this post was submitted on 13 Jul 2024
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[–] [email protected] 97 points 3 months ago (31 children)

The fuck metric are they using for the economy???? The billionaires wealth increase? The stock market? Because I can't afford my rent or to feed my fucking family. Fuck off with your bullshit.

I don't blame Biden for it, I blame the orange man. But the economy isn't an exclamation point that should be used for the average person. The economy fucking sucks. EVERYONE HAS JOBS!!! .... Yeah.... they have 3 of them... start looking at the purchasing power of that money, not just the dollar amount.

[–] [email protected] -5 points 3 months ago* (last edited 3 months ago) (10 children)

Wages are up, and inflation is down. The economy isn't roaring, but it's a hell of a lot more stable than what Biden was handed in 2020. The examples you are offering, while certainly valid for the folks in your community, are anecdotal. The facts are in the data. This country is too big to determine its overall economic health with a localized eye check. Lots of folks are struggling. Lots of folks are also thriving.

[–] [email protected] 5 points 3 months ago

Comparing against COVID joblessness is a hell of a premise. I would argue it’s a much better measurement to use a ratio of rent/mortgage to income. It is undeniable that the cost of housing has far outpaced real income. Anecdotally, this has become much worse since the pandemic.

Additionally, averages are just averages. A decent average doesn’t negate the negative side of that average. In many ways, the current US economy is truly the best of times and the worst of times. If the cost of housing wasn’t so ridiculous, the other price increases would be more tolerable.

For some context, here’s a recent NPR article of the cost of housing: https://www.npr.org/2024/06/20/nx-s1-5005972/home-prices-wages-paychecks-rent-housing-harvard-report

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