U.S. stock futures plunge ahead of Monday open as Trump tariffs shock continues
Global stocks and U.S. futures plunge as Trump tariffs reverberate across the world
i want to make it abundantly clear. rebublicans are horrible terrible no good very bad fascists. but one of the goals of the left needed to be convincing the democrats that being republicans circa 2006 wasn't doing any of us any favors. the inflation of the post covid lockdowns era was similar in nature to the economic recovery of the post recession era: it wasn't reaching everyone everywhere. that's what bernie sanders was talking about when he said a democratic party that turned its back on the working class had the working class turn its back on them.
it's not whining to say that neoliberal economic policies don't benefit everyone everywhere equally. biden obsessed with traditional economic indicators, meanwhile people's paychecks were not keeping pace with the increasing cost of living that was resulting from unchecked systemic greed. the minimum wage needed to go up. the healthcare system needed to be adjusted again. overall the desperately poor needed to be given assistance to not be desperately poor.
i would argue this desperation, and the democrats refusal to listen to that they needed to apply consequences to fascism and engage more with economic populism was what handed trump the election. telling people who are desperate to shut the fuck up, everything is going great, actually, is incredibly tone deaf. and to reiterate: the MAGAts are embarrassingly unaware of who and what they just voted for and that things are getting worse now because in the race between bad and worse they chose worse. being desperate is no excuse for voting for trump. but the democrats also have no excuse for doing so little to provide for the little guys. Kamala started out strong promising people housing assistance, but stopped emphasizing that down the stretch as she courted corporate donor money.
People's paychecks in fact did keep pace with inflation
Except for the part where not really. CPI kept going up until it outpaced CoL adjustments. Not to mention for minimum wage earners, their paychecks have been stuck at $7.25 since 2009. From 2020 to 2022, the united states dropped 5 spots in Human Development index, and when you adjust for income inequality are doing even worse. 64% of US adults are delaying medical care because they can't afford their next treatment because of pre-existing medical debt.
This system of focusing entirely on traditional economic indicators and ignoring the growing chasm between the impoverished in this country, the vanishing middle class, and the wealthy is weird. It's not normal. It's not okay.
Your link shows pay outpacing inflation
it also shows consumer purchasing power, the metric that matters when you're buying things, falling. inflation tells us that our currency is just as valuable as ever when compared to other currencies, but CPI tells us that our ability to live on that currency is reduced. which is what i'm trying to say and talk about. the fact that inflation has been stable, but consumer purchasing power is reduced speaks to massive amounts of petty greed coursing through the system. the problem from here is that 47 is a greedy fucking bastard and so are all his cronies. the theft machine is getting way more intense right now, but that doesn't change the fact that for most americans, they didn't get to see the benefits of the pandemic recovery, but 47 and his buddies certainly did. they then used that financial power to by tv coverage and ads that would ensure a greater likelihood of taking over and intensifying the greed machine. i appreciate what you're ultimately saying, that 47 is worse for people than the alternative, but if we're going to ever have our country back from the greedy wolves, we need to convince our fellow sheep that a wolf shouldn't be in charge, and to do that we need to understand how they got tricked by the wolves
That's not what inflation means, inflation is compared to goods, not other currencies
Purchasing power improved during Biden
