Post Ad0PXEOQ55EPrLlleS by mttaggart@infosec.town
 (DIR) More posts by mttaggart@infosec.town
 (DIR) Post #Ad0FqR8XvMpXLQrcx6 by mttaggart@infosec.town
       2023-12-20T14:12:13.415Z
       
       0 likes, 0 repeats
       
       Buried in this report is the perennial truth that there are (at least) two American economies. The one that is checking their portfolio performance? They had a great year.The one trying to make rent or worried about the price of groceries? Not so much. And this is why you keep seeing "wHy dOeSnT tHe eCoNoMy fEeL gOod?" stories: we keep thinking the New York Stock Exchange should be a national indicator.www.axios.com/2023/12/20/america-economy-2023-growth-investments-gdp-stock-market
       
 (DIR) Post #Ad0H1HVOAsQkc2HdXE by FortunateFool@infosec.town
       2023-12-20T14:23:44.010Z
       
       1 likes, 0 repeats
       
       @mttaggart the other economic indicators are also solid. The disconnect is that we're not yet used to the higher prices (mentally and wages still adjusting), and borrowing costs went up at a time when American cc debt passed $1 trillion.This will sort itself out over the next year as rates come down, wages go up, and prices remain stable.
       
 (DIR) Post #Ad0H3eMy8Y2Y6UTUJs by CarRamrod@infosec.town
       2023-12-20T14:23:04.219Z
       
       1 likes, 0 repeats
       
       @mttaggart The result of our extreme and historic inequality, we are living it in real time.
       
 (DIR) Post #Ad0HA1V732Fxa8K4Lw by mttaggart@infosec.town
       2023-12-20T14:26:58.719Z
       
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       @FortunateFool Real wages have decades of catchup to do though, and I'm not at all convinced it'll happen for any but the highest earners.
       
 (DIR) Post #Ad0HeDnbt5MWPbNH5E by FortunateFool@infosec.town
       2023-12-20T14:31:04.149Z
       
       1 likes, 0 repeats
       
       @mttaggart Definitely, but for the purposes of the election, we're comparing the feeling of pre-covid, with trump as president, to now. We just need to get back to that feeling quickly enough to keep trump out. That will give us a much better chance at addressing inequality.
       
 (DIR) Post #Ad0Hp5e0Y0A0J047gu by mttaggart@infosec.town
       2023-12-20T14:34:24.172Z
       
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       @FortunateFool Ah good point! Although honestly I wonder if we might risk over-rationalizing it. For half the country, no Biden economy will be "good." For the rest, it's a matter of overcoming the mental rut of what we should rightfully call the "2020s malaise." It may take significantly more than incremental improvement to do so.But I hope you're right!
       
 (DIR) Post #Ad0L1hi19K8BhMeCYK by FortunateFool@infosec.town
       2023-12-20T14:42:21.490Z
       
       1 likes, 0 repeats
       
       @mttaggart I'm also pretty cynical..it just needs to not be so painful that it drives independents to not show up for Biden or to vote against Biden.
       
 (DIR) Post #Ad0PUe4MA076cn9UAK by seanm@infosec.exchange
       2023-12-20T15:42:37Z
       
       1 likes, 0 repeats
       
       @mttaggart it's also hard to feel financially secure when even the fancy job sector (i.e., tech) just faced massive layoffs. Even if jobs are paying "better" they aren't stable.
       
 (DIR) Post #Ad0PXEOQ55EPrLlleS by mttaggart@infosec.town
       2023-12-20T16:00:49.164Z
       
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       @seanm Exactly! What good is a positive economy if corpos are still interested in layoffs?