The American economy is supposed to be in this great shape despite the high inflation and supposedly historically "LOW UNEMPLOYMENT RATE" yet when anyone peruse around the American social media regardless of platform you'll see, read comments of struggles and hard grind from most of the folks just trying to make ends meet. So despite the rosy painting of the supposed reality it appears that figures don't seem to match the actual living conditions and realities for the majority of the average American people.
This song titled: "Rich Men North of Richmond" written and performed by a southerner (Oliver Anthony) or as the Yankee libs would call, a hill billy. His not a mainstream musician. It was posted on YouTube 5 days ago and as of today has racked up close to 9 million views. ItsThe overwhelming sentiment and comments are exactly as I described above: the folks are working super hard with hardly nothing to show for.
The response from the left/liberals/progressive is entirely predictable. The man's message and song are being dismissed as nothing more than a cry by a right wing nut job and all the usual political mudslinging one can expect in the current American hyper-partisan environment. What a sad state of affair.
Let's talk about macro economics and growth rates.
An average growth rate of 1% means the economy will double in 100 years, give or take as long as the recessions do not last too long.
At growth of 2% the economy could double in 50 years give or take. That means that is real slow. It will take most of people's working life to see incomes double, if it actually happens at all.
Economies that grow at 1% or 2% tend to find themselves at 0% growth a lot of the time.
Therefore, in my mind, 1% growth = 2% growth = 0% growth or listless growth or economic stagnant.
In contrast, a country growing at 5% probably will double its economy in 15-20 years.
China is doing that internally, and that economic dynamism is bursting out onto other places outside of China. The RECP is a good example.
Now this to be a fact of life currently, although I forgot all those the industries or the reason why, but when it comes to real estate, construction, education, health care, and medicine, the cost are always going up.
I forget the reasons why. There are probably very clear answer to why those industries are seeing the cost going up always in the current day.
The FIRE sector has a hold of the real estate and construction, they get their rentier income and pound of flesh. Seems to me the lawyers and patent law seem to allow the pharmaceutical companies to reap that rentier income. In other words, I think the system is rigged.
Now we get the funny part.
As indicated in the first of this part, Western economies are stagnant at 1% growth. What does that means?
It means incomes are stagnant.
But stuff people need, like education, housing, and health care, cost of that all going up.
Stagnant incomes, and rising cost for essentials (excluding food and petroleum products prices there varies).
In short, income is stagnant, and it cost money just to stay alive and that costs more and more every year, while you get a 2% raise, like how far will that go, for bleep sakes.
See, that is how this is so funny. People don't understand it. All they say, is that it is the economy.
That is why they are singing that hilly billy song, made famous on Youtube by singing hilly billy, singing precisely of what we are talking about. At least he did not blame the joos.
What is the health care cost of the Ontario government budget? Isn't it like 30% and growing? That I remember from a decade ago.
Of course, none of this is right or fair, but people just too busy to know any better to go fight and change the system.
Would Doug Ford change anything? He has no clue, he only finished high school! LOL.
That is why it is funny when it isn't.
[rant][/rant]
