this post was submitted on 15 Sep 2023
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[–] [email protected] 260 points 1 year ago* (last edited 1 year ago) (15 children)

I'll believe the economics are better when I'm not paying markedly more for everything in my life and my salary increases.

The politicians are so wildly out of touch with the citizens.

This idea that the data is "mistrusted" or "unseen" is ridiculous to the point of incredulity. I don't care what the data says, I know what my lived experiences are and everything is getting wildly more expensive except my labor, it seems. Show me any study you want, it won't change that groceries are 30%+ more expensive, my rent keeps going up, restaurants and bars have gotten nearly 50% or more pricier and my wage hasn't grown to match.

[–] [email protected] 108 points 1 year ago (11 children)

I’ll admit I’m a high income earner. I’ve never had to watch watch what I spend but recently even I’ve noticed increases in everything.

Groceries have doubled from what I paid in 2019. I buy almost the same thing every week and I compared.

Dining out has become much more expensive. Places I used to consider a good value are now expensive.

I ordered a basic meal the other day at a local place. A cheeseburger. Fries. Drink and my friend had a salad. It was almost 59 dollars. Six months ago it was around 30 dollars.

So now I have to watch my spending as everything has increased

[–] [email protected] 83 points 1 year ago (33 children)

Dining out is CRAZY now.

My wife and I were out and about last weekend and needed to eat so we hit a Burger King.

Meals for 2, nothing crazy, was $30... at freaking BURGER KING. We don't even have a sales tax here.

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[–] [email protected] 33 points 1 year ago* (last edited 1 year ago) (15 children)

I'm just below the median income for my area. Before the pandemic, I was comfortable. I largely didn't have to worry about expenses, I could dine out a few times a month, cook meat more than once a week, buy a few hobby luxuries every few months. Could air travel for vacation once a year.

I drive a newish economy sedan, live in a decent area with one roommate, didn't have all that much but the 401(k) looked good and I had all I wanted.

Now things are tight. Just the other week, went to a bar that sold a damn good burger for $9 with fries. Could have a beer with it and get out under $20. The damn hamburger is $18 now and the beer doubled in price. I try to buy meat twice a month to eat, but my diet is far more bean and lentil based now. Eggs, while doubly more, are still cheap enough to be a frequent protein. My vacations are all at home now. I've taken to enjoying fishing, which is admittedly great, but I used to fly to Europe or other parts of the US once a year.

I do not know how folks on minimum wage get by here. Without forming a support network of other minimum wage workers to pool for rent and groceries, it has to be an insane struggle.

If this is the "improving economy", I don't want any of it.

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[–] [email protected] 53 points 1 year ago (1 children)

The economy is doing better precisely because regular people’s lives are harder. A “strong” economy means more and more off the backs of everyday laborers. Not to mention intentional raising of unemployment rates to combat inflation. The system is fucked. There’s nothing in it for me and you.

[–] [email protected] 25 points 1 year ago

Exactly this. Companies do better when they can exploit their workers for as much value as possible. That’s what a “good economy” looks like and it is the duty of every living human to hurt it.

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[–] [email protected] 132 points 1 year ago (2 children)

That is because Americans are not seeing the benefits. CEOs and stock holders are.

[–] [email protected] 29 points 1 year ago (2 children)

Imagine a world where stock grants were a standard part of all employment contracts, not just for tech workers and the like.

[–] [email protected] 38 points 1 year ago (1 children)

Stock grants for tech workers are often not worth much unless they get in super early and they get lucky.

I got more from my accrued vacation time than I got from my stock options at the last three jobs I left.

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[–] [email protected] 116 points 1 year ago (1 children)

Hard to believe it when strong economy doesn't translate to food on the plate.

Tax the rich

[–] [email protected] 51 points 1 year ago (1 children)

Hey, stock market number and GDP go up. So that means we're all doing better somehow. Right? RIGHT!?!?!!?!!

[–] [email protected] 24 points 1 year ago* (last edited 1 year ago) (1 children)

It's like when they bail out corporations because they're about to go tits up and then talk about how they "saved the economy." No you saved a company that got way too big, was irresponsible, and is holding the country hostage.

Good news all, we paid the ransom!

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[–] [email protected] 78 points 1 year ago (3 children)

If everyone says they feel like the economy is bad, but the metrics say the economy is good, maybe the metrics are wrong or measuring the wrong things!

[–] [email protected] 57 points 1 year ago* (last edited 1 year ago) (14 children)

Possible; it's also possible they're believing lies being told to them by people who benefit from others having false beliefs.

Information asymmetry often works to the benefit of employers and landlords, for example. If workers and tenants do have lots of options, but don't believe they do, they're more likely to settle for shitty jobs and housing.

There's a common lie told by upper managers in a lot of industries: "Our business is perpetually in danger; so we can't afford to pay you more because then we will go out of business and you'll all lose your jobs anyway."

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[–] [email protected] 23 points 1 year ago

This. Wallstreet is doing great. The average US citizen not so much. But politicians really only care that CEOs are still getting their bonus checks, not that minimum wage workers are having to work multiple jobs to just barely scrape by. We need to reevaluate the metrics we use to drive policy decisions because they're rewarding the people that need it the least.

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[–] [email protected] 77 points 1 year ago (5 children)

Does the definition of "economy" actually include people or are we just looking at corporation numbers because I can believe THAT economy is going strong but there's no way I believe that the entire economy is doing just fine. You don't need to look further than the grocery store prices to see that.

[–] [email protected] 39 points 1 year ago* (last edited 1 year ago) (3 children)

Or housing prices compared to local wages

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[–] [email protected] 74 points 1 year ago (1 children)

Nothing, not even basic necessities like food, is even remotely affordable anymore, let along a roof over your head. Yet they still want us to work to the bone like slaves and have babies while somehow not having a place to live. Biden has passed some great legislation but the economy is nowhere near ok for anyone except the 1%.

[–] [email protected] 35 points 1 year ago (6 children)

Takes time to turn the ship around after only a single term of conservative rule. It's the same in every country. The right ruins the economy and then the left have to fix it while the right spends all it's time in opposition blaming the left for the mess they themselves caused (while trying to sabotage any reform).

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[–] [email protected] 68 points 1 year ago (5 children)

People know when their lives are getting better or worse. You can explain to them all you want about per-capita GDP, adjusted vs raw unemployment, whatever other jargon-crusted, hyperabstract measurement you care to explain, but people know the world they're living in. They know whether they're struggling to get ahead, struggling to stay even or struggling to slow the rate at which they fall behind.

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[–] [email protected] 63 points 1 year ago (1 children)

Unemployment numbers don't mean a damn thing when wages aren't enough to live on. The profit has spoken and it says that the working class can starve outside for all it cares.

[–] [email protected] 57 points 1 year ago* (last edited 1 year ago) (2 children)

I hate both sides. How's the economy doing good when my wife and I work 40+ hours a week, both have college degrees, and can barely afford a 2 bedroom rental apartment in a shit part of the country let alone ever think about owning a house?? Btw second bedrooms for our son.

[–] [email protected] 57 points 1 year ago (1 children)

Economy's doing good for the wealthy.

Meanwhile the rest of us gotta make due with weakened spending power and income, COVID era social benefits being rolled back, etc etc

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[–] [email protected] 25 points 1 year ago (4 children)

Look at this privileged asshole who thinks his son should have his own room.

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[–] [email protected] 39 points 1 year ago (14 children)

Nothing indicates a stronger economy than roaring inflation, high as fuck interest rates, tons of corporate bankruptcies, and bank failures.

What a fucking joke. This timeline sucks.

[–] [email protected] 29 points 1 year ago (1 children)

"The Economy" is the state of the ruling class's bank account. It has nothing to do with whether the working class can afford housing or food. /S

[–] [email protected] 29 points 1 year ago

Except not /s

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[–] [email protected] 39 points 1 year ago (7 children)

Because, for a lot of people, the economy isn't improving.

Say you were on the verge of buying a house, interest rates have doubled, are at a 22 year high, and now you're priced out of the market.

Or, say you're like me and bought a house in 2021 with a 3.25% interest rate. You're locked in. You can't sell your house, a) because nobody could afford the 7% it's going to take to buy it and b) you likely can't afford the 7% it will likely take to buy a new house.

Refinancing isn't an option because who wants a higher rate. Ditto for a 2nd mortgage.

And this doesn't even get into rising food and fuel costs.

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[–] [email protected] 37 points 1 year ago

No I totally trust the people telling us the economy is strong despite everything I see around me. If the economy doesn't work for the people then it doesn't matter what GDP or any of the other big stats are doing.

[–] [email protected] 36 points 1 year ago (2 children)

I generally like Biden, but that's a crock of shit. Anytime news outlets claim that the "economy is strong", they're almost always talking about how it is for the investor and owner classes, not for the working class. This economy is absolute dogshit for the proles, how the hell is anybody supposed to survive under these conditions? I make OK money and I'm barely scraping by, I don't know how the fuck anybody else is still hanging on. Housing and the price of consumer goods needs to seriously come the fuck back down to Earth, it's squeezing people dry. I kind of wish people in apartment complexes would just start banding together and burn their rental offices down and just refuse to pay rents anymore, because whoever decides what "market rates" are for renting apartments are some of the greediest motherfuckers on the planet.

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[–] [email protected] 36 points 1 year ago (15 children)

The economy matter less to the individual when wage growth has stagnated and most Americans are living pay check to pay check. The economy is healthy for the millionaire class, not the every day American.

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[–] [email protected] 36 points 1 year ago* (last edited 1 year ago)

The stock market isn’t the economy… jic that’s what this article is referring to.

Uses a stupid fucking definition of unemployment, then tosses out a biased ass line disparaging peoples distrust of media.

But the poll found that 51% wrongly believe that unemployment is nearing a 50-year high rather than those who believe it’s actually low (49%).

[–] [email protected] 34 points 1 year ago (3 children)

An economy "going strong" for only those at the top isn't going strong at all.

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[–] [email protected] 33 points 1 year ago (3 children)

I think people rightly don't believe it because it's apparent that the economic machine in the United States is not built for the benefit of the average worker, it's built for the benefit of the capitalist class that's captured the government. Republicans may be more up front about upholding the status quo, but there are plenty of corporate Democrats that will support the same status quo while chasing the social capital that comes with agitating for change that more progressive groups are pushing for.

People don't have faith when they're constantly sacrificed at the altar of "the economy" without seeing any of the benefits of an improving economy. For a good example, look at how the BNSF rail strikes were resolved before Christmas last year. Rail workers were striking for very reasonable things like 7 days of sick leave per year (up from literally 0, per the contract they had with BNSF) and appropriate staffing to prevent emergencies (like what happened in East Palestine, Ohio in early 2023), and what did Biden do? Biden, the guy who campaigned as one of the most pro-labor and pro-union presidents in recent history, stabbed them in the fucking back and made it illegal to strike because an unstable supply chain around Christmas spelled "economic catastrophe". Biden would rather go to bat for a large corporation than for the workers that corporation is shamelessly exploiting.

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[–] [email protected] 33 points 1 year ago (5 children)

That’s because for us actual people it’s not getting better, everything is expensive as shit. Politicians are living in a different universe

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[–] [email protected] 32 points 1 year ago (4 children)

How is the economy booming when Arizona Iced Tea is $1.29?

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[–] [email protected] 31 points 1 year ago (12 children)

The economy! Awesome! So we going to raise wages. What's the plan?

Nothing?

Oh, we're going to do nothing...

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[–] [email protected] 30 points 1 year ago (1 children)

The cost of literally everything is outpacing my income like Usain Bolt racing a sleep deprived tortoise.

"the economy" doesn't mean shit if it doesn't translate to the fruits of our own labor.

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[–] [email protected] 26 points 1 year ago

Well, yes. If you are a high-income earner or if you make most of your money from rents or investments ... the 'economy' is strong. For the rest of us - we have to make choices between healthcare and food.

[–] [email protected] 24 points 1 year ago (2 children)

The stock market isn't the economy regardless of what they try to convince us of.

When so many people can't afford to buy food, let alone homes while being fully employed - the economy isn't working.

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[–] [email protected] 23 points 1 year ago

tell me what the housing and rent inflation rate has been since 2010. We all know the economy is fucked. A lot of this bullshit did happen during trump's artificially low interest rates.

[–] [email protected] 22 points 1 year ago

That's because the average American doesn't benefit from a "strong economy".

[–] [email protected] 21 points 1 year ago

Yeah. Record breaking costs and record breaking profit margins as far as the eye can see. Fuck off with this bullshit.

[–] [email protected] 21 points 1 year ago (11 children)

Meanwhile, gas prices are driving up the cost of everything. again.

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