Despite months of increasingly positive economic indicators, the American public remains negative about the state of the nation’s economy, with 51% saying they think the economy is still in a downturn and getting worse, according to a new CNN poll.
When toxic “econimistism” comes home to roost. A “strong economy” as measured by stock markets and company profits, both owned primarily by the extremely wealthy is not the same as “working class people are doing well economically”, which is what should be meant by “a strong economy” if it were not for the neoliberal brain rot.
Honestly. There needs to be (probably is and I’m unaware) an index that measures the Average Joe ™️ economy health. So not just like the big Mac index, but a measure of how have the average Americans in the lower to middle class have gained increased take-home pay, reduced debt, asset valuation appreciation, and more indicators that actually increase their day to day life and financial situation.
That is literally the deal in Boston, MA. Where the going rate for a 1 bedroom apartment is in the ballpark of $2500 USD/month. Exactly half of my take-home income.
When toxic “econimistism” comes home to roost. A “strong economy” as measured by stock markets and company profits, both owned primarily by the extremely wealthy is not the same as “working class people are doing well economically”, which is what should be meant by “a strong economy” if it were not for the neoliberal brain rot.
Honestly. There needs to be (probably is and I’m unaware) an index that measures the Average Joe ™️ economy health. So not just like the big Mac index, but a measure of how have the average Americans in the lower to middle class have gained increased take-home pay, reduced debt, asset valuation appreciation, and more indicators that actually increase their day to day life and financial situation.
There’s a FRED series called real disposable income: https://fred.stlouisfed.org/series/A229RX0
Which is after-tax personal income adjusted for inflation.
Yeah I got a 20% raise and my rent is going up 24%. Any progress I make is immediately thwarted.
If I stay here I’ll be paying half my take home income on rent for a 1BR
That is literally the deal in Boston, MA. Where the going rate for a 1 bedroom apartment is in the ballpark of $2500 USD/month. Exactly half of my take-home income.
Oh, that’s without factoring in utilities.
Pretty sure it’s measured by gdp