It’s the economy, stupid

derek_tiger

Freshman
Dec 20, 2009
371
711
93
60 Minutes: “Mr. President, as you know, last Tuesday, the annual inflation rate came in at 8.3 percent, the stock market nosedived, people are shocked by their grocery bills. What can you do better and faster?”

Biden: “Well, first of all, let’s put this in perspective. Inflation rate month to month is just up an inch, hardly at all.” o_O

60 Minutes: “You’re not arguing that 8.3 is good news?”

Biden: “No, I’m not saying it is good news, but it was 8.2 before. I mean, it’s not. … I can make it sound like all of a sudden, ‘My God, it went to 8.2 percent.’ It’s been—” 🤪

60 Minutes: “It’s the highest inflation rate, Mr. President, in 40 years.” 😡

Biden: “I got that. But guess what we are, we’re in a position where for the last several months it hasn’t spiked, it has just barely. … It’s been basically even. And in the meantime, we created all these jobs and prices have gone up, but they’ve come down for energy.” WTF?? 🤥:rolleyes:

The innumeracy of the president here is very convenient. His comments last month that inflation was zero seemed to have become part of his thinking. So, when the next month came along and inflation was up 0.1 percent, he regarded that as just “up an inch.”

He’s oblivious to why inflation has always and everywhere been calculated over 12 months. Doing so provides a much clearer picture than month-to-month trends, in which one month’s dramatic gains can be obscured by another month’s moderate correction.

An analogy would be a 400-pound man on a diet who brags that this morning, he weighed the same as yesterday. He thereby concludes that he doesn’t really have a weight problem. If someone said that to us, we might be polite but, in our heads, we would be thinking that this person is utterly deluded. 🤣🤔
 

billywayneluck

All District
Dec 28, 2009
6,912
7,380
113
60 Minutes: “Mr. President, as you know, last Tuesday, the annual inflation rate came in at 8.3 percent, the stock market nosedived, people are shocked by their grocery bills. What can you do better and faster?”

Biden: “Well, first of all, let’s put this in perspective. Inflation rate month to month is just up an inch, hardly at all.” o_O

60 Minutes: “You’re not arguing that 8.3 is good news?”

Biden: “No, I’m not saying it is good news, but it was 8.2 before. I mean, it’s not. … I can make it sound like all of a sudden, ‘My God, it went to 8.2 percent.’ It’s been—” 🤪

60 Minutes: “It’s the highest inflation rate, Mr. President, in 40 years.” 😡

Biden: “I got that. But guess what we are, we’re in a position where for the last several months it hasn’t spiked, it has just barely. … It’s been basically even. And in the meantime, we created all these jobs and prices have gone up, but they’ve come down for energy.” WTF?? 🤥:rolleyes:

The innumeracy of the president here is very convenient. His comments last month that inflation was zero seemed to have become part of his thinking. So, when the next month came along and inflation was up 0.1 percent, he regarded that as just “up an inch.”

He’s oblivious to why inflation has always and everywhere been calculated over 12 months. Doing so provides a much clearer picture than month-to-month trends, in which one month’s dramatic gains can be obscured by another month’s moderate correction.

An analogy would be a 400-pound man on a diet who brags that this morning, he weighed the same as yesterday. He thereby concludes that he doesn’t really have a weight problem. If someone said that to us, we might be polite but, in our heads, we would be thinking that this person is utterly deluded. 🤣🤔
Imagine voting for Biden.

Worse yet - imagine continuing to defend Biden.