Lanhdanan
109643
3437
96
Dec 17, 2020 10:39 AM
Lanhdanan
109643
3437
96
Harsamina
You mean workers need to be able to afford to participate in the economy too? *Gasp*
jimmyhowlett
Well then the average poor person had more insight into the economy than the average economist.
drGrafenberg
The Bolsheviks are quite tame these days.
jimbox114
While we are ok money wise we bought less this year because we don't plan on meeting up for our family's covid spreader event.
palfreygames
Rich people like: why aren't the poor buying things, we took all the money for ourselves and left nothing but I don't get it
ZombieDK
I know how to pronounce Bourgeois, but I always end up reading it like Burr-GEE-O-is
peepoleRfunny
sempiesalty
One of the driving points for their predictions was the large decrease in consumer debt. They thought people would spend more on credit.
TheMeatIncident
It's dystopian Christmas, Charlie Brown
Misteree8
Its extra sad when reality is a dystopia and you (i) escape it by playing a Vg about a cyberpunk dystopia.
RobOttman
thekeyofe
War. War never changes.
Aaronb1138
Many people who *think* their jobs are secure and make good money were vaguely on consumerist shopping sprees April - August. (e.g. look at
Aaronb1138
what we did with the back yard / bathroom remodel posts). The real slowdown is those people ran out of shit to buy. I work with several, and
Aaronb1138
they're more out of Christmas ideas than usual because with WFH they already bought every entertaining trinket they could think of.
texasfoodman
My three priorities. Shelter. Food. Mechanical Keyboards.
RideTheStimutacs
I feel like they don't understand what "breaking news" means. Some people's opinions on something last month is neither breaking nor news.
Turbolibros
cleverlydisguised
How is anyone broke? The government gave most of us $1200 almost a year ago! * Jonh Mulaney voice* You ALREADY SPENT IT?
Theraininspaindrainsmainlydownthemainvein
Meanwhile massive American corporations "We want a gift, but only if it's MONEY"
PolishPancakeWithCanadianMapleSyrup
I work by our biggest mall in our area. Traffic crazy yearly. This year the streets are quiet. Parking lots empty. It's pretty freaky.
PostMoThoin
ILikeNewEnglandBeer
Fuck boomer mentality - the whole "i got mine now get your own" thing. Instead of trying to make a better future, they want suffering
FajitaPrinceofAllMexicans
Boomers wonder why we aren't getting along with them when most of the elected representatives have been chosen by them.
keyonne
And they continue to make the same mistakes that have been proven not to work both with science and actual physical happenings in life.
nclu
"But I only voted in a way to make sure my home value only ever went up. Why are my children all moving far away?"
EveryGuyonImgur
Economists aren’t bourgeoise. They are part of the intelligentsia. God... marxists today...
hickchick19817
Are sales down this year or not? I heard one news station say that holiday retail sales appear to be unaffected this year. True? Not true??
68people
Economists sometimes help avoid the worst scenarios, but not much else. They work brilliantly in hindsight though.
HighFunctioningAlcoholic
It's their job to predict shopping patterns. Not everything is a personal attack.
DeleteAccountant
How shit are these economists that the NYT are talking too?
NoneOfThemKnew
Reading the article, it seems like they thought spending would go down w/o stimulus, but it's even worse than they thought.
Ewraith
Almost like when the only mainstream, accepted school of economics is the Chicago school you get fucking idiots who dont understand reality.
Ewraith
Richard wolff out here screaming into the abyss but we can't listen to him because Marxism bad.
Ilikecreativepeople
Kinda like the only government school of thought is reaganomics
ballsoutflyer
Hmm... I wonder how this television tastes... *MONCH* meh no good, I think I should try THIS FOOD I FUCKING BOUGHT.
NuclearMonk
Dartfordian
Why pick on the NYT. They are reporting what other people said, which is their job
Hildyannajones
Exactly!
JollyJokzr
Uncritically reporting what someone says isn't good journalism, imo
cadesama
They chose the people to talk to.
Darkspire
Choose better people to talk to. Be useful instead of giving idiots the stage. We've had enough of that over the last four years especially.
Mileryen
This just says spending is below projection, not what was projected with C19. They could project a 50% decrease and reality was 60% 1/2
Mileryen
but people prefer to read it as "economists think nothing is wrong" because it feels better. They make projections - it's their job. 2/2
Truesoldier00
People in the comments are misinformed. Consumer spending actually increased this year. Houses, cars, furniture. So this is strange.
NoneOfThemKnew
Spending was up when disposable income was up. Then stimulus dried up...
Truesoldier00
People aren’t goin on vacations, going to spas, etc, so service industry is way down, but commerce is up
brainkandle1
Yep. My wife's online store just stopped selling in November kinda outta nowhere. Like a big group of folks ran out of money simultaneously
sadurdaynight
Companies that have laid off millions don't understand why millions aren't buying things... Film at 11
KirchoffsVoltageLaw
I've literally bought like 4 shirts since lockdown and no shoes at all. There's simply no need to dress up anymore.
mmartin762
I haven't bought any clothes in the last 12 months. My underwear has holes in it. Only thing I have bought is food. Other than bills that is
CannibalisticHedgehog
I haven't bought anything in about 3 years.......
JacksCookieLifter
Same
Counterfit
I bought stuff in May/June. Two shirts, 1 pair each shorts and pants, 1 undershirt. I didn't wear one shirt until last month. >
Counterfit
The other shirt and the shorts are still unworn
KirchoffsVoltageLaw
For me its literally wearing old t shirts because working from home
paranoidplatinum
I know. It kinda makes me feel like a bum though. like I don't put anything "nice" on and I just feel like a blob of baggy clothes
paranoidplatinum
By "nice" I literally just mean jeans and a top that's not an XL t-shirt
Rapturesfall
I have been wearing sweat pants a lot, and just gave in to wearing them in public.
Badprenup
I try to put on regular clothes 2-3 times per week to avoid that
hildr
Is it different than before? Or is it that weird to buy shoes only once a year/2years maybe?
Badprenup
I buy shoes about once per year, but they are cheap $10-20 dollar shoes and I run them ragged. I haven't bought a new shirt in... 8-10 years
JacksCookieLifter
I only buy shoes when my old ones start falling apart.
KirchoffsVoltageLaw
Its nice to have ones that go with different types of clothing. High tops are useless in the summer
hildr
Luckily shoes last more than a year when they are not used.
BootsDusty
tombrazelton
That headline is some full blown victim blaming right there.
Cilvaa
thekeyofe
The cruelty is the point.
Superchief86
He would know.
EmptyMySpine
swordofblaze
Innacurate, in the real us economy the rich guy would have a cookie pile the size of the empire state building
umlcat
Yes !!! The "The poor wants to steal your cookie" cult ...
aLifeOfService
https://mkorostoff.github.io/1-pixel-wealth/ alright. This is the third time I have commented this today under different posts.
pandaSloppy
This is why I have trust issues with bald guy . And if its a rich bald guy then more evil
Lanhdanan
Classic and very accurate!
thelastmelt
The pile of cookies needs to be about “insert massive number here” times bigger.
flail
This would be more accurate if the guy on the right had a pile of cookies larger than the house. People don't understand how unequal we are.
pkyu
The middle man should have two. He gives one to the poor guy and then the rich guy steals the other? That would seem more accurate.
Kotose88
That would imply that the middle class has less than the poor? That's asinine.
pkyu
You know people do think that way though right? There’s an upper and lower middle class. Make enough to get by but not enough to live by.
BreakablePotato
You're demonstrating that bowtie man has successfully conned you into thinking the poor are holding you back, not himself.
sadurdaynight
Guy in middle will actually ask guy on right to hold his cookie for him, and guy on right starts eating parts of it as "fee" for holding it.
sadurdaynight
Guy on right will give guy in middle a cookie, but only for a short time, and expects 2 cookies back in return.
Lanhdanan
While the guy on the left so very carefully and thoughtfully sneaks a crumb for himself.
DontDoWhatDonaldDontDoes
Had not anticipated such a steep decline? Really?
Hildyannajones
Agreed—economists are weird
override367
Chicago school of economics is a religion devoted to the nobility of the rich, and the corporate media has a vested interest in listening
brainkandle1
1 To be fair, Americans were buying Amazon products (and from other online shops) like wildfire over the course of the pandemic
brainkandle1
2 but November must have been the big POOF end of the money - my wife runs an online shop, had been selling like crazy until Nov
Jattetont
It doesn't say they didn't anticipate a decline, just that it was steeper than anticipated. How much of a decline would you have guessed?
kevinallover
How much has the unemployment rate increased?
Jattetont
Off the top of my head I thought it was currently about 6% up from 3% before the pandemic. It's actually 6.7% up from 3.8%. But that >
Jattetont
> understates the impact because labor force participation has fallen more steeply, and because it's unevenly distributed. Also, new >
Jattetont
> unemployment claims have been rising recently, and have been higher than economists' projections, which could be part of the reason why >
thegreatwhiteblackartblackestmaster
How are rich people so fucking dumb? If you give the people with no money extra money, they will spend more money than they normally would.
m4ttschneider
They’re not that dumb and they understand how it works. The question is how are they so callous and evil?
mrsdowneyjr
But that's not what the rich do so they don't understand us.
CGWN
They seem to be reporting the opposite here. Essentially, the poor are holding back money so they can pay rent instead of buying home goods.
TK421isAFK
As stupid as that statement is, you must be rich.
Chriswagon1
There is a minimum cost of living which many are barely meeting, now more than ever. if that cost was say $900/m and you earn 1000 you arent
Chriswagon1
Going to spend your last 100 on non essentials, you save for a rainy day. If you earned 1200 your surplus triples, you could spend 150 and
Chriswagon1
Still put 150 away, a little over the minimum makes a huge difference. Problem is every time pay goes up companies up their prices to match
thegreatwhiteblackartblackestmaster
Because the poor don't have money to spend. If they gave the poor money to spend, $1200 a month or so, it gets spent immediately.
CGWN
Assuming full income security. I'm saying that retail sales could be down because future assumed necessary spending is being prioritized.
CGWN
I.e, current bills have been paid, but hold off on buying a new television because we don't know what the next few months will look like.
TK421isAFK
That would be a thing if people were making enough money to actually save some each month for "future assumed necessary spending".