I’ll believe it when I stop getting only rejection letters for entry level jobs.
Rich people’s money is thriving under Biden. So why don’t Americans believe it?
Oh, we do, we just don’t like what’s happening for the rest of us.
Because, as it has been for the last 40 years, it’s disproportionately going to the wealthy.
As long as private shareholders are having record quarterly earnings, almost all economists, hired by wealthy organizations largely to push the narrative that benefits those organizations, will of course declare victory.
Economists also generally defend our “free market” rigged crony capitalism as the only way too. They’re literally the priesthood of this grift.
https://www.cbsnews.com/news/rent-homelessness-harvard-report-center-for-housing-studies/
The homelessness epidemic is getting worse. Our people are dying in the streets in record numbers, please, go down to your nearest homeless tent city in every major population center in the US and tell them they’re being dramatic.
This economy no longer cares about customers or employees. The Reagan/Kemp grift eviscerated the customers first, employees second, investors last model. Now it’s private shareholders first and only demanding companies sabotage their long term future to goose their next quarter with layoffs, anticompetitive behaviors, and tax cheats. Why care about the products/services you literally exist to provide when you’re part of an oligopoly, buying and killing any potential competitors trying to improve your economic sector’s product/service? At that point, you can make shadows of what you used to make and your captive consumer base has nowhere else to go. Despite its primary selling point, market capitalism’s end goal has been thoroughly proven: to END competition.
Capitalism is eating its own tail having conquered the monopoly board and having no more meaningful new markets left to metastasize in and exploit.
There needs to be laws passed that change the structure of “fiduciaries”
Companies should exist for their employees first, customers second, and then shareholders, in that order. Pay the people creating the product/service as much as possible, put out the best possible product/service at the most competitive rate possible, and if there’s anything left over the shareholders get their cut.
Ironically, if corporations actually did this, they’d likely have plenty of success. It’s just mind boggling that the lazy fuckers pushing numbers around on a computer screen are the ones considered fiduciaries
There is such a business structure. It’s called a worker co-operative. They’re pretty common in some areas (e.g. grocery) where they are able to compete with and even win against traditionally-owned grocery store chains. For example, one of the largest grocery co-operatives in the US, WinCo foods, competes with and actually beats the likes of Walmart and Kroger (called Fred Meyer here) in the price department. They do have some outside investment (IIRC), but the stores are mostly owned by the employees that work there.
I think we ought to encourage these types of businesses through extremely favourable tax treatment. I’m talking a 0% tax rate on dividends paid by co-operatives to workers. At the same time, it’s understandable that most people start businesses for personal profit, which drives the creation of most businesses, so I think a hybrid system wherein the owner starts with a maximum of 50% equity in the company is fair, and the rest is owned by the workers. Imposing an expiration on the owner’s shares (say, 50 years?) would mean that after the founders die, the entire company will be owned by the workers, while not extinguishing the motivation for people to establish businesses in the first place.
The economy means rich peoples yaght money.
I looked over the metrics in the article and none of them approximate what percentage of Americans are struggling to pay their bills. That number probably closely approximates the percentage who think the economy isn’t doing well. This is a different situation from people wrongly believing crime rates are high.
How we measure the economy does not measure the financial stability of the masses.
And however you DO measure it, it’s better now than last term.
NOT BEST. Better. That’s a reasonable measuring stick.
Because everyone except the wealthy are struggling to pay their bills bootlicker
And obviously trump is the better solution, crayon eater? Two things can be true at the same time: it sucks for regular people but it sucks less now than in 2019.
your logic is flawed. of course both can be true, they serve the same master of corporations. l am still voting for the lesser of two evils, hillary 2.0, i mean biden.
They’re asking the wrong question. The question should be who the economy is thriving for? The answer to that question will tell you everything you need to know.
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You’re reinforcing my point. The economy has improved for people who were already well off. The people on the low side are getting pinched even harder.
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You’ve decided you only want evidence that agrees with you.
A single anecdote is not evidence.
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Counter argument. I have also never made this much money. Neither has my boyfriend. We work at a hospital and make decent money. In Oct 2020 we were finally able to get our own apartment. We then moved back in with our old roommate last year. Because we were getting close to being homeless.
People were warning up about the disappearing middle class decades ago. I remember hearing about it in the 90s. And here we are. The wage gap between the top and the bottom has only widened.
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Person 1: Here’s a thing about the economy
Person 2: My argument is that I am doing fine, so it is fine
Person 3: I would counter that by saying I am not doing fine, so by Person 2’s logic, it is not doing fine, this proving it is not a good argument
Adult conversations aren’t for everyone
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Removed, civility.
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s/the economy/rich people's money/i
Only rich people and corporations are doing well.
EVERYONE ELSE is in a fucking recession…
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Read your own source, it is a year old, and 51% said the economy was getting worse. Only like 30% said it was good or excellent…
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Depends on what you mean by “the economy”.
Wall Street is striving, GDP is striving, but average people struggle to make rent.Thriving is the word you’re looking for
sorry, English isn’t my first language.
You keep using that word. I don’t think it means what you think it means.
“Please, I can’t afford food or housing”
Media outlets:
Economy doing great!!! Inflation down and stocks up!!!
“Okay, I guess I’ll just fucking die then”
The economy is doing good for what the president can do.
But the old metrics are not good. It used to just be employment rate that mattered, you know if people were employed that was sufficient. Now it’s wages that have not kept up and it’s a big issue.
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No one can undo years of economic turbulence in three years. Everyone feels like they’re being gaslit because they are. The patient will bleed out before you finish applying the first bandaid.
