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Are you better off than four years ago? Why US voters should – but can’t – say yes
(www.theguardian.com)
this post was submitted on 18 Oct 2024
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Economy
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I don't understand how politicians think/recognize Americans are stupid yet don't try and educate them literally ever.
Biden and Harris should be explaining why our economic system benefits from having inflation always be positive. I mean, I get (not literally, only because others say so) that negative inflation isn't what we want, and that it's likely a bad thing. I can't even imagine how the average American looks at those numbers or what they think when they inflation is up or back to what it used to be. I just barely kinda get it and I'm still fuckin pissed
also see: home prices, wages, and layoffs
Americans by and large don't want to learn.
If my pay rate doesn't automatically increase to match inflation, then any inflation is bad from the consumer perspective. It may be good and reflection of a growing economy, but if that doesn't reach the individual...
My costs have gone up 30% in the last 4 years, just to run my household. I've seen some things double in cost, a number of things are up 50%, while most are up high single digit to double digit percentages (quite a bit through shrinkflation, because I track that too).
I've tracked all my costs for years (mobile apps are great), so can tell what I paid for almost anything 5 years ago.
Tell me again inflation "isn't that bad".
That's the thing, economists will say that modest inflation is fine, necessary even, but it's only "fine" for people whose income increases every year at a rate that is at least equal to the rate of inflation. Anyone who doesn't get a raise that at least keeps up with inflation is actually getting a pay cut. Many people do get at least a cost of living raise every year, but many people don't, and those people get poorer every year.
But even people who are lucky enough to have an income that keeps up with inflation are just staying in place financially. They're not getting any poorer, but they're not getting any richer either. Working your ass off in a job that slowly kills your soul, just to run in place, doesn't make people feel great about things.