GDP up: who cares 🤷
Jobs up: person - I’m still working for same old wages while expenses up
Stocks up: who cares; middle class melted away.
Inflation: doesn’t account for anything that actually matters
The media says the economy is good because:
- GDP is up
- Stocks are up
- Jobs are up
- Inflation is "only" 3.5%
All these numbers can be gamed. In particular, I wonder how much the GDP's rise is due to military spending that doesn't "trickle down" to the rest of the economy.
https://www.theguardian.com/us-news/article/2024/may/22/poll-economy-recession-biden
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