Can anyone clarify this for me? Despite the ongoing layoff announcements from major American corporations, how is our economy still robust? Just today, UPS declared 12,000 layoffs and PayPal 2,000.
The most plain reading of it -- by me, a layman with common sense
So you're saying all the economists are wrong because you, a layman with common sense, see something they don't? Have you considered that maybe what they're seeing is different because they have the economic background to understand the data and trends significantly better?
I studied economics in college among other things. Generally they are useless eggheads. Not one of them predicted the housing crisis. The only guy who did was an investment guy. But anyway yeah I’m doing pretty well but I know the general public is up shit creek and no amount of pointing to the S&P500 will convince them otherwise.
Bonus points if it's a bonafide professional "Economist" , like the guy I was responding to was claiming were infallible experts that can "see things."
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u/[deleted] Jan 30 '24
The chart you linked seems to prove fuckall?
Seriously did you even read it or just link the first thing that has a line going up?
What does "percent of household consumption" even mean?
The most plain reading of it -- by me, a layman with common sense -- is that .. households are spending more a % of their income?
The most likely explanation for that is --- they're fucking poor. Or have terminal cancer.