“There’s this wild disconnect between what people are experiencing and what economists are experiencing,” says Nikki Cimino, a recruiter in Denver.
“There’s this wild disconnect between what people are experiencing and what economists are experiencing,” says Nikki Cimino, a recruiter in Denver.
Exactly that. On average the economy is doing fine but it’s skewed very heavily towards the top and nothing much for the 90%. The median income is actually decreasing.
Removed by mod
I would LOVE to see a source on this, but I have a feeling I already know where it is coming from.
Would you prefer the Economic Policy Institute, Politico, or CNBC?
I think the wording in your original comment is pretty misguided. Nowhere does it say the poor are “doing better than” the wealthy. They just had the strongest short-term wage growth since covid. This does not equate to prosperity. Perhaps it is you that has the restrictive social circle.
The wording was obvious. If someone though OP meant “the bottom 10% can afford more yachts than the wealthy” that’s a logic problem.
I disagree. The connotation and literal meaning of the phrase “doing better than”, combined with the comment on social circles indicates that they’re trying to suggest the poor are somehow doing well, whatever that means.
That’s how I read it, anyway. And I think that’s why they’re getting down voted as well.
Which is nonsensical, which should suggest you’re misinterpreting.
Doing well… proportionately. The talk was about growth/lack thereof.
Proportionally, having a penny is infinitely more than having nothing, but I still can’t buy shit with a penny.
Take your “proportionately” logic and shove it. Shit is bad. And it’s bad because capitalism has consolidated wealth at the top. Capitalism has run its course and has failed. It’s time to move on.
The wording is obvious to anyone with a brain. So given that this is lemmy, you’re absolutely right and I’ll dumb it down. My apologies.
I think it’s unfortunate that you’re being so hostile. It was an interesting point and very good sources that you brought to the discussion. But you’ve decided to play the "you’re all ‘autists’ " card.
The fact that this doesn’t matter is why I’m being hostile. Bunch of idiots in here. If you’re interested in discussing it I’m absolutely open to that. It’s the ones who fail basic reading comprehension that have my scorn.
None of this matters when low income people have been getting screwed for 30 years. 3 years of growth means almost nothing when you put it in proper context. It’s just a way for the upper class to gaslight people.
There are people out there still getting paid $9 an hour which wasn’t liveable 15 years ago when that was my wage. If this trend continues, calling it wage slavery won’t be hyperbole anymore.
Plus none of these articles talk about the middle 80% who have not seen their pay keep up with inflation over the last 5 years, or the fact that the price of many goods has exceeded inflation on top of that. Not to mention the housing crisis.
It’s not hard to figure out why people think the economy sucks.
There are now fewer people out there still getting paid $9 an hour. Why are you against progress?
“Things are better but still not perfect therefore this is meaningless” is a terrible take.
Yes, bottom 10% are doing better and the top 10%. That means the middle is getting hollowed out and the whole thing turns into a very divided society. That’s not a good thing.
It’s not a good thing, but it’s better than the blatant “rich get richer, everyone else gets fucked” economy we’ve had for the past few decades.
And doesn’t it make sense that we improve the situation of the poorest first?
and now you have a rich get richer, almost everyone else gets fucked economy. Yay, progress.
Looking at history, it feels more like an attempt to make sure the poorest don’t fall into the “nothing left to lose” category that can cause so much trouble.
That’s because it is. That’s the point of welfare, give the poorest something to lose and they won’t revolt. Even if it’s the most meager, unfair, dehumanizing scraps.
Oh no, what a…terrible…thing…?
Yes. Things were more bad, and now they are less bad. Vote in more Democrats, and things will continue to get less bad. Eventually, things will be good. That’s how progress works.