72
So I should expect another once in a generation crisis. Got it.
With the way the white house is handling the Middle East, expect another 70s style oil crisis.
Nah we have largely insulated ourselves from that. That was the point of opening up more drilling and more domestic oil production.
OPEC tried a few months ago to cut their production and raise prices and it didn’t even move the needle for us here.
She means rich people's yacht money.
Were all fucked
So we, as the bottom 90%, are going to see our share of that great economy? Like greedflation is going away, the wage stagnation will break without having having to go on strike, maybe some increased head count in qa across the board, fuck how about head count increases overall instead of operation at bare minimums.
Or... Will we instead see more stock buybacks, stock values go up, and no real changes in our lives. Government projects and social services continues to go under funded because of corporate tax loopholes and those at the top not paying their fair share since "unrealized capital". And maybe some more war since that's profitable. Man I'm pessimistic these days.
Edit: oh sorry I missed the part where she actually said.... Prices won't go down.
A reminder, Yellen thinks unemployment is good to discipline uppity workers. In her view, we need to sacrifice about another 2.2 million people, families, futures to make sure everyone else who works for a living stays submissive and unemployment climbs to 5%. Provided for context because her "good" is probably the opposite of your "good."
Well yeah, in the powers-that-be's view, that 5% mark is where most are working to keep spending money and fueling the economy, but enough people are unemployed that keeps wages within employers' control as they have a pool of labor to draw on to replace uppity employees.
According to this, the total number of people in the US labor force was 168,130,000 people, and 5% of that is 8,406,500 (remember that the workforce number includes people who are working or actively seeking work; it does not include those who are too young, have retired, or have given up looking for work). That's almost 8.5 million people looking for work, and to the fed and economists, that's an acceptable number of people struggling to keep the economy stable.
Thanks for this 🙏
Can’t wait for some of it to trickle down!
I’m so sick of this senile bat’s bullshit.
Goldman Sach’s little meat puppet.
She's a fucking ghoul of the finest order. They all are. Eat these cunts.
Like this senile old bag knows the future 🙄
What’s the worst that can happen? She’s wrong and she’s looking for a new job January 20th. May as well go out bold.
And even if a crash/recession happens, it's always because of 'an unforeseen black swan event that nobody could've seen coming', and they never get anyone challenging them on their God awful predictions.
But not for us. Cause when the economy is bad we get fucked and prices go up, and when the economy is good, we get fucked and prices stay high. So why the fuck would i care about the economy? It only seems to benefit the wealthy with stock portfolios
Thanks Janet Yellen.
And according to the papers: “The economy is good. This is how that’s bad for Biden.”
this post was submitted on 26 Jan 2024
72 points (89.1% liked)
News
23311 readers
3673 users here now
Welcome to the News community!
Rules:
1. Be civil
Attack the argument, not the person. No racism/sexism/bigotry. Good faith argumentation only. This includes accusing another user of being a bot or paid actor. Trolling is uncivil and is grounds for removal and/or a community ban. Do not respond to rule-breaking content; report it and move on.
2. All posts should contain a source (url) that is as reliable and unbiased as possible and must only contain one link.
Obvious right or left wing sources will be removed at the mods discretion. We have an actively updated blocklist, which you can see here: https://lemmy.world/post/2246130 if you feel like any website is missing, contact the mods. Supporting links can be added in comments or posted seperately but not to the post body.
3. No bots, spam or self-promotion.
Only approved bots, which follow the guidelines for bots set by the instance, are allowed.
4. Post titles should be the same as the article used as source.
Posts which titles don’t match the source won’t be removed, but the autoMod will notify you, and if your title misrepresents the original article, the post will be deleted. If the site changed their headline, the bot might still contact you, just ignore it, we won’t delete your post.
5. Only recent news is allowed.
Posts must be news from the most recent 30 days.
6. All posts must be news articles.
No opinion pieces, Listicles, editorials or celebrity gossip is allowed. All posts will be judged on a case-by-case basis.
7. No duplicate posts.
If a source you used was already posted by someone else, the autoMod will leave a message. Please remove your post if the autoMod is correct. If the post that matches your post is very old, we refer you to rule 5.
8. Misinformation is prohibited.
Misinformation / propaganda is strictly prohibited. Any comment or post containing or linking to misinformation will be removed. If you feel that your post has been removed in error, credible sources must be provided.
9. No link shorteners.
The auto mod will contact you if a link shortener is detected, please delete your post if they are right.
10. Don't copy entire article in your post body
For copyright reasons, you are not allowed to copy an entire article into your post body. This is an instance wide rule, that is strictly enforced in this community.
founded 1 year ago
MODERATORS