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.
More than 60% of people poll they are okay financially. But the 30something% are much louder than the people who are not struggling
Facts: workforce participation rate never recovered from 2007, the cost of medical insurance/tuition/housing have all outpaced wage growth of all but the wealthiest people, meanwhile the earning ratio between the lowest paid and high paid workers have exploded.
You can call me any nasty name you want but we are in a recession. When I start seeing those numbers I listed change is when I will stop saying that.
Thank you for perfectly illustrating my point. We are NOT in a recession. I don’t know the correct terminology to describe the facts you’ve laid out but “recession” is not it.
Pretty sure I used the correct word. If economists need a safe space away from it I am sure their banker friends can pay someone else to build it for them, you know with my money.
You’re wrong and ignoring everything you’ve been told to rationalize your feelings and direct your resentment. You don’t get to re-define words because you’re upset.
“Recession” is a specific word based on specific measurements. https://www.investopedia.com/terms/r/recession.asp
The problem is that you’re angry at the wrong thing. As I said, there’s a lot to complain about and it would be nice if people knew what it was they were complaining about. Like, you’re yelling at Netflix because you don’t like that HBO is now called MAX.
No you are wrong. You and your economists friends took a word that had a well known meaning and redefined it to get the result that they wanted. Then have the audacity to demand that we all use the definition they created. They can all go and fuck themselves for all I care.
Recession: noun, bad shit happening to poor people for a while.
I get it in a way. They read 1984 and decided “hey this is double plus good way of getting what I want. Rather than deal with the real universe I can just redefine words and declare everyone who disagrees a heretic”. Wealthy = scarcity, peace = war, slavery = freedom, and recession = economic boom.
It is so so much easier to just attack people compared to solving issues. I can’t wait until the day when your economists friends decide to redefine climate change as normal.
K. You’re just delusional. Again, thank you for very perfectly illustrating my point.
You’re even doing the defensive thing I described when I’m on your side and agreeing with your frustration.You are not on my side. I care about truth.
Nah, this is about the fact that the moment a Republican is in office, half of these people will immediately think the economy is doing great.
Every presidential election I have seen where the incumbent is a Democrat has followed the exact same pattern.
They also think it’s bidens fault.
I don’t think it is his fault.
Money isn’t real, we made it up. Anyone who continues the lie of capitalism is contributing to the problem.
We’re sitting here debating literal actual monopoly money.
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.
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.
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.
Minimum wage increases should be tied to congressional wage increases.
Total compensation packages including benefits derived from speaking engagements, endorsements, discounts for family members, and insider trading. Have multiple independent auditing agencies produce numbers and make it a ten year federal offense prison sentence to take a bribe for determining it.
Agree, while we’re not there, progress is being made.
https://www.epi.org/publication/bidens-nlrb-restoring-rights/
Summary: The National Labor Relations Board (NLRB) during the Biden administration has supported workers’ rights to form unions and engage in collective bargaining, standing in stark contrast to the Trump administration’s anti-worker record.
Key findings
President Biden has nominated experienced worker advocates and increased funding to the NLRB—the independent agency responsible for protecting private-sector workers’ organizing and bargaining rights. The Trump administration, however, appointed corporate lawyers to leadership positions and hollowed out the agency by not filling vacancies.
President Biden’s appointees have advanced the NLRB’s mission by addressing issues such as employee status under the law, the scope of concerted activity protected by the law, the representation process, and remedies for violations of the law.
The Biden NLRB has made significant progress in undoing the damage inflicted by the Trump administration’s appointees and in restoring workers’ rights, but more remains to be done.
Structural weaknesses in the law continue to be an obstacle to workers seeking to organize unions and engage in collective bargaining.
We are not in a recession.
there is no war in ba sing se.
It is. Stop fucking lying
The stock market is up. Only poor people are down. No recession.
Oddly enough according to the same survey 49% of Americans believe that the S&P 500 is down (it isn’t)
I presume that 49% doesn’t trade stocks
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.
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.
I do, every chance I get.
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.
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…
Money printer go brrrrrrrrrr
