You can see all these points made in the opposite direction when they talk about US GDP increasing. Many liberal economists have been utterly bamboozled by the concept of "the economy" doing better while public sentiment is very unhappy, but it makes total sense if, completely unlike China, "the economy" improving is actually only synonymous with "capitalists getting richer". It's also why we need better measures than GDP if we're going to do actual economic analysis. These neoclassical economist dipshits would have you believe that doubling your food prices is actually good and a sign of a successful economy because it means that the GDP number goes up.
At this point, I think of the US GDP going up (in lieu of deeper statistics) as a sign that the economy - as in, the actual one that 90% of the population live in - is getting worse, not better.
You can see all these points made in the opposite direction when they talk about US GDP increasing. Many liberal economists have been utterly bamboozled by the concept of "the economy" doing better while public sentiment is very unhappy, but it makes total sense if, completely unlike China, "the economy" improving is actually only synonymous with "capitalists getting richer". It's also why we need better measures than GDP if we're going to do actual economic analysis. These neoclassical economist dipshits would have you believe that doubling your food prices is actually good and a sign of a successful economy because it means that the GDP number goes up.
At this point, I think of the US GDP going up (in lieu of deeper statistics) as a sign that the economy - as in, the actual one that 90% of the population live in - is getting worse, not better.