Is America going through an economic depression but being lied to about it by the gov?

[Tribal Outkast]

I mean people are still spending money so somebody is doing ok I live in an area where the outlet malls and sone stores stay full though. You know it’s ugly when these stores are ghost town status.. We already had that going on though.

 

[EndDomination]

Well, if you convince the masses that it's not happening which is what I'm starting to think because something aint right. I've literally have seen like 5 business just disappear within 6 days of the new year around here. all of them citing that they had to close due to financial hardships. not even 10 miles.

Depressions are largely measured by negative GDP growth, anecdotal issues with business sustainability isn't the same thing as a recession or a depression.

You also need to look at the economic system as a whole, while national growth is the current idealized measure - just because there is GDP growth doesn't mean the lifestyle or the average standard of living is going up or down. Quite the opposite actually, it almost always means a sustained growth in the wealth of the wealthiest in society, with only mild changes for the working classes.

I don't think your instincts are entirely off base, but no, we're not currently going through an economic depression.

 

[Pazzy]

No.

And I think you deeply misunderstand what an economic depression is. In fact, I think most people do.

Maybe but I know money is most definitely getting tight around a lot of places. It seems like an economic collapse is becoming more and more realer.

 

[Pazzy]

I mean people are still spending money so somebody is doing ok I live in an area where the outlet malls and sone stores stay full though. You know it’s ugly when these stores are ghost town status.. We already had that going on though.

Maybe so but eventually shyts gonna slow down where you're at too. It's only a matter of time.

 

[ExodusNirvana]

The media is lying. Housing prices are through the roofs but salaries aren't going up, so how are people affording all of these houses? The crime rate has risen significantly partly due to inflation and the economy.

Housing prices are going up because people are selling their homes....salaries not rising has nothing do to with this especially since firms like Blackrock are buying homes in order to increase their assets

I don't think you know what you're talking about here

 

[EndDomination]

Maybe but I know money is most definitely getting tight around a lot of places. It seems like an economic collapse is becoming more and more realer.

It's definitely tight - and the wage stagnation over the past 30 years is a key part of that. Wages are staying the same, but pretty much every metro area in the U.S. has substantially more expensive.
Even as profits are skyrocketing and parts of the stock market are booming.

Again, its because the economic growth is almost exclusively in the hands of the wealthy, the average American isn't seeing any of the fruits of their labor, beyond their low wages.

 

[Pazzy]

Housing prices are going up because people are selling their homes....salaries not rising has nothing to with this especially since firms like Blackrock are buying homes in order to increase their assets

I don't think you know what you're talking about here

Houses ain't selling like that at the moment. They may have been in 2020 briefly but that ended REAL quick.

 

[Spiritual Stratocaster]

Everywhere I look new apartment buildings are being built.

Wages stay the same though...what gives?

shyt social security just now got a 5% increase the first since the 70s.


But also food a d rent increased so the SS increase is almost irrelevant.

Something has to give.

 

[ExodusNirvana]

The issue, as we pointed out many years ago....was giving tax breaks to the wealthy and corporations

We kept telling y'all that corporations are not some benevolent entities that will give the money away to the people, and that the tax revenue we don't get from them would be reflected negatively in other aspects of this country but many of you kept jerking these MAGA idiots off right on into a fukking global pandemic

STOP GIVING TAX BREAKS TO THE COPORATIONS AND THE WEALTHY, ONLY THEY BENEFIT FROM IT

 

[EndDomination]

Everywhere I look new apartment buildings are being built.

Wages stay the same though...what gives?

shyt social security just now got a 5% increase the first since the 70s.


But also food a d rent increased so the SS increase is almost irrelevant.

Something has to give.

Hopefully, with collective bargaining and unions showing some growth for the first time in years (and an increase in necessary militancy), they'll be able to guide that pressure into direct action to increase the wages and benefits for workers, and decrease the hours necessary to sustain a healthy life here in the U.S.

Otherwise, things will start to break down.

 

[ExodusNirvana]

Everywhere I look new apartment buildings are being built.

Wages stay the same though...what gives?

shyt social security just now got a 5% increase the first since the 70s.


But also food a d rent increased so the SS increase is almost irrelevant.

Something has to give.

Because cities are giving them tax breaks to build these things

And they are mostly staying empty because the cost of living is increasing in the places where they are being built so no one is actually moving in there

All of this shyt is LITERALLY what we were telling MAGA TLR the past few years but they kept trying to "stick it to the Libs" or whoever else they saw as an enemy and now here we are

 

[buzzkill]

we havent hit hyper inflation levels yet but i think things are about to slowly get worse

im copping precious metals and guns until shyt hits the fan

if they keep printing off money, people still not working, supply chain shortages, and covid keeps ripping through america with new variants we're fukked

the decline is definitely noticeable i think a lot of people are just lying to themselves along with the media/govt acting like everything is under control

 

[DEANBIGBROTHERALLMIGHTY18]

Just got an exceeds rating at work with a nice bonus and pay bump.
Plus a nice fat stack of RSUs are about to vest.
Bout to pay off my car in a month.
...and my mortgage is fixed at 2.875%.

Economy is looking okay from here, breh.

What do you do?

 

[EndDomination]

Housing prices are going up because people are selling their homes....salaries not rising has nothing do to with this especially since firms like Blackrock are buying homes in order to increase their assets

I don't think you know what you're talking about here

I will add as a note that the increase in home values, with the continued wage stagnation, points to two things: (1) the increased debt load on the average homeowner coupled with higher property taxes creating a real strain and; (2) the truly artificial pumping up of real estate process to increase the holdings of multinational investment firms. And both of these things are disastrous and will create a bubble.

The commodification of housing was a mistake.

 

[BaldingSoHard]

What do you do?

Man, these work from home brehs have hit the lottery.