Summary

President Joe Bidenā€™s economic achievementsā€”lowering inflation, reducing gas prices, creating jobs, and boosting manufacturingā€”are largely unrecognized by the public, despite his successes.

His tenure saw landmark legislation like the Inflation Reduction Act, CHIPS Act, and major infrastructure investments.

However, Bidenā€™s approval ratings remain low, attributed to inflation backlash, weak communication, and a media landscape prone to misinformation.

Democrats face a ā€œpropaganda problemā€ rather than a policy failure, with many voters likely to credit incoming President Trump for Bidenā€™s accomplishments due to partisan messaging and social media dynamics.

  • HelixDab2@lemm.ee
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    1 day ago

    We can probably tolerate a little more disinflation, as a treat.

    No, not really, because deflation (not disinflation) tends to be self-sustaining, much like hyperinflation does. If the dollar I have today will buy two dollars worth of goods next week, then Iā€™m going to hold onto my dollar to make any sort of discretionary purchase until next week. When everyone does that, all at the same time, itā€™s like building a dam; the flow of money just grinds to a halt. Companies donā€™t have money coming in, so they canā€™t pay workers, which leads to layoffs, and the people laid off have no income to buy anything now, which feeds right back into that cycle.

    I agree with you that corporations need to be reined in, that executive salaries are out of control, and that things like stock-buybacks are the bane of a functional economy. But thatā€™s literally going to take legislation in this country to fix, in the same way that it did when the economy crashed in the 1920ā€™s, and I guarantee you that thereā€™s going to be zero political interest in that for at least two years.