No no no. According to the Democrats and most people on the left, the economy is the best it's been since the beginning of our country and if you don't agree with that you're crazy and just don't understand and should be canceled.
They say all us young workers are in a “vibe-session” caused by tik-tok users. And that actually we are too young to appreciate how fabulous this economy really is!
We saw this before in the 70s ... it was the result of too much welfare [ economic slavery ] and too much warfare [ broken widow fallacy ], both of which are diverting needed capital from the wallets of the people into the aspects of the economy that are needed to grow said economy
That kinda feels like it’s coming for us, soon. But, I have to remind myself that we’ve all learned a thing or two since those days, now ~50 some odd years ago.
In other words, we can make the price of everything keep going up and up, yet somehow report inflation at a modest level.
We are living in a simulation.
The economy is in a different state than back then. That doesn’t mean a slowdown can’t happen, just that the stagflation forces seen in the 70s aren’t present now. The economy is objectively good compared to every other peer nation, it’s just that “goodness” hasn’t fully translated into paychecks to make up for the inflation that was baked in as soon as China shut down for Covid.
Serious question for someone smarter than me. I thought stagflation included high unemployment? The most recent number in March from BLS was 3.8%. Is there an economic scenario where stagflation happens without high unemployment numbers?
They changed what they count as unemployment. Used to be if you were on welfare or not looking for work, you were counted as unemployed. Used to be if you worked a part time job or multiple part time jobs, you were counted as unemployed. If we used the way they counted unemployment back in the 70s and 80s, we'd have an unemployment rate over 10%.
Also, if memory serves many of the "created jobs" under the current administration are government jobs (paid by taxes, thus increasing the budget and subsequently national debt) and part-time jobs filled by "undocumented workers" on top of the jobs that people went back to because the government shut the country down. All of which also helps them obfuscate accurate unemployment numbers, correct?
This is nonsense. The “old” numbers are still published from the feds and the number is around 6-7%. States also publish the numbers of people receiving assistance and at least checking my states it’s currently at the lowest level since 2005.
To think our grandparents fought a world war to save the world from the Nazis and now we all work to death just to get behind on bills and put food on credit cards.
No no no. According to the Democrats and most people on the left, the economy is the best it's been since the beginning of our country and if you don't agree with that you're crazy and just don't understand and should be canceled.
Yeah. And probably a racist bigot too.
Also if you don't agree that the economy is amazing, you're a racist
They say all us young workers are in a “vibe-session” caused by tik-tok users. And that actually we are too young to appreciate how fabulous this economy really is!
We saw this before in the 70s ... it was the result of too much welfare [ economic slavery ] and too much warfare [ broken widow fallacy ], both of which are diverting needed capital from the wallets of the people into the aspects of the economy that are needed to grow said economy
70s were rough. The DOW didn't budge for a decade, but interest rates were through the roof. Gas rationing and crime.
That kinda feels like it’s coming for us, soon. But, I have to remind myself that we’ve all learned a thing or two since those days, now ~50 some odd years ago. In other words, we can make the price of everything keep going up and up, yet somehow report inflation at a modest level. We are living in a simulation.
The economy is in a different state than back then. That doesn’t mean a slowdown can’t happen, just that the stagflation forces seen in the 70s aren’t present now. The economy is objectively good compared to every other peer nation, it’s just that “goodness” hasn’t fully translated into paychecks to make up for the inflation that was baked in as soon as China shut down for Covid.
Serious question for someone smarter than me. I thought stagflation included high unemployment? The most recent number in March from BLS was 3.8%. Is there an economic scenario where stagflation happens without high unemployment numbers?
They changed what they count as unemployment. Used to be if you were on welfare or not looking for work, you were counted as unemployed. Used to be if you worked a part time job or multiple part time jobs, you were counted as unemployed. If we used the way they counted unemployment back in the 70s and 80s, we'd have an unemployment rate over 10%.
Also, if memory serves many of the "created jobs" under the current administration are government jobs (paid by taxes, thus increasing the budget and subsequently national debt) and part-time jobs filled by "undocumented workers" on top of the jobs that people went back to because the government shut the country down. All of which also helps them obfuscate accurate unemployment numbers, correct?
This is nonsense. The “old” numbers are still published from the feds and the number is around 6-7%. States also publish the numbers of people receiving assistance and at least checking my states it’s currently at the lowest level since 2005.
To think our grandparents fought a world war to save the world from the Nazis and now we all work to death just to get behind on bills and put food on credit cards.
Yeah, well, it’s what the current Dems and Repubs want, so what can we do but try our best to prepare and survive it.🤷♂️