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It depends on who "we" are.
If you're in the US, then bad news buttercup - you're already under the thumb of a ruthless insane dictator, and the economy is the last of your worries.
We are heading into a feudal system of a sort. The wealth gap is absolutly massive and the only way to end up in the upper class is to inherit. As per usual the population feels that the system is unfair, but is unable to see the real problem. Media is really pushing far right talking points, as the upper class realizes that the system is broken and a real revolution is a problem. Thats how the US ended up with a de facto monarchy. The UK is moving towards that pretty quickly too.
The good news is that Labour might make some really usefull changes. Mainly end first past the post to prevent Reform from taking over. That might very well allow left wing parties like the LibDems and Greens to win more seats and change the narrative.
What makes you think Labour are looking to change that?
Labour had a bit more then a third of the votes, which is pretty close to were Reform is polling today. However Labour won a massive majority with those votes. If Labour wants to prevent a Reform victory they need to change the election system. It is even worse for the Tories. So long term Tory supporters will cheer them on.
I know that makes sense to do, but that's different from them making plans to do it
We are always headed for a crash. That’s the cycle of capitalism without strong regulatory mechanisms to mitigate it. I believe it is every 4-7 years that a crash has happened in the last 300 years.
Don't worry. Trump is making sure you can get a job picking crops. You'll be living in a tent. No rent, not utilities. You're welcome!
We're headed for a revolution, of the French variety.
Bonjour
And I just found out I need a new job as we are being ordered into the office after they moved it 50 miles away.
Things are not looking good. I think they will hit us with another round of redundancies after some people leave too.
That's scary. How are you holding up?
Scrolling through indeed right now, its not great. Maybe just give up trying to find anything I have skills for and find something unskilled?
But I think my contract states once a month in the office so if I can argue that its probably worth staying and just going through a shit commute once a month. Still not great but probably slightly better than taking a local retail job.
I've been WFH since Covid forced it, but then a year ago the promised us WFH full time was here to stay and only those that needed or wanted to be in the office could. They downsized buildings and everything. Nice!
They just told us we all had to be back in the office in a month. There isn't enough offices, not enough parking, we've blown away all the productivity metrics at home, half the company is out of state. But, uh, REASONS! We must have butts in THIS specific chair or work doesn't count.
There is literally no valid reason to force it. I think it's all about control and power. They really don't care about productivity or employee satisfaction at all, they just want to force everyone to comply. If they wanted either of those other things we've proved what works.
I hate it. It feels like the dumb "open office" fad all over again. Let's cram 200 people into a single giant open noisy room. Employees HATED it. Managers all gloated how innovative they were. Then it faded away again as they all slowly accepted that no one gets anything done in that chaotic environment.
So too with office vs home. We live in a digital age. The computer age. The internet age. Long gone is the age of work being done by shaking hands and looking at a binder of papers. It's an email, zoom call and a pdf now. Accept it.
In a weird way I'm actually looking forward to my company all going back with 0 coherent plan and not enough parking or desks and then I'll giggle as productivity and morale absolutely tanks.
It's also very likely they know a certain % will quit over it and do it on purpose to lay off without having to. The only problem is that all the most experienced and qualified people leave first.
Companies have had 5 years to accept reality, sell off the MASSIVELY expensive offices and stay fully remote where possible, but no, I think they want control over profits. They want to FEEL like they are managing instead of actually managing.
constructive dismissial, create a situation where it becomes untenable to stay at your job, eg far away location limit office space, so people resign. seems like it has been ogoing since '23. one of my bros was in tech, they just got impatient and straight up laid people off at the mid size tech company, gotta gid rid of people who are earning 200-400k/year to record profits. he hasnt found another job yet, and i detect a distinct hint of a late 30s life crisis too.
Slapping on tariffs at a time with inflation, high consumer anxiety, and wage stagnation is going to be looked on as one of the worst moves a president has made.
He is, without a doubt, the worst and second worst president in the country's entire history.
Trump: "Ah, but you have heard of me!"
FAKE NEWS TDS, TRUMP IS OUR LAWD N SAVIOR, HE HAS RISEN AND REPLACED JESUS CHRIST. /s
You will own nothing, live in the company town, owe your soul to the company store, and be grateful.
More of a slow collapse than a crash. Ever seen a dilapidated house on a country road, parts of the roof caving in, paint chipped, vines covering the yard? We’re working on being that house by slowly letting social and physical infrastructure in the US collapse over time.
The US could poke along forever, North Korea style because our entire country is full of cowards who will just take oppression without any fight.
...the climate, tho. 😬
What you're describing is basically stagflation. It doesn't necessarily mean a crash. It's possible for the majority of people to keep on earning less and less real income for a long time without a crash.
I do wonder what the effect of all the layoffs from tech and the public sector and all the cuts in federal funding will do though. Dunno if that's enough to flood the housing market and crash it or not. I think I've read that banks are in a good position to absorb housing market losses, so it won't be like 2008.
AFAIK, most current economic indicators are OK. Not necessarily great, but not dire either.
The stock market makes no sense to me. It doesn't appear most stocks move on the fundamentals of the companies or anything like that. It all appears to be driven by hype/gambling, and propped up from sustained lows by 401ks on auto-pilot and people trained to "buy the dip" by the quick Covid recovery.
The USD appears to be rapidly losing a lot of value compared to other currencies like the EUR. But, that fits well into the plan to reduce imports and boost US exports. Inflation with stagnant wages makes US exports more attractive/cheaper.
It's in the making since 1971
I remember during the big housing bubble in the early 2000s people were telling me "Oh you better buy now" even though down payments were insanely high and I kept thinking "The cost of housing is totally out of whack with incomes. There is no way this can keep going up." Surprise, surprise the whole thing blew up and lots of people were then left with mortgages that cost more than their homes so they were stuck. On top of that the prices were still out of whack with incomes and I still couldn't afford a house unless it was a wreck. I eventually just moved out of the state.
I was just reading how the normal "escape cities", like Miami, for people fleeing high cost areas like San Francisco and Boston/NYC are now almost as expensive. Guess people will have to go to St Louis and Des Moines.
You just need a union job. I just started mine and my first day I find out we're getting a new contract with $1/hr raises yearly for the next five years, a new boot benefit of $250 a year, better per diem on travel, and better compensation while traveling.
Republicans are really determined to make life as awful as possible, and the democrats in power are fine with it.
Republicans will buy stock in airlines then sink the Titanic, but first make sure their donors' rooms are located right next to the life boats. Democrats will make arrangements so that the band plays your favorite song while it sinks.
A crash? I'd say we're in a plane from which the pilot decided to press the "eject wings" button.
Why do we even have that lever?
In decades past, employees would get both a cost of living raise and performance raise, but the cost of living raise has all but gone away. One way to fix this is to tie the minimum wage to inflation. It'll have tje side benefit of making companies try to reduce inflation rather profiteering.
The crab said: You just haven't seen your steamer yet. The crab is a low-level animal, and its nervous system is so simple that when it is slowly steamed in the steamer, it will keep stuffing the ginger slices next to it into its mouth. It just feels uncomfortable, and it thinks that eating something will make it better. I don't know if you can understand the meaning of this paragraph. To sum up, we are already in the steamer. We thought that if we find a good job and work hard, everything will be fine, but the fact is that wages are not rising, prices are rising rapidly, and the world is rotten.
the world is rotten
The chef is rotten. The world is beautiful. You just can't see it from inside the steamer.
Depends what you mean by crash. Before, we have crashed through small bushes and banana stands. Big showy and doing minor damage. We are about to run into that tiny little tree that the devs never made animations for.
We are not prepared for the devastation that tree will cause.
Neoliberalism is reaching its natural conclusion, coupled with the gradual fall of colonialism, is going to lead to a permanent crash for the working class.
While Trump is being loud, the project to divide the US working class by ethnicity has been ongoing always, and began ramping up this century.
It will be required as all production is centralised within a handful of families. And the global south can no longer be relied on for cheap resources and manufacturing for middle class treats.
The US doesn't have a union presence, nor does it have understanding of left politics. Conditions will get worse and worse every decade.
This is so absolutely adorable.
I live in country that has plateaued financially for the last 2 decades.
You'll be fine. Really. In opposite to what you might have heard, free market capitalism in no way requires constant growth. It can adapt to plateaus or degrowth just fine.
America doesn't do free market capitalism it does late stage capitalism, where profits do in fact need to be record high every quarter, even if that means people are gonna die (like 10m people becoming uninsured, plus us borrowing a bunch of money from China, so we can give more to the billionaires that own us and don't need it).
Which country would this be?
Worse, you will get used to it.
More of a sticky slide into a chaos. From it our pain and suffering will fuel new metrics for new economic models with new crash indicators. Indicators that when applied to today would appear as an ominous array of flashing red lights.