The Trump administration's dismissal of economic experts and advisory committees is a dangerous move that could lead to a recession. Can we afford to ignore the warning signs and let politics dictate our economic future?
Not really, maybe a blip of something in 2021-2022, but generally the US economy as a whole has been doing alright - Real GDP. Individual people though have been getting beaten up recently, but boy is that about to get worse.
the fantasy bullshit metrics that function as a half-lottery between the ultra wealthy, those have been doing fine
but nobody can afford rent eggs are 2$ each and nobody’s had a raise in years, so the way we distribute our resources WAS fine, but the lottery got weeird, so now our stuff is gonna get even more exploitative
I don’t disagree. My point was that we weren’t in a recession. Things may have been bad for many people, but that was when the “economy” was doing well.
Current indications are that the “economy” is heading for a downturn. If things were already rough for people, it certainly isn’t going to get better if that happens.
That’s a fair criticism, if things can get worse for people when we aren’t in a recession, then why would we care about recessions.
The truth is that a recession is just one metric that we use to track the economy. However, the economy is a big complex system and things like recession are there to track a global state, and aren’t refined enough to track things like inequality.
One failing in recent times for economic data is around “full employment vs part time employment” and other things like “is this person making a livable wage”. The hard thing with a lot of inequality or livable wage discussions is they are inherently political and not something that is as easy to track/detail/communicate/etc. vs numbers like GDP.
So, yes having better numbers would be great, but most likely this admin will fudge and hide numbers making things even more difficult to track (both now and in the future). Additionally while people are hurting now, during a recession even more people will be hurting (and most likely hurting worse than they are now).
so, the economy is just who’s doing what work, who’s getting what reward for it, and how we decide which work gets done.
and it doesn’t seem like the stock market and GDP and all that nonsense is ever anything but an excuse for that. it’s just the casino rich people play at.
We’ve been in a recession. The word you’re looking for now is depression.
Not really, maybe a blip of something in 2021-2022, but generally the US economy as a whole has been doing alright - Real GDP. Individual people though have been getting beaten up recently, but boy is that about to get worse.
read that back to yourself, dear.
I don’t disagree. My point was that we weren’t in a recession. Things may have been bad for many people, but that was when the “economy” was doing well.
Current indications are that the “economy” is heading for a downturn. If things were already rough for people, it certainly isn’t going to get better if that happens.
why not? it’s nonsense. it going up is never good. seems like it going down would just be an excuse too.
That’s a fair criticism, if things can get worse for people when we aren’t in a recession, then why would we care about recessions.
The truth is that a recession is just one metric that we use to track the economy. However, the economy is a big complex system and things like recession are there to track a global state, and aren’t refined enough to track things like inequality.
One failing in recent times for economic data is around “full employment vs part time employment” and other things like “is this person making a livable wage”. The hard thing with a lot of inequality or livable wage discussions is they are inherently political and not something that is as easy to track/detail/communicate/etc. vs numbers like GDP.
So, yes having better numbers would be great, but most likely this admin will fudge and hide numbers making things even more difficult to track (both now and in the future). Additionally while people are hurting now, during a recession even more people will be hurting (and most likely hurting worse than they are now).
“economic”
so, the economy is just who’s doing what work, who’s getting what reward for it, and how we decide which work gets done.
and it doesn’t seem like the stock market and GDP and all that nonsense is ever anything but an excuse for that. it’s just the casino rich people play at.