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1796 points koolba | 1 comments | | HN request time: 0.836s | source
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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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crazygringo ◴[] No.42066984[source]
Yup, there's nothing they could have done. That's the tragedy of it.

You can't just educate people in a campaign that the President doesn't cause inflation, when it's the result of a global pandemic. They just don't listen and don't care. The different campaign messages get tested among focus groups. The ones that try to teach economics or explain inflation perform terribly.

This isn't a failure of Democrats at all. This is just pure economic ignorance among voters.

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_DeadFred_ ◴[] No.42067263[source]
You will never win in a democracy if your stance is 'the voters failed me'. That the dems have chosen that mindset saddens me.

It's not the voters job to come to a party, it's the party's obligation to figure out how to appeal to voters. The dems chose to tell people who are suffering that 'the economy is great, this is what we think a good economy looks like and we are patting ourselves on the back for it'. To voters that are suffering that seems like 'our version of good doesn't GAF about you'. Not a great message. You could have the best economics professors/communicators in the world explaining it, people still aren't voting for that.

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cmdli ◴[] No.42067635[source]
What could the Democrats have done about it? Inflation was successfully reduced back down to normal levels without a recession, successfully managing a soft landing. What else could they do?
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angrysaki ◴[] No.42067777[source]
Just picture Bernie Sanders hammering home that the wealthy are screwing everybody. That's the kind of messaging they need but they would rather loose than move left.
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gizmo ◴[] No.42068641[source]
You can -- to some extent -- combat right wing populism with left wing economic populism, but there are two key problems with this strategy:

1) the Democrat party hates economic populism. Bernie would have to hijack the party like Trump did. But where Trump has many allies in positions of power, Bernie has none.

2) the populist rhetoric that people like the most is false. Grocery prices aren't high because supermarkets suddenly got greedy. Worker exploitation isn't why billionaires exist.

I also don't think it's good strategy blame a minority group for all the problems in the country. Billionaires are not a protected minority obviously, but when you stoke anger against one group it can easily result in a different group getting unjustly targeted (Mexicans, trans people, etc). We don't need any more of that and politics of hate and resentment isn't the way forward.

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int_19h ◴[] No.42071287[source]
Either billionaires really earn their pay, which implies that they are thousands of times more productive as a person than the rest of us - literally superheroes.

Or - if you accept this as the obvious bullshit that it is - then all that money is not a fair compensation for anything, but rather the consequence of being in a position of economic power that makes it possible to extract wealth from the economy in one way or another. How exactly said extraction is done is immaterial - if the wealth is unearned, it means that it was taken from someone else, since someone ultimately did the work necessary to create it.

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TimeBearingDown ◴[] No.42073460[source]
You seem focused on the labor theory of value, and sidestep completely the entire idea of investors, or the entrepreneurial function they serve.

Advocate for higher taxes if you wish, but acknowledge that economics are not a zero-sum game and propose an alternative to savvy investment, unless you simply want to foment division or to upend modern capitalism entirely.

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1. int_19h ◴[] No.42085149[source]
Economics are only not a zero-sum game to the extent physics permits it to be. No amount of financial wizardry can change the fact that, ultimately, it's the labor that produces all wealth on the planet. Investors in modern capitalism, for the most part, serve the function of parasites, so yes, it would be very nice to upend it entirely.