Bloomberg attempts to reconcile their propaganda narrative with reality. US economy is doing great, but everybody is angry. Chinese economy is collapsing, but people seem calm. How can this be?!
Bloomberg attempts to reconcile their propaganda narrative with reality. US economy is doing great, but everybody is angry. Chinese economy is collapsing, but people seem calm. How can this be?!
It’s simple. Cost of living matters.
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I wonder if the author knows they're playing dumb, or if they understand the situation but are writing articles with dumb pitches because that's all journalism is now:
A possible explanation for today’s quiet is the benign cost of living in China.
the rest of the article just details how much cheaper living is in China, how much cheaper their goods are, food is, travel is, etc. Pretty easy to connect the dots on why Chinese people are not angry, meanwhile the US administration's response to voters telling them the economy sucks is to point at a graph or the stock market and scold them
The most hilarious part for me was the whole notion that having savings is bad actually. Turns out that not having to worry about your cost of living is what makes people gloomy!
Savings is bad under capitalism because the masses far outnumber the owners so if the masses can save a dollar each that's hundreds of millions of dollars the owners can't legally touch. They got around a lot of that with fractional reserve banking, but it's still a problem for them.
savings also undermines the reserve army of labor
Yeah, this is the neoliberal brain rot where they see people having savings as being "inefficient", meanings money isn't flowing to the top.