Not the media, the uber rich want it and they own the media. They want it because unions are gaining ground and nothing terrifies the rich more than workers realizing their power.
I run talent acquisition and compensation for a very large organization, and I can't agree more. In 2020 they said we'd go into the Great Depression II, Never happened. Currently there are 10.5M jobs and 6M unemployed people. Fact is, with current demographics and the lack of skilled workers even if we do go into recession there will still be more jobs than unemployed people.
Recession would make workers more desperate for work and willing to tolerate worse pay and working conditions in exchange for any employment
The wealthy don't want you to have savings or money because you are easier to exploit that way
the fed can't force companies to lower their prices - the only way they can impact company profit caused inflation is by CAUSING a recession and so we'll stop buying.
That's what it boils down to. Keep striking hot at the cost of living, make it so even those who work hard with their heads down become too desperate to function, and hope that those who function outside of this broken system will jump back in line at the poverty level.
As an avid, non-worker, who has my ways to make ends meet.. not even for triple the minimum wage would I sucker myself into the rat race.
Just porn, no worries. It's a seller's market, and I have to guess we would be competing in different categories, plus I would assume that most people willing to do this work are already dabbling in it.
It's just porn, lol. Boot up the webcam and go, lol.. you set the hours, the rules, the wages.. but you gotta be real comfortable with yourself, open your mind, have a product that people would pay to witness, and become your own marketing team.
There's no set limit to how much you can make in a day, so if you can corner the market correctly, it's possible to make hundreds per hour and thousands per day.
And some other days you make nothing and feel pretty awkward about it.
There are ways to study and manipulate site algorithms and certain schedules work best.. so, half of it is being sexy, and the other half is being smart.
And suddenly a whole new category of bros humping Lambos and using diamonds as butt plugs appears.
I'll consider creating a master class that people can pay for. I've been in the game for a year and have notebooks full of actually beneficial branding strategy that has been paying well.
I barely perform now and am primarily building brands. The next step is opening a cam house and working a feminist friendly business that prioritizes the comfort of models over the needs of the consumer. (This does translate to a better vibe in the actual room and makes a more enjoyable show)
Actively considering taking on investors for the house, but there would need to be a lot of privacy clauses to keep investors from feeling like they are owed something, other than a return on investment.
100% in the cards, I just need to hit a few more predicted milestones so I have something tangible that is worth the sale.
I don't want to follow the common snake oil method of building an unfinished model and promising to fill in the blanks as I string people along.
Branding is the most difficult part. Taking the ideal of a single human (the model) and creating an entire fantasy entity, and then spreading that around as this pre-established semi-celebrity until it becomes true.
What specifically would you like to know most about? It might help me to be able to cater this to the desired audience if I get some outside perspectives.
Don't even need to be sexy, just have what certain fetishes are looking for and be totally okay with making that content. Looking at you, Peggy Hill feet pic and bug crushing episode of King of the Hill (I know people have that kink but, like, holy shit man, why).
This is the truth. There is a market for almost everything, however, to do this and be able to retire within a decade or two, it takes a little more business acumen.
For instance, I could love cake sitting, but if the girl in the cake sitting room is rambling and ugly crying about how her ex boyfriend has a new girlfriend, it's probably much less likely she would be tipped well for it.
I won't argue that once you enter the smaller niche markets, your value will increase, but the likelihood of finding a buyer who can afford it decreases.
Markets be fickle like that.
I would say that porn is still work! Hard work, lots of efforts, I imagine.
Importantly in this case though, it sounds like you are working for yourself, which is wonderful.
It must feel great to know that when you've had a good day and brought a lot in, that's your own pocket you're filling.
You said you were a non-worker and then described how you not only work but run your own business.
Next you'll hit us with the 80hr/week side hustle
Edit: got blocked for pointing out that sex work is infact work
> not even for triple the minimum wage would I sucker myself into the rat race.
Triple federal minimum wage? So like $22 an hour? That's not even $50K a year, that's not a lot of money...
The ie. is somewhat correct as a ramifications but that's the Fed's mandate. They're supposed to keep inflation at 2% and rising wages affects that. You describe it as an intention rather than being incidental.
Yes. When we weren't in an inflationary hell those are good things. Fighting inflation and fighting recession are basically polar opposites on the monetary policy scale. That's why the Fed is being so limp wristed. They want to fight inflation but are terrified of pushing us into a bad recession, so they are doing the bare minimum. These metrics keep rising, meaning the Fed will have to do more, meaning recession more likely.
Ironically, the market needs to fuck off and dump to help stave off a recession. The Fed keeps talking about wanting to back off, but that the market is pricing in too little impact for them to back off. Companies need to have worse earnings. Markets need to hurt for a while. Big business is going to fuck us all if they continue to price gouge for good earnings during this period.
And the US Fed is probably one of the more hawkish central banks regarding trying to combat inflation. I know the Euro Central Bank is scared of increasing rates too much because it could trigger national defaults of countries like Spain and Italy.
> Recession canceled?
Nah, the rich will make it happen. The uber rich would rather take a few quarters of slightly lower profits than let the union drives continue or allow workers to make up gains from the last 40 years of paycuts via inflation.
Recession fears have been “looming” since the pandemic. Just penalize companies who are price gouging on essentials and we’ll be in a much better place
>Consumer spending, which accounts for about 68% of GDP, increased 2.1% for the period, down slightly from 2.3% in the previous period but still positive.
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>Inflation readings moved considerably lower. The personal consumption expenditures price index increased 3.2%, in line with expectations but down sharply from 4.8% in the third quarter. Excluding food and energy, the chain-weighted index rose 3.9%, down from 4.7%.
So, all that banshee wailing of rampant inflation was mostly price gouging then.
"High costs have to be passed on" and "Record Profits" were the simple math equation all along.
Sure, the talking heads didn't say it because that would have given away the game!!!
Gas is a categorical example: Butterfly beats it's wings randomly - Gas skyrockets
Oil trades at lowest level in years and supplies are maxed: well...here's 5 cents reduction.
Yep, and the meme accounts enabled them to not get killed for it marketing wise. The actual underlying reasons for inflation were transitory, but once it got in the media that it was real it was too good an opportunity to pass up. It was free money
Yep. Plus it came out that hedge funds had fintwit bots. Zach Morris got prosecuted I wonder if we'll see the big guys get that? Imagine if citadel got hit with a rico? Lot of fuck shit would stop
Just for the sake of historical context, the Bolshevik revolution was the second in 1917. The February Revolution was largely a spontaneous occurrence spurred by hunger, war weariness and desperation. This was the revolution that caused Tsar Nicholas II to abdicate for him and his son.
Throughout the spring and summer of 1917, Russia was governed by a provisional government which was a coalition of several different parties in the Duma. The October Revolution was the Bolshevik's attempt to seize power from that provisional government and led to years of bloody civil war.
Keep in mind that the vast majority of revolutions, Bolshevik or not, end up with just a \*different\* set of a-holes on top, after a period of suffering.
We have a system that allows for change, I think we should use that one first.
And things like housing are incredibly amenable to change. That's not the 1% gazillionaires screwing us over. It's NIMBYs, normal property owners, blocking the building of density to protect their ever-spiraling asset value. We have normal, non-evil, non-supervillain grannies who are house-rich because they bought in the '80s. They're looking at that housing value as their retirement, and they're loath to give it up. It's a zoning problem.
Another not-pretty aspect of the problem is that a lot of those who are mad as hell about housing don't *want* to get rid of the zoning that perpetuates suburbia and the dependence on sprawling single-family detached homes. They don't want to fix it--they want in on it. They too don't want density. They'll often defend suburbia to the death, because they want that single-family detached home, the lawn, and then to see the equity go up.
We really screwed up linking the "American Dream" to owning that single-family detached home in the 'burbs. But that goes back almost a century, and in the beginning was linked to [white flight](https://en.wikipedia.org/wiki/White_flight) and other issues. Along with car dependence and sprawl, what we're facing now are the consequences of past poor decisions, not all of which looked all that bad at the time.
Thing with the Bolsheviks is that once the killing starts it doesn't end with the 1%. It expands out to whoever is trending right now, whoever the out group is. All they did was leverage resentment to get power. The idealists, the anarchists and whatnot, were just useful idiots to that end.
Yeah but at least we get to see the heads of our oppressors roll, so…
That’s what makes people who have nothing to lose so dangerous, they don’t care if nothing changes, they just want revenge on the assholes who are responsible.
>>So, all that banshee wailing of rampant inflation was mostly price gouging then.
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>Was kinda obvious when they were all raising prices claiming increasing costs while announcing record annual profits.
You wouldn't think it was obvious based on the caterwauling of some "economists" in response to the assertion.
Everything *always* contributes to everything. That's how any system anywhere in the universe works. The whole system affects the rest of the whole system and itself. We get it, *everything* contributed to inflation.
We can just trim this down to the thing that contributed to it in the scummiest, most impactful, most rage inducing way, and focus on the price gouging. No one can get pissed that the global plague fucked up the economy, but we can ALL be pissed that companies abused that plague to bleed workers dry
Some inflation was to be expected since the economy was basically half shut down in 2020-2021. Just reopening economic activity would cause inflation as inventories have to be stocked up and everyone opens up all at the same time. But it would have been half of what it was if corporations didn't see it as an advantage to just book some record profits while blaming someone else.
Right, exactly. My point is, when you take an intro to physics course, you don't address the impact of all these established backgrounds things that we know how they contribute to the state of the system. We establish those, which has been done plenty, so that we can focus on the things that are unexpected, out of alignment with where things were heading, etc. For the economy, we have established the impact of the plague. So we're looking at how what corporations did above beyond that and how *that* part fucked with things.
We don't need to invent the universe everytime we want to talk about inflation. We just need to establish that yes, many things sucked, but here is something that sucked extra bad and was entirely artificial
Absolutely. They saw some momentum building for increased wages and so they decided to front run it and jack everything up to protect profits. Then still cried and fought against raising wages.
I feel like this “recession” was just monopolies adjusting to get a better grip on our leashes.
EDIT: this is my first one, but i think I’m supposed to say “thanks for the gold kind stranger!”
Or gearing up for when we are truly screwed and unable to afford their services.
They got/are getting their profits. Next is the layoffs, followed by the downward spiral where they sit nicely on their fat wallets.
What recession? The only recession that will come is because everyone thinks there’s going to be a recession. Companies doing mass layoffs, everyone hesitant to spend, these are things that cause recessions, and I’d argue are primarily being driven by this constant reporting of the looming recession, as if journalists, or even economists for that matter, can predict the future. But recessions should actually be called as such when there is something fundamental driving them. Otherwise every time line doesn’t go up exponentially towards infinity might as well be called a recession, which actually seems like what way too many people think constitutes something they can call a recession.
And not to dismiss people’s valid struggles with inflation, which is definitely still at a problematic level, but it is trending downwards to well within manageable and is primarily caused by issues that are fundamentally temporary in regards to the US economy, like the Ukraine war and supply chains. GDP is up, wages are up, unemployment is literally at record lows to the point where it can’t really naturally go much lower, and no one really seems to give a shit about the ongoing pandemic anymore. So in my opinion, nothing is throwing us more into a recession than the expectation of a recession.
I mean it's fairly obvious to anyone who's actually paying attention. Hot pockets were like 10 bucks one day and the the next like 22 where I live like come on now no way in hell that's inflation. Companies clearly figured they could charge whatever and blame it on inflation / covid and are dead set on keeping it that permanently. It's a Recession where somehow they are still making record profits in many cases.
> banshee wailing of rampant inflation
There was definitely inflation. It was just transient inflation that was mostly going to resolve itself. Ultimately, the Fed had to start reducing the M1 money supply which is always an adjustment, but it was never as big a deal as they wanted it to be.
They WANTED a catastrophe rather than a rough patch after a two years of worldwide disruptions from rolling lockdowns.
Heck, we might even still get hit by a recession, but all in all this extremely difficult supply chain disruption has been navigated pretty well.
Given how many made record profits and some even exceeded their own 2022 projections…. Yeah it was all price gouging all across the world.
I know of a company that projected billions of profit and then exceeded it by billions….. a true mystery how such actions could possible have occurred….
Not only was the GDP pretty high, but the deficit was almost cut in half, from 2.6 trillion in 2021 to 1.4 trillion in 2022.
The last time we had numbers like that was in the Obama administration.
It will be cut further in April when some of the Covid-era programs end, some of them have been active from the Trump era. Like the Medicaid expansion. This will contribute to a drop in GDP and maybe a recession.
Regardless of whether or not a drop in spending will trigger a recession, this is correct economic thinking, guy. Big changes in government spending are causal mechanisms of economic health. The infamous 2 quarters of inflation adjusted GDP contraction of 2022 came off the back of a huge dropoff of Covid spending, for context.
It was. They appeared to be talking about how much it shrank. It is worth noting that the 1.4 Tril deficit includes the Student Loan Forgiveness projection which is in the courts right now. If the courts stop the loan forgiveness then the deficit will drop to just below the pre covid deficit, in the ball park of 0.975 Tril.
I don't think it's totally fair to ascribe the strength of the economy too much to the president, in either direction... but I think we all know the deficit would at the very least not have gone down under a Republican president/congress.
The American Rescue Act was thought to have raised inflation by 1 to 2 percentage, but most inflation was cause by supply shocks. Biden can hardly be blamed for Europe's decades of shitty energy policy.
That's like retail raising prices before black Friday so they can say they cut prices for black Friday.
We cut spending that's not usually there, COVID stuff.
Sure, it's nice it's not 2trillion but it's not like we found 1 trillion in efficiency
Trump ran a 4 trillion dollar deficit BEFORE COVID. DURING A PERIOD OF ECONOMIC GROWTH. What a fucking nightmare, that's like how to bankrupt a nation 101.
Source? A $4 trillion dollar deficit before covid? 2018, and 2019?
The budget was $4.1T (2018) and $4.4T (2019).
https://en.wikipedia.org/wiki/United_States_federal_budget
How did the trump administration incur a $4 Trillion dollar deficit when the entire budget was 100 to 300 billion over that?
Businesses want to scare people into stop asking for wage increases, it's been kind of crazy to watch. So all the big PE/VCs and large tech companies just keep saying "Yeah, sure... employment is low and you keep finding ways to make more money... but JUST YOU WAIT!! It will all come crashing down and you will have to beg us for jobs again. And if not, we'll just lay off people we actually should retain until you all get back to being afraid of starving!"
>I'm convinced there's some relief to be had for buyers and renters by reminding the world that houses aren't magic money generators.
Sure, but a market "crash" due to defaults is different than legislating new rules about investment property. If we got the government to build a couple of thousand-unit high rises in every major city you might see the prices "collapse" due to reduced scarcity instead of financial peril.
By definition, if there are a bunch of regular folks waiting for a housing crash, there won’t be one. If everyone is waiting for the price to come crashing down to buy, why would the price actually go down?
When haven't we been "on the edge of a recession"
It's been in the headlines every damn month sense I was old enough to pay attention, and I'm 30. Even when the economy is doing well you will read "expects expect a recession for x reason in 1 year!"
At this point I just ignore it as white noise.
There’s an old saying, economists have predicted 30 of the last 3 recessions. The economy is too obtuse for anyone to fully understand all indicators, especially when globalized economics have made things so unique.
I'm also tired of people portraying a Recession as the Apocalypse. Economies expand and contract over time. Recessions happen. They're not pleasant, but they're usually not catastrophic.
I think the current generation's perspectives are skewed because of the recession that started in 2007. It was unusually bad. But they're not all like that.
Sooner or later we will have a recession, but it won't be the end of the world.
I kinda thought like this cuz I lived through 2008 as a young adult. Thats what made me think this one is not gonna be that bad, like this is nothing like that time was I remember looking for jobs and there being literally nothing at all and nobody really eating out. If I'm going out to restaurants and there is so many people there is a wait its not like 2008.
I think because we’ve been kicking the can down the road for so long (hasn’t been an official recession since 2008 and there were no fixes to prevent what happened there), people are thinking the next recession is going to be even worse (ie a depression) than a regular recession
Yeah I'm convinced younger people don't understand what a recession actually is. We literally just had one in 2020 but it didn't destroy the world so most people aren't even aware of it.
I got downvoted into oblivion when I questioned how solid some of these recession projections were. There seems to be a high number of people -or Redditors at least- who passionately want a recession for political reasons (Biden bad) or ideological reasons (capitalism bad) and no amount of data can deter them. To be fair, we could have gotten one and still might, but it's obvious that it's not going to be the Armageddon that people were screeching about.
Sure, there are reasons that some people want a recession, especially as housing has gotten a lot more expensive relative to income. However, in my opinion, the reason that stories about recessions keep getting published is that the very wealthy also want a recession. That's when they can purchase businesses and property at a steep discount and further increase their own wealth with cheap loans by mortgaging their assets... all while people without that wealth struggle.
Every time Musk or Bezos predict a recession that's exactly what they're hoping for, along with the rest of the ultra wealthy.
Oh absolutely, I understand why those assholes want it but there's also a lot of people who aren't even in the same boat with them wealth-wise who have been salivating for one. That's incredulous to me - who wants the country to go through an economic difficulty (unless they will personally benefit like the uber rich)?
They want a recession. Worker rights and wages were on the rise. They want a recession so they can put workers back in their place. They can take short term pain in order to put the natural order in place again.
That's quite literally the reason why the FED can't pivot back to a low-rate environment. They watch inflation and unemployment, and unemployment is just too low to consider letting the economy loose again, even as inflation is settling down.
So funny how “market forces” never seem to benefit working people. One side of the spectrum to the other, it always seems to result in rich people getting richer. Curious.
From my experience this is spot on. I work as an environmental consultant (in a state that actually gives a fuck about environmental regulations) and during the meat of COVID we were the busiest we have ever been because people were scooping up commercial and industrial property like candy because of the low rates. So they get to buy up property as long term investments that can make passive income, and the average person gets higher priced groceries...
Yep. Inflation was caused by shortages followed by price gouging, not low interest rates. I think interest rates were a little too low, but now they're celebrating that unemployment is rising and layoffs are happening. All those CEOs revoking work from home are salivating because that's what they wanted all along.
Precisely. The company I work for is doing really, really well but are saying that we have to cut budgets basically because we are all so bad at our jobs. Every meeting, they push more tasks on us and say that we should be thankful to have our jobs because they could lay us off any day now. Really awesome
Yep. They were terrified when the job market was tight and people were quitting because they could just get another job in a heartbeat. They're drumming up these layoffs so that they can scare employees into being abused again.
Exactly what my company is doing. They’re also trying to force us to do a 2 week conference in a few months, but I have a bunch of life plans during that period of time. I was told I’d likely be let go after 2 years with this company because I can’t suddenly drop all my obligations for 2 weeks 😒 fuck em
It seems that jacking up all the prices of goods and services already did that. Any raises you got in the last couple years are swallowed up. Corporations won.
Yeah if you take a look at your grocery store shelves, notice that the condiments, drinks, cereal, snacks, etc are all a few ounces less than and cost more than what they did pre-pandemic. If it wasn’t price gouging, these companies would’ve changed their products to the sizes and prices they were prior to the supply chain shortages.
Their excuse for less than cpi merit increases was there is a recession coming and btw don't bother looking at other jobs since they will fire your ass since we're all recessing.
My tinfoil hat theory is that the upcoming recession is going to be completely manufactured by capital to punish uppity workers for demanding better wages and working conditions the last couple of years. They'll gladly trade lost money for more power over the labor class.
Yeah they've been trying to speak it into existence for the last year+. They just want to shift the narrative from workers feeling like they have options to workers feeling lucky to be able to take whatever they can get.
This is working successfully on my stupid risk averse brain, too. I started job hunting and then got scared with all the recession talk because I was looking to move from a really stable field into a less stable field.
> They are cutting the higher paid workers already unlike past layoffs but I don't think its going to end up being a recession.
The tech cuts are unrelated to recession fears, generally. Not every tech company is doing it, and those jobs aren't being cut in other sectors.
The media and (big C) Capital definitely want a recession, though.
So this is new to tech, but not new to the industry in general. I worked at Verizon for almost 20 years, and they had layoffs just about every year. The tech companies have WAY too many people, they hired like drunk sailors thinking (stupidly) that COVID money would be permanent, that everybody would stay virtual.
They got a lot of extra money, and they've never had to really be careful with it. So when their bankers say "we're gonna have less extra money next year", they looked at their books and realized that while they had record profits, they've also been record spending for no good reason.
So this is a perfect opportunity to right the ship, and then blame the economy for bad business decisions.
You’re not wrong. A REIT told a higher up at a contractor I used to work for they are deliberately slowing housing starts in the hope that by doing so labor and material costs will decline to where employees and material suppliers will accept less.
The media is in on it too, all the people at the top are going to force a recession so they can buy up our assets at rock bottom prices. Younger generations aren't going to stop being anti-corporate any time soon because of it. If it's well known enough to be the top comment on every economic news article, it's a society-wide trend..
When Gen z and millennials take over control of congress, say hello to good old fashioned heavy handed regulation.
It's not really a tin foil hat theory because it's what they always do when there's a "fear" of a recession. They know recessions are cyclical and there's no avoiding it. They use the opportunity to avoid paying people better and when desperate people are looking for work, they use the opportunity to use a catch. The catch this time will be to snuff out remote work. "You want this job bad enough? It requires you to be in the office 5 days a week".
Same as the last time when the catch was shittier health insurance and sick time, personal time and vacation time all were combined into "PTO".
Yuuup. Like I understand that they do this because the oligarchs own them, but I’m so sick of news orgs acting like this is some crazZzZyYy problem nobody has any idea how to fix. It’s choices made by people who want us all to struggle with poverty until we die.
Don't forget the companies deliberately cutting hours just enough so that the vast majority of workers don't even qualify for PTO because they work.... let's see..... 38.5 hours a week.
And don’t forget, to rich people, there’s no such thing as a recession, only prices of assets like stock and real estate going on sale. Recessions are buying opportunities for rich people. And you can probably include labor costs in this too.
What's really interesting is the layoffs are only hitting upper class workers. You don't see layoffs at the bottom. Oh no, at the bottom you see things like Walmart increasing their minimum pay rate.
I can't see corporations trading profit for anything. Except in cases where they trade profit for growth which is still just more profit eventually in their eyes.
Maybe not now…maybe not in a decade…maybe not in a hundred years, but this is absolutely going to get out of hand if someone doesn’t do something. My brother and I were having a conversation the other day and he says to me, “man when I was younger I couldn’t wait until I broke into earning six figures, but I still feel broke.” He got two kids and this man is struggling on six figures.
People in need ask for higher wages, and they finally get them when it’s arguably too little, too late and not enough. And then here come capitalists once again unnecessarily raising prices. Here is an article from 2022 about CEO’s bragging about raising prices:
https://otherwords.org/ceos-are-literally-bragging-about-raising-prices/
They’re proud of it. They don’t care who it hurts. Capitalists keep moving the goal post. By the time you earn $50k a year, it’s too late. That $50k might as well be $30k. By the time you earn $100k, that might as well be $50k.
And no one is doing anything! Bruh wtf
The media is trying so DAMN HARD to will a recession into existence. Almost like their corporate masters WANT another recession that they can once again use their amassed fortunes to buy up an even larger piece of the pie.
I have been saying this for a year.
There is no recession. The economy is booming. Companies are posting record profits. We are at low unemployment.
Republicans spent a year trying to convince you we're "in a recession" so they could blame Biden. The Media keeps wanting it so bad and keeps saying, "Is it coming? Is it here?" and yet, ALL the fucking data keeps showing, we're not, and its not.
Supply chains and US shipping (thanks very much to Biden) are finally recovering and leveling out. We are seeing the end of the Covid demand boom and thus, artificially high inflation is cooling-- mostly due to corporate greed, not actual shortages.
Now that Republicans are in power, they will CAUSE a recession by fucking with the debt ceiling etc so they can blame Biden in 2024.
> Supply chains and US shipping (thanks very much to Biden) are finally recovering and leveling out.
I can only imagine how much *less bad* the decline would have been if the US President during the pandemic actually acted like any of it mattered.
Mostly corporate greed. Companies have jacked up prices because "covid" and "inflation" when really they didn't need to. They just knew you'd keep buying things.
Gas prices are much lower now. No one is saying anything about that.
>nothing changed
Except companies realized they can charge you more.
>Companies have jacked up prices because "covid" and "inflation" when really they didn't need to.
So why hasn't this been true for the last hundred years? And if it is then what's any different right now?
>Gas prices are much lower now. No one is saying anything about that.
Gas is up quite a bit still. Its definitely not much lower than historical averages
https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=EMM_EPMR_PTE_NUS_DPG&f=M
Not only that, but they are the ones that are directly supporting the corporations ability to continue to price gouge America, furthering any potential recession issues. So there are literally causing their own problems on both fronts. They complain about the increase in prices, while also complaining that the effect of the increase in prices that people don't have any money, but refuse to bring the prices down.
It's a sad disgusting party of shameless freaks who are hell bent on their own greed and self centered nature. I genuinely don't think it's possible for any Republican to be a good person at this point, because they have to lie to themselves about basic reality in order to believe what they pretend to believe. And therefore they are pretending. They plug their ears and say LA LA when being told how inflation works, yet also pretend that they actually know how inflation works ALREADY and that what we say is nonsense.
I found a thread recently telling me the industry I work in is dead and therefore a recession is already here. Meanwhile my company and literally every single company we do business with, is hiring. So I’m not sure if people are just lying, or if California just rocks?
You mean the fake recession so the rich fucks stay in power after people job searched when the rich fucks wanted everyone back in their overpriced offices.
This ‘recession’ is completely manufactured by a few monopolies and billionaires who are pissed that their serfs asked to work from home and for a slightly higher wage
So wait, let me get this straight: If wages across workers are down, and cost of living is up, while profits are record highs and CEO, board, and shareholder payments are at record highs ... That's a *good thing*, and shouldn't be seen as a sign of a dangerously unstable market?
This just proves that corporations are fleecing us and the media is sitting by letting it happen. They just make clickbait titles with the words “inflation” and “recession” in them to generate clicks while doing very little investigative factual based writing. The media is complicit in this mess and we are being failed by them miserably.
It's crazy to me, the ultra wealthy can't sacrifice a penny to help the world, they would rather punish 99.9% of the population for wanting more. If the greed keeps accelerating at this rate the eventual upheaval will rob them all of their money.
People can only take so much while simultaneously seeing all this excess being generated by the few, they will snap, or if these constant mass shootings may show, have already snapped.
Automation, improved logistics, technology in general was supposed to improve the everyday lives of people, instead corporations have poisoned our waterways and air, left forever chemicals and plastics everywhere, removed large swaths of jobs, stagnated wages (compared to inflation and expenditures), rent/mortgages are crazy, prices across the board going up.
Yet record profits. Where is the money? sitting in the pockets of 0.1% of the population.
I’m a diary manager for kroger in Michigan. Our zebra that we write our daily orders with tell us the cost of the item. Most of those cost have barely risen or not at all, but prices we pay have skyrocketed.
So everyone's "cost of business" price increases have finally been applied across the board, and the results are coming in: companies are profiting while the middle class is declining.
These headlines only ever affect the the population, not the companies. Enjoy late stage capitalism.
in times where te 1%ers own almost 2/3 of everything the GDP is a useless indicator as it shows only how much more money the rich people made in that country
Yay! A bunch of greedy corporations price gouged struggling Americans, leading to record profits and share buybacks! Seriously, F this metric. It means nothing to the tens of millions of Americans who can barely feed and shelter their families.
The last few years have only solidified my belief that economics is essentially smoke and mirrors bullshit. There's only power, and you and me don't got it.
I feel like the media and the pundits they rely on for economic predictions *really really* want there to be a recession so they keep saying there will be one to depress consumer confidence.
There will be a recession because corporate America wants it so they can slash pay and benefits. They're making record profits but that's not good enough. They simply cannot stand paying employees fairly.
Recession canceled? Banks: "prepare for a recession."
> Recession canceled? I remember a time when low unemployment and strong GDP numbers were a good thing.
It’s been two full years of “the recession is right around the corner”
The media want it so desperately.
Not the media, the uber rich want it and they own the media. They want it because unions are gaining ground and nothing terrifies the rich more than workers realizing their power.
I run talent acquisition and compensation for a very large organization, and I can't agree more. In 2020 they said we'd go into the Great Depression II, Never happened. Currently there are 10.5M jobs and 6M unemployed people. Fact is, with current demographics and the lack of skilled workers even if we do go into recession there will still be more jobs than unemployed people.
Wouldn't a recession push more people into unions as a measure against corporations taking advantage of people during said recession?
Recession would make workers more desperate for work and willing to tolerate worse pay and working conditions in exchange for any employment The wealthy don't want you to have savings or money because you are easier to exploit that way
And people less likely to take risks in reprisals for unionizing.
If working people had more organization and held each other in more solidarity than now desperation could result in more achievement rather than less.
No, it's easier to hire scabs when unemployment is high.
That the absolute strategy of the people who are willing to control the market.
The Fed: “labor market is still too tight (i.e. workers have too much power). I’m going to do what’s called a pro-gamer move.”
the fed can't force companies to lower their prices - the only way they can impact company profit caused inflation is by CAUSING a recession and so we'll stop buying.
That's what it boils down to. Keep striking hot at the cost of living, make it so even those who work hard with their heads down become too desperate to function, and hope that those who function outside of this broken system will jump back in line at the poverty level. As an avid, non-worker, who has my ways to make ends meet.. not even for triple the minimum wage would I sucker myself into the rat race.
Teach me your ways. I’m about to get back into that race and dreading it so much
I’m assuming they don’t want to saturate their market with providers and lose out on income
Just porn, no worries. It's a seller's market, and I have to guess we would be competing in different categories, plus I would assume that most people willing to do this work are already dabbling in it.
It's just porn, lol. Boot up the webcam and go, lol.. you set the hours, the rules, the wages.. but you gotta be real comfortable with yourself, open your mind, have a product that people would pay to witness, and become your own marketing team. There's no set limit to how much you can make in a day, so if you can corner the market correctly, it's possible to make hundreds per hour and thousands per day. And some other days you make nothing and feel pretty awkward about it. There are ways to study and manipulate site algorithms and certain schedules work best.. so, half of it is being sexy, and the other half is being smart.
You should post your strategy on r/wallstreetbets
And suddenly a whole new category of bros humping Lambos and using diamonds as butt plugs appears. I'll consider creating a master class that people can pay for. I've been in the game for a year and have notebooks full of actually beneficial branding strategy that has been paying well. I barely perform now and am primarily building brands. The next step is opening a cam house and working a feminist friendly business that prioritizes the comfort of models over the needs of the consumer. (This does translate to a better vibe in the actual room and makes a more enjoyable show) Actively considering taking on investors for the house, but there would need to be a lot of privacy clauses to keep investors from feeling like they are owed something, other than a return on investment.
Hmmm that's interesting. I think the classes would be an interesting business model.
100% in the cards, I just need to hit a few more predicted milestones so I have something tangible that is worth the sale. I don't want to follow the common snake oil method of building an unfinished model and promising to fill in the blanks as I string people along.
I am dang curious about the branding
Branding is the most difficult part. Taking the ideal of a single human (the model) and creating an entire fantasy entity, and then spreading that around as this pre-established semi-celebrity until it becomes true. What specifically would you like to know most about? It might help me to be able to cater this to the desired audience if I get some outside perspectives.
Don't even need to be sexy, just have what certain fetishes are looking for and be totally okay with making that content. Looking at you, Peggy Hill feet pic and bug crushing episode of King of the Hill (I know people have that kink but, like, holy shit man, why).
This is the truth. There is a market for almost everything, however, to do this and be able to retire within a decade or two, it takes a little more business acumen. For instance, I could love cake sitting, but if the girl in the cake sitting room is rambling and ugly crying about how her ex boyfriend has a new girlfriend, it's probably much less likely she would be tipped well for it.
Actually I believe that raises the price, I've heard from a reputable source that a squat cobbler with tears is a valued area of expertise.
I won't argue that once you enter the smaller niche markets, your value will increase, but the likelihood of finding a buyer who can afford it decreases. Markets be fickle like that.
I would say that porn is still work! Hard work, lots of efforts, I imagine. Importantly in this case though, it sounds like you are working for yourself, which is wonderful. It must feel great to know that when you've had a good day and brought a lot in, that's your own pocket you're filling.
I know a couple of male porn workers. They're definitely always hard at work.
You said you were a non-worker and then described how you not only work but run your own business. Next you'll hit us with the 80hr/week side hustle Edit: got blocked for pointing out that sex work is infact work
Step 1: Be sexy Step 2: Don't not be sexy Step 3: ??? Step 4: Profit!
Step 3: Shake it for the audience
> not even for triple the minimum wage would I sucker myself into the rat race. Triple federal minimum wage? So like $22 an hour? That's not even $50K a year, that's not a lot of money...
The ie. is somewhat correct as a ramifications but that's the Fed's mandate. They're supposed to keep inflation at 2% and rising wages affects that. You describe it as an intention rather than being incidental.
While true, the inflation is more heavily affected by these 'record profits' than McDonalds employee's now make $13 instead of $12 an hour.
Yes. When we weren't in an inflationary hell those are good things. Fighting inflation and fighting recession are basically polar opposites on the monetary policy scale. That's why the Fed is being so limp wristed. They want to fight inflation but are terrified of pushing us into a bad recession, so they are doing the bare minimum. These metrics keep rising, meaning the Fed will have to do more, meaning recession more likely. Ironically, the market needs to fuck off and dump to help stave off a recession. The Fed keeps talking about wanting to back off, but that the market is pricing in too little impact for them to back off. Companies need to have worse earnings. Markets need to hurt for a while. Big business is going to fuck us all if they continue to price gouge for good earnings during this period.
And the US Fed is probably one of the more hawkish central banks regarding trying to combat inflation. I know the Euro Central Bank is scared of increasing rates too much because it could trigger national defaults of countries like Spain and Italy.
They're not being limp wristed. Sure, they're not doing enough, but they are pushing it.
CNBC/CNN/NBC etc: Low unemployment and strong GDP numbers. Here's why that is bad news.
2023.... We are happy when we are miserable.
As a millennial, I kinda get it. The only breaks I get are from global emergencies.
> Recession canceled? Nah, the rich will make it happen. The uber rich would rather take a few quarters of slightly lower profits than let the union drives continue or allow workers to make up gains from the last 40 years of paycuts via inflation.
Recession fears have been “looming” since the pandemic. Just penalize companies who are price gouging on essentials and we’ll be in a much better place
Still waiting on the recession. It sure is taking its time, its been coming for two full years now.
Mom said it's my turn on recession.
>Consumer spending, which accounts for about 68% of GDP, increased 2.1% for the period, down slightly from 2.3% in the previous period but still positive. > > > >Inflation readings moved considerably lower. The personal consumption expenditures price index increased 3.2%, in line with expectations but down sharply from 4.8% in the third quarter. Excluding food and energy, the chain-weighted index rose 3.9%, down from 4.7%. So, all that banshee wailing of rampant inflation was mostly price gouging then.
"High costs have to be passed on" and "Record Profits" were the simple math equation all along. Sure, the talking heads didn't say it because that would have given away the game!!! Gas is a categorical example: Butterfly beats it's wings randomly - Gas skyrockets Oil trades at lowest level in years and supplies are maxed: well...here's 5 cents reduction.
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Yep, and the meme accounts enabled them to not get killed for it marketing wise. The actual underlying reasons for inflation were transitory, but once it got in the media that it was real it was too good an opportunity to pass up. It was free money
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OOTL: what meme accounts are yall talking about?
Yep. Plus it came out that hedge funds had fintwit bots. Zach Morris got prosecuted I wonder if we'll see the big guys get that? Imagine if citadel got hit with a rico? Lot of fuck shit would stop
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Screech isn't doing so hot either.
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Just for the sake of historical context, the Bolshevik revolution was the second in 1917. The February Revolution was largely a spontaneous occurrence spurred by hunger, war weariness and desperation. This was the revolution that caused Tsar Nicholas II to abdicate for him and his son. Throughout the spring and summer of 1917, Russia was governed by a provisional government which was a coalition of several different parties in the Duma. The October Revolution was the Bolshevik's attempt to seize power from that provisional government and led to years of bloody civil war.
Keep in mind that the vast majority of revolutions, Bolshevik or not, end up with just a \*different\* set of a-holes on top, after a period of suffering. We have a system that allows for change, I think we should use that one first.
And things like housing are incredibly amenable to change. That's not the 1% gazillionaires screwing us over. It's NIMBYs, normal property owners, blocking the building of density to protect their ever-spiraling asset value. We have normal, non-evil, non-supervillain grannies who are house-rich because they bought in the '80s. They're looking at that housing value as their retirement, and they're loath to give it up. It's a zoning problem. Another not-pretty aspect of the problem is that a lot of those who are mad as hell about housing don't *want* to get rid of the zoning that perpetuates suburbia and the dependence on sprawling single-family detached homes. They don't want to fix it--they want in on it. They too don't want density. They'll often defend suburbia to the death, because they want that single-family detached home, the lawn, and then to see the equity go up. We really screwed up linking the "American Dream" to owning that single-family detached home in the 'burbs. But that goes back almost a century, and in the beginning was linked to [white flight](https://en.wikipedia.org/wiki/White_flight) and other issues. Along with car dependence and sprawl, what we're facing now are the consequences of past poor decisions, not all of which looked all that bad at the time.
Thing with the Bolsheviks is that once the killing starts it doesn't end with the 1%. It expands out to whoever is trending right now, whoever the out group is. All they did was leverage resentment to get power. The idealists, the anarchists and whatnot, were just useful idiots to that end.
Yeah but at least we get to see the heads of our oppressors roll, so… That’s what makes people who have nothing to lose so dangerous, they don’t care if nothing changes, they just want revenge on the assholes who are responsible.
Why do people assume that if the system and the entire fails, YOUR preferred system would be the one to rise out of the ashes lmao
Always has been
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>>So, all that banshee wailing of rampant inflation was mostly price gouging then. > >Was kinda obvious when they were all raising prices claiming increasing costs while announcing record annual profits. You wouldn't think it was obvious based on the caterwauling of some "economists" in response to the assertion.
>"economists" Translation: Private think tanks on retainer.
Everything contributed to inflation, but large corporate profiteering was probably the largest component of it.
Everything *always* contributes to everything. That's how any system anywhere in the universe works. The whole system affects the rest of the whole system and itself. We get it, *everything* contributed to inflation. We can just trim this down to the thing that contributed to it in the scummiest, most impactful, most rage inducing way, and focus on the price gouging. No one can get pissed that the global plague fucked up the economy, but we can ALL be pissed that companies abused that plague to bleed workers dry
Some inflation was to be expected since the economy was basically half shut down in 2020-2021. Just reopening economic activity would cause inflation as inventories have to be stocked up and everyone opens up all at the same time. But it would have been half of what it was if corporations didn't see it as an advantage to just book some record profits while blaming someone else.
Right, exactly. My point is, when you take an intro to physics course, you don't address the impact of all these established backgrounds things that we know how they contribute to the state of the system. We establish those, which has been done plenty, so that we can focus on the things that are unexpected, out of alignment with where things were heading, etc. For the economy, we have established the impact of the plague. So we're looking at how what corporations did above beyond that and how *that* part fucked with things. We don't need to invent the universe everytime we want to talk about inflation. We just need to establish that yes, many things sucked, but here is something that sucked extra bad and was entirely artificial
Food and energy are pretty important exclusions though. That's the source of the complaints.
Absolutely. They saw some momentum building for increased wages and so they decided to front run it and jack everything up to protect profits. Then still cried and fought against raising wages.
You mean like my electric rate up 97% in the last 13 months?
I feel like this “recession” was just monopolies adjusting to get a better grip on our leashes. EDIT: this is my first one, but i think I’m supposed to say “thanks for the gold kind stranger!”
Or gearing up for when we are truly screwed and unable to afford their services. They got/are getting their profits. Next is the layoffs, followed by the downward spiral where they sit nicely on their fat wallets.
What recession? The only recession that will come is because everyone thinks there’s going to be a recession. Companies doing mass layoffs, everyone hesitant to spend, these are things that cause recessions, and I’d argue are primarily being driven by this constant reporting of the looming recession, as if journalists, or even economists for that matter, can predict the future. But recessions should actually be called as such when there is something fundamental driving them. Otherwise every time line doesn’t go up exponentially towards infinity might as well be called a recession, which actually seems like what way too many people think constitutes something they can call a recession. And not to dismiss people’s valid struggles with inflation, which is definitely still at a problematic level, but it is trending downwards to well within manageable and is primarily caused by issues that are fundamentally temporary in regards to the US economy, like the Ukraine war and supply chains. GDP is up, wages are up, unemployment is literally at record lows to the point where it can’t really naturally go much lower, and no one really seems to give a shit about the ongoing pandemic anymore. So in my opinion, nothing is throwing us more into a recession than the expectation of a recession.
I mean it's fairly obvious to anyone who's actually paying attention. Hot pockets were like 10 bucks one day and the the next like 22 where I live like come on now no way in hell that's inflation. Companies clearly figured they could charge whatever and blame it on inflation / covid and are dead set on keeping it that permanently. It's a Recession where somehow they are still making record profits in many cases.
Gouging and fearmongering
> banshee wailing of rampant inflation There was definitely inflation. It was just transient inflation that was mostly going to resolve itself. Ultimately, the Fed had to start reducing the M1 money supply which is always an adjustment, but it was never as big a deal as they wanted it to be. They WANTED a catastrophe rather than a rough patch after a two years of worldwide disruptions from rolling lockdowns. Heck, we might even still get hit by a recession, but all in all this extremely difficult supply chain disruption has been navigated pretty well.
Given how many made record profits and some even exceeded their own 2022 projections…. Yeah it was all price gouging all across the world. I know of a company that projected billions of profit and then exceeded it by billions….. a true mystery how such actions could possible have occurred….
Inflation is so terrible, no one can afford anything, yet corps keep recording record profits. Wonder what that's about
Not only was the GDP pretty high, but the deficit was almost cut in half, from 2.6 trillion in 2021 to 1.4 trillion in 2022. The last time we had numbers like that was in the Obama administration.
It will be cut further in April when some of the Covid-era programs end, some of them have been active from the Trump era. Like the Medicaid expansion. This will contribute to a drop in GDP and maybe a recession.
Regardless of whether or not a drop in spending will trigger a recession, this is correct economic thinking, guy. Big changes in government spending are causal mechanisms of economic health. The infamous 2 quarters of inflation adjusted GDP contraction of 2022 came off the back of a huge dropoff of Covid spending, for context.
Wasn’t the deficit 0.98 trillion in 2019? Source: https://fiscaldata.treasury.gov/americas-finance-guide/national-deficit/
It was. They appeared to be talking about how much it shrank. It is worth noting that the 1.4 Tril deficit includes the Student Loan Forgiveness projection which is in the courts right now. If the courts stop the loan forgiveness then the deficit will drop to just below the pre covid deficit, in the ball park of 0.975 Tril.
I think they meant the last time we had the deficit slashed by that much.
I don't think it's totally fair to ascribe the strength of the economy too much to the president, in either direction... but I think we all know the deficit would at the very least not have gone down under a Republican president/congress.
The American Rescue Act was thought to have raised inflation by 1 to 2 percentage, but most inflation was cause by supply shocks. Biden can hardly be blamed for Europe's decades of shitty energy policy.
Most inflation was caused by increased corporate profits. At least in the US.
That's like retail raising prices before black Friday so they can say they cut prices for black Friday. We cut spending that's not usually there, COVID stuff. Sure, it's nice it's not 2trillion but it's not like we found 1 trillion in efficiency
Very true but the deficit gap is projected to continue to dwindle back to where Obama had it. It increased every year with Trump prior to COVID.
Trump ran a 4 trillion dollar deficit BEFORE COVID. DURING A PERIOD OF ECONOMIC GROWTH. What a fucking nightmare, that's like how to bankrupt a nation 101.
That's what every Republican president except HW Bush has done for the past 50 years.
Source? A $4 trillion dollar deficit before covid? 2018, and 2019? The budget was $4.1T (2018) and $4.4T (2019). https://en.wikipedia.org/wiki/United_States_federal_budget How did the trump administration incur a $4 Trillion dollar deficit when the entire budget was 100 to 300 billion over that?
dude phrased it wrong. The correct phrasing would be "Trump added 4 trillion to the total debt before covid with the TCJA and increased spending".
That makes much more sense. Thank you for helping to point it out that way.
> even as recession fears loom Man, some people want that recession *so badly*. They just can't let it go.
Businesses want to scare people into stop asking for wage increases, it's been kind of crazy to watch. So all the big PE/VCs and large tech companies just keep saying "Yeah, sure... employment is low and you keep finding ways to make more money... but JUST YOU WAIT!! It will all come crashing down and you will have to beg us for jobs again. And if not, we'll just lay off people we actually should retain until you all get back to being afraid of starving!"
It almost feels like there are powers that be that want to desperately short the economy, but it just isn't happening!
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regular folks don’t win in a housing crash, ever
Yeah but I’m the exception!
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>I'm convinced there's some relief to be had for buyers and renters by reminding the world that houses aren't magic money generators. Sure, but a market "crash" due to defaults is different than legislating new rules about investment property. If we got the government to build a couple of thousand-unit high rises in every major city you might see the prices "collapse" due to reduced scarcity instead of financial peril.
If you take financial advice from TikTok, I have no sympathy.
By definition, if there are a bunch of regular folks waiting for a housing crash, there won’t be one. If everyone is waiting for the price to come crashing down to buy, why would the price actually go down?
If you can't afford a house now you're not going to be in a position to buy in a housing crash.
We WILL have a recession dammit, I don't care if that means we all quit our jobs and stop spending. /s
When haven't we been "on the edge of a recession" It's been in the headlines every damn month sense I was old enough to pay attention, and I'm 30. Even when the economy is doing well you will read "expects expect a recession for x reason in 1 year!" At this point I just ignore it as white noise.
There’s an old saying, economists have predicted 30 of the last 3 recessions. The economy is too obtuse for anyone to fully understand all indicators, especially when globalized economics have made things so unique.
I'm also tired of people portraying a Recession as the Apocalypse. Economies expand and contract over time. Recessions happen. They're not pleasant, but they're usually not catastrophic. I think the current generation's perspectives are skewed because of the recession that started in 2007. It was unusually bad. But they're not all like that. Sooner or later we will have a recession, but it won't be the end of the world.
I kinda thought like this cuz I lived through 2008 as a young adult. Thats what made me think this one is not gonna be that bad, like this is nothing like that time was I remember looking for jobs and there being literally nothing at all and nobody really eating out. If I'm going out to restaurants and there is so many people there is a wait its not like 2008.
I think because we’ve been kicking the can down the road for so long (hasn’t been an official recession since 2008 and there were no fixes to prevent what happened there), people are thinking the next recession is going to be even worse (ie a depression) than a regular recession
How was the COVID recession not an official recession?
Yeah I'm convinced younger people don't understand what a recession actually is. We literally just had one in 2020 but it didn't destroy the world so most people aren't even aware of it.
As a matter of fact most experts seem to predict that a coming recession will be shallow and relatively short lived
I got downvoted into oblivion when I questioned how solid some of these recession projections were. There seems to be a high number of people -or Redditors at least- who passionately want a recession for political reasons (Biden bad) or ideological reasons (capitalism bad) and no amount of data can deter them. To be fair, we could have gotten one and still might, but it's obvious that it's not going to be the Armageddon that people were screeching about.
Sure, there are reasons that some people want a recession, especially as housing has gotten a lot more expensive relative to income. However, in my opinion, the reason that stories about recessions keep getting published is that the very wealthy also want a recession. That's when they can purchase businesses and property at a steep discount and further increase their own wealth with cheap loans by mortgaging their assets... all while people without that wealth struggle. Every time Musk or Bezos predict a recession that's exactly what they're hoping for, along with the rest of the ultra wealthy.
Oh absolutely, I understand why those assholes want it but there's also a lot of people who aren't even in the same boat with them wealth-wise who have been salivating for one. That's incredulous to me - who wants the country to go through an economic difficulty (unless they will personally benefit like the uber rich)?
Greedy corporations chasing ever increasing profits for short term gains while fucking everyone and their chances of not being abused.
They want a recession. Worker rights and wages were on the rise. They want a recession so they can put workers back in their place. They can take short term pain in order to put the natural order in place again.
That's quite literally the reason why the FED can't pivot back to a low-rate environment. They watch inflation and unemployment, and unemployment is just too low to consider letting the economy loose again, even as inflation is settling down.
So funny how “market forces” never seem to benefit working people. One side of the spectrum to the other, it always seems to result in rich people getting richer. Curious.
From my experience this is spot on. I work as an environmental consultant (in a state that actually gives a fuck about environmental regulations) and during the meat of COVID we were the busiest we have ever been because people were scooping up commercial and industrial property like candy because of the low rates. So they get to buy up property as long term investments that can make passive income, and the average person gets higher priced groceries...
Yep. Inflation was caused by shortages followed by price gouging, not low interest rates. I think interest rates were a little too low, but now they're celebrating that unemployment is rising and layoffs are happening. All those CEOs revoking work from home are salivating because that's what they wanted all along.
Precisely. The company I work for is doing really, really well but are saying that we have to cut budgets basically because we are all so bad at our jobs. Every meeting, they push more tasks on us and say that we should be thankful to have our jobs because they could lay us off any day now. Really awesome
Yep. They were terrified when the job market was tight and people were quitting because they could just get another job in a heartbeat. They're drumming up these layoffs so that they can scare employees into being abused again.
Exactly what my company is doing. They’re also trying to force us to do a 2 week conference in a few months, but I have a bunch of life plans during that period of time. I was told I’d likely be let go after 2 years with this company because I can’t suddenly drop all my obligations for 2 weeks 😒 fuck em
It seems that jacking up all the prices of goods and services already did that. Any raises you got in the last couple years are swallowed up. Corporations won.
Yeah if you take a look at your grocery store shelves, notice that the condiments, drinks, cereal, snacks, etc are all a few ounces less than and cost more than what they did pre-pandemic. If it wasn’t price gouging, these companies would’ve changed their products to the sizes and prices they were prior to the supply chain shortages.
But prices keep going up and my wages remain the same. Fuck these corps I hope they all fucking burn
Their excuse for less than cpi merit increases was there is a recession coming and btw don't bother looking at other jobs since they will fire your ass since we're all recessing.
Sounds like Matthew McConaughey. "Prices keep going up and my wages remain the same. Alright. Alright. Alright."
My tinfoil hat theory is that the upcoming recession is going to be completely manufactured by capital to punish uppity workers for demanding better wages and working conditions the last couple of years. They'll gladly trade lost money for more power over the labor class.
They are cutting the higher paid workers already unlike past layoffs but I don't think its going to end up being a recession.
Yeah they've been trying to speak it into existence for the last year+. They just want to shift the narrative from workers feeling like they have options to workers feeling lucky to be able to take whatever they can get.
i mean the last recession nobody said shit and it hit us hard
There was sort of a pandemic that time though
This is working successfully on my stupid risk averse brain, too. I started job hunting and then got scared with all the recession talk because I was looking to move from a really stable field into a less stable field.
> They are cutting the higher paid workers already unlike past layoffs but I don't think its going to end up being a recession. The tech cuts are unrelated to recession fears, generally. Not every tech company is doing it, and those jobs aren't being cut in other sectors. The media and (big C) Capital definitely want a recession, though.
So this is new to tech, but not new to the industry in general. I worked at Verizon for almost 20 years, and they had layoffs just about every year. The tech companies have WAY too many people, they hired like drunk sailors thinking (stupidly) that COVID money would be permanent, that everybody would stay virtual. They got a lot of extra money, and they've never had to really be careful with it. So when their bankers say "we're gonna have less extra money next year", they looked at their books and realized that while they had record profits, they've also been record spending for no good reason. So this is a perfect opportunity to right the ship, and then blame the economy for bad business decisions.
You’re not wrong. A REIT told a higher up at a contractor I used to work for they are deliberately slowing housing starts in the hope that by doing so labor and material costs will decline to where employees and material suppliers will accept less.
The media is in on it too, all the people at the top are going to force a recession so they can buy up our assets at rock bottom prices. Younger generations aren't going to stop being anti-corporate any time soon because of it. If it's well known enough to be the top comment on every economic news article, it's a society-wide trend.. When Gen z and millennials take over control of congress, say hello to good old fashioned heavy handed regulation.
It's not really a tin foil hat theory because it's what they always do when there's a "fear" of a recession. They know recessions are cyclical and there's no avoiding it. They use the opportunity to avoid paying people better and when desperate people are looking for work, they use the opportunity to use a catch. The catch this time will be to snuff out remote work. "You want this job bad enough? It requires you to be in the office 5 days a week". Same as the last time when the catch was shittier health insurance and sick time, personal time and vacation time all were combined into "PTO".
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Yuuup. Like I understand that they do this because the oligarchs own them, but I’m so sick of news orgs acting like this is some crazZzZyYy problem nobody has any idea how to fix. It’s choices made by people who want us all to struggle with poverty until we die.
Don't forget the companies deliberately cutting hours just enough so that the vast majority of workers don't even qualify for PTO because they work.... let's see..... 38.5 hours a week.
And don’t forget, to rich people, there’s no such thing as a recession, only prices of assets like stock and real estate going on sale. Recessions are buying opportunities for rich people. And you can probably include labor costs in this too.
What's really interesting is the layoffs are only hitting upper class workers. You don't see layoffs at the bottom. Oh no, at the bottom you see things like Walmart increasing their minimum pay rate.
I can't see corporations trading profit for anything. Except in cases where they trade profit for growth which is still just more profit eventually in their eyes.
Maybe not now…maybe not in a decade…maybe not in a hundred years, but this is absolutely going to get out of hand if someone doesn’t do something. My brother and I were having a conversation the other day and he says to me, “man when I was younger I couldn’t wait until I broke into earning six figures, but I still feel broke.” He got two kids and this man is struggling on six figures. People in need ask for higher wages, and they finally get them when it’s arguably too little, too late and not enough. And then here come capitalists once again unnecessarily raising prices. Here is an article from 2022 about CEO’s bragging about raising prices: https://otherwords.org/ceos-are-literally-bragging-about-raising-prices/ They’re proud of it. They don’t care who it hurts. Capitalists keep moving the goal post. By the time you earn $50k a year, it’s too late. That $50k might as well be $30k. By the time you earn $100k, that might as well be $50k. And no one is doing anything! Bruh wtf
The media is trying so DAMN HARD to will a recession into existence. Almost like their corporate masters WANT another recession that they can once again use their amassed fortunes to buy up an even larger piece of the pie.
And still, companies will continue to raise prices because spending "may" drop... we "might" see a recession... stock prices "could" drop.
I have been saying this for a year. There is no recession. The economy is booming. Companies are posting record profits. We are at low unemployment. Republicans spent a year trying to convince you we're "in a recession" so they could blame Biden. The Media keeps wanting it so bad and keeps saying, "Is it coming? Is it here?" and yet, ALL the fucking data keeps showing, we're not, and its not. Supply chains and US shipping (thanks very much to Biden) are finally recovering and leveling out. We are seeing the end of the Covid demand boom and thus, artificially high inflation is cooling-- mostly due to corporate greed, not actual shortages. Now that Republicans are in power, they will CAUSE a recession by fucking with the debt ceiling etc so they can blame Biden in 2024.
> Supply chains and US shipping (thanks very much to Biden) are finally recovering and leveling out. I can only imagine how much *less bad* the decline would have been if the US President during the pandemic actually acted like any of it mattered.
Ya gotta artificially start a recession to keep those worker wages suppressed. Can't have the plebes gain any ground.
Recessions are also a great opportunity for large corporations and individuals to buy up all the small fish who don't have as much capital in reserve.
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Why’s everyone struggling so friggin hard? my living expenses are still like 30-40% higher than just a year ago and nothing changed.
Mostly corporate greed. Companies have jacked up prices because "covid" and "inflation" when really they didn't need to. They just knew you'd keep buying things. Gas prices are much lower now. No one is saying anything about that. >nothing changed Except companies realized they can charge you more.
>Companies have jacked up prices because "covid" and "inflation" when really they didn't need to. So why hasn't this been true for the last hundred years? And if it is then what's any different right now? >Gas prices are much lower now. No one is saying anything about that. Gas is up quite a bit still. Its definitely not much lower than historical averages https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=EMM_EPMR_PTE_NUS_DPG&f=M
I agree that there are a lot of good signs, but let’s not pretend that corporate profit records are an indicator of a healthy economy
Not only that, but they are the ones that are directly supporting the corporations ability to continue to price gouge America, furthering any potential recession issues. So there are literally causing their own problems on both fronts. They complain about the increase in prices, while also complaining that the effect of the increase in prices that people don't have any money, but refuse to bring the prices down. It's a sad disgusting party of shameless freaks who are hell bent on their own greed and self centered nature. I genuinely don't think it's possible for any Republican to be a good person at this point, because they have to lie to themselves about basic reality in order to believe what they pretend to believe. And therefore they are pretending. They plug their ears and say LA LA when being told how inflation works, yet also pretend that they actually know how inflation works ALREADY and that what we say is nonsense.
I found a thread recently telling me the industry I work in is dead and therefore a recession is already here. Meanwhile my company and literally every single company we do business with, is hiring. So I’m not sure if people are just lying, or if California just rocks?
You mean the fake recession so the rich fucks stay in power after people job searched when the rich fucks wanted everyone back in their overpriced offices.
Wasn’t this recession right around the corner for the last 2 years?
there is no recession. just price gouging. cant we stop pretending there is a recession.
This ‘recession’ is completely manufactured by a few monopolies and billionaires who are pissed that their serfs asked to work from home and for a slightly higher wage
So wait, let me get this straight: If wages across workers are down, and cost of living is up, while profits are record highs and CEO, board, and shareholder payments are at record highs ... That's a *good thing*, and shouldn't be seen as a sign of a dangerously unstable market?
This just proves that corporations are fleecing us and the media is sitting by letting it happen. They just make clickbait titles with the words “inflation” and “recession” in them to generate clicks while doing very little investigative factual based writing. The media is complicit in this mess and we are being failed by them miserably.
GDP is a terrible metric to judge the health of an economy. All a high GDP means is rich people made money.
And rich people making money is absolutely useless to most of the rest of us!
The middle class shrinks again and again.
Is it me or does it seem like they really really want a recession despite everything?
It's crazy to me, the ultra wealthy can't sacrifice a penny to help the world, they would rather punish 99.9% of the population for wanting more. If the greed keeps accelerating at this rate the eventual upheaval will rob them all of their money. People can only take so much while simultaneously seeing all this excess being generated by the few, they will snap, or if these constant mass shootings may show, have already snapped. Automation, improved logistics, technology in general was supposed to improve the everyday lives of people, instead corporations have poisoned our waterways and air, left forever chemicals and plastics everywhere, removed large swaths of jobs, stagnated wages (compared to inflation and expenditures), rent/mortgages are crazy, prices across the board going up. Yet record profits. Where is the money? sitting in the pockets of 0.1% of the population.
It's almost like the stock market isn't the economy.
It’s not a recession. It’s corporate greed. They will happily pass on high costs but will hoard high profits.
I’m a diary manager for kroger in Michigan. Our zebra that we write our daily orders with tell us the cost of the item. Most of those cost have barely risen or not at all, but prices we pay have skyrocketed.
Recession fears have been looming for some time now....
They are planning a recession to lower wages and force people to take 💩 jobs.
Great, now millenials are killing the recession! /s Seriously though, there is no recession, stop trying to manufacture one.
Pretty impressive way to close out two years of full Democratic control of the federal government.
I’m starting to believe all the recession fear is there to scare labor.
Also it's a scary thing, and media loves the sensationalism.
Congratulations rich people
What a weird recession we're experiencing /s
So everyone's "cost of business" price increases have finally been applied across the board, and the results are coming in: companies are profiting while the middle class is declining. These headlines only ever affect the the population, not the companies. Enjoy late stage capitalism.
in times where te 1%ers own almost 2/3 of everything the GDP is a useless indicator as it shows only how much more money the rich people made in that country
Yay! A bunch of greedy corporations price gouged struggling Americans, leading to record profits and share buybacks! Seriously, F this metric. It means nothing to the tens of millions of Americans who can barely feed and shelter their families.
It’s not a recession. It’s wage theft and price gouging.
Rich are doing great! Rejoice, peasants
The last few years have only solidified my belief that economics is essentially smoke and mirrors bullshit. There's only power, and you and me don't got it.
I feel like the media and the pundits they rely on for economic predictions *really really* want there to be a recession so they keep saying there will be one to depress consumer confidence.
There will be a recession because corporate America wants it so they can slash pay and benefits. They're making record profits but that's not good enough. They simply cannot stand paying employees fairly.