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We're in a windchill economy. It's why everything feels so unaffordable (www.cnn.com)

submitted 2 weeks ago by neroiscariot@hexbear.net to c/news@hexbear.net

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https://archive.ph/hs97o

"During the pandemic, millions of Americans got their first taste of financial security. They weren’t spending on travel, gas, restaurants and a number of other items. Their savings were padded by what they weren’t spending – and Americans got an additional boost through historic government stimulus."

The entire thing is awful and this person deserves to be found and given a swirlie

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[–] Robert_Kennedy_Jr@hexbear.net 15 points 2 weeks ago

Even though pay gains are exceeding overall inflation, the particular prices that are gaining fastest are among the most painful for Americans to absorb. Food, electricity, child care, home prices and rent have all outpaced wage gains over the course of the ’20s. Those items all have a common theme: They’re regular expenses that you can’t avoid.

Bank of America’s deposit data illustrates that divide: Higher-income households’ paychecks grew 4% year-over-year in November — the highest since October 2021 and well above the 3% inflation rate. But middle-income households’ paychecks gained just 2.3% and lower-income households’ wages were up only 1.4% – half the pace of inflation.

What is everyone complaining about the wealthy are doing great???