Contrary to the propaganda about how great the economy is doing – its actually doing abysmal. It is held up by the richest 20% – the remaining 80% struggle. That is the sad reality.
Hmmm. 🤔
I’ve been reading doom-loop pieces since the beginning of 2023.
If a recession materializes next year, then it’ll have massive political implications for the country. That would mean the country will most likely vote for a Republican president… and that’s when shit will start to get interesting
I’m sick and can’t focus enough to read Bc the meds and the head cold combo…
Once again, I guess we’ll sit back and watch what happens. There’s been a constant push me pull you of the current state of affairs for a few years now. I’m making more money than ever and am living quite tight financially. So until I feel some easing in my wallet, I’ll just continue to live until I can’t.
Wow peoples savings went up during stimulus and back down after? Consumer habits can be more attributed here, same as increasing CC debt. They got used to have money during Covid and refuse to accept the fact they have less money now, it’s not “bad” that’s just what happens when you pump the currency the way we did.
When they stop Doordashing you’ll see shit change
Source: I stopped doordashing and suddenly I have more money
Oh Bloomberg, when will you ever stop trying to influence the elections in favor of your Republican buddies?
Crazy how last week’s propaganda changed…things never go well when 90% struggle with finances.
In the world of trades, it is in fact not crumbling. I’m a one man fabrication/welding company and if you are plugged in, there doesn’t seem to be any shortage of work, but there is a shortage of available companies to do the work in a timely manner. I’m actually noticing an uptick in the welding community online of more and more young guys branching out on their own and swamped with work pretty quickly. But time will tell…if our economy truly does fully implode..not too hopeful of what comes after though.
Yes, it seems we have chosen the French Revolution route of let them eat cake, but instead of cake it is nothing.
glad we’re back to sharing negative articles from last month
Until people stop buying organic avocados 🥑 at $2 a pop, the economy is doing just fine.
Stay calm! Everything is fine!
This article is over a month old. Why was it re-posted?
This sub is a range of emotions.
Movies and restaurants are still full in my local economy… I remember back in 2009-2011 restaurants never were more than 50% capacity during peak hours. And the lunchtime crowd is always the first to disappear. I’m not seeing it yet. But that’s usually my barometer is the lunchtime crowd at a sit-down restaurant
Yesterday I walked into a local mall in my city only to find about 35% of stores closed down and many many locations available for lease. 😵💫
Article is over a month old
but stock market is doing great, so who cares!
You know when companies get greedy and prices get insanely out of control, consumers boycott with their wallets . It’s that simple.
Biden says the economy is great.
Treasury yields fell right after this was published a month ago. The economy expanded by 5% this past quarter. Later in October, the Fed started signaling the rate increases are likely over.
The best thing we can all do is organize a boycott on buying new shit for christmas. Give gifts but make them or give experiences. The only thing we have going for us is sheer numbers.
Bloomberg predicted a year ago 100 percent chance of the US entering recession. We did not and every indicator is that we are not.
I read this whole opinion article and have concluded this is yet another doomsayer. So much of it is “but you have to imagine” and is ignoring so many of the good metrics we’re having. For example the writer says that the price of oil is rising, but gas prices at the pump are falling. Nothing he says is really definitive of the conclusion as far as I can tell. “Savings is now lower than before the pandemic.” OK. It isn’t the top 20% that are sustaining the inflated prices, it seems the majority are still buying. This article is also old and says everyone will be out of money by September. It’s November now.
Calling recessions has to be the easiest job in the world. They’re inevitable in the business cycle, so if your prediction is wrong, just say you were “early”.
The only thing I expect now is a bear market where some stocks rally (tech, where are you?) and most go nowhere and real estate and bonds sorts itself out, inflation stay higher than we want and we all get progressively poorer.
American public attitudes suck now and will probably get worse, with continued entrenchment into respective camps. Global climate change marches on.
No matter who wins the presidency it will be an authoritarian who lies about everything while billionaires run rampant.
Doom and gloom berg is always spouting this type of stuff off. been a common theme of their “news” for a while now
Everyday, you hear
1. US Economy is doing better than any other.
2. US economy is about to implode
Like I’m pretty sure at this point, the idea behind all this is to confuse the public. Throw enough opinion pieces about each opinion, let people just question.
At some point, you have to ask yourself, should companies be held responsible for “opinion” pieces,
Worry about declining corporate profits is mind-boggling after corporations have posted quarter after quarter of the highest profits ever. Are economists that blind or dumb to think that could continue forever?…don’t answer that.
The US economy isn’t *breaking*, it is broken, and has been for a long time. Greed at the top has robbed it of its future.
Been hearing this for years….
Company I work for is doing just fine. Expecting 6 percent growth at a minimum. Just had our best quarter ever. It’s a very large manufacturing company and we doing just fine.
If the economy really breaks as the article claims, expect a new Trump presidency.
“You wouldn’t know it by the headlines. But the US economy is breaking in plain sight. Only the savings cushion of the richest 20% are keeping it afloat. And if interest rates keep rising nearly every day, even that won’t be enough”
So you’re telling me that the rich spending is keeping the economy going? Like the trickle down piss Reagan theory?
This whole article is written by a political pundit point of view, not even taking into consideration inflation by rising cost due to wars in Ukraine and rising corporation prices facilitated by fear-mongering.
Isn’t the us crushing it right now?
What did economists expect when companies make up prices and wages barely grow?
The economy is at a break point, current economic policies are a disaster and the fed is running out of ammo to offset inflation. Oil prices are driving inflation along with some Corp greed. Oil cost touches every aspect of the economy. Love it or hate it but the truth is the truth.
I’ve seen a ton of articles telling me how great the economy is but we all just don’t realize it though….
Or did it break and someone is now noticing? I guess it’s all a matter of perspective.
Makes sense, been dipping into savings every few months for 2 years now… it’s what it was for but damn…
I’ve had the good fortune of being able to travel all over your country for the last 10 years for work. Hate to break it to you, but it has long been broken in plain sight. Every time I come back it’s like 0.05% more fucked up.
They need to convince people not to unionize and demand better wages and living conditions. Gotta convince the peasants they need to stay in their place .
My 17 supervisors must be worried
The wealth gap has to be addressed.
“You wouldn’t know it by the headlines. But the US economy is breaking in plain sight. Only the savings cushion of the richest 20% are keeping it afloat. And if interest rates keep rising nearly every day, even that won’t be enough.”
But stocks just had their best week of the year, literally…
Idk who they are asking about the “excess” savings from pandemic money, that shit was gone long ago
46 comments
Contrary to the propaganda about how great the economy is doing – its actually doing abysmal. It is held up by the richest 20% – the remaining 80% struggle. That is the sad reality.
Hmmm. 🤔
I’ve been reading doom-loop pieces since the beginning of 2023.
If a recession materializes next year, then it’ll have massive political implications for the country. That would mean the country will most likely vote for a Republican president… and that’s when shit will start to get interesting
I’m sick and can’t focus enough to read Bc the meds and the head cold combo…
Once again, I guess we’ll sit back and watch what happens. There’s been a constant push me pull you of the current state of affairs for a few years now. I’m making more money than ever and am living quite tight financially. So until I feel some easing in my wallet, I’ll just continue to live until I can’t.
Wow peoples savings went up during stimulus and back down after? Consumer habits can be more attributed here, same as increasing CC debt. They got used to have money during Covid and refuse to accept the fact they have less money now, it’s not “bad” that’s just what happens when you pump the currency the way we did.
When they stop Doordashing you’ll see shit change
Source: I stopped doordashing and suddenly I have more money
Oh Bloomberg, when will you ever stop trying to influence the elections in favor of your Republican buddies?
Crazy how last week’s propaganda changed…things never go well when 90% struggle with finances.
In the world of trades, it is in fact not crumbling. I’m a one man fabrication/welding company and if you are plugged in, there doesn’t seem to be any shortage of work, but there is a shortage of available companies to do the work in a timely manner. I’m actually noticing an uptick in the welding community online of more and more young guys branching out on their own and swamped with work pretty quickly. But time will tell…if our economy truly does fully implode..not too hopeful of what comes after though.
Yes, it seems we have chosen the French Revolution route of let them eat cake, but instead of cake it is nothing.
glad we’re back to sharing negative articles from last month
Until people stop buying organic avocados 🥑 at $2 a pop, the economy is doing just fine.
Stay calm! Everything is fine!
This article is over a month old. Why was it re-posted?
This sub is a range of emotions.
Movies and restaurants are still full in my local economy… I remember back in 2009-2011 restaurants never were more than 50% capacity during peak hours. And the lunchtime crowd is always the first to disappear. I’m not seeing it yet. But that’s usually my barometer is the lunchtime crowd at a sit-down restaurant
Yesterday I walked into a local mall in my city only to find about 35% of stores closed down and many many locations available for lease. 😵💫
Article is over a month old
but stock market is doing great, so who cares!
You know when companies get greedy and prices get insanely out of control, consumers boycott with their wallets . It’s that simple.
Biden says the economy is great.
Treasury yields fell right after this was published a month ago. The economy expanded by 5% this past quarter. Later in October, the Fed started signaling the rate increases are likely over.
The best thing we can all do is organize a boycott on buying new shit for christmas. Give gifts but make them or give experiences. The only thing we have going for us is sheer numbers.
Bloomberg predicted a year ago 100 percent chance of the US entering recession. We did not and every indicator is that we are not.
I read this whole opinion article and have concluded this is yet another doomsayer. So much of it is “but you have to imagine” and is ignoring so many of the good metrics we’re having. For example the writer says that the price of oil is rising, but gas prices at the pump are falling. Nothing he says is really definitive of the conclusion as far as I can tell. “Savings is now lower than before the pandemic.” OK. It isn’t the top 20% that are sustaining the inflated prices, it seems the majority are still buying. This article is also old and says everyone will be out of money by September. It’s November now.
Calling recessions has to be the easiest job in the world. They’re inevitable in the business cycle, so if your prediction is wrong, just say you were “early”.
The only thing I expect now is a bear market where some stocks rally (tech, where are you?) and most go nowhere and real estate and bonds sorts itself out, inflation stay higher than we want and we all get progressively poorer.
American public attitudes suck now and will probably get worse, with continued entrenchment into respective camps. Global climate change marches on.
No matter who wins the presidency it will be an authoritarian who lies about everything while billionaires run rampant.
Doom and gloom berg is always spouting this type of stuff off. been a common theme of their “news” for a while now
It’s not just the US, the house hold savings rate is drastically decreasing across most OECD countries. https://data.oecd.org/hha/household-savings.htm
Everyday, you hear
1. US Economy is doing better than any other.
2. US economy is about to implode
Like I’m pretty sure at this point, the idea behind all this is to confuse the public. Throw enough opinion pieces about each opinion, let people just question.
At some point, you have to ask yourself, should companies be held responsible for “opinion” pieces,
Worry about declining corporate profits is mind-boggling after corporations have posted quarter after quarter of the highest profits ever. Are economists that blind or dumb to think that could continue forever?…don’t answer that.
The US economy isn’t *breaking*, it is broken, and has been for a long time. Greed at the top has robbed it of its future.
Been hearing this for years….
Company I work for is doing just fine. Expecting 6 percent growth at a minimum. Just had our best quarter ever. It’s a very large manufacturing company and we doing just fine.
If the economy really breaks as the article claims, expect a new Trump presidency.
“You wouldn’t know it by the headlines. But the US economy is breaking in plain sight. Only the savings cushion of the richest 20% are keeping it afloat. And if interest rates keep rising nearly every day, even that won’t be enough”
So you’re telling me that the rich spending is keeping the economy going? Like the trickle down piss Reagan theory?
This whole article is written by a political pundit point of view, not even taking into consideration inflation by rising cost due to wars in Ukraine and rising corporation prices facilitated by fear-mongering.
Isn’t the us crushing it right now?
What did economists expect when companies make up prices and wages barely grow?
The economy is at a break point, current economic policies are a disaster and the fed is running out of ammo to offset inflation. Oil prices are driving inflation along with some Corp greed. Oil cost touches every aspect of the economy. Love it or hate it but the truth is the truth.
I’ve seen a ton of articles telling me how great the economy is but we all just don’t realize it though….
Or did it break and someone is now noticing? I guess it’s all a matter of perspective.
Makes sense, been dipping into savings every few months for 2 years now… it’s what it was for but damn…
I’ve had the good fortune of being able to travel all over your country for the last 10 years for work. Hate to break it to you, but it has long been broken in plain sight. Every time I come back it’s like 0.05% more fucked up.
They need to convince people not to unionize and demand better wages and living conditions. Gotta convince the peasants they need to stay in their place .
My 17 supervisors must be worried
The wealth gap has to be addressed.
“You wouldn’t know it by the headlines. But the US economy is breaking in plain sight. Only the savings cushion of the richest 20% are keeping it afloat. And if interest rates keep rising nearly every day, even that won’t be enough.”
But stocks just had their best week of the year, literally…
Idk who they are asking about the “excess” savings from pandemic money, that shit was gone long ago