Mark Cuban laments the Biden admin's marketing of the economy

[wbrocks67]

This is the perfect encapsulation of the sucky situation Biden is in. He should be able to tout this stuff - but every time he does - he gets backlash from people who say they "don't feel it" - but then when he doesn't do it ENOUGH - he then gets backlash from people who say he's not doing ENOUGH to tout how good the economy is. A lose lose.

https://twitter.com/mcuban/status/1790107289497518198

[jojoju1998]

It's Biden's persona and age.

Like many Americans, people I know see Biden as a doddering old man. Compare and contrast this with how Reagan marketed 1984, despite the economy at that time, being actually worse than now.

[Progressive Pessimist]

Can Cuban offer any help on the messaging instead of just complaining about it?

[GAinDC]

Why doesn’t Mark Cuban cut an ad for Biden?

[wnwnwn]

It's Biden's persona and age.

Like many Americans, people I know see Biden as a doddering old man. Compare and contrast this with how Reagan marketed 1984, despite the economy at that time, being actually worse than now.

Mondale 1984 ads were bad, too focused on foreing policy (were Reagan was favored) and attack.

[wbrocks67]

It's Biden's persona and age.

Like many Americans, people I know see Biden as a doddering old man. Compare and contrast this with how Reagan marketed 1984, despite the economy at that time, being actually worse than now.

It doesn't matter - because you have every media outlet forcefully pushing back against it right now. Joe Biden could create the greatest ad of all time on the economy but yet it would get enormous pushback from every writer in America finding "average Americans" who think he's some elite who doesn't know what he's talking about. I mean, you're already getting that just from the small marketing they do about the economy right now - which is usually mostly about touting their legitimate achievements!

[Cyrusman]

This does nothing for the average working class dude. Someone making six figures a year who has a bunch of stocks, or has stocks as a part of their compensation is probably stoked, but it doesn't effect or help the majority.

[TechbroMBA]

“Why don’t you ing retards thank Biden harder?”

[GAinDC]

This does nothing for the average working class dude. Someone making six figures a year who has a bunch of stocks, or has stocks as a part of their compensation is probably stoked, but it doesn't effect or help the majority.

All these statements tell me is that some people think Biden should never say anything about job growth or economic investment or the stock market or falling inflation because there are still people who are struggling.

That’s always the case, and it’s insane the kind of tight rope people expect him to walk when talking about the economy.

Biden should shout it from the rooftops that he has overseen one of the largest periods of economic growth in history, and it’s not just at the top — as evidenced by the investments that are pouring into communities across America.

[Oregon Eagle Politics]

The cost of housing, gas, etc. relative to Americans income is higher than it was during the Trump years. This is why average voters see the economy as bad, even though wealthy people and corporations think and insist it is doing better than ever, because for them, it is.

The contrast between the Biden economy and the Trump economy, as well as issues like immigration is why Trump is shellacking Biden in polls. Obama also had a mediocre economy in 2012, but he knew this and emphasized what he was doing to improve it and how Romney would hurt it. Biden is simply a lot worse at communicating than Obama, and Trump has a tangible record unlike Romney.

[lfromnj]

I love how wbrocks quotes a tweet showing quantitative easing which was a factor in inflation which is hated by all Americans and then argues Biden should advertise this.

It's also been somewhat harmful for a lot of younger retail investors to even be involved in this stuff. Its basically the same story as sports gambling.

[HisGrace]

The cost of housing, gas, etc. relative to Americans income is higher than it was during the Trump years. This is why average voters see the economy as bad, even though wealthy people and corporations think and insist it is doing better than ever, because for them, it is.

Not sure why so many aren't getting this. The suggestion that the economy now is better than in the mid 80's is ridiculous considering how much lower the cost of living was then, you could live comfortably on a lot less with a lot more disposable income.

[TechbroMBA]

The cost of housing, gas, etc. relative to Americans income is higher than it was during the Trump years. This is why average voters see the economy as bad, even though wealthy people and corporations think and insist it is doing better than ever, because for them, it is.

Not sure why so many aren't getting this. The suggestion that the economy now is better than in the mid 80's is ridiculous considering how much lower the cost of living was then, you could live comfortably on a lot less with a lot more disposable income.

No don't you see my chart and graphs are much more persuasive than your bank account.

It's not that economic indicators are imperfect metrics that attempt to gauge how the economy and consumers are doing; rather the economy is the indicators and your economic health is driven by them. This is your brain on academia.

[Cyrusman]

This does nothing for the average working class dude. Someone making six figures a year who has a bunch of stocks, or has stocks as a part of their compensation is probably stoked, but it doesn't effect or help the majority.

All these statements tell me is that some people think Biden should never say anything about job growth or economic investment or the stock market or falling inflation because there are still people who are struggling.

That’s always the case, and it’s insane the kind of tight rope people expect him to walk when talking about the economy.

Biden should shout it from the rooftops that he has overseen one of the largest periods of economic growth in history, and it’s not just at the top — as evidenced by the investments that are pouring into communities across America.

There will always be people who are struggling, but the difference is how many people. Right now, it's a lot. Unless, you have a great cushy job making six figures, life is rough.  I live in CA, my wife and I both make around $90k a year and we can't afford anything more than a 1 bedroom apartment. Our jobs don't allow us to move to the middle of nowhere. sh**t sucks right now.

[GAinDC]

This does nothing for the average working class dude. Someone making six figures a year who has a bunch of stocks, or has stocks as a part of their compensation is probably stoked, but it doesn't effect or help the majority.

All these statements tell me is that some people think Biden should never say anything about job growth or economic investment or the stock market or falling inflation because there are still people who are struggling.

That’s always the case, and it’s insane the kind of tight rope people expect him to walk when talking about the economy.

Biden should shout it from the rooftops that he has overseen one of the largest periods of economic growth in history, and it’s not just at the top — as evidenced by the investments that are pouring into communities across America.

There will always be people who are struggling, but the difference is how many people. Right now, it's a lot. Unless, you have a great cushy job making six figures, life is rough.  I live in CA, my wife and I both make around $90k a year and we can't afford anything more than a 1 bedroom apartment. Our jobs don't allow us to move to the middle of nowhere. sh**t sucks right now.

Sorry you’re struggling, but California hasn’t been affordable for decades. You can’t blame Biden for that.

Also, I find it kind of odd that you make a combined $180k and you can’t afford a 2 br apt somewhere close to where you work. Choosing a more affordable suburb a little further outside whatever city you work in is not the same as moving to “the middle of nowhere.”

I just don’t buy the pessimism bc if Americans were as financially squeezed as they claim to be, we also wouldn’t see consumers spending so much like the data is showing. 

[GAinDC]

The cost of housing, gas, etc. relative to Americans income is higher than it was during the Trump years. This is why average voters see the economy as bad, even though wealthy people and corporations think and insist it is doing better than ever, because for them, it is.

The contrast between the Biden economy and the Trump economy, as well as issues like immigration is why Trump is shellacking Biden in polls. Obama also had a mediocre economy in 2012, but he knew this and emphasized what he was doing to improve it and how Romney would hurt it. Biden is simply a lot worse at communicating than Obama, and Trump has a tangible record unlike Romney.

Trump inherited a good economy and ran it into ground. Biden inherited that bad economy and is building it back up, like Obama did. There’s more work to be done, but we’re in a better spot now than we were 4 years ago or even 2 years ago.

I refuse to let actual economic data and real Biden accomplishments be overshadowed and negated by “vibes”

[TechbroMBA]

The cost of housing, gas, etc. relative to Americans income is higher than it was during the Trump years. This is why average voters see the economy as bad, even though wealthy people and corporations think and insist it is doing better than ever, because for them, it is.

The contrast between the Biden economy and the Trump economy, as well as issues like immigration is why Trump is shellacking Biden in polls. Obama also had a mediocre economy in 2012, but he knew this and emphasized what he was doing to improve it and how Romney would hurt it. Biden is simply a lot worse at communicating than Obama, and Trump has a tangible record unlike Romney.

Trump inherited a good economy and ran it into ground. Biden inherited that bad economy and is building it back up, like Obama did. There’s more work to be done, but we’re in a better spot now than we were 4 years ago or even 2 years ago.

I refuse to let actual economic data and real Biden accomplishments be overshadowed and negated by “vibes”

That's only true if you disingenuously blame Trump for COVID and give Biden the benefit for COVID ending. That's a hack belief and clearly the general public doesn't buy it.

Here's some useful data for those who don't get the marketing.

https://fred.stlouisfed.org/series/LES1252881600Q

Median real (inflation-adjusted) wages. Look at it from 2008-2016, then 2017-2020 and then Biden's term. This is why the polling shows Trump winning on the economy.

Note, here, I am not saying the chart is driving people's perceptions. The chart merely explains why people feel the way they do.

This is instead of your approach of telling people, "look! chart! feel better!"

[GAinDC]

The cost of housing, gas, etc. relative to Americans income is higher than it was during the Trump years. This is why average voters see the economy as bad, even though wealthy people and corporations think and insist it is doing better than ever, because for them, it is.

The contrast between the Biden economy and the Trump economy, as well as issues like immigration is why Trump is shellacking Biden in polls. Obama also had a mediocre economy in 2012, but he knew this and emphasized what he was doing to improve it and how Romney would hurt it. Biden is simply a lot worse at communicating than Obama, and Trump has a tangible record unlike Romney.

Trump inherited a good economy and ran it into ground. Biden inherited that bad economy and is building it back up, like Obama did. There’s more work to be done, but we’re in a better spot now than we were 4 years ago or even 2 years ago.

I refuse to let actual economic data and real Biden accomplishments be overshadowed and negated by “vibes”

That's only true if you disingenuously blame Trump for COVID and give Biden the benefit for COVID ending. That's a hack belief and clearly the general public doesn't buy it.

Here's some useful data for those who don't get the marketing.

https://fred.stlouisfed.org/series/LES1252881600Q

Median real (inflation-adjusted) wages. Look at it from 2008-2016, then 2017-2020 and then Biden's term. This is why the polling shows Trump winning on the economy.

Note, here, I am not saying the chart is driving people's perceptions. The chart merely explains why people feel the way they do.

This is instead of your approach of telling people, "look! chart! feel better!"

I mean… it’s still higher than it was during Trump’s term.

My point is not that nobody has a right to complain about cost of living, it’s that Trump was always given the benefit of the doubt about his economic management while Biden is given no such benefit, despite being able to point to just as many strong economic indicators.

Sorry bud, you won’t convince me. I’m a regular, middle class guy and i feel the sting of higher prices but im still doing better now than when Trump was in office. Why doesn’t my experience count? Especially when it is backed up by macro data points that show Americans making more money, finding new jobs, and spending their money generously.

It’s all about what the media chooses to cover, and they’ve decided the voices of people who say the economy is worse (Even if their personal finances don’t reflect that) matter more. It all goes back to the media refusing to give Biden credit for anything because he refuses to play their games like their pal, Trump, did.
 
I’d never encourage Biden or his campaign to say this, but I believe it’s the truth.

[Cyrusman]

This does nothing for the average working class dude. Someone making six figures a year who has a bunch of stocks, or has stocks as a part of their compensation is probably stoked, but it doesn't effect or help the majority.

All these statements tell me is that some people think Biden should never say anything about job growth or economic investment or the stock market or falling inflation because there are still people who are struggling.

That’s always the case, and it’s insane the kind of tight rope people expect him to walk when talking about the economy.

Biden should shout it from the rooftops that he has overseen one of the largest periods of economic growth in history, and it’s not just at the top — as evidenced by the investments that are pouring into communities across America.

There will always be people who are struggling, but the difference is how many people. Right now, it's a lot. Unless, you have a great cushy job making six figures, life is rough.  I live in CA, my wife and I both make around $90k a year and we can't afford anything more than a 1 bedroom apartment. Our jobs don't allow us to move to the middle of nowhere. sh**t sucks right now.

Sorry you’re struggling, but California hasn’t been affordable for decades. You can’t blame Biden for that.

Also, I find it kind of odd that you make a combined $180k and you can’t afford a 2 br apt somewhere close to where you work. Choosing a more affordable suburb a little further outside whatever city you work in is not the same as moving to “the middle of nowhere.”

I just don’t buy the pessimism bc if Americans were as financially squeezed as they claim to be, we also wouldn’t see consumers spending so much like the data is showing.  

Yes, but not to this extent. I miss my $3.25 gas prices in CA of all places, which I had as recently as 3-4 years ago. Now it's $5.50. I don't blame Biden for CA being pricey, but I sure do blame him for that $1.9 trillion dollar spending package that we barely even hear about from him anymore.

As far as moving goes, we're looking at it, but traffic here is a living hell and there comes the point where you balance moving a hour or so out for cheaper housing, while paying more in gas and 2+ hours a day in traffic, and the current rates are so bad to buy, and rent is so high that we're in a cheaper area now vs leaving and going in on the open market in a lot places.

Also, to be honest, I don't get how all these people are spending. Are some people just comfortable charging things left and right and just making the minimum payments? I can't do that. Would give me so much anxiety.

[GAinDC]

This does nothing for the average working class dude. Someone making six figures a year who has a bunch of stocks, or has stocks as a part of their compensation is probably stoked, but it doesn't effect or help the majority.

All these statements tell me is that some people think Biden should never say anything about job growth or economic investment or the stock market or falling inflation because there are still people who are struggling.

That’s always the case, and it’s insane the kind of tight rope people expect him to walk when talking about the economy.

Biden should shout it from the rooftops that he has overseen one of the largest periods of economic growth in history, and it’s not just at the top — as evidenced by the investments that are pouring into communities across America.

There will always be people who are struggling, but the difference is how many people. Right now, it's a lot. Unless, you have a great cushy job making six figures, life is rough.  I live in CA, my wife and I both make around $90k a year and we can't afford anything more than a 1 bedroom apartment. Our jobs don't allow us to move to the middle of nowhere. sh**t sucks right now.

Sorry you’re struggling, but California hasn’t been affordable for decades. You can’t blame Biden for that.

Also, I find it kind of odd that you make a combined $180k and you can’t afford a 2 br apt somewhere close to where you work. Choosing a more affordable suburb a little further outside whatever city you work in is not the same as moving to “the middle of nowhere.”

I just don’t buy the pessimism bc if Americans were as financially squeezed as they claim to be, we also wouldn’t see consumers spending so much like the data is showing.  

Yes, but not to this extent. I miss my $3.25 gas prices in CA of all places, which I had as recently as 3-4 years ago. Now it's $5.50. I don't blame Biden for CA being pricey, but I sure do blame him for that $1.9 trillion dollar spending package that we barely even hear about from him anymore.

As far as moving goes, we're looking at it, but traffic here is a living hell and there comes the point where you balance moving a hour or so out for cheaper housing, while paying more in gas and 2+ hours a day in traffic, and the current rates are so bad to buy, and rent is so high that we're in a cheaper area now vs leaving and going in on the open market in a lot places.

Also, to be honest, I don't get how all these people are spending. Are some people just comfortable charging things left and right and just making the minimum payments? I can't do that. Would give me so much anxiety.

Sorry to hear all that. Good thing Biden is making historic investments in public transit but obviously that won’t be felt immediately. What will Trump do to bring down those costs more quickly?

[TechbroMBA]

I mean… it’s still higher than it was during Trump’s term.

My point is not that nobody has a right to complain about cost of living, it’s that Trump was always given the benefit of the doubt about his economic management while Biden is given no such benefit, despite being able to point to just as many strong economic indicators.

Sorry bud, you won’t convince me. I’m a regular, middle class guy and i feel the sting of higher prices but im still doing better now than when Trump was in office. Why doesn’t my experience count? Especially when it is backed up by macro data points that show Americans making more money, finding new jobs, and spending their money generously.

It’s all about what the media chooses to cover, and they’ve decided the voices of people who say the economy is worse (Even if their personal finances don’t reflect that) matter more. It all goes back to the media refusing to give Biden credit for anything because he refuses to play their games like their pal, Trump, did.
 
I’d never encourage Biden or his campaign to say this, but I believe it’s the truth.

Cool, that's fine. If you're doing better - congrats! Clearly though for the median voter the Trump experience was steadily rising purchasing power, with that declining throughout Biden's term as inflation compounds.

No amount of marketing or explaining is going to tell people they're doing better, if their paychecks aren't stretching as far.

Ultimately a marketing exercise can't make up for an accounting exercise.

[GAinDC]

I mean… it’s still higher than it was during Trump’s term.

My point is not that nobody has a right to complain about cost of living, it’s that Trump was always given the benefit of the doubt about his economic management while Biden is given no such benefit, despite being able to point to just as many strong economic indicators.

Sorry bud, you won’t convince me. I’m a regular, middle class guy and i feel the sting of higher prices but im still doing better now than when Trump was in office. Why doesn’t my experience count? Especially when it is backed up by macro data points that show Americans making more money, finding new jobs, and spending their money generously.

It’s all about what the media chooses to cover, and they’ve decided the voices of people who say the economy is worse (Even if their personal finances don’t reflect that) matter more. It all goes back to the media refusing to give Biden credit for anything because he refuses to play their games like their pal, Trump, did.
 
I’d never encourage Biden or his campaign to say this, but I believe it’s the truth.

Cool, that's fine. If you're doing better - congrats! Clearly though for the median voter the Trump experience was steadily rising purchasing power, with that declining throughout Biden's term as inflation compounds.

No amount of marketing or explaining is going to tell people they're doing better, if their paychecks aren't stretching as far.

Ultimately a marketing exercise can't make up for an accounting exercise.

Thanks.  

The spike in purchasing power in 2020 was due to Covid. It fell back down to earth during Biden’s term but has still been trending up since then. People say they want the 2019 economy, but purchasing power is higher in 2024. You tell on yourself by ignoring that.

Why does Trump not have to take any blame for the spike in unemployment due to Covid but he can take credit for the spike in purchasing power? That’s the point I’m trying to make.

We’ve made a lot of economic progress in the last 4 years. You don’t have to acknowledge it but it’s true. Biden can and should talk about that, and I think it will ultimately make a difference.

[NYSforKennedy2024]

May 2019 Fed Funds Rate - 2.19

April 2024 Fed Funds Rate - 5.33

You're just statistically incorrect if you think that purchasing is easier under Biden than pre-COVID Trump.