this post was submitted on 07 Jan 2024
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90
Yellen says US ‘soft landing’ underway, low inflation, wage growth to spur confidence (wtvbam.com)
submitted 10 months ago by flyingsheep@lemmyhub.com to c/news@lemmy.world
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[–] WoahWoah@lemmy.world 48 points 10 months ago* (last edited 10 months ago)

We did it, everyone!! The negative effects and burden of a difficult economy was successfully borne by the lower middle class and middle class, while the wealthy generally walked away wealthier, thereby encouraging further wealth inequality despite difficult economic conditions!

Whew, that was close! We really had to thread the needle there. It even started mildly affecting the top 10% for a second!

Why, a wealthy man I work for (I wipe and powder his ass for him every time he takes a shit. It's minimum wage, but it's a job!) said he considered not buying a fifth property for a few months. Imagine how terrible that would have been for the economy!

[–] Bye@lemmy.world 22 points 10 months ago (5 children)

They really need to fix their messaging and how the media talks about inflation.

Inflation isn’t low, it’s very high. The inflation RATE is back down to reasonable levels, but you can’t ever get rid of inflation without some policies that have very very very low support.

[–] Kalkaline@leminal.space 9 points 10 months ago

Wage vs CPI is what you really want to look at, whether you include food and energy prices changes how you perceive the impact. https://www.statista.com/statistics/1351276/wage-growth-vs-inflation-us/

[–] SheeEttin@programming.dev 9 points 10 months ago

Yes, that's what it means. Inflation is a rate. When inflation is low, it's still inflation, but it's a low rate.

[–] Kata1yst@kbin.social 7 points 10 months ago

There's zero reason to ever "deflate" a currency. In fact, when it's been tried every single time it's become catastrophic.

The new numbers are bigger than the old numbers, but as long as wages catch up sooner rather than later, they're just a bigger number without being a detriment.

[–] Encode1307@lemm.ee 2 points 10 months ago

You keep using that word, I don't think it means what you think it means.

[–] lennybird@lemmy.world -1 points 10 months ago

Can you give an example of what you mean, here? What comes to mind are price of common goods such as eggs or gas which have indeed come down.

[–] tacosanonymous@lemm.ee 20 points 10 months ago (2 children)

She can fuck all the way off. It doesn’t matter if inflation slows. It was bad enough to fuck over half our population. They can’t just say, "we are going to fuck you slightly less."

[–] Reverendender@sh.itjust.works 18 points 10 months ago (1 children)

Nah, they’re gonna continue to increase the fucking, just at a slower rate of growth than before. It’s not like anyone is calling for the price-gouging manufacturers to roll back their prices to 2019 levels.

[–] BraveSirZaphod@kbin.social -3 points 10 months ago (1 children)

I take it you'd be less in favor of also rolling back all wage growth to 2019 levels, no?

[–] Reverendender@sh.itjust.works 12 points 10 months ago (2 children)

What wage growth?

[–] Fredselfish@lemmy.world 5 points 10 months ago

Right I haven't had a raise in 3 years and to get that I threatened to quit and go work somewhere else. Guess it time to try that again but need to find a job that pays more than I do now and there none in my area.

It's fucked. And my wage is getting harder to live on.

[–] Szymon@lemmy.ca 3 points 10 months ago

They can, they did, you don't fucking matter to them, they're ok with you suffering and dying.

Do what you want with that info

[–] Reverendender@sh.itjust.works 8 points 10 months ago* (last edited 10 months ago)

Janet Yellen and Jerome Powell need to have their assets frozen, and be forced to keep working their current jobs for federal minimum wage.