The economy
- Thread starter Rastafarian
- Start date
According to the admin, you can still eat well.
I dont know where the heck you haters are shopping but im getting good prices on beef at Krogers. They have sales weekly and the base price for a 3 lb hamburger log is under 20. Kroger also had 3lb non rolled packs of hamburger on sale for $12 last weekend. The prices have flattened over the last year. Quit whining guys.
Im eating red meat 5 or more days a week.
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Unemployment rising, gas rising, inflation rising, stocks taking a hit, when do we start winning?
If you aren't a billionaire.... You won't ever be winning under this president and administration.
And if you are solidly middle class or upper middle class.... Grab your ankles.
Oh come on. Most of our social group seems to be winning and none of them are anywhere close to billionaires. Same for us. Absurd comment.
Brother you are a millionaire and so is your social group. No shame, but not exactly middle class.
Your comment:
If you aren't a billionaire.... You won't ever be winning under this president and administration.
What does that have to do with millionaires? You do understand that you can be a millionaire and have 1/1000th the wealth of a billionaire? A basic millionaire is far closer to a janitor than a billionaire.
There are also over 24 million millionaires in the US. There are 134 million households. So this isn’t some ultra-rare threshold of wealth. It’s a significant portion of the population.
Yes. A more complete picture is your anecdotal observation that is totally trustworthy and not at all biased.
“I’m a millionaire and I have a hard time just like janitors.”
This doesn’t land like it does in your social group.
I'm certainly not trying to wealth shame you, but that level of wealth in South Carolina is in the top 5% of the state.
Well what I posted is actual food prices that I am purchasing at krogers.
Again, that's not what I said. You continually put words in my mouth. I assume that's because you struggle to argue with what I actually have to say.
Okay. It's still a small decimal of a billionaire. And your post specifically said that ONLY BILLIONAIRES would be able win under this administration. My point is you are wrong, and that's 100% factual.
Growls, no one is claiming you can't find beef at lower prices depending on where you shop. This exchange was started after Ned watched the video clip I attached showing a guy shocked at the price of three ribeyes at his local grocery store. AI then confirmed that he could be correct. Ned claimed he found a 3 steak package similar to the one in the video for under $20.00. I'll take his word for it but it sounds a little suspect. This ain't about your hamburger log at your local Kroger though ground beef prices are soaring also. The price increase isn't all Donnie's fault but the tariff wars are making it worse and that's a slap in the face to his voters because he promised them he would bring down prices on day one. #NotWinning
Why Is Beef So Expensive? - NerdWallet
Prices for products like ground beef and steak are high right now because drought, high grain prices and rising interest rates made cattle farming a costly endeavor in recent years. Now, tariffs add new pressure on prices.
I'm not a billionaire, and I'm doing fine...there are ups and downs in any economy at any given time. If you look at it at a point in time you can make a case that it's good or bad. But the economy is a continuum it goes on and on, up and down
dpic, as I posted, I doubt anyone would argue that prices are higher today then they were on January 20, 2025. And, anybody can find prices on specific items that are either higher or lower than a base price. Some stores use loss leaders, 2 for 1 specials and any other means they can to get you into the store. The true test, IMO, is not in anecdotal stories that "my beef steaks are cheaper than yours", but what is your total bill. And unless you're not buying as much, for whatever reason, the total bills are higher, and I'll submit that the Iran conflict and the resultant supply chain disruptions will force prices higher.Growls, no one is claiming you can't find beef at lower prices depending on where you shop. This exchange was started after Ned watched the video clip I attached showing a guy shocked at the price of three ribeyes at his local grocery store. AI then confirmed that he could be correct. Ned claimed he found a 3 steak package similar to the one in the video for under $20.00. I'll take his word for it but it sounds a little suspect. This ain't about your hamburger log at your local Kroger though ground beef prices are soaring also. The price increase isn't all Donnie's fault but the tariff wars are making it worse and that's a slap in the face to his voters because he promised them he would bring down prices on day one. #NotWinning
Why Is Beef So Expensive? - NerdWallet
Prices for products like ground beef and steak are high right now because drought, high grain prices and rising interest rates made cattle farming a costly endeavor in recent years. Now, tariffs add new pressure on prices.www.nerdwallet.com
Fair point. I submit that I should t have used billionaire. I didn't use millionaires since in some areas if the country that's not a huge income. On South Carolina a millionaire is in the top 5% of wealth in this state and is largely insulated from things such as gas price increases and food inflation. I think that you've mentioned you don't pay attention to gas prices in previous posts.
My point remains, and is probably unfair to blame on side of the aisle, but we are absolutely seeing a massive wealth disparity in the US the likes of which we haven't seen in history.
Rather than "The Art of the Deal", a more appropriate name would have been "The Art of Bankruptcy". His history of scams and bankruptcies is lengthy.
He reminds me of someone who trades financial markets, makes a bad trade without a stop loss, continues to double down with margin until he gets a margin call and doing this with other peoples money, primarily ones who can least afford his folly.
Trump has increased both his personal and family wealth exponentially through crypto schemes and pay for favors using the leverage of his position as the leader of the most economically and militarily powerful country on earth.
trump bankruptcies and business failures
Donald Trump’s business career included six Chapter 11 corporate bankruptcies between 1991 and 2009, primarily involving Atlantic City casinos and NYC hotels, which allowed him to restructure debt while keeping personal control, notes
this ABI article. Key failures included Trump Airlines, Trump Mortgage, and Trump University, with critics highlighting that investors often bore the costs of these losses.
Key Bankruptcy Filings (Chapter 11)
He reminds me of someone who trades financial markets, makes a bad trade without a stop loss, continues to double down with margin until he gets a margin call and doing this with other peoples money, primarily ones who can least afford his folly.
Trump has increased both his personal and family wealth exponentially through crypto schemes and pay for favors using the leverage of his position as the leader of the most economically and militarily powerful country on earth.
trump bankruptcies and business failures
Donald Trump’s business career included six Chapter 11 corporate bankruptcies between 1991 and 2009, primarily involving Atlantic City casinos and NYC hotels, which allowed him to restructure debt while keeping personal control, notes
this ABI article. Key failures included Trump Airlines, Trump Mortgage, and Trump University, with critics highlighting that investors often bore the costs of these losses.
Key Bankruptcy Filings (Chapter 11)
- Trump Taj Mahal (1991): Casinos were heavily in debt, leading to this first filing.
- Trump Plaza Hotel (1992): Followed shortly after the Taj Mahal.
- Plaza Hotel
(1992):
The iconic New York hotel faced massive debt. - Trump Castle Hotel and Casino (1992): Another Atlantic City property filed for protection.
- Trump Hotels and Casino Resorts (2004): A consolidated corporate bankruptcy.
- Trump Entertainment Resorts (2009): The final casino-related bankruptcy.
- Trump University: A for-profit, non-accredited venture that settled fraud lawsuits for $25 million.
- Trump Mortgage (2006): Lasted only 18 months, according to Time Magazine.
- Trump Airlines (1988–1992): Purchased as Eastern Air Shuttle, failed due to high debt.
- Trump Vodka (2006): Discontinued due to lack of market interest.
- Trump Steaks (2007): Failed after poor sales, notes this YouTube video.
- GoTrump.com (2006): A travel website that shut down within a year, according to Time Magazine.
- Use of Debt: Many businesses were over-leveraged with high-interest loans, say The New Yorker.
- Shifted Risk: Trump was often able to shift the burden of losses to shareholders and investors, while continuing to get paid management fees and salaries, as described in
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Why would anyone believe Powell is a problem and lowering interest rates will fix this mess.
From the bottom of my preceeding post.
Key Aspects of Business Strategy
From the bottom of my preceeding post.
Key Aspects of Business Strategy
- Use of Debt: Many businesses were over-leveraged with high-interest loans, say The New Yorker.
- Shifted Risk: Trump was often able to shift the burden of losses to shareholders and investors, while continuing to get paid management fees and salaries, as described in
don't take this as a defense of trump, I would not invest my money in one of his enterprises...but here's how I look at his business record. First of all trump has a lot of money and a lot of business ventures, and he can afford to takes risks. Next, he pushes the envelope in his dealings. He's willing to "throw a lot of things against the wall" to see what sticks, uses a lot of debt (other people's money) - to include to suppliers/investors - and then uses available laws to exit and write off his losses...and then move to another venture. I doubt he loses sleep at night when suppliers or investors are left holding the bag.
In no small way, this is how he's running the government. he signs a lot of executive orders or dictates other actions to see what will happen. He is sued a lot, and has no problem with that (he's got a whole department of lawyers paid by the taxpayers). When he wins that's great, and when he loses he just moves on to another EO or dictate. He initiates and manages chaos seemingly as part of his management style.
There is no question in my mind that he and his family are benefiting financially from his office. While I don't think that's what a government official should do, in fact, they all seem to do it. But Trump has mastered the technique to a degree seldom, if ever, seen before.
Got your "trump watch" yet, It's the best watch ever made, never been one like it before
You can make this point without the hyperbole.
That said, is it true? This graph would indicate otherwise. Top 1% and 9% trending down since 2018 or so. Bottom 50% trending up (albeit still a small share). 50%-90% group up since 2018.
Well, you kind of make the opposition's point here. You bought a 3LB large ground beef roll ON SALE and paid almost $7 dollars a pound for freaking ground beef. That's pretty damn expensive.
Now that being said, I have the same position I had when you were bitching about how food and gas were so expensive under Biden. My grocery bill is up over the last year. I do most of my grocery shopping at Fred Meyer (that's Kroger to you Southern Folks) where I order online and go pick it up. So I've got pretty good records going back to COVID days. I'd say my average grocery bill is up about $20 from the same time last year (about 15% or so). This has had ZERO effect on my food shopping.
Same with gas. The price is up about $1 per gallon over the last month. That's an additional $17 a tank for me. Again, Zero effect on my everyday life.
I will say that for the 1st time I can remember, I actually made a different purchasing decision based on price. I had some friends over last week to crank up the grill for the 1st time this year. WORST ski season ever. But it's been nice weather for sure. So I thought I'd grill some Filet Mignon steaks for us. Costco had Prime grade filets at $34 a pound. I made an executive decision to pay $15 a pound for choice grade Ribeyes.
I have no issues arguing with what you have to say.
I think you have referenced being close to making a million dollars a year. Could be off there so correct me if I'm wrong. Having that amount of wealth insulates someone from all the pains that your average American feels. Especially living in SC. Which was the point @yoshi121374 was trying to make.
His billionaire comment was hyperbole but also the point remains.
You said this in an attempt to quote me: “I’m a millionaire and I have a hard time just like janitors.”
- I didn't even refer to myself in my post.
- Basic millionaires face challenges more similar to janitors than billionaires. Supporting a family financially, balancing busy work and family schedules, attempting to save, having to still work hard, financial stress, etc. Billionaires have staff to manage things and could stop working yesterday if they wanted to. They fly on private jets. Just completely different than working families, which is what most "millionaires" are. That, or retired people who were just like those working families.
- You're arguing with points I didn't make.
That wasn't your question, nor was it the point in yoshi's post. Not saying they haven't improved, but it's another example of shifting the point to argue something different the original issue.
Many people have told me in the past that the reason they voted for Trump was because they thought he was a good businessman. This is arguably far from the truth unless one considers someone like Bernie Madoff to be a good businessman.don't take this as a defense of trump, I would not invest my money in one of his enterprises...but here's how I look at his business record. First of all trump has a lot of money and a lot of business ventures, and he can afford to takes risks. Next, he pushes the envelope in his dealings. He's willing to "throw a lot of things against the wall" to see what sticks, uses a lot of debt (other people's money) - to include to suppliers/investors - and then uses available laws to exit and write off his losses...and then move to another venture. I doubt he loses sleep at night when suppliers or investors are left holding the bag.
In no small way, this is how he's running the government. he signs a lot of executive orders or dictates other actions to see what will happen. He is sued a lot, and has no problem with that (he's got a whole department of lawyers paid by the taxpayers). When he wins that's great, and when he loses he just moves on to another EO or dictate. He initiates and manages chaos seemingly as part of his management style.
There is no question in my mind that he and his family are benefiting financially from his office. While I don't think that's what a government official should do, in fact, they all seem to do it. But Trump has mastered the technique to a degree seldom, if ever, seen before.
Got your "trump watch" yet, It's the best watch ever made, never been one like it before
You are really getting hung up on the difference between millionaire and billionaire.
Yeah a billionaire is another stratosphere. But if you are a making a million dollars a year and go up to a janitor to say “hey man we both go through the same struggles in this economy” he’s gonna look at you like you have 3 heads.
What is so hard to understand about that?
Please go re-read my reply to yoshi. And please look up the definition of a millionaire. Hint: It is not someone who makes a million dollars per year.
Come back and debate the specific points I made in that post and we can continue.
This conversation has been about if this administration has been good for anyone who isnt a billionaire. You said you and your friends are winning, so I wanted to clarify that that has continued under this admin.
Lots of people are winning when you consider decades of work - health, wealth, family, etc. But have those gotten better under Trump? When you discuss your situation, I’m assuming you see that the debt is exploding. People are fleeing the US as a safe haven, making our debt even more expensive. Inflation has continued due to tariffs. And now is spiking due to an illegal war.
And you are smart enough to know that when the bill needs to get paid, they aren’t going to make cuts to the billionaires who bought this election. It’s going to be increased taxes for folks like you because neither maga won’t kill its golden goose. So keep blaming the dems, but republicans aren’t going to protect you either.
I am talking about high wage earners. Yoshi was talking about high wage earners.
Thats the point.
I’ll jump in and back you here - millionaires are often defined by equity in a home as well as a 401k. Those two things don’t help much until you retire. People need a place to live, and they need money for retirement. Many of those same folks live paycheck to paycheck, just like a janitor. They feel the same pain from inflation.
Billionaires benefit from inflation. When you own assets, those assets typically increase in value from inflation. In many ways it’s like forcing the people who directly and indirectly work for them to take a pay cut.