Sharp and sustained economic criticism from Biden's ostensible allies established a narrative of failure that has proved alarmingly resistant to reality.
I actually like Biden and still plan on voting for him, but I’m not sure I can say the economy is “good” right now, definitely not good for regular people. Just because the stock market is picking up doesn’t mean shit if rent just went up 10% or food is expensive as hell everywhere you go. People are getting priced out of making a living and this shit can’t go on for much longer.
The article actually goes into some pretty extensive statistics showing that wages for poor people are growing faster than inflation.
It may not be obvious to a lot of Lemmy users, because wages for top earners (esp in the tech sector) are actually dropping slightly. But there’s significant growth at the low end and that’s super unusual (especially during post-Covid supply chain and business-greed inflation like we’re experiencing now). It doesn’t say a word about the stock market that I remember.
I actually like Biden and still plan on voting for him, but I’m not sure I can say the economy is “good” right now, definitely not good for regular people. Just because the stock market is picking up doesn’t mean shit if rent just went up 10% or food is expensive as hell everywhere you go. People are getting priced out of making a living and this shit can’t go on for much longer.
The article actually goes into some pretty extensive statistics showing that wages for poor people are growing faster than inflation.
It may not be obvious to a lot of Lemmy users, because wages for top earners (esp in the tech sector) are actually dropping slightly. But there’s significant growth at the low end and that’s super unusual (especially during post-Covid supply chain and business-greed inflation like we’re experiencing now). It doesn’t say a word about the stock market that I remember.