fairak17 t1_iu27ywu wrote on October 28, 2022 at 12:31 AM

Reply to comment by Sprinkles_Hopeful in Pro-LGBTQ+ PAC Targets Penn. Republican Candidates Oz and Mastriano by wdcmsnbcgay

I support Biden but inflation, interest rates, and stock market are objectively not better then they have been.

orangesfwr t1_iu2n16j wrote on October 28, 2022 at 2:25 AM

Interest Rates have been artificially low for nearly 15 years. The strength of the economy over the last two years is the only thing allowing interest rates to go back to "normal" so aggressively.

There was a time that a 7% mortgage would be considered amazing for the buyer.

With any economic measure some will consider it a good thing and others will consider it a bad thing.

The stock market is down this year, but it was also up 10 of the preceding 13 years, with two of those 3 other years being essentially flat. Historically, that's an anomaly.

Sprinkles_Hopeful t1_iu2okt9 wrote on October 28, 2022 at 2:37 AM

You are correct interest rates were at about 7% at the end of the '70s and let's not remember interest rates being 18% under Ronald Reagan that's when the housing market blew up but like everything else it corrected itself

jdi000 t1_iu6k8sx wrote on October 28, 2022 at 10:53 PM

This was bc of the failure of the jimmy Carter administration. Let's also thank jimmy for banning the recycling of commerical nuclear waste for all the lost jobs and income that was lost. Let's be real a president has little impact during his presidency and any benefits of programs usually show up years later.

momlin t1_iu4nwzv wrote on October 28, 2022 at 2:59 PM

We had a mortgage interest rate of 7% in 1975 and thought that it was a steal.....

RecallRethuglicans t1_iu3rzju wrote on October 28, 2022 at 10:23 AM

They are awesome. Biden has created more new jobs than anyone in history. And the greatest bump in social security in almost 40 years!

jdi000 t1_iu6kfwc wrote on October 28, 2022 at 10:55 PM

Not sure how Biden created new jobs lol. Companies create jobs by growing and being profitable.

Sprinkles_Hopeful t1_iu2dqu1 wrote on October 28, 2022 at 1:15 AM

I suppose it depends on your situation I have not made money like I have made in the past year and a half in my life I can easily afford gas I can easily afford food so if people are having a problem I sympathize with them however you cannot say it's bad for everybody because it's not