this post was submitted on 20 Dec 2023
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Okay but it's an election year so if we tell you it's booming enough, some of your idiots will think it's true
It’s booming for some people. Look at all the spending. And for anyone with a 401k, or and brokerage they’re seeing 30% growth yoy. It’s booming. It’s just not booming for everyone.
This barely exceeds inflation. Used cars are up 35%, electricity costs 18-55% depending on region, groceries up 28%. That "growth" you mention is only on paper, there's no increased buying power behind it.
Regardless, you'd have to be a sociopath to say that a few people making more money (on paper, again) still qualifies a booming economy in the face of
Child poverty rate +138%
+11,000,000 kicked off Medicaid
Record homelessness
60% living paycheck-to-paycheck
The only rational conclusion we can make from this is that the metrics we use to measure a booming economy are fundamentally broken.