this post was submitted on 16 Jun 2024
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Wait, are "times tough", or are we in a "great" position, economically? I can't keep up.
But in all seriousness, this all boils down to a simple truth:
Low and middle-class workers today are in far worse positions than our parents' generation(s).
We can't afford homes. We can't afford childcare. We can't afford healthcare. Many of us can't even afford food consistently.
That is where we are at, bottom-line.
Arguing about percentage gains among certain groups belies the fact that this is a shitty economic system, that funnels money upwards.
Do we sometimes claw back a few steps? Sure. But praising the 2 steps forward, while ignoring the previous 10 steps back, just comes across as caping for it.
One particularly depressing graph is home ownership among Millennials. As of 2019, that number sits at 43.3%. But in the year 2000, that number was 20%. The oldest millennials were born in 1981, which means they were 19 years old in 2000.
So at minimum, HALF of the Millennials who own homes now, were rich kids who had their homes bought for them as highschool grads. And that was just the ones literally born in 1981-82. How many of the new millennial home owners are just rich kids who were younger millennials?
This economy is fucked.
I'm sure boiling frogs appreciate when you reduce the heat by a couple degrees, but it doesn't mean they're in a good position.
Dude you're putting up a spirited drive towards this conclusion you are trying to bolster. Sure. One more message maybe.
I don't actually disagree with anything you just said. There are two ways to look at that bleak reality.
I'm not into the idea of indefinitely disagreeing with every new location you wanna move the goalposts to. I will agree with you about how fucked things are on a generational time-scale, and the urgency of fixing it.
Which is why I like identifying honestly when and why things are moving in the right direction
No dude, I have literally blamed Biden for nothing. He has no blame, but also no credit, because he doesn't control the economy.
New goalposts I do not have time for but fortunately there are a couple of articles which go into why this is wrong pretty comprehensively.
Edit: TL;DR in addition to normal interest-rate stuff and etc, he raised corporate tax by around a trillion dollars which he then sank into among other things domestic manufacturing and infrastructure, and he staffed the NLRB with actual labor people which enabled them to support a lot of these union fights which have been winning gains recently
I keep saying I don’t have time and then you keep suckering me into swinging at wherever the new goalposts are. That’s really it though