352
Wages are stagnant and cost of living is ridiculous. Are we headed for a crash?
(piefed.blahaj.zone)
this post was submitted on 07 Jul 2025
352 points (98.1% liked)
No Stupid Questions
42102 readers
1688 users here now
No such thing. Ask away!
!nostupidquestions is a community dedicated to being helpful and answering each others' questions on various topics.
The rules for posting and commenting, besides the rules defined here for lemmy.world, are as follows:
Rules (interactive)
Rule 1- All posts must be legitimate questions. All post titles must include a question.
All posts must be legitimate questions, and all post titles must include a question. Questions that are joke or trolling questions, memes, song lyrics as title, etc. are not allowed here. See Rule 6 for all exceptions.
Rule 2- Your question subject cannot be illegal or NSFW material.
Your question subject cannot be illegal or NSFW material. You will be warned first, banned second.
Rule 3- Do not seek mental, medical and professional help here.
Do not seek mental, medical and professional help here. Breaking this rule will not get you or your post removed, but it will put you at risk, and possibly in danger.
Rule 4- No self promotion or upvote-farming of any kind.
That's it.
Rule 5- No baiting or sealioning or promoting an agenda.
Questions which, instead of being of an innocuous nature, are specifically intended (based on reports and in the opinion of our crack moderation team) to bait users into ideological wars on charged political topics will be removed and the authors warned - or banned - depending on severity.
Rule 6- Regarding META posts and joke questions.
Provided it is about the community itself, you may post non-question posts using the [META] tag on your post title.
On fridays, you are allowed to post meme and troll questions, on the condition that it's in text format only, and conforms with our other rules. These posts MUST include the [NSQ Friday] tag in their title.
If you post a serious question on friday and are looking only for legitimate answers, then please include the [Serious] tag on your post. Irrelevant replies will then be removed by moderators.
Rule 7- You can't intentionally annoy, mock, or harass other members.
If you intentionally annoy, mock, harass, or discriminate against any individual member, you will be removed.
Likewise, if you are a member, sympathiser or a resemblant of a movement that is known to largely hate, mock, discriminate against, and/or want to take lives of a group of people, and you were provably vocal about your hate, then you will be banned on sight.
Rule 8- All comments should try to stay relevant to their parent content.
Rule 9- Reposts from other platforms are not allowed.
Let everyone have their own content.
Rule 10- Majority of bots aren't allowed to participate here. This includes using AI responses and summaries.
Credits
Our breathtaking icon was bestowed upon us by @Cevilia!
The greatest banner of all time: by @TheOneWithTheHair!
founded 2 years ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
We're already there. The only reason we aren't calling this a depression is that the stock market hasn't been affected much.
But when 25% of Americans are functionally unemployed, it's hard to argue we aren't already largely 'crashed'.
The biggest issue is the need for families to have two incomes to support a houshold. Unemployment would plummet if single incomes for the working class were feasible again,since unemployment is based on looking for employment.
Basically if jobs had living wages and we had universal healthcare we wouldn't be in this mess.
That ship sailed under Reagan, and it's never getting back to port, sadly. Thanks to him, families now needed two incomes.
Then, Bush and Clinton came along, and you needed not only two incomes, but two college degrees. Now, with Dubya, Obama, and Trump, not even that's enough, and they're capping student loans instead of regulating student loan interest, so your only real shot at being a doctor now is being born in the right zip code.
America, baby. Dig it.
ReaGaNoMiCS!!!
You can blame Reagan for a lot of things but not this and frankly even if it somehow was all his fault the Clinton Administration could have undone it.
The economy was already in trouble by the end of Lyndon Johnson's final term in 1969. The Nixon Administration implemented some large changes trying to fix it but was unsuccessful. The Carter Administration also tried with very limited success. It wasn't until the 1st Rise of Tech in the 80s during the Reagan Administration that things managed to get moving again. The Clinton Administration caught a lucky break with the 2nd Rise of Tech in the 90s so the streak got extended to right about 2001.
The amusing part is that Johnson, Nixon, and Carter bear no blame for the economic woes while Reagan and Clinton deserve no credit for the economic successes. They just happened to be the guy in the Oval when things happened.
Its a good chunk of the reason that everyone from Wall Street to the US Federal Government is trying so damn hard to make AI happen. They want a 3rd Rise of Tech, or something like it, in order to re-float the economy.
Bla-bla-blame? I don't think this is about blaming the right or the left wing of politics. It's about what the State is supposed to do for (as in favor of) the people. They renounced to the idea of working for the people and leave them in the hands of the oligarchy. It worked as long as the illusion and promises lasted.