News

Recession is when the rich temporarily lose money

The first problem is that one group is talking about one thing and another group is talking about another thing but they both call it the same thing.

Then when the normal American who believes we're in a recession is told we're not in a recession, they look at their bank accounts and resent being told they don't know what they're talking about. Resentment breeds a defensive stance and isolationism.

So many people are told they don't know what they're talking about these days. Meanwhile, fringe organizations (or what used to be fringe) are happy to comfort those who've been told they're idiots.

This isn't a political aisle or philosophical issue. This is about general intelligence. This is about taking your face out of your screen and looking up and around your environment - or, seeing the forrest for the trees. You may not give a crap about anything other than your wallet but a veiled perspective is going to warp your reality.

There's a lot to criticize in politics / everything today. It would be nice if people were using facts to inform their criticism. It would be nice if people weren't getting their facts from social media and what amounts to today's version of the check out aisle tabloids.

They also think it's bidens fault.

It's not a recession if it only affects the lower classes

The article defers to NBER but then says they are purposely excluding inflation and the higher cost of living from their criteria. Call it whatever you want, but if you're going to use a definition most people don't use to pretend there isn't a problem you're fucked.

That's because Americans keep being told "but we're not in a recession" in response to complaints about low wages and high prices. No one gives a fuck what the stock market is doing if we can't afford to own any. We don't care that "job numbers are up" when none of them pay enough to keep up with doubled grocery costs in the last 3 years. And don't even start on "CPI figures" that are waved in our faces as if that shit even comes close to measuring the real inflation that real people are paying for on a daily basis. It's so understated it might as well exist in a parallel universe.

The reason this ends up blowing back on Democrats is they very much want the narrative to be "see guys everything is fine elect Biden again" but everything is very much not fine for the average Joe and so that narrative is irritating. Of course, Biden got handed a shit sandwich by the previous moron whose choices like absurdly low interest rates and PPP giveaways kick-started the inflation that has characterized Biden's term, but that is lost on many voters. Dems need to directly address voter frustration and stop bandying useless figures like stocks and job market and CPI about. When I see prices go back down at the grocery store because the administration shit down the throats of companies for making excess profits, then I'll credit Biden with saving us economically. Til then, it's just noise.

The stock market is up. Only poor people are down. No recession.

It may not be a recession, but our economy is in shambles. It turns out, all that money that was supposed to trickle down for over 40 years didn't. Apparently if you let the rich keep their money, they do. Who woulda fuckin thought.

What are we gonna do about it? Bitch on the internet, cause if we even got a general strike going, we would just be slaughtered selectively and demonized universally until the protest dies down. All because we would dare to ask for our fair share.

More than half of Americans — 56% — mistakenly believe the U.S. is currently in a recession...That's not the case...The U.S. economy, as measured by GDP, is growing.

I think it shows that GDP is not necessarily a very good measure of how an economy, or society, is doing. GDP can go up for reasons that don't really have anything to do with the lives of average people improving in any meaningful way. Plus, the rate of growth in Q1 was, what, like 1.5%? That's very modest growth. The economy is not exactly roaring.

So GDP is growing and we're not in a recession, but that doesn't mean the economy is "good" or "strong," necessarily. It takes much more to determine the strength of the economy than just looking at GDP figures.

It is. Stop fucking lying

We are not in a recession. The problems with wage stagnation are not some temporary hiccup in the economy. It is a systemic problem. Stop conflating the two, complaining that a macroeconomic term with a very specific meaning isn't defined the way you want it to be. Stop expecting the problem to heal itself if the fed lowers rates or taxes get nudged up or down or whatever. We know how to fix wage stagnation because we have done it before. Regulation. Labor protections. Minimum wage increases. Wage stagnation occurs in the absence of these things, and they can only be done by Congress.

As the daily show bit pointed out, the type of people who actually reply to these surveys gives very skewed results. I never respond to any of those and doubt any of you all do either.

American economic output is not in a recession, this is important for a lot of things but does not solve domestic issues with the economy. The majority of US workers are seeing a massive economic recession in terms of wages vs costs of living. But the distinction is really important because it proves that most if not practically all of our hardships are fuelled simply by greed of the owning class.

Money printer go brrrrrrrrrr

Boy trickle down economics sure is looking GREAT, huh?? Share holder success is better than ever, now if we could just do a thing about those pesky peasants... They better not go after poverty assistance or work benefits, that comes out of our taxes, can't have our portfolio drop a fraction of a percent, can we?? Yep we'll just exploit the masses until there's nothing left and then... Uh...