The Stock Market Is Not The Economy Thread II

[Yabby]

Even though a significant portion of individuals receive pay raises surpassing inflation rates, the disparity between these factors might not register prominently for most. When the impact isn't substantially discernible, the primary perception becomes one of escalating costs across the board, fostering a sense that things are deteriorating.

[Kaslo]

Also the perceived pain of paying more for groceries is higher than the perceived benefit of a small pay raise.

[Andalusian girls]

vibe is off

[Salodin]

I don't disagree; they certainly perceive something alright.

Too bad they frequently miss the forest for the trees and pursue policies that are against their benefit. You could tell them under Biden, the country has produced more oil than at any other point in history, but because prices are higher they won't believe you.

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[Athas]

Surely the fracking boom in '15 was still - huh I guess not.

We due for some negative oil futures again? That'd be fun.

[arus2001]

Also the perceived pain of paying more for groceries is higher than the perceived benefit of a small pay raise.

Like, even if we take that chart at face value and some folks got a 7% raise, paying 30% more at the store despite coupon clipping, deal hunting, and taking generic brands hurts. Gas at $3.50+ a gallon also stings when you're spending $10-15 just to round trip to work daily.

[Mertron]

i was told that facts did not care about my feelings

[Salodin]

Like, even if we take that chart at face value and some folks got a 7% raise, paying 30% more at the store despite coupon clipping, deal hunting, and taking generic brands hurts. Gas at $3.50+ a gallon also stings when you're spending $10-15 just to round trip to work daily.

It's easy to live in a fantasy world when you make up fantasy numbers to make your point. You could go look these things up yourself and see that, while prices are higher overall thanks to inflation, at the end of the day people are still better off because wages are overall higher.

But don't let facts get in the way of your feelings, or in the way of unfortunate events in your life that make you think things are worse off than they really are

I def pay more for things now than I did 5 years ago. I also make more now than I did 5 years ago. Make it make sense.

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[archibaldcrane]

vibe is off

When treat procurers are scarce, Americans get angry

[kuronosan]

God damn it do we really still suck at charts

[Koyangi]

Yes.

[thetruepandagod]

biased charts.

[Day]

yeah the vibe is way off when you doing algebra in the produce section to see if you can afford that watermelon or not

[Day]

You could tell them under Biden, the country has produced more oil than at any other point in history, but because prices are higher they won't believe you.

is that good

[Salodin]

It clearly is good that the USA is producing more energy than it was before.

It's also really weird how energy companies are making record profits. Maybe we should socialize them if record oil production doesn't lead to appreciable reduction in consumer costs.

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[Day]

oh i thought oil and all it's consequences were bad, but i been away for a bit

[Jaybar]

Oil industry also makes some life-changing byproducts like plastics. I don't see oil going away because we invested in solar and wind.

[Salodin]

oh i thought oil and all it's consequences were bad, but i been away for a bit

You been away, and you don't pay attention. A deadly combination tbh

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[Spicyryan]

I don't disagree; they certainly perceive something alright.

Too bad they frequently miss the forest for the trees and pursue policies that are against their benefit. You could tell them under Biden, the country has produced more oil than at any other point in history, but because prices are higher they won't believe you.

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Archi has this thing where he wants to build a narrative where wage growth and unemployment just tell the story. As an investor, petite landlord, and one of the faithful of the flock he gets excited to think it's all good gravy. Rather than the reality for the average person.

House affordability is at an all time low and he lives in a world where "just build more so the market provides for itself and get the red tape out of the way" makes perfect sense to him. Rather than the fact that there isn't a supply problem, but an ownership problem and upwards concentration. An era of bottom barrel rates helped fuel massive speculation and property acquisition by those of greater means. Short term vacation properties, rentals, etc have been bought up for years. Driving up rent, property values, and creating a massive bubble in short term vacation rentals. Outside of completely fucking stupid ass places like San Francisco or other specific problem spots. There are plenty of houses, a record ratio of supply to population 2.2% higher now than in 2000 (FRED)

So some of us can be dumb and mock the idea of capitalism not being intended to meet the needs of people like there is no alternative course. Despite it being the structure that supports and exacerbates the same issues they think a vote and some reform can solve. From rampant commodification to climate crisis and the perpetual concentration of wealth and power upwards. Otherwise we could stop thinking too highly of our surroundings and nonsense like the American dream and say "hey this isn't going to work out for many." Nonetheless, with how much Archi posts charts and snippets, he really wants to convince himself.

[archibaldcrane]

There are plenty of houses, a record ratio of supply to population... (FRED)

https://fred.stlouisfed.org/graph/?g=j9kH

?