“These people will determine if the U.S. economy avoids a recession”

https://www.reddit.com/gallery/1ml6lig

by Conscious-Quarter423

8 comments

  2. Exactly. But only half the story.

    For the past 3 or 4 decades the economy has become more and more global. Before that, the US economy was ~2/3s the world economy, its middle class, made up the vast majority of that economy. Serving the US middle class was essential to business success. Today the US economy is ~1/4 the world economy, but for most US ‘based’ corporations, almost all global, more than half their revenue, and often most of their growth from outside the US. Serving the US middle class is nice, but no longer necessary.

    The US government & most politicians are happy to serve global corporations and take for granted the withering US middle class.

  3. What does the previous 5 year graph look like, and the one before that? Genuine question

  4. It has more to do with inflation since the GFC. The Fed has printed $9T in QE while keeping rates at 0% for almost 15 years.

    This causes inflation which makes the rich richer and the poor poorer.

    Stocks have gone up 10x and real estate 5x since 2009.

    And the rich own 90% of all assets.

  8. The argument that only the rich matter explains the War on Food. The rich are fewer so don’t need as much food.

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