149
submitted 7 months ago by yogthos@lemmy.ml to c/news@hexbear.net

The US economy is experiencing a "selective recession" where lower-income Americans are struggling due to rising costs and dwindling savings, while upper-income consumers remain unaffected. Inflation, although cooling down, has significantly impacted the purchasing power of lower and middle-income individuals. With the pandemic savings having been depleted for most Americans, recession fears are now growing as the job market weakens and interest rates remain high.

you are viewing a single comment's thread
view the rest of the comments
[-] Tunnelvision@hexbear.net 52 points 7 months ago

It’s such bullshit. Someone on here linked a site that you could look up who received PPP loans and who had the debt absolved. So many small businesses tyrants in my area got like almost a million.

[-] ChestRockwell@hexbear.net 28 points 7 months ago

Meanwhile I will have to start paying student loans again in a few months. Trying to get ready but I can't believe that Biden turned that switch. Total dogshit.

[-] someone@hexbear.net 6 points 7 months ago

Trying to get ready but I can't believe that Biden turned that switch. Total dogshit.

It's actually worse than that. His administration increased future student loan interest rates.

this post was submitted on 23 May 2024
149 points (99.3% liked)

news

23644 readers
582 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-- Repeated consecutive posting of reactionary sources, fake news, misleading / outdated news, false alarms over ghoul deaths, and/or shitposts will result in a comm ban.--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