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As someone doing OK economically, when I go to the grocery I see the same thing they do: Prices are going up on key items much faster than income is rising. I d
by adamc 2y ago
As someone doing OK economically, when I go to the grocery I see the same thing they do: Prices are going up on key items much faster than income is rising. I didn't vote based on that, but that doesn't mean they are wrong that it's a problem. It's easy to imagine that if you were barely making it, things are worse now.
Rising income isn't a phenomenon that hits everyone equally.
- eitally 2y agoIndeed. The problem is that for most people income doesn't really go up unless they change jobs. Or, at least it goes up so slowly (0-3%/yr) as to be undetectable compared to, for example, the price of a loaf of bread going from $4.99 (2020) to $5.99 (2023) to $6.99 (July 2024) to $7.99 (December, 2024). I think the "vibecession" concept makes sense when considering CPI of consumables since individuals are far more attuned to price changes than they are for durable goods.