this post was submitted on 05 Apr 2024
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Gen X and I’m not making much more now than I did in 2008.
Thank goodness the dollar is going so much further than it did back then.... I've made myself sad on Friday...
The US never really recovered from 2008.
You say this as corporations are making record profits.
The US recovered just fine, the elites just didn’t think it necessary to include us in that recovery.
My issue is that I have to believe my lying eyes. Rates of homelessness, buying power, financial solvency, they all dropped through the tank and never really came back after what amounted to a financial earthquake for many many families. Whole extended families dropped through the cracks and never came back. There was basically no relief for the working families most effected by the incident, and basically no consequences for those that cause/ profited from it. Covid and the financial repercussions seems about the same. We've "recovered" from it "economically" because those permanently impacted by it that will never recover stopped being counted.
Yeah that’s pretty much what I’m saying. The elites are doing better than ever while we struggle.
The hedge funds are helping to rig the system even worse. People absolutely don’t realize how big of a bubble we are in, and when it pops governments will let the masses starve rather than let the donor class fail.
Millennial and I'm making over twice at much as I was in 2012. 🤷♀️
So am I. My rent however is three times as much (for a worse apartment), food is 2-6x as expensive, gas is... shockingly about the same but it was killer in 2012 too. Utilities are up, insurance is at 250%, medical aid remains unaffordable even with insurance, and I'm older will more medical problems, less energy, and it's harder to learn new things. Oh and I'm in much more debt due to all the previously mentioned things, so I don't even have space on credit cards for emergency purchases.
And 9/10 people I talk to are in the same situation.
Sounds rough. But I wasn't trying to invalidate the other guy (nor you now), just making a point that individual circumstances don't dictate the state of things overall.
Guess the juxtaposition by itself was too subtle to convey that, lol. Oh well.
And able to afford a third as much..
Even adjusted for inflation?
Nope, 66% increase then, just checked.
What does not much more mean? How much more do you expect to make
Keeping up with the cost of living would be nice.
What is that then? I'm looking for a percentage or something. What does it mean that you haven't had much of an increase in 16 years. At that length of time I would blame you
I’ll chime in here.
So… I buy the cheapest bologna I can buy for my work lunches.
I switched to the cheapest brand I could in 2016 when I consciously made the decision that I don’t care if my lunch is good as long as I have sustenance to get me through the day.
The bologna I used to buy for $1.25/pack in 2016 is now $3.29 at the same store.
My wages have gone up, but they have not more than doubled since 2016 like the price of bologna has. I think this is a good metric for comparison because we truly do live in a bologna economy.
A side note: expecting strangers to give you exact numbers about their wages on the internet is pretty ridiculous.
I appreciate you actually responding. Your example is 8 years. Also, what is the difference in take home pay after these 8 years?
The person I was responding to said they haven't had any increase in 16 years. So unless bologna has gone up from .75 to 3.29 in 16 years and that ratio is relatable to all of their life then I don't get it.
My situation isn’t going to be all that helpful for you.
My take-home has actually dropped by about $60,000/year, but that’s because I went back to school during that 8 years for a career change after hitting a dead end.
Now, I work far fewer hours than I did in the old career as I’m still working my way up in the new one. Hourly though, I make about 25% more in the new career than the old.
Now I’m single with no kids, so going back to school was an option for me. It won’t be an option for everyone.