Reality is not a stupid anecdote. I am not sorry this fact is inconvenient as you say the economy isn’t that bad. This is reality for many, many families. Bully for you with the ability to drive a mile or two to a Walmart for $3 milk.

Your retort is that it is people’s fault for not flocking to urban centers. Okay.

Right again, your anecdote doesn't represent the greater reality. One example doesn't make it the rule for everyone ever. Should I assume all juggalos are heroin addicted felons? No of course not, I'm sure some are very fine people.



big boi

This post was edited by Sioux on Oct 27 2022 09:41pm

As your buddy literally confirms this is a reality. Okay economy is fantastic you win

You're posting in a thread from goom about how we should ignore everyday indications that the economy was ok and freak out because of two quarters of negative GDP growth that have just turned into positive gdp growth, and you're coming in here to say, well I overpaid for milk therefore the entire American economy is in the shit.

lmao.

https://www.dallasfed.org/research/economics/2022/1004

Losing 8.5% purchasing power in the span of one year - in spite of a tight labor market!! - sounds bad enough if you ask me, and definitely not like a "win". Things might well get even worse if the economic slowdown (not apocalyptic but teetering on recession) reaches the labor market and future wage growth slows down while commodity- and supply-chain-driven inflation remains high.

This post was edited by Black XistenZ on Oct 27 2022 10:50pm

"but higher wages will lead to an inflation spiral!!!!"

Wages not even keeping up with inflation for the past 60 years and inflation still being a problem while corporate profits account for over half the increase in prices.



I mean, it definitely isn't great. The entire world economy is in the shitter right now. America is getting off light compared to.... basically everywhere else. For the record, I attribute that to our status as the reserve currency and not any particular policy.

This post was edited by NetflixAdaptationWidow on Oct 27 2022 11:14pm

I am providing a concrete example of one product out of hundreds that average families are paying double for as opposed to two years ago.

Your argument so far was that isn’t happening. Another user who 99.99999% of the time goes full opposition to anything I said confirmed my statement. Your counter was people who live in rural areas deserve it for simply living in rural areas.

Regardless of what OP said, we are here on page 8 and this is what we are talking about. I didn’t say there wasn’t gdp growth. I said any increase in wages will barely compensate for the cost of milk.

The rent big increase is the issue for majority of Americans

That's an argument that at least I never made. Arguing like that is really stupid in the current situation, where we have multiple overlapping supply-side shocks to the economy.



Profits of oil and gas companies are bound to go up when global prices for oil and natural gas surge. There is definitely some degree of price gauging on top of that, but it would be a mistake to assume that all the recent gains in corporate profits are coming from nefarious, intentional manipulation. A big chunk are just windfall profits. (Which should be taxed appropriately...)



I would ascribe it to two factors:

1. the US economy was particularly hot when covid hit, and was among the first to reopen. This has allowed the FED to be the first major central bank to end the era of ultra-expansive fiscal policy. This headstart on interest rates, in turn, has caused the USD to appreciate relative to most other currencies, which mitigated inflation in the US (most of the current inflation is coming from expensive energy imports). This effect would have happened even if the USD was not the world's reserve currency.

2. the US are a major producer of commodities like oil, gas and grain, so that they have to cover a smaller share of their demand via imports than Europe, Japan or Africa.

This post was edited by Black XistenZ on Oct 27 2022 11:45pm

!remind me 1 year