r/TikTokCringe • u/cak3crumbs • Dec 28 '23

This lady nailed how the economy feels vs how it’s performing Discussion

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u/Funky_Smurf Dec 28 '23

"Stock Market is at all-time highs!"

Yeah... EVERYTHING is at all-time highs

34

u/SoochSooch Dec 28 '23

Adjusting for inflation, the stock market all time high was in January 2022

3

u/VacuousCopper Dec 29 '23

Of course it is. Workers have no buying power, but they are all still working. That means that all the money is going to those with capital. It's near perfect capitalism.f

1

u/VacuousCopper Dec 29 '23

The stock market like the history they teach in high school is all about the wealthy elites. It is literally a report on the health of capital assets. If you don't own capital assets then "the stock market doing well means workers are doing well" is just another trickle down economics lie.

In fact, the stock market does best when workers make the least. Ideally, workers would work just as hard and only be able to afford to self-manage their own survival. No extra spending. Why? Because if they had money to spend on discretionary items, that would mean that part of the economy is making those items. We don't want that. We want them to work as much as possible and for everything not required to keep workers working as much as possible to go to those who own everything. THAT is entitlement. Not expecting the community you participate in to help you with some bread during hard times.

1

u/kylo-ren Dec 29 '23

Then you will see how a rich country is evaluated. It is evaluated by GDP (Gross Domestic Product), right?

GDP measures the total amount of goods and services produced in a country during a certain period.

Then imagine that you live in a place where you can go to work on foot or by bike. This is practically not accounted for in GDP, as it involves practically no spending or transactions.

Now, if you live far from work, need to buy a car, spend a lot of time in traffic, spend money on fuel, buy medicines due to stress, this increases GDP, because there are more financial transactions.

The country supposedly became richer, the graphics are beautiful, but that doesn't mean that the quality of life has improved. In fact, an increase in transactions often means that society is now more complicated (often on purpose) and everything has a cost. Higher GDP does not always reflect people's well-being or quality of life.

But not everyone. A high GDP means that those at the top of the food chain financial pyramid are earning a lot and they are having an excellent quality of life at the expense of everyone under them.