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I thought for sure it was war in Europe, bubbles burst in Chinese real estate, and a general fracturing in the west vs the rest globalization but ok

• lenerdenator 2y ago
  And we've faced more headwinds than that before. The difference is, before, people had at least some confidence in their ability to make a living. We've whittled down the average person's wages and job security to the bone and when people don't feel secure, they don't spend, or maybe they do, but they put it on the card... which is another problem and story unto itself. And places like McKinsey are a part of the knife that did that whittling. Anyways, when people don't spend, businesses don't do better over the long term.
  • FredPret 2y ago
    What data are you looking at that shows decreasing wages and spending?
    • wombatpm 2y ago
      Stagnant wages in high inflation is the same as decreasing wages
      • FredPret 2y ago
        Show me that data. Here’s the opposite perspective: Real disposable income is up: https://fred.stlouisfed.org/series/A229RX0 https://fred.stlouisfed.org/series/A229RX0 Real median personal income is up: https://fred.stlouisfed.org/series/MEPAINUSA672N https://fred.stlouisfed.org/series/MEPAINUSA672N
  • jncfhnb 2y ago
    We’ve faced more headwinds… and experienced vast worse economic conditions too. The current situation is one of uncertainty that things may get worse. It’s not even a recession.