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[-] PP_BOY_@lemmy.world 8 points 11 months ago

Okay but it's an election year so if we tell you it's booming enough, some of your idiots will think it's true

[-] ImFresh3x@sh.itjust.works 3 points 11 months ago

It’s booming for some people. Look at all the spending. And for anyone with a 401k, or and brokerage they’re seeing 30% growth yoy. It’s booming. It’s just not booming for everyone.

[-] PP_BOY_@lemmy.world 3 points 11 months ago

30% growth

This barely exceeds inflation. Used cars are up 35%, electricity costs 18-55% depending on region, groceries up 28%. That "growth" you mention is only on paper, there's no increased buying power behind it.

Regardless, you'd have to be a sociopath to say that a few people making more money (on paper, again) still qualifies a booming economy in the face of

  • Child poverty rate +138%

  • +11,000,000 kicked off Medicaid

  • Record homelessness

  • 60% living paycheck-to-paycheck

The only rational conclusion we can make from this is that the metrics we use to measure a booming economy are fundamentally broken.

this post was submitted on 20 Dec 2023
1298 points (96.1% liked)

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