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circuitfarmer ,
@circuitfarmer@lemmy.sdf.org avatar

Stock market gains or shareholder gains mean absolutely shit to the average american.

If I can’t afford housing and bread, shit isn’t good. Let’s change how we report on the economy.

Omgboom ,

With the most recent employment numbers, things are about to get worse

Empricorn , (edited )

I dare you to post a wage gap chart. Who gives a fuck if the “country” is growing financially, if like 60 billionaires take more of it??

Pyr_Pressure ,

There’s the “economy” and then there’s the real economy. The one that affects the 1% and the one that affects the 99%.

The 1% love the current “economy”.

The 99% hate the current economy.

henfredemars ,

The economy as reported is a measure of rich people sentiment, not a measure of how we’re doing.

chemicalwonka ,
@chemicalwonka@discuss.tchncs.de avatar

No, no, the economy goes very well to the bourgeois elite that controls the state.The workers who are getting worse and worse.

Communism-15592290

cyborganism ,

It’s going well for anyone making capital gains. It sucks for anyone else earning a fucking wage.

KyuubiNoKitsune ,

Yeah, corporations are doing great, the “economy” is a good indication of that, but it means fuck all for us.

AshMan85 ,

Gilded age 2.0

APassenger ,

I’m ready for progressive Roosevelt-types and I’m voting as hard as I can to get them. I’ll take Teddy, I’ll take FDR, I’ll take Eleanor.

I just want someone scrappy enough to succeed on our behalf.

Icalasari ,

I just want things to hurry up and get to the stage where rich investors start jumping from windows again because even the stock market can't hide shit anymore

FlashMobOfOne ,
@FlashMobOfOne@lemmy.world avatar

It doesn’t matter that the economy is growing if it isn’t lifting up your life as well. Hundreds of millions of people still live in US states where it’s legal to pay $7 an hour. (2/3 of them) All of us are dealing with rampant inflation and crippling costs for utilities, housing, and food.

The government’s position on this is that the Biden Administration has created 16,000,000 jobs, and while that may be true, I’d wager my savings that most of those are second and third jobs, because it’s become impossible to live with just one in the United States of America.

APassenger ,

I’d wager my savings that most of those are second and third jobs, because it’s become impossible to live with just one in the United States of America.

I’ve wondered this as well - and wondered if Biden ever really grokked what’s happening. Hopefully others do and they follow through once they win (if they do).

FlashMobOfOne ,
@FlashMobOfOne@lemmy.world avatar

Biden ever really grokked what’s happening

I don’t think anyone at the federal does. If they do, they simply don’t care, judging by their actions.

We’re about to hit 20 years of the minimum wage being $7 at the federal level, across three administrations, two of which were Democratic with control of Congress. I expect more of the same no matter who we elect in the fall.

ironhydroxide ,

I’d wager my savings

Well if you’re like most sub 35yr olds, that’s not a big wager at all.

FlashMobOfOne ,
@FlashMobOfOne@lemmy.world avatar

That’s a really depressing statistic. I wish we could get everyone under 40 to vote differently, but I don’t think we can.

BrotherL0v3 ,

Well yeah. Who gives a fuck about a 2% increase in the GDP? Prices are high and wages are low.

SteveFromMySpace , (edited )

“Wages and salaries increased 5.1 percent for the 12-month period ending in June 2024 and increased 4.7 percent a year ago. Benefit costs increased 4.8 percent for the 12-month period ending in June 2024.The prior year’s increase was 5.2 percent.”

I cannot speak to your individual case or where you live or respective industry. But “wages are low“ is incredibly reductionist. They’re up ~9.8% over 2 years.

It’s also important to remember that the entire world is hurting as we are emerging from a near recession/massive economic disruption due to Covid. The US has actually had a better story than many of its peers.

That being said I would never argue we have a healthy economy. I just think your particular characterization is flawed. Income inequality is still skyrocketing as it has been for about 20 years. Arguably 50. But “skyrocketing” wouldn’t apply entirely to 1980-2010

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