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re: U.S. GDP has tripled the last 20 years, do you think the country is 3x better than it was?
Posted on 5/29/25 at 1:05 pm to RaoulDuke504
Posted on 5/29/25 at 1:05 pm to RaoulDuke504
quote:
U.S. GDP has tripled the last 20 years, do you think the country is 3x better than it was?
It's mainly resulted in the very richest being 6x richer while middle class buying power has been decreasing since the early 80s.
1
Posted on 5/29/25 at 1:06 pm to RaoulDuke504
All propped up by cheap borrowing. Embarrassing.
Posted on 5/29/25 at 1:41 pm to wm72
quote:
It's mainly resulted in the very richest being 6x richer while middle class buying power has been decreasing since the early 80s.
And don't forget, productivity measures of American workers has skyrocketed right in line with these GDP numbers. The top 1% sure as shite aren't responsible for all that increased productivity.
A lot of people have said that we need to tax the frick out of these rich mofos and their companies unless they start treating their employees more fairly.
CEO pay in 1990 was typically 74x greater than an average employee's salary working for their company. Ridiculous.
But wait....in 2023, it reached 290x!
Yep....nothing to see here. Let's keep taxes low for the rich and make sure the poor don't pay anything! The middle and upper will take care of everything!
Posted on 5/29/25 at 1:53 pm to Saunson69
quote:
Inflation is not that bad really in last 20 years. 1965 to 1985 it increased 242% 1985 to 2005 it increased 82% 2005 to 2025 it increased 64%
From 2005 to 2020 it wasn’t bad. From 2020-2025 it’s been terrible. At least for middle class and below. Upper class doing amazing thanks to taking advantage of free money and government handouts like PPP.
Posted on 5/29/25 at 2:10 pm to mmmmmbeeer
quote:
CEO pay in 1990 was typically 74x greater than an average employee's salary working for their company. Ridiculous.
But wait....in 2023, it reached 290x!
It's a problem with the whole model. Those CEOs are probably worth it to stockholders because they're enacting cost cutting methods like part time jobs without benefits, subcontracting cheap overseas labor to rid themselves of higher paying American jobs etc etc. . .
The whole model just penny pinches working to upper middle classes in ever more surgical ways into staggering increases for the richest investors.
This post was edited on 5/29/25 at 2:17 pm
Posted on 5/29/25 at 2:15 pm to wm72
Any idiot in a suit can rubber stamp the latest Kinsey analysis.
They're not worth a fraction of the actual labor they govern.
They're not worth a fraction of the actual labor they govern.
Posted on 5/29/25 at 2:27 pm to wm72
quote:
It's a problem with the whole model. Those CEOs are probably worth it to stockholders because they're enacting cost cutting methods like part time jobs without benefits, subcontracting cheap overseas labor to rid themselves of higher paying American jobs etc etc. . .
The whole model just penny pinches working to upper middle classes in ever more surgical ways into staggering increases for the richest investors.
'member way back in the day when companies didn't face existential threats if they had a bad quarter or two? When a CEO could actually lead a business through methodical, intentional growth over the long term, hiccups and all on the way there, and investors understood that as a means of achieving durable success?
Yeah, those were the days. Long gone, but those were the days.
Posted on 5/29/25 at 4:42 pm to Saunson69
quote:
Truth is there are so many factor that go into this, that no one here unless they have a PhD in economics and studied this stuff for a decade, can really tell you if it was better or not then vs now as there are multiple factors such as GDP per capita, average earnings and median earnings, home prices, interest rates, inflation, average and median debt per family. A lot goes into it.
Sorry but I will never accept the premise that only the erudite phd class has the ability to ascertain this.
The average American absolutely knows if it is better or not.
Posted on 5/29/25 at 4:56 pm to Rrrrroger
quote:
Numbers in the air that have very little tangible impact on the average American’s daily life
The average American lives a much richer lifestyle today than 20 years ago. How did that happen if GDP had nothing to do with it?
Posted on 5/29/25 at 5:03 pm to mmmmmbeeer
Is this the thread where a bunch of broke dicks bitch about wealthy people?
Posted on 5/29/25 at 5:12 pm to mmmmmbeeer
quote:spot on unfortunately.
Yep....nothing to see here. Let's keep taxes low for the rich and make sure the poor don't pay anything! The middle and upper will take care of everything!
Posted on 5/29/25 at 5:35 pm to Saunson69
quote:
it doesn't appear that life has gotten much better for the middle class on down
There is plenty to complain about, but the comfort, housing and leisure of Americans has increased at every level of society. It is now simply taken for granted that you'll be watching streaming television, on a 60 inch third television in your home that is *only* 15% larger than your parents, with almost certain air conditioning and heat, with two cars in the garage with global positioning systems.
The amount of plenty that people assume is a natural state, rather than the hard won measure of progress is stunning.
Posted on 5/29/25 at 6:04 pm to RaoulDuke504
We don't have a revenue problem we have a spending problem yo
Posted on 5/29/25 at 6:11 pm to RaoulDuke504
I would think the elites are 3x richer if not more.
Posted on 5/29/25 at 6:13 pm to RaoulDuke504
It doesn’t actually measure production. A good chunk of that is government and agency jobs that are a net drain on production. Around 10% is financiers trading assets around without adding much value to the economy.
Posted on 5/30/25 at 7:56 am to RaoulDuke504
The U.S. Economy has been in a “silent depression” for 20 years.
This explains it all very well with charts and data to back it up.
Real wages haven’t increased since 1983.
It was as good as it gets for the entire population in the year 2000.
LINK
This explains it all very well with charts and data to back it up.
Real wages haven’t increased since 1983.
It was as good as it gets for the entire population in the year 2000.
LINK
Posted on 5/30/25 at 8:10 am to Powerman
quote:
Kinda my point
These GDP gains have improved the lives of a very small % of the population
Technology and its availability have greatly increased in the past 20 years. As a small example, everyone has a smart phone, including kids.
Housing has gone up, and the price of cars has gone up. i'm willing to bet the combined value of household vehicles is way higher then it was 20 years ago.
just because me are dominated by the" must have the latest and best" mentality but are startled with debt doesn't mean we are not better. i can guarantee most households have way more "luxury" items then we did 20 years ago. now most luxury items are considered essential items.
Posted on 5/30/25 at 4:00 pm to tigeraddict
quote:
i can guarantee most households have way more "luxury" items then we did 20 years ago. now most luxury items are considered essential items.
Cheap Asian products that diminished American manufacturing is precisely what flipped the script on "luxury" items, though.
In the 60s-80s, the new electronics were luxury items for working middle class folks but they owned a home.
I lived in Italy from 2000-2006 when European policies meant Chinese DVD players were just as expensive as German ones and Chinese shoes were more expensive than nice Italian ones. Luxury items in Europe, at that point at least, were still luxury items insofar as the retail price reflected the costs to make them with decently paid workers.
It's like we simply traded good jobs that brought real buying power to a majority of working Americans for cheap "luxury" Chinese TVs at Walmart.
This post was edited on 5/30/25 at 5:20 pm
Posted on 5/30/25 at 5:35 pm to RaoulDuke504
Gotten significantly better the last 4 months
Posted on 5/30/25 at 5:58 pm to RaoulDuke504
quote:
free market
someone hasn't been paying attention. quote:
a free market is an economic system in which the prices of goods and services are determined by supply and demand expressed by sellers and buyers. Such markets, as modeled, operate without the intervention of government or any other external authority.
Idiots love to claim we have a free market, but fact of the matter is, we're far from having a free market. Especially with the current jackass in office.
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