Comments by "wvu05" (@wvu05) on "FACT: Biden Has Delivered the Fasted Economic Recovery in History" video.

@georgefurman4371 Darn right! We need to stop thinking that people will know that things are going better when even in supposed lefty media, a lot bury the jobs and wages numbers and obsess over inflation as if to say, "See, this is what happens when the poor and workers get money. You should give it all to us instead and maybe we'll give you some of our scraps."
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@janwalenta3151 I have no problem finding toilet paper and cleaners like I did last year when those were literally being rationed. If you are really worried about the supply chain, then you need to talk to your representatives in Congress to tell them to get Build Back Better done.
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A lot of the shutdowns were lifted last year. Industries like restaurants still suffered because people just didn't want to risk it.
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@MrSoonerCal And since BLS started the unemployment surveys, no Democratic President has seen unemployment go up over the term in office (Carter saw the same on his first and last at 7.5%), and every Republican except Reagan saw unemployment go up (and his comparison benefited from Volcker tanking the economy before he got in office). Even with Saint Ronnie, until last year, he had the highest unemployment since the Great Depression (his peaked at 10.9%, and the Great Recession peaked at 10.0%). Since WWII, 10 of 12 recessions started under Republican Presidents.
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Wages have gone up as well. Things aren't as good as they should be, but they're much better than they were for the rest of us.
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@rurdy2rk380 The real question is whether or not Biden will get the word out that "we did this" to get the credit for it.
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@brettlarch8050 Sadly, it is in politics. You have to tell people what you have done for them. Most aren't going to realize it otherwise.
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Demand was artificially lowered last year. It was bound to increase this year. And wages are increasing at a faster level than prices, so while inflation is a little high, it's not the worst of problems, and with interest rates near zero, there is still plenty of room to maneuver on the monetary front.
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@Wizardofgosz Wages have gone up double digits this year. I don't care about "internet charts" if there is no data to back them up. I'll stick with the official numbers.
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@Wizardofgosz I put mine, and it got deleted. I even went back and put the titles, and they got deleted.
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@davidfaustino4476 Well, Bud Bundy, inflation is not that high. It has literally never been that high in this country since at least the creation of the FED. The current annual inflation rate is 6.8%.
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@DMAN590 The person I was replying to said it was several times that, so I was saying that it wasn't as high as he claimed it was. The normal range of inflation is 2-4%, so this is hardly the runaway inflation of the 1970s. With demand lowered last year due to the pandemic, there was bound to be higher inflation this year. If you factor that in, it is not at a crisis point. If you want to control inflation, you need to control the pandemic to keep it safe for people to go back to work and, you know, build supply.
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@DMAN590 I must say that it is quite revealing that you went to a number that high in a savings account to demonstrate your point. Speaking of savings accounts, with interest rates near zero, there is plenty of room to maneuver on monetary policy to bring inflation under control. We don't need to see rates in double digits.
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@DMAN590 No, the fact that you started with $100,000 in a savings account, considering that the vast majority of Americans have cash assets fsr lower than that. Not sure what you're "6.8% is 6.8%" is supposed to mean. Again, the historical rate of inflation is 2-4%. The most common way to deal with inflation is to increase interest rates. Unlike when Paul Volcker more or less intentionally put the United States into a recession to deal with inflation in the late 1970s and early 1980s, interest rates are near zero, so they can go up a few points and people still won't suffer like they did 40 years ago to deal with inflation.
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The economy had been reopened by the time Biden took office. His biggest numbers for job growth have been this summer, so it is way more than just riding the wave of good timing.
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@joelrivard5598 And yet the jobs didn't come back under Trump, because demand wasn't there due to the fact that we were in a much worse place with the pandemic. Considering the way that Trump was obviously inflating the stock market (the P/E ratios in 2018 as markets were starting to enter bear territory were higher than the dot com boom, so we were clearly in need of a correction) shows that economic gains weren't being widely shared. Real wages have also gone up in the last year the way they haven't in decades.
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@joelrivard5598 Real wages is wages minus inflation. Wages have gone up double digits while inflation is six percent. Therefore, real wages are up.
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@joelrivard5598 If you are reduced to this, you have already proven how weak your argument really is.
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@joelrivard5598 Inflation statistics are year over year. If it was six percent a month, prices would have nearly doubled in the past year. If such ignorance weren't so sad, it would actually be pretty funny.
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@joelrivard5598 It is year to year. Do you need to read the whole story? It is reported monthly, but the basis of comparison is the year before.
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@joelrivard5598 The mere fact that you acknowledge that the previous was year over year while pretending that they suddenly changed their metric says more than anyone else could ever say to point out the flaw in your statement.
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@joelrivard5598 Gee, I thought you were going to provide your evidence. If you are going to argue that it is 6.8% for the month of November alone, which would mean an annual rate of 120%, thus having the rate increase 20-fold in one month, it is your responsibility to provide that evidence.
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@joelrivard5598 YouTube doesn't let a lot of people provide links, you whiny winger. Provide the article name and title, then.
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@joelrivard5598 And I know that you're either lying or stupid, because I have seen those stories, and I actually know to do the math to figure out what that kind of rate that you are claiming means. The 6.8% is over the past year.
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@joelrivard5598 And again with bringing up something completely irrelevant to the conversation to distract from the exposure of either your dishonesty or ignorance. It didn't work the first time, and it won't work this time, either.
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@joelrivard5598 I just read an article from USA Today that talked about the Fed considering raising interest rates. And it talks about the inflation in November at a 6.8% annual rate. Gee, what a shock. A right winger who didn't know how to interpret data. What a shock. Let me limber up so I can do my victory lap for being accurate about how inflation is measured.
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