We're Not In A Recession. Why Does It Feel Like We Are?

Minus a few minor blips, the worldwide economy is doing great, but it deffs doesn't feel like it. I wanna talk through a couple reasons why.

This is from a livestream on Fri 9 Aug

Also, pls check out @KylaScanlon and her work - she's fab.

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Continue the convo on:
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[PCstepsGR]

Your channel is criminally underrated. There also seems to be an inequality to the distribution of YouTube views. I hope you find the success that you deserve.

[mansur_ali]

When I was an exchange student in Poland, we had a class that dealt with global inequality and poverty. the professor sent us a test to see if our perceptions of our socioeconomic status meet the reality in our countries according to the OECD measures. More than 80 percent of us misplaced themselves by putting themselves higher than they are.

Nobody wants to be working/lower class. the name itself feels derogatory and there is a misguided belief that middle class people can make vertical moves to the upper sides. you cannot; more people die lower than they started out ever.

[ohitsthem]

The system is working like it should, thats why it itself needs to change

[possiblymisha]

I hate that rich people say things like "why should we have to pay to take care of poor people." The poor people are the sole reason they have their wealth. Worker producitvity skyrocketed promoting more profits and production for companies. But... We dont see any of that excess profit. The current world is poor people paying to let rich people indulge in their lavish and wasteful lives...

[Alex-cwrz]

Over the last decade 60% of all wealth created went to the top 1%.

[yankeedoodle]

"And that's why they call it the American dream, because you have to be asleep to believe it."

-George Carlin

[jamesgravil]

Short answer: a few rich bastards have taken all the pie.

[badass]

For many reasons. First GDP is one of the worst metrics to go by, it's easily manipulated and hollow.
Second because a country is rich, doesn't mean its citizens are, that's a good sign of authoritarian country, weather it be pure government authority or mixed with corporations, it doesn't matter.

Instead of looking at GDP, look at the purchasing power of the median person compared to the prices of homes, food, clothing, cars and other everyday items. From the 4 I listed only clothing is not expensive, while the other 3 are unaffordable, even to people with above average income.

[MrTooEarnestOnline]

How people are feeling IS the economic reality. The fact that there is no recession in the stock market just proves there’s a disconnect between the Finance economy and the REAL economy. Calling it a “Vibecession” makes it sound like the real drop in standard of living of normal people is not real.

[Atombender]

Marco Rubio famously said that "America is a nation of haves and soon-to-haves". He implied that everyone, regardless of race, gender or class can become rich, but the reality is that becoming rich is not something you can control. Genetics, upbringings and environment play the most important parts in determining your future, not some gaslighting phrases by politicians who have already made it.

[HUEHUEUHEPony]

Housing doesn't feel expensive it is expensive vibecession my ass

[Alex-cwrz]

This is probably why young people are much more aware of the problem and solution because they persevere themselves at the bottom of the ladder. They have also been aware of how the job they want over the years is not giving as much compensation as it used to. Meaning they know why they are earning less is nothing to do with their performance.

[DLeo]

I live along the rust belt. Where I'm from, it feels like we've been in a recession for at least the past 20 years. The people in the suburbs seem like they're doing alright, as they seem like they're still somewhat insulated from the chaos. Meanwhile, everyone else seems to be doing worse every year. I would imagine that's why it's so hard for people in the US to agree on anything, because our standards of life can still differ greatly. I'm not sure how long that's gonna last though.

[LauraReed-wuww]

We are in a recession, our government just won't admit it.
If everyone around is talking about how expensive everything is, how theyre struggling, but the tv tells you everything is fine, that should make you raise questions

[maggierezendes]

I agree that an unequal wealth distribution is the problem, but I have one criticism: I wouldn’t call it “how people feel about the economy, ” but instead “the actual material condition(s) of the working/lower classes.” Calling it a Vibecession feels akin to like, gaslighting, although I hate to use that word, lol. It’s not just a gut feeling, but something tangible! It’s a cognitive-dissonance-cession if we really want to put a buzzword to it.

[RD-iosm]

The economy is a sick nightmare that I'm desperate to wake up from. I hate this crap so much.

[sarahs]

Im from Australia and this all heavily rings true. We had those serious lockdowns through covid and I was able to work as "I ran" (manager was never around and I was alone) the bakery at one of the Big 2 supermarket chains. Their profits sky rocketed to astronomical figues and as a thank you i got a 1c pay increase and stress induced chronic fatigue. They kept cutting staffing numbers because they are chasing the numbers they hit during these covid lockdowns. Coupled with this, my brother in law has his own business and is doing really well for himself which is great (cant relate). He brought a car off of a politician for say 40k. This car was free from tax payers. So this politician just earnt 40k just cause. Sounds nice. We really are meat for the grinder.

[ShaneMcSaucy]

Im an industrial electrician in Louisiana in the U.S. i get to watch every singe day as the industrial plant i work at continues to refuse to give money to the contractor i work for despite wanting us to install 2 ENTIRE new assembly lines. They are constantly drip feeding funds to us, giving just enough to keep the skeleton crew we have from leaving but never enough to feel secure in our jobs. They constantly force upper managment to make hard budgeting decisions and to "trim the fat". Meanwhile they have record breaking global profits.

[Derkiboi]

The middle 'class' is such a stupid term. It's inherently subjective and arbitrary. It's designed to remove you from assigning your relationship to the means of production.

[cassidy_co]

I don't think anyone benefits from the "lower" and "middle" class distinction other than the upper class.