Paul CantrellMar 14

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.

Show threadVMar 14
@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.
Show threadGhostOnTheHalfShell

@miss_rodent @inthehands

The more interesting number to focus on is one that economics doesn’t care about:

Affordability which is defined as income divided by cost of living.

The utility of that ratio is that the numbers game of correcting for inflation is irrelevant at that point. You measure dollars in income and dollars spent on the basics which can be a challenging, the same idea can applied to businesses, although it probably requires a little bit different interpretation

Mar 14 at 10:53pmWeb