“Stop trusting your lying eyes and trust my worthless spreadsheets instead.”
“Please, I can’t afford food or housing”
Media outlets:
Economy doing great!!! Inflation down and stocks up!!!
“Okay, I guess I’ll just fucking die then”
How we measure the economy does not measure the financial stability of the masses.
And however you DO measure it, it’s better now than last term.
NOT BEST. Better. That’s a reasonable measuring stick.
Because it costs me $60 to walk into the fucking grocery store.
The right is circulating a pair of graphs,
1 is showing the average ( skewed, of course, by the richest ) income, for the time in Trump’s presidency,
vs the time in Biden’s
the other is showing the same 2 graphs, but adjusted for inflation … and it’s significantly worse in Biden’s presidency.
( I hold that the real disinformation is pretending that income-vs-cost-of-living somehow tracks economic policy realtime … there’s a delay, for some effects that delay is years, like Milei’s eradicating of the Ministry of Education “for the economy” is a bullet-in-the-head for future advanced-economy participation, but … this pair of graphs does highlight a significant fact:
you cannot ignore inflation when claiming that the wealth of the average person is better, because wealth is only in relation to costs.
Period. )
But milei hasn’t eradicated the ministry of education. Why do you spread misinformation?
https://www.as-coa.org/articles/explainer-whos-who-javier-mileis-cabinet
“Milei’s cabinet is smaller than usual, fulfilling his pledge to shrink the number of ministries. There were 18 ministries; now there are nine. The ministries of education; labor, employment, and social security; and social development are all now the ministry of human capital.”
I would call downsizing it to the point of irrelevancy and combining it with 4 other ministries under a new name does constitute eradication.
Being absorbed by another ministry does not by any means implies that it has been ERADICATED. At most it became a secretary or sub secretary, but not gone.
You are spreading misinformation
It’s not simply that it was absorbed by another ministry. 5 unrelated ministries were gutted and combined into an ineffective mishmash, incapable of doing any of the duties previously required.
Here’s your second source:
https://www.theartnewspaper.com/2023/12/15/javier-milei-does-away-argentina-culture-ministry
“Several other ministries were downsized and recombined into new entities. The Ministry of Social Development, Ministry of Education and Ministry of Labour, Employment and Social Security will be pared down into a newly formed Ministry of Human Capital, headed by the former TV producer Sandra Pettovello.”
And, yeah, putting a TV producer in charge of what used to be 5 governmental ministries? Seriously?
Wall Street =!= “The Economy”
The article states that most people surveyed said their personal financial situation improved but they still think the economy is bad.
Let that sink in. Most people say they are better off, but most of them still think the economy is bad. They know that they themselves are doing good but think it sucks for everyone else.
In the telephone survey of 1,818 adults Aug. 10-14, 71% of Americans described the economy as either not so good or poor. And 51% said it’s getting worse.
But 60% said their financial situation is good or excellent.
Come the fuck on dude. How can you possibly believe that? And who’s upvoting all your comments?
Everything you say now is suspect if you can believe that data is representative of most Americans. Not only that, you’re parroting the info everywhere like you’re confident in the data and knowledgeable on the subject, and yet it’s based on fucking phone interviews. What single, working mom do you think answers a random phone number and then is also willing to take an interview about the economy?
Statistically, some working mothers will answer the phone and finish the survey. If the survey was done correctly, and sampling bias and all that is accounted for, 1800 respondents is plenty to get a good representative picture of Americans. Surveys can work very well; even when using non-ideal survey methods.
Anecdotally, this survey seems to align pretty well with the people I know. E.g. people complaining about a pie costing something like 30% more than 5 years ago, while their income doubled or tripled in that same timeframe. Help-wanted signs in my area seem to be advertising wages around 50% more than 2019 as well.
I won’t debate your take on phone interviews being representative of any American under 80; I think it’s ridiculous
About your anecdote, you’re saying you think some people earn double or triple at the same job? Surely not, right? So what about the people that still work at those jobs? How do you think life is going for them?
I don’t think anyone I worked with in 2019 has the same job (they were either promoted or switched jobs). For the people working those jobs now, I’m guessing the businesses needed to raise wages to attract new talent, probably more than the ~30% inflation. In regards to family I know that work service or manufacturing jobs, they either switched jobs for higher pay, got promoted, or their union negotiated decent pay increases. Again, I’m guessing most businesses needed to raise their wages to attract workers to replace those that switched jobs; and from the “help wanted” signs I see, it looks like they raised wages more than inflation.
Rich people’s money is thriving under Biden. So why don’t Americans believe it?
Oh, we do, we just don’t like what’s happening for the rest of us.
Groceries. Are. Still. High. Where is the confusion???
Because grocery prices aren’t high because the economy is doing poorly. We are being price gouged by grocery cartels.
You are being fooled into blaming Biden for what CEOs are doing to you.
Bidens only response is asking them to stop price gouging then doing nothing when they don’t stop screwing Americans
why do people think nothing has been done?
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Democrats are already moving in the direction you want them to, but I’m sure you have a great excuse as to why they aren’t doing enough.
https://time.com/6977026/democrats-biden-executive-authority-grocery-prices/
Doing enough should be dragging price gouging executives through the street. But I guess wagging a finger at them will definitely make my grocery bill go down🤷🏼♂️
They could address stagnant wages in the midst of record inflation. What’s minimum wage again?
They’re asking the wrong question. The question should be who the economy is thriving for? The answer to that question will tell you everything you need to know.
My wife and I are making more money than we ever have before. I got a raise and she got a new job that pays more than her old one. We’re solidly on the high side of middle class. Sure, inflation pinched a bit of those gains, and it sucks that new and used cars are so ridiculously expensive, but both of ours are paid off so we’ll just keep driving them. It’s not all doom and gloom out there right now.
Edit: Downvoted for interrupting the doom loop. Never change, lemmings.
Counter argument. I have also never made this much money. Neither has my boyfriend. We work at a hospital and make decent money. In Oct 2020 we were finally able to get our own apartment. We then moved back in with our old roommate last year. Because we were getting close to being homeless.
People were warning up about the disappearing middle class decades ago. I remember hearing about it in the 90s. And here we are. The wage gap between the top and the bottom has only widened.
How is that in any way a counter argument?
Person 1: Here’s a thing about the economy
Person 2: My argument is that I am doing fine, so it is fine
Person 3: I would counter that by saying I am not doing fine, so by Person 2’s logic, it is not doing fine, this proving it is not a good argument
Adult conversations aren’t for everyone
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Removed by mod
Removed, civility.
Good one! You really got me there!
🙄🥱
Because everyone except the wealthy are struggling to pay their bills bootlicker
And obviously trump is the better solution, crayon eater? Two things can be true at the same time: it sucks for regular people but it sucks less now than in 2019.
your logic is flawed. of course both can be true, they serve the same master of corporations. l am still voting for the lesser of two evils, hillary 2.0, i mean biden.
Only rich people and corporations are doing well.
EVERYONE ELSE is in a fucking recession…
A majority of Americans say that their own personal finances are doing well, and even when the question is expanded to their whole state, voters say the economy has improved.
Then from the source itself:
60% said their financial situation is good or excellent.
Read your own source, it is a year old, and 51% said the economy was getting worse. Only like 30% said it was good or excellent…
Damn, I didn’t even realize OP’s article was sourcing a 2023 poll. Well here are the updated numbers for 2024:
Exactly half (50%) say their personal financial situation is excellent or good
U.S. adults scored a 48.92 on our financial well-being scale
So overall the numbers haven’t changed much since 2023 on how people see their own personal finances. Your point that, despite that, they still think the economy is getting worse just reiterates what the article is saying. For some people their finances are bad and they think things are getting worse. For some people their finances are good ant they think things are getting better. But strangely, for some people their finances are good but they still think things are getting worse. Or, to put it another way, some people think they’re in good shape, but the economy is in bad shape, which is a pretty weird disconnect. And the number of people in that last category is not small.
I share their opinion but also wish more people would care about metrics other than gdp and stock market indexes when a Republican is in office.
The news babbles about the real economy and how we’re on the brink of a recession tirelessly whenever a Democrat is in the presidency, then magically when a Republican is even just elected (not even in office yet) all of those “meaningless” numbers are suddenly meaningful, and it turns out there’s actually nothing wrong with using unemployment numbers, the GDP, and the Dow Jones index to determine economic health, even as more go homeless.
The only well-known politician I’ve seen talk consistently about this regardless of the party in the white house is Bernie.
Because it’s not true. Wall Street and the wealthy are thriving, the rest of us not so much.
No amount of gaslighting from the government is gonna help pay those bills