The unemployment metric has flawed and inherent attrition and does not reflect the actual number of unemployed. That’s why it works so well as a vanity metric - it has gravity pulling the numbers down.
if the economy was good we wouldn't have people doing early 401K withdrawals at record rates, record car repo rates, and record credit card debt. I'm just tired of the apologists who apparently live in a bubble or are outright lying for other reasons
https://www.cnn.com/2023/08/08/economy/401k-hardship-withdra...
https://www.gao.gov/blog/american-credit-card-debt-hits-new-...
https://www.pymnts.com/loans/2023/auto-loan-delinquency-rate...
In the long term, everyone pays market rate.
The luck is in being alive this long. Doesn’t say anything about their fitness to steer society via socialized memes there’s a communal upside to capitalism. Sounds pretty socialist.
“It’s good your agency is expropriated and your value deflated for the cause!”
In the post war years the above conditions held for decades leading to relatively steady home ownership rates and ages of first home ownership. However due to the rapidly rising cost of housing since the late 80s home ownership is rapidly changing.
Millennials have famously deferred home ownership, while gen z is starting to believe its is simply impossible to acquire. 22%[1] of all housing sales now go to private equity firms.
Unlike the stats collection used by the Fed of asking private home owners what they would rent their house for - rental rates are now often the subject of collusion through pricing algorithms[2]. Finally, individuals rarely own a single house forever - this would reduce economic mobility and be problematic in and of itself. When a home owner purchases a new home, they are subject to market pricing.
1. https://www.dwell.com/amp/article/ban-private-equity-single-...
2. https://www.businessinsider.com/real-estate-apartment-rent-p...
I'm tired of the crowd that for whatever reason needs to downplay and attack any positive fact or stat about the US.
From your own sources:
> overall employee contributions continued to hold steady for the first half of the year, and a greater share of participants upped their contribution rate than decreased it.
> “The data from our report tells two stories — one of balance growth, optimism from younger employees and maintaining contributions, contrasted with a trend of increased plan withdrawals,”
Who should be included? College students? Stay at home moms? People who retired early?
This is not an easy thing to calculate, and will always include or exclude some group(s) that could be working.
Hiring people with easy cheap money is not complicated. You don't need to spend your profits on people. Push profits into real estate/stocks/bonds etc. Inflate prices of all them then use them as collateral to take on more cheap debt and keep your plebs employed running on mindless hamster wheels.