Submitted 8 months ago by Danterious@lemmy.dbzer0.com to aboringdystopia@lemmy.world
https://flowingdata.com/2024/02/13/consumer-confidence-in-current-economic-conditions/
First they changed the definition of recession, then they changed the formulas for measuring inflation.
Lastly, a little friendly gaslighting that somehow the stock market is equivalent to the economy.
This is Jerome Powell and Janet Yellen printing the middle class out of existence.
2 full-time, educated workers in their prime today don’t make enough time equal the spending power of just one of their grandfather’s. This literally extends to the 99 percentile.
There is no middle class.
Middle class is not and was never the class in the middle, it was the embodiment of the American dream. 2 cars a garage, if you save, a vacation home. Kids. Hobbies. Retirement.
Neoliberalism is the greatest con-job to ever exist. we’ve been robbed of more than we’ll likely ever have.
The only way I know to strike back is to abandon the dollar. If we can collectively collapse the dollar, then everyone’s the same amount of broke. No money means no law enforcement, means no debt records. If we’re gonna end up in poverty might as well make sure we all sink together. Community spirit and all that.
This is why the Fed has been trying to expedite a cbdc
Businesses are doing great in a cost of living crisis while the workers that both produce and consume the products are fucked - what could possibly go wrong? Things will trickle down any decade now… You’ll see.
This is like the private equity model scaled up to the level of the economy… Strip out all the costs (cut wages, automate, etc.) in an entirely unsustainable way that makes things look good on paper short-term, pat yourself on the back for turning the business around, then flog the lot on the fudged valuation and run, chuckling as the whole house of cards collapses.
Structural change is needed. Endlessly siphoning more and more productivity off to non-productive shareholders is breaking the economy.
It is EXACTLY that. PE is the main driver behind the rise in health care, the rise in elder care, the rise in medicine, the rise in child care, and now the rise in housing.
And just for funsies PE, since 2008, has essentially rolled up EVERYONES retirement into their billfold, teachers, 401k’s, nurses unions, for 2 reasons. 1. easy money, the person who makes the most off your retirement account isn’t you. The PE firm take you for over a third of its lifetime value. It’s.fucked. and B. Insurance against regulations. If they go down…they’re taking everyone with them.
The sooner they go down the faster we can work on fixing the hundreds of millions of destroyed lives (in America alone). Capitalism is digging it’s own grave. It’ll end up a swear word. Calling someone a banker will be grounds for a fight. I’ll personally guarantee that last part…by going around fighting all the bankers.
It totally is.
If you replace “economy” with “rich people’s yachts”.
Inflation is easing up, people are getting raises, and gen Y’s boomer parents are starting to die leaving behind lots of money and houses. That light blue line is coming up and it will be fine for everyone except for those for whom it was never going to be fine anyway (which is a ton of fucking people, holy shit we need to help the poor).
I wish Nate Silver would take the five grand he made as a charlatan, use it to buy a horse, and ride that fucker into the sunset.
They’re just making sure elections are still interesting by giving a chance to big cheetos dude.
athos77@kbin.social 8 months ago
I love how they say "High inflation" when they really mean "massive corporate profits".