The United States' economy looks strong compared to recent history, but comparing it to countries abroad, the Biden-era economy looks even more amazing.
I understand the difference between nominal wages and inflation-adjusted just fine. That you keep using the nominal wage increase of 35% is dishonest, without providing any context, which you keep not doing, or even directly claiming it was Biden’s doing, which it was not:
wages have gone up hugely…, which was Biden’s doing
Wage growth at the bottom happened because low-wage workers realized during the pandemic that they could survive without their bottom-wage jobs, which gave them the leverage to demand higher wages when bottom-wage jobs opened back up.
You brought 20% cumulative inflation into it, which is perfectly fair to do of course. But then, after that, I brought in 35% cumulative current-dollar wage growth, because for me to say 12% might sort of invite a comparison between the 20% and the 12%.
Okay, so now you are agreeing with 35% cumulative current-dollar wage growth, right? It sounds like. Nailing down individual facts with you is a little bit arduous it seems like. I’m honestly just gonna completely leave aside what you seemed like you were saying about the 12%, and how much of what happened is Biden’s doing versus not, just to keep things simple.
Okay, so. You’re agreeing now (right?) with 35% or 32% or whatever, just saying it was dishonest without context. So. Have I understood that correctly? And if so, what did you mean when you said:
Too bad prices are up 20% on average since 2020, and aren’t coming back down. That the 2023-2024 inflation rate is only 3% doesn’t matter when wages never caught up with the giant price jumps from the pandemic.
To me, low-income wages caught up and blew past the giant price jumps from the pandemic (although, yes, the lowest income segment of American society is still way too big and still needs a ton of help; on that we agree). Median wages have kept pace within a couple of percent. Average wages have kept pace with and exceeded the giant price jumps from the pandemic. So, what did you mean by this? Like what are the numbers and metrics for the part that “never caught up”?
I am sorry to seem like I’m hammering on this one point, but me just starting to talk about how this one statement was inaccurate led to this whole extensive argument and multi message sustained bickering and all sorts of new topics and arguments, but that wasn’t me that did all that. I was just saying, no, that one statement is just factually not accurate, and it seems like we’re just now getting back around to where we can factually talk about it.
I understand the difference between nominal wages and inflation-adjusted just fine. That you keep using the nominal wage increase of 35% is dishonest, without providing any context, which you keep not doing, or even directly claiming it was Biden’s doing, which it was not:
Wage growth at the bottom happened because low-wage workers realized during the pandemic that they could survive without their bottom-wage jobs, which gave them the leverage to demand higher wages when bottom-wage jobs opened back up.
You brought 20% cumulative inflation into it, which is perfectly fair to do of course. But then, after that, I brought in 35% cumulative current-dollar wage growth, because for me to say 12% might sort of invite a comparison between the 20% and the 12%.
Okay, so now you are agreeing with 35% cumulative current-dollar wage growth, right? It sounds like. Nailing down individual facts with you is a little bit arduous it seems like. I’m honestly just gonna completely leave aside what you seemed like you were saying about the 12%, and how much of what happened is Biden’s doing versus not, just to keep things simple.
Okay, so. You’re agreeing now (right?) with 35% or 32% or whatever, just saying it was dishonest without context. So. Have I understood that correctly? And if so, what did you mean when you said:
To me, low-income wages caught up and blew past the giant price jumps from the pandemic (although, yes, the lowest income segment of American society is still way too big and still needs a ton of help; on that we agree). Median wages have kept pace within a couple of percent. Average wages have kept pace with and exceeded the giant price jumps from the pandemic. So, what did you mean by this? Like what are the numbers and metrics for the part that “never caught up”?
I am sorry to seem like I’m hammering on this one point, but me just starting to talk about how this one statement was inaccurate led to this whole extensive argument and multi message sustained bickering and all sorts of new topics and arguments, but that wasn’t me that did all that. I was just saying, no, that one statement is just factually not accurate, and it seems like we’re just now getting back around to where we can factually talk about it.