those numbers came to be, how and when they’ve changed over time, where reasonably accurate.
$2k per month after taxes and rent seems not bad to me.
It would be good to see him at the White House Correspondence Dinner.
Later in that episode Anne Coulter (whom I don’t like) made a valid point: (about the shooting in KS): “If the shooter’s name isn’t mentioned, they’re probably black.”
I REALLY despise the way outlets in (like particularly the New York Times) MS media actively lie to us about crime statistics. Not just emphasis, they actively lie.
And a boat load of other shit they sell us. After 30 years I cancelled my subscription lately. And I never watch TV news – just too retarded.**
I used to work on Wall St as a trader and analyst: the financial press* can’t LIE to the investor class and stay in business. And, silly me, I like my news to not lie to me. So I just continue to read them to stay informed. And WEIT of course! 🙂
D.A.
NYC
*FT, WSJ, Economist
** apologies to the Boss, I know you like NBC news for some reason….
Coulter, who has many gay friends as you may know, was absolutely right about that “code” of presentation.
I’ve noticed it for years. In fact, when I heard about the KC shooting, I googled all the stories and noticed immediately how skimpy they were about details of the shooters. Within a couple of hours, pictures emerged of them…there were hundreds of cameras out there. But those pics were largely on right-leaning websites, like Libs of Tik Tok etc. and had been seen soon after by hundreds of thousands.
Of course, respectable media was in no hurry to find out about the shooters….
It’s a code, surprised that Maher doesn’t already know it, that many, many people already know.
from CNN
“Lyndell Mays, of Raytown, and Dominic M. Miller, of Kansas City, were both charged with second-degree murder” The other two being held are juveniles, hence no names released.
Did CNN publish their pictures or say anything about their demographics? I was trying to find article.
If not, there is little chance they are white.
What do people think about how well Biden is directly messaging about the economy, or about various other issues? Discounting the Orange One, who was always heard from, previous presidents were more available for press conferences and news sound bites and the media would gladly show them. I felt we could regularly know how the economy or this or that other issue was doing straight from the president,in past administrations, and so it was a bit harder to let political opponents just get away with unchecked spin.
But we rarely hear from Biden! And I suspect the reason why is that he now comes across as being so decrepit, that he is being hidden from us.
I hear him all the time touting his achievements. Maybe the media you watch/listen to doesn’t? He isn’t being “hidden from us”…that’s just a right-wing talking point. Also, as President, Biden actually does the work and is obviously very busy, unlike his predecessor who played more golf than actually working as POTUS and took every opportunity available to spread his propaganda to the captive media.
Biden is a doer — and he’s accomplished a lot, much of it against the odds, given what he was handed by the previous administration. Even so, I also see him all the time. Sure, it would be nice if he were as young, and as handsome, and as well spoken as someone like Gavin Newsom, but Biden’s experience and accomplishments make him a great president because he knows how to compromise and still get the good things done. The world would be in a much bigger mess had the orange loon been reimposed on America. I’m voting for Biden’s second term.
+1
I’m voting enthusiastically for him. I don’t care about “old and frail.” What’s that saying about actions speaking louder than words? As if FDR, one of our greatest POTUS, was ever a young and vigorous leader.
Yes indeed. And I’ve got a 3×5-foot flag version of my sign ready to fly.
https://x.com/jon_alexandr/status/1747086086936076342
Nice!
The economy is bleak in western North Carolina. Minimum wage is still $7.25 and apartment rents have pretty much tripled in the last two years.
Most renters are being evicted by outside investors converting the apartments into AirBnBs. The homeless population is skyrocketing and no one cares!
The environment is being utterly destroyed by developers building $600,000 to $1,500,000 McMansions. For whom? Retirees? certainly not the locals. They’re all moving to their cars.
“Right to work” states are always tougher on the poor.
With AirB&B in NYC they’re trying to scale them back because at scale it is terrible for the rental market – a touchy subject in NYC. Also in Prague, CZ, it is a big pain in the a** for locals.
Also in NYC – in some of the pricier buildings – the buildings themselves forbid it. I live in one such building. Built in 1985 is was snazzy then, still is really, and it is in expensive Chelsea in Sth Manhattan. About 150 apts, mainly singles/gays, etc.
More pets than kids. Like me/wife and our doggie! 🙂
Our building’s administrators scan the AirB&B listings and if one of our apartments come up they fine the owner the price they advertised their apartment at. Ouch.
Pretty strict. I understand it though as for a year or so we resembled a hotel!
The market is a great thing – and AB/B allows people to make some money on the side, but there need to be some limits.
D.A.
NYC
– in said building, with said doggie: https://whyevolutionistrue.com/2020/06/10/photos-of-readers-93/
I’m from NYC…I know all about it! Born in Greenpoint, I lived in the West Village for 20 years after NYU. NYC was so much fun in the 70s and 80s. So was I…lol
I HATE AirBNB. I have no neighbors, just affluent transients with stupid $10,000 e-bikes and designer doodle dogs! I volunterr for 5 rescue groups. The prop owners do the bare minimum to maintain their properties…all the rentals look like crap down here. I’m near Asheville. It’s a very rude awakening coming from NY! It’s so poor and everyone seems so apathetic… It’s not thriving in the slightest!
“Right to work” states are always tougher on the poor.
With AirB&B in NYC they’re trying to scale them back because at scale it is terrible for the rental market – a touchy subject in NYC. Also in Prague, CZ, it is a big pain in the a** for locals.
Also in NYC – in some of the pricier buildings – the buildings themselves forbid it. I live in one such building. Built in 1985 is was snazzy then, still is really, and it is in expensive Chelsea in Sth Manhattan. About 150 apts, mainly singles/gays, etc.
More pets than kids. Like me/wife and our doggie! 🙂
Our building’s administrators scan the AirB&B listings and if one of our apartments come up they fine the owner the price they advertised their apartment at. Ouch.
Pretty strict. I understand it though as for a year or so we resembled a hotel!
The market is a great thing – and AB/B allows people to make some money on the side, but there need to be some limits.
D.A.
NYC
– in said building, with said doggie: https://whyevolutionistrue.com/2020/06/10/photos-of-readers-93/
He’s often mean, but nearly always on point.