• Jeremy [Iowa]@midwest.social
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    1 year ago

    On the other hand, when wage growth continually fails to even come close to inflation, the rah rah economy gaslighting falls a bit flat.

      • VentraSqwal@links.dartboard.social
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        1 year ago

        Home prices and rent are crazy high, though. Plus student loans are coming back, no wonder everyone feels poor, unless you already managed to buy a home with low interest rates. So things are great for those people, I’m sure.

        • Rapidcreek@reddthat.com
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          1 year ago

          Of course that isn’t inflation. That is individual sector increases, which is something that a President can do little about.

        • Rapidcreek@reddthat.com
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          1 year ago

          3.7 isn’t too bad. Not great, below 3 would be good. But, as long as the rest of the world suffers we will too. Our main trade partners, Canada and Mexico, are doing all right so the chances are we won’t slip into a recession. This is especially true because the US GDP is so good. This is a problem that COVID left the world.

      • ashok36@lemmy.world
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        1 year ago

        They’re using it correctly. When someone tells you the economy is great but you and everyone you know are worse off, that’s gaslighting.

        “Don’t believe your own experience, just take my word for it.”

        • Cryophilia@lemmy.world
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          1 year ago

          Economic measurements were in the tank in 2010 for everyone except wall street. That was when the term “main street” actually got recognized in the media. There were plenty of articles about it.

        • Cryophilia@lemmy.world
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          1 year ago

          Yikes

          Do you think unemployment is near a 50 year low?

          Do you think GDP is growing?

          These are real, quantitative measurements that people are WRONG about. It’s not just some dude’s word. It’s the TRUTH, and you’re REJECTING it. It’s sad.

      • afraid_of_zombies@lemmy.world
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        1 year ago

        I think they used it correctly. This whole thing feels like 2010 all over again. We all know things are on fire and the government/media keeps saying how great it all is.