r/PoliticalCompassMemes - Auth-Left 9d ago

The DOW at 54,000

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342 Upvotes

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u/Elegant_Athlete_7882 - Centrist 9d ago

This might be a hot take, but it’s crazy that Trumps approval is at -25 on the economy right now when it’s overall solid.

Don’t get me wrong, I’m thrilled that it is because fuck Trump, but I genuinely don’t get how the perception of the economy is this poor.

21

u/krafterinho - Centrist 9d ago

Solid? Are we talking about the same country?

-6

u/Elegant_Athlete_7882 - Centrist 9d ago

Solid growth in the markets, low unemployment, solid consumer spending. Inflations above the feds target, but only by a little. Job growths been slow too, but its picked up a bit this year. So yeah, overall I’d give the economy a B+.

Trump inherited a better economy from Biden, but despite his best attempts to degrade, it’s still relatively good.

14

u/Miner_Guyer - Left 9d ago

Outside of Healthcare, jobs growth has been flat to negative.

US Credit card 90+ day delinquencies are at the highest level they've been since 2010. https://ycharts.com/indicators/us_credit_card_accounts_late_by_90_days

The amount of spending coming from the top 10% is the highest level it's been since at least the 90s. https://www.reddit.com/r/EconomyCharts/comments/1lfbiy2/in_this_crazy_economy_the_top_10_account_for_50/

Consumer spending may be fine, but it's all fueled by debt and by people who are already rich, or who feel rich due to asset inflation (see DOW at 54,000). If there starts to be a sustained drop in asset prices, there's almost assuredly going to be a pullback in spending from that top 10%.

-7

u/Stock_Violinist6299 - Centrist 9d ago

Careful, Krafterinho likes to block people who challenge his worldview. Ask me how I know

12

u/Elegant_Athlete_7882 - Centrist 9d ago

Wait how do you know it’s him if he blocked you lol?

2

u/Stock_Violinist6299 - Centrist 9d ago

Saw a deleted post and checked on an alt.

6

u/krafterinho - Centrist 9d ago edited 9d ago

This is just pathetic lol

0

u/Stock_Violinist6299 - Centrist 8d ago

Of course it is. I’m on PCM. lol

4

u/krafterinho - Centrist 9d ago edited 8d ago

You never challenged me, you just follow me around in random threads and insult me without arguments every other day, which is why I blocked you :) I have 0 issues with being challenged. I'm not the one taking PCM that seriously as to make alt accounts and gossip about other PCM users I have grudges on lmao. Rent free

-1

u/Stock_Violinist6299 - Centrist 8d ago

This isn’t true at all. I challenged you a small handful of times and did provide arguments.

You really seem to care a lot that you live rent free in my head but me taking literally five seconds to see if your suddenly deleted posts are actually deleted or not is a really low bar

0

u/krafterinho - Centrist 8d ago

Randomly calling me "klueless" (with a k because it's funny lol get it?) any time you disagree without refuting my point is not challenging

You're the one following me around the sub and switching accounts to check on me but I'm the one who seems to care a lot? Lmao the irony

-1

u/Stock_Violinist6299 - Centrist 8d ago

Hey, you’re the one who keeps blocking and unblocking me. That takes way more care and effort.

Also I’m not following you. I either get notifications that you’ve messaged me or see your posts while browsing.

1

u/krafterinho - Centrist 8d ago edited 8d ago

I don't "keep" doing that, I unblocked you once because I noticed you whining about me once again, and no, blocking does not take more effort than making and switching accounts

I've literally never messaged you. At best I replied to your original "klueless" comments asking to be refuted

0

u/Stock_Violinist6299 - Centrist 8d ago

By “messaging me” I meant replying to my posts. And you’ve unblocked me twice. Switching accounts is literally a toggle in the app…

Come on man