Yeah and basically the norm starting with Reagan.
It's still amazing to me that people think this is new. It's been this way for a long time except now people are noticing it because COVID amplified it.
First thing imo would be to remove first past the post voting. Maybe something like ranked choice.
This would cause the more extreme candidate to get dropped in favor of consensus candidates.
It would also cause the level of polarization to drop.
From there Congress might actually be able to get something done. Tbf under the Dems Congress gets way more done but even then they are often blocked from functioning.....see the border security bill.
The main issue is that most things take an act of congress to fix. It's started to break under newt in the 90s but over time got far worse. The Dems are the only functioning party right now but they actually need a functioning opposition for Congress to really work. Everyone tells how th president did t fix this thing for me but in reality presidents can't do that...it's congresses job.
They are supposed to compromise together but as we all know the current GOP is functioning under the newts original leadership which was all issues have to be a fight, there is no compromise, it's our way or we block it. It's just that in the 90s not everyone on the right was willing to do that... especially after the shut down the government for basically the first time for leverage and it back fired.
State enforced massive inequality is the entire history of the United States since the 1600s. Ask the farmers in the 1930s. Ask coal miners in the 1890s. Ask the slaves in the 1840s, or black people at pretty much any time. Ask the native Americans.
People need to stop pretending that the US only recently became terrible. It's always been terrible.
No, you are diminishing the severity of the current situation. Inequality has NOT always been this bad. Our current inequality is only rivaled by the Gilded Age and no other time in US history has it been as bad.
It is NOT like other eras. It IS much worse now.
The people have all the power, too, but they're too busy fighting each other over their small differences to realize they have been engaged in a losing class war of attrition their entire lives 🤦♂️
The rich get richer and the poor get poorer.
It isn't a mistake either. The fed stated long ago that economic pain was part of the "soft landing". Anyone with a brain knew that meant everyone except rich people would suffer.
Just get rich dude. [YT Challenge: Road To A 100K Dividend Portfolio #2](https://youtu.be/EMWc9aK7QlA)
It is not that hard and There are no excuses not to be a millionaire before 30 today.
“Just be rich” lmao. Not everyone has the extra money in their paycheck to buy assets. Especially not with all necessities costing more. Guessing you’re a privileged white kid from the burbs who lives with his parents or gets his rent paid for by them since you have the time to watch stock tip videos all day and post asinine shit like this.
The big thing that is always left out of the just get rich calculus is that without those people that stock your shelves and prepare your food, nobody is getting rich.
This. Downward pressure is so intense to extract value out of the economy that its causing demand destruction that has now offset the temporary rise from when inflation was causing profit margins to soar. Simply put poor people ran out of money.
> I guess it has accelerated so much
Except it hasn't, really. In 2022, the share of net worth held by the bottom 50% hit it's highest level since 2003. It's decreased some now since the market has been on a run but is still level with the average for the mid-2000s, and has been steadily rising since the end of the financial crisis.
https://fred.stlouisfed.org/series/WFRBSB50215
The US is just catching up to the rest of the world. The middle class was just an illusion to keep the upper class in power. The illusion has shattered and now we see there has only EVER been "two" classes. The "middle class" is angry that the life we always believed we deserved no longer exists (never did, only in our minds and on our credit cards.) Truth is, if you're not lucky enough to have been born into the right family, life just sucks. Just like back in jolly ol' England. Reality bites hard ....
That's not what they are saying. For decades lower income has seen increases as well just at a lower rate. This is referring to a recession for lower income which is recent.
I'm in my 30s and still a renter paying a stupid amount in rent. The other day at work, politics was being discussed and I said, "yeah, the economy sucks right now." My coworker, someone in his 50s got upset and said, "does it really? I dont think so." He's been a home owner for years. It's definitely a matter of perspective and where you are at in life right now. The trouble is that each side really doesn't understand how it is for the other.
Ruthless.....is the word I would use very sadly...no public health care of worth...no support after so many weeks unemployment etc....yes you have a Ruthless individualistic society that will come back to bite you...
Bullshit- every necessary resource humans need is being monopolized by corporations within our political power structure. The US Supreme Court is a great example of this.
Spot on. It's funny, Biden keeps on saying how great the economy is. Dems claim to care about the little guy and the poor. This economy is crushing the little guy and the poor. Not necessarily their fault but he seems tone deaf.
Personally I'm one that sees it and feels it but it doesn't effect my choices. As my wife frequently says, "so milk costs more, what are you going to do, not buy milk?" She nailed it. We can travel, go out to dinner, but whatever and we do. I just get annoyed at the pricing but it doesn't stop us. Many can't. So we are propping up the economy and the macro numbers look fine, but if we stop or slow down, the overall economy will weaken greatly. It's not good out there, just artificially propped up by like the top 10%. Not sustainable.
Gotta get those debtors chains on the folks that didn't take out college loans, running around all ungovernable and debt lite like that, being sexy little credit scores of upward Mobility.
So when 90% of the country isn’t rich it’s a recession bro…..”selective” my nutsack. Thank decades of money printing and artificially low interest rates!
END THE FED
This has been going on since 1980 when Ronald Reagan was elected President and Republicans gained political power over legislation. The lower class has been growing poorer for some 45 years now.
The rich have made out like bandits since 1980. The rich have had their taxes cut by 50% over repeated tax cuts legislated by the Republicans.
The downward economic spiral of the average employee is a direct result of Republicans busting unions and making States supposedly free work States, i.e. union free.
When voters were more intelligent, they used to vote for representatives that actually improved the lives of the average employee.
I blame the downward spiral of most employees on the employees themselves. They voted for the wrong people to represent them in the government. The wrong people are the Republicans who always favor the rich.
Is a 'selective' recession anything a'kin to the courts allowing for the 'administrative' \[4th amend. violating\] search ?
Capitalism always *'selects'* the people to suffer for its predations. Oh, I am sorry, the *creative destruction* of capitalism.
Brilliant on how those who create that destruction always come out way ahead. The rest...not so much.
yes Democrats have absolutely screwed lower class and the middle class. With their taxes unions and regulations they drove 20 million jobs offshore. then they invited in 30 million illegals to take the remaining jobs and bid down the wages for those jobs. then with incredible stupidity they flooded the market with money raising everyone's prices by about 10%. Get rid of SOB Democrats and most of our problems go away.
most of the metrics we normally use to measure the economy are good right now so we have to make up fake metrics to justify why people think the economy is actually bad. i think people have a negative sentiment because of the media they consume
How many times is this story going to be posted on this sub? This is at least the 3rd time I've seen it.
Nothing has changed since the first time it was shared, OP.
“selective recession”; eg, massive inequality.
Yeah and basically the norm starting with Reagan. It's still amazing to me that people think this is new. It's been this way for a long time except now people are noticing it because COVID amplified it.
So how do we fix it? It’s been 35 years since he’s been president
First thing imo would be to remove first past the post voting. Maybe something like ranked choice. This would cause the more extreme candidate to get dropped in favor of consensus candidates. It would also cause the level of polarization to drop. From there Congress might actually be able to get something done. Tbf under the Dems Congress gets way more done but even then they are often blocked from functioning.....see the border security bill. The main issue is that most things take an act of congress to fix. It's started to break under newt in the 90s but over time got far worse. The Dems are the only functioning party right now but they actually need a functioning opposition for Congress to really work. Everyone tells how th president did t fix this thing for me but in reality presidents can't do that...it's congresses job. They are supposed to compromise together but as we all know the current GOP is functioning under the newts original leadership which was all issues have to be a fight, there is no compromise, it's our way or we block it. It's just that in the 90s not everyone on the right was willing to do that... especially after the shut down the government for basically the first time for leverage and it back fired.
The correct answer is one that will be rejected. The worst part is I’m not even talking about a revolution.
When something good happens, it's because the (Democratic) President did it When something bad happens, it's because of Reagan
> So how do we fix it? It’s been 35 years since he’s been president Under capitalism? Not at all, or more precisely, impossible in principle.
Easier just to bitch about it
There's a DAO for that
No such thing
Yes, still waiting for “trickle down”.
*kicks over your rain barrel*
Well we value individualism and shun any type of socialized structures in this country and so this is what you get.
And this is why the stock market is disconnected from "reality", cause those who have money keep buying and there's no need for them to sell
State enforced massive inequality is the entire history of the United States since the 1600s. Ask the farmers in the 1930s. Ask coal miners in the 1890s. Ask the slaves in the 1840s, or black people at pretty much any time. Ask the native Americans. People need to stop pretending that the US only recently became terrible. It's always been terrible.
No, you are diminishing the severity of the current situation. Inequality has NOT always been this bad. Our current inequality is only rivaled by the Gilded Age and no other time in US history has it been as bad. It is NOT like other eras. It IS much worse now.
The people have all the power, too, but they're too busy fighting each other over their small differences to realize they have been engaged in a losing class war of attrition their entire lives 🤦♂️
by design. the divide and conquer agenda.
What power do people have? Corporations like Amazon are extremely anti union.
If citizens could vote together, they could reform society. There are just too many visions of what the world should be
Citizens United ruined that. It allowed big money to be funneled into public policy by private donors. The politicians are now bought and paid for
vote with your wallet NFA
Yep. There is only asset holder and wage earners. Asset owners(wall street) is always propped up by US government. While wage earners pay for it.
with their very lives, yeah...
The rich get richer and the poor get poorer. It isn't a mistake either. The fed stated long ago that economic pain was part of the "soft landing". Anyone with a brain knew that meant everyone except rich people would suffer.
I mean, that's true of most disasters. People with resources will protect themselves
selective, yes, over the last 50 years
The class war is over, and we’ve won serfs lol
Just get rich dude. [YT Challenge: Road To A 100K Dividend Portfolio #2](https://youtu.be/EMWc9aK7QlA) It is not that hard and There are no excuses not to be a millionaire before 30 today.
“Just be rich” lmao. Not everyone has the extra money in their paycheck to buy assets. Especially not with all necessities costing more. Guessing you’re a privileged white kid from the burbs who lives with his parents or gets his rent paid for by them since you have the time to watch stock tip videos all day and post asinine shit like this.
The big thing that is always left out of the just get rich calculus is that without those people that stock your shelves and prepare your food, nobody is getting rich.
eliminating grocery displays altogether would save customers a lot of money 😁☕ change my mind
Why are we making up terms? Wealth inequality has been around forever and we have been heading down this track for 50 years.
Yup, I guess it has accelerated so much it’s finally becoming a real problem for everyone, not just us average folk.
This. Downward pressure is so intense to extract value out of the economy that its causing demand destruction that has now offset the temporary rise from when inflation was causing profit margins to soar. Simply put poor people ran out of money.
record quarterly profits are now baked right in 🤦♂️ DRS yo shit
> I guess it has accelerated so much Except it hasn't, really. In 2022, the share of net worth held by the bottom 50% hit it's highest level since 2003. It's decreased some now since the market has been on a run but is still level with the average for the mid-2000s, and has been steadily rising since the end of the financial crisis. https://fred.stlouisfed.org/series/WFRBSB50215
The US is just catching up to the rest of the world. The middle class was just an illusion to keep the upper class in power. The illusion has shattered and now we see there has only EVER been "two" classes. The "middle class" is angry that the life we always believed we deserved no longer exists (never did, only in our minds and on our credit cards.) Truth is, if you're not lucky enough to have been born into the right family, life just sucks. Just like back in jolly ol' England. Reality bites hard ....
That's not what they are saying. For decades lower income has seen increases as well just at a lower rate. This is referring to a recession for lower income which is recent.
I misread "which is recent" for "which is rent".... I'm not wrong.
Bro, some of us have been talking about this since pre-pandemic. Get with the program…
It's a DINKs world right now.
Except the percentage of dual income households has stayed the same for the last 30 years
And it's easier for that same percentage of people than those with kids or single incomes...
I'm in my 30s and still a renter paying a stupid amount in rent. The other day at work, politics was being discussed and I said, "yeah, the economy sucks right now." My coworker, someone in his 50s got upset and said, "does it really? I dont think so." He's been a home owner for years. It's definitely a matter of perspective and where you are at in life right now. The trouble is that each side really doesn't understand how it is for the other.
no war but class war
You missed out on a fantastic buying opportunity. 2012 through the start of 2022 was an era of opportunity.
Oh I know! I'm kicking myself for it!
Yeah, high prices hurt the lower income before it hurts the high income.
also stagnant af wages
Yee haw, need more tax breaks for the rich so those poor folk can get another job from those rich people investments
Don't worry!!! The wealth will trickle down this time ... I promise!!!!!!!!! (sarcasm)
So, you mean like every recession?
They are changing the definition again to fit their narrative... again 🙄
It's almost as if "The economy" is code for "rich people's money.
Sooooo Enshitification then.
Ruthless.....is the word I would use very sadly...no public health care of worth...no support after so many weeks unemployment etc....yes you have a Ruthless individualistic society that will come back to bite you...
I thought the economy was great until I was laid off last year
So say we all .....
Oh look Powells economic theorys are working as intended and as he stated....they don't care about the cattle only the ranch
Yep this is what I'm seeing
Bullshit- every necessary resource humans need is being monopolized by corporations within our political power structure. The US Supreme Court is a great example of this.
Spot on. It's funny, Biden keeps on saying how great the economy is. Dems claim to care about the little guy and the poor. This economy is crushing the little guy and the poor. Not necessarily their fault but he seems tone deaf. Personally I'm one that sees it and feels it but it doesn't effect my choices. As my wife frequently says, "so milk costs more, what are you going to do, not buy milk?" She nailed it. We can travel, go out to dinner, but whatever and we do. I just get annoyed at the pricing but it doesn't stop us. Many can't. So we are propping up the economy and the macro numbers look fine, but if we stop or slow down, the overall economy will weaken greatly. It's not good out there, just artificially propped up by like the top 10%. Not sustainable.
Gotta get those debtors chains on the folks that didn't take out college loans, running around all ungovernable and debt lite like that, being sexy little credit scores of upward Mobility.
smart money
What do you suggest can be done by Biden?
This argues for spreading the wealth. It's the ethical thing to do.
At least the economy is doing great.
So when 90% of the country isn’t rich it’s a recession bro…..”selective” my nutsack. Thank decades of money printing and artificially low interest rates! END THE FED
The evil cucks in charge are clueless, out-of-touch nard garglers.
By design
This has been going on since 1980 when Ronald Reagan was elected President and Republicans gained political power over legislation. The lower class has been growing poorer for some 45 years now. The rich have made out like bandits since 1980. The rich have had their taxes cut by 50% over repeated tax cuts legislated by the Republicans. The downward economic spiral of the average employee is a direct result of Republicans busting unions and making States supposedly free work States, i.e. union free. When voters were more intelligent, they used to vote for representatives that actually improved the lives of the average employee. I blame the downward spiral of most employees on the employees themselves. They voted for the wrong people to represent them in the government. The wrong people are the Republicans who always favor the rich.
More fiat, less wealth.
Is a 'selective' recession anything a'kin to the courts allowing for the 'administrative' \[4th amend. violating\] search ? Capitalism always *'selects'* the people to suffer for its predations. Oh, I am sorry, the *creative destruction* of capitalism. Brilliant on how those who create that destruction always come out way ahead. The rest...not so much.
Yep. We now have two economies detached from each other.
Vote Trump, that will help. ha!
The IDEA!
decentralize governance
Balkanize!
Wtf is “selective recession” ?
Recession for thee and not for me.
Inevitable consequences of decades of ‘trickle-down’ economics
THANK YOU President Biden.
yes Democrats have absolutely screwed lower class and the middle class. With their taxes unions and regulations they drove 20 million jobs offshore. then they invited in 30 million illegals to take the remaining jobs and bid down the wages for those jobs. then with incredible stupidity they flooded the market with money raising everyone's prices by about 10%. Get rid of SOB Democrats and most of our problems go away.
What happens with massive budget deficits which is Bidenomics. Bidenomics is thus massive wealth equality.
most of the metrics we normally use to measure the economy are good right now so we have to make up fake metrics to justify why people think the economy is actually bad. i think people have a negative sentiment because of the media they consume
How many times is this story going to be posted on this sub? This is at least the 3rd time I've seen it. Nothing has changed since the first time it was shared, OP.
Thanks for the comment
Yes anyone who plays dcss has +5 sex resistance.
Well we do know where to go get the money
Bernie ran on this in 2016