Why Americans feel gloomy about the economy despite falling inflation and low unemployment
Why Americans feel gloomy about the economy despite falling inflation and low unemployment
Inflation has reached its lowest point in 2 1/2 years. The unemployment rate has stayed below 4% for the longest stretch since the 1960s.
Because the 'numbers' that neoliberals have decided are the indicators of a "good" economy mean almost nothing to, in all likely hood, 95% of Americans.
Measuring the right thing leads to inconvenient conclusions (age till retirement, income at retirement, income independence, buying power, home ownership, business ownership, union membership, etc.)
... because my purchasing power is much lower than two years ago and my wages aren't remotely keeping up with profiteering inflation? Because I have to be very careful around Christmas to not overspend and I get to explain to the kids why there's only a few presents under the tree? They'll be okay with it, but as a person who has children to take care of it, it's crushing to go backwards year to year in what you're able to provide? Because a 3/4 full shopping cart today (not much meat) was $179 today? And we have a fixed rate mortgage! I can't envision the pressures people who are renting or trying to buy a home right now are going through. Anyone saying "it's all good out there!" can get fucked.
I feel like I have been seeing the same article once a month since 2007.
A. Unemployment numbers are basically a lie at this point. The only number that comes even close to representating the situation is the workforce participation rate. Question: what percent of people are employed? Answer: what percent of people are employed. It is simple as that. If you look at pretty much every month the US hits a new low. Over a third of the adult population did not earn $20 dollars last week. There was a slight trending down right before 2007 crash but not significant. A deep dive into the numbers shows that this is not the result of retirement, it is the result of prime working age males dropping out.
B. Who cares if inflation is low at this moment? That is like arguing that everything is fine the previous 5 minutes when a car crash happened 6 minutes ago.
Peices of garbage keep telling us that everything is fine when it fucking isnt
Because those two metrics are meaningless for the average person.
Inflation is trending down... After it skyrocketed and is still way above affordable ranges.
Employment rates are high... But those jobs don't pay living wages.
Go check how much savings the average American has, check what an average doctor's visit costs, and then maybe you'll understand the gloom.
Doesn't take a genius to figure out that when the economy restabilizes, that doesn't mean the cost of consumer goods go down or wages go up, it just means the billionaires running the show aren't losing millions
My son graduated with a degree in economics in 2020 and still hasn't found a job. He's not counted in the unemployment numbers because he hasn't filed for benefits. We need to look at labor participation as well as underemployment instead of the useless stats being used in this article. Real wages have tanked. People are running up debt just to buy groceries. It's desperate out there.
Maybe it's because everyone is struggling with high costs of housing, food, and healthcare, among other things, while wages have remained flat and stagnant for decades.
"most prices are high and still rising" Pretty obvious that corporations are price gouging to get their friendly fascist lifetime dictator back in power.
The unemployment is low because people have a gun to their head. Inflation is falling, but it's not zero, therefore everything is still getting more expensive.
eCoNoMiCs.
My wife and I are making more money than we ever have in the past. However, before that I was unemployed and was forced to find some way to keep being able to buy groceries, gas for the car, and helping my wife pay bills. As such, the only way I saw to do so was to take out a credit card or two, and they quickly got maxed out. So now I’m stuck paying $700/month in credit card bills, as well as dealing with the increasing food and rent prices. Our bills take a larger percentage of our total wages than before. And sure, part of that’s my own fault, but at the time it was do what I did or starve and get evicted. I wasn’t about to let that happen to my wife.
We’re still able to survive, but it’s by the skin of our teeth.
Vibecession
THIS JUST IN! People raked over coals for nearly 4 years are feeling charred!
CEO's struggle to find uncharted adjacent talking points about the future economy as the middle class shrinks like a dick in a cold stream, as they unforgivablely pretend to scratch their heads while literally stealing babies from mothers. The statistics are IN, and they show that corporations do not care to provide safe as advertised products. Mothers, as expected, should be uneasy to have children since their offspring are not only more likely to have developmental problems due to microplastics in their bloodstreams, PFAFs in their bloodstream, and Teflon in their...um..everything... Along with the volatile markets, and sub standard pay increases that specifically affect everyone, except the A+ class that have trust fund money and live without feelings or care for any individuals, but the mothers must give birth for jesu... I mean for milit... I mean population contr...I mean moral values that age demographics that can't medically have children uphold. Wait. I meant because Jesus. I almost had it the first time. I really meant for Jesus. He was a swell guy, as long as you don't call him a middle eastern jew. Anyways, here's Jim with the latest CTE-ffective tackles from last night's game.
