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this post was submitted on 01 Dec 2024
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We all voted for Trump in shocking numbers. Everyone to the online left, including myself, was apparently wrong about everything this election.
Well except one thing: it came down to the economy. I keep forgetting nothing else matters.
Except that the economy is objectively good, and as soon as a Republican is in office all of these people will mysteriously start saying how good the economy is, as if by magic. The entire narrative is bullshit and is an impossible trap Republicans lay for Democrats every election.
Economy is good under Clinton? Elect Bush!
Economy is good under Obama? Elect Trump! Economy is good under Biden? Elect Trump!
Did you know that in 2008, exit polls showed that 60% of Republicans said that the economy was good? This is the issue. Republicans just strategically lie and unless the economy is literally crashing around us, "the middle" absorbs that narrative by osmosis.
What are Democrats supposed to do? Bidenomics was objectively good. 2M new full time jobs vs 2019. 10% inflation adjusted wage growth. Strong stock market, productive legislation, fought for the student loan promise... And people apparently want them to come out and just disavow all this because Republicans and the media lie about it?
2008? The year of the housing crash? Going to go with no, mate. It was not great. A lot of people hurting, myself included.
Biden did have a good economy. By all accounts he handled the inflation masterfully. Better than most other nations. Doesn't matter because prices skyrocketed and people felt it was handled poorly. All that matters is what they make folks believe.
Exactly this.
Dear readers, for better understanding please read the word "economy" as the phrase "mega yacht money"
I don't think so. I mean I agree with your point that economy normally means rich people, but I think mega yacht money did well under Biden. It's the common people who felt the economy was garbage and voted for a changing of the guard.
Thats one of the things I think was most lost on the Biden/Harris team, even my friends who “did well” on paper under Biden, it was usually unrealized gains while the costs wouldn’t tamper down. What good is a 401k doubling if you can’t sell it, or worse had to sell off with penalties, if all your costs are up and due dates are today. Another, is how home values may have went up, but for most people that just meant things like taxes and insurance went up which is just like a loss if they didn’t own multiple homes.
The problem with this though is that it's often a perception-based thing. The economy can be as good for working people or even better under Democrats and you'll continually get this drumbeat of "yes but per-capita GDP isn't a good measure" and "401ks don't pay the rent" but as soon as a Republican gets into office pundits forget all of this nuance about the "real economy" vs Wall Street and start saying "sure he's doing x y and z bad things, but how's your 401k, bro?".
In reality, the media (including pundits like Joe Rogan and other brocasters) absolutely affects people's perception of the economy, and continues to perpetuate the "GOP = good for economy" and "Democrats = bad for business" narratives every election cycle. This perception is unmovable even in the face of actual data saying the opposite because the American electorate is full of stupid and loves it a simple, easy to digest narrative.
I'd encourage people to continue beating the drum about how the stock market isn't the economy through Trump's term.
I hate when people downplay the economy or employment as trivial or at least not very important. It is important, and for many it is rational to consider it the most important. At an individual level in America, employment means food, shelter, healthcare. It even means companionship... People who can't afford to date, have a harder time finding love.
At a high level, even if we implemented universal healthcare and fixed our other problems, the health of the economy would STILL dictate our access to food, shelter, and healthcare. A government with no funds cannot sustain programs.