Fears over the state of the labor market hurt consumer confidence in February, according to the Conference Board Consumer Confidence Index.

I think this is a combination of inflation and employers wanting people to return to the office. I am excited for people to return to the office as it means I can earn a lot more money.

  • Lookin4GoodArgs@lemm.ee
    102·
    2 years ago

    There is nothing in the article that supports the headline. As far as I can tell, it’s just another way of saying ‘Americans are worry about the economy’.

    I’m specifically worried about jobs, though. We need more jobs with better conditions and higher taxes on them. That sounds like a recipe for disaster, but that’s only true if we continue to allow the 1% to own more than the entire middle class. An excess of private wealth necessarily leads to an excess of public squalor.

      • PizzaMan@lemm.ee
        123·
        2 years ago

        That isn’t true at all. The ultra-wealth, like Elon or Bezos, is not the reason you are poor. Their wealth is paper wealth.

        For private individuals who cannot print money and cannot effect the rate that a government prints money, the economy is a zero sum game. So the rich hoarding wealth directly impacts and impoverishes the rest of us.

        Do you think Elon could convert his stock to that much cash? He can’t.

        Peepin made the claim, and supported it saying that the 1% own more than the entire middle class. You dismissed that, and demanded a high level of evidence for a different claim, the claim that [all the]* stock can be converted to cash.

        But that wasn’t the original claim. Owning stock is still a form of owning wealth, even if it isn’t perfectly liquid. Peepin’s claims of the 1% owning more than the middle class is true.

          • PizzaMan@lemm.ee
            82·
            2 years ago

            Cite. That goes against every economic theory I have seen.

            I already supported that claim:

            For private individuals who cannot print money and cannot effect the rate that a government prints money, the economy is a zero sum game.

            You can’t just magic a few zeros onto your bank account. Wealth has to come from somewhere. Every dollar you make selling car tires (assuming you even own said production) means that a dollar of potential sales has been used. There is a limit to how many car tires can be sold. It is for the most part a zero sum game.

            Regardless of how you’re ignoring what I said:

            https://www.epi.org/blog/inequality-main-persistent-poverty/

            How to say you don’t understand wealth or cash.

            Are you saying stocks are not a form of wealth?

            Or does this comment merely serve to insult my intelligence?

              • PizzaMan@lemm.ee
                73·
                2 years ago

                Neither can Elon

                That’s my point. There is a limit to how many car tires can be sold. So when the rich sell more, that necessarily takes away potential sales from others. It’s basically a zero sum game.

                And the rich own all the factories and production. So every dollar of product they sell is a dollar of sales that goes to them. That leaves not enough for the rest of us, making us impoverished.

                It is but it’s not cash

                But it’s wealth. And the original claim was about wealth, not cash. You are moving the goal posts, which is fallacious.

  • TORFdot0@lemmy.world
    102·
    2 years ago

    Here is the latest consumer confidence report.

    Why is this so hard to include this information in the article, newsweek? High Schoolers don’t do this crap

    • PizzaMan@lemm.ee
      93·
      2 years ago

      Grade school level journalism is what passes for content around here unfortunately. So it will continue to happen.

  • TORFdot0@lemmy.world
    32·
    2 years ago

    I’m no economist but I’d put this as consumer confidence falling after all the post holiday layoffs in tech finally went through. A very slight downward trend in confidence compared to the very slight optimism of the last 3 months. The unemployment rate and inflation rates have held steady so i think numbers will bounce back next month as it doesn’t seem to be based on actual market conditions.