The Whore of BlahbylonNo lies detected.
#TheEconomy #WallStreet #BlueCollarWorkers #MiddleClass #USPolitics #LaborRights #IncomeInequality
Robin Barton@The_Whore_of_Blahbylon There are two economies. For the 1% everything is good as the whole system dredges wealth from the bottom and delivers it to the top. The bottom are suffering for the same reason
Zebadiah Carter@The_Whore_of_Blahbylon That's wild; I've read "The Economy" as "Rich Peoples' Yacht Money" since roughly 2017 or so. Six of one, right?
FluxAlso often media fail to disclose stuff at a *median per capita basis*, so while GDP (a fairly flaky metric on it's own as is) is growing, it's often because there's more people than the last record period and not because the average person is richer or actual economic growth.
As a lot of economists have said, if you forget the lived experience of people you are doomed to misrepresent things.
It also doesn't help when politicans will be incentivised to ramp up things like migration make numbers look better when the average person is actually poorer than last year. Conservative politicans like to pretend to dislike migration but then basically overuse it to hid how much their robbing the public and underfunding domestic education that could ironically reduce dependence on migration.
Peter Brown@Umbreon @The_Whore_of_Blahbylon Spain has a very publicly and very transparently regularised a huge number of recent immigrants. However, the Spanish median wage continues to rise because the overall economy benefits from the increase in people in the country. It has not pushed wages down - quite the reverse.
@peterbrown @The_Whore_of_Blahbylon
Probably should first clarify I actually am fine with migrants but not so fine with current immigration policy as is. I'm actually proud of being from a place that has for the most part done well with an abnormally high proportion of the population being migrants when other countries struggled with half.
But unfortunately isn't consistent, my own country of Aus has had quite a few studies into the economy (and our pretty infamous housing crisis). Low-skilled migration is mixed.
The selling price of houses hasn't been that effected by migration (Their much more affected by factors like tax incentives). But the price of rent absolutely has. (tends to be much more supply-demand driven).
There also stuff like slow responses to reduce visas for oversaturated industries which does have a negative impact as competition increases but jobs don't. This also has the side effect of union suppression as it's easier to find more desperate people to exploit.
https://www.abc.net.au/news/2025-11-07/effect-of-migration-on-housing-in-several-starts/105980904
@Umbreon @The_Whore_of_Blahbylon post Brexit the UK has become practically impossible to get into. But there is absolutely no impact on either the bought or rented housing market.
I think the fundamental problem is that average household sizes are dropping to just over one from 2.4 only a few decades ago. We haven’t built twice the number of houses.
It’s an international problem; it seems we are becoming increasingly antisocial in our living spaces!
I think the fundamental problem is that average household sizes are dropping to just over one from 2.4 only a few decades ago. We haven’t built twice the number of houses.
It’s an international problem; it seems we are becoming increasingly antisocial in our living spaces!
This Old Hiker@peterbrown @Umbreon @The_Whore_of_Blahbylon After considering falling household sizes and immigration, US housing construction has been below replacement for decades. A country of wooden houses cannot assume that the average single family home will last over 100 years, especially since most from between the 1930s and 1960 or so were built especially cheaply.