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US economy logs best performance in nearly 4 years
- Thread starter RogerK
- Start date
What about income and wealth inequality? Is it still increasing?
Higher wages mean nothing if the wage increase isn't higher than the inflation.
Higher wages mean nothing if the wage increase isn't higher than the inflation.
OP getting a good review next time round for his SEO efforts.
I can attack you for derailing this thread with anecdotal evidence. When we talk about the economy at large, mentioning individual wage increases is silly. Should I list all the manufacturing plants, the Harley Davidsons of this country, who are moving shit out of the country in responses to things such as tariffs? That's hundreds of jobs. Not the ten people you're talking about.
Your entire premise is silly, you have established no connection between your wage increases and Trump. Indeed I've gotten a bonus at my job in the time Trump has been in office. Why would I attribute that to him? I work for a private company for God's sake.
The main criticism I had of the economy under Obama recovering after the recession was wage stagnation. This has not been addressed adequately by him or Trump. And I have less confidence Trump cares because he's a selfish asshole.
Also I just have to say when you say shit like "these guys are so selfless....and I hope you find success like them" you come off like a condescending ass. We all want presumably want this country to succeed for everyone. Not just people working for defense contractors, which sounds like the government.
If you're not getting wealthy right now, it's because you're failing at life and refusing to see both sides!
You are blind. Take a look around. You shouldn't have to be an engineer to be afforded decent raises in a booming economy. I make great money but I'm able to be aware enough to realize I'm in the minority and I work with very hard working people every day who don't get the pay they deserve. This kind of anecdotal stuff makes my blood boil when you use it to invalidate the obvious majority that is in your face every day. With inflation rising bc of trumps debt the avg American is making less not more bc the value of their money is less.
Personally, that's not what pissed me off the most. It was that patronizing way he described all of his minority coworkers as "humble and balanced". Apparantly all minorities need to do for success is to balance their obviously radical viewpoints out. It's condescending as hell.
Wealth gains have been diverging since the 80s.
Fed policy in this regard doesn't explain it, as the current regime has been in place only since 08. It is a contribution, not the causing factor.
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US consumer spending up 0.4% percent and annual inflation up 2.3%, the highest in 6 years. Wages now a net negative
So which one is it? Are we happy that Obama's policies have led to the underclass being left behind?
The US economy revolves around you and your selfless minority engineers. Okay bud.
Nah. As long as those minorities are humble ie they know their place, everyone will be in for a grand old time.
True. I thought he was basically insulting the person he was talking to there I didn't catch that.
Obama's policies definitely led to an economic upturn, but the American economy has been leaving behind working class people for decades and it only seems to be getting worse.
I can't quite wrap my mind around the wealthy's thought process. They keep squeezing the working class in order to drive profits and increase their wealth, but at some point there's a tipping point and no one will be able to buy the products/services that your companies offer...
Of course, I imagine the answer is that greed is driving their thought process, but it's an incredibly short-sighted mindset. Perhaps I'm giving human beings too much credit though...
It's really weird to me too because if they just do the minimum to satiate people then their power could increase greatly.
He responded to another persons false claims "nobody's wages are going up." That is a far cry from derailing the thread, its on topic.
Here is what he actually said:
"If thats because of Obama's policies? Sweet! Thanks Obama. If Trump's policies lead to a better economy as well, sweet thanks Trump!"
Both are misguided. Presidents aren't the only one's responsible for the economy and the idea that either Obama or Trump are primarily responsible for the current economy is misleading. The government is responsible for regulating capitalism to make sure people are getting paid fairly, we should be pointing fingers at politicians who fail to enact policies that properly redistribute wealth.
Why is someone saying they're doing well equate to praising Trump? I encounter that a lot here and it's really weird. Some people actually do have good jobs and see wage increases. That's not fiction and it's the nature of the economy which the president hardly has full control over.
Someone saying "no one's wages are going up" is obviously hyperbole. It is derailing the thread with anecdotal nonsense by responding that his wages are going up. We aren't talking about specific cases, because obviously there are people making more money now than they were before. Why does this need to be stated categorically? We're talking about that overall wages are stagnant.
It's extremely frustrating to come into this thread and have you quote me on this as if it's a gotcha when in reality taking that phrase literally is fucking ridiculous.
It's almost like the poster responded in bad faith to people expressing derision over linking economic policies to wages when the rate of inflation has outpaced them.
I feel like you should probably ignore context and go for a very general criticism of this thread. Instead of looking at the poster and his history of threads.
Regardless, praising Trump for your own economic gains ignores the suffering his administration has caused. It's inhumane.
Not a gotcha moment. I was merely pointing out to you what the poster actually wrote as your claims about the poster were not accurate.
1. Its a bubble
2. Its a bubble
3. ITS A BUBBLE
Wages are down, part time jobs are the norm...its the same kind of spin used when people try to identify the entire economy as nothing but the stock market or the vague number that is the unemployment rate
2. Its a bubble
3. ITS A BUBBLE
Wages are down, part time jobs are the norm...its the same kind of spin used when people try to identify the entire economy as nothing but the stock market or the vague number that is the unemployment rate
Lol.
https://www.resetera.com/threads/tr...s-for-2019-fiscally-sustainable-course.65398/
Dat economy though.
https://www.resetera.com/threads/tr...s-for-2019-fiscally-sustainable-course.65398/
Dat economy though.
You were pointlessly shitting up the thread by taking what someone said literally when they didn't mean it to be.
Couple that with the higher ed bubble, healthcare costs, student loans, the auto loan bubble, a pretty heated housing market ... I'm scared, honestly.
False. You claimed/implied a poster said something that they didn't. Something that the poster in fact clearly spelled out. Correcting false information is not shitting up a thread.
Same here. My SO and I are taking a two week trip to Europe because of what we've made from investments alone in the last year.
Economic reality is not Pro-Trump. Get out of here with this idea that Trump is America. I know Trump sees himself as synonymous with America, and many Trump supporters do, but we don't have to fall into that fallacy either.
Presidential policy has very little to do with economic performance. The economy has been steadily growing for over 4-5 years now, and it's not because of Donald Trump.
Doesn't really seem like a bubble, there's been steady growth quarter-over-quarter going on about ~20 consecutive quarters, without peaks and valleys.
Also, wages aren't down. Don't confuse narratives. Worker pay has grown slower than gross production since the 2008 recession, but it has still grown faster than inflation, and wages have still grown since the recession. Since 2017, wage growth has been steady at about 4.5%, which was up from 2016 (~2.5%), and back to mean from the beginning of the recovery (~2013-2015, where it's averaged about 4.5% trailing four quarters).
There is still legitimate complaint in wage growth: It's been slower than any other economic recovery in modern history.
The unemployment rate is not a vague number. That was Trump's narrative before getting elected, where he criticized Obama and the Labor Dept as having 'fake' unemployment numbers. They're not fake, they weren't fake 5 years ago, they weren't fake 10 years ago, they're not fake today. We don't need to use the same counter-factual nonsense that Trump has made his whole presidency out of.
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It's nice seeing people being able to express their opinions different from that of the mods and NOT get banned.
That being said, I feel this economy is not sustainable. Lowered taxes, tariff wars and an economy built on people buying stuff, I just feel this is a recipe for disaster.
That being said, I feel this economy is not sustainable. Lowered taxes, tariff wars and an economy built on people buying stuff, I just feel this is a recipe for disaster.
Inflation at just about three percent. Wages stagnant. Federal raises cancelled. But, hey we got them GDPs to wave in other people's faces. It's like saying you have a fast PC because you also run Windows 10.
Some people in this thread have more money that most of ERA will ever see.
Meanwhile we have a guy on here struggling to lift his brother out of the house to get to a doctor's appointment and the economy ain't doing jack jact for him.
I hope that two week trip is worth the fact minorities get fucked.
I would emagine because they vote for a racist, sexist fuckwit that will screw over minorities for a long time in advance just so they can get a two week Euro trip from their investments and those sweet tax cuts.
Did I miss something or did they say who they voted for somehwere ?
I most certainly didn't vote for trump or any other republican (ever) but I am also quite happy with my investments recently. I'm definitely not happy that minorities "get fucked."
I spent 6.5 years in college/graduate program and my SO spent 7 years. I pay my college debt every month with my job that I got my hard work to get my education. My girl and I also both visit high schools monthly to promote free sport programs in the city since we find sports as a great opportunity to get friends and become healthy. Please don't try to guilt trip me of the money I have earned and how I spend it.
I spent 4 years in college. My college debt is paid off. I am a large proponent of the Extra Life charity organization and have helped my alma mater raise over 120,000 dollars in the last six years because I believe kids in hospitals should have fun while staying there. I make six figures.
Please don't try to tell me we aren't anomalies and that the economy increasing while wages stay stagnant for most of the country and inflation is at its highest in years isn't a bad sign for all of us, and that it hurts the middle and lower class even more than some of the upper class people on ERA.
I'm not guilt tripping you, I'm just saying this is a temporary thing and none of us should take it for granted. This country is failing many people who are doing their damndest to survive and to insinuate that they aren't working "as hard" as some of us and that they just haven't "earned" a decent living wage as a result is disingenuous at best, much like the title of this OP was without any context.
Just because my 401k is increasing at a faster rate doesn't mean everything's fine and dandy.
There are a shitton of people who will never be able to see a college from the inside because of the community they are born in or because they got shot before they could due to their skin color and yet you have no problem rooting for a wannabe facist because the economy™. I don't guilt trip you because of your wealth, I'm "guilt tripping" you because you have no problem with the orange turd being in office as long as it benefits you.
Take your bootstraps shit somewhere else and get some perspective.
Their posts in here speak a clear language.
I wasn't talking to you, was I?
The amount of craziness in this thread is worrying. Sure, the structure of US economy is still shitty (i.e. income inequality), BUT there's no denying that economy is doing GREAT just like under Obama. Trump is a piece of shit, but at least he didn't destroy economy (yet?).
EDIT: Also what's the point of personal anecdotes here? The thread is about US economy, not about your life?
EDIT: Also what's the point of personal anecdotes here? The thread is about US economy, not about your life?
This particular quarter's growth was due to stockpiling to get in before tarrifs, though. Like, even this revision revises consumer spending DOWN and puts more of the "Growth" on exports before tariffs.
That's why I said "yet" :). Good thing that economy is doing well when Trump is doing all of this. Maybe it will survive his incompetence.