This is flat out fucking delusion driven by media hysteria and America's collective lack of memory. It's fucking shameful to watch the "materialists" bleat out just absolutely insane views of reality.
The actual unemployment rate is near 20%. I don't know how you can believe that the entire media can be manufacturing consent for Biden, but isn't doing so for the state of the economy.
We're like in mid crash '29 right now. Things are just getting started. But they're already very fucking bad, and you're just completely out of touch if you think otherwise.
Not sure if this puts us in the Great Depression per se, but according to this article, huge numbers of people are either not paying rent, or are putting their rent on credit cards, at the least. The article quotes a rental payment processor company called Avail as saying that only 55% of landlords using their service received payments in full in July. This article says that 32% of households did not completely pay their housing payment in July, which is apparently a record, and the third month in a row in which the previous record was broken.
Another important point to note is that undocumented people do not receive the Bernie Bucks, nor did they get stimulus checks. Likewise for unhoused people.
Unemployment is insanely high as well - though the $600/week payments has helped a lot of people, that benefit has expired now, so we'll see what happens next. This wound-lick of a welfare plan kept a lot of us from penury for a while, I'll admit - my income shrank by only about 10%, which is amazing considering I went from working 40-45 hours/week to 13-20/week. Again, without that added benefit, a lot of people are gonna get fucked, which is going to drive down aggregate demand and further depress the economy. (Welfare is good folks, whodda thunk?)
I imagine the medical debt from covid hospitalizations is going to really fuck some people over, too, though I don't know the numbers on that.
Anyway, you wanted a material analysis, so here it is.
This is flat out fucking delusion driven by media hysteria and America's collective lack of memory. It's fucking shameful to watch the "materialists" bleat out just absolutely insane views of reality.
The actual unemployment rate is near 20%. I don't know how you can believe that the entire media can be manufacturing consent for Biden, but isn't doing so for the state of the economy.
We're like in mid crash '29 right now. Things are just getting started. But they're already very fucking bad, and you're just completely out of touch if you think otherwise.
Why would the media be defending the economy? They want people to think it's bad so Biden will ein
deleted by creator
If it hasn't touched you, it's hard to see it happening.
Too big and too slow. Why we have such a problem with idiots and masks too.
Consumer spending is up!
I go outside everyday, and I see zero signs of the "economic devastation" or a "catastrophe"
I can't speak for anyone else but I've been spending money stupidly because I'm depressed and looking for anything to distract me.
deleted by creator
Like 5 businesses closed their storefronts on main street in my liberal, upper-middle-class town.
No business closures in my working-class urban neighborhood
Link
Not sure if this puts us in the Great Depression per se, but according to this article, huge numbers of people are either not paying rent, or are putting their rent on credit cards, at the least. The article quotes a rental payment processor company called Avail as saying that only 55% of landlords using their service received payments in full in July. This article says that 32% of households did not completely pay their housing payment in July, which is apparently a record, and the third month in a row in which the previous record was broken.
Another important point to note is that undocumented people do not receive the Bernie Bucks, nor did they get stimulus checks. Likewise for unhoused people.
Unemployment is insanely high as well - though the $600/week payments has helped a lot of people, that benefit has expired now, so we'll see what happens next. This wound-lick of a welfare plan kept a lot of us from penury for a while, I'll admit - my income shrank by only about 10%, which is amazing considering I went from working 40-45 hours/week to 13-20/week. Again, without that added benefit, a lot of people are gonna get fucked, which is going to drive down aggregate demand and further depress the economy. (Welfare is good folks, whodda thunk?)
I imagine the medical debt from covid hospitalizations is going to really fuck some people over, too, though I don't know the numbers on that.
Anyway, you wanted a material analysis, so here it is.