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this post was submitted on 14 Feb 2024
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From the article
"Meanwhile, although sentiment among Democrats has recovered to nearly where it stood before inflation began to rise in 2021, it remains well below its level at the end of the Obama administration. It may never return to its previous heights. Over the past decade, the belief that the economy is rigged in favor of the rich and powerful has become central to progressive self-identity. Among Democrats ages 18 to 34, who tend to be more progressive than older Democrats, positive views of capitalism fell from 56 to 40 percent between 2010 and 2019, according to Gallup. Dim views of the broader economic system may be limiting how positively some Democrats feel about the economy, even when one of their own occupies the Oval Office. According to a CNN poll in late January, 63 percent of Democrats ages 45 and older believed that the economy was on the upswing—but only 35 percent of younger Democrats believed the same. To fully embrace the economy’s strength would be to sacrifice part of the modern progressive’s ideological sense of self."
lmao, "young democrats are refusing to alter the way they perceive reality even though their guy is in office, therefore they must personally identify with their dysfunctional environment"
Isn't that the whole point? They don't call it "rigged" in school but its not a hot take lol
I find it dreadful The Atlantic the supposedly "learned" and "reasonable" calls it a an accurate understanding of a rigged economy a "belief".
I just like how Piketty's "R > G" theory made manifest is now just a matter of identity politics, rather than a mathematical principle.
There are litterally laws thst prevent plebs from getting in on the ground floor of a startup. It's called "accredited investor".
Unless you can prove economically you are in The Big Club, you ain't getting in. Unless you can economically prove you're in the Little Club within The Big Club you aren't going to get the best credit, money directly from the treasury at dirt cheap sometime they pay you to takenit rates. You're locked behind an establishment of uselss scam artists and private bank middle men who only exist to profit off of inflating costs between the State and it's citizenry. You can't have cheap capital like neop babies can.
I tried to get in on a few investments. A multi millionaire can put down $5k couch cushion change on a play at the startup of a company and then make a million dollars when it goes IPO in a few years. A pleb who worked far harder for that $5k and say maybe 5-10% of their savings and net worth so if it goes bust yeah it's a loss, but you still have 90%. The pleb is denied the ability and told it is against the law solely on the fact of living in the US and the "accredited investor" rule. They say it's to protect people, but it's used as an establishment bouncer to prevent regular citizens from playing in the same game as the rich.
But you know, it's totally not rigged.
If anyone ever asks for an example of what Marx means by "idealism" in the critical sense, I'm just going to show them this paragraph. Holy fucking shit.
Wages have stagnated. I was lucky to get any raise, but it was significantly less than the cost of living.
Meanwhile, eggs are $4 a dozen. Other staples are $$.
Food overall is much more expensive and we're not even talking about discretionary items or entertainment.
Used cars are almost unobtainable, housing and rent are through the roof.
By what metric is the economy doing well? Stonks?