For real though, we’re told cpi is strong or stable, told economy is strong, credit card usage is maxing out, people can’t afford necessities. What is the truth? What is the most possible outcome?
Found this chart that summarizes the situation well:
It is already adjusted for inflation. What it shows is that the US economy is doing well and growth is strong. So if you are personally struggling, it’s really an issue of inequality. Because people are producing nearly 10% more real goods and services, compared to pre-COVID.
In other words, the problem isn’t a weak economy and the problem isn’t that you aren’t producing enough. People seem to think the problem is inflation, but after adjusting for inflation, the US has more income than ever. The. Issue. Is. Inequality.
Literally defying and changing the definition of recession simultaneously.
A lot of US economic activity lately is due to government spending. Good if they can keep it up, but given interest rates, they have to slam the brakes sooner than later.
So far
Turns out record corporate profits might have actually helped the US’ economy.
6 comments
For real though, we’re told cpi is strong or stable, told economy is strong, credit card usage is maxing out, people can’t afford necessities. What is the truth? What is the most possible outcome?
Found this chart that summarizes the situation well:
[https://pbs.twimg.com/media/GGaI7SwXMAAmbiA?format=jpg&name=4096×4096](https://pbs.twimg.com/media/GGaI7SwXMAAmbiA?format=jpg&name=4096×4096)
It is already adjusted for inflation. What it shows is that the US economy is doing well and growth is strong. So if you are personally struggling, it’s really an issue of inequality. Because people are producing nearly 10% more real goods and services, compared to pre-COVID.
In other words, the problem isn’t a weak economy and the problem isn’t that you aren’t producing enough. People seem to think the problem is inflation, but after adjusting for inflation, the US has more income than ever. The. Issue. Is. Inequality.
Literally defying and changing the definition of recession simultaneously.
A lot of US economic activity lately is due to government spending. Good if they can keep it up, but given interest rates, they have to slam the brakes sooner than later.
So far
Turns out record corporate profits might have actually helped the US’ economy.