4 ms·
The negative economic sentiment is very common and IMO entirely manufactured because it sells. Actual economic data is excellent. It kinda makes Haidt's point.
by ajmurmann 3y ago
The negative economic sentiment is very common and IMO entirely manufactured because it sells. Actual economic data is excellent. It kinda makes Haidt's point. Traditional media clearly isn't helping either though.
- maxerickson 3y agoI can see being concerned about the spiraling cost of housing, but that's a problem with a relatively straightforward solution.
- ajmurmann 3y agoHousing is definitely an issue. The obvious solution to that are probably my biggest policy issue. That said, homeownership rates in the US are close to an all-time high.
- readyman 3y agoAnd it's a problem that predominates literally every other aspect of one's life, and one's children's lives. Discussing it as though it's just one little exception is not just out of touch; it's practically insanity.
- readyman 3y agoGDP is not a meaningful measurement unless you somehow believe in nonsense trickle-down economics of the most extreme degree.
- verteu 3y agoBut inflation-adjusted median & 10th percentile wages have grown L20yrs, (per my other comment in the thread), right?
- readyman 3y agoSounds meaningful for the 10th percentile, but what about everybody else? I assume this is supposed to be a joke?
- ajmurmann 3y agoCan you provide a single metric that's bad right now? Employment is close to a record high, PPP median income is up. Housing cost isn't great, but homeownership rates are still as high as ever. It's mostly vibes that are down. Edit: the parent also called out median comp being up. Again, the persistence of the negative vibes without any actual data reinforces how the media now negatively impacts everyone's attitudes and ultimately mental health
- verteu 3y agoIt does seem that US COLA-wages are growing more slowly than Europe (though better than Canada), while our stock market outperforms. So one could make a claim that more profits should go to labor, rather than capital. Some numbers (all the usual "mean-vs-median" caveats apply, though IME it rarely changes much): France mean wages (2001-2022): 41706/26275 = 1.59 (2.2%/yr) France CPI (2001-2022): 108.74/80.39 = 1.35 (1.4%/yr) GB mean weekly wages (2001-2022): 599/321 = 1.87 (3.0%/yr!) GB CPI: 114.6/73.5 (2001-2022): = 1.56 (2.14%/yr) Canada mean wages (2001-2022): 14,176.4/10,405.1 = 1.36 (1.5%/yr) Canada CPI (2001-2022): 146.3/96.8 = 1.51 (2.0%/yr) https://www150.statcan.gc.ca/ https://www150.statcan.gc.ca/ https://www.ons.gov.uk/economy/inflationandpriceindices/timeseries/l55o/mm23 https://www.ons.gov.uk/economy/inflationandpriceindices/time... https://www.statista.com/statistics/416204/average-annual-wages-france-y-on-y-in-euros/ https://www.statista.com/statistics/416204/average-annual-wa...
- ajmurmann 3y agoThings are still getting better though. One can be jealous that too little gets shared, but it's looking up for everyone. This is great!
- 2OEH8eoCRo0 3y agoHow much do you expect to trickle down? Everyone with a retirement account benefits. How is that nonsense?
- jncfhnb 3y agoSome is expected to trickle. But denying trickle down economics means denying that helping the rich is an effective way to help the poor.
- 2OEH8eoCRo0 3y agoWhat do you mean by helping the rich?
- fwip 3y agoWell, less than half of American households have money in their retirement account. And even for people with significant funds in their retirement accounts, that money will not be readily accessible (without penalty) for, on average, two decades or more.
- 2OEH8eoCRo0 3y agoYou can withdraw from a Roth IRA penalty-free after holding for 5 years.