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Cake day: June 12th, 2023

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  • I’m tired of being told how awesome the economy is. It’s great for the rich, but the cost of necessities like housing, food, and healthcare has outpaced the CPI, so we all feel worse. A cheaper big screen tv doesn’t help much if you can’t afford the basics.

    Aggregate economic data only says so much. Lots of INDIVIDUAL people are suffering. While the CPI is one basket of products, everyone has their own, and this everyone has their own rate of inflation. So saying wages have kept up with inflation is a fallacy on 2 fronts. Some saw income outpace the CPI, others it did not and they’ve lost income. But even among the former group, everyone had a personal rate of inflation that may well be higher than the CPI.

    Instead, the wealthy and politicians look at averages and medians and assume it’s just negative feelings. But we were alive in the 90s. We were alive in the early 2000s. We know about the 50s and 60s. We know the economy used to be better for working people. We want better.

    Trump, of course, will not deliver that. But Harris didn’t inspire confidence she would, either.