149
The US economy is in a 'selective recession' as lower-income consumers can't cover the cost of living
(www.businessinsider.com)
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
this post was submitted on 23 May 2024
149 points (99.3% liked)
news
23345 readers
618 users here now
Welcome to c/news! Please read the Hexbear Code of Conduct and remember... we're all comrades here.
Rules:
-- PLEASE KEEP POST TITLES INFORMATIVE --
-- Overly editorialized titles, particularly if they link to opinion pieces, may get your post removed. --
-- All posts must include a link to their source. Screenshots are fine IF you include the link in the post body. --
-- If you are citing a twitter post as news please include not just the twitter.com in your links but also nitter.net (or another Nitter instance). There is also a Firefox extension that can redirect Twitter links to a Nitter instance: https://addons.mozilla.org/en-US/firefox/addon/libredirect/ or archive them as you would any other reactionary source using e.g. https://archive.today . Twitter screenshots still need to be sourced or they will be removed --
-- Mass tagging comm moderators across multiple posts like a broken markov chain bot will result in a comm ban--
-- Repeated consecutive posting of reactionary sources, fake news, misleading / outdated news, false alarms over ghoul deaths, and/or shitposts will result in a comm ban.--
-- Neglecting to use content warnings or NSFW when dealing with disturbing content will be removed until in compliance. Users who are consecutively reported due to failing to use content warnings or NSFW tags when commenting on or posting disturbing content will result in the user being banned. --
-- Using April 1st as an excuse to post fake headlines, like the resurrection of Kissinger while he is still fortunately dead, will result in the poster being thrown in the gamer gulag and be sentenced to play and beat trashy mobile games like 'Raid: Shadow Legends' in order to be rehabilitated back into general society. --
founded 4 years ago
MODERATORS
This is what all recessions are like lmao, I don't think upper income consumers were particularly affected during dot com or 08 either. In the case of 08 probably good cause they had enough savings to buy the dip on housing
totally. I worked for this 1% idle rich psycho at the time, and the impact he had from '08 meant that his accountant recommended a minor decrease in his monthly trust fund draw for a quarter, so when his wife blew $40,000 in a weekend at some 5 star hotel / shopping spree, he was grumpy for a week, especially on payday.
Women be shopping
We've hit the official recession stats several times but the high priests of capital didn't like it so they just said, "nuh-uh".