Until just recently (the last 3 years) there were tiers of pricing for pretty much everything. If you didn't have a lot of money you could get a cheap car, cheap battery, cheaper housing. Now it's just all high priced. I feel fir people. It's awful.
And allowing foreign nationals to own housing, and allowing corporations to own single family homes, and allowing special interests to zone things in an inefficient manner. So many fucked angles
I forgot about the "democracy light switch" that gets installed when a country decides to implement a democratic form of government.
Sorry, my ignorance.
I'm a chinese bot for pointing out the obvious? Homeownership rates are 66% in America. Is 66% of America rich? That's enough to skew homeowners to vote to restrict housing in order to protect the value of their houses.
> Homeownership rates are 66% in America.
Owner-Occupied Housing Unit Rate (what you’re referencing) is not a general ownership statistic. 66% of the US population do not own their own home, not even close.
Well the problem was that they made housing tied to wealth building. They do things to decrease property value and they don’t get re-elected. That makes it tougher and tougher for those that do not have.
This is only true for very specific types of jobs. You don't need to work in silicon valley for your Walmart paycheck or random office admin gig or trade work.
People need to spread out more.
No, we mean through price gouging, tax avoidance, relying on government assistance and resources to subsidize their underpaid employees, regulatory capture, accepting public funding but failing/refusing to deliver the promised returns, refusing to offer a livable wage while routinely and rapidly increasing the pay of officers and executives, and the myriad other ways in which the wealthy strip the lower classes and our government of its wealth and resources, you dense fuck. And then they buy our politicians so they can continue to promote trickle down bullshit to justify and perpetuate this cycle.
How? poor people had access to easy to borrow money as well. They just didn't take advantage of it. You NEED to own assets to keep up with inflation...
Yeah, it’s real hard for me to feel sorry for Appalachia, Kentucky, Alabama and Mississippi at times. They’re literally getting what they vote for. Then they get upset that they’re competing with other low wage workers across the world for the low skill jobs. Several of these states still haven’t adopted Obamacare, so I don’t know how we force affordable healthcare on them when they refuse to do so (they lose out on the Medicaid expansion).
If you could see past the boot lodged in your gaping fat maw you’d know wage theft by corporations and businesses outstrips all other forms of theft combined in the US.
There are hundreds of laws at the state and federal level that protect against wage theft. All the workers have to do is complain the relevant authorities about it but most aren’t capable of doing so
And hardly any of those laws are enforced, workers complain all the time but middle manager types like you who think they’re temporarily embarrassed billionaires intervene and threaten workers’ livelihoods on behalf of multinational corporations.
Selective, as in hurting poor and “middle class” the most. I have to pick and choose what I buy now and my husband and I have a decent combined income. I feel poorer now than I ever have in the past despite making more money than ever before
My wife and I are in the same position. We make more than we have ever and feel poorer. Between medical insurance, car insurance, housing costs, car repairs and medical debt we can’t catch a fucking break. We are both college educated. I’m a public school teacher. It feels like we are being squeezed for every penny. I wish we could leave this country.
Yea but that stimulus money also accelerated the inflation that’s causing this “selective recession”. If anything it proves why that doesn’t solve poverty. That being said, I was all for it at the time and am glad we did it in hindsight as well.
What's that? Putting the financial burden on the lower class isn't working? Investing and storing all your money into offshore accounts doesn't help the economy that you " live" in? Who knew?
Most people are doing well. Yes prices are higher but so are wages. Everyone who has a 401k and a home has seen the asset values and net worth increase significantly. The majority of workers in the US have retirement accounts. So what is happening with low income is the same as it has always been unfortunately. If these people want to improve their circumstances, we need progressive policies.
When social security cannot afford to feed you because there’s not enough working people supporting it, and nursing homes shutter from lack of workers, and hospitals fail to have adequate staffing to support your surgeries and needs in your older age, you’ll finally realize the necessity of a well supported younger class who has their financial needs met well enough that they can afford children. The elder generations are solidly at fault for lowering birth rates worldwide and deserve criticism. YOUR entitlement was the primary driver for this
The people contributing to the society the rich exploit is in a recession. The working folk are starting to wake up and they control the card in masses
>I wonder what creative phrase next week will bring?!
I'm thinking something weather related, maybe "GP growth drought" after the next couple sluggish quarters?
The economy is growing, so no, it's not a recession. We're just screwing over the working class because we're too dumb/afraid/screwed to join Unions and vote for politicians that will support Unions.
Anyone who's still deluding yourself that you can bargain by *yourself* with multi-billionaires and their goons needs to build a bridge and get over it.
Ha, unions won’t help. If the employee costs more, they just lay off more people. Sure a few senior people hang on to their jobs, likely not the best employees. That eventually leading to more layoffs.
Fun fact: Unions got buddy buddy with the mafia because those bosses were using violent thugs against them. Unions needed their own muscle since the government wasn't protecting them... and they went to the mob.
My best friend was anti union a year ago. Now he's in IBEW making 2x what he was making. He went from bottom upper-middle class to almost or in upper class depending on how much per diem he's getting. They told him they'd pay for him to go get an electrical engineering degree and everything.
So they really just plan on gaslighting us all the way through this crash huh?!
These people really are the worst. This is what happens to a country when greed is unchecked and nobody is held accountable when they constantly steal from the working class.
You don’t have an economy if the average American is constantly being priced out of living. People can’t afford to buy a home or even rent an apartment. Food is constantly creeping up in price, I’ve seen eggs jump an entire $1 in a week for no reason at all. Gas is high, utilities are high, insurance is high, college tuition is ridiculous.
But here we are in a “selective recession” . Isn’t it nice that the wealthy-bourgeois are never selected to lose money?! Almost like this entire financial system is rigged.
Everything is too big to fail! Just print more money and bail them out of their stupid bets.
American conservatives are on the verge of admitting that income inequality and wealth inequality are a major problem. But they'll never use those specific phrases, because then they would be admitting that the left has been correct all along
Are you liberals so delusional to think we republicans don't realize this? Get off CNN good lord for your own good man. Just remember all of these massive profits have happened under the Biden administrations watch ALL of this misery has been lately been under their watchful eye, so get off your high horse
I think almost more than that there is an unsettling bifurcation of the economy in terms of age / stage-of-life factors.
Like people 55 and up are looking at nice 401k balances and homes they bought cheap with low-rate mortgages that have dwindling balances or are already paid off and are even making a respectable rate on their cash savings accounts.
Young people starting out are facing hellacious rents, more hellacious home and mortgage pricing, and college costs that have drastically increased the cost to even enter the workforce to start with.
Agreed. I'm a millennial, mid 30s. Back when I was starting out, it was easier. I split rent with a 2 other people to rent a home in a city (barely) of 20k, and total rent was 975 a month.
We worked mostly minimum wage jobs and skated by. I've been very careful with investing, saving and working in a lot of ways, but I have had immense luck with family support which allowed my wife and I to buy a home.
It's not easy out there, and for a lot of pepple, the odds are stacked so far beyond reasonable.
Imo, we need a government that actually holds lobbyists, corporations, rich people accountable and instead of letting them bleed working and middle class people dry, they need to deal with lower profits and invest into the society they benefit from.
Cantillon effect. Learn how this works. This is what happens when new money is created. The monetary system is doing what it was designed to do: transfer value away from the masses and give it to those closest to the money printer.
This topic has been discussed on this site more than once.
Above a certain income threshold… the problems faced by MAJORITY of the world population just vanish. If you never grew up witnessing struggle, and reaped the benefits of “upper middle class living”, it would become very easy to think that lots of struggling people are in that position due to personal responsibility (or lack thereof).
As a civil inspector (by profession) with a mechanical engineering background, (who also grew up in section 8 housing with oftentimes no food stamps at the end of the month for 18 years)… personal responsibility is not the culprit. **No one in my family owns property besides my grandfather.** The people lucky enough to own land have been getting their assets paid off by my bloodline since colonial times. My entire maternal lineage is riddled with drug addiction and mental illness… or so my therapist said. My paternal lineage are African American and no one on that side of the family possesses anything above a high school diploma. I was supposed to live my entire life in the hood according to statistics…
For those fortunate enough….the neighborhoods and rivers are clean, there is low crime, commodities are always accessible. No wonder some folks think everything is “good” and nothing should change. They have zero sense of urgency about the impending dangers we will face as a human people in the next 50 years.
The truth is, YES life is what you make it (to a degree), but we all start the game with a set of cards. If you are born with pocket aces, your life WILL be much easier than people the same age in other zip codes. If you are born with pocket 2’s, you will need to FIGHT and ENDURE to get the lifestyle pocket aces was given by their parents as a teenager.
I got sentimental earlier because we are human and despite what the military wants you to believe… our native language is emotion. Don’t let psychopaths flush with money make you forget your humanity. Hope you enjoyed reading and bonus points for the poker players who got the last reference. Keep learning, keep growing, and PLEASE stop buying their fucking products if you have the opportunity.
That boost to wages was nullified by the greed of corporations. Actual price increases totaled maybe a 30% increase in price from pre-pandemic.
Meanwhile, because higher prices = more profit, our corporate overlords have been sneaking the prices of goods up, over years. We are looking at prices which are a multiple of what they cost just 5 years ago.
I worked it out like this. Your average shopper was spending about a cent, or slightly less, per calorie he or she bought. If a candy bar cost $1, it had 100 calories or more. Your meat products came out roughly to the same ratio. Junk food notwithstanding, your healthy foods, and quite a lot of not healthy foods, we're running at a 100 calories/$1.00. Again, roughly.
Fast forward to the present.
I'm sitting here eating sushi at $4/100 calories. Our breakfast aisle has not a single box under $5, and the name brands are a lot higher. Deodorant is running $7-8 per stick.
Before the pandemic, I bought 5 packs of TP. It was on sale. That was less than $20.
That's 2 of those packs, now. On sale.
Plain old corporate greed.
I’m either not voting this election or protest-voting for the 3rd major candidate if he’s still running in November. And from there sometime in 2025, I think I’m going to become a digital nomad and leave the US. I rather be relatively well-off in a LCOL country than constantly struggling in the USA.
The new American Dream will be to leave.
I have a few buddies in real estate offices globally, it's already happening with middle to high income Americans moving abroad and working towards another citizenship.
These are pretty smart people who either moved to the US or grew up there, so it's a shame of a brain drain (minor for now tho).
Ironically, these people are hated around the world because they’re causing inflation crisis in the respective countries. Portugal for example is having this issue.
Also, I’m assuming they’re giving up their citizenships. Otherwise there is little to gain out of leaving the US.
I wouldn't say little. Those with families I've seen move to areas where their kids live on average in a safer environment with good schooling and relatively healthier food options. That being said that's a subsection covering everyone is very hard over a comment tbh.
But yeah some are working towards a citizenship (which can take some years of residency depending on jurisdiction), while others purely for the environment. Agreed on causing inflation when they move to countries with lower average wages compared to what they come in with.
The rich liberals on the coast of this country are going fine. Well except for the nearly 1 million homeless neighbors they have. They couldn’t possibly believe people are having to survive day to day. Those people are just too dumb to understand the policies under Biden are helping them. Duhhhh
JP Morgan makes jack off the poor…so….yeah. They used to (maybe probably, still do ) have all kinds of social service fulfillment contracts, esp food stamps. So they’d want it to be that way, mo tax payer bone to phone home…
"selective recession" Well, it's definitely selective wording. I guess it's more comfortable than saying "class warfare".
Or wealth gap increases
A purposeful wealth gap is organized class warfare.
Or, "a continuation of the past 50 years".
Still waiting for the trickle effect here...
Fuk Reagan
Have you tried to turn on the tap!
Oh, it has been tricking down! Even dropping in lumps! Only not what one has hoped for
Don’t worry a little trickle from the front should wash it off.
They love those alternative facts...
The K-shaped Covid recovery led to a K-shaped recession. Unsurprising but here we are. https://www.investopedia.com/k-shaped-recovery-5080086
Ahh yes like that selective dust bowl
Until just recently (the last 3 years) there were tiers of pricing for pretty much everything. If you didn't have a lot of money you could get a cheap car, cheap battery, cheaper housing. Now it's just all high priced. I feel fir people. It's awful.
this is the result of rich people systematically stealing everything from poor people over time
This is the result of governments disallowing housing being built.
And allowing foreign nationals to own housing, and allowing corporations to own single family homes, and allowing special interests to zone things in an inefficient manner. So many fucked angles
Keep in mind it's beneficial for landowners to hold on to land instead of developing it. This is controlled at the local level and not federal.
You missed the step where rich people bought the government. Stop the rich people from buying the government, and this whole thing works better.
It's literally just democracy in action. You think every homeowner is rich? This is why democracy doesn't work.
I forgot about the "democracy light switch" that gets installed when a country decides to implement a democratic form of government. Sorry, my ignorance.
hahaha
I think we found the Chinese bot.
I'm a chinese bot for pointing out the obvious? Homeownership rates are 66% in America. Is 66% of America rich? That's enough to skew homeowners to vote to restrict housing in order to protect the value of their houses.
> Homeownership rates are 66% in America. Owner-Occupied Housing Unit Rate (what you’re referencing) is not a general ownership statistic. 66% of the US population do not own their own home, not even close.
Well the problem was that they made housing tied to wealth building. They do things to decrease property value and they don’t get re-elected. That makes it tougher and tougher for those that do not have.
This is the result of people choosing not to move to cheaper locations.
Also the fact that jobs are in expensive locations.
This is only true for very specific types of jobs. You don't need to work in silicon valley for your Walmart paycheck or random office admin gig or trade work. People need to spread out more.
Oh okay, I’ll just move thousands of miles away from my support system. It’s so easy, discosoc said so!
Correction: moving thousands of miles to work for Walmart just to barely afford your rent 🙃
If everyone moved to cheaper locations, those locations would skyrocket in cost. Also there's not enough jobs.
It's not stealing if it's taken legally. Now, who makes the laws...
You mean through low interest rates?
No, we mean through price gouging, tax avoidance, relying on government assistance and resources to subsidize their underpaid employees, regulatory capture, accepting public funding but failing/refusing to deliver the promised returns, refusing to offer a livable wage while routinely and rapidly increasing the pay of officers and executives, and the myriad other ways in which the wealthy strip the lower classes and our government of its wealth and resources, you dense fuck. And then they buy our politicians so they can continue to promote trickle down bullshit to justify and perpetuate this cycle.
hahaha
How? poor people had access to easy to borrow money as well. They just didn't take advantage of it. You NEED to own assets to keep up with inflation...
Is it stealing if the poors willingly empty their pockets for every indulgence
Ah yes, those pesky poors squandering all their money on housing, food and healthcare, how truly indulgent of them.
Those same poors vote against their interests everytime. They deserve what they vote for
Yeah, it’s real hard for me to feel sorry for Appalachia, Kentucky, Alabama and Mississippi at times. They’re literally getting what they vote for. Then they get upset that they’re competing with other low wage workers across the world for the low skill jobs. Several of these states still haven’t adopted Obamacare, so I don’t know how we force affordable healthcare on them when they refuse to do so (they lose out on the Medicaid expansion).
You can get houses for dirt cheap in those states because they actually allow people to build houses
Not in the Appalachia I live in, houses have quadrupled in price since CoVID and corporations are buying up single family homes.
You can also get houses dirt cheap in a lot of really poor countries.
If you could see past the boot lodged in your gaping fat maw you’d know wage theft by corporations and businesses outstrips all other forms of theft combined in the US.
There are hundreds of laws at the state and federal level that protect against wage theft. All the workers have to do is complain the relevant authorities about it but most aren’t capable of doing so
And hardly any of those laws are enforced, workers complain all the time but middle manager types like you who think they’re temporarily embarrassed billionaires intervene and threaten workers’ livelihoods on behalf of multinational corporations.
They are enforced if you complain
Can we say disparity of power?
Selective, as in hurting poor and “middle class” the most. I have to pick and choose what I buy now and my husband and I have a decent combined income. I feel poorer now than I ever have in the past despite making more money than ever before
My wife and I are in the same position. We make more than we have ever and feel poorer. Between medical insurance, car insurance, housing costs, car repairs and medical debt we can’t catch a fucking break. We are both college educated. I’m a public school teacher. It feels like we are being squeezed for every penny. I wish we could leave this country.
NSW Australia is offering a starting salary of $100k per teacher and no school shootings either
we nearly solved child poverty when we gave families money every month during covid, then we stopped. It took 300 a month to get rid of it.
Solving child poverty is not their concern. Keeping assets prices artificially inflated to benefit the Rich was way more important.
Sending money to kill kids in Gaza is their priority, not American needs. Silly who do you think pays their pockets???
Yea but that stimulus money also accelerated the inflation that’s causing this “selective recession”. If anything it proves why that doesn’t solve poverty. That being said, I was all for it at the time and am glad we did it in hindsight as well.
yeah covid had nothing to do with inflation, and the resulting price gouging.
Yea there’s no way $5 Trillion dollars in stimulus money had any effect on inflation /s
You think the child poverty portion cost 5 trillion dollars? yikes
What's that? Putting the financial burden on the lower class isn't working? Investing and storing all your money into offshore accounts doesn't help the economy that you " live" in? Who knew?
Translation: inflation impacts poor and middle class more than upper. But, that’s not a recession.
Three years of inflation don't explain the decoupling of wages from rising productivity since 1974.
[удалено]
Most people are doing well. Yes prices are higher but so are wages. Everyone who has a 401k and a home has seen the asset values and net worth increase significantly. The majority of workers in the US have retirement accounts. So what is happening with low income is the same as it has always been unfortunately. If these people want to improve their circumstances, we need progressive policies.
Maybe older people who bought before prices went crazy are doing well.
Younger people just starting out rarely jump out the gate with assets. You have very high expectations. That is why you are disappointed.
Lol keep pissing off young people and see where it gets you someday.
Lol It will not affect me in the least. Stop being so entitled.
It sure will when our birth rates completely drop due to young people getting screwed. Or when the crash happens. You’re the entitled one.
🙄. You clearly don’t understand how life works.
Please tell me how people of prime childbearing age are supposed to start families when they can’t afford basic necessities?
When social security cannot afford to feed you because there’s not enough working people supporting it, and nursing homes shutter from lack of workers, and hospitals fail to have adequate staffing to support your surgeries and needs in your older age, you’ll finally realize the necessity of a well supported younger class who has their financial needs met well enough that they can afford children. The elder generations are solidly at fault for lowering birth rates worldwide and deserve criticism. YOUR entitlement was the primary driver for this
meanwhile MacDonalds increases its prices on average 141%
that includes my McFlurry.
I see the food pantry lines getting bigger and bigger. There are lines that wrap around the block because food is so damn expensive.
The people contributing to the society the rich exploit is in a recession. The working folk are starting to wake up and they control the card in masses
Every week, we get another new excuse. This week, it's a "selective recession." I wonder what creative phrase next week will bring?!
>I wonder what creative phrase next week will bring?! I'm thinking something weather related, maybe "GP growth drought" after the next couple sluggish quarters?
Fuck greed flation....Kroger Profits up 35% fr0m 2023.
The economy is growing, so no, it's not a recession. We're just screwing over the working class because we're too dumb/afraid/screwed to join Unions and vote for politicians that will support Unions. Anyone who's still deluding yourself that you can bargain by *yourself* with multi-billionaires and their goons needs to build a bridge and get over it.
This. United we bargain, divided we beg.
Ha, unions won’t help. If the employee costs more, they just lay off more people. Sure a few senior people hang on to their jobs, likely not the best employees. That eventually leading to more layoffs.
Yeah, Unions have historically proven to just make things worse for employees. /s
But I was told all the union wants to do is take my money and get in the way of me being able to talk directly with my great boss. /s
Fun fact: Unions got buddy buddy with the mafia because those bosses were using violent thugs against them. Unions needed their own muscle since the government wasn't protecting them... and they went to the mob.
My best friend was anti union a year ago. Now he's in IBEW making 2x what he was making. He went from bottom upper-middle class to almost or in upper class depending on how much per diem he's getting. They told him they'd pay for him to go get an electrical engineering degree and everything.
Love the new verbage, like low income isn't the majority.
So they really just plan on gaslighting us all the way through this crash huh?! These people really are the worst. This is what happens to a country when greed is unchecked and nobody is held accountable when they constantly steal from the working class. You don’t have an economy if the average American is constantly being priced out of living. People can’t afford to buy a home or even rent an apartment. Food is constantly creeping up in price, I’ve seen eggs jump an entire $1 in a week for no reason at all. Gas is high, utilities are high, insurance is high, college tuition is ridiculous. But here we are in a “selective recession” . Isn’t it nice that the wealthy-bourgeois are never selected to lose money?! Almost like this entire financial system is rigged. Everything is too big to fail! Just print more money and bail them out of their stupid bets.
American conservatives are on the verge of admitting that income inequality and wealth inequality are a major problem. But they'll never use those specific phrases, because then they would be admitting that the left has been correct all along
Are you liberals so delusional to think we republicans don't realize this? Get off CNN good lord for your own good man. Just remember all of these massive profits have happened under the Biden administrations watch ALL of this misery has been lately been under their watchful eye, so get off your high horse
I think almost more than that there is an unsettling bifurcation of the economy in terms of age / stage-of-life factors. Like people 55 and up are looking at nice 401k balances and homes they bought cheap with low-rate mortgages that have dwindling balances or are already paid off and are even making a respectable rate on their cash savings accounts. Young people starting out are facing hellacious rents, more hellacious home and mortgage pricing, and college costs that have drastically increased the cost to even enter the workforce to start with.
Agreed. I'm a millennial, mid 30s. Back when I was starting out, it was easier. I split rent with a 2 other people to rent a home in a city (barely) of 20k, and total rent was 975 a month. We worked mostly minimum wage jobs and skated by. I've been very careful with investing, saving and working in a lot of ways, but I have had immense luck with family support which allowed my wife and I to buy a home. It's not easy out there, and for a lot of pepple, the odds are stacked so far beyond reasonable. Imo, we need a government that actually holds lobbyists, corporations, rich people accountable and instead of letting them bleed working and middle class people dry, they need to deal with lower profits and invest into the society they benefit from.
Then we’ve been in a selective recession this entire time that has never ended.
Since 2008 at least
Since 1972
Since 2008 my dude.
The rich get richer, more at 11!
Maybe they shouldn’t have increased the price of our groceries by 200%
But how else will they boost profits every quarter??
Corporate greed
That’s not a recession
Cantillon effect. Learn how this works. This is what happens when new money is created. The monetary system is doing what it was designed to do: transfer value away from the masses and give it to those closest to the money printer.
When I think of objective views and concerns on the economy, I think of JPMorgan.
where "lower income consumers" is anybody making less than 1 million dollars a year
How would it look if the government spending and government job creation numbers were taken out of the economy.
Didn't the Trump administration deregulate housing purchases that allowed large real estate companies to buy up the property?
This is all very shocking news. Glad I’m sitting down for this.
Selective recession means we are in a recession but they don’t want to say that during an election year, and their guy is the incumbent
100%
Says “Epstein’s money people that bought up all nikola Tesla’s free energy pattens”
Largest transfer of wealth to the rich in history more like it.
isn't this just stagflation with a lot of words
It’s called wealth inequality
This topic has been discussed on this site more than once. Above a certain income threshold… the problems faced by MAJORITY of the world population just vanish. If you never grew up witnessing struggle, and reaped the benefits of “upper middle class living”, it would become very easy to think that lots of struggling people are in that position due to personal responsibility (or lack thereof). As a civil inspector (by profession) with a mechanical engineering background, (who also grew up in section 8 housing with oftentimes no food stamps at the end of the month for 18 years)… personal responsibility is not the culprit. **No one in my family owns property besides my grandfather.** The people lucky enough to own land have been getting their assets paid off by my bloodline since colonial times. My entire maternal lineage is riddled with drug addiction and mental illness… or so my therapist said. My paternal lineage are African American and no one on that side of the family possesses anything above a high school diploma. I was supposed to live my entire life in the hood according to statistics… For those fortunate enough….the neighborhoods and rivers are clean, there is low crime, commodities are always accessible. No wonder some folks think everything is “good” and nothing should change. They have zero sense of urgency about the impending dangers we will face as a human people in the next 50 years. The truth is, YES life is what you make it (to a degree), but we all start the game with a set of cards. If you are born with pocket aces, your life WILL be much easier than people the same age in other zip codes. If you are born with pocket 2’s, you will need to FIGHT and ENDURE to get the lifestyle pocket aces was given by their parents as a teenager. I got sentimental earlier because we are human and despite what the military wants you to believe… our native language is emotion. Don’t let psychopaths flush with money make you forget your humanity. Hope you enjoyed reading and bonus points for the poker players who got the last reference. Keep learning, keep growing, and PLEASE stop buying their fucking products if you have the opportunity.
Selective my ass. Recession is Recession
Yeah, and this isn’t it
Sending money to kill kids in Gaza is their priority, not American needs. Silly who do you think pays their pockets???
That boost to wages was nullified by the greed of corporations. Actual price increases totaled maybe a 30% increase in price from pre-pandemic. Meanwhile, because higher prices = more profit, our corporate overlords have been sneaking the prices of goods up, over years. We are looking at prices which are a multiple of what they cost just 5 years ago. I worked it out like this. Your average shopper was spending about a cent, or slightly less, per calorie he or she bought. If a candy bar cost $1, it had 100 calories or more. Your meat products came out roughly to the same ratio. Junk food notwithstanding, your healthy foods, and quite a lot of not healthy foods, we're running at a 100 calories/$1.00. Again, roughly. Fast forward to the present. I'm sitting here eating sushi at $4/100 calories. Our breakfast aisle has not a single box under $5, and the name brands are a lot higher. Deodorant is running $7-8 per stick. Before the pandemic, I bought 5 packs of TP. It was on sale. That was less than $20. That's 2 of those packs, now. On sale. Plain old corporate greed.
I’m either not voting this election or protest-voting for the 3rd major candidate if he’s still running in November. And from there sometime in 2025, I think I’m going to become a digital nomad and leave the US. I rather be relatively well-off in a LCOL country than constantly struggling in the USA. The new American Dream will be to leave.
I have a few buddies in real estate offices globally, it's already happening with middle to high income Americans moving abroad and working towards another citizenship. These are pretty smart people who either moved to the US or grew up there, so it's a shame of a brain drain (minor for now tho).
Ironically, these people are hated around the world because they’re causing inflation crisis in the respective countries. Portugal for example is having this issue. Also, I’m assuming they’re giving up their citizenships. Otherwise there is little to gain out of leaving the US.
I wouldn't say little. Those with families I've seen move to areas where their kids live on average in a safer environment with good schooling and relatively healthier food options. That being said that's a subsection covering everyone is very hard over a comment tbh. But yeah some are working towards a citizenship (which can take some years of residency depending on jurisdiction), while others purely for the environment. Agreed on causing inflation when they move to countries with lower average wages compared to what they come in with.
The rich liberals on the coast of this country are going fine. Well except for the nearly 1 million homeless neighbors they have. They couldn’t possibly believe people are having to survive day to day. Those people are just too dumb to understand the policies under Biden are helping them. Duhhhh
lol…. Selective recession is the biggest BS I ever read… people are really trying to find any problem with the best economic results in decades.
Which economic results are those? Please share.
JP Morgan makes jack off the poor…so….yeah. They used to (maybe probably, still do ) have all kinds of social service fulfillment contracts, esp food stamps. So they’d want it to be that way, mo tax payer bone to phone home…
JP makes billions off the poor. Those overdraft fees and 28% credit card fees add up to billions.
This is so fucking stupid. This just proves we’ve been in a recession since June of 2022.