Originally Posted by Rocking_it

Originally Posted by Jshopes

well no kidding gdp is up, the price of everything is up. if 2 widgets cost 25$ at the beginning of the period, then 2 widgets cost 50$ at the end of a time period, gdp went up 100%. that doesnt mean theres more demand, it means it cost more for whatever reason. if inflation is at 35% and gdp goes up 5%, it actually shrank.

Originally Posted by Rounders

During Obama we said the the unemployment was trumped up. Then year later, went down half percent, under trump, we said historic lows. On the low end you can't get anyone to work anymore. I am curious where all those people went, clerks, waitress, bartenders. Higher end you got people change jobs too.

People like you will say wall Street is just rich people gambling, but for us regular people it is our 401k invested in mutual funds. Last 15 years have had some bad years, but the market has gone up. Sure gave me more hope than I had 15 years ago.

It is very short sighted to see wall street is a reflection of the economy. I am not saying poor people don't get screwed with inflation. But most of us, my whine about $20 more at grocery store, but it hasn't changed our lives a lot. If you are honest and do that math.

Originally Posted by FLSTFI Dave

Wages are rebounding some. They have not caught up to inflation yet. Our purchasing power is down. The lower your income the more it's felt. The bill at the grocery store has gone up faster than wages. Average people can feel the inflation of the last 3 years. It's reflected in every thing you buy. Wages have not increased near as much. Even worse for those of us on SSDI, and disability insurance. My purchasing power is down by more than 10% over three years, as my disability insurance payment has not changed and will not change. SSDI did go up, but not even half of inflation, and its a very small amount of money.

I'm not sure what level of income you have to have to believe that we didn't, and don't have inflation, and our financial condition has not changed for the worse over the past 3 years? At 200K do you not feel it? or is it more?

Good article on purchasing power. Purchasing power.

Originally Posted by downzero

Real GDP takes price level into account. Nobody uses nominal numbers for GDP.



Unemployment measures the proportion of the labor force that is without work. Our working age population is aging and many have left the labor force.

Unemployment does not just mean the person is alive and breathing and not working. That is not what unemployment measures.

I don't know where you think I said that "Wall Street" is a reflection of the economy. The GDP measures the productive output of the economy. The Real GDP per capita is the highest it has ever been. That is an demonstrable fact based on dividing the GDP by the number of people. The GDP has nothing to do with "Wall Street."

Originally Posted by Jshopes

if theyre if theyre using the same inflation numbers the whitehouse does the calculation is wrong.

Originally Posted by downzero

Yeah, I'm sure the federal reserve doesn't know what the value of money is (and I'm sure your opinion is better than theirs).

Originally Posted by downzero

You are confusing "supply" with "quantity supplied." Which was basically the difference between a B student and an A student when I was teaching economics to undergraduates..

Originally Posted by downzero

Wrong. Maybe rather than reading somebody else's opinion, you should look at the facts.

Originally Posted by downzero

Yeah, I'm sure the federal reserve doesn't know what the value of money is (and I'm sure your opinion is better than theirs).

Originally Posted by Calif Fat Bob

I don’t remember signing up for this class . . . But at least I got a “B”