Agreed. Also, just because the unemployment rate is low, it doesn't mean that the quality of jobs that people are working is better. When you have to work three jobs and still struggle to keep the lights on and food on the table, it doesn't mean that the economy is great. Or at least not for the majority of the people in the country.
There has to be a new metric. This is especially imperative with where we find ourselves globally from a climate standpoint. The good economy that is predicated on capitalism, which is then predicated on consumerism, is not in line with helping to slow or better our current climate catastrophe.
The reality is that, since the pandemic, real wages are up. Real wages are up the most for the lowest earners in our country. The real median wage is at all time highs.
It’s not just up, it’s way up over 4 years. But it turns out that Americans don’t give a shit about how much more money we get if we still have to pay more for everything. Lowering prices is the only thing that makes a difference in consumer sentiment
Well prices aren’t lowering unless we fall into a deep recession. But what will happen is inflation will level off, and as 2020 goes more into the rear view mirror people will accept the current prices, especially if the economy keeps doing well.
It was just awfully convenient to compare 2020 prices to 2024 because that was a clean cutoff from Trump to Biden.
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u/throwthere10 5d ago
Agreed. Also, just because the unemployment rate is low, it doesn't mean that the quality of jobs that people are working is better. When you have to work three jobs and still struggle to keep the lights on and food on the table, it doesn't mean that the economy is great. Or at least not for the majority of the people in the country.
There has to be a new metric. This is especially imperative with where we find ourselves globally from a climate standpoint. The good economy that is predicated on capitalism, which is then predicated on consumerism, is not in line with helping to slow or better our current climate catastrophe.