Rising rents coupled with high borrowing costs and low wage growth have hit some especially hard. “Lower income households are not keeping up,” Goldman said. “Everything looks great but when you look beneath the surface, the disparity between the wealthy and nonwealthy is widening dramatically.”
Everything is great, you’re just poor. Have you tried not being poor?
It’s only a recession if I can’t take my little yacht trips anymore.
“It only looks bad if you look closely so y’know, try to avoid that.”
Have you ever thought if you worked a little harder you wouldn’t be so damn poor? Checkmate tankie.
Subscribed
I found a YouTube link in your comment. Here are links to the same video on alternative frontends that protect your privacy:
People assume that when they make the same amount of money as they used to but they can’t afford groceries or rent or any form of entertainment that’s a recession but if you look at this graph they’re fucking idiots because actually we made up a new name for when that happens.
there’s basically no evidence of inflation once you exclude anything required to live or anything that shows evidence of inflation from the national inflation metrics
The inflation is only 2% narrative is so frustrating. It’s not like previous years’ price hikes went away.
“Rejecc the everdance of your eyes and ears!”
- Some say we’re in a “vibecession.”
nobody is saying that jessica
We’re in a “vibecession,” Joyce Chang, JPMorgan’s chair of global research, said at the CNBC Financial Advisor Summit in May.
Apparently somebody is saying that. From JPMorgan. Do with that what you will.
Joyce Chang, JPMorgan’s chair of global research
Obviously not the chair of marketing lol.
The same somebody who told us they wanted interest rates to rise to prevent wage increases and to encourage the poor to spend their Covid ‘savings’.
People are wrong. A recession is when
. Is the public stupid?Whom are you gonna believe, CNBC or your lying eyes?
lemmy.world:
"Right now we have a ‘Goldilocks’ economy,” said Gene Goldman, chief investment officer at Cetera Financial Group in El Segundo, California.
This is the kind of shit you expect to see in an over the top parody of capitalism. Fucking Mr. Goldman the investment “officer” (I guess they thought it would sound bad if they called him a banker) is telling you that the struggling economy is actually perfect.
If you have a little dialectics rather than dumb Econ shit you know that everything is in a “Goldilocks zone” between existence and nonexistence. If anything was different what is real wouldn’t exist. The economy is a mess of contradictions and it is in a tight balance that just means it’s still there however terrible.
They won’t use that word until bodies will be raining on Wall Street again.
The bodies raining on Wall Street was a myth from popular culture that never happened.
Only three people committed suicide that week in the financial sector. One was an overworked and over stressed low level accountant, the second a German tourist, and the third a small business owner who lost his business in the crash. No financial analysts, stock brokers, or rich people killed themselves.
I think 1$ is worth 1$ but somehow that’s not true either, but it’s not because corporations are greedy and raise their prices endlessly, it’s just how money gravity works!
“It’s not a recession! (We’re just fucking you over harder)”
There’s idealism and then there’s idealism.
“it’s not a recession… For us”
“It’s one big club and we ain’t in it.”
The inflation is ahcktually 4 percent honey
So at least 41% of Americans are worse off than clinically braindead, huh. Not surprising…
Only 40% or 31%.
Let’s not pretend the 1% or 10% cares about the average person.
