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The Cost-of-Living Crisis Explains Everything (www.theatlantic.com)
submitted 5 days ago by yogthos@lemmy.ml to c/news@hexbear.net
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[-] 2Password2Remember@hexbear.net 40 points 5 days ago* (last edited 5 days ago)

the word "economy" at this point has two completely separate meanings. when regular people use it, they mean the cost of housing, groceries and gas, as well as the job market. when the word "economy" is used in the press, however, it means "the stock market and the rate of return on real estate investments." these two ideas do not overlap at all, really, so I think we need to coin new terms to describe them

Death to America

[-] Belly_Beanis@hexbear.net 22 points 5 days ago

They describe two sides of the same thing. Stocks and real estate are doing well because they come at the expense of everyone else who owns no capital. It's proletariat vs. the bourgeois and their relationship to the means of production.

[-] 2Password2Remember@hexbear.net 9 points 5 days ago

true, that's a good point. i do think that when regular people use the word economy, though, they aren't really thinking about things like student debt/education costs, healthcare costs, taxpayer money being wasted on arms manufacturing, etc., which all contribute to the profits reaped by the bourgeoisie. most people conceive of those issues as "politics" and therefore separate from what they think of as "the economy", IMO, so what we've really got is three meanings under the same word:

  1. the two sides of the coin you mentioned, i.e., the marxist understanding of the economy

  2. the stocks and real estate side of the coin, i.e., the graph of rich people's feelings that liberal propagandists are thinking of when they talk about the economy in newspapers

  3. a subsection of the cost of living side of the coin, i.e., rent, groceries, gas and the job market, which is what the other 95-99% of people mean when they use the word economy

Death to America

[-] hotcouchguy@hexbear.net 11 points 5 days ago

If anything they're opposites

[-] culpritus@hexbear.net 26 points 5 days ago

The stock market is on fire. Productivity is strong, and start-ups are booming. The United States’ GDP growth rate is double that of the European Union. The Biden administration helped create that economy.

Is this an admission about Nordstream? is-this

[-] someone@hexbear.net 18 points 5 days ago

The stock market is on fire.

That sounds like a good idea.

[-] finderscult@lemmy.myserv.one 24 points 5 days ago

Material conditions effect the way people act in relation to society‽

That can't be it.

[-] eldavi@lemmy.ml 10 points 5 days ago* (last edited 5 days ago)

my first hand experiences of having the wealth divide manifested literally in front my face and being surrounded by it on an almost daily bases while i leverage my visible minority identities like a cloak to shield my relative privilege so that i can invisibly maneuver around the hungry & unhoused mass of people proves that this is true.

also: the fact that i keep repeating this experience in the most liberal of cities in this country over the decades and that this phenomena was predicted in theory (as well the fact that it was written generations ago, but still completely relevant to today) proves to me that what you've shared is undeniably true and it boggles my mind that this is not more commonly known.

when i see .worlder's hellbent on repeating history, it's become difficult not to just give up and lol at leopards-ate-their-face-ees; but if we don't start helping each out more, trump's leopards are going to be eating ALL of our faces.

[-] sewer_rat_420@hexbear.net 22 points 5 days ago

During the past 4 years, our wages have improved as a family unit. Despite this, we actually have a bit of credit card debt now as well, because our rent is astronomical, and electricity cost nearly doubled. And we all know how bad groceries have been, collectively these have also gone up for our household by at least 50%

If we didnt have "good" health insurance we would be completely screwed. Not excited to see how bad healthcare is going to get over the next 4 years as my wife has a chronic illness.

Regardless of all this, the dems strategy was "well ackshually gdp is up" and they expected that to convince voters to go out to the polling station in between their second and third jobs

[-] coeliacmccarthy@hexbear.net 22 points 5 days ago

actually an evil russian wizard cast a racism spell on a bunch of black and brown people

[-] Ericthescruffy@hexbear.net 11 points 5 days ago

What the fuck?! I've seen some similar tales from content creators now....is this a "Ok ok, I know we tried to gaslight you and all but we get it, actually the economy isn't great for you!"

[-] DragonBallZinn@hexbear.net 11 points 5 days ago

Yeah cool “strong economy”.

Can’t find a job tho.

[-] stink@lemmygrad.ml 8 points 5 days ago

I know I sound like a piece of shit but I've applied to quite literally 400+ jobs over the past half-year.

Had two phone screenings and two actual interviews.

This past week I've had 3 recruiters hitting ME up to apply to positions (hopefully I get an actual interview lol.)

Job market seems to hopefully be on the come-up, Inshallah 🤲

this post was submitted on 12 Nov 2024
56 points (100.0% liked)

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