this post was submitted on 08 Dec 2023
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chapotraphouse

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[–] [email protected] 26 points 2 years ago

labor productivity rose at an annual rate of 5.2 percent, which is really, really fast

Oh, and unit labor costs are up only 1.6 percent over the past year

he-admit-it

Now what's wrong with all these laborers who aren't excited about Bidenomics keeping labor costs down despite rapid increases to productivity?

[–] [email protected] 20 points 2 years ago (1 children)

How many more articles, op-eds, tv news reports, podcasts, etc do we need? Bidenomics is a fucking loser. Read the fucking room.

[–] [email protected] 16 points 2 years ago

As many as it takes to convince you that you're fine

Now go outside and put $500,000 on credit cards

[–] [email protected] 12 points 2 years ago (1 children)

Who are you going to believe, your lying eyes or my once-in-a-generation high-yield US Treasury bonds?

[–] [email protected] 8 points 2 years ago

That’s what this “Bidenomics” insistence is, isn’t it? People who either own their home outright or got a mortgage when rates were like 3.25%, have enough liquid sitting around to sink into these 1990’s revival interest rates on bonds and CDs and think that means the economy is roaring.

[–] [email protected] 10 points 2 years ago (1 children)

The paycheck-to-paycheck number seems suspiciously low to me. Did they redefine some terms to bring the number down?

Like, it was significantly higher in the past when things were cheaper, so I'm confused how they got such a low number.

From 2017, same outlet even: https://www.cnbc.com/2017/08/24/most-americans-live-paycheck-to-paycheck.html

[–] [email protected] 5 points 2 years ago

I think that was still residual effects from the Great Recession, people whose salary took a major hit, were able to save less on the same lifestyle, probably took on more CC debt. In other words, the wages part of the equation was down more than prices.

[–] [email protected] 9 points 2 years ago

Pulling our Paul Krugman at this point is like the op ed equivalent of lowering recruitment standards to include people who need glasses during a war

[–] [email protected] 9 points 2 years ago (1 children)

If you need to tell everyone about all the good things you've done, you haven't done anything good.

[–] [email protected] 10 points 2 years ago

Are you saying that all those dudes who keep calling themselves "alpha males" on the internet are actually massive dweebs?

[–] [email protected] 8 points 2 years ago

The Freakanomic Counterintuition Complex strikes again

[–] [email protected] 8 points 2 years ago

4% absolute value is absurdly nuts in 9 months given there hasn't been any significant macroeconomic changes wtf...