Here's *exactly* why Joe Biden's poll numbers aren't getting better

[brooklynite]

CNN

While the US has been aiding Ukraine, Biden has been vigilant about keeping American troops out of the conflict because there is very little appetite for military involvement. The residual political impact is that, for the average American, a war in another country isn't a top-of-mind issue.

What is that top-of-mind issue? The economy -- and inflation in particular.

In a Quinnipiac University poll released Wednesday, 30% of Americans said inflation was the most urgent issue facing the country at the moment. Less than half that number (14%) named the Russia-Ukraine conflict.

That finding is echoed in a Kaiser Family Foundation survey released Thursday morning. More than half of those polled -- 55% of Americans -- said that the biggest issue facing the country was inflation and rising prices. Just 18% named the Russian invasion of Ukraine as the biggest problem in the country.

[AZSkiffyGeek]

1. But inflation isn't real. I read that here every day nt

[Treefrog]

2. Oh, it's real.

[AZSkiffyGeek]

3. You know that and I know that

But there's a lot who apparently don't...

[Treefrog]

7. I've been shocked at some of the price increases.

Somehow gas is still high although the price of oil is dropping.

[ck4829]

4. And billionaires and record profits are factors contributing to it

[maxsolomon]

12. I don't read that here every day.

Maybe what you read is that this Inflationary period is a global phenomenon, and not unique to the United States.

[uponit7771]

17. This too,

[Johnny2X2X]

13. There most definitely is "real inflation"

But there also is the best wage growth we've seen in decades too. So while everything is on average 7% more expensive than a year ago, people are making on average almost 6% more than they were a year ago. So it's not a good situation, but there are signs that inflation will ease yet this year.

Except for low wage earners, whose incomes went up more than inflation on average, inflation is very real and causing people to fall further behind.

[uponit7771]

16. Its real but not organic, earnings reports have corp margins through the roof and that's what

... should be addressed is the public sees the greed from corporations.

https://www.businessinsider.com/companies-pocket-largest-profits-in-70-years-amid-inflation-complaints-2021-12

[Walleye]

5. We older people know that inflation, like shit, happens. So we don't panic

[ck4829]

6. Record profits, record inflation -- what's going on?

[PortTack]

11. Price gouging is a more fitting term rather than inflation

[uponit7771]

18. Yep, inflation is real but it's not organic its naked greed

[getagrip_already]

8. and combine that with a falling stock market (they are related) and....

It spells trouble for us.

Under tfg's fed, they were literally pumping trillions of dollars a month into stock and equity markets to "stabilize" them.

You can't print trillions of dollars a month and not cause inflation. I don't care what you say.

The fed has stopped that investment, citing inflation pressures, so the feet of the market are no longer being braced up, and it's beginning to fall.

So we are facing a related double whamy of inflation and falling 401k's.

It can all be traced to tfg, but nobody will hear that. It will all be bidens and the dem's fault.

[TheRealNorth]

9. I don't believe this is currency-driven....

I think this is mostly supply-driven along with labor costs adding to it.

[uponit7771]

19. Nope, not organic too many record margins to be organic. If this was organic margins would be stable

... and not shooting through the moon

https://www.businessinsider.com/companies-pocket-largest-profits-in-70-years-amid-inflation-complaints-2021-12

[dem4decades]

10. Well the local news broadcasts never ending stories about gas and food prices, when they take a

Break from the crime stories, and the Republicans in my state are running on all three. I'm in a miserable fucking mood and this doesn't help.

[Bev54]

14. Inflation is brought on from things outside the control of the government at this time

If people would look deeper, the economy is doing really well, if more dems were elected they could pass bills to deal with the economy. Why is it still the voters thinking republicans do better with the economy and national security when all the proof shows otherwise.

[leftstreet]

15. You can't win elections telling people to "look deeper"

Stand outside a grocery store and tell the person who just spent $200 on three bags of groceries that, actually if you look deeper, the economy is doing well

[uponit7771]

20. You can by rightfully scapegoating, that's easy blame big oil and record profit margins

https://www.businessinsider.com/companies-pocket-largest-profits-in-70-years-amid-inflation-complaints-2021-12

[AZSkiffyGeek]

21. Pointing fingers doesn't win elections

[maxsolomon]

24. Pointing fingers wins elections every time for the GQP.

Pointing fingers put Trump in office.

You should stop thinking so highly of the electorate.

[ck4829]

30. It's like K in Men in Black said: A person is smart, people are dumb

And elections demonstrate that time and time again.

Take Duncan Hunter - He was convicted and then people STILL voted for him more than the other guy, Ammar Campa-Najjar, a man who was qualified and, you know, not convicted of any crimes. There was a lot of Islamophobia and talking about Ammar's grandfather rather than the issues. Wasn't a coup though, brain trusts voted for him.

[treestar]

26. LOL it works for Republicans

[ck4829]

31. And not just for Republicans, it's not a bad thing in and of itself

* that obviously excludes pointing fingers at the poor, minorities, the powerless, etc.

But it works. Assigning blame to someone is a form of resistance, especially if the pointed-at has power

[ck4829]

29. This made me literally laugh out loud, thank you for that. Good one.

[leftstreet]

22. Hand the shopper phone numbers for Big Oil?

So they can call to complain?

The point of the OP is - what are people concerned about and how might that translate in votes

[jalan48]

23. "It's the economy stupid"---James Carville, Clinton strategist 1992.

[FloridaBlues]

25. Unfortunately only CEO's and oil companies can do something about the gauging

The consumer has a role to play as well. Hope the voters don’t fall that republicans taking control will stop inflation because if the administration can’t wave a wand nor can congress.

[panader0]

27. Brent Crude Oil, considered the premium stuff, has fallen considerably from it's highs.

Somehow that drop is not reflected at the pump.
Check out the 52 week range.
https://www.marketwatch.com/investing/future/brn00?countrycode=uk

[ProfessorGAC]

28. Agreed!

Crude prices have dropped 20% on futures & 18% on spot.
Gasoline has only fallen 14% on futures & 5.8% spot.
The typical attempts to explain this lag are "Buzz, click, squeak, hum..." doublespeak.
Either retail gas prices are a function of crude prices, or they're not.
And, if futures buyers overbid because they overestimated the impact of reduced flow of 3% of world crude supply, and they lose money, who cares? They're gamblers that made a bad bet. That's their problem
There's no guarantees of profit in commodity buying. They have plunge protection mechanisms, but nothing to brake unwarranted upward spikes. How convenient.
I keep seeing here that it's the oil companies, but they don't set the wholesale price. They set a floor, based upon crude price, using a formula in the regulations. It's the marketeers who need to be grilled by congress (especially Ms.Porter). They've only grilled oil execs who are merely lucky beneficiaries of these unwarranted bets on future price.
They're not going to get to the bottom of the true cause of this ongoing lag situation unless they look into where the real problem exists.