3 ms·

> We'd kill for 4.5% growth. Speak for yourself. I'm not a member of the cult of the always upward line. Regular people don't really benefit from this growth.

astrange 3y ago
They very much do. The CCP is in power entirely because economic growth has been so consistently good. The people would've gotten rid of them otherwise. And in the US, do you remember 2008-2010? That's what no growth is like. It means you don't have a job.
- willcipriano 3y ago
  > It means you don't have a job. Only when paired with unlimited immigration, population is on the decline otherwise, no job growth plus a falling population is a great situation for workers.
  - astrange 3y ago
    Immigrants are a positive demand shock and make it more likely that you have a job. No growth may be good for retirees. It's bad for workers though.
    - willcipriano 3y ago
      > Immigrants are a positive demand shock Ask low skill workers how that's been working out for them. The effects of this positive demand hasn't made it to them, instead they control less of the economy year after year.
      - astrange 3y ago
        Totally untrue in multiple countries! There's only one economist who publishes research supporting this (Borjas) and essentially everyone else thinks he's making it up. https://www.noahpinion.blog/p/why-immigration-doesnt-reduce-wages https://www.noahpinion.blog/p/why-immigration-doesnt-reduce-... The bottom 10% of US workers have seen faster wage growth than anyone else starting in 2019, and through 2022 were the only people with wages growing faster than inflation. https://www.epi.org/publication/swa-wages-2022/ https://www.epi.org/publication/swa-wages-2022/ That's why I said 2008 - because it's not 2008 anymore: https://fred.stlouisfed.org/series/LNS12300060 https://fred.stlouisfed.org/series/LNS12300060
2OEH8eoCRo0 3y ago
Everyone with a retirement savings benefits.
- deleted 3y ago
  [deleted]

astrange 3y ago

They very much do. The CCP is in power entirely because economic growth has been so consistently good. The people would've gotten rid of them otherwise. And in the US, do you remember 2008-2010? That's what no growth is like. It means you don't have a job.

willcipriano 3y ago
> It means you don't have a job. Only when paired with unlimited immigration, population is on the decline otherwise, no job growth plus a falling population is a great situation for workers.
- astrange 3y ago
  Immigrants are a positive demand shock and make it more likely that you have a job. No growth may be good for retirees. It's bad for workers though.
  - willcipriano 3y ago
    > Immigrants are a positive demand shock Ask low skill workers how that's been working out for them. The effects of this positive demand hasn't made it to them, instead they control less of the economy year after year.
    - astrange 3y ago
      Totally untrue in multiple countries! There's only one economist who publishes research supporting this (Borjas) and essentially everyone else thinks he's making it up. https://www.noahpinion.blog/p/why-immigration-doesnt-reduce-wages https://www.noahpinion.blog/p/why-immigration-doesnt-reduce-... The bottom 10% of US workers have seen faster wage growth than anyone else starting in 2019, and through 2022 were the only people with wages growing faster than inflation. https://www.epi.org/publication/swa-wages-2022/ https://www.epi.org/publication/swa-wages-2022/ That's why I said 2008 - because it's not 2008 anymore: https://fred.stlouisfed.org/series/LNS12300060 https://fred.stlouisfed.org/series/LNS12300060

2OEH8eoCRo0 3y ago

Everyone with a retirement savings benefits.

deleted 3y ago
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