Rich Men North of Richmond #1

[davideduardo]

The official language of Andorra is Catalan.

Back quite a few decades through the 60's and 70's, Andorra had two high power AMs that served NE Spain and SW France. So there was programming in French, Spanish and Catalán. I heard both of them in the early 60's in Ohio, and got my first dose of Catalán then.



Source: World Radio Handbook 1960.

 

[boombox4]

The word inflation never appears. The word taxes appears several times It's obvious he's complaining about taxes, not inflation:

'Cause your dollar ain't sh*t and it's taxed to no end
'Cause of rich men north of Richmond

Think again. "The dollar ain't worth sh*t" is all about inflation.

Notice the use of the word and. He's complaining about inflation AND taxes.

Take a look at the US BLS CPI calculator some time, and enter some years and numbers. The dollar right now is worth 30% less than it was worth in 2016, and when you're dealing with many necessities, it's worth a lot less than that.

CPI Inflation Calculator

www.bls.gov

The majority of Americans think inflation is a severe problem. It's probably why a lot of them identify with the lyrics in the song.

 

[Kelly A]

The majority of Americans think inflation is a severe problem. It's probably why a lot of them identify with the lyrics in the song.

So you're claiming that most Americans identify with a song's lyrics? Not just you trying to be hyperbolic because you personally feel that way?

 

[davideduardo]

So you're claiming that most Americans identify with a song's lyrics? Not just you trying to be hyperbolic because you personally feel that way?

I think he is saying that a vast majority of Americans identify with a concern over inflation and overall changes in their purchasing power. Whether they like the song is different.

 

[TheBigA]

The majority of Americans think inflation is a severe problem. It's probably why a lot of them identify with the lyrics in the song.

There are several issues listed in the song, starting with low wages.

As for inflation, it's starting to turn around. Here's analysis from Forbes:

Current U.S. Inflation Rate Report: Inflation Is Up 2.7%

According to the Labor Department’s most recent report, CPI in April was 2.3% higher than one year prior and 0.2% higher than in March.

www.forbes.com

 

[davideduardo]

There are several issues listed in the song, starting with low wages.

As for inflation, it's starting to turn around. Here's analysis from Forbes:

Current U.S. Inflation Rate Report: Inflation Is Up 2.7%

According to the Labor Department’s most recent report, CPI in April was 2.3% higher than one year prior and 0.2% higher than in March.

www.forbes.com

Please note who owns Forbes today.

 

[michael hagerty]

Please note who owns Forbes today.

David: I’d say this even if I weren’t an automotive contributor to Forbes: The piece is based on U.S. Labor Department CPI statistics.

 

[davideduardo]

David: I’d say this even if I weren’t an automotive contributor to Forbes: The piece is based on U.S. Labor Department CPI statistics.

I apologize if my observation was a bit to close to your contribution. However, in the areas of economics, finance and policy I am, shall we say, skeptical of Forbes content and motivation.

The print magazine used to be my first read when I was on planes once or twice a week, followed by Business Week. It began a decline even before being sold to the Chinese "investors" and I quit reading it around when I stopped looking at the LA time. Now it is Reuters, INFOBAE, and AFP and bits of the NYT.

 

[TheBigA]

Now it is Reuters, INFOBAE, and AFP and bits of the NYT.

Here's Reuters

U.S. inflation retreating as consumer prices fall; labor market still tight

U.S consumer prices fell for the first time in more than 2-1/2 years in December as gasoline and motor vehicles prices declined, offering hope that inflation was now on a sustained downward trend, though the labor market remains tight.

www.reuters.com

Meanwhile Reuters also points out that inflation is unchecked in Argentina.

As inflation soars, Argentines say they've seen this film before

Argentina is battling against triple digit inflation, its highest in over three decades, and that could climb to near 200% by the end of the year, stirring memories of hyperinflation in the late 1980s and other economic crises.

www.reuters.com

 

[michael hagerty]

I apologize if my observation was a bit to close to your contribution. However, in the areas of economics, finance and policy I am, shall we say, skeptical of Forbes content and motivation.

The print magazine used to be my first read when I was on planes once or twice a week, followed by Business Week. It began a decline even before being sold to the Chinese "investors" and I quit reading it around when I stopped looking at the LA time. Now it is Reuters, INFOBAE, and AFP and bits of the NYT.

As I said, David, I'd have said it even if I weren't a contributor. It's a straightforward news piece on the latest Consumer Price Index figures and I see that BigA has followed with the same story via Reuters.

 

[Mark Roberts]

We're simply reverting to the mean as far as inflation is concerned, after a 10+ year run of very low inflation where there were often-expressed concerns about slipping into a deflationary environment such as Japan's.

Inflation will always compound, but how many people understand compound interest?

 

[Deus Ex Machiato]

The majority of Americans think inflation is a severe problem. It's probably why a lot of them identify with the lyrics in the song.

A majority of Americans also believe in angels.

And while inflation was high following the pandemic (which may have something to do with businesses trying to recoup previous losses and/or pay the higher wages demanded by workers), it is coming down and is lower than in most countries.

I'd be willing to bet that if you polled Americans, a significant number - perhaps even a majority - would tell you that we've got it worse than places like Germany, the UK, France, and Australia. We don't. I would also hazard a guess that you could expect higher numbers from folks who listen to (keeping this tied into radio) conservative news sources with a vested interest in painting the current administration as "failing." I bet if I listened exclusively to my local conservative radio station, I might be led to believe that unemployment is high, inflation is still out of control, store shelves are empty, and that at any moment the government is going to instate a nationwide mask mandate and confiscate all of our guns.

If you look at the "big picture" numbers, apart from inflation most economic indicators are in pretty good shape. GDP, unemployment rate, stock market, etc. are all mostly positive, and have been consistently improving since the pandemic got more into the rear view. Yet there are also large swaths of the country that are still struggling. Like the factory workers I shared the floor with a few years ago. Rural communities. Small towns where the factory up and left.

Those folks are what the song is speaking to, but IMO the conservative media reaction to Mr. Oliver's follow-up video is instructive. The red state media sphere has their undies in a bunch over finding out that the song wasn't about "dang that Biden sucks, we want Trump back," and the people who identify with the song due to their economic situation rather than their political affiliation are like "you mean you didn't know? We're mad at the system as a whole." I'm sure Harry down at the gas station where I used to work and took the bus everyday because he couldn't afford a car would hear a very different message from the song than a guy who owns a $75,000 F-150 and has a Trump flag on his boat.

 

[Mark Roberts]

Back quite a few decades through the 60's and 70's, Andorra had two high power AMs that served NE Spain and SW France. So there was programming in French, Spanish and Catalán. I heard both of them in the early 60's in Ohio, and got my first dose of Catalán then.

View attachment 5625

Source: World Radio Handbook 1960.

Several years ago we stayed in a hotel that was a converted castle in Castellciutat (hence the name), just outside of and overlooking La Seu d'Urgell. Andorra la Vella was about half an hour away (and a checkpoint!) from there. The Bose radio in our room had presets set to Radio Andorra's FM stations.

Andorra is pretty much optimized for shopping. We drove in from El Pas de la Casa from France on RN 22, a very scenic climbing route. Then you get almost to the top and you know you're in Andorra, because that's where they put all the gas stations. Lower taxes. Not quite so scenic.

 

[boombox4]

So you're claiming that most Americans identify with a song's lyrics? Not just you trying to be hyperbolic because you personally feel that way?

No, I looked at the polling. No hyperbole necessary.

 

[CTListener]

The word inflation never appears. The word taxes appears several times It's obvious he's complaining about taxes, not inflation:

'Cause your dollar ain't sh*t and it's taxed to no end
'Cause of rich men north of Richmond

Inflation is rather obviously implied by the first five words, don't you think? Those dollars can't be taxed until you've earned them, and it's inflation that makes those dollars worth less.

UPDATE: Oops. I made the same error so many others have made: Not noticing that there was another page of posts after the one containing the post I commented on. Sorry, but the opinion still stands.

 

[CTListener]

A majority of Americans also believe in angels.

You're poking an even nastier bear by taking this thread into religion/the supernatural.

 

[boombox4]

There are several issues listed in the song, starting with low wages.

As for inflation, it's starting to turn around. Here's analysis from Forbes:

Current U.S. Inflation Rate Report: Inflation Is Up 2.7%

According to the Labor Department’s most recent report, CPI in April was 2.3% higher than one year prior and 0.2% higher than in March.

www.forbes.com

Sure, it went down a month ago, and this last, July CPI report it went back up by 0.2%, which is pretty low. But the level of inflation compared to 2019 is probably still sitting at 15% or more. The dollar, according to the BLS, is worth 30% less than it did in 2016, and it's worth 18% less than it was worth in 2020. All of it adds up.

Deux Ex Machiato made some good points. If you're one of the top 10% you can handle inflation better than if you're in the bottom 50% (which is a lot of people), and if you just lost your job, you're even worse off. It's all relative. If you're a high paid tech bro in Seattle or Silicon Valley (and haven't been laid off yet) you're going to have a rosier outlook than some working class stiff in Chicago or Cincinnati.

Anyone who thinks that there are no problems with our economy need to open their eyes. Even progressives I talk to online and in person can see that the economy is failing a lot of people.

 

[TheBigA]

Inflation is rather obviously implied by the first five words, don't you think?

Could be. However the first verse of the song refers to his pay, so he's also complaining about his wages. Then again he's complaining about a lot of stuff.

 

[TheBigA]

Anyone who thinks that there are no problems with our economy need to open their eyes. Even progressives I talk to online and in person can see that the economy is failing a lot of people.

It's a work in progress. Some want to forget or ignore that we just came out of a pandemic. As the Forbes article I linked pointed out, we're seeing a lot of adjustments being made. Companies want to make up for losses, plus they discovered they could operate with fewer employees and less square footage. But as the title states, he's pointing his anger at the politicians, not the companies.

 

[kevtronics]

Could be. However the first verse of the song refers to his pay, so he's also complaining about his wages. Then again he's complaining about a lot of stuff.

Needless to say we've spent far longer analyzing this song than it took for Oliver Anthony to write it. It's a gut-feeling song, not a thoroughly researched critique of American government and late-stage capitalism. That's why it's appealing to people who vote based on their gut feelings -- the ones who the media refers to as "low-information voters".