RE: https://sfba.social/@drahardja/116225009200255920

My unscientific, inexpert, underinformed gut analysis here is that the US has been in recession in any meaningful sense for about a year now, but there’s a few dozen billionaires playing ping-pong with each other’s money and the way we measure growth mistakes that for value creation.

@inthehands This has been an issue for a while - Biden had the 'vibecession' too.
Part of the problem is the LLM circlejerk inflating the metrics,
part of the problem is the metrics are bad in the first place, and if you look at how our economy is actually doing for *most americans* shit has been going bad for multiple decades, including multiple "K shaped Recoveries" (the rich get richer, poor get poorer, but the gdp goes up again so no recession) in a row.
@inthehands Inequality has gotten so severe in this country that most of "consumer spending", for example, is done by 10% of the population - which means when you read "we still had strong consumer spending for christmas" in the news - that means "rich people kept buying shit though, so it must be fine.", if 90% of people had to cut back severely, but those 10% kept or slightly increased spending, it would show up as the economy being "fine" in the metrics, currently, still.
@inthehands As someone who cares about math and statistics: I kinda fucking hate economics, as a field. (Mainly because it's emphasis on data *implies* and *presents as having* a lot of objectivity and rigor, which does not actually fucking exist if you look at their numbers and assumptions for too long.)
@miss_rodent @inthehands And they don’t even know how to draw a graph…