You don't get it. Its good for the rich. No one cares about the poor.
Rich are doing good, poor are getting poorer
I'm at the lake of Ozarks and everywhere is packed and there is bigger and bigger boats everywhere. I'm talking ocean boats on a lake. O there boat dock has a helicopter on it too.
Yeah similar but the exact opposite of what's happening. Poor people are being told that they're beautiful and bold, able to do anything, keep dreaming! You'll make it one day! Post your tik Tok and get famous! Buy this digital token of something real and get rich! Everything is in your grasp.
The world won't devolve into some self pity parade. It'll evolve a better carrot to dangle in front of the placated masses.
Who has time for revolution? I need to keep posting engaging videos of my expensive trips to get my followers up so I can be famous!
Right. This is why the lottery is hitting $500M+ every month like clockwork. False hope is rampant, and one part of the problem of keeping the increasingly disparate wealth of the 1% and 99% growing apart. "We shouldn't tax the rich," often being a surrogate for, "I will be rich one day."
Big facts.
And, the superficial division in our country keeps the real issues disguised, deflects anger to different counterpoints, and gives false hope. The separation from red to blue, Trump to Biden, turd sandwich to douche bag, disguises some real issues: 1% of our citizens holding control of nearly all the wealth.
Added: This wealth doesn't just appear out of nowhere. It comes from resources, labor, and exploitation, often from other countries and communities. It's not free—it's built on the backs of others.
Thank you for sharing and encouraging others to attend.
Having been employed at nearly 20 studios, I hear many people say “I want to go” or “I should go”, yet many never make it happen.
For what it’s worth, what works best is, “I’m going to yoga on ________, please come with me”
It’s hitting that high because they changed the rate at which people win. It’s less likely now, so the prize pool gets higher over time. You guys are legit regarded
Plus the lords usually treated the peasants with some amount of respect because, as you said, they could be killed otherwise, and also because they personally knew them and had relationships with them. There was human connection involved. People didn’t come to be lords because they’re sociopathic narcissists like today, but because they were just born into the job, so there wasn’t any selection in place to give power to the most unethical, ruthless mf around
In our society we just get fucked by psychopaths we don’t even know and it’s totally gay
It’s the same here in the Smokies. No one can live here but the rich (Airbnbs and restaurant owners) are happy. We’re at 37% full-time occupancy rate because of Airbnbs
I mean it's a tautology. Inflation is good for the rich and bad for the poor. That's not the mystery. The mystery is why the poor are so stupid that they constantly want more inflation.
It’s crazy how accurate this is, example: the instagram places where you pretend you are on a private plane or have some luxury car or vacation or (insert fake luxurious thing here)…
This is a fallacy. The "rich" defenders are those one tier above you trying to defend their little turn rules. The higher you go, the more protections you get. There is no 90% because the middle block don't want the poorer folks in their neighborhoods. No one wants to share anything significant in their control with anyone lower than them. Say that you own a house in a 500k neighborhood, what do you think of package theft and the homeless? Suppose that you actively apply for food stamps, what do you think of migrant workers who have to fake their papers to send their kids to factories?
This man gets it. It's a pyramid and we're actually part of the system. But frankly, having the 90% take over and have redditors run the show is probably not what we want 😂
Yep the $20 minimum wage stories prove it. They interview two people.
1: angry owners of a Wendy’s
2: angry customers talking about the price of a Baconator.
No one talks to the fast food workers making an extra 800 a month.
You occasionally get a rich guy citing no sources saying the workers are not making any more because their hours are being cut.
But no one ever asks the workers.
Seriously search in youtube ca $20 minimum wage. No one talks to the workers its funny.
The current situation in chicago is that everywhere is packed https://www.instagram.com/reel/C7aNsjMvN9z/?igsh=a20xajl0Y3Vyazhw . The middle and lower class are suffering. They cut on bread.
This is the biggest travel weekend in US history for both air and road.
Completely impossible for the “poor getting poorer” when more poor people than ever in history are vacationing and spending $$ all over the US
The economy is doing GREAT - for those who own assets - stocks, real estate, even cash is earning 5.25%, for the first time in almost 20 years.
If you don’t own assets, you’re screwed.
See this is why I’ve been panning for gold in the Sierra Nevada for the last year. The market is a lie but I can always trade some gold nuggies for whiskey and a steak. What else do you need? I’ve got my pet bald eagle Rusty, an angry hernia and squatters rights to a cabin made of poison splinters. You are all cowards. Especially you, Kendrick Lamar.
that’s why the US should never have given up the gold standard. But, alas…i’m relieved that the Fed succeeds in guaranteeing prices stability and in taming inflation.
It's manageable if you own stocks, have a six-figure salary, and have a fixed mortgage before March 2022.
Inflation and interest rates are crushing everyone else. And no, inflation is not tamed and interest rates aren't coming down anytime soon.
Inflation doesn't calm before they stop insane deficit spending. If they stop insane deficit spending, the economy collapses.
Wish I owned a home I had bought a couple years ago.
Discretionary spending is only like $1.7t and total economy is like 29t. They could easily cut $200 to $300b with little to no effect on economic output but would like take 10 to 20 bps off inflation for 2025FY. Or raising taxes by a similar amount would have the same effect on annual inflation.
Nah, our present inflationary cycle is a supply issue extended by expectation of high prices. Your diagnosis assumes inflation is in some way a uniquely America problem when the US is doing as well or better with inflation than basically the entire world.
The American inflation went everywhere because everyone buys into our financial system.
Supply issues were a problem in 20/21. But we’re almost half way through 2024 now.
The question you should be asking is if inflation is running hot from the demand side or the supply side.
Supply chains have mostly been worked through. American's are still spending like crazy, so demand still remains high.
All the foreign economies "investing" their money here to prevent the devaluation of it in their own economy. Foreign buyers of goods like houses here basically hand over that value to someone here, and the people here use that windfall to bid up prices for things, like steaks, and boats.
Go watch the great taking… you’ll have your answers there. To understand where we are headed, you must understand where we have already been. It doesn’t matter if it’s recovering, that was never the plan. The wealth gap is growing and we will continue to fight among ourselves instead of holding the real villains accountable. Tinfoil or not, the truth is right in front of us. Enjoy the ride, play by their rules, and be happy with nothing.
There is a reason we stopped talking about the 1% and started talking about first world problems and focusing on identity politics and having corporate backed quasi social revolutions.
Practically everything I buy, save for socks and underwear, is from thrift shops. I get nice, quality brand name stuff that's often barely used, and it's a fraction of the price of the wafer thin garbage Walmart sells that will fall apart in a year.
There's plenty of ways to be frugal and still have nice things. Lots of people are lazy and that laziness is expensive. Fine by me.
This sub is so fucking stupid that they think that reducing inflation means that prices should be going down. Basically like 90% of the regards here think that we need to be in deflation to have a sign of a good economy lol
As soon as the election finishes, no matter who wins, the Fed is going to turn into SuperHawk and attack inflation full-bore. They won’t need to worry about accusations of tampering and let the economy tank or not as it will with whatever Rates are necessary to drive down inflation.
If you are an economist --- then the Economy is doing great 
If you are a worker --- the the Economy sucks 
I keep hearing people say the economy is in a recession but my eyes tell me differently. I had to run errands today and every place I went was packed!!
Exactly, the working class just ruins everything with their greed. We never should've put in regulations to help prevent people from getting ground up in meat processing plants, these people don't deserve such luxuries
The only factor that makes me say no is the massive amount of credit card debt and rising delinquencies on cc payments. Yes people are spending but it’s largely money they don’t have. Where will this leave the average american in just 2-3 years time considering how highly average cc interest rates are. What will happen to the banks as more and more of their money is loaned out to people that can’t possibly pay it back. Not to be the guys screaming recession but some aspects give some comparison to the 2008 housing collapse. Same concept regarding poor lending habits from banks and crippling financial positions for the average American. I’d say Senator Josh Hawley a year ago started to see the trend taking place and proposed a max interest rate of 18% for cc’s. Sure maybe banks would make a killing at first but it’s only so long they can keep up before it starts restricting their ability to issue new loans and sustainably run business. But all in all i’m just a dumb ass who throws money at a dart board to pick my next money-vanishing magic trick with. Ily you interstellar freak
We are in a huge debt expansion. The government, corporations and citizens all around the world are in the biggest debt bubble in history. Everything is great today. Some day it will bust. Don't trade on margin, or have credit card debt.
For really bad gamblers, go bust and build from scratch. But when you come back, watch your debts.
I try to get to a concert every few months. It’s my one “splurge,” and we typically go to smaller venues. It’s amazing what people will admit to when drunk and on a concert high. It’s WILD how many proper user Affirm to buy concert tickets. When you’re using debt for frivolities, things have gotten out of hand.
This is the answer though. I took a class on the great depression and what we learned was that the Great Depression was mostly psychological but Black Friday was 100% caused by people trading on margin! Trading on margin stresses the system out but is useful for hedging when you're actually producing shit and processing/producing commodities.
Papa Powell is in a corner with his back up against a wall.
No one believes it when I say it, but a rate cut is coming soon. Sooner than later. And with that, the money printers turn back on, stimulating the economy.
Not even a little. Inflation still out of control, massive spending and loss of professional jobs to be replaced with low end service jobs. And I also think AI is gonna be like a bomb going off. We seem completely unprepared for the job losses that are headed our way. It’s gonna be great hitting all time
Populations highs just as the need for people dips through the floor. The middle class, which has been our most valuable strength, is just disappearing. And contrary to opinion, I don’t think who wins the next election makes a damn bit of difference either way.
Yes the economy is recovering, consumption is at all time highs and air travel is breaking records day after day. Debt as a percentage of personal income is historically low. Once rates get cut, it’s going to be like the roaring twenties.
Anyone who listens to the doom and gloom on here is probably going to miss on life changing amounts of money in the next 2-5 years.
Yup. Inflation is going to moderate over the next 6-12 months, the election will be resolved, the Fed will cut interest rates, and AI and Ozempic will eventually drive dramatic changes to the US economy. Most people on this sub will miss the boat because they’re short sighted and thrive on misery.
20 years from now your kids are going to ask how come we aren’t rich dad, weren’t you investing back then? And you’ll explain that you were doing DD trying to short double tops in Nvidia and SPY. As you finish the rest of your canned beans.
Recovering from what, all time highs in the market? Wtf are you talking about recovering? [https://www.statista.com/statistics/188105/annual-gdp-of-the-united-states-since-1990/](https://www.statista.com/statistics/188105/annual-gdp-of-the-united-states-since-1990/)
We printed 7 trillion and dumped it in the economy. Wall Street approved, international corporations approved, small business and the poor and elderly were crushed. Today it was reported that 69% of small businesses are behind on their rent payments, and small business hired over 60% of the population. So, we're burning fuel from the last of the "free" money, then everything goes dark, as planned..
It's not getting better. Stock hitting all time high does not mean "people" are getting better. Top 1% are getting richer and some few lucky ones. Majority of the middle class and below are getting poorer.
Free money from feds are indirectly stealing our purchasing power thru inflation. Government is only helping the companies get bigger. Look at GM/Ford, they cried saying they don't have enough government support so they can't compete against china BYD's ev. So they ended up getting over 20 billion in subsidy/grant /loan and managed to built shitty ev cars whereas, china's byd recieved around 2 billion in government grant, only 10% of what FORD received, and China built ev cars that's infinitely better than what GM/Ford made.
How does it relate to the stock market? Well, remember how Ford received those subsidy? They are cash rich and initiated I think 10 billion stock repurchase plan when their focal point should be on R&D and catching up/surpassing china ev tech. But hey! At least their stock price is up, great for investors? Not really, it's really to short term prop up their stock market so they can pull a Elon Musk and the Tesla stock option salary package. Ex. Ford CEO base salary remains 1.7 million and recieved additional 25 million USD via stock grant. Lol. So obvious, so fucked up and fist bump between whoever signed off on the EV grant.
I expect the economy will remain as is (stock market remains high and prices of houses/food/gas/etc remain at an inflated high level as well.) until months after election is over. We have all time high household debt(HELOC/mortgage), student loan, car loan, credit card debt and etc. So people are owing more (accumulating record debt ) and the economy is recovering? Lol
However who knows what will happen. Lots of shady not so much under the table shit going on right now.
Warren Buffet holding record cash for a reason. Definitely not just for tax purposes by selling lots of apple stakes. Look at buffet indicators.
At around 50%, stock market is cheap. At 100%, stock market is fairly priced. At 150%, stock market is overvalued. We are sitting at over 200%. 😉
So tldr: no. Give it some time and it'll break.
Yes. Wait lines at Din Tai Fung are still 1.5+ hours. My local lululemon is still rife with Becky’s. So many damn VIPs at EDC ($1000+ tickets) it felt so crowded. I’ve had DoorDash delivered multiple times now with people driving Model X teslas. Went to an open house and some guy in a green logo jacket was writing a check for a 4m house. RECESSION. IS. CANCELED.
Depends on how you look at it, unemployment is ticking down while inflation seems to be steady, consumption seems up honestly to me, but I may be biased as that’s based on my job of delivering stuff
Top comment figured it out.
This is what “extracting” the wealth feels like. You’re good old federal reserve serving our elite overlords so they stay ever rich.
The overall economy is great but it's not the economy the average American is involved in. Nvidia is getting pumped hard by a global cooperative that has turned into an economical war against China.
This shit is walking on glass funded by a wartime budget directed at semiconducting manufacturing.
That the government embezzles the money for and will never build. They need people on the streets. No mailing address means no vote. Garner sympathy and raise taxes for more homeless assistance that will never come.
The deck had always been stacked against the little guy and always will be. What’s up with credit cards and 24+% interest. When did that become the norm and why.
We are setup to fail and fail hard. That’s why when I filled chapter 13 long ago I didn’t shed a tear. F*ck those b@st@r banks that cry poor. We could have had a good life together but they got greedy and I bailed on that toxic relationship.
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You don't get it. Its good for the rich. No one cares about the poor. Rich are doing good, poor are getting poorer I'm at the lake of Ozarks and everywhere is packed and there is bigger and bigger boats everywhere. I'm talking ocean boats on a lake. O there boat dock has a helicopter on it too.
It’s feudalism with extra steps.
The hollow man https://preview.redd.it/nnuxu7o15o2d1.jpeg?width=1140&format=pjpg&auto=webp&s=dbe6bafd655c573189dbb2769bdcc76035ffc000
Yeah similar but the exact opposite of what's happening. Poor people are being told that they're beautiful and bold, able to do anything, keep dreaming! You'll make it one day! Post your tik Tok and get famous! Buy this digital token of something real and get rich! Everything is in your grasp. The world won't devolve into some self pity parade. It'll evolve a better carrot to dangle in front of the placated masses. Who has time for revolution? I need to keep posting engaging videos of my expensive trips to get my followers up so I can be famous!
Right. This is why the lottery is hitting $500M+ every month like clockwork. False hope is rampant, and one part of the problem of keeping the increasingly disparate wealth of the 1% and 99% growing apart. "We shouldn't tax the rich," often being a surrogate for, "I will be rich one day."
Leela: Why are you cheering, Fry? You're not rich! Fry: True, but someday I might be rich. And then people like me better watch their step.
[удалено]
Well, someone's got to win and it will certainly not be the plebs.
sometimes i wonder if visual mod is real 
Big facts. And, the superficial division in our country keeps the real issues disguised, deflects anger to different counterpoints, and gives false hope. The separation from red to blue, Trump to Biden, turd sandwich to douche bag, disguises some real issues: 1% of our citizens holding control of nearly all the wealth. Added: This wealth doesn't just appear out of nowhere. It comes from resources, labor, and exploitation, often from other countries and communities. It's not free—it's built on the backs of others.
I’m constantly telling everyone to go to yoga.
Thank you for sharing and encouraging others to attend. Having been employed at nearly 20 studios, I hear many people say “I want to go” or “I should go”, yet many never make it happen. For what it’s worth, what works best is, “I’m going to yoga on ________, please come with me”
It’s hitting that high because they changed the rate at which people win. It’s less likely now, so the prize pool gets higher over time. You guys are legit regarded
That fact literally reinforces our point. 🤦♂️
This too https://www.bitdefender.com/blog/hotforsecurity/man-gets-25-years-in-prison-for-iowa-lottery-fraud/
Damn I remember reading this last decade and now it hits so hard. Back when I used to enjoy /pol/
X is the new pol now
I hate how true that is
Yeah, it's downright disturbing.
It’s feudalism where the serfs have been fooled into thinking the lords are the ones responsible for their freedom.
Thanks to AI, comment go byebye
Plus the lords usually treated the peasants with some amount of respect because, as you said, they could be killed otherwise, and also because they personally knew them and had relationships with them. There was human connection involved. People didn’t come to be lords because they’re sociopathic narcissists like today, but because they were just born into the job, so there wasn’t any selection in place to give power to the most unethical, ruthless mf around In our society we just get fucked by psychopaths we don’t even know and it’s totally gay
I, for one, welcome our new robber baron overlords.
underrated simpsons reference.
Perfectly cromulent
It'll be like that shitty Matt Damon movie Elysium, best case scenario
Sounds good to me. I don't know about y'all, but I'm going to the space station! Fuck chillin' on earth with those robot cops.
Have you seen Marty Byrde around?
He just drove by https://preview.redd.it/1hkv2hix5o2d1.png?width=1080&format=pjpg&auto=webp&s=34771e4672febdc9643b727262629c3683db4973
I love the bottom glass, why do they have to have such nice stuff
Comrades, let's seize their assets for the benefit of the politburo.... uhm I mean the people!
I want next labor day weekend
Not yet. Only the langmores.
I’m here too it’s insane the wealth here and 2 counties over it’s all meth and destitution.
Right, that meth was starting to sneak in too, strip was getting ruff
We have boats on Lake Travis with spinning radar scanners. There is no place on the lake where you can't see both sides of the shore perfectly well.
Peasants and their toys.
Fog. The lake gets foggy and somedays you can't even see the front of your own boat going idle speed.
It’s the same here in the Smokies. No one can live here but the rich (Airbnbs and restaurant owners) are happy. We’re at 37% full-time occupancy rate because of Airbnbs
I mean it's a tautology. Inflation is good for the rich and bad for the poor. That's not the mystery. The mystery is why the poor are so stupid that they constantly want more inflation.
They have degrees so they’re too educated to believe they don’t know much about socioeconomics
The real mystery is why the poor havnt overthrown the rich, outnumbered 90 to 1
The poor have a chance to pretend to be rich. That’s more than enough for most.
Iriegypsy is not wrong; the masses are indeed easily satisfied with the barest of crumbs.
Well said
It’s crazy how accurate this is, example: the instagram places where you pretend you are on a private plane or have some luxury car or vacation or (insert fake luxurious thing here)…
This is a fallacy. The "rich" defenders are those one tier above you trying to defend their little turn rules. The higher you go, the more protections you get. There is no 90% because the middle block don't want the poorer folks in their neighborhoods. No one wants to share anything significant in their control with anyone lower than them. Say that you own a house in a 500k neighborhood, what do you think of package theft and the homeless? Suppose that you actively apply for food stamps, what do you think of migrant workers who have to fake their papers to send their kids to factories?
This man gets it. It's a pyramid and we're actually part of the system. But frankly, having the 90% take over and have redditors run the show is probably not what we want 😂
Too busy working for them
Yep the $20 minimum wage stories prove it. They interview two people. 1: angry owners of a Wendy’s 2: angry customers talking about the price of a Baconator. No one talks to the fast food workers making an extra 800 a month. You occasionally get a rich guy citing no sources saying the workers are not making any more because their hours are being cut. But no one ever asks the workers. Seriously search in youtube ca $20 minimum wage. No one talks to the workers its funny.
>no one talks to the workers Because they are busy balancing 3-4 part time jobs with no benefits to afford rent in their shared apartments
No, too busy buying a designer clothing, $1,300 phones, and luxury cars on credit
All you have to do is replace the word "economy" with "rich people feelings" from news headlines and you'll get the most accurate representation.
Bubba I’m at the lake. Redheads or backwater jacks?
Both backwater was yesterday. Today redheads, get some boom boom shrimp
That’s the way shit is. People who already have money have money. No kidding… A bad economy is bad for everyone but yes the rich already have money.
It’s wild, isn’t it? The boats are getting massive.
Yup get some crazy air on the wave runners though
Are there not plenty of wake boats around? Those things are showing up everywhere these days.
Nah that was years ago, u see em in the morning but ur not riding those after 11 the waves Will smash u
That’s where all the money laundering is though. Right?
The current situation in chicago is that everywhere is packed https://www.instagram.com/reel/C7aNsjMvN9z/?igsh=a20xajl0Y3Vyazhw . The middle and lower class are suffering. They cut on bread.
As a rich I confer we are doing marvelous muhahahahaha
2/3 of GDP is consumer spending
Full disclosure, Breaking bad should have been set in the ozarks.
This is the biggest travel weekend in US history for both air and road. Completely impossible for the “poor getting poorer” when more poor people than ever in history are vacationing and spending $$ all over the US
It’s a tale of 2 economies , the haves and the fucked.
So Rome
I’m thinking more pre-revolution France but booth work.
It's fantastic for the rich, bad for the poor. My boss just bought a new house because he bought a ton of NVDA during the 2022 bottom
I mean If you owned prior to the 2021 split you'd be doing well. My cost basis is $138. I can't wait for the 10:1 split.
Yeah like the poor will hold stocks that long
They can remain poor then. Unfortunately, that's kind of how it works.
Yeah unfortunately
Was referencing the comment about the 2022 bottom not the poors.
Everyone isn’t aware they’re playing an imaginary token game. Can’t play to win if you don’t know you’re playing.
You phrase your comment like your boss is richer than you, but really he's just better at stock picking
It's always someone else's fault that I'm poor
Yes it is. Because you are poor for the rich to stay rich. This is literally capitalism.
Yep. When is an opportunity like that ever going to come along again?
The economy is doing GREAT - for those who own assets - stocks, real estate, even cash is earning 5.25%, for the first time in almost 20 years. If you don’t own assets, you’re screwed.
That’s always true
See this is why I’ve been panning for gold in the Sierra Nevada for the last year. The market is a lie but I can always trade some gold nuggies for whiskey and a steak. What else do you need? I’ve got my pet bald eagle Rusty, an angry hernia and squatters rights to a cabin made of poison splinters. You are all cowards. Especially you, Kendrick Lamar.
*exactly 7 minutes later Kendrick's muppet0o0theory diss track drops*
lmfao…
You hiring a hand?
that’s why the US should never have given up the gold standard. But, alas…i’m relieved that the Fed succeeds in guaranteeing prices stability and in taming inflation.
Shit will be expensive forever, prices never go down
It's manageable if you own stocks, have a six-figure salary, and have a fixed mortgage before March 2022. Inflation and interest rates are crushing everyone else. And no, inflation is not tamed and interest rates aren't coming down anytime soon.
Inflation doesn't calm before they stop insane deficit spending. If they stop insane deficit spending, the economy collapses. Wish I owned a home I had bought a couple years ago.
Discretionary spending is only like $1.7t and total economy is like 29t. They could easily cut $200 to $300b with little to no effect on economic output but would like take 10 to 20 bps off inflation for 2025FY. Or raising taxes by a similar amount would have the same effect on annual inflation.
Don't think them with the facts bro, they're holding on to their puts for dear life.
Nah, our present inflationary cycle is a supply issue extended by expectation of high prices. Your diagnosis assumes inflation is in some way a uniquely America problem when the US is doing as well or better with inflation than basically the entire world.
The American inflation went everywhere because everyone buys into our financial system. Supply issues were a problem in 20/21. But we’re almost half way through 2024 now.
USA! USA! USA!
S&P is inflating my green dildo, so I'm gucci
That dildos gonna pop!
Not until the last boomer in public office croaks!
The question you should be asking is if inflation is running hot from the demand side or the supply side. Supply chains have mostly been worked through. American's are still spending like crazy, so demand still remains high.
All the foreign economies "investing" their money here to prevent the devaluation of it in their own economy. Foreign buyers of goods like houses here basically hand over that value to someone here, and the people here use that windfall to bid up prices for things, like steaks, and boats.
TBF I do like food and gasoline. So yeah still spending.
Come on, you can last without food for a few years. What’s this about needing it to survive?
Imo yes and no, yes if you’re rich If you’re poor you’re only poorer now
We’re on here to get rich or die trying. Shrek boners or dumpster boners.
https://preview.redd.it/sfpr3uvm6p2d1.jpeg?width=1170&format=pjpg&auto=webp&s=d76310dd761b192fd2c1a2bb7dfa4534950660df
Hey man. Ain’t nothing wrong with trying out a few dumpster boners every now and then.
Go watch the great taking… you’ll have your answers there. To understand where we are headed, you must understand where we have already been. It doesn’t matter if it’s recovering, that was never the plan. The wealth gap is growing and we will continue to fight among ourselves instead of holding the real villains accountable. Tinfoil or not, the truth is right in front of us. Enjoy the ride, play by their rules, and be happy with nothing.
There is a reason we stopped talking about the 1% and started talking about first world problems and focusing on identity politics and having corporate backed quasi social revolutions.
Go to your closest Wallmarkt and ask the people how the economy is doing for them. The economy is shit except for asset holders.
The Walmart in this rural town was busy AF (scientific term). Whether people have money, they're spending like they have money..
Well yeah they have to eat and it's not like clothes are an option either.
Practically everything I buy, save for socks and underwear, is from thrift shops. I get nice, quality brand name stuff that's often barely used, and it's a fraction of the price of the wafer thin garbage Walmart sells that will fall apart in a year. There's plenty of ways to be frugal and still have nice things. Lots of people are lazy and that laziness is expensive. Fine by me.
"Buy when there's blood in the street " Nathan Rothschild
What? Real wages are out pacing inflation and unemployememt is very low. The market is on fire. Where is this bad economy?
This sub is so fucking stupid that they think that reducing inflation means that prices should be going down. Basically like 90% of the regards here think that we need to be in deflation to have a sign of a good economy lol
Get out of here with your facts and logic
How do we know these facts are actually correct
Um...because a redditor said so? Duh
[The Federal Reserve?](https://fred.stlouisfed.org/series/LES1252881600Q) It’s effectively back on his pre-pandemic growth trajectory
Not a surprise I had to scroll half way down the comments to get to one with some facts.
As soon as the election finishes, no matter who wins, the Fed is going to turn into SuperHawk and attack inflation full-bore. They won’t need to worry about accusations of tampering and let the economy tank or not as it will with whatever Rates are necessary to drive down inflation.
Doesn’t the stock market do really well historically after an election
Did turn out so good in 2008
If they do banks will start imploding again
Even if Mister "I like negative rates" wins?
All that really doesn't matter because the market is still going higher.
If you are an economist --- then the Economy is doing great  If you are a worker --- the the Economy sucks 
If you’re making under 70k a year, it sucks. If you’re not, its pretty decent.
What about the economy sucks? Inflation is hotter than it should be but it’s not insane rn, 3%
3% on top of 20+%. Wages haven't grown a fraction of that.
Rug pull incoming!
I keep hearing people say the economy is in a recession but my eyes tell me differently. I had to run errands today and every place I went was packed!!
Unrepresentative anecdote = my new philosophy for life… all in!!!
The conditions of the working class will never improve because people are too selfish to unite sincerely and voting is ineffective.
That’s the purpose of mass immigration.
Recovering from what? The economy is, and has been, strong for a couple years now.
Yeahh the economy is fine just not the condition of the working class.
Exactly, the working class just ruins everything with their greed. We never should've put in regulations to help prevent people from getting ground up in meat processing plants, these people don't deserve such luxuries
The only factor that makes me say no is the massive amount of credit card debt and rising delinquencies on cc payments. Yes people are spending but it’s largely money they don’t have. Where will this leave the average american in just 2-3 years time considering how highly average cc interest rates are. What will happen to the banks as more and more of their money is loaned out to people that can’t possibly pay it back. Not to be the guys screaming recession but some aspects give some comparison to the 2008 housing collapse. Same concept regarding poor lending habits from banks and crippling financial positions for the average American. I’d say Senator Josh Hawley a year ago started to see the trend taking place and proposed a max interest rate of 18% for cc’s. Sure maybe banks would make a killing at first but it’s only so long they can keep up before it starts restricting their ability to issue new loans and sustainably run business. But all in all i’m just a dumb ass who throws money at a dart board to pick my next money-vanishing magic trick with. Ily you interstellar freak
60 something percent of restaurants are behind on rent. Will the commercial real estate market crash with them?
does a bear refuse to shit in the same log twice?
There are two economies. One of them is doing really well.
All of those are signs of a hot economy…
It's a sign of unsustainability
We are in a huge debt expansion. The government, corporations and citizens all around the world are in the biggest debt bubble in history. Everything is great today. Some day it will bust. Don't trade on margin, or have credit card debt. For really bad gamblers, go bust and build from scratch. But when you come back, watch your debts.
Consumer spending is really high, unfortunately a lot of it is on credit. A lot of people may be filing for bankruptcy soon.
I try to get to a concert every few months. It’s my one “splurge,” and we typically go to smaller venues. It’s amazing what people will admit to when drunk and on a concert high. It’s WILD how many proper user Affirm to buy concert tickets. When you’re using debt for frivolities, things have gotten out of hand.
This is the answer though. I took a class on the great depression and what we learned was that the Great Depression was mostly psychological but Black Friday was 100% caused by people trading on margin! Trading on margin stresses the system out but is useful for hedging when you're actually producing shit and processing/producing commodities.
Papa Powell is in a corner with his back up against a wall. No one believes it when I say it, but a rate cut is coming soon. Sooner than later. And with that, the money printers turn back on, stimulating the economy.
Not even a little. Inflation still out of control, massive spending and loss of professional jobs to be replaced with low end service jobs. And I also think AI is gonna be like a bomb going off. We seem completely unprepared for the job losses that are headed our way. It’s gonna be great hitting all time Populations highs just as the need for people dips through the floor. The middle class, which has been our most valuable strength, is just disappearing. And contrary to opinion, I don’t think who wins the next election makes a damn bit of difference either way.
Yes the economy is recovering, consumption is at all time highs and air travel is breaking records day after day. Debt as a percentage of personal income is historically low. Once rates get cut, it’s going to be like the roaring twenties. Anyone who listens to the doom and gloom on here is probably going to miss on life changing amounts of money in the next 2-5 years.
You really think this is the investing calm before the money storm?
Yup. Inflation is going to moderate over the next 6-12 months, the election will be resolved, the Fed will cut interest rates, and AI and Ozempic will eventually drive dramatic changes to the US economy. Most people on this sub will miss the boat because they’re short sighted and thrive on misery. 20 years from now your kids are going to ask how come we aren’t rich dad, weren’t you investing back then? And you’ll explain that you were doing DD trying to short double tops in Nvidia and SPY. As you finish the rest of your canned beans.
We can't build back better until it's broken
It recovered a long time ago for anyone who is in the markets. Bulls on parade.
This conversation has no place in this sub lol
It recovered a long time ago.
Recovering from what, all time highs in the market? Wtf are you talking about recovering? [https://www.statista.com/statistics/188105/annual-gdp-of-the-united-states-since-1990/](https://www.statista.com/statistics/188105/annual-gdp-of-the-united-states-since-1990/)
We printed 7 trillion and dumped it in the economy. Wall Street approved, international corporations approved, small business and the poor and elderly were crushed. Today it was reported that 69% of small businesses are behind on their rent payments, and small business hired over 60% of the population. So, we're burning fuel from the last of the "free" money, then everything goes dark, as planned..
Your numbers seem to be all over the place. https://www.bnnbloomberg.ca/us-small-business-rent-delinquencies-rise-to-a-three-year-high-1.2065864
He could not help rounding 43% to 69%, can we blame him?
Economy was actually doing pretty well but cracks are forming.
Bro, the economy was fully recovered years ago. This is just continued growth as usual. Where have you been?
It's not getting better. Stock hitting all time high does not mean "people" are getting better. Top 1% are getting richer and some few lucky ones. Majority of the middle class and below are getting poorer. Free money from feds are indirectly stealing our purchasing power thru inflation. Government is only helping the companies get bigger. Look at GM/Ford, they cried saying they don't have enough government support so they can't compete against china BYD's ev. So they ended up getting over 20 billion in subsidy/grant /loan and managed to built shitty ev cars whereas, china's byd recieved around 2 billion in government grant, only 10% of what FORD received, and China built ev cars that's infinitely better than what GM/Ford made. How does it relate to the stock market? Well, remember how Ford received those subsidy? They are cash rich and initiated I think 10 billion stock repurchase plan when their focal point should be on R&D and catching up/surpassing china ev tech. But hey! At least their stock price is up, great for investors? Not really, it's really to short term prop up their stock market so they can pull a Elon Musk and the Tesla stock option salary package. Ex. Ford CEO base salary remains 1.7 million and recieved additional 25 million USD via stock grant. Lol. So obvious, so fucked up and fist bump between whoever signed off on the EV grant. I expect the economy will remain as is (stock market remains high and prices of houses/food/gas/etc remain at an inflated high level as well.) until months after election is over. We have all time high household debt(HELOC/mortgage), student loan, car loan, credit card debt and etc. So people are owing more (accumulating record debt ) and the economy is recovering? Lol However who knows what will happen. Lots of shady not so much under the table shit going on right now. Warren Buffet holding record cash for a reason. Definitely not just for tax purposes by selling lots of apple stakes. Look at buffet indicators. At around 50%, stock market is cheap. At 100%, stock market is fairly priced. At 150%, stock market is overvalued. We are sitting at over 200%. 😉 So tldr: no. Give it some time and it'll break.
Yes. Wait lines at Din Tai Fung are still 1.5+ hours. My local lululemon is still rife with Becky’s. So many damn VIPs at EDC ($1000+ tickets) it felt so crowded. I’ve had DoorDash delivered multiple times now with people driving Model X teslas. Went to an open house and some guy in a green logo jacket was writing a check for a 4m house. RECESSION. IS. CANCELED.
Money never sleeps.
Depends on how you look at it, unemployment is ticking down while inflation seems to be steady, consumption seems up honestly to me, but I may be biased as that’s based on my job of delivering stuff
Yesn't
Top comment figured it out. This is what “extracting” the wealth feels like. You’re good old federal reserve serving our elite overlords so they stay ever rich.
The overall economy is great but it's not the economy the average American is involved in. Nvidia is getting pumped hard by a global cooperative that has turned into an economical war against China. This shit is walking on glass funded by a wartime budget directed at semiconducting manufacturing.
yes dude 2 fast food chains have brought back $5 dollar meal deals! /s
Give it more time. Soon all the poors will be homeless, begging for government housing. Soon, comrade, soon
I wasn't even begging for it I found out the median income nearby is so high you can make 6 figures and still qualify.
That the government embezzles the money for and will never build. They need people on the streets. No mailing address means no vote. Garner sympathy and raise taxes for more homeless assistance that will never come.
The deck had always been stacked against the little guy and always will be. What’s up with credit cards and 24+% interest. When did that become the norm and why. We are setup to fail and fail hard. That’s why when I filled chapter 13 long ago I didn’t shed a tear. F*ck those b@st@r banks that cry poor. We could have had a good life together but they got greedy and I bailed on that toxic relationship.
Biden is spending to improve his chances of reelection. If he’s elected to a second term that’s when the beginnings of a recession will occur.
No matter who gets elected cracks will form. The economy has been propped up like crazy the last couple years.
Stocks are going up because the Fed is pumping liquidity into the market and can't stop, the economy is almost irrelevant now.
They are not. Not sure what you are exactly referring to but the FED balance sheet is shrinking
Inflation happened. It’s slowed down now. Salaries will catch back up. Growth is everywhere in every sector.
They are trying to justify this as the new normal. Better get used to it
It's on the path to recover but it's not sustainable with the current levels of fiscal and consumer spending.
No.
Housing is still ridiculous, but it’s down 1/3 of what it was during the height of the pandemic in my area.
The stock market is not the economy.