Opinion | ‘I’m OK, but Things Are Terrible’ ( www.nytimes.com )

AllonzeeLV , 9 months ago (edited 9 months ago)

Wall Street is doing great. Our oligarchs are doing great. Non-wealthy people are not, because the ones making more than they need own our government and have warped our economy into their personal poggy bank.

Leave it to the New York Times to get pissed off that the peasants aren’t vicariously celebrating their owner’s victories.

cnbc.com/…/the-wealthiest-10percent-of-americans-…

Of course the New York Times talks about people who don’t own meaningful capital positions as if they were the livestock of those that do, so it’s no surprise.

AllonzeeLV , 9 months ago

Wall Street is doing great. Our oligarchs are doing great. Non-wealthy people are not, because the ones making more than they need own our government and have warped our economy into their personal poggy bank.

Leave it to the New York Times to get pissed off that the peasants aren’t vicariously celebrating their owner’s victories.

cnbc.com/…/the-wealthiest-10percent-of-americans-…

Of course the New York Times talks about people who don’t own meaningful capital positions as if they were the livestock of those that do, so it’s no surprise.

spaceghoti OP , 9 months ago (edited 9 months ago)

I’m sorry to point out that you’re attempting to refute an argument Krugman didn’t make. He’s not claiming that hypercapitalism hasn’t gone too far and that wealth inequality isn’t out of control. He’s merely pointing out that the data shows that people aren’t as desperate as they feel they are, or at least, how they feel everyone else is. Furthermore, he backs this up with sources.

The fact that we have billionaires is a symptom of a big problem, but Krugman isn’t talking about that. He’s talking about how people feel that everyone is doing poorly when all the indicators such as non-essential consumption rates suggest otherwise.