alt Hacker NewsThe economy has not been 'strong' since at least 2019.
CPI is a joke that just subs out everything when it gets more expensive. Oh food is only up 3%, let's ignore we were pricing beef and eggs and now we're subbing in chicken and tofu.
Inflation has been borderline runaway from 2019-2024. Just ask anyone who isn't rich.
That's the part where "unprecedented wealth inequality" comes in. By most metrics, 2024 was an excellent year and the US was far ahead other developed countries [0] in growth, labor market, consumer spending, net household wealth, and much more; the fundamentals were solid and no figures could point to a major economic downturn at that point, certainly not in a predictable manner. In 2025 the 90th percentile accounts for over half all consumer spending, the median household hasn't reaped the same benefits high-income, high-spending ones have. There is no indication this will change, and may get worse with the current and proposed policies.
0. https://www.ft.com/content/1201f834-6407-4bb5-ac9d-18496ec29...