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    1796 points koolba | 11 comments | | HN request time: 1.212s | source | bottom
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    drawkward ◴[] No.42063854[source]
    It's the economy, stupid:

    -Inflation is not prices; it is the rate of change in prices. Low inflation doesn't imply low prices. -Aggregate statistics don't necessarily explain individual outcomes.

    The Dems failed on this count massively, and have, for maybe the last 40 years, which is about the amount of time it took for my state to go from national bellwether (As goes Ohio, so goes the nation) to a reliably red state. This cost one of the most pro-union Senators (Sherrod Brown) his job.

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    UncleOxidant ◴[] No.42066822[source]
    > The Dems failed on this count massively

    What was their failure here? The failure to explain to the economically illiterate that while inflation is now about where it was prior to covid that prices won't be going down (unless there's some sort of major recession leading to deflation)?

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    ComplexSystems ◴[] No.42067493[source]
    The failure is in this very common exchange

    Average voter: I can't afford groceries at the store. Inflation sucks.

    Response: Actually, here is the correct definition of "inflation." As you can see from the correct definition, inflation rates are now good! Hopefully this helps you understand why things will never get better.

    What the average voter hears: I can't afford groceries. Your solution to this problem is to reframe the current situation as "good." I still can't afford groceries.

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    1. cmdli ◴[] No.42067677[source]
    Democrats don’t control the price of groceries, and even what they can somewhat control (inflation) improved massively. Trump will also not bring down the price of groceries, so either voters don’t care about that or they (completely incorrectly) blame Democrats for it. Either way, I don’t see this as the Democrats fault.
    replies(5): >>42067752 #>>42067841 #>>42068463 #>>42068687 #>>42071725 #
    2. lukevp ◴[] No.42067841[source]
    Yes, whatever portion made their decision based on cost of groceries do believe the president influences prices. It’s the same as the old line about “gas prices are too damn high”. Most people aren’t very involved in politics and they don’t understand things like this, or that economic cycles are so long that half the time it’s the result of the previous party’s actions what is happening now.
    replies(1): >>42068045 #
    3. ◴[] No.42067928[source]
    4. mobilefriendly ◴[] No.42068045[source]
    Harris played to and reinforced this economic illiteracy by proposing federal price controls for groceries.
    replies(1): >>42071806 #
    5. ComplexSystems ◴[] No.42068463[source]
    I'll just point out that when you say "inflation improved massively," you are talking about the second derivative of price. You are saying that there was a positive change in inflation, meaning that the rate of change of the rate of change of price is favorable. Who cares? This is not a meaningful statistic. People can't afford groceries!
    replies(1): >>42070246 #
    6. rkuodys ◴[] No.42068687[source]
    >>Either way, I don’t see this as the Democrats fault.

    Somehow I think that's problem. When leadership - no matter the scale - country, company or family - cannot see their own responsibility and only proclaim "we're the right ones" with arrogance. That is when you get unfavourable outcome. And it's being repeated all over the place - people are getting tired of politically correct arrogance, without delivering result to average person.

    7. lukas099 ◴[] No.42070246[source]
    Well, we don’t want prices to go down. That would be deflation, which is worse than inflation.
    replies(1): >>42075458 #
    8. dboreham ◴[] No.42071725[source]
    In theory Trump could bring down the price of groceries by threatening to put the Kroger CEO in prison, etc.
    9. Lord-Jobo ◴[] No.42071806{3}[source]
    But I mean what else could she do? You tell the electorate the truth and they don't understand it or don't listen, you lie and say "fine we will fix it with price controls" and they freak out all the same. Only one side of the political apparatus can like with impunity, apparently.
    10. disgruntledphd2 ◴[] No.42075458{3}[source]
    So how come the massive deflation in goods over the last fifty years didn't destroy the world economy?
    replies(1): >>42120412 #
    11. lukas099 ◴[] No.42120412{4}[source]
    Some goods might have deflated, but overall there was mild inflation.