You must log in or register to comment.

Textification t1_j19rr3s wrote

Regardless of how the gop tries to spin it, democrats have been by far the more fiscally responsible party.


Frankie6Strings t1_j19xcp8 wrote

This has been true for a long time.


Jasmine1742 t1_j1cs3t9 wrote

This has basically always been true, ever since the advent of the two modern democratic and republican parties.


izzgo t1_j1ayomf wrote

> democrats have been by far the more fiscally responsible party

decade after decade.


VegasKL t1_j1b2o6n wrote

Yeah, it's always kinda odd (jk) how we seemingly have a major scandal or economic event which precedes a large recession, and the Dems pull us out of it.

It's almost like deregulation doesn't work over the long term for the economy as a whole, it just makes those industries rich until they collapse everything.

I guess the Dot-Com bubble could be attributed to Dems, but that might be from a lack of regulation (or slow moving regulation).


Art-Zuron t1_j1c6zqj wrote

I've heard the Internet called the "greatest experiment in chaos ever made" and I think that's part of why the dot com bubble happened. Neither the geezers nor the youngins really understood what it was. It was basically like Crypto. Unexplored frontiers. And, of course, like crypto, people quickly exploited that legal vacuum for nefarious purposes.

But, nowadays, while most of our elected representatives are still technologically illiterate, most of the population is pretty good at it. It doesn't help, however, that those illiterate fucks just do whatever ISPs and tech conglomerates bribe them to do though, otherwise we might have much better regulations.

A person is very smart but people are very stupid.


Shrederjame t1_j1cemmz wrote

clinton was basically Reagan but blue so your lack of regulation theory still holds true.


civemaybe t1_j1dj6eq wrote

He did repeal Glass-Steagel, which laid the groundwork for 2008.


214ObstructedReverie t1_j1e7uv6 wrote

The kinds of banks that Glass-Steagel prevented from existing (combo deposit and investment) actually fared better (due to their more diversified assets) in the 2008 crash than those that would have been allowed anyway.

It's much better to blame the Secondary Mortgage Market Engagement Act of 1984 from Reagan.

That bill allowed AA rates mortgage backed securities to be treated like securities, but did jack all to ensure that they were being rated properly. As a result, the system got poisoned by junk mortgage securities being thrown around as if they were as safe as government bonds.


Snoo93079 t1_j1bx4dn wrote

That's because Republicans don't believe in cutting spending. They just don't believing in taxes. Democrats have the audacity to believe that you need to think how both revenue and spending work together.


fgreen68 t1_j1clw0m wrote

Republicans don't cut spending because that's how they payoff their donors.


zaidakaid t1_j1c8wdo wrote

Wait you mean like how you’re supposed to run a business, or a personal budget? Blasphemy. What are these socialist falsehoods you speak of?


dirtballmagnet t1_j19m4d7 wrote

Wow, it's almost as if when you start paying people a living wage they suddenly find money to spend.


JackMitcham t1_j19o894 wrote

Which is a problem, according to the Federal Reserve.

This article is supposed to be bad news.


hillsons t1_j1a96k2 wrote

I'm so god damn tired of it always being labeled bad news no matter what. GDP is down, terrible news, recession looming! Wait, GDP is up, oh no, the fed is going to raise rates, horrible!


VegasKL t1_j1b3ira wrote

It's bad news "from the perspective of the economy" .. a healthy economy has a certain amount of unemployment, and growth.

When trying to cool it off to correct it, seeing more growth on top of it can be seen as a negative.

To the average person, it's seems like good news. We're living in very confusing times -- economic growth = bad, low unemployment = bad, massive layoffs in some industries yet still low unemployment = bad.

The problem is, it's not the wallet of the citizens, inflation is being driven by companies arbitrarily raising their prices (or reducing costs, features) because "everyone else is doing it." There's a reason some countries have a Windfall tax, so the government can step in and say "look here f***heads, you're gouging everyone."


hillsons t1_j1bekbn wrote

I wonder what would happen if we stopped letting 30 people own all the wealth.


laconicflow t1_j1at9vy wrote

Well, with the economy there's usually an upside to all news. Rates raised, short sell.


I_ONLY_PLAY_4C_LOAM t1_j1c3z8w wrote

I think what the fed is worried about is rising wages will entrench price increases that are causing inflation, and that the supply side issues we've been having since covid haven't resolved fully. It's not just that they don't like rising wages. The context is that rising wages won't mean much if everything else also rises. The Fed isn't some evil anti labor organization. They exist to prevent the next great depression, and the monetary policy to do that can look unintuitive.


Art-Zuron t1_j1c77vq wrote

Those prices ain't ever coming down. The inflations artificial. It won't behave predictably according to supply and demand.


lvlint67 t1_j1cb3jb wrote

There are still supply side issues. Sourcing things like electronic components and raw materials like silicon and aluminum are still not easy.

I'm not writing off corporate greed, but we are still recovering..


TooManyDraculas t1_j1e0gij wrote

Some of it. There's a ton of price gouging going on. Fiscal policy can't resolve that, legislation and other regulatory action can though.


kracer20 t1_j19r6lh wrote

All I hear about are employers saying they can't find workers. Other than not raising their wages as they should have, where did they go? Older folks have left the workforce, I hardly see HS students working anywhere. My only other guess is that as wages grew, some workers decided they could make it on two jobs, rather than three, or one job rather than two.


uberares t1_j1a3115 wrote

Over a million dead people from covid and four years of anti immigrant rhetoric.


reggiecide t1_j1a32gu wrote

Hundreds of thousands of working-age Americans died of COVID since 2020. Thousands Millions more have long COVID and may or may not be working.


CAllD2B t1_j1awtwa wrote

I work in grassroots canvassing; we shut down over 45 offices because of COVID and have only been able to get maybe 5 up and running because of the way the job market has shifted.


Morat20 t1_j1bgfl6 wrote

Well, it's almost always they didn't raise wages. Generally at all.

I've seen plenty of "20/hr" postings where it turns out they're offering 12 or 13 -- and other places are offering 15 or more.

After that, well, COVID killed off a lot of people and let a lot more disabled.


TooManyDraculas t1_j1e04nx wrote

I still regularly see $30k listings for white collar work requiring college degrees and years of experience. With a living wage sitting in the high $40k range.


samuelgato t1_j19ywp8 wrote

What is this living wage you speak of?

Prices have increased 16%, wages have increased maybe 4-5% tops


nexusjuan t1_j1a11zx wrote

I got a 30 percent raise. went from $12.50 to $18.50 in 3 months. With starting pay raised to $18. I work in a popular Italian chain restaurant as a cook. Base wages across this industry rose significantly.


[deleted] t1_j1a5cfr wrote

I have never been in a better financial position or felt this optimistic about my financial future. I wish that for everyone.


EvangelionGonzalez t1_j1aet0j wrote

Doing pretty well here myself. Did it hurt to invest so much money in my retirement for years? Yes. But now that I have more bills than before, I lowered my investment percentage. Putting more money in early in my career allowed me that flexibility. Feeling very positive about the future. Next step: Small starter home.


SirAwesome3737 t1_j1etlat wrote

Wages overall increased 6.4% for November, but for "job switchers" they got 8.1%


MysteriousRoad5733 t1_j1aubhf wrote

Who started “paying people a living wage” ? Who are the recipients of this living wage ?


Fuckedby2FA t1_j1apt3q wrote

No no no we need to give it all to the 1% they deserve it or something.


langis_on t1_j19u1la wrote

But how will the billionaires make money if we don't give them tax breaks!


Littlebotweak t1_j19pttr wrote

Did you hear that lesser known tech companies? You can stop pretending that twitter layoffs mean you have to freeze hiring. Thanks.

I expect Q1 to be better, but oy.


VegasKL t1_j1b48td wrote

A lot of these companies are just tightening their belt early in preparation for a 2008 level recession as to not be caught off guard.

If we don't get that, they'll start hiring again once they can't keep their current employees working 1.5 their work (to cover for the people they laid off). A lot of times with layoffs the workload doesn't significantly go down, they just burden the people who kept their job with the "be happy you're still employed" line.


I_ONLY_PLAY_4C_LOAM t1_j1c422o wrote

Ironically that preparation can cause a recession lol.


Art-Zuron t1_j1c6860 wrote

Self fulfilling prophesies be like


I_ONLY_PLAY_4C_LOAM t1_j1cbmym wrote

Unfortunately our economy depends much on sentiment


HardlyDecent t1_j1d9j76 wrote

What could possibly go wrong? Humans are rational, logical beings who...oh no.


Art-Zuron t1_j1dsb71 wrote

A person is very smart, but people.are very stupid.


Art-Zuron t1_j1c6fwc wrote

Not to mention that many workers were already working 2 or 3x what they were supposed to be working because many companies dropped to skeleton crews during covid to try and wring as much profit out of each and every soul that they had working.

"Nobody wants to work" and "Quiet quitting" didn't become dog whistles for no reason.


Reasonable_Ticket_84 t1_j1dnsz1 wrote

>Not to mention that many workers were already working 2 or 3x what they were supposed to be working because many companies dropped to skeleton crews during covid to try and wring as much profit out of each and every soul that they had working.

That actually wasn't common in the tech sector because demand for tech services was through the roof.


Reasonable_Ticket_84 t1_j1dnot7 wrote

>A lot of these companies are just tightening their belt early in preparation for a 2008 level recession as to not be caught off guard.

Many are also correcting for the COVID hiring bubble they went on. Seriously, Facebook went from 45k employees in 2019 to over 70k at the beginning of 2022. It's insanity not to call that a bubble. Alot of companies really went all in on "digital is the future forever" during COVID and unfortunately they have to scale back as reality sets in. Some actually did early in 2022, the larger tech companies held on but they are going to face the inevitable, hence why they started hiring freezes to try and shrink headcount through natural attrition rather than layoffs.


ExistingCarry4868 t1_j1ao0j9 wrote

The couple of tech companies I know both hired a half dozen people each. They weren't in desperate need of people, but a bunch of talent just hit the market.


Asst2RegionalMngr t1_j1c6cji wrote

The cost of borrowing keeps increasing as interest rates rise. Companies can't just keep hiring with free money anymore. They have to pay down their debt and cut costs. It has nothing to do with the strength of the economy.


Valid_Username_56 t1_j19matt wrote

Waiting for the pics of "I did this"-stickers.


8008sgme2damoon t1_j19objf wrote

Are you referring to conservatives when they place "Joe Biden did this" stickers at the ⛽🛢 pump?


Littlebotweak t1_j19ppli wrote

My gas is under $2.50 now, I’m gonna start putting up those stickers. Thanks, Joe!


NancyPelBroski t1_j19xpqk wrote

Someone was complaining because he tapped into the SOR to lower gas prices. I don’t get it, no matter what he does they will bitch and moan.


Littlebotweak t1_j19ykfj wrote

Well, before that they were complaining that he wouldn't do that, so yea. Damned if he do, damned if he do not.


Haunting-Ad788 t1_j1abuip wrote

Yeah dude. They don’t have an ideology other than “my team good” and “their team bad.” Expecting any nuance beyond that is a fools errand.


0zymandeus t1_j1a608w wrote

It was that low around here, but they ticked price up a dollar a gallon in order to price gouge ahead of this winter storm


EvangelionGonzalez t1_j1aej9g wrote

I saw this exact thing happen between my commute to work and lunch break. It was $3.15 on the way in, $3.90 at lunch. If you went two miles down the road, it was still around $3.25. It just happened that the $3.90 station is a much larger company and a much more trafficked area. Gouging people is disgusting.


lvlint67 t1_j1cbh9r wrote

I drive 20 minutes to work. Gas is consistently ~$0.50/gal more expensive on the work end. (Same chain).


diamond t1_j1azn3u wrote

I just love how every time the Republicans try to come up with an anti-Biden meme, it somehow blows up in their face.

First "Let's Go Brandon" gets turned into "Dark Brandon", and now all of their shitty little stickers are giving Biden credit for falling gas prices. Can't wait to see what they come up with next.


lvlint67 t1_j1cbkln wrote

Sometimes I just kinda wish I could get in on the grifting. It's such an easy market to exploit and separate from their money.


NancyPelBroski t1_j19xim1 wrote

That’s weird, republicans told me that we were in a recession because they are paying more money for their groceries.


[deleted] t1_j19nvzi wrote



SunsetKittens t1_j1akmzu wrote

I don't know. We'll see what the latest inflation numbers say later this month. Remember the Fed targets inflation - a cooling or cooking economy is just collateral.

If the inflation numbers come in good we may be seeing the super soft landing economists dreamed about. We might get good GDP growth and a pause in rate increases.

This news is not necessarily bad.


3v01 t1_j1alj9x wrote

Exactly. The fed isn’t pushing for a recession. They’re pushing for inflation to come down. This number doesn’t mean a whole lot to them assuming inflation continues how it did last month.


TopDeckHero420 t1_j19n8n5 wrote

Don't hear the R word much at all anymore.


LadiesAndMentlegen t1_j19qioy wrote

I feel like demand is simply still way too high right now. Unemployment in my small midwest city is like 2%. Anecdotally, my brother was recently fired for some stupid thing from his near minimum wage job, and despite a bad work history from being fired from all his previous jobs, he found a new well paying job nearly instantly. Employers are desperate.


TopDeckHero420 t1_j19qyh9 wrote

The employment situation definitely makes low wage churn more volatile. There's plenty of people willing to take your place (and the company's shit). On the flip side, as you note, there are plenty of opportunities for those who show they are capable of more than minimum wage jobs.


cmc t1_j19nzcp wrote

I hear it all the time! But it looks like the Fed may be succeeding in the "soft landing" that was planned.


Trompwnist t1_j1bppyf wrote

Infinite growth in a finite biosphere doesn't work


snoogins355 t1_j1bzibi wrote

We could be much more efficient. Nuclear power in particular


jayfeather31 t1_j19vji6 wrote

...and the Federal Reserve will take this as bad news and raise rates even more aggressively, regardless of the economic impact.


misuz_roper t1_j1bgm1b wrote

There go those Democrats.. making things better for all Americans. This must be investigated! Hunter Biden's laptop! Benghazi!


Mr_Bad_Example20 t1_j1aqhm6 wrote

Once gas prices settle and inflation drops what will they complain about ?


nillerwafer t1_j1axhy7 wrote

The stuff they always complained about, Trans people in the bathrooms, Gays kissing in public, sexy cartoon characters being drawn a little less sexy. You already know.


Mr_Bad_Example20 t1_j1ayxtj wrote

I guess there is always the migrant caravan invasion to fall back on as well


nillerwafer t1_j1azen5 wrote

The migrant caravans they they organized to send to Martha’s Vinyard thinking that the Libs wouldn’t know what to do with all these people, only to find out that they would treat these people with some compassion and that it wasn’t even remotely the catastrophe that the right wanted it to be? Those migrant caravans?

It cracks me up every time just how badly it backfired.


diamond t1_j1b0ltu wrote

We'll always have HunterLaptopTwitterGateGhazi. They'll be milking that tired old cow for the next 10 years.


hotmessexpress44 t1_j1c0dxj wrote

One will, conveniently, appear when the news is not in their favor right about election season.


lvlint67 t1_j1cc45a wrote

** "crime"

> Releasing a bunch of violent criminals from federal prisons has lead to skyrocketing crime

The truth: Biden pardoned anyone in federal prison for pure pot possession and urged governors to do the same.

but you tie that to something like bail reform and mention a few anecdotes they heard from a friend of a friend that the cops went to the same 3 times in one night because a dude was beating his wife and "they couldn't do anything"

It's annoying how they'll cherry pick half truths and tie it to their emotions.


getBusyChild t1_j1az8zm wrote

Hence why Powell is pissed off every economic quarter.


Niobous_p t1_j1d5wim wrote

This just means the feds will keep raising interest rates, because for some reason they now think a growing economy is bad.


Lawmonger t1_j1bxw4u wrote

Let the GOP complaints commence!


disneylegend t1_j1ck0dp wrote

That’s okay. We can make a comeback in the fourth quarter.


Coffeetruckowner t1_j1d7g7a wrote

But I thought we were running out if diesel?


Coffeetruckowner t1_j1d7wq7 wrote

I wish I would’ve kept track of all the silly theories my father-in-law had said to me over the last two years (that he has heard on Fox News) I would have to believe that none of them have come true. My question is, do they ever reckon those theories weeks, months, or years later that they were wrong? I mean yes they’ll never admit it publicly - but do they privately?