I don’t actually blame Joe Biden (much) for inflation, but he is doing a victory lap claiming credit for low inflation this month so . . .
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Gee, from the looks of it the Biden recovery has hurt workers more than the the 2008 recession.
If this is a strong economy, I don’t want to think about how bad a Biden recession would be. 
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Can’t campaign on the economy or middle class wages.
Yup.
Data from the St Louis Fed (my go to source for reliable data)
Shows the same.
Bidenomics, so far is worse for workers and wages than the Great Crisis of 2008-2010.
I’ve got a pretty good idea how this happened.
The most recent jobs report (the one Joe Biden and his supporters hailed as proof that Bidenomics is working) contained some interesting information when you read the whole report and not just the media headlines.
Apparently over the past 12 months a whopping 40% – YES 40% – of all new jobs created in the US went to persons born outside the US.
Page 19 - https://www.bls.gov/news.release/pdf/empsit.pdf
I guess when you have historically-high inflation, and an historically-tight job market the one and only thing that can prevent companies from offering higher wages would be a tidal wave of immigrant labor.
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It’s obvious rent is high because interest rates are at a 22 year high, and I don’t see this stopping, if somehow by a miracle Biden gets re-elected and this continues the Dems could lose midterms and more for the foreseeable future. You can’t have interest rates go up and not expect property taxes and credit line demands go up. A one bedroom apartment in Dallas in 2019 was 1700 dollars, now it’s 2100 dollars. It’s starting to get ridiculous.
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When cheap apples are not longer available, the price of oranges goes up.
When there is not Wendy’s in town, McDonalds charges more.
Most people call it “lack of competition” & economists call it the “substitution effect.”
When buying a home is no-longer an alternative, (no competition) rents go up.
The Y-o-Y change in residential rents is among the highest America has ever seen.
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Wow! It must really such to be part of the generation who cannot afford to buy and now discover your rent is being increased TOO!
This a first since I’ve been alive! My family is saying this is worse than Carter.
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Under Carter, it got so bad, people would “hurry up and buy stuff,” (cars, tires, refrigerators, tools) because “You won’t be able to afford it next year.”
low inflation.
high employment
growing economy.
yeah the misery index is quite terrible.
Allan
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the unemployment rate was 7.5% in 1980.
Allan
I 
this post.
You must be counting on voters not noticing the impact of inflation and energy.
Good Luck with that!!
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Yes and in the opening months of 1980, inflation was exceeding 1.5% per month (18.5% annualized.)
Unions thought they were being perfectly reasonable by demanding annual wage increases of “only” 10-15%.
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How many of those foreign born are naturalized US citizens as opposed to what you are insinuating?
And yes for economies to expand, you have to have immigration.
There are blind stubborn people and then there are blind and stubborn people.
After looking at these chart up here you still don’t see it?
What will it take?
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The BLS did not ask and does not tell us the data you are asking for.
We know (BLS data above) that 1.2 million foreign born workers became newly employed in the US in the past 12 months (taking 40% of all jobs).
The number of H1-B visas (doctors engineers etc, since our schools now suck at teaching math and science) per year is capped at 65,000. (so that’s not it.)
The left-leaning bipartisanpolicy.org estimates that 25-50% of 3-5 million criminal immigrants who illegally enter the US eventually become naturalized citizen. But that figure seems to be based on old data that may or may not have changed. Either way it is unlikely they waited and waited and waited (and average of 7 years) until they became legally naturalized and THEN began working
so
“How many of those foreign born are naturalized US citizens”
The likely answer is “a very small portion.”
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Compare this to 2.9 million jobs created in the US in the past 12 months.
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2.9 million btw is not a bad number.
Joe Biden and his supporters tout it as an accomplishment.
(For comparison there are roughly 3.66 million live births in the US per year.)
how did the United States of 1790 that contained less than 4,000,000 people now became a superpower of almost 335,000,000 in 2023?
big hint: immigration.
Allan
there were almost 1,000,000 new US citizens naturalized in 2022.
Allan
