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Inflation, shrinkflation, record corporate profits, rising home prices, the billionaire class getting orders of magnitude richer, and my paycheck going up a mere three percent a year... thats sort of why I feel like the economy sucks a bag of dicks.
I'm still doing well. I have a house. I have a car. I have a job.... but in comparison I'm not moving forward. So that is why I feel like the economy sucks.
"the economy" is not your economy or mine. If we made all our money from investments, we'd be doing ok. The growth in our wealth would be outpacing inflation.
Our wealth is tied to wages. As long as we impact someone else's bottom line, we won't be getting ahead, ore even keeping pace, with inflation.
You’re missing a piece here: corporate greed
That is why someone that could theoretically live on illiquid investments would be in a better position, especially since the market has been doing quite well all things considered. However in actual reality we need to buy shit from these corporate oligarchs and they are fleecing us because they can, not because of actual economic pressure.
You’re so close with your final sentence, but you miss the forest for the trees when you say getting ahead or keeping pace with inflation. Inflation is a charged word that encompasses more than just the problem here. Right now the majority of the problem which has actual impact to actual people begins and ends with out of control corporate greed and unrestrained capitalism.
You're right. I definitely didn't spell it out. I think I forgot to mention it because in my mind, it goes without saying. Thanks for the heads up. Not everyone lives in my mind, right? Lol.
It’s not about the economy when corporate raises prices because they can instead of because of actual economic pressure.
My wife and I both got huge raises in the past 2 years, my investments have done well as I switched a bunch to some more aggressive funds when I became confident a soft landing was likely, the value of my house has sky rocketed nearly 50% over the past few years, and we've saved enough to be able to do a significant upgrade to our modest house.
Should I think the economy is great or should I recognize that my personal experience is not "the economy"?
I think the point is, most people don't view the economy through the same economic lens as an economist, or the Fed. People view the economy through their lens of how far their money goes.
Sure, McDonalds, Zuck, Musk, Starbucks, Boeing are all doing well... but I just paid 8 bucks for two cups of small drip coffee at my local shop, and 40 bucks to feed my family of four at McDonalds.