• Lavitz@lemmings.world
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    4 months ago

    This! This! This!

    Anyone who can afford to invest seems to be doing fine and everyone else is screwed. Rent, bills and the cost of food are out of control.

    • Zak@lemmy.world
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      4 months ago

      The weird part is people think the president caused any of that or has the ability to fix it.

        • Zak@lemmy.world
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          4 months ago

          He is a politician running for reelection in a tight race. He’s going to claim credit for anything good that happened during his term that voters might possibly believe.

          That’s not even meant as a criticism; it’s just how the game is played.

            • Zak@lemmy.world
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              4 months ago

              Politicians claim all sorts of things that have, at best tenuous connections to reality.

              We shouldn’t accept the claim that Biden fixed the economy, nor Trump’s claim that Biden broke the economy, nor either of their claims that they’re going to fix it next term.

      • Lavitz@lemmings.world
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        4 months ago

        There’s this thing presidential candidates run called a campaign and in this campaign they lay out their economic policies.

        • Zak@lemmy.world
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          4 months ago

          Presidential candidates certainly say things about the economic policies they’d like to see enacted, but most of the actual policy making is up to congress, and monetary policy is the domain of the Federal Reserve.

          Factors which no part of the US government has direct control over often have a bigger impact than those that it does, from plagues to wars on other continents to business conditions.

            • Zak@lemmy.world
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              4 months ago

              I do. I also know that Trump nominated Chairman Powell to his first term, and Biden nominated him to his second. Seems they agree on something.

              That’s not even unusual; four out of the past five Fed chairs were nominated by at least two presidents from different parties.

              • Lavitz@lemmings.world
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                4 months ago

                So we agree the president can make a significant change to the federal reserve which you said is involved in monetary policy. Which means…

                • Zak@lemmy.world
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                  4 months ago

                  A president could, in theory make a campaign promise about what kind of people they would nominate to the Fed board. A friendly enough senate might even confirm those nominees.

                  Other than the chair and vice-chair, board members serve 14 year terms, which are intended to help insulate them from politics. A president with very specific ideas about monetary policy could put their thumb on the scale a bit, but the system is designed to resist that.

    • aubeynarf@lemmynsfw.com
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      4 months ago

      61% of adults in the US invest - not 1 or 2%.

      Prices on food have been decreasing, and mostly were a result of supermarket chains dialing their profit margin up - look at Kroger and Publix’ YoY profit margin numbers.

      Housing prices are currently seeing downward pressure. The zero interest rate is what blew up the bubble - and we’re now seeing the effects of correcting it back to a normal rate.