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Personal Income Increased by 0.3% over in the month in February


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Personal income is up, real average hourly earnings are up, jobs are up, and unemployment is fairly low (3.9% as of feb. 2024). All in all.. this points to an economy that is doing ok. Is Biden responsible for this? Not really. Furthermore, the true jobs number, QCEW, shows an increase. CES, the monthly jobs number, is an estimate and is revised each month. Why? Because there is new data in the form of unemployment insurance claims and such. If this continues.. it may help Biden win in NV and MI. 

 

https://www.bls.gov/news.release/empsit.nr0.htm

https://www.bls.gov/opub/ted/2024/real-average-hourly-earnings-increased-0-6-percent-from-march-2023-to-march-2024.htm

https://www.bea.gov/news/2024/personal-income-and-outlays-february-2024

 

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2 minutes ago, impartialobserver said:

Personal income is up, real average hourly earnings are up, jobs are up, and unemployment is fairly low (3.9% as of feb. 2024). All in all.. this points to an economy that is doing ok. Is Biden responsible for this? Not really. Furthermore, the true jobs number, QCEW, shows an increase. CES, the monthly jobs number, is an estimate and is revised each month. Why? Because there is new data in the form of unemployment insurance claims and such. If this continues.. it may help Biden win in NV and MI. 

 

https://www.bls.gov/news.release/empsit.nr0.htm

https://www.bls.gov/opub/ted/2024/real-average-hourly-earnings-increased-0-6-percent-from-march-2023-to-march-2024.htm

https://www.bea.gov/news/2024/personal-income-and-outlays-february-2024

 

Inflation is up, gov't spending is up and interest rates remain high.

The economy is enjoying a bounce from gov't spending but the average person isn't because of inflation and interest pressures.

Economies are 'doing well' when the growth is driven from the market naturally and inflation is low.  when you artificially stimulate an economy then inflation goes up, and you're setting up for an inevitable and eventual crash. It also tends to erode productivity in the long run.

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22 minutes ago, impartialobserver said:

And that is the one and only metric in an economy.. interesting. 

It's pretty damn significant, don't you think? The needle on food prices isn't moving either. 

I guess you cultists are into walking and fasting. 

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2 minutes ago, Deluge said:

It's pretty damn significant, don't you think? The needle on food prices isn't moving either. 

I guess you cultists are into walking and fasting. 

It does matter but it is not the only thing that matters.. surveys back this up. I am interviewing for a new job in two weeks that will hopefully cut my daily commute down from 85 miles round trip to 7. Even if gas prices were not high.. I would prefer less driving to more. 

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40 minutes ago, Deluge said:

Gas is going up too. F*ck off, democrats. ;) 

Gas ALWAYS goes up for the summer vacay season, lDIOT.

Tell Trump to tell Putin to surrender and gas will get cheaper when sanctions are relaxed.

Or maybe you can send a note and a check direct to Putin if you're brave enough to violate the sanctions....

Be sure and post your details here. LMAO

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Just now, robosmith said:

Gas ALWAYS goes up for the summer vacay season, lDIOT.

Tell Trump to tell Putin to surrender and gas will get cheaper when sanctions are relaxed.

Or maybe you can send a note and a check direct to Putin if you're brave enough to violate the sanctions....

Be sure and post your details here. LMAO

No, dumbass. 

Tell the hair sniffer to get off climate scare. Nobody's buying it. ;) 

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1 minute ago, robosmith said:

Gas ALWAYS goes up for the summer vacay season, lDIOT.

Tell Trump to tell Putin to surrender and gas will get cheaper when sanctions are relaxed.

Or maybe you can send a note and a check direct to Putin if you're brave enough to violate the sanctions....

Be sure and post your details here. LMAO

no president would willingly let gas prices go up.. and yet for every president since Nixon.. the gas price at the end of their time was higher than when they left. If they control it.. why would Republican presidents let this happen?

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20 minutes ago, impartialobserver said:

It does matter but it is not the only thing that matters.. surveys back this up. I am interviewing for a new job in two weeks that will hopefully cut my daily commute down from 85 miles round trip to 7. Even if gas prices were not high.. I would prefer less driving to more. 

I never said it was the only thing, yet you keep gasbagging as if I have. 

Fuel has been going back up, food's always up, and housing is a f*cking nightmare; when does it cool off, comrade? 

 

Edited by Deluge
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2 minutes ago, Deluge said:

I never said it was the only thing, yet you keep gasbagging as if I have. 

Fuel has been going back up, food's always up, and housing is a f*cking nightmare; when does it cool off, comrade? 

 

So if it is not the only thing.. why are so focused on it? You cherry pick one item and pretend that you are not fixated on it..

As for when some things go down in price? Not sure. Housing in the Western US is not going to suddenly become affordable when Trump is elected. Most of the major housing market saw major price increases during Trump's last term. If he controls it.. why did the average home price in Boise increase by 50% from 2016 to 2020

https://fred.stlouisfed.org/series/ATNHPIUS14260Q

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13 minutes ago, impartialobserver said:

no president would willingly let gas prices go up.. and yet for every president since Nixon.. the gas price at the end of their time was higher than when they left. If they control it.. why would Republican presidents let this happen?

Presidents do not control higher demand in the summer vacay season.

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10 minutes ago, Deluge said:

I never said it was the only thing, yet you keep gasbagging as if I have. 

Fuel has been going back up, food's always up, and housing is a f*cking nightmare; when does it cool off, comrade? 

 

You need to stop whining about not knowing how to shop.

Just now, impartialobserver said:

Do president control gas prices in general? 

Not directly, but they have some control over how much the fossil fuel producers can POLLUTE the atmosphere. AKA environmental subsidy to their profits.

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2 minutes ago, impartialobserver said:

Do president control gas prices in general? 

oh HELL yea.

Their foreign policy - their support of or repression of the oil industry.  their fiscal policy and it's effect on inflation . etc etc

Presidents have a HUGE control over gas prices. Sometimes in order to pursue an agenda they have to let it go up and sometimes other forces come into play but they definitely do affect gas prices.

Biden's very very first action in office was to cancel an oil pipeline with canada that would have helped keep gas prices lower.  So there you go .

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Posted (edited)
4 minutes ago, CdnFox said:

oh HELL yea.

Their foreign policy - their support of or repression of the oil industry.  their fiscal policy and it's effect on inflation . etc etc

Presidents have a HUGE control over gas prices. Sometimes in order to pursue an agenda they have to let it go up and sometimes other forces come into play but they definitely do affect gas prices.

Biden's very very first action in office was to cancel an oil pipeline with canada that would have helped keep gas prices lower.  So there you go .

So then explain why the price of gas during trump's time went up? If possible, can you give some objective data and not just partisan opinion? Would you say the President's decision are the number one variable in the price? 

 

https://www.convenience.org/Media/conveniencecorner/Does-the-President-Control-Gas-Prices#:~:text=Turns out that U.S. presidents,consumers pay at the pump.&text=(Editor's note%3A This blog was,%2C including record gasoline prices.)

Edited by impartialobserver
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3 minutes ago, impartialobserver said:

So then explain why the price of gas during trump's time went up?

It didn't really.  It spiked for a short time and went down, which coincides with his own version of economic stimulus, which was the tax breaks.   As  i said - sometimes the presidents other policies lead to price increases. 

Quote

Would you say the President's decision are the number one variable in the price? 

Sometimes for sure - bomb the middle east and tell me if it has an effect :)

Fuel prices are driven by how much demand there is vs how much supply there is.  The president can have a VERY strong impact on both.  Other things can too, but there's no doubt that presidential policy has a very large impact both directly in the form of his impact on fuel and oil production as well as indirectly in the form of economic and fiscal policy.

Quote

If possible, can you give some objective data and not just partisan opinion?

Oh you mean like a blog? Like you did?  Yeash.

Sure - here you go. https://www.econlib.org/can-the-u-s-president-affect-world-oil-prices/

Do you really need some sort of proof that the gov't can impact fuel supplies or demand? If you really really need that i'll go get some crayons and explain it.  But please - lets not get into sealioning

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Posted (edited)
6 minutes ago, CdnFox said:

It didn't really.  It spiked for a short time and went down, which coincides with his own version of economic stimulus, which was the tax breaks.   As  i said - sometimes the presidents other policies lead to price increases. 

Sometimes for sure - bomb the middle east and tell me if it has an effect :)

Fuel prices are driven by how much demand there is vs how much supply there is.  The president can have a VERY strong impact on both.  Other things can too, but there's no doubt that presidential policy has a very large impact both directly in the form of his impact on fuel and oil production as well as indirectly in the form of economic and fiscal policy.

Oh you mean like a blog? Like you did?  Yeash.

Sure - here you go. https://www.econlib.org/can-the-u-s-president-affect-world-oil-prices/

Do you really need some sort of proof that the gov't can impact fuel supplies or demand? If you really really need that i'll go get some crayons and explain it.  But please - lets not get into sealioning

I simply am not convinced that in the big picture... not single instances, that the President's decisions are the number one variable. I put supply vs. demand in the number one slot with OPEC decisions in second and then US presidential policies in 3rd. I acknowledge that it does impact the price but pinning it all on the President and then expecting that when your candidate wins.. the price magically goes down is unrealistic and simplistic. 

If you check daily gas prices.. the price on Trump's last day was higher than on his first day. So, yes it go up. Not by much but math is math. 

The blog that I posted contained actual proven data. I was able to verify most of it... not all because that takes more than a few seconds. 

Edited by impartialobserver
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Just now, impartialobserver said:

I simply am not convinced that in the big picture... not single instances, that the President's decisions are the number one variable.

then you are choosing to be willfully ignorant.  I really can't help with that

And if you didn't think the presidents actions directly impact supply and demand then you have much education in front of you.

Can't think of an instance? Do you think the war the president is supporting financially and the sactions on russia have impacted world gas prices? Hmmm? do you think the money being out into the economy has an impact?  Etc etc,

Sorry but this is obvious to just about everyone. Presidential policy has a massive impact on gas prices both short term and long term.

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1 hour ago, impartialobserver said:

Personal income is up, real average hourly earnings are up, jobs are up, and unemployment is fairly low (3.9% as of feb. 2024). All in all.. this points to an economy that is doing ok.

There's a new theory in town.

What If Fed Rate Hikes Are Actually Sparking US Economic Boom?

A radical theory is spreading as economy defies expectations
‘The reality is people have more money,’ one convert says

https://www.bloomberg.com/news/articles/2024-04-16/booming-us-economy-inspires-radical-theory-on-wall-street

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1 minute ago, CdnFox said:

then you are choosing to be willfully ignorant.  I really can't help with that

And if you didn't think the presidents actions directly impact supply and demand then you have much education in front of you.

Can't think of an instance? Do you think the war the president is supporting financially and the sactions on russia have impacted world gas prices? Hmmm? do you think the money being out into the economy has an impact?  Etc etc,

Sorry but this is obvious to just about everyone. Presidential policy has a massive impact on gas prices both short term and long term.

The data does not back up your case.. Data is more effective in convincing me than subjective opinions. If they had complete control.. no president would ever let the price increase. It went up during Trump's time.. but he has 100% control over it. It is all a matter of degree.. when you have a price of $4.00 per gallon and you parse out the factors... you find that Presidential decisions are not the lead variable. 

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Just now, impartialobserver said:

The data does not back up your case..

It absolutely does. There is tonnes of data to suggest that putting billions or trillions of dollars into the economy will cause it to increase and prices will go up.  There is tonnes of evidence that gov't policy can affect supply.

You clearly know i'm right - you have to change my argument because you know you were wrong. Now you insist i claimed the president has "100 percent control" over it.  Which of course i said no such thing at all.

And of course it went up during trump's time and then it went back down again. This was explained to you.

You get like this every time an idea you like gets challenged - you completely start to ignore the facts and evidence and demand that black is white and get yourself killed at the next zebra crossing,

 

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50 minutes ago, impartialobserver said:

no president would willingly let gas prices go up.. and yet for every president since Nixon.. the gas price at the end of their time was higher than when they left. If they control it.. why would Republican presidents let this happen?

 

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44 minutes ago, impartialobserver said:

So if it is not the only thing.. why are so focused on it? You cherry pick one item and pretend that you are not fixated on it..

In other words, ignore high gas prices and pretend everything's ok. 

I don't roll that way, comrade, and neither does any other normal, thinking, person. 

Your article is shit. 

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