this post was submitted on 19 Jul 2025
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[–] slaacaa@lemmy.world 129 points 1 week ago (2 children)
[–] Flocklesscrow@lemmy.zip 69 points 1 week ago

Unironically, it used to be called "Horse and Sparrow Economics," with the rich eating grains, and the poors pecking their meals from the horseshit.

True story

[–] SaharaMaleikuhm@feddit.org 20 points 1 week ago

"Thank you my liege"

[–] otter@lemmy.dbzer0.com 98 points 1 week ago (1 children)

By "trickle down", they meant "pissing in your mouth, peasants", FYI.

[–] agamemnonymous@sh.itjust.works 77 points 1 week ago

No, that's disgusting.

Trickle-down is a perfectly wholesome synonym for horse-and-sparrow economics, so named because sparrows pick undigested oats out of horseshit. Why'd you have to go and make it gross?

[–] RememberTheApollo_@lemmy.world 59 points 1 week ago (4 children)

Where’d this stat come from. Looking around and another site says 25% made payments for groceries. Another site says 60% split payments when buying - not just for groceries. So I sincerely doubt the stat of 60% making payments just for groceries.

[–] wizardbeard@lemmy.dbzer0.com 27 points 1 week ago* (last edited 1 week ago) (1 children)

This comment on the post indicates that it's a CitizenWatch article, but that article's own listed sources don't support the 60% number either (as I call out in my response to that comment).

I swear there's barely anywhere online anymore where people practice basic skepticism. If it aligns with their existing biases they just slurp it up, no matter how absurd.

[–] iii@mander.xyz 2 points 6 days ago

👍This comment section is a particularly bad example.

[–] brot@feddit.org 27 points 1 week ago (2 children)

Yeah, that statistic is obviously bullshit and people here should notice. They really should notice

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[–] Itdidnttrickledown@lemmy.world 45 points 1 week ago (1 children)
[–] grue@lemmy.world 23 points 1 week ago (1 children)
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[–] sp3ctr4l@lemmy.dbzer0.com 40 points 1 week ago* (last edited 1 week ago) (5 children)

The SP500 hitting highs is a lot less good news when you realize most of that is simply due to the dollar devaluing against other international currencies.

That isn't asset appreciation, it's currency devaluation.

EDIT:

I m on mobile and don't have the ability to make my own chart with DXY and SP500 normalized to each other, but uh...

https://portfolioslab.com/tools/stock-comparison/%5EDXY/SPY

Look at this in YTD, then in 1Y, then 5Y.

Normally, these two things move in the same dirrction, though the SP500 tends to grow much more when the DXY grows a little.

Well, now, basicslly since Trump took office, they're moving in the opposite direction.

So, yeah, this is now what is called a 'melt up', where stocks climb higher, but not because of any kind of underlying fundamental strength of the US economy but because the USD has lost about 10% of its value compared to the currencies it most often is traded against.

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[–] rozodru@lemmy.world 34 points 1 week ago (3 children)

Canadian here, what's "AfterPay"? and PLEASE don't tell me it's like layaway or a payday loan or something.

[–] Denalduh@lemmy.world 31 points 1 week ago

That's exactly what it is.

[–] Bytemeister@lemmy.world 17 points 1 week ago

Yeah, basically a payday loan you can do from your phone. I'm sure this won't crash the economy.

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[–] explodicle@sh.itjust.works 31 points 1 week ago (3 children)

Daily reminder that "higher GDP is good for the economy" is now a wildly disproven myth from the days before economics was a science, by a guy who said we'd get a 15 hour work week.

Monetary inflation is bad. The nitwits who jump in saying "ackchually velocity" are suckers who paid to learn the lie, whose jobs may depend on the lie, and would be very embarrassed to be wrong. Bailouts weren't the exception - they're the rule.

We've been robbed by the 0.1% and don't need to take it anymore.

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[–] percent@infosec.pub 25 points 1 week ago (3 children)

Sadly, Americans are groomed at a young age to dive deep into debt early in life. It has become normalized for most of the population to carry some form of debt (credit cards and student loans are popular choices).

Most people don't even bother making a budget — a task that only needs to be done once a month, and is easier now than ever, thanks to technology.

[–] surewhynotlem@lemmy.world 35 points 1 week ago (9 children)

Try and make a budget for minimum wage. Many people can't afford to live even meagerly.

Why bother budgeting if you're just going to lose anyway?

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[–] Seefoo@lemmy.world 23 points 1 week ago* (last edited 1 week ago)

Legit rules of the trickle

  1. Trickle tomorrow
  2. No trickle? See Rule 1
[–] FlashMobOfOne@lemmy.world 22 points 1 week ago* (last edited 1 week ago)

Weird stat aside, I was watching a podcast with Scott Galloway yesterday and he made a comment about Jerome Powell bringing inflation down to 2% without triggering a recession, and I had to facepalm. The rich, even those with a shred of empathy, are massively out of touch with what the 99% are experiencing right now.

[–] theneverfox@pawb.social 21 points 1 week ago (58 children)

Me, off in the corner believing debt is immoral

[–] markovs_gun@lemmy.world 22 points 1 week ago (5 children)

Society legitimately cannot function without debt. I agree giving people predatory "micro loans" for groceries is dystopian but every society that has discovered agriculture has also discovered the concept of debt because it's a natural consequence of an economic order so tied to seasonal cycles. Interest is also not bad, and every society that has developed debt has also quickly developed interest. Societies that have religious prohibitions or taboos against interest find workarounds because it's proven to be a critical part of how economics works. Personally I am glad that I was able to buy a house for hundreds of thousands of dollars I don't have yet because I will be able to pay off that in time and I appreciate that the bank is willing to lend me that money for such a long time at a relatively low rate of return for them. The Soviet Union even had banks that offered loans with interest but they were run by the State. It's kind of unavoidable.

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[–] Flagg76@lemmy.world 18 points 1 week ago (3 children)

That's by design, the money flows from the average American to the companies. Then slowly trickles into the pockets of the ceo's.

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[–] 30p87@feddit.org 17 points 1 week ago

What? You can pay using your ass?

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