I swear I had Econ in college, but I don’t remember anyone saying this so succinctly. It’s from a weird place too, but this quote hits home. It’s like population decline, but for money.

It was a truly baffling thing for an American president to say. And University of Michigan economist Justin Wolfers explained on MSNBC that things could get very bad as Trump’s scheme becomes reality. Wolfers ntoed that the idea of how much you can afford to buy with your income is called “real income.” And if real income falls, that’s called a recession. Wolfers went on to explain that if things decline as badly as Trump’s example, where someone who bought 30 dolls could only afford to buy two dolls, that’s called a depression.

Video from MSNBC: https://www.youtube.com/watch?v=sAZxLm6M_V0

  • Showroom7561@lemmy.ca
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    2 days ago

    And if real income falls, that’s called a recession.

    But by that metric, rich people would never experience a recession. If that’s the case, why do we allow them to cause a recession for the rest of us? Madness.

          • Tattorack@lemmy.world
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            1 day ago

            So… You’re saying you see something wrong in the world… And you shouldn’t do something about it? Just keep everything as it is?

    • entwine413@lemm.ee
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      2 days ago

      It’s a huge example of the bystander effect. It would only take a handful of people to change the situation.

      • Wilco@lemm.ee
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        2 days ago

        By doing what? Posting where the CEOs live so people can … protest. Yea, dox them and/or track movements to organize totally non-violent protests.

        Stalk the shit out of them and show up carrying signs. Work in shifts if they come to your area.

        • The Octonaut@mander.xyz
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          2 days ago

          It felt like “shoot them in the streets” was plainly obvious a few months ago but that’s harder than an Instagram story.

          • Wilco@lemm.ee
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            1 day ago

            No … just to protest, nonviolently of course. Find out where they go and when. Someone in the area may have the free time to hang out on a public street and hold a sign or flip them the bird.

            A very loose posting of information so everyone knows who these “people that make the world move” are and where they will be.

            Make them nervous. Force them to purchase security. They don’t want to pay taxes, but will have to pay it in security.

            We are all reasonable people. No one will use the information for violence no matter how deserving these heartless oligarchs are. That would be wrong.

    • witchybitchy@lemm.ee
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      2 days ago

      we’re too comfortable with life’s conveniences, and then throw some apathy on top