this post was submitted on 23 May 2024
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The US economy is experiencing a "selective recession" where lower-income Americans are struggling due to rising costs and dwindling savings, while upper-income consumers remain unaffected. Inflation, although cooling down, has significantly impacted the purchasing power of lower and middle-income individuals. With the pandemic savings having been depleted for most Americans, recession fears are now growing as the job market weakens and interest rates remain high.

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[–] ClimateChangeAnxiety@hexbear.net 10 points 5 months ago

Rich people were able to take out bullshit fake loans for fake businesses that immediately got forgiven. Everyone else got enough money for rent once.