Fox cable hosts are doing the job of the chair of the White House Council of Economic Advisers, Jared Bernstein, by admitting that the economy under President Biden is strong. Bernstein joins MSNBC’s Ali Velshi to discuss the latest “expectation-busting” jobs report.
  • abracaDavid@lemmy.world
    295·
    10 months ago

    Housing costs are sky-high. Rent is ridiculous. Good luck ever trying to own a house. And yeah, cost of living went way way up and now it’s “stabilized” there.

    And to say wages are up is just laughable. I mean, yeah people are now being paid $15 an hour instead of $10, but what does that matter when food and housing costs increased more than that?

    The data is skewed by the people that benefited from raising the price of everything during COVID-19 and then never brought the prices down.

    The rich are richer and they are the measuring stick for the economy because they own all the news sources. It is dramatically worse for the poor now than it was 5 years ago.

    Don’t let bullshit propaganda fool you.

    • Mog_fanatic@lemmy.world
      13·
      10 months ago

      I feel like this CONSTANTLY happens and people just eat it. Prices skyrocket. Then they stop rising or maybe even dip a little but still remain way higher than they originally were and… Problem solved! It’s stabilized! In fact prices are DROPPING! huzzah!

      Makes me wonder if people are really this easily fooled or are they all just being ignored? Lol

      • Cryophilia@lemmy.world
        314·
        10 months ago

        I feel like this CONSTANTLY happens and people just eat it. Prices skyrocket. Then they stop rising or maybe even dip a little but still remain way higher than they originally were and… Problem solved!

        Literally yes. Prices go up, wages go up, that’s a healthy economy. Take an economics class.

        If prices ever start broadly going down, prepare for a massive economic ass fucking the likes of which you’ve never seen and clearly can’t imagine.

        • LainTrain@lemmy.dbzer0.com
          82·
          10 months ago

          Line go up is just a cult, nothing else.

          Ideally the economy is just something you need to plan, to stay stable and anticipate environmental and population concerns. It shouldn’t need to go up or down to maintain production.

          This “homelessness goes up but so does GDP so it’s okay” shit is unworkable, cruel and unsustainable and only benefits bezos et al

          • Cryophilia@lemmy.world
            211·
            10 months ago

            Christ alive you have no idea what you’re talking about. Have you ever studied economics? At all? Or are you just posting your fee fees?

            Would you go into a hospital and start lecturing doctors on how their practice is bullshit? Sure, there are probably a lot of things that could be improved, but you don’t have the knowledge to speak about them. Take some courses, then come back and speak from an informed perspective.

            “Planned economy” is a 12 year old’s idea of how things should be.

            • Shadywack@lemmy.worldEnglish
              101·
              10 months ago

              You’re on serious damage control and spouting derivative drivel. “Take an economics class” meanwhile people who did found that set of nomics to be non sensical, because “economics” at its core isn’t about what most people think it is. Cost and worth are two separate things, and the whims of our livelihoods is decided emotionally. Not logically.

                • Shadywack@lemmy.worldEnglish
                  6·
                  10 months ago

                  Yes I absolutely have. Would you care to say anything other than “study economics”? Would you care to support your bullshit or explain for those who haven’t?

                  For the benefit of those who haven’t studied carpentry, it’s not out of line for a carpenter to explain the trade a little.

                  • Cryophilia@lemmy.world
                    13·
                    10 months ago

                    Great. So do you understand why a moderate level of inflation is a good thing for quality of life? “line go up” in a broad economic sense.

                    And do you understand how profit motives spur investment which generates improvements which leads to better quality of life? “Line go up” for individual companies.

                    And this is a little more advanced, but also a little easier to see in the real world: do you understand why every planned economy has failed to raise quality of life as well as capitalist economies?

                  • Cryophilia@lemmy.world
                    11·
                    10 months ago

                    Yes. Because if they decide to make things worse out of ignorance, then other people can’t afford food and rent.

              • Cryophilia@lemmy.world
                13·
                10 months ago

                I don’t watch youtube videos linked by people arguing in favor of something dumb. It’s a good way to waste my time and ruin my algorithm.