The Stock Market Is Not The Economy Thread II

[NynJa]

Bezos must really be struggling.

[Spicyryan]

Bezos must really be struggling.

Not struggling enough.

[Richybear]

Not gonna dip into his penis rocket fund to pay employees, that would be insane.

[NynJa]

"What do you mean I can only go to outerspace 11 times this year instead of 12?? Unacceptable, fire more people and make sure that those who are blessed to still have a job work through their unpaid breaks"

[6souls]

More gaming media layoffs

https://twitter.com/ethangach/status...116714518?s=20

[6souls]

And Twitch

https://twitter.com/Kotaku/status/16...415291907?s=20

[6souls]

https://twitter.com/jamieson/status/...410825225?s=20

[zoobernut]

https://twitter.com/jamieson/status/...410825225?s=20

BuT nO oNe wANtS tO wOrK!

[arus2001]

Always had to shake my head at digital job ads where you basically see the same 10 posted weekly for months and months in history where you know they're just doing that shit. Usual scam risk aside, it's just like, "Bitch you're looking for someone to deliver flowers, not perform brain surgery."

[Spicyryan]

https://twitter.com/jessefelder/stat...0iFb5htpA&s=19

[Mayareira]

https://twitter.com/jamieson/status/...410825225?s=20

And most of the time said postings require you to fill some 10 page form, write a "non cliche" cover letter and attach your up-to-date resume. Usually a serious application takes hours to complete.

[archibaldcrane]

This is pretty incredible, another way of demonstrating how the lower wage workers have been "catching up", compressing inequality over the past few years.

https://twitter.com/byHeatherLong/st...HQDZCxo-A&s=19

[Spicyryan]

This is pretty incredible, another way of demonstrating how the lower wage workers have been "catching up", compressing inequality over the past few years.

https://twitter.com/byHeatherLong/st...HQDZCxo-A&s=19

Except they aren't catching up, lol. Inflation has wiped out all the gains. That's before accounting for interest rate hikes too.

[archibaldcrane]

Except they aren't catching up, lol. Inflation has wiped out all the gains. That's before accounting for interest rate hikes too.

Low income workers' real (adjusted for inflation) wages have held up nicely and are well above their pre-pandemic levels. It's middle and high wages that have been eroded.

[kuronosan]

Um the way I read that is that people are no better off but BG can't chart so

[archibaldcrane]

...

[archibaldcrane]

https://twitter.com/arindube/status/1640129791595622409

[kuronosan]

So the 10th percentile of earners now earns more compared to pre-covid relative to 90th percentile earners this is just comparing raw numbers. It doesn't speak anything to wealth.

So Gary gets paid $20 instead of $12. What's his tax rate? What does he take home? How high are his bills now compared to before?

[archibaldcrane]

goddamnit, please learn what real wages means before posting in the economy thread

[NynJa]

Giving everyone a 10-20% raise doesnt mean shit because those who have to pony up for that raise are gonna pass that buck back to the consumers. Purchasing power goes down. The effects arent immediate, but they'll come. Canada is seeing it right now, grocery owners are getting raked through the coals because they've jacked up prices immensely. This is blowback from the huge raises to minimum wage that were given out a couple years back, as well as from covid.