The exact thing that helped Trump win could become a big problem for his presidency

[IronLionZion]

https://www.cnn.com/2024/11/07/business/inflation-economy-trump-tariffs/index.html



Some of the very same campaign promises that appealed to voters – mass deportations and sky-high tariffs – would be inflationary if enacted, perhaps very inflationary.

Not only that, but the bond market is already getting nervous about Trump’s plans to add trillions to the national debt. Bond yields have climbed sharply, a situation that will make it more expensive to get a mortgage or home equity loan and finance the purchase of a car.

“The lesson of this election shouldn’t go unnoticed by Republicans – inflation doesn’t sit well with voters, and they won’t forget,” Ryan Sweet, chief US economist at Oxford Economics, told CNN.

Voters made clear Tuesday their frustrations with the state of the economy.

Two-thirds (67%) of voters described the US economy as not good or poor, according to CNN exit polls.

Despite historically low unemployment, just 32% rated the economy as excellent or good.

And this proved to be pivotal in the outcome.

Among those who described the economy as not good or poor, 69% voted for Trump. Likewise, 40% of Latino voters indicated the economy was the No. 1 issue. Trump decisively carried Latino voters who picked the economy as the No. 1 issue.

The findings illustrate just how angry voters are about the cost of living.

“Though economists focus on the rate of price changes, consumers focus on the level of prices,” Sweet said. “The American consumer generally has a short memory, except for when it comes to prices. Many can tell you the price of gasoline, milk and bread down to the penny today versus four years ago.”

Who are they going to blame when inflation gets worse under Trump? Hate isn't going to help them buy groceries and gas.

[Walleye]

1. I don't think the cult can distinguish fantasy from reality anymore

If prices go up, they will say something like “everything‘s OK for me” Boys never admit, they made a mistake, and girls too

[yourout]

7. I would like to tell them....Congrats you owned...

the Libs, "Yourselves"

[jimfields33]

42. Elon is going to slay two trillion from the budget. There will be no added debt.

How he does it will be frightening.

[Texin]

48. Yeah, these morons are about to get Xed. All they need to look at was what Musk did in his "restructure" efforts.

[VMA131Marine]

53. Not without getting bills passed through Congress he won't

All non-defense discretionary spending adds up to $700 million to $800 million. To get to $2 billion in cuts, deep cuts in Social Security benefits are almost a necessity.

[orangecrush]

2. He has a trifecta

Owns the courts and over half the populations votes.

He has no fucking problems and never will again.

We, in the other hand...

[Jim__]

3. "Who are they going to blame when inflation gets worse under Trump?" Biden, of course.

Will people believe them?

[rurallib]

24. Yep it started under Biden!

[dawg]

40. I don't give a shit who they blame ...

as long as they suffer.

[DarthDem]

4. Hey, if Republicans Had Cooperated More With Biden's Legislative Initiatives . . .

. . . I wonder if voters might think the economy was better? No matter; it appears we'll have to have another Republican in office to screw up the economy and teach this lesson. I get it: voters don't want to be lectured. Heard loud and clear.

[IronLionZion]

12. I keep hearing "teach a lesson" but I don't think anyone is learning the lesson

[Strelnikov_]

5. FAFO

Really going to seem bad since the economy is humming along.

[PCIntern]

6. "They won't forget"? Horseshit...

“I may have had to pay too much in interest, but the Democratic candidate…I wouldn’t want to have a beer with him/her.”

This is how they think…

[valleyrogue]

8. The immigration issue is SO stupid.

These MAGAs are so full of misdirected hate it would be hilarious if it weren't dangerous. Nobody would arrive here undocumented if employers weren't so eager to hire them at cut-rate pay.

The hate needs to be directed at businesses, not at individuals.

[jimfields33]

43. I think immigration is great. So do most democratic supporters.

I was shocked though when democratic mayors were not happy to get the immigrants. I think they should have welcomed them. They bring economic activity to their he cities. Arizona, Texas should not be the only states to get the economic benefits.

[ProudMNDemocrat]

9. When Jesus was in the Garden when arrested, Scripture says(a metaphor)

Last edited Thu Nov 7, 2024, 11:26 AM - Edit history (1)

"He who liveth by the sword, will die by the sword."

In this scenario, those who voted for tRump will begin to rue the vote they gave to him. THEY, along with the rest of us, will feel the brunt of the high costs, increased inflation, higher unemployment as more of our income is squeezed away. Those without retirement savings, pensions, etc., will go down first.

There are plenty of Homeless as it is now. Just wait a year from now, that will more than double when jobs dry up, housing, child care, health care costs rise way above the inflation rate. Right now at 2.2%,, imagine 10%+ inflation rate on top of 20%+ higher sales tax (tRump Tariffs) added on.

It is the Economy! Kamala stressed that with additional ways to increase people's wealth accumulation, but the voters REJECTED her! They will rue the day and we will all PAY!

[democratsruletheday]

13. These are the EXACT points I just made to a friend of mine....

this morning. I want like hell for all of them to suffer for voting for that fucker. Then reality sets in and I realize most of us would be swept up as collateral damage.

[Johnny2X2X]

10. Nah

Trump will just say, "we have the greatest economy ever!!!" And the media will say, "Well, he said it so it must be true." And people will start to struggle, but think the economy is great.

There's been a lot of polling about the economy and it depends on how you ask people the questions. First, we have an amazing economy right now, one that is seeing working people make gains we haven't seen in several generations, those are the facts. But if you ask people;

Is the economy good? The answer, "NO!"
Are you better of than you were 4 years ago? The answer, "no!"
But if you ask, would you desrcibe your personal financial situation as better than 4 years ago? They answer, "Oh yes, I have more money, I am doing better than ever."

And the data backs that up, real wages are up. Savings are up. 401Ks are up. Equity is up. More people have health care. More people are working than ever before.

[Irish_Dem]

11. The GOP has a strong propaganda machine and control of the voting process.

They will do just fine.
They will define reality and who "wins" elections.

[Dem4life1234]

14. They are psychotic dumbasses with poor brain wiring

[Yavin4]

15. Who reports inflation, GDP data?

The Bureau of Labor Stats and the Bureau of Economic analysis. All that has to happen is for Musk et al to commandeer these agencies and report different numbers. They can report whatever numbers they want to. Financial data will then become untrustworthy and the whole thing unravels.

[IronLionZion]

17. People would see the prices in the store though

that's harder to hide

[Yavin4]

18. They will just dismiss you as a Lib.

Personal anecdotes only matter if it's Republicans saying it.

[City Lights]

16. Lately it seems that voters care about what Fox and social media tell them to care about.

They don't seem to have many original thoughts of their own. We'll see if that changes down the road. Too many people live in an alternate reality where they are riled up over things that are not even happening and ignore the actual perils we face.

[notroot]

19. To paraphrase Bill Clinton: "It's the sexism and racism, stupid."

Economy my ass.

[IronLionZion]

20. The irony is that sexism and racism hurts our economy

[notroot]

58. Americans are obviously mostly too stupid to understand that fact.

[rainin]

21. Project 2025 - arrest Journalists. High prices aren't his problem, he doesn't plan to have more elections

[world wide wally]

22. They will say that it is because of Biden's policies.

[ancianita]

23. Trump will blame Elon. It's Elon's idea to let the economy crash, then rebuild it as a bitcoin currency economy.

[ProfessorGAC]

25. I Find Some Of The Analysis Questionable

If consumers know the prices to a penny, they'd know gas prices are down around 70 cents since February.
They'd know the price of eggs is down 40% from the high and the price of milk and bread has come down over the last 12 months.
I think the piece overstates the actual awareness of consumers and understates the failure to see the economic improvements over the past 2 years.

[Orrex]

28. Correct

Most of them track prices in general, abstract terms, usually along the lines of “this is more than I figured I’d have to pay when I thought about it three minutes ago.”

Expecting accurate, longitudinal analysis is a guarantee of failure.

[Ray Bruns]

36. Because it wasn't about inflation or the economy. It was about the misogyny

[whopis01]

39. Trump is about to take credit for that

In January he will point to the lower prices and say “See how much lower they are than they were 12 months ago during the Biden-Harris regime? I did that.”

[krkaufman]

54. Yup!

> ignores reality

Among the reality ignored is that the prior economy was just an extension of the Obama/Biden recovery, which began slowing due to Trump’s tariffs (which further ballooned the debt when he had to buy off farmers directly harmed). And the next reality to be ignored is that the economy come February 2025 is the exact same economy as on November 5, 2024, but it will suddenly be touted as miraculously recovered.

https://www.reddit.com/r/Residency/comments/1gkx3gf/comment/lvpungu/

[Orrex]

26. He will blame liberals and minorities and childless women.

And his kkkultists will believe him.

[JustAnotherGen]

27. They will blame us

Anyone but the leader is responsible for bad things happening.

[wolfie001]

35. And the NYTs will wonder why it's so

Those navel gazers will cover for the orange fatso for sure.

[Klarkashton]

29. When the trump recession hits it will be cold comfort

To watch that bastard try and lie his way out of responsibility. The "working class" Republicans can go to hell.

[wolfie001]

37. He'll be speaking to the idiots who elected him

And just like trump University, they'll believe every word.

[jimfields33]

46. Trump economy won't start until October 2025 when his budget begins.

Hopefully, by then he will be so frustrated by the house saying no so much he’ll raise his hands and say you guys do the budget. I can dream.

[Prairie Gates]

30. Fascism always borrows beyond its means and always ends in expansionary wars

designed to recoup the spiraling debt.

It is a geopolitical pyramid scheme at its most fundamental, economic level. It's also why conmen are often the figureheads.

[Beachnutt]

31. It is already happening, read this

https://finance.yahoo.com/news/federal-seen-shallower-rate-cut-145706509.html

[bucolic_frolic]

32. Voters are so ignorant they want full employment, rising wages, and falling prices

It doesn't work that way, except sometimes coming out of recession.

[Pinback]

55. Reminds me of the weather forecast in the movie Pleasantville --

“High 72, Low 72, not a cloud in the sky.”

The kind of bullshit Trump has been selling suckers all his adult life. He’s the perfect frontman for the oligarchs and Russian monsters who want to destroy our inconvenient democracy.

[progressoid]

33. Most of GOP voters don't care about facts. This is just emotional.

They could be on fire but if a Democrat said, "hey, maybe you should use this bucket of water to put yourself out." They wouldn't do it.

But if Sean Hannity told them they were on fire and the only way to put it out was to vote for the arsonist. They would do it. Like they just did.

[Blue Full Moon]

34. Companies were already planning on him.

Getting ready to double and triple the price of everything. As Musk promised hardships for American families but he's exempt. He will be on the receiving end of the taxes.

[Attilatheblond]

50. He's not only exempt from the coming hardships, he bought a group of mansions for his kids + ex-wives

So much cheaper to get security if everybody is in one place. His real estate buy is a pretty big admission that they plan to tank everything to the point of violence being likely.

[Quixote1818]

38. He will fuck everything up and still claim to have the best economy ever nt

[Initech]

41. It's going to totally fuck up this country, probably for generations.

All because people CHOSE for this fucking asshole to be in power out of pure spite and malice. May they all rot in hell for this.

[lark]

44. Asshole will just tell them that this is caused by Democrats and he has no choice.

Fuckheads will believe him.

[Attilatheblond]

45. Why is the national debt only a problem when there is a DEM in the White House

And with a GOP senate, the party of dolts will really mess things up. Then, the voters will get amnesia again next election cycle and forget who shits the sheets and which party always cleans it up.

[airplaneman]

56. It's simple

If the R stop the D from spending they have in effect prevented them from doing anything. It’s a guise they don’t care about spending just the D spending
-airplane

[Attilatheblond]

57. But it was the Rs who gave the rich guys those deficit increasing tax cuts

Now, they want Social Security and Medicare dependent retirees and working people who will need to retire too to pay the bill. EVERY damned time.

[BradBo]

47. Trump dosent give a shit about any of that stuff.

And the real MAGAs would starve their children to own the libs, now they can.

[krkaufman]

49. So this Ryan Sweet guy has no credibility, then

”… and they won’t forget,” Ryan Sweet, chief US economist at Oxford Economics, told CNN.

Yeah, if nothing else, it’s been proven that the American voter can be relied upon to hold accountable those responsible for their misery.

[IbogaProject]

51. Inflation is climate crisis related now

We have reached peak oil. Production now takes nearly 20% of total energy up from 10% in 2016. And it will continue to worsen. Yes collusion and tariffs will make it worse but the good times of the last 80 years are ending rapidly.

[hatrack]

59. And we're injecting 12 billion barrels/yr of toxic fracking waste into the ground in the US

If something can't go on forever, it won't.

[Freethinker65]

52. Trump doesn't give AF about inflation. Musk said there will be economic suffering for many (most)

Of course, most non-critical thinking not particularly wealthy voters didn't give much thought to what that meant or figured it couldn't mean themselves.

Like pro-Palestinians voting for Trump (the known anti-Muslim pro-Netanyahu candidate) because of the tragedy of Gaza. Just wait until Kushner gets his real estate developments started on the coast of Gaza after Palestinians are pushed aside for the "greater good".