this post was submitted on 07 Nov 2024
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Analyzing the economy is a measure of how well the capitalist engine is running. Is the supply being met by demand (perpetually rising GDP)? Is everyone contributing to growth (low unemployment, growing market caps)? To focus on these points is capitalism, what the corporations want. This is necessarily paired with trickle-down economics to explain why you should give a shit about stocks you don't own going up.
You won't ever see measures of the economy focusing on people. Are the workers able to pay rent and bills and contribute to savings? Are workers going hungry? Does the minimum wage provide an acceptable minimum standard of living? Are wages keeping up with inflation? Are workers accumulating their own wealth? To focus on these points is populism, what the people want.
The economy is doing great! Corporations are posting record profits every quarter. But workers are getting fucked harder every year. People are mad because their life isn't easy and they can't afford a stable existence. When lots of people are unhappy, they want drastic action. 20k on a 500k house and a child care credit ain't it. Deporting 20,000,000 people and "draining the swamp" is drastic. It's objectively stupid, but at least it's action and people are thirsty for anything because what we're currently doing isn't working.
If anyone wants to win the next election, all they need is a populist platform. For Dems, that's progressivism and an infatuation with unions. It's us (the people) against them (the corporations). For Rs, it's a straightforward culture war. It's us (the true patriots) against them (the social outgroups).
Some of the most important measures of the economy are focussed on people. There’s a huge industry to measuring inflation as literally the costs that people bear, and yes there are various measures of income, typical families, job trends. How can anyone miss the concern over the last decade or so about the growth of low paying service jobs over better paying more specialized jobs?
“Draining the swamp” is surely one of the catchiest of many catchy slogans coined by Trump. We’re all frustrated about how much of our income disappears into government especially when we don’t understand where it goes. But the goal people think they’re voting for is entirely inconsistent with gutting agencies that help them, with the rampant cronyism, corruption, corporatism. Essentially every fact and four years of experience show the reality as entirely the opposite to the myth.
But yeah, I see the need for populism. Clinton had it, Obama had it, but so many Democrats can’t get across the finish line without it, regardless of intentions or capability. I had a lot of hope for Harris and Walz as campaigns built their popular images, but then it fizzled