Wages are stagnant and cost of living is ridiculous. Are we headed for a crash?
we’ve already crashed
Submitted 3 days ago by LadyButterfly@piefed.blahaj.zone to nostupidquestions@lemmy.world
Comments
loomy@lemy.lol 1 day ago
sunbytes@lemmy.world 1 day ago
No. Things will just get worse.
Your statement has probably been true since 2008. Maybe longer.
anonymoushobbyist@lemmy.zip 21 hours ago
Over-population: Sole reason for everything
Clent@lemmy.dbzer0.com 1 day ago
More of a sticky slide into a chaos. From it our pain and suffering will fuel new metrics for new economic models with new crash indicators. Indicators that when applied to today would appear as an ominous array of flashing red lights.
MITM0@lemmy.world 1 day ago
Yes
zxqwas@lemmy.world 3 days ago
You’re in a situation where you have to cut spending and raise taxes while the left promises to not cut spending and the right promises to not raise taxes. It’s an issue the last handful of administrations have not been able to deal with…
It’s going to be painful. Hopefully not a drawn out depression like the 1930s.
Kyrgizion@lemmy.world 3 days ago
Hopefully not a drawn out depression like the 1930s.
Much worse. This time it’s going to be permanent.
CarbonIceDragon@pawb.social 3 days ago
Virtually nothing in politics or economics is ever permanent.
aizawaA02@lemmy.zip 2 days ago
Wait until AI/AGI take over. Which is the most silent part of it all. It’s all “nice and great”, supposedly “making our lives easier”, when in fact it will decimate most of the population’s lives. It’s the part that no one ever talks about. You think it’s bad now? Wait until AI takes over everything, and I mean everything to where millions are left without a job. Yes this tech might be “innovating” and make our “lives easier” at the expense of what? The question is what are people going to do when AI takes over? How are we going to even afford to live. What happens to the our basic provision for sustainability to live life. That’s the quiet part that everyone wants to ignore and never ever has an answer for it. It’s absolutely vile and disgusting, cuz no one is looking at the dire ramifications of such deadly technology that threatens the very fabric of our lives and future generations to come.
A guy put it very well. His wife wanted kids, and the guy did some in depth into researching AI… he told his wife he didn’t want any kids because he knew that his kids wouldn’t even have a job. And he is correct in that statement. The kids that are born now, will they even have jobs? What will their future look like?
Tollana1234567@lemmy.today 1 day ago
gen z is pretty much suffering from that, cant say the same for gen alpha when they come of age, what they going to do join the military? milleneals are bearing the brunt of it now.
x3dre1960@lemmy.world 1 day ago
[“Create one’s own money as a IOU/ Promissory note, put your thumb print on it’s value and signature to it and get others to do the same. Trust it as you would have done so if it were debt based fiat currency. Get your villages and towns to start using it and bingo a new private lawful currency has come to life. :-) .”]
gandalf_der_12te@discuss.tchncs.de 1 day ago
Grocery value didn’t go up. Real wages went down. We should measure inflation based on cost-of-living.
Groceries don’t really get more expensive, because the methods for producing food don’t really get less efficient over time; if anything, it’s more efficient. So there’s no real reason for them to become more expensive.
Instead, wages declined. I’ve already commented many times that the labor market is a free market, that means it’s regulated by Supply and Demand. I.e., if prices for labor go down, as we can observe, then that can be interpreted such that supply of labor went up (women go to work too, offshoring labor to other countries, immigrants, …) or that demand for labor went down (automation, end of growth, …).
I honestly think that both cases are difficult, where the supply of labor could be a bit reduced by kicking out immigrants and home-shoring labor (and also, to a lesser extent, making it more difficult for women to work), which btw some advisers to trump are seemingly trying to do, but my honest opinion is that it won’t bring wages up to how they were in the 1960s. Demand for labor is shrinking too, due to the end of growth and now AI and other automation techniques. I guess we’ll have to face that.
edit: just to offer an optimistic outlook, i think that consumerism and therefore demand for consumer products could be stimulated by simply giving handouts to people. most people will spend most of the handouts immediately, and that stimulates consumerism. and that in turn stimulates the economy.
Fredthefishlord@lemmy.blahaj.zone 1 day ago
Groceries don’t really get more expensive, because the methods for producing food don’t really get less efficient over time; if anything, it’s more efficient. So there’s no real reason for them to become more expensive.
There is reason though. Making them more expensive increases money in flow. Prices aren’t just based on supply
gandalf_der_12te@discuss.tchncs.de 1 day ago
that depends on whether there’s still competence in the grocery market
Demonmariner@lemmy.world 2 days ago
Why, this is a crash, nor are we out of it.
SoftestSapphic@lemmy.world 2 days ago
ITT: Slaves use bunk stats to feel indignant about maintaining the status quo.
Tollana1234567@lemmy.today 1 day ago
brought on by the dismal job prospects of many degree/fields too, even before trump 2nd term.
LadyButterfly@piefed.blahaj.zone 1 day ago
Yes degrees are ridiculous nowadays. Graduates are ten a penny and debts are awful
Tollana1234567@lemmy.today 1 day ago
before covid hit i was visiting indeed forums and glassdoors quite alot. and found out so many people are like struggling with thier employment. Indeed and glassdoor shut them down, because the employers/companies were threatening the site owners with lawsuits because it made them look bad, because people were reporting how terrible the employers were, unethical business practices,etc.