So bread can go back to being $.99 a loaf, right?
this post was submitted on 27 Jul 2024
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No economy for poors, remember? We need to sacrifice so the best and brightest can afford another spaceship.
Income growth over the last few years has been the fastest for the poorest.
Thank goodness 78% of Americans are not living paycheck to paycheck. I stand corrected.
https://www.forbes.com/advisor/banking/living-paycheck-to-paycheck-statistics-2024/
Prices will never go down. If they do, we're in big trouble.
What needs to happen is wage growth out pacing price inflation. Which is a tricky thing to do.
Food inflation was only "1%"
Aka prices still went up lol
Rent seeker never lowers the rent... Because that would cut profit margin and we can't really boycott bread lol
1% (annualized) inflation on food is on the low end of good. It would still be a good number up to around 3%.
only of you are larping "economist" bullshit that they push for their rent seeking owners.
prices should vary based on inputs however we live under the regime where they are set up to go up at a higher rate than the wages.
amazing how prices rarely go down even if inputs costs did like recently. money changer is always in middle to capture any of that efficiency
Prices going down is a bad thing. This is an extremely basic concept.
Love that people on Lemmy are as economically illiterate as those on /r/economics.
cute
Oh yeah, I hate saving money. Saving money is a very bad thing.
Not how this works.
You parrot tired talking points by economists whose job is to run PR for the rich and then when challenged on it you say the also tired "not how this works" line. Go ahead and explain how it works then. Tell us all how consumers having more money to spend on more products and services is bad, but more money going into fewer hands is great for the economy.
neat
If you're going to be a troll, at least make it entertaining.
I’m not trolling; everything I said was both earnest and correct. You are just not worth my time or any subsequent reader of this thread’s time.
yawn
No, because then the GDP would go down since the bread that is produced is less "valuable".
Remember folks, "the economy" means "rich people's yachts".
That's good news. I mean, it's better news for some than others. A good economy does seem to benefit some much, much more than others, so it's especially good news for those who benefit the most. For most of the rest of us, it's fine news. Like, that's nice, I guess.
Income growth has been the fastest the poorest.
Like I said, good news.
The first 3 words of you original comment.
The rest is the most wishy-washy "oh yeh, good for some" non-commital nonsense ever.
But yes, wage growth for working class is a fantastic thing
The rest is the most wishy-washy "oh yeh, good for some" non-commital nonsense ever.
Well, it's unequivocally true that the benefits of profit and growth are not distributed among the population equally. Far from it. I'm sorry if my pointing that out offends you, but it is nonetheless true.
Well, whatever.
Compost the rich and eat the veg they fertilize