President-elect Trump isn't even in office yet and he's walking back one of his biggest promises. That is, that he is going to lower prices. Also, he now says that tariffs may hurt Americans.

https://www.vanityfair.com/news/stor...BuiWJoHsUqiI5Z

Prices rarely go down. Everyone with half a brain knows that. We can't buy food at 1950s or 1980s, or ... prices for example. But prices can be stabilized and not increase at the rapid rate of the last few years. Hopefully with lower energy costs will help in the supply side. Still in places like Kalifornia, prices will remain high due to minimum wage and such. See a couple more McDs restaurants bit the dust there because of that. Anyway that is my hope. Stability in the economy. We'll see. Can't be worse, only better.

Trump 1.0 made the economy worse. I hope you're right, but, I doubt it.

How quick do policy changes effect the economy? Seems more like steering the titanic instead of a speedboat: way greater turning radius.

What's the turning radius of the economy? What if changes made by one administration don't become apparent as helpful or not until the next administration is already in office; and when they are helpful, each administration claims the credit? How's it gonna get anywhere if each administration just undoes what the last one did--like an unhealthy marriage.

It's not directly related to prices, but I think that Harry Shearer's interview with Dr. Stephanie Kelton, professor of economics and public policy at Stony Brook University, is relevant to this thread and to how much (or little) government policy affects the economy.

The interview starts at about the 21-minute mark.

As an aside, John Maynard Keynes was right. The Chicago School is wrong.

One of the big complaints I hear about the U.S. government is that one party controls one half of the legislature and the other controls the other half and the presidency (or some variation on that theme) and they can never "get anything done". My take on it is that that's the beauty of the system - not so much that we have "checks and balances" but that between them all they can never get anything done. Based upon the mess we have with what little they do get done, imagine what a disaster it would be if those idiots could get more done!

A family member with whom I live (in the U.S) holds political and economic views that are the polar opposite of mine. She was ranting because, "Biden's economic policies will come to fruition just in time for Trump to take credit for the economy improving." And she went on and on about how it works out that way every time a conservative gets elected. I finally had to say, "What really sucks is the way the economic lag time exactly matches the 4 year electoral cycle every single time" in the hope that we could move on to something less contentious like religion or sports or the best text editor. When she didn't drop the subject, I said, we really have to stop talking about this stuff" only to be met by, "Why - I thought we were pretty much on the same page this time." Then I had to confess, "No, I was mocking you." Then I had to pretend to feel bad about it.

Well what did you expect ....
he is a narcissist and only thinks about HIMSELF !!!!

Truth! The next four years will be eventful.

Yep... That is why it is good to slow some things down and why there three branches of government -- especially all the liberal/political correctness nonsense of the last four years that goes against the grain of the majority of the American people . Need to get back to our core values, believing in the constitution, God, and MAGA.

There is some truth to this. Not Biden's policies specifically but there is usually a year to a year and a half before the full impact of a new administration becomes apparent. For better or worse you decide. Nothing they do can switch the path on a dime like many people on both sides seem to think. For all the naysayers about Trump we won't know for awhile yet. For all the "Yay Trump!" folks, we still won't know because he will be riding the wake of the previous. So it's impossible to know regardless of how much a person loves a specific side or politician. And for people who actually believe the stock market is the meter for success then that has always been up at the beginning of a new admin regardless of who it is. It will correct just like it historically has after the "new admin" has broken it in a bit. Again for better or worse you decide.

All I got is I took a picture of the gas price I paid back in November and also started carts using instacart for groceries with three local stores. Added store brand white bread, eggs, and milk and screenshot those. I'll probably delete them and never make any fuss or pronouncement about them.

We'll see what time brings.

I concur that prices ultimately rise over the years.

What I say to certain friends who laud the situation and cite that the economy is going to be "fixed".

"I'm sorry things are so tough."

I get a cross-eyed look.

None of them have it anywhere near bad at all, most are retired and comfortable with 1 or more paid off houses plus vacation spots, and kids whom they helped get started. Their kids own houses too.

I'm better off than I was 30, 20, 10, 5, and 1 year ago. It's called personal finance, proper budgeting, and planning.

The economy swings like a pendulum but not evenly each way and not in the same frequency all the time. I've lived long enough to see the 80s to 90s where the bubble burst and we had a recession. Do I blame Reagan for that? Or Carter? Or Bush? No. The other thing is dice have no memory, while the economy has been shown to pendulum, doesn't mean it always will.

Years ago, I feel it doesn't apply now, I cited that things had to do with "the price of coke on the street" Coca-Cola.

If a 2 liter was $0.69, it was because times were tough and sensible people spent their money on milk, eggs, veggies. And when it cost $1.99 it was because the product was more in demand because people would splurge, due to a better economy. Doesn't apply nowadays people buy, buy, buy. As a result their financial situations are more volatile then they should be.

Follow tried and true practices, spend less than you make, save all the time, not just for one thing.

It ain't easy, nobody promised it would be.