Economics

Do you agree with this? Too far to tell whether it's true from where I stand, but curious whether it feels right from the ground.

Biden's economic theory was that you can rapidly increase the wages of the poorest workers and the ensuing inflation could be mitigated with a soft landing. This proved correct, and voters hated it so much that no one will ever try it again.

Shadow Of The Nerdtree

Do you agree with this? Too far to tell whether it's true from where I stand, but curious whether it feels right from the ground.

https://x.com/agraybee/status/1854551209517949176?t=p3VleJZLH-b5aQFQ8mMZNQ&s=19

No I'd say that was the leftist plan but Biden ran against it. Average and median wages increased, but the federal minimum wage still $7ish/hr while rents have doubled in the past few years. The Dem narrative is the economy is good because their capitalist metrics are good but that doesn't help the working class and they don't get that.

I'm here to build global community. Artist, collector, father and husband, leftist, LGBTQ. Twitter @ OurCoOpFuture. pfp by xeriesjame. Creator of /solidarity

So you'd say the soft landing failed? Or that it left many people behind?

Left people behind. Inflation has come back down but it's still cumulative and increasing.

Yeah, saw this tweet as a reaction to the op.

In the end the word inflation makes it sound like an inevitable metaphysical force, when it's actually just price gouging for keeping profits high at the expense of consumers.

The Communist Party of China’s economic theory is that you can rapidly increase the wages of the poorest workers with virtually no inflation at all. And it wasn’t just “proved correct”, it was actually proved correct. https://t.co/4bC9ldlMrw

Kyle 🚄

Yeah, saw this tweet as a reaction to the op.

In the end the word inflation makes it sound like an inevitable metaphysical force, when it's actually just price gouging for keeping profits high at the expense of consumers.

https://x.com/KyleTrainEmoji/status/1854680971909775370?t=vJN-03Y5o05rdqoH5yqM7Q&s=19