Oops my bad I will stop buying food until the price goes down.
thank you for your cooperation
Browbeating a single mother of three to stop buying her crying kid a candy bar at the store because her pricey impulse buy is overheating the economy meanwhile my landlord who owns 1,500 properties buys a third private jet.
using my PC full of silicon and gold literally mined by third world child slaves to figuratively mine fake money and literally overheat the planet while complaining about single mother impulse buys figuratively overheating the economy
They’re not wrong though. Inflation is our fault. If we would instead choose to use force to take the value of our labor rather than allow the ruling class to steal it from us, we wouldn’t be suffering under inflation.
no more half measures walterwhatever happened to that bit account? did they get bored?
:bart-say-the-line: (why do we not have this emote??)
no more half measures walter
Weird because bourgeois economists have admitted, all the way up to the IMF and World Bank, that they don’t understand and can’t model for inflation (cause its caused by capitalist greed and their salary depends on not understanding). Marxist economists don’t have that problem.
So much for basic economics
It’s advanced economics (econ 201).
Always love when these op-eds encourage behaviors that they will shriek about the results of one month down the line. Annie probably already has her “Millennials are Killing the Luxury Goods Market!” written and ready to go
The thing is, luxury foods are ironically less expensive. The inflation is all in the shit we need to buy like food, gas, and rent. Their arguement is literally that we should stop buying food.
She’s married to Ezra Klein and is a neoliberal UBI supporter. She definitely believes this stuff and thinks everything’s mostly fine in the economy.
Thanksgiving dinner must suck for Noami
Ezra Klein and is a neoliberal UBI supporter
Ofc
you know the contradictions are hitting all time highs when the capitalist media starts putting out “participating in capitalism is ruining capitalism”. god bless.
Can’t wait for the follow up article “unemployment is your fault because people aren’t consuming enough”
Real hourly earnings for workers in the tenth percentile of wage distribution went up more than 8 percent in the past three and a half years, the economists David Autor, Arindrajit Dube, and Annie McGrew found.
Amazing how neither the article nor the linked study say how much that increase was in absolute dollars. Wouldn’t want people to know the baseline.
Three years ago, the pandemic gnarled supply chains around the world, leading to shortages of many consumer goods. At the same time, the American government transferred roughly $1.8 trillion to households in the form of generous unemployment-insurance benefits, an amped-up child tax credit, stimulus checks, and delayed or forgiven student-loan payments. Less supply, more demand—it was a recipe for higher costs.
Never mind the trillions the Fed spent to float the repo market or the numerous analyses showing corporate profits to be the main cause of inflation, no it’s you dirty consumers for not being frugal enough (also please don’t be frugal it hurts our stock investments).
purchasing power parity? inflation? what’s that?!?!?! line just go up! that simple!
went up more than 8 percent in the past three and a half years
By the magic of calculating what that is with compound interest, that’s only 2.3% growth per year.
Everyone loves using misleading percentages of growth to paint whatever picture they want. Everything should only be in yearly compound growth numbers.
I skimmed the linked article and it’s pretty clear to me that the rise in the 10th percentile (which is sub-minimum wage income as far as I can tell) is because inflation made the cost of working more than the fucking wages and that measly 8% increase from 15,700 to like maaaybe 17,000 a year (pre-tax, etc. etc.) was needed to make people not just stay home because the health, economic, and opportunity cost of going to work was more than just staying home for most people.
Just stop paying rent and live in the street, dummy.
Wait, what do you mean that’s criminalized and will make you a constant target of the police?
In a sane world I could simply look at this and go “Oh, this is an elaborate ploy by a depressed writer to make someone kill them.” But now everybody in that millieu is on like seven layers of contranianism and copium so it’s hard to know what to make of this.
My next impulse purchase?
it’s more fun as a DIY project imo
You get a lot more satisfaction at routing out the channels for the blade yourself.
I would probably chop my own hands off to be honest
I am fairly accident-prone
Sans Culottes to Annie: “This is your fault”
"Hmm, my OpEd writer career would be set if I could just provoke leftist podcasters to read them while recording.
I know what to do!"
My bad. I really should just hold out with buying food until they lower the prices.
How is it my fault when I’m not buying stuff?
The entire market literally only wants to sell to billionaires now, how is it my fault us poors literally got forgotten about as a consumer base? So much so that we are not needed even as consumers anymore?
The poors spending extravagantly on food and rent. But TVs instead they’re cheap!
Message received. I will steal expensive things instead
