Didn't basically everything go up but wages? So we inflated the cost of things by what, 15% or more over the past few years, wages didn't follow. All the savings and free money people had are gone now, it took a while.
I don't care if we blame the current economic policy, I don't like the current economic policy at all. I think the problem is much bigger than that.
I still would like to know where all that money went. I can't figure that out.
You almost answered your own question. The price of things went up, and they went up along with profits. The money went back to the firms who raised prices. It's greedflation.
I get Covid was a mess in real time and it was used as a political pawn, which really sucks. Trillions of dollars went into the US economy, and most of the country feels broke.
I don’t care how the market did, fuck the market, it’s a bubble that’s been waiting to pop for years.
Wealth tax. Progressive wealth tax that caps at a 100% tax on wealth over $10M. Exact number negotiable, but that's where I'm starting the bidding. No individual has a legitimate use for more than $10M in assets.
> I don't care if we blame the current economic policy
You mean the previous one until January, that stopped the inflation, or the current one that is making a lot of it for the next months?
> I still would like to know where all that money went.
The money is cycling around people and companies. That's what money almost always do, the US was an exception until recently, but exceptions to that never last.
> The money is cycling around people and companies. That's what money almost always do, the US was an exception until recently, but exceptions to that never last.
It is? Why have wages been so stagnant for so long? Isn't that one of the leading theories/reasons Trump was elected, people are completely strapped for cash. I had read recently that loans are being increasingly being paid late, credit card debt has grown massively, home prices and through the roof, and the job market is a disaster.
US post pandemic economic recovery has been astonishingly great measured against other major economies.
Obviously (real) wages did take a hit like everywhere but have been recovering, too.
My working theory is that noticeable inflations makes people go crazy and trumps anything else. Completely closes people off to rational thought and that’s what sunk Biden. Despite awesome economic recovery given the circumstances.
I don't care if we blame the current economic policy, I don't like the current economic policy at all. I think the problem is much bigger than that.
I still would like to know where all that money went. I can't figure that out.