The Triumph of Bidenomics!

[Pommer]

When did I claim they did not have power? Still running the wires to supply 110V electricity to run a few vending machines and lights is nothing like supplying 1000V of electricity at over a thousand watts to supply a charging station that will be able to fast charge multiple EVs at the same time. It also doesn't make it any cheaper to upgrade the power lines over those miles of distance to get it to a rest area, gas stations, etc.

Edison’s DC system required multiple generating stations because of the limits of DC-transmission.
Perhaps it’s time to revisit his ideas, but with renewables as the “source”?

 

[Pommer]

This is off topic. I grew up in Laramie.
It has huge tracts of Federal, State and Tribal Land which are uninhabited.but other than that, there are people are everywhere.
There are areas in some States like Texas where there isn't any water so no people.
I live in a remote area. The nearest towns are far but drive any country road at night and see the many lights from residences.
During the day, a person would think no one lived out there in the middle of nowhere.

One might think that when they were “winning the west” that people would take note of where the Native Peoples didn’t live as well as “liberating” the ones that they did.

 

[essentialsaltes]

Dow hits 40,000 for the first time as bull market accelerates​

Wall Street advanced into uncharted territory on Thursday, with the Dow Jones Industrial Average topping 40,000 for the first time after a blowout earnings report from Walmart cast a positive light on the U.S. economy.

--

I mean, maybe you're not in the stock market, but (*chuckle*) don't worry! It'll (heh) ... trickle down to y- HAHaha.. trickle down to you from the wealthy and the investment banksss.sss.ss.ss

 

[hislegacy]

Yes Siree! one great advance over another - man, I'm getting tired of winning!

MSN

Inflation in the United States accelerated at a pace faster than anticipated in March, delivering a blow to hopes of an imminent interest rate cut by the Federal Reserve. The Consumer Price Index surged by 0.4%, surpassing economists’ expectations of a 0.3% increase.​

​

This uptick has pushed the 12-month inflation rate to 3.5%, marking a 0.3% rise from February. The unexpected surge in inflation suggests that the Federal Reserve’s goal of maintaining a 2% annual inflation rate might be harder to achieve than previously thought.​

 

[iluvatar5150]

View attachment 348275

Yes Siree! one great advance over another - man, I'm getting tired of winning!

MSN

Inflation in the United States accelerated at a pace faster than anticipated in March, delivering a blow to hopes of an imminent interest rate cut by the Federal Reserve. The Consumer Price Index surged by 0.4%, surpassing economists’ expectations of a 0.3% increase.​

​

This uptick has pushed the 12-month inflation rate to 3.5%, marking a 0.3% rise from February. The unexpected surge in inflation suggests that the Federal Reserve’s goal of maintaining a 2% annual inflation rate might be harder to achieve than previously thought.​

What's the average price increase across all items, not just those five?

 

[probinson]

What's the average price increase across all items, not just those five?

Fast-food chains such as Chick-Fil-A and Taco Bell are included in the limited-service meals and snacks category in the consumer price index report, which shows prices are up nearly 28% from 2019 to 2023. The full-service meals and snacks category, which covers sit-down restaurants with servers, meanwhile, has increased about 24% and overall CPI was up by about 19% in the same time period.​

​

https://www.cnbc.com/2024/05/04/why-fast-food-price-increases-have-surpassed-overall-inflation.html

​

 

[hislegacy]

What's the average price increase across all items, not just those five?

and here ya go!

Fast-food chains such as Chick-Fil-A and Taco Bell are included in the limited-service meals and snacks category in the consumer price index report, which shows prices are up nearly 28% from 2019 to 2023. The full-service meals and snacks category, which covers sit-down restaurants with servers, meanwhile, has increased about 24% and overall CPI was up by about 19% in the same time period.​

​

https://www.cnbc.com/2024/05/04/why-fast-food-price-increases-have-surpassed-overall-inflation.html

​

Thank's Pete - good Job Joe - probably why your people dropped Bidenomics as a byline!

 

[iluvatar5150]

Fast-food chains such as Chick-Fil-A and Taco Bell are included in the limited-service meals and snacks category in the consumer price index report, which shows prices are up nearly 28% from 2019 to 2023. The full-service meals and snacks category, which covers sit-down restaurants with servers, meanwhile, has increased about 24% and overall CPI was up by about 19% in the same time period.​

​

https://www.cnbc.com/2024/05/04/why-fast-food-price-increases-have-surpassed-overall-inflation.html

​

and here ya go!

Thank's Pete - good Job Joe - probably why your people dropped Bidenomics as a byline!

Ok, so a fair bit over inflation, but not multiple times inflation.

I'd also point out that workers in the lowest decile of wage earners 25+yo have, on average, seen their (nominal, not inflation-adjusted) wages rise by 25.9% over the same period.

Employed full time: Usual weekly nominal earnings (first decile): Wage and salary workers: 25 years and over

Graph and download economic data for Employed full time: Usual weekly nominal earnings (first decile): Wage and salary workers: 25 years and over (LEU0252916000Q) from Q1 2000 to Q1 2024 about first decile, full-time, 25 years +, salaries, workers, earnings, wages, employment, and USA.

fred.stlouisfed.org

It's 26.3% when you extend the age down to 16+.

Employed full time: Usual weekly nominal earnings (first decile): Wage and salary workers: 16 years and over

Graph and download economic data for Employed full time: Usual weekly nominal earnings (first decile): Wage and salary workers: 16 years and over (LEU0252911200Q) from Q1 2000 to Q1 2024 about first decile, full-time, salaries, workers, earnings, 16 years +, wages, employment, and USA.

fred.stlouisfed.org

IOW, relative to 2019, the average person working at one of these restaurants now has slightly more buying power at fast casual restaurants, slightly less buying power at fast food restaurants, and more buying power overall. Where's the problem?

 

[hislegacy]

Ok, so a fair bit over inflation, but not multiple times inflation.

HUH? Inflation remains 3.5% - rise in prices - 28%

Last I looked that was multiple times inflation - in fact a multiple of eight times.

 

[SimplyMe]

Ok, so a fair bit over inflation, but not multiple times inflation.

I'd also point out that workers in the lowest decile of wage earners 25+yo have, on average, seen their (nominal, not inflation-adjusted) wages rise by 25.9% over the same period.

Employed full time: Usual weekly nominal earnings (first decile): Wage and salary workers: 25 years and over

Graph and download economic data for Employed full time: Usual weekly nominal earnings (first decile): Wage and salary workers: 25 years and over (LEU0252916000Q) from Q1 2000 to Q1 2024 about first decile, full-time, 25 years +, salaries, workers, earnings, wages, employment, and USA.

fred.stlouisfed.org

It's 26.3% when you extend the age down to 16+.

Employed full time: Usual weekly nominal earnings (first decile): Wage and salary workers: 16 years and over

Graph and download economic data for Employed full time: Usual weekly nominal earnings (first decile): Wage and salary workers: 16 years and over (LEU0252911200Q) from Q1 2000 to Q1 2024 about first decile, full-time, salaries, workers, earnings, 16 years +, wages, employment, and USA.

fred.stlouisfed.org

IOW, relative to 2019, the average person working at one of these restaurants now has slightly more buying power at fast casual restaurants, slightly less buying power at fast food restaurants, and more buying power overall. Where's the problem?

Yes, if this were Trump they'd be crowing about how much more these people are being paid rather than complaining about inflation at fast food restaurants.

This is actually something I've thought would be positive for a while, as fast food is some of the worst food nutritionally -- so not only is it good that wages are going up but it encourages families to choose better, more healthy, food options that are now less expensive than fast food.

 

[essentialsaltes]

HUH? Inflation remains 3.5%

prices are up nearly 28% from 2019 to 2023. ... overall CPI was up by about 19% in the same time period.

 

[iluvatar5150]

HUH? Inflation remains 3.5% - rise in prices - 28%

Last I looked that was multiple times inflation - in fact a multiple of eight times.

Seriously? Maybe you should look one more time and actually read what it says:

prices are up nearly 28% from 2019 to 2023.

overall CPI was up by about 19% in the same time period

I emphasized the important parts.

The 3.5% inflation figure is the rate at what prices are currently rising when extrapolated out over the span of one year (i.e. if we had this month's rate of inflation every month for the next 12 months, then at the end of 12 months, prices would have risen by 3.5%).

That 28% figure is the cumulative rise over the course of four years.

3.5% inflation per year gets you to a cumulative rise of 14.75% after four years, but as we all know, inflation was quite a bit higher a couple years ago, which is why the post you quoted said that overall CPI was up 19% over those four years.

 

[QvQ]

This is actually something I've thought would be positive for a while, as fast food is some of the worst food nutritionally -- so not only is it good that wages are going up but it encourages families to choose better, more healthy, food options that are now less expensive than fast food.

Here is a site for Healthy Home Cooking and the inflation rate. Click the link below to see how much healthy home cooking has inflated

"On the site, launched by Make America Great Again Inc., users can select items from a list of household staples to compile a hypothetical grocery list. A calculator then compares prices for these items between the beginning of Biden’s presidency and now.

Checking off each item on the list shows an “under Trump” cost of $107.81 and an “under Biden” cost of $168.16. It amounts to a 55.98% increase.

BIDEN MART

Putting food on the table has become harder than ever thanks to "Bidenomics". As costs for everyday items continue to rise, American families are struggling more and more to foot the bill.

www.biden-mart.com

 

[iluvatar5150]

Here is a site for Healthy Home Cooking and the inflation rate. Click the link below to see how much healthy home cooking has inflated

"On the site, launched by Make America Great Again Inc., users can select items from a list of household staples to compile a hypothetical grocery list. A calculator then compares prices for these items between the beginning of Biden’s presidency and now.

Checking off each item on the list shows an “under Trump” cost of $107.81 and an “under Biden” cost of $168.16. It amounts to a 55.98% increase.

BIDEN MART

Putting food on the table has become harder than ever thanks to "Bidenomics". As costs for everyday items continue to rise, American families are struggling more and more to foot the bill.

www.biden-mart.com

I wish I could find exactly what they used as a data set. It says "USDA Data January 2021 to January 2024," but I can't find anything on the USDA website that covers all of those items for those dates.

 

[wing2000]

[I don't fault nor credit Biden for the decisions for over-sized Corporations setting prices....prices that have remained high even as the supply chain issues experienced during Covid are largly over--investors win at the expense of the nation's poor IMO]

This is encouraging for consumers buying staples...

Target says it is dropping the prices of 5,000 common items, joining a growing list of stores trying to draw inflation-weary shoppers.

Target's list of price cuts, posted on Monday, includes "milk, meat, bread, soda, fresh fruit and vegetables, snacks, yogurt, peanut butter, coffee, diapers, paper towels, pet food and more." The company said it has already lowered prices of about 1,500 items and will continue to do so throughout the summer.


Grocery prices generally have been fairly steady. They are up 1.1% over the past year, but actually dropped 0.2% between March and April, according to federal data. Major retailers have been putting new pressure on packaged-goods companies in particular, which have been raising prices while citing higher production costs.

https://www.npr.org/2024/05/21/1252616600/target-price-reductions-milk-butter

 

[o_mlly]

This is encouraging for consumers buying staples... Target says it is dropping the prices of 5,000 common items ...

Not so encouraging news for the 25.000 or so employees Target fired in order to lower those prices.

https://www.marketwatch.com/story/target-cut-25-000-jobs-in-the-past-year-even-as-it-increased-its-store-count-a0f84179

 

[iluvatar5150]

Not so encouraging news for the 25.000 or so employees Target fired in order to lower those prices.

https://www.marketwatch.com/story/target-cut-25-000-jobs-in-the-past-year-even-as-it-increased-its-store-count-a0f84179

It doesn't say they fired 25,000 people. It says that they cut that many jobs. I know they did cut some jobs when they closed stores, but average retail turnover is somewhere around 60%, so they could've easily made the bulk of that reduction just through attrition.

And anybody who's been in a Target the last couple years can see what sort of impact that reduced staffing has had on the experience of shopping there. It's not uncommon for me to see checkout lines 20-people deep. It's actually motivated me to go back to Walmart on occasion.

 

[o_mlly]

It doesn't say they fired 25,000 people. It says that they cut that many jobs. I know they did cut some jobs when they closed stores, but average retail turnover is somewhere around 60%, so they could've easily made the bulk of that reduction just through attrition.

And anybody who's been in a Target the last couple years can see what sort of impact that reduced staffing has had on the experience of shopping there. It's not uncommon for me to see checkout lines 20-people deep. It's actually motivated me to go back to Walmart on occasion.

Cut, fired, attrition ... doesn't matter how Target reduced its work force (and increased the number of stores) ... Target planned and did just that.

The point is that lowering prices and maintaining profits can only be achieved by cutting costs. Which Target planned and did.

"Target is here to help them save more", if you can find an associate to help you.

 

[iluvatar5150]

The point is that lowering prices and maintaining profits can only be achieved by cutting costs.

Well, one would hope they'd also look for ways to attract more traffic to the stores, but that doesn't seem to have been much of a priority IME.

 

[wing2000]

It doesn't say they fired 25,000 people. It says that they cut that many jobs. I know they did cut some jobs when they closed stores, but average retail turnover is somewhere around 60%, so they could've easily made the bulk of that reduction just through attrition.

And anybody who's been in a Target the last couple years can see what sort of impact that reduced staffing has had on the experience of shopping there. It's not uncommon for me to see checkout lines 20-people deep. It's actually motivated me to go back to Walmart on occasion.

...it seems you are not alone to occasionally shop Walmart.

The company [Walmart] reported 6% revenue growth to $161.5 billion and a comparable sales growth of 3.8% in its first quarter Thursday, which it said was driven by upper-income shoppers. Walmart was so optimistic it raised its outlook for growth to 4% from 3% for the year and expects adjusted earnings to be $2.37 per share, up from $2.23.

“We are seeing customers trade into Walmart,” Chief Financial Officer John David Rainey told Bloomberg on Thursday. “We’ve historically been thought of for value, but now it’s value, quality and convenience.”

Walmart is nabbing Target’s ‘Tar-jay’ rep and Amazon’s delivery crowd as even the wealthy flock to the retail giant

The big box retailer’s blockbuster earnings are mostly thanks to its focus on groceries and e-commerce.

fortune.com