Half of Americans believe this because they are wholly and completely economically illiterate.
1098duc_w_the_termi on
Most people don’t understand the broader implications of some of the recent detrimental policy decisions and how long they may take to fully work their way through the economy. What they do understand though, is that the job market feels less certain now than in recent history. They’re being told that they will be replaced with AI asap and become unemployed in low fire, low hire job market. They don’t care about the broader economy when they’re on the brink of financial ruin. That’s what they mean when they fear total economic collapse.
CyberSmith31337 on
It’s that whole K-shaped rhetoric we keep hearing about.
Economic polarization in America is a real thing. I live in a slightly rural area; the people who are born/raised/never left are typically making around 45-57k a year. But the transplants who moved here are making 80-105k a year.
About 3/4 of the people I know are suffering and struggling right now. They work primarily as “essential workers” (teachers, janitors, hospital workers) But the other 1/4? They are living like kings; most of them got raises, bonuses, and are living the high life. They work primarily in tech and finance.
No matter how much I talk to both sides, the 1/4 simply refuse to acknowledge life isn’t great because they live that.
Happy_Feet333 on
This is an ad for financial services. It’s not really an article, per se.
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a_little_hazel_nuts on
The last time tariffs were raised this much can be linked to the great depression and caused harm. That’s just how it is. Causing prices to rise this fast with wealth inequality being at its worst point in American History will cause financial pain to alot of people. The federal minimum wage is $7.25/hour and it’s that way because corporations paid politicians to keep it that low so they can pay starvation wages.
mlhender on
We are about 3 1/2 years out now from the total and complete collapse of the US economy. It’s not a secret, all the reasons are out there and easily understood. Nothing new here.
6 Comments
About half of all college students earn a grade of a D, F, or W in ECON. https://www.insidehighered.com/sites/default/files/files/Analytics%20and%20Gateway%20Courses%20PPt.pdf
And these are the more educated ones.
Half of Americans believe this because they are wholly and completely economically illiterate.
Most people don’t understand the broader implications of some of the recent detrimental policy decisions and how long they may take to fully work their way through the economy. What they do understand though, is that the job market feels less certain now than in recent history. They’re being told that they will be replaced with AI asap and become unemployed in low fire, low hire job market. They don’t care about the broader economy when they’re on the brink of financial ruin. That’s what they mean when they fear total economic collapse.
It’s that whole K-shaped rhetoric we keep hearing about.
Economic polarization in America is a real thing. I live in a slightly rural area; the people who are born/raised/never left are typically making around 45-57k a year. But the transplants who moved here are making 80-105k a year.
About 3/4 of the people I know are suffering and struggling right now. They work primarily as “essential workers” (teachers, janitors, hospital workers) But the other 1/4? They are living like kings; most of them got raises, bonuses, and are living the high life. They work primarily in tech and finance.
No matter how much I talk to both sides, the 1/4 simply refuse to acknowledge life isn’t great because they live that.
This is an ad for financial services. It’s not really an article, per se.
—
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat. Duis aute irure dolor in reprehenderit in voluptate velit esse cillum dolore eu fugiat nulla pariatur. Excepteur sint occaecat cupidatat non proident, sunt in culpa qui officia deserunt mollit anim id est laborum.
The last time tariffs were raised this much can be linked to the great depression and caused harm. That’s just how it is. Causing prices to rise this fast with wealth inequality being at its worst point in American History will cause financial pain to alot of people. The federal minimum wage is $7.25/hour and it’s that way because corporations paid politicians to keep it that low so they can pay starvation wages.
We are about 3 1/2 years out now from the total and complete collapse of the US economy. It’s not a secret, all the reasons are out there and easily understood. Nothing new here.
https://itreconomics.com/2030s-great-depression/