Because this isn’t a strong economy…
The rich are making money, but they’re just hoarding it
So amount of money in circulation keeps decreasing, and prices keep increasing because in capitalism if a company isnt increasing profit margins, the stock price isn’t going up. And they finally figured out calling corporate greed “inflation” means around 2/3s of the country will accept it
Either we drastically raise taxes soon, or shits about to get really really bad.
Very few people will just sit back and calmly starve to death
The amount of money in circulation isn’t decreasing though. Wages have increased more than inflation, almost every month in the last year. Especially for median wage/salaries.
When they say strong economy they are talking about spending, jobs etc.
The answer is in the first few sentences:
Housing crisis
The recent increase in wages isn’t even a patch on the vacuum the wealthy are using. If that was even remotely true then we wouldn’t be seeing this article.
If that was even remotely true then we wouldn’t be seeing this articlle
Did you read the article? Because it explains why
Short term holding - link
Long term holding - link
From the article - Food is up 25 percent along with rising rent and utilities.
I’m not sure you understand what economists mean by circulation. Money is going up and not coming back down. It has been doing this for decades. The more money that gets trapped at the top and put into the stock market means less money for the working class as a whole. While that sounds like some commie shit, it’s really not. Because the working class is the major demand generator in a capitalist economy. Economists want to see that money making the rounds through the entire economy because anyone left out of circulation will impact demand over the long term (and by the time it’s a short term problem you’re looking at a demand crisis which usually results in pitchforks).
Now we need to talk about rent in the economic way. That profit a monopoly extracts because the market is not competitive enough and it can charge more without providing more value. Land/house rent going up is the classic. That’s why the two words are the same. But other necessities are often seen in history as well, including food and utilities as also mentioned in the article. This is relevant because the world recently figured out that the inflation of the last couple years was actually greed and not cost push. They literally just figured out they could use it as an excuse to raise prices well beyond what was necessary. Of course that’s not a surprise to anyone who listened to CEOs publicly telling their stockholders they were doing it.
So when you assert that it’s not a problem with circulation because rent went up. I have questions about you understanding the economic meaning of those words. The primary means of rent seeking behavior have gone up and wages already were not keeping up. Nobody cares if wages beat inflation last month. We need them to beat decades worth of inflation and stagnant wages. We need 47 trillion dollars back from the wealthy leeches who did nothing more than raise prices and pay their workers less.
Now we need to talk about rent in the economic way. That profit a monopoly extracts because the market is not competitive enough and it can charge more without providing more value. Land/house rent going up is the classic.
Just an FYI, you’re using all of these terms incorrectly.
We need 47 trillion dollars back from the wealthy leeches
And your lack of understanding is why you say silly things like this.
Perhaps don’t go on at length as if you know about a topic when your only exposure to said topic is internet forums.
Lmao. No. Rent seeking behavior is economics 101.
Indeed. Actual rent-seeking is, for sure. That’s why it’s kind of weird you’re confused by it.
A strong stock market is not a strong economy. The economy is the flow of money exchanging hands, which is down because people are paid less than ever compared to the cost of living. This leads to starvation.
Hey NBC, an economy that’s not providing the basic necessities for working families is not a strong economy. No matter what the pretty graph says.
iT’s NoT a ReCeSsIoN (because we don’t like you having a word to call it, so we’re the ones who get to redefine it however we wish)
The definition wasn’t redefined. You just always heard the rule of thumb and thought that was actually the definition. Like, let’s be honest here, have you ever even taken an economics class outside of HS? When you learned how it’s actually determined, instead of thinking “I’ve learned some nuance and I will incorporate this into my future conclusions” you rejected it and concocted some conspiracy to explain it.
It’s strong for the people who matter.
Not if it keeps going like this. The rich will find out really quickly that they have nothing more than funny bits of colored paper and a gentleman’s agreement with a Bank’s internet server. Strong economies start from the bottom up and die from the bottom up. Catering to the top has always been a recipe for disaster.
Strong economy == corporate price gouging while everyone else’s wages stagnate.
It’s a great economy if you’re already rich.
Since all elected officials are either rich or grabbing everything they can to become so, they can’t understand what it’s like for people on minimum wage or a fixed income.
We need more attention on stats like “what percentage of people have zero savings”, “what percentage of the median worker’s income is consumed by basic expenses”, “how many people didn’t eat yesterday”…
Some practical advice for donating to food banks: Give money instead of food.
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They know exactly what they need. You don’t.
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They have partnerships and buy in bulk which makes that same dollar go further in their hands than in yours.
That article has changed how I give to food banks since I read it.
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In a household of four with two full time incomes (both teachers, so take that with a grain of salt), we are at the point that the food budget is the only thing left to cut. We have canceled any subscriptions, cut all other spending, and often skip lunch/breakfast or eat Ramen noodles to save the bulk of our money for the kids and feed them better. I’m sick of beans and rice, BTW. Due to the nature of our jobs and the outside of school hours (which we are compensated for), side hustle is not an option. We would like to actually be present and part of our kids lives. I keep getting told “it gets better,” but the stress of making the bills and feeding the family is relentless, and that says a lot since we are way more fortunate than most. We need change.
There is often change. But it never gets better. It has never gotten better and it never will.
factually inaccurate. look man, I’m a cynic, but saying the New Deal didn’t improve people’s lives is bullshit.
It’s a strong hoarding economy, the rich and ultra-rich are hoarding wealth and companies are raising prices for everyone else to feed their insatiable demands for profit. There’s nothing strong about this economy for the majority of people.
Utilities have also been on the rise, and this year Ortigoza isn’t planning on turning on the home’s heater, even with temperatures dipping into the 30s at night. Instead, she plans to wear extra clothes around the house and bundle her daughter in blankets.
I just want to say… Don’t do that.
If you want burst water pipes, then that is how you do it.
Instead, let your house drop to uncomfortably cold temperatures, but with still a buffer above freezing. The thermostat is only accurate for wherever it’s placed in the house. It’s not able to tell you what temperature your pipes are at the distant ends of the house.
If you’re going to turn the heat off at below freezing, then you need to empty your pipes first, and no one is going to do that.
But yeah… I felt I needed to get that out of the way first.
Anyway, wages and unemployment are getting ‘better’, but that means very little if it’s still not a living wage.
That’s capitalism working exactly as expected.
The economy isn’t strong, for one. Rich people getting richer isn’t indicative of a healthy economy. The entire working class can barely afford their god damned groceries, 40 hours a week isn’t even enough to live on for most people.
The economy is dogshit right now. Fuck these corpo ghouls.
The economy is dogshit right now.
It’s not so much the economy that’s dog shit as it is the policies regulating the economy that are dog shit. Better redistribution of wealth would go a long way to alleviate the economic inequality of the US economy.
Of course, that would require implementing policies that many, especially conservatives, are not willing to implement.
As we all know, the word “economy” means “rich people’s yachts”.
Nice ‘economy’ you got there. Be a shame if this Dewalt cordless drill with 40mm carbide holesaw happened to it.
Glad people are starting to wake up to this.
Same reason I hate it when the housing market is described at “strong” in Australia? In what way? Is the market providing housing for all who need it? No?
Then it’s weak and I’ll have none of this “strong” housing market bullshit.
The housing market being strong means homes are selling. Homes selling means prices rising.
I know what they mean, I just think it ought not to be used, it’s a euphemism.
It’s not a euphemism, you’re just not the person benefiting from the strong market because you are not currently a homeowner.
It’s not benefitting anyone who buys a house (me included…) to live in either, only those who will sell for a profit.
We’re tying up money where it provides no value beyond the actual utility of the house (what it costs to build, maintain, the location etc).
It would be much better if that money were invested in businesses, which actually provide value to society.
Instead, we’re stuck with literal decades of debt, or stupidly high rent.
It abosultely is a euphemism for the vast majority (including home owners).
It’s not a euphemism because it is describing actual, literal market conditions. You won’t benefit from every strong market. Business owners do not benefit from a strong labor market. Freight brokers do not benefit from a strong driver market.
Tight and loose markets are a pretty basic concept man. There’s no language wizardry going on here.
Good economy: Rich people get much richer. Poor people stay poor despite the good economy.
Bad economy: Poor people pay to keep rich people rich, despite the bad economy.
Anyone saying the ‘economy is strong’ doesn’t know jack shit about economics let alone macroeconomics.
It’s relatively strong given all the crap that’s happened in recent years. Inflation is finally down, unemployment remains low, median wages have grown faster than inflation, etc. Things aren’t great for a lot of people obviously, but shit could easily be so much worse.
Supply side is doing great!
