If this economy is healthy you're using bad metrics.
this post was submitted on 05 Feb 2024
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I had a philosophy prof in college who had a pet peeve about movie buffs who use box office numbers as a metric of success. It makes sense for the people profiting to look at it like that, but it killed him cinephiles would adopt that perspective to quantify success over other more artistic markers of a well-made film.
Or a narrow definition of “broad”.
The moment something becomes a metric it ceases to be a useful metric.
"VantageScore’s Tavares worries that the recent reintroduction of student loan payments could more acutely impact these customers in their ability to repay their debts.
“Folks are scrambling to pay these obligations that they haven’t had to pay in three years, and it’s hitting exactly the demographic we are talking about here: the younger folk, less affluent folk,” Tavares said."
The loans thing she doesn't help, but it's the rampant and blatant price gouging for consumer goods that is a huge culprit. But no one seems willing to talk about or address that.
The loans thing she doesn't help, but it's the rampant and blatant price gouging for consumer goods that is a huge culprit. But no one seems willing to talk about or address that.
Thats because they assure us inflation is under control. Though, its easy to say that when CPI numbers are continually massaged.
Jerome Powell should be tarred and feathered.
Actually ("ECKKTUALLY?") inflation has come down in a big way in most areas. Food is still high, but gas and other commodities have seen huge drops. The job market is strong and the stock market is more robust than it ever has been. But people tend to overlook those things when they aren't getting more money into their wallets....naturally.
You're getting downvoted but are also totally correct. Prices for all sorts of stuff have come way down, eg cars, gas, lumber, electronics, but people don't tend to buy these things as often as groceries, which are still elevated, so it still feels pervasive. Add this on to crippling socioeconomic inequality and there's certainly a recipe for dissatisfaction here though
That doesn't bother me, I know when I've being downvoted it's because I've said something truthful that people dont want to hear. If all I wanted was being upvoted, that would pretty much defeat the whole purpose of being on social media. I certainly don't come here for the "approval" stamp.
There is still crippling socioeconomic inequality, but there has been ever since I've been alive and I'm almost 65 now. And there's always been dissatisfaction over it, and large contingents of people unwilling to accept any positive news of the economy because they have gripes about some parts of it.
If 2/3 of people can afford to pay the higher prices for basic necessities and 1/3 cannot it’s not difficult to see the direction things will move.
In capitalism agency=price discrimination and when some people are willing to pay 300% for potatoes and milk the people who cannot are SOL, and increasingly so as things progress. Obviously the manufacturers will set the price to wherever they’re profiting the most. This is also why inequality throws a wrench in the myth of well functioning capitalism.
Either governments need to step in or people who can afford to pay 300% need to refrain on principle (the latter seems pretty unlikely on a mass scale).
or people who can afford to pay 300% need to refrain on principle
We couldn't even get people to wear masks during a pandemic. You think we can get people to stop buying shit they can afford at extortion rates? GPU market already shows how that worked.
Ding ding ding! Nailed it!
Well, my situation anyway. And now I’m looking at skipping multiple payments because my new (to me) car has multiple problems that can’t be babied along anymore.
Powell and Yellen have fucked America
Greedy corporations and billionaires have fucked us
Same team
I’m old enough to remember both Powell and Yellen gaslighting the American public on inflation for years
This is just false