this post was submitted on 08 Nov 2024
564 points (79.6% liked)
Political Memes
5484 readers
3041 users here now
Welcome to politcal memes!
These are our rules:
Be civil
Jokes are okay, but don’t intentionally harass or disturb any member of our community. Sexism, racism and bigotry are not allowed. Good faith argumentation only. No posts discouraging people to vote or shaming people for voting.
No misinformation
Don’t post any intentional misinformation. When asked by mods, provide sources for any claims you make.
Posts should be memes
Random pictures do not qualify as memes. Relevance to politics is required.
No bots, spam or self-promotion
Follow instance rules, ask for your bot to be allowed on this community.
founded 1 year ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
Actually they're not wrong, wages were not increased to keep up with inflation so stopping it alone wasn't enough.
https://fred.stlouisfed.org/series/LES1252881600Q#0 Real wages are up since Covid was dealt with. That's simple factual reality.
The perception of course, is that everything is worse. Because prices did go up, and they're staying there. Which just means the economy didn't collapse and cause mass unemployment.
I think the problem is that inflation does not impact the poorest population the same:
The CPI weighting is based on an average consumer, the poorest people will have more sensibility to price change for things like food or rent.
Rent and food prices increase in total by 20-25% in 4 years. If you were already tight at the beginning of the Biden presidency, you're now have a high chance of being homeless.