Shitpost - This economy is absolutely wrecked. Don't let anyone tell you it's not.
Posted by Goatmannequin@reddit | collapse | View on Reddit | 33 comments
AbbeyRoadMomma@reddit
I’m a boomer, and I completely agree—shit’s going down. Just look at the freakin’ data.
Patrick1441@reddit
The stock market is a measure of the financial health of companies, not a measure of the financial health of the people who companies sacrifice in the name of maximizing their quarterly results.
Texuk1@reddit
Except this isn’t always true especially when in a bubble like at the moment. It’s often just a reflection of hype among asset owners.
AbbeyRoadMomma@reddit
Thank you, that makes sense.
dinah-fire@reddit
They've also doing a lot to pump their stock prices by buying their own shares back.
AbbeyRoadMomma@reddit
Oh great.
AbbeyRoadMomma@reddit
So, as AI replaces workers, it remains to be seen how the stock market does—could stay high for a while until everything collapses…
Krashnachen@reddit
Quantitative easing.
Governments take on massive debt in order to keep the illusion of growth going. That money primarily goes to assets like stocks and real estate, raising prices.
It's not a coincidence that the stock market has exploded since Covid. It certainly doesn't reflect a corresponding increase in value to society.
The stock market isn't a great indicator of societal health. It's more the opposite. It's the rich getting richer.
AbbeyRoadMomma@reddit
Yeah ok.
Confident_Dark_1324@reddit
Mummy dad said the economy is doing great the other day?
japanesejoker@reddit
Lots of people think S&P 500 all time highs means the economy is doing great
Texuk1@reddit
Most of the bump on stocks is AI hype related industries, Nvidua makes up 17% of the composite. The “real” economy is masked.
itsatoe@reddit
It's like trickle-down economics... if the rich are getting richer, then everyone must be doing better right? :/
MediumHeat2883@reddit
It means that wealth inequality is out of whack. It means that the uber rich have so much money they don't know what to do with it so they invest in everything from stocks to crypto to housing and leave it there in spite of macroeconomic fluctuations in employment, inflation, etc. these whales have such big chunks across markets you won't see big dips even as the economy gets wrecked.
Sorry_End3401@reddit
Tell dad to look at all the retail subs here like Walmart and Sam’s. We mark up thousands and thousands of products everyday. Little by little so the plebs don’t notice shit went up over $20 on some products. Clothing tags are removed now since we mark them up too much and they are priced low when they come in.
Food is doing the drizzle up as well. Just had a coffee 10 piece pods they sold for 3.49. Apparently they are “marked down to $5-6 dollars now. 🤣🤣 What a scam
Confident_Dark_1324@reddit
I know. Inflation is crazy. And he says the other day when spending money: “it’s just money”. I’m like, no it’s utility to buy resources. And when you have more than enough i guess it doesn’t matter
Goatmannequin@reddit (OP)
Submission statement: Let's see, how is this collapse related? Well, it's spiking since 2020 as the economy and inflation have hit, not just the United States, but all over. What's spiking? Google search queries for "steal food". People are desperate, man. It's bad. Look at the job market. Go on one of those job subs. Look at how people are desperate. They're losing their house. They can't afford the rent. They can't find work. Nobody's hiring. No interviews. Every CEO they're going to go on AI and cut all their workers. It's nearing catastrophic levels if it's not there already. And if it's happening to you, it's catastrophic. But to your neighbor, it's just a data point.
So the older generation has a real problem understanding the gravity of what new grads are going through right now. And I'm not a spring chicken either. But I have enough experience to know that in 2008 when you could buy a double cheeseburger at McDonald's for a dollar and the difference between then and now, if you had a job, you were doing a lot better. And now if you lose your job, there's no food, there's no cheap green chili double cheeseburger. It's on man, they're charging a thousand bucks a month for rent at least At least For a cheap ass roach apartment. And then we got the masked police running around, arresting homeless people, arresting anybody. No warrant, just disappearing people. It's different. Don't let the boomers tell you it ain't.
Ok_Difference_7220@reddit
Is the concept here that people google "steal food" when they are planning to steal food?
mb_analog4ever@reddit
Let me start by saying I agree with your thoughts and sentiments. But I wish I could read similar mindsets and thoughts from people like yourself before and during the dot com bubble and ride of computers. I have a little optimism in me related to AI, but I also think it’s the world around AI that is the main issue. AI adoption to kill workers is a culture and ethical issue not a technology issue. AI doesn’t automatically kill the economy in other mirror universes where humans CARE. I guarantee that.
toastedzergling@reddit
Sure, in a fictional universe, I can totally imagine AI being used for benevolent purposes. But, with the system today that massively rewards and incentivizes an selfish few to exploit the public at large as much as possible, there is not reason to believe AI will be used to improve society as a whole.
ProgressOne6391@reddit
Yea people like to hope it'll be used to help us but it won't, instead it'll be used against as thats what brings in the most money
Savage0x@reddit
You're forgetting the part where corporations control AI and will do everything to maximize profits.
HeavenlyMusings@reddit
Yea, it's hit where we are...many said it would take longer to reach our area, if it did at all..no gainful employment available, safety nets being removed from people who acually need it.
Elderly/dds housing cuts forcing them to the shelters that are already full. I had a lady ask me if I had any advice as I was walking into the store in a pretty "well to do" town. We host a University. She was sitting there with what looked like all the things she owned/could carry at that time. I got her in touch with the women's shelter and called a couple churches for ideas on resources for her. I wish we lived in a world where I could trust her and that my son and I wouldn't be in danger I would have taken her in AND that's when I was working and had resources/income. Now it wouldn't be possible even if I was by myself. We're barely eating , I can't imagine what people are doing that aren't getting help, can't find work/gainful employment ....if the job doesn't pay enough for you to have shelter , but you can eat what's the point ? You have to pick now? It's tragic.
This wasn't in a "worse off" part of town, I am not a "well to do"... I am barley hanging on with the property taxes/mortgage on our home racking up now pretty badly since losing my job...threatening our house/any stability for my SON and 5 cats (rescues/strays). I consider us doing really well from what I'm seeing and hearing from others and am so grateful, but it doesn't indeed seem our ship is sinking too.
I couldn't afford the 5th cat really (showed up/sick kitten last year) but would never turn away, and planned to get him in good shape and adopt out/shelter/foster adopt.. this was when I was employed... I called the shelter just to see and they were full indefinitely until further notice.
Same with the shelter an hour away. So we kept him, his name is Icarus ..Lady down the street took in a pregnant mama and has now turned her garage into a shelter since the shelters are full.
She and her Sweet Husband are caring for 9 cats, they struggle to eat themselves after the cuts. I am still waiting on our food assistance to go back through as it was denied due to an error/lack of updated info on their side so I have to wait at the back of the line basically, even long wait now.
I know about our local food bank, we have went and will go when they're not closed because they too are getting cut. Things seem to be not good. ya. not good.
Pretty amazing that regular people like us who aren't doing too well will still do for others in immediate need.
When SHTF publicly,..as in everyone for themselves ,free for all survival total/collapse the cats will have a better chance than us ironically ( not all sadly) and that'll be that.
dasnoob@reddit
Me and my leftist friends find it particularly hilarious.
Two years ago if I posted something about the economy being in the shitter for regular people. The regular old Democrat/liberal internet hivemind would roast the SHIT out of me because "Joe Biden's EcONOmy iS stROng".
Now though it is ok to say because dumbfuck Trump is the President.
We really do deserve what we are getting don't we.
delusionalbillsfan@reddit
The fact that the economy has become so bimodal makes me wonder how sustainable it all is. Outside of COVID, which was a shutdown and not really a natural recession, we haven't been in recession since 2009. Can we avoid "recession" forever, as long as the upper middle class just keeps spending...even if it means there's a large percentage of people.massively struggling?
Krashnachen@reddit
Recession is already going on. Whether it will be accompanied by a market crash is a question, but it's not a condition for recession.
Quantitative easing allows us to keep showing growth numbers, but only at the cost of increased debt burden and inflation.
What's worse is that QE disproportionately benefits rich people, while inflation disproportionately affects poor people.
Logical-Race8871@reddit
As far as I understand the theories floating around, the idea is to turn off the economy and restart it with federally-assigned fuedal oligarchy - basically the new deal, but Nazi.
The crash is more or less intentional, and this is just the wealth harvest before the winter.
Mission-Notice7820@reddit
The recession never ended, it just got banned from being talked about in that way. We've been in runaway hyperinflation mode mostly because of our overpopulation problem, and the limits to growth.
The real, physical limits to us and this earth, are what cause us to say things like stagflation, etc. Once expansion can't happen as fast or at all, catabolic collapse begins. The system eats itself from the outside in.
VendettaKarma@reddit
They’re gaslighting the people to stop a bank run.
Zealousideal_Scene62@reddit
Well ackchyually so-and-so index said the U.S. economy grew 0.02% when the rest of the world only grew 0.019%, therefore you need to vote for my preferred major party candidate
talkyape@reddit
We got away with it because USD's status as world reserve currency. What are you gonna do, not buy oil?
With BRICS becoming more popular, a genuine threat to the dollar hegemony exists for the very first time. We ain't gonna be able to cook the books with impunity for much longer...especially with India, Canada, and...well, damn near everybody really...solidifying new trade arrangements as a reaction to our retarded tariffs.
talkyape@reddit
We got away with it because USD's status as world reserve currency. What are you gonna do, not buy oil?
But now with BRICS becoming more popular, a genuine threat to the dollar hegemony exists for the very first time. We ain't gonna be able to cook the books with impunity for much longer...especially with India, Canada, and...well, damn near everybody really...solidifying new trade arrangements as a reaction to our retarded tariffs.
StatementBot@reddit
The following submission statement was provided by /u/Goatmannequin:
Submission statement: Let's see, how is this collapse related? Well, it's spiking since 2020 as the economy and inflation have hit, not just the United States, but all over. What's spiking? Google search queries for "steal food". People are desperate, man. It's bad. Look at the job market. Go on one of those job subs. Look at how people are desperate. They're losing their house. They can't afford the rent. They can't find work. Nobody's hiring. No interviews. Every CEO says they're going to go on AI and cut all their workers. It's nearing catastrophic levels if it's not there already. And if it's happening to you, it's catastrophic. But to your neighbor, it's just a data point.
So the older generation has a real problem understanding the gravity of what new grads are going through right now. And I'm not a spring chicken either. But I have enough experience to know that in 2008 when you could buy a double cheeseburger at McDonald's for a dollar and the difference between then and now, if you had a job, you were doing a lot better. And now if you lose your job, there's no food, there's no cheap green chili double cheeseburger. It's on man, they're charging a thousand bucks a month for rent at least, for a cheap ass roach apartment. And then we got the masked police running around, arresting homeless people, arresting anybody. No warrant, just disappearing people. It's different. Don't let the boomers tell you it ain't.
Please reply to OP's comment here: https://old.reddit.com/r/collapse/comments/1n3efvx/shitpost_this_economy_is_absolutely_wrecked_dont/nbcvlw0/