https://www.cnbc.com/2024/07/25/us-gdp-q2-2024.html
Gross domestic product in the second quarter was expected to show a 2.1% annualized increase.
No economy for poors, remember? We need to sacrifice so the best and brightest can afford another spaceship.
Income growth over the last few years has been the fastest for the poorest.
Thank goodness 78% of Americans are not living paycheck to paycheck. I stand corrected.
https://www.forbes.com/advisor/banking/living-paycheck-to-paycheck-statistics-2024/
Prices will never go down. If they do, we're in big trouble.
What needs to happen is wage growth out pacing price inflation. Which is a tricky thing to do.
Food inflation was only "1%"
Aka prices still went up lol
Rent seeker never lowers the rent... Because that would cut profit margin and we can't really boycott bread lol
1% (annualized) inflation on food is on the low end of good. It would still be a good number up to around 3%.
only of you are larping "economist" bullshit that they push for their rent seeking owners.
prices should vary based on inputs however we live under the regime where they are set up to go up at a higher rate than the wages.
amazing how prices rarely go down even if inputs costs did like recently. money changer is always in middle to capture any of that efficiency
You parrot tired talking points by economists whose job is to run PR for the rich and then when challenged on it you say the also tired "not how this works" line. Go ahead and explain how it works then. Tell us all how consumers having more money to spend on more products and services is bad, but more money going into fewer hands is great for the economy.
That's good news. I mean, it's better news for some than others. A good economy does seem to benefit some much, much more than others, so it's especially good news for those who benefit the most. For most of the rest of us, it's fine news. Like, that's nice, I guess.
Income growth has been the fastest the poorest.
The first 3 words of you original comment.
The rest is the most wishy-washy "oh yeh, good for some" non-commital nonsense ever.
But yes, wage growth for working class is a fantastic thing
The rest is the most wishy-washy "oh yeh, good for some" non-commital nonsense ever.
Well, it's unequivocally true that the benefits of profit and growth are not distributed among the population equally. Far from it. I'm sorry if my pointing that out offends you, but it is nonetheless true.