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Turns out that recent economic history shows that there's direct correlation between the number of articles promising a soft landing and a severe economic downturn. (lemmygrad.ml)

submitted 7 months ago* (last edited 7 months ago) by yogthos@lemmygrad.ml to c/us_news@lemmygrad.ml

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source https://www.bloomberg.com/news/newsletters/2023-10-02/global-economy-latest-bloomberg-economics-expects-a-recession

archived https://archive.ph/uVMEE

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[–] ComradePupIvy@lemmygrad.ml 44 points 7 months ago (2 children)

I mean its bold to say we are not currently in a recession at the moment

[–] yogthos@lemmygrad.ml 40 points 7 months ago (1 children)

I suspect the fact that the media keeps trying to pretend that a recession isn't happening is driving a lot of public anger right now. People can see that their pay doesn't go as far as it used to, but the media is like whom are you gonna believe me or your lying eyes.

[–] ComradePupIvy@lemmygrad.ml 23 points 7 months ago (1 children)

I genuinely cannot tell if this is genius on the side of the media, or Hubris on the side of the media?

[–] FuckyWucky@hexbear.net 30 points 7 months ago* (last edited 7 months ago)

they don't want to scare the markets. if they all say the economy is doing bad, the markets will react negatively which is bad for stonks.

it doesnt even have to be a human reading it and going 'shit i should sell'. there are bots which scrape business news sites and do sentiment analysis to check if a news is positive or negative.

[–] Beat_da_Rich@lemmygrad.ml 15 points 7 months ago* (last edited 7 months ago) (1 children)

Americans on average are poorer than they were during the Great Depression. The only reason this awful economy is not considered a depression is because of capitalist propaganda. It's all just being held up by "vibes."

[–] ComradePupIvy@lemmygrad.ml 13 points 7 months ago

I mean wealth disparity is worse than right before the french revolution, and working conditions are also worse,

I guess what I am saying is the heads of the rich should roll, and their blood should water the feilds