4 ms·
I think you had a little projection there calling me in a bubble. Why don't we focus on what is actually happening instead discrediting who I am with assumption
by revlolz 4y ago
I think you had a little projection there calling me in a bubble. Why don't we focus on what is actually happening instead discrediting who I am with assumptions.
Wages are stagnant, energy costs are going up.
Hourly Wages change yoy
https://fred.stlouisfed.org/graph/?g=Zeb7 https://fred.stlouisfed.org/graph/?g=Zeb7
Energy Price Index
https://fred.stlouisfed.org/graph/?g=Zebr https://fred.stlouisfed.org/graph/?g=Zebr
>food prices have come down
False, and before you blame the egg crisis on the reported avian flu, milk and bread demonstrate the same rise. Pick a product, it's gone up, PPI for all commodities shot up indicating macro changes to the economy (in this case reactions to inflation where producers raise rates) https://fred.stlouisfed.org/graph/?g=Ze8G https://fred.stlouisfed.org/graph/?g=Ze8G
eggs
https://fred.stlouisfed.org/graph/?g=Ze80 https://fred.stlouisfed.org/graph/?g=Ze80
milk
https://fred.stlouisfed.org/graph/?g=Ze8b https://fred.stlouisfed.org/graph/?g=Ze8b
bread
https://fred.stlouisfed.org/graph/?g=Ze8h https://fred.stlouisfed.org/graph/?g=Ze8h
>housing is crashing
True, but not in ways that helps consumers. Landlords are doubling down and renting. Properties are sitting on market far longer than normal. Median sales price will decrease with interest rate changes, but with the root cause issue unresolved of lack of construction (supply), very large demand as the new generations age, and flippers and renter barons unchecked.. The housing market is not going to be affordable for low, middle, or even upper middle class citizens. I also think this kind of talk completely belittles how massive of a change occurred to housing prices in the last 5 years. Compare that to wage increases and viola, your normal every day person is in bad shape.
median sales price
https://fred.stlouisfed.org/graph/?g=Ze67 https://fred.stlouisfed.org/graph/?g=Ze67
Do you want anecdote? People aren't doing well. Go talk to your neighbors. A single corrective change percent movement from GDP reported by Axios is manipulative and a narrative article in my opinion.
- comte7092 4y ago>Wages are stagnant The graph you linked shows wages increasing every month, consistently, over the last two years. It is also not measuring YoY, it’s MoM.
- revlolz 4y agoFair enough, I did not concisely or accurately demonstrate that wages adjusted for cpi have returned to ~2019 levels which in my mind seems stagnant.
- comte7092 4y agoThat’s a fair assessment. Wages have not adjusted uniformly, while inflation tends to hit people fairly equally, so some have benefited significantly more than others, while other have suffered significantly more than the rest.