The Stock Market Is Not The Economy Thread II

[Andalusian girls]

The "elites" (relatively speaking) of BG: Archi, Demo, and Zet care. The rest of us plebs, not so much.

wow ok panda and i aren't undeserving heirs to generational wealth just to suffer this neglect

[Byrthnoth]

My purchasing habits have become so irregular over the last few years that I can't even track the price increase. Did it go up because of inflation, or because I bought like a month of drygoods at Costco?

[NynJa]

Didnt we have a talk about the economy and the cost of goods and services, which included raising minimum wage?

I guess we will find out remind me in 6 years

Oh hey, we did. Guess how that convo went, and how it looks 3 years in the future.

[zoobernut]

My purchasing habits have become so irregular over the last few years that I can't even track the price increase. Did it go up because of inflation, or because I bought like a month of drygoods at Costco?

My family has a couple of really good consistent ways of tracking price increases. We have livestock and can track the price of bags of feed and hay, and we also shop consistently at costco and can track what each trip costs. Bags of feed and bales of hay which are affected by fires and drought as well as inflation have steadily gone up in the last couple of years. We had been getting bales of grass hay and oat hay at around $10-15/bale three years ago and now they are at $20-30/bale. Bags of feed were also $12 each are now $24 each.

Our regular costco trips for a family of five used to run about $300-400 per trip twice a month. Now they are consistently $500-600 per trip for roughly the same stuff.

Not scientific and definitely anecdotal for sure.

[archibaldcrane]

Wages haven't kept up

Median real wages are higher today than pre-pandemic, and lower income workers have seen even stronger real gains than the median.

[Gredival]

Didn't we literally have this "Your perceptions and feelings of paying more don't match the actual data on price increases" discussion last month?

[Salodin]

You said "Economy great yay, inflation down." I said "when will it affect prices of goods and services" you said "it shouldn't and won't otherwise we fucked" I said "then who cares about those metrics if they don't help 99% of people in this country".

What are you talking about?

Prices can and should go back down. I am not talking return to early 1900's pricing but fluctuating prices were the reality and prices should come back down. They have risen rapidly in the last 3-4 years and if they come back down by a certain percentage of what they went up then it won't cause disaster but it would be a measurable help to most people. The issue is that everyone is behind. Wages haven't kept up and in the years it will take to catch up if prices stay the same some other disaster will cause prices to go up more so the majority of people are constantly behind constantly chasing that break even point where they are increasing their disposable income and spending power rather than just trying to break even against inflation.

Are you aware of how bad rampant deflation is to the economy? Do you care about the facts of the economy at all, or do you just hate the trajectory of your finances and life, and want someone to make it better for you?

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[Spicyryan]

Just need arus2001 and Spicyryan to round out this discourse.

"I'm an investor and I needed to see confirmation!"

[kuronosan]

I'm not even getting into this shit again.

Numbers don't lie. Just ask Bernie Madoff.

[arus2001]

How soon does that translate into lower prices/cost of living for regular people cause shits still uber expensive.

Seems like half the people here will just happily tell you my owm life experience is fiction, but welcome to the club of seeing shit's fucked and how all this "good news" doesn't help people struggling because "prices go down" isn't a feature of our prestigious "free" market.

[Salodin]

https://twitter.com/fuckyouiquit/sta...LU9HGXQKw&s=19

Hmm

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[archibaldcrane]

Imagine tweeting that when core PCE is below 2% annualized

[Kaslo]

https://twitter.com/byHeatherLong/st...762938522?s=20

[archibaldcrane]

Don't forget that July and August were revised up by 119k jobs too.

[Meresgi]

Reminds me of where I grew up in Upstate NY. $14-17k median income. Houses still somehow costing $150-200k though because of people from NYC snatching them up to rent out and slumlord it up. Had a landlord who had a known gas leak they never told us about when we moved in. They had removed the tag for the gas leak and when the gas company came over to check they got preeeettttty upset lol.

[archibaldcrane]

may need to start looking at khrushchevkas if the municipals keep defying Sacramento

Newsom's pen hand is getting crampy from all the housing bills he just signed.

https://twitter.com/maxdubler/status...Oc2URuEUg&s=19

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[Jaybar]

Oh this is good.

[archibaldcrane]

https://twitter.com/omzidar/status/1...0HDyvxLhg&s=19

https://twitter.com/SteveRattner/sta...taWu9pTxg&s=19

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[kuronosan]

Hahahahaha

[archibaldcrane]

The wild thing about this SCF (Survey of Consumer Finances) dataset is that it's only once every 3 years, and since it fell on the years 2019 and 2022 it's so wild that you'd have no idea what happened to the global economy in 2020 or 2021 just looking at these figures because of how strong the recovery was.