The Stock Market Is Not The Economy Thread II

[kuronosan]

No, you need to learn what real wages means.

[Mayareira]

Growing the wages of lowest percentile has its downsides as well. First, after a brief welfare period it comes back to haunt as inflation.

Also it almost always causes middle class wages to erode.

The healthy way is to keep lowest percentile reasonable while instead of increasing its purchasing power beyond the level it should, allow people in it to move into the upper one. Make the lowest percentile the real starting salary, a stepping stone on the way to better wages and career.

[Salodin]

The chart clearly says the bottom 10% of earners are making more real wages than prepandemic, but that still leaves 90% of earners making the same or less after adjustments.

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[Andalusian girls]

sometimes the single brain cell bg shares just can't fire fast enough

[kuronosan]

The chart clearly says the bottom 10% of earners are making more real wages than prepandemic, but that still leaves 90% of earners making the same or less after adjustments.

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90th percentile wages means 90% of the people earn that or less, or the top 10% of earners.

The graph shows that on average 50% of folks saw no real change and then the bottom 10% of earners saw about a 6% swing.

The question is not whether adjusting for inflation made a difference in the wages (which is what adjusting for real wages means) it's whether it makes a practical difference in real life circumstance.

[Salodin]

90th percentile wages means 90% of the people earn that or less, or the top 10% of earners.

The graph shows that on average 50% of folks saw no real change and then the bottom 10% of earners saw about a 6% swing.

The question is not whether adjusting for inflation made a difference in the wages (which is what adjusting for real wages means) it's whether it makes a practical difference in real life circumstance.

My guy did you just unconcise my post? Also the chart is for real wages afaik, so it would take into account whatever "real life circumstances" means which just sounds like fancy talk for "I want to weigh this data less than data I'm not providing because it confirms my biases"

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[kuronosan]

I did, only because I'm trying to illustrate what my point was. It's not just that the graph is convoluted, it minimizes the practical experience of most people.

It's the same shit people do when saying increasing access to medical care means more people are getting it because the numbers show more people are insured now than ever.

More people have cars, that must mean they're driving them!

Suffice to say I would like to see data that correlates this with poverty in America, not just "real wages". I don't care about how much people are making. Are they now above the poverty line compared to where they were before? Are they paying off debts, affording housing?

[Salodin]

I think you need to make an actual statement that can be tested, cause the reality is the lowest earners in the country had a bump in purchasing power when compare to the top 90% following the pandemic, we do in fact drive more cars/more cars are on the road than a generation ago, and we are producing more medical care than a generation ago

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[kuronosan]

Production. Does. Not. Mean. Demand. Or. Use. Every. Time.

[Salodin]

If you want to redistribute what we are producing I'm all for that, you don't have to convince me, but so far y'all have been writing a lot about yo feelings and not that I disagree, well I do, but we gotta be honest about the situations and problems if we want to address them properly

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[Salodin]

idk what's so controversial about the chart. Nothing about what y'all say and what the chart says is inherently opposed to each other. Prices suck ATM, purchasing power sucks ATM, but the poorest have received less post pandemic suck compared to the rest not that it matters cause the poor are starting from so far behind anyways.

Life is pain, then you die. Hopefully you pained a little less than your parents, had at least 2.1 kids, maybe slayed some gilfs idk do you bae

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[Spicyryan]

I'm glad I missed the inevitable path of Archibald narrative.

If only these workers just owned property to rent out. Then we wouldn't need to pretend they are doing better. They are not, and to point at long suppressed wages growing only to be ultimately in the same position they started off in. That doesn't spell some rosey picture. Especially with further evaluation beyond real wages. It's easy to point to and show it's represents a problem. If we want to play games and say it's "better" now for those outside of the median. Then it's only going to rain on the parade when everything else is taken into consideration.

[archibaldcrane]

sometimes the single brain cell bg shares just can't fire fast enough

Man fr

[archibaldcrane]

https://twitter.com/business/status/...eE2qMisDg&s=19

[Milkster]

https://twitter.com/tilbots/status/1...9Wps1Hl11Rk-Sw

Walmart is trash and capitalism is working as intended.

[Spicyryan]

https://twitter.com/tilbots/status/1...9Wps1Hl11Rk-Sw

Walmart is trash and capitalism is working as intended.

Should we abolish private property?

[Melena]

https://twitter.com/tilbots/status/1...9Wps1Hl11Rk-Sw

Walmart is trash and capitalism is working as intended.

You know that was 13 years ago right? Not excusing it now, but kind of old news.

[Mrbeansman]

You know that was 13 years ago right? Not excusing it now, but kind of old news.

Ksandra dug up a 10 year old lawsuit for a "gotcha" agaisnt me its pretty par for the course.

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[NynJa]

Except you were being a hypocrite saying anyone who buys the HP game is a transphobic bigot when a game you majorly stan had its own issues of sexual assault behind its doors, and continued to stan it after the fact.

This is Milkster just being a fucking moron trying to spark outrage as usual.

[Spicyryan]

You know that was 13 years ago right? Not excusing it now, but kind of old news.

It is a fair thing to be upset about. The exploitation of people to the point their death is a matter of profit and a reason to employ them. It isn't like anything really changed in that time. Halting the process in question is like throwing a rock in a river.

It represents one of many basic contradictions in a society wishing to call itself free.