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submitted 5 months ago by Beaver@lemmy.ca to c/politics@lemmy.world
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[-] Guy_Fieris_Hair@lemmy.world 97 points 5 months ago

The fuck metric are they using for the economy???? The billionaires wealth increase? The stock market? Because I can't afford my rent or to feed my fucking family. Fuck off with your bullshit.

I don't blame Biden for it, I blame the orange man. But the economy isn't an exclamation point that should be used for the average person. The economy fucking sucks. EVERYONE HAS JOBS!!! .... Yeah.... they have 3 of them... start looking at the purchasing power of that money, not just the dollar amount.

[-] Lavitz 31 points 5 months ago

This! This! This!

Anyone who can afford to invest seems to be doing fine and everyone else is screwed. Rent, bills and the cost of food are out of control.

[-] Zak@lemmy.world 7 points 5 months ago

The weird part is people think the president caused any of that or has the ability to fix it.

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[-] Varyk@sh.itjust.works 76 points 5 months ago* (last edited 5 months ago)

And civil rights.

Plus sustainable technology.

And critical infrastructure.

Also climate change.

Taxing the wealthy.

[-] aeronmelon@lemmy.world 34 points 5 months ago
[-] Varyk@sh.itjust.works 24 points 5 months ago* (last edited 5 months ago)

Oh, geez, that one is huge. Great point.

160 billion in student debt cancelled.

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[-] Ensign_Crab@lemmy.world 62 points 5 months ago

As always, "economy" in a headline can be replaced with "rich people's yacht money."

[-] blazera@lemmy.world 43 points 5 months ago

and the slowest annual gain in prices since March 2021.

Its shit like this, dont tout this like a victory, i cant afford electricity right now

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[-] anticolonialist@lemmy.world 33 points 5 months ago

By 'economy' they always mean how well the rich are doing. WE are struggling, and the constant gaslighting that everything is ok tells us our cries for help are going unheard.

[-] queue@lemmy.blahaj.zone 27 points 5 months ago

"Listen, dipshit. I don't care if you can't afford groceries, I don't care if you our landlord priced you out of your own home, and I certainly don't give a fuck you can't find a new job that pays enough to live. The economy is doing great, all the graphs the capitalists chose says so. Your lived experience is a lie. Shut up, don't ask questions, and vote for me."

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[-] kibiz0r@midwest.social 19 points 5 months ago

The line is definitely going up!

[-] tiefling@lemmy.blahaj.zone 17 points 5 months ago* (last edited 5 months ago)

I definitely am paying exceptional prices for toilet paper and groceries

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[-] BigBenis@lemmy.world 13 points 5 months ago

The same economy that's reliant on sucking the working class dry of every last cent?

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[-] verdantbanana@lemmy.world 12 points 5 months ago* (last edited 5 months ago)

In the United States, the minimum wage is set by U.S. labor law and a range of state and local laws.[4] The first federal minimum wage was instituted in the National Industrial Recovery Act of 1933, signed into law by President Franklin D. Roosevelt, but later found to be unconstitutional.[5] In 1938, the Fair Labor Standards Act established it at 25¢ an hour ($5.41 in 2023).[6] Its purchasing power peaked in 1968, at $1.60 ($14.00 in 2023)[6][7][8] In 2009, it was increased to $7.25 per hour, and has not been increased since.[9]

https://en.wikipedia.org/wiki/Minimum_wage_in_the_United_States

if people are unable to afford things the economy is not good and neither Trump nor Biden in their four years did anything to help the citizens notably minimum wage

[-] HomerianSymphony@lemmy.world 12 points 5 months ago

Note the complete absence of any mention of housing prices in this article (and every other pro-Biden article about how great the economy is and why we should be grateful).

[-] MagicShel@programming.dev 6 points 5 months ago

Didn't we change the rules for realtors to reduce their commissions?

[-] aodhsishaj@lemmy.world 6 points 5 months ago

Drop in the bucket, the issue is with zoning and how banks are apportioning debt and packaging home loans.

If we want home ownership to be available to the common person, and are unwilling to set a realistic national wage, we should just allow the Fed to issue home loans again and get rid of the middlemen all together.

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[-] conditional_soup@lemm.ee 8 points 5 months ago

Here's the thing that kills me. This is what the presidency is kinda supposed to be like. He's gotten a good amount of good (and bad) things done. We've gotten so used to lazy, ineffectual, malicious, and downright bad governance that a kind of normal presidency seems like "WOAH HOLY FUCK WOW" to some folks. Biden's a solid statesman when it comes to the actual work of politics, but I wouldn't say that he's totally unique or a once-in-a-lifetime statesman. He's not irreplaceable, we just haven't been looking for someone to replace him because they did a good job hiding the fact that he needed replacing.

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[-] Fedizen@lemmy.world 7 points 5 months ago

This is bad messaging even though he probably has prevented some level of collapse. The trump tax cuts for the rich have lead to a lot of assets being hoovered up by all the surplus cash and the absolute ballooning of asset management companies. Until those things are fixed the economy will stay fucked

[-] shiroininja@lemmy.world 6 points 5 months ago

I don't give a shit about the economy. I've been broke through boom and bust. I care about the safety, freedom, and happiness of those I love. The centrists of the democratic party like this bag o bones are doing nothing about that.

[-] Ranvier@sopuli.xyz 5 points 5 months ago* (last edited 5 months ago)

Real wages (wages as expressed in 1982-1984 dollars, so controlled for inflation) are higher now than before the start of the pandemic. They aren't quite as high as they briefly got in early 2021 when the government was propping up the economy with large amounts of money both to employers and directly to people, when people were initially holding on to money rather than spending causing prices to drop (things were closed, people couldn't or didn't want to travel and go out) and before the supply chain crisis among other things started causing inflation across the globe. The wage growth since the pandemic has been highest for low income and hourly workers, so higher income salary workers may not have seen as much. Some industries may not have done as well as others, for instance the high interest rates to help control inflation hit tech jobs particularly hard. And as always, these are averages across the largest economy in the world with over 300 million people, I'm not trying to assert conclusions about any one person's financial situation.

January 2020 and January 2021 real wages https://www.bls.gov/news.release/archives/realer_02102021.htm

June 2023 and June 2024 real wages https://www.bls.gov/news.release/realer.t01.htm

Wage growth vs inflation since March 2020: https://www.statista.com/statistics/1351276/wage-growth-vs-inflation-us/

Also for more full context keep in mind that real wages dropped some for decades before finally starting to recover in the 2000s. We're only just starting to get back to real wages as they were in the 1970s.

https://www.pewresearch.org/short-reads/2018/08/07/for-most-us-workers-real-wages-have-barely-budged-for-decades/

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this post was submitted on 13 Jul 2024
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