Of course it's neoliberal dogma that the government can't do anything about the economy, or about affordability, and it's bunk. Affordability issues at bottom result from insufficient supply and/or monopoly (or quasi-monopoly) pricing power, and the government has the means to either become a supplier of its own, or to subsidize more supply, preferably through grants to non-profit entities.
I have a friend who breeds high end German Shepherds. She has a small litter of three, ready for Christmas, and she is still advertising them - usually she has a waiting list. Along those same lines is an article about the desperation of our local animal shelter with more relinquished dogs and cats than they can care for. Seems like a sign to be of faltering confidence in the economy.
Recently, Ari Melber had a segment about affordability on his show. His guests mentioned auto and mortgage loan defaults as a good indicator of financial pain.
A personal indicator: I have several grocery store reward cards that track my purchases and savings. For years I have shopped every two weeks at my two main stores. I preload coupons on the cards, check the sales, and shop on senior discount days. My shopping lists vary, but tend to have a similar number of items. I have seen a steady increase in my purchase totals.
Hi, Catherine! Love these posts of yours and your Bulwark takes with various others. Also, your MS NOW Weekend program that I watch late at night on Sun. Note that I believe Matt Gaetz is married - his wife may have divorced him but I would expect that to get media coverage so I think not. There are a gazillion dealbreakers for ladies to stay away from him before we get to his choice of egotistical clothing! Trump’s problem regarding affordability is the same that afflicts all of his cabinet, so many DC pols and many others. They have no lived experience of what it’s like to be running out of money at the end of the month. Trump has the added problem that he thinks “groceries” is an old-fashioned word since he has clearly NEVER purchased them. I am 60 and mostly retired living in NYC in an apt I own. I own and garage a car (at great expense) but it allows me to do a quarterly grocery run to the suburbs where I grew up. I fill up a cart with non-perishable staples (olive oil, rice, pasta, chicken stock, canned vegetables) and things I can freeze to use over time (mostly shredded cheese of various types). I am very aware of the price differential between similar goods in my local NYC grocery store and a suburban Stop & Shop - it is huge ($5.99 for 8 ozs in NYC vs $3.99 for 16 oz in S&S for shredded cheese). As a retiree I am cooking for myself much more - saving $ and eating healthier. I watch what I spend but I am not (knock on wood) likely to feel I’m on a financial cliff once a month like so many do. I can imagine it though and I do sometimes get nightmares about it. It’s disgusting that the vast majority of our leaders in DC just do not get it. I haven’t had to deal with the housing market for 20 years - that is way worse than groceries. One can survive on rice and beans but only if you live somewhere that you can cook them in!
Welcome to the Bulwark, Catherine! Affordabilty (or lack thereof, actually) = Sticker Shock. Not a con job and it’s on multiple fronts. FOOD: for ex: a 32 oz jar of mixed nuts went up from ~$11 last year to almost $17 now, that’s sticker shock - and that’s just one grocery item example of many - it’s death by 1,000 cuts. HEALTHCARE: Losing the ACA subsidies means my premium will go from ~$415 now to $2,100/mo next year - not a typo. I could go on vacation to DisneyWorld every month for that! HOUSING: I’ve had 2 colleagues in their 30s at my local library have to move back in w/parents b/c their rents went up too much, and that’s just in the last 5 months. SAD!
Yea, you got the "Ramparts" name in. The new Fed chair fight is going to be interesting, I wonder how much outside interests can push Trump to put someone halfway normal in.
Just an anecdotal note. but for the first time in the 5 years I’ve been collecting Social Security the COL increase was negated by an increase in the Medicare amount deducted for a net negative amount. Take that, affordability!
Affordability isn't a real thing when you're wealthy. Especially when your wealth comes at no cost to you since... y'know... you're using your office to get it.
Also - Rampell. Bulwark. Gotta say... "Ramparts" is advertising genius.
Just asking, wonder how this conversation would go if Trump et al released the job numbers, labor statistics etc. being kept in a vacuum the last few months. If they were good I would think they would be screaming about it.
All the Democrats need to say in every House and Senate race is: “Trump and his family have made over $4 billion in bribes and crypto since he took office. How are you doing ?
All the Democrats need to say in every House and Senate race is: “Trump and his family have made over $4 billion in bribes and crypto dice he took office. How are you doing ?
Wonderful to have you here! I hope your association is a long and richly rewarding one. I’m a regular reader of The Bulwark and really value the quality of what its writers produce on a range of timely topics. You are already a wonderful addition. We American citizens desperately need good economic analysis, and too many of us are underinformed. Onward!
Of course it's neoliberal dogma that the government can't do anything about the economy, or about affordability, and it's bunk. Affordability issues at bottom result from insufficient supply and/or monopoly (or quasi-monopoly) pricing power, and the government has the means to either become a supplier of its own, or to subsidize more supply, preferably through grants to non-profit entities.
Great piece and loved the dealbreakers reference.
I have a friend who breeds high end German Shepherds. She has a small litter of three, ready for Christmas, and she is still advertising them - usually she has a waiting list. Along those same lines is an article about the desperation of our local animal shelter with more relinquished dogs and cats than they can care for. Seems like a sign to be of faltering confidence in the economy.
Recently, Ari Melber had a segment about affordability on his show. His guests mentioned auto and mortgage loan defaults as a good indicator of financial pain.
A personal indicator: I have several grocery store reward cards that track my purchases and savings. For years I have shopped every two weeks at my two main stores. I preload coupons on the cards, check the sales, and shop on senior discount days. My shopping lists vary, but tend to have a similar number of items. I have seen a steady increase in my purchase totals.
Wait, you mean ladies didn't have a thousand and one reasons already to reject Matt "Butthead" Gaetz?
Hi, Catherine! Love these posts of yours and your Bulwark takes with various others. Also, your MS NOW Weekend program that I watch late at night on Sun. Note that I believe Matt Gaetz is married - his wife may have divorced him but I would expect that to get media coverage so I think not. There are a gazillion dealbreakers for ladies to stay away from him before we get to his choice of egotistical clothing! Trump’s problem regarding affordability is the same that afflicts all of his cabinet, so many DC pols and many others. They have no lived experience of what it’s like to be running out of money at the end of the month. Trump has the added problem that he thinks “groceries” is an old-fashioned word since he has clearly NEVER purchased them. I am 60 and mostly retired living in NYC in an apt I own. I own and garage a car (at great expense) but it allows me to do a quarterly grocery run to the suburbs where I grew up. I fill up a cart with non-perishable staples (olive oil, rice, pasta, chicken stock, canned vegetables) and things I can freeze to use over time (mostly shredded cheese of various types). I am very aware of the price differential between similar goods in my local NYC grocery store and a suburban Stop & Shop - it is huge ($5.99 for 8 ozs in NYC vs $3.99 for 16 oz in S&S for shredded cheese). As a retiree I am cooking for myself much more - saving $ and eating healthier. I watch what I spend but I am not (knock on wood) likely to feel I’m on a financial cliff once a month like so many do. I can imagine it though and I do sometimes get nightmares about it. It’s disgusting that the vast majority of our leaders in DC just do not get it. I haven’t had to deal with the housing market for 20 years - that is way worse than groceries. One can survive on rice and beans but only if you live somewhere that you can cook them in!
Fun one! I was surprised you didn't mention auto fuel since it's a popular one for the regime.
I like the last section and how you provided context.
Matt wants Trump to know his name. Is it true there are tags hanging in the WH?
Welcome to the Bulwark, Catherine! Affordabilty (or lack thereof, actually) = Sticker Shock. Not a con job and it’s on multiple fronts. FOOD: for ex: a 32 oz jar of mixed nuts went up from ~$11 last year to almost $17 now, that’s sticker shock - and that’s just one grocery item example of many - it’s death by 1,000 cuts. HEALTHCARE: Losing the ACA subsidies means my premium will go from ~$415 now to $2,100/mo next year - not a typo. I could go on vacation to DisneyWorld every month for that! HOUSING: I’ve had 2 colleagues in their 30s at my local library have to move back in w/parents b/c their rents went up too much, and that’s just in the last 5 months. SAD!
Yea, you got the "Ramparts" name in. The new Fed chair fight is going to be interesting, I wonder how much outside interests can push Trump to put someone halfway normal in.
Just an anecdotal note. but for the first time in the 5 years I’ve been collecting Social Security the COL increase was negated by an increase in the Medicare amount deducted for a net negative amount. Take that, affordability!
Same here.
Good luck with selling that the economy is great at the moment, and you made it better.
Affordability isn't a real thing when you're wealthy. Especially when your wealth comes at no cost to you since... y'know... you're using your office to get it.
Also - Rampell. Bulwark. Gotta say... "Ramparts" is advertising genius.
Ok troops, time to man the ramparts!
Just asking, wonder how this conversation would go if Trump et al released the job numbers, labor statistics etc. being kept in a vacuum the last few months. If they were good I would think they would be screaming about it.
All the Democrats need to say in every House and Senate race is: “Trump and his family have made over $4 billion in bribes and crypto since he took office. How are you doing ?
All the Democrats need to say in every House and Senate race is: “Trump and his family have made over $4 billion in bribes and crypto dice he took office. How are you doing ?
Wonderful to have you here! I hope your association is a long and richly rewarding one. I’m a regular reader of The Bulwark and really value the quality of what its writers produce on a range of timely topics. You are already a wonderful addition. We American citizens desperately need good economic analysis, and too many of us are underinformed. Onward!