Why won’t you celebrate the booming economy!
I lost 20 pounds the last year or two by not eating thanks to the booming economy.
I’m down 40ish in a year. I mean, it’s weight I’ve been trying desperately without success to lose for years, but eventually I’m going to run out. And then when it’s 3am on a Tuesday and I’m lying awake mentally working through my budget for the 11th time that week I go “I’ve been stressed and skipped meals before and never lost weight, do I have cancer? Because I really can’t afford that.”
Wow, lucky! /s
When the economy is bad, prices go up, wages stay low and we get fucked. When the economy is good, prices go up, wages stay low and we get fucked.
Seriously fuck the economy, it only benefits the 1% so why should I care? That’s why you do the minimum the your job requires, don’t ever give extra, don’t be a “team player”, cause come pay time there is no team
But you can donate sick pay to a coworker who got attacked in a home invasion, or hurt in a car accident or needed a life saving surgery! You can even donate to a fundraiser for a coworker run by an employer announcing double the profits of 33 years ago and paying for fewer benefits than ever.
That’s why you do the minimum the your job requires, don’t ever give extra, don’t be a “team player”, cause come pay time there is no team
I learnt that the hard way.
Well, many conflate the economy with the stock market. To me, If wages are flat and people are hurting, the economy is not good. The stock market may look good, but if the middle class isn’t growing from the bottom the economy sucks. Like right now.
The average American can afford more now, not just the top 1% https://home.treasury.gov/news/featured-stories/the-purchasing-power-of-american-households
I wish I knew what planet you’re living in where you think our generation has it good
Poster offered up evidence. You’ve just attacked them. It’s clear who has more faith in their position. It’s clear who arguing with their reason and which is arguing with their emotions.
While I agree that people in social media users have biases and ignore even a reputable evidence, but with economics though, it’s complicated. One economic metric alone is sometimes not enough, has limitations and therefore doesn’t give the full picture. I don’t know much about purchasing power parity to comment on it, but the best example I can give is on GDP or gross domestic product. A country that has high GDP in let’s say, $100 billion, shows that the country is rich. That implies that the population in that country are also also wealthy enough, right? Not really. If the GDP per capita/person is in $1,000 in that country, as opposed to US’s of over $60,000, then the people in that country are not affluent enough.
Immense wealth is nothing if they’re not distributed equitably. The higher purchasing power of Americans is taken on average but does not take into account that certain areas do not have higher purchasing power. California would have higher purchasing power as opposed to rural folks in the Rust Belt. And the latter are Trump supporters for a reason.
I agree with your point, but don’t see how it makes sense here. The article doesn’t just throw out a single metric that would be misleading due to wealth inequity. There’s a whole section about real wages over the income distribution. It’s much more granular.
You shouldn’t believe every source on the internet
True. And the least trustworthy source is some random in the comments section making baseless claims. Treasury.gov is at least a thousand times more reliable than that. Probably safe to say a million times. Hell, if you can’t believe treasury.gov, what would you trust?
The one where I don’t listen to social media narratives. Look at the data
Slightly better is still living paycheck to paycheck.
Also jobs are up but that’s because many are having to work two and three jobs.
People work fewer hours now than before
Now show the productivity chart
When you work part time jobs you generally don’t get benefits (paid by the company) but you will get welfare and food stamps when you work at Walmart for 39 hours a week, for example.
Pretty much nails it on the head. It feels dystopian, and social media makes it so much worse. How is everyone I know buying houses and going on vacations and going out all the time, when my yearly raises haven’t kept up with inflation for 8 years now?
I believe it’s related to how credit card debt is at the highest level it’s ever been
It is dystopian. And in some ways it’s a return to feudalism. For a brief time — since the Industrial Revolution — people found ways to build wealth without acquiring a ton of land. Now in the past few decades we’re seeing people go back, heavily, into land as an investment. This trend started before Airbnb existed but now it’s accelerating like crazy.
Everyone knows that housing is scarce and that construction has slowed down dramatically. So everyone who can afford to is buying up all the housing because they know it’ll only skyrocket in value over time. This is bad not only because it makes housing unaffordable but because it locks up so much capital in a non-productive form.
The capacity to buy doesn’t mean you can afford it.
The economy is built on debt and inflated valuations.
How is everyone I know buying houses and going on vacations and going out all the time,
Two things. First, it’s not the dystopian nightmare you think it is. As you note, social media is making it worse.
Second is a lot of people live beyond their means, or are getting help from family to buy these things.
when my yearly raises haven’t kept up with inflation for 8 years now?
Should have started looking for a job 5 years ago. If you did and couldn’t find anything, that explains why they feel comfortable not giving you an actual raise. If you haven’t, best time to start is right now.
I’ve changed companies 4 times in those 8 years. I’ve changed industries twice. Food -> banking -> medicine. Trust me, my lack of funds is not from a lack of motivation and effort
Sorry I didn’t mean to sound like I was imply you were lazy. I’m really speaking from the position of someone who had to convince themselves changing gears was necessary before doing so. And absolutely glad I did.
That being said, one of the easier things to negotiate when leaving a job for another is getting a raise at the new company. “I like my current job and only want to leave for the right opportunity. It’s hard to justify that if I’m not seeing a significant pay bump.” That’s where I’ve seen some of my biggest pay bumps.
Yep, had to buy a house with my dad to achieve the American dream. I’ll probably have to sell once he passes. I can afford the mortgage, but not the upkeep.
I mean. You can always do what the third world does and jump the hoops to live in a good country. Then you’ll be able to have a safer, cleaner, healthier life where you can afford the basic necessities of life.
Hopefully people won’t get mad and start passing lawes to harass the new people with the heavy american accent just trying to work, pay taxes and live a decent life.
Man, the irony is palpable.
The people who can barely afford housing can almost assuredly not afford moving to another country.
I’m not talking about fancy living in europe. I’m talking about moving to south america where each dollar you have is 5x more so you can have a fresh start feeling like someone who just got a beefy inheritance. If you work distance to earn a wage in dollars you are set for life.
Yes, and the people who CAN BARELY AFFORD HOUSING can not afford to move there. A large portion of American citizens have said that a 1000 dollar emergency would be devastating for them. These people would not even be able to save up to change their life like that even if they wanted to.
But I thought higher wages were supposed to solve this problem?
Don’t tell me landlords just raised rent to compensate…
